Whilst it is encouraging to see scientists forge ahead with a possible cure for those suffering from ME (see yesterday’s news report regarding a new study in the US connecting ME and the retrovirus http://topnews.us/content/224930-new-research-help-cure-myalgic-encephalopathy) my work involves helping those who have the condition and need practical assistance now.
Sometimes, I am asked to help (in conjunction with my colleagues in the employment team) sufferers who have been dismissed or made redundant. More often, I am asked to tackle the mighty insurance companies who decline claims for ME and related illnesses, making the Permanent Health Insurance (PHI) of the sufferers and their employers useless. With my colleagues in the private client and tax teams, we help sufferers deal with the taxation implications of receiving a lump sum once disputes with employers or insurance companies are resolved.
More recently, I have been asked about ill health retirement pensions and the situation regarding those suffering from ME. Please give me a call or email (jmc@royds.com) or use the support of organisations such as ME Association (http://www.meassociation.org.uk/) or Action for ME (www.afme.org.uk).
Tuesday, 31 August 2010
Royds vs Christies of London – The cricket match by James Millar Craig
Many thanks to fellow partner Chris Hall for organising such a successful event and to all the players and supporters who were there at Imber Court in Esher a few weeks back. Especially to those supporters (such as poor Jean Pocock, one of our secretaries) who made valiant efforts to get through the M25 - getting stuck for over six hours because of an accident blockage - which also prevented some of the Christies team getting there.
Peter Wooton from our corporate team was an excellent umpire and Gareth’s (from our property team) wicket keeping was large and heroic.
It was good to see a former Royds member of staff (he left 10 years ago to become a wood craftsman) Sean Travers and his family there. Patrick from the family team was not too pleased about being run out by Sean but took it all in the spirit of the game - after a few drinks!
All of our team, with a few notable exceptions such as myself, performed valiantly in the face of some quite good cricketers amongst the opposition.
Elizabeth Maberley (wife of one of our property lawyers) was present throughout with her King Charles Cavalier dog Rufus to support the team and Adam. Some folk from Venners (the specialist hospitality auditors within the Christies Group) also turned up from afar and were chatting to Stewart Wilkinson, our managing partner.
Thanks also to Alison Ayres (property), Jodie Evans (property), David Konviser (corporate) and Louise Engle (corporate) for turning up to support us.
A special mention is due to Patrick's children cheering on their dad and the very stylish Welfare boys – that’s what happens when your dad is in intellectual property litigation. Both ended up playing for the Christies team. Bradley (12) made six runs (as opposed to five for his dad!) and Joel (11) got two wickets in the final over. Clearly a chip of the old block - surprisingly polite too!
Oh and Christies won by 30 runs. Back to the practice nets lads!
Peter Wooton from our corporate team was an excellent umpire and Gareth’s (from our property team) wicket keeping was large and heroic.
It was good to see a former Royds member of staff (he left 10 years ago to become a wood craftsman) Sean Travers and his family there. Patrick from the family team was not too pleased about being run out by Sean but took it all in the spirit of the game - after a few drinks!
All of our team, with a few notable exceptions such as myself, performed valiantly in the face of some quite good cricketers amongst the opposition.
Elizabeth Maberley (wife of one of our property lawyers) was present throughout with her King Charles Cavalier dog Rufus to support the team and Adam. Some folk from Venners (the specialist hospitality auditors within the Christies Group) also turned up from afar and were chatting to Stewart Wilkinson, our managing partner.
Thanks also to Alison Ayres (property), Jodie Evans (property), David Konviser (corporate) and Louise Engle (corporate) for turning up to support us.
A special mention is due to Patrick's children cheering on their dad and the very stylish Welfare boys – that’s what happens when your dad is in intellectual property litigation. Both ended up playing for the Christies team. Bradley (12) made six runs (as opposed to five for his dad!) and Joel (11) got two wickets in the final over. Clearly a chip of the old block - surprisingly polite too!
Oh and Christies won by 30 runs. Back to the practice nets lads!
Monday, 16 August 2010
Moving house stories by Jon Buckland, Royds Residential Property
Having been helping people to move home for over 25 years, I’ve seen some funny and unusual things, but here are a few timeless classics:
Selling a property for an executor 20 odd years ago - The executor came into the office with his hand inside his jacket. He produced a package containing £18,000 in cash that he had found in the loft. I recommended that he searched very thoroughly and he came back, hand inside his jacket again... with another £18,000 odd in cash ! Each time I went nervously with him acting as security guard down Morden High Street to the Building Society to pay it in.
Burglars beware - I was an executor dealing with a house sale in Morden where the deceased had no family or friends and had left everything to charity. He had sadly died in hospital over the Christmas period so I had not seen him for a while. The side entrance to his house was booby-trapped with a trip-wire in case of burglars and every internal door was locked with the key hidden very carefully. It was a real puzzle trying to find the key to the next room. It took two days to gain access to every room.
Estate agent ploys - One client arrived early at a house for a viewing with an estate agent and the agent arrived whilst the client was finishing a phone call. He saw the agent put a note through the letter-box. When they went in the agent ignored the note but the client picked it up and it read something like : "I have noticed that this house is for sale and the price is very reasonable for this area. I am very interested and would be willing to pay the asking price for it. I do hope I am the first to make an offer for it. I will phone your estate agent later."
