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).
Continue ReadingThe 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.
Continue ReadingThere 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.
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Palma Percze
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.
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Jenny Chapman is a Solicitor in the Asset Based Lending team, based in Manchester.
Jenny joined Bermans in April 2023 in the Asset Based Lending team and qualified as a Solicitor in March 2026. She graduated from the University of Liverpool with a Law degree in 2021 and completed the LPC with a Business and Management MSc in 2022.
Jenny specialises in asset-based lending, acting for a range of financiers on invoice finance and asset-based lending transactions, including refinancings, acquisitions and restructurings, as well as broader corporate finance matters. She regularly supports clients on time-sensitive transactions, with a focus on keeping deals progressing efficiently.
Jenny also supports asset finance clients, including the drafting, review and development of documentation suites.
Outside of work, Jenny enjoys running and skiing, and regularly competes in Hyrox events.
E: jenny.chapman@bermans.co.uk
T: 0161 393 7120
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The Government has announced the employment law rate changes that come into force in April 2023.
From 1 April 2023:
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.
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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.
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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.
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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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There was a definite theme running through the employment proposals announced in the Spring 2023 Budget: ‘Get back to work’!
Announcements included:
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