The UK has faced one of the most disrupted trading years since World War II, but as always, the UK rebuilds. We’re supporting our clients across all sectors to tackle the challenges of today, with an eye on the future, helping businesses to plan and rebuild.
LIBOR will cease to exist at the end of 2021. Quoted as "the world's most important number", many jurisdictions have created an alternative interest rate to replace LIBOR. But how will this change affect your business?
As reported in our article in November, GMP Equalisation - transfers out, the most recent judgment in the series of Lloyds Bank cases, handed down in November 2020 (the Transfer Judgment), considered the obligations on trustees of contracted out defined benefit schemes who had transferred out benefits to other pension schemes.
On 12 February 2021 the High Court delivered its verdict on "Kids Company" – technically The Official Receiver v Atkinson & Ors. The case considered the possibility of director disqualification orders being made against trustees of the insolvent charity Kids Company, and whether the charity's Chief Executive Officer should be classed as a "de facto" director, and also disqualified.
WBD's private client partner Edward Stone, is working with STEP, the global professional association for practitioners who specialise in family inheritance and succession planning, to promote the beneficial role that trusts play in wealth planning across the world.
The Employment Appeal Tribunal (EAT) recently held in Allay (UK) Ltd v Gehlen that an employer was not able to rely on the "reasonable steps" defence to a harassment claim and therefore had to pay a former employee compensation of just over £5,000. It had provided training to the perpetrator and other employees around 20 months before the harassment took place but the EAT held that the training had become stale and needed refreshing, meaning that the employer could not use the defence and was liable for the harassment.
Following the Grenfell Tower fire in 2017, the UK Government has been reviewing and taking steps to reform our building and fire safety regimes.
However, one thing that is often overlooked in discussions around building and fire safety is the fact that the starting points for reviewing and improving this around the UK, particularly England and Scotland, are different.