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Share Buybacks – When Are They Void?

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A share buyback (a process whereby shares in a company are bought by the company itself and cancelled) is a popular and relatively less-complex way for companies to provide an exit route for, or return surplus cash to, its shareholders. Whilst the law and procedure for carrying out a share buyback is quite clear and straightforward, we have dealt with a number of instances where the validity of a share buyback has been questioned and further action required to be taken in order to ratify the validity of a buyback transaction.

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Contractual Considerations on Brexit

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As Brexit draws near, the question of how it will affect business and the need to know your contractual rights is ever more important.

Some questions you may ask yourself:

  • What happens if the borders are clogged up and I cannot deliver or receive goods
  • Who will be liable for tariffs in the event of a hard Brexit
  • Should I look at amending existing contracts or terminating contracts with a view to issuing new contracts
  • Will you have to register with a UK authority in place of an EU one?
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Employment Law: Do you really want to know what your employees are thinking?

Chinese companies are reportedly using brain-scanning helmets to keep an eye on their employees’ state of mind. The helmets contain an EEG (electroencephalogram) sensor that records brain activity. The helmets are designed to monitor employees’ emotional states with the aim of boosting productivity. If employees are feeling sad or stressed then managers will know about it and can act on that information.

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Employment Law: Payslips

The catchily named Employment Rights Act 1996 (Itemised Pay Statement) (Amendment) (No.2) Order 2018 requires businesses to provide all ‘workers’ with an itemised pay slip. Previously, only employees were entitled to receive itemised statements. Workers will now have the right to bring an employment tribunal claim if businesses do not comply, and this extension of the right will now mean many people in the gig economy will be entitled to an itemised pay slip.

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Employment Law: Employee status and ‘umbrella’ contracts

Can an individual employed as ‘bank staff’, with no guaranteed hours, be an ’employee’? Ms Lane-Angell worked for Hafal assisting vulnerable adults in police detention. Her contract said there were ‘no guaranteed hours’ and Hafal would use her services ‘as and when they are required, if you are available’. Ms Lane-Angell would communicate her availability which was put into a rota. When on the rota she was expected to work if required. There was a poorly enforced ‘three strikes and off’ rule where staff were taken off the rota if they missed calls whilst on duty. Ms Lane-Angell missed calls and stopped receiving work. She then claimed unfair dismissal as an employee. But was she an employee?

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Employment Law: Variations of contract

How easy is it for an employer to impose a pay freeze? In Abrahall v Nottingham City Council, the Court of Appeal decided that a group of employees had not ‘agreed’ to a pay freeze when they continued to work without protest afterwards. In 2011, the Council imposed a two year pay freeze. The recognised unions objected, but did not raise a formal grievance. Two years went by before the Council tried to freeze pay again in 2013. At that point, employees brought claims for unlawful deduction from wages based on their contractual right to a pay rise.

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Employment Law: Whistleblowing – protected disclosures

Sections 43A-43L of the Employment Rights Act 1996 protect workers who report malpractice (a ‘disclosure’) by their employer and are then treated badly. For a disclosure to be protected it must contain ‘information’ which the employee reasonably believes is in the public interest. It must also show some sort of wrongdoing (such as a criminal offence or breach of a legal obligation). Can an allegation be ‘information’?

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