FWJ Informer - March 2011
Welcome to the FWJ INFORMER.
We are committed to excellence and aim to provide the highest possible quality of legal services to our clients. The FWJ INFORMER explains some of the recent legal developments that are relevant to the asset based lending industry and how they affect the conduct of your business.
This edition of the FWJ INFORMER looks at the latest analysis by the Employment Appeal Tribunal of the unsettled question of whether administration is a proceeding instituted with a view to the liquidation of the company, and therefore whether on the sale of a business by an administrator the contracts of employment and liabilities to employees automatically transfer to the purchasing company. By taking a contrary approach to that applied by it two years ago, the EAT has once more re-opened the debate of what types of insolvency proceedings are exempt from the application of TUPE 2006.
Creditors may be interested to learn of the modern approach taken by the court recently in the construction of a guarantee from a chain of emails.
Disclaimer: This newsletter is a short selection of items which may be of interest and is only a summary of the relevant law. Further specific advice on any matter referred to must be taken at all times. No part of this publication may be reproduced without the prior permission of Francis Wilks and Jones. The information is given for general guidance only and publication is without responsibility for loss occasioned to any person acting or refraining from acting as a result of the information given.