“Live as though you will die tomorrow, but farm as though you will live forever.” – John Marsden “…But always remember that you might not.” – Martin Reynolds Readers are (or should be) already familiar with me urging owners and directors of companies to consider creating Lasting Powers of Attorney so that the continued running…

The Reynolds Report – December 2019 In a recent decision (Neocleous v Rees [2019] EWHC 2462 (Ch)) HHJ Pearce (sitting in the County Court at Manchester, Business and Property Work) accepted that, in light of modern communication practices, the definition of signature had ‘evolved’ sufficiently for a string of email communications with various automatically generated…

From 6 April 2020 payment of Capital Gains Tax (CGT) liabilities arising from sales of residential properties by UK residents will be payable within 30 days of completion of the sale. So, you had better start speaking to your accountant now…. Whilst promises of additional government spending, be it to fund extra policemen or free…

Farmers Fall Out A recent case in the Court of Appeal (Liddle v Liddle [2019] EWCA) establishes the principle that, under a cross option agreement (an agreement allowing outgoing business owners/partners to require the continuing owners/partners to purchase their share of the business) the continuing owners/partners could not be required to pay the buyout price…

“Rectification” is the process by which documents are changed by the Court to correctly reflect the intentions of the parties at the date on which the agreement set out in the document was reached. The question arose as to whether or not a “Disclosure Letter”  (a letter produced by the seller during the course of…

In a famous operatic piece from the Barber of Seville, written in 1813, Gioacchino Rossini warns of the power of defamatory rumour (“la calunnia”) to grow from a gentle breeze (“venticello”) into an earthquake, leaving the unfortunate subject of the rumour (“il meschino calunniato”) trampled and degraded.   Little, it would seem, has been learned since…

Plain Jane to Alphabet Soup in 5 Easy Steps Readers will already be familiar with the concept of the “share capital” of a company and with seeing declarations (in the accounts and elsewhere) that the “issued share capital” of the company is, for example: “10 Ordinary Shares of £1 each.” Breaking down that statement a…

Ah golf.  That sport (? – pastime) much beloved of aspiring professionals. Capable of taking up infinite amounts of two things which for any working person are in short supply: time and money.  And for what? For what indeed. Few things can compare to the pleasure of standing over a stationary golf ball on a…

Or: KISS (keep it short and simple) With frustrating regularity, I am consulted by people who have come up with a good idea, have worked hard to transform that idea into a viable business proposition and have then done a deal with venture capitalists (“dragons”) to obtain the funding they need to move the business…

Sympathy for the Devil, or, be sure you are clear about who you are giving references to, and what those references are intended to be used for. A rare moment of excitement in the usually grey world of Reynolds Towers (otherwise known as the Property & Commercial Department at Barrett & Co) was provided by…

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