Rachael joined Bermans in May 2023 as a Solicitor in our Asset Based Lending team in Manchester.
Rachael graduated with a First Class Law Degree from Sheffield Hallam University in 2015. Following this, she attended BPP Law School, where she obtained a Distinction in the Legal Practice Course. She then qualified as a Solicitor in 2020.
She is experienced in real estate finance, general corporate finance, invoice finance and asset-based lending.
Outside of work, Rachael enjoys travelling, going on walks in the Lake District and spending time with friends.
There are a few very few cases in the law reports dealing specifically with factoring or invoice discounting, so we always pay particular attention to those that are reported, and in this respect it is worth reflecting upon the recent decision of the High Court in Elevar Finance SPV Photon LLC v Mr Sabesan Somasundaram [2023] EWHC 151(Ch).
The Industry Working Group on Electronic Execution of Documents set up by the Government in response to the 2019 Law Commission Report has published its final report.
There has been understandable focus recently on the question of virtual witnessing of documents such as Deeds of Guarantee which require the presence of a witness, a topic dealt with in our last Briefing and to which we will return later in this one. It is important however to remember that the vast majority of Deeds are still executed by wet signatures and in this regard there has been an important recent decision of the High court favourable to financiers.
In the budget in March 2021, it was announced that Corporation Tax would be increased incrementally to 25%. After some uncertainty in the past year, as to whether this would proceed, the first increase took effect from 1 April 2023.
Jenny joined Bermans in April 2023 as a paralegal and is currently a Trainee Solicitor in our Asset Based Lending team based in Manchester.
She graduated with a Law Degree in 2021 and the LPC with Business and Management MSc in 2022 at Liverpool University. She also has previous experience in corporate law.
Jenny assists on a range of asset finance, invoice finance, and general corporate finance for lenders and financial houses.
Outside of work, Jenny likes to stay active being a keen runner, skier and gym go-er.
The Government has announced the employment law rate changes that come into force in April 2023.
From 1 April 2023:
National Living Wage for workers aged 23 and over increased to £10.42 per hour
For workers aged 21-22 the rate increased to £10.18 per hour
For workers aged 18-20 the rate increased to £7.49 per hour
For workers aged 16-17 and those on apprenticeships the rate increased to £5.28 per hour
From 2 April 2023 Statutory Maternity Pay, Statutory Paternity Pay, Shared Parental Pay, Statutory Parental Bereavement Pay and Statutory Adoption Pay all rose to a maximum of £172.48 per week.
You might think that it would be tricky for an employer to dismiss an employee without meaning to. A recent Employment Appeal Tribunal decision highlights the importance of careful drafting when making offers of settlement to an employee.
Under section 15 Equality Act 2010, ‘discrimination arising from a disability’ occurs where an employer treats a candidate or employee ‘unfavourably’ because of something arising in consequence of a disability and it is not able to objectively justify that treatment.
The Retained EU Law (Revocation & Reform) Bill, which is currently rumbling through the House of Lords, will lead to the removal of EU-derived secondary legislation at the end of this year unless it is specifically preserved – the so-called ‘sunsetting’ provisions. The Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) is one of the significant pieces of employment legislation which would be vulnerable to removal.
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