We’ve got lots more stories to share – but we’d love to hear yours too.
Selling a property for an executor 20 odd years ago - The executor came into the office with his hand inside his jacket. He produced a package containing £18,000 in cash that he had found in the loft. I recommended that he searched very thoroughly and he came back, hand inside his jacket again... with another £18,000 odd in cash ! Each time I went nervously with him acting as security guard down Morden High Street to the Building Society to pay it in.
Burglars beware - I was an executor dealing with a house sale in Morden where the deceased had no family or friends and had left everything to charity. He had sadly died in hospital over the Christmas period so I had not seen him for a while. The side entrance to his house was booby-trapped with a trip-wire in case of burglars and every internal door was locked with the key hidden very carefully. It was a real puzzle trying to find the key to the next room. It took two days to gain access to every room.
Estate agent ploys - One client arrived early at a house for a viewing with an estate agent and the agent arrived whilst the client was finishing a phone call. He saw the agent put a note through the letter-box. When they went in the agent ignored the note but the client picked it up and it read something like : "I have noticed that this house is for sale and the price is very reasonable for this area. I am very interested and would be willing to pay the asking price for it. I do hope I am the first to make an offer for it. I will phone your estate agent later."
We’ve got lots more stories to share – but we’d love to hear yours too.
Simple ideas to improve cash flow management by Stephen Welfare, Commercial Dispute Resolution
Cash flow is one of the most important aspects of running any business irrespective of the size of the organisation. A problem with cash flow is one of the biggest factors in why many businesses fail – even those that are highly profitable. Surprisingly, it is often those businesses that are growing fast that experience difficulties as their increased cash requirements temporarily outstrip their outgoings.
Commercial lawyers can assist with improving cash flow in a number of ways – and before it is necessary to resort to litigation (for example, when pursuing non payment for goods and services). Royds Commercial department advises on the measures and practices to adopt, for example:
• Check out major contracts and key customers
o Run credit checks and ask for references on critical contracts
• Change your payment terms
o Modify your terms and conditions of business and alert your customers
• Clarify your commitment and expectations
o Ensure your contracts are specific enough to avoid misunderstandings and that the process for resolving any disputes swiftly and inexpensively is agreed
• Seek extended credit from your suppliers
o Read the terms and conditions of your suppliers and negotiate payment terms
• Carry less stock
o Install technology and systems for more effective stock control and to allow smaller quantities to be ordered on a more frequent basis
o Obtain expert help in developing accurate forecasting systems
• Speak to the bank
o Negotiate better terms for overdrafts and loans
• Release money tied up in property
o Consider a sale and lease back arrangement for some or all of your premises
• Lease equipment rather than buying it
o Review lease and hire purchase agreements carefully
• Change your staff structure
o Consider short term contracts and agency staff instead of full time employees
o Outsource activities and services that are not core to your business
• Chase Debts
o Develop an effective credit control system
Credit control systems
The late payment of invoices contributes significantly to poor cash flow and also causes problems with the cost of borrowing and thus reduces profits. Prevention is better than cure and the better your credit management system, the better the recovery of payment will be.
However efficient the credit management system is there will still be those customers that do not pay up when they should, so prompt action is required. It is a simple fact that the sooner a business acts to recover unpaid bills, the greater the prospect of getting paid. It is easy to set up a simple but robust credit control system, and if things need to progress, legal action should be taken.
Royds’ Dispute Resolution Department has a team of experienced litigators able to take decisive action to recover debts through the appropriate legal proceedings. Note that for debts in excess of £5,000 costs are recoverable, whereas costs for claims below this sum are not.
For more information please contact John North Royds’ Commercial Department jdn@royds.com or Stephen Welfare Royds’ Dispute Resolution Department sbw@royds.com
Commercial lawyers can assist with improving cash flow in a number of ways – and before it is necessary to resort to litigation (for example, when pursuing non payment for goods and services). Royds Commercial department advises on the measures and practices to adopt, for example:
• Check out major contracts and key customers
o Run credit checks and ask for references on critical contracts
• Change your payment terms
o Modify your terms and conditions of business and alert your customers
• Clarify your commitment and expectations
o Ensure your contracts are specific enough to avoid misunderstandings and that the process for resolving any disputes swiftly and inexpensively is agreed
• Seek extended credit from your suppliers
o Read the terms and conditions of your suppliers and negotiate payment terms
• Carry less stock
o Install technology and systems for more effective stock control and to allow smaller quantities to be ordered on a more frequent basis
o Obtain expert help in developing accurate forecasting systems
• Speak to the bank
o Negotiate better terms for overdrafts and loans
• Release money tied up in property
o Consider a sale and lease back arrangement for some or all of your premises
• Lease equipment rather than buying it
o Review lease and hire purchase agreements carefully
• Change your staff structure
o Consider short term contracts and agency staff instead of full time employees
o Outsource activities and services that are not core to your business
• Chase Debts
o Develop an effective credit control system
Credit control systems
The late payment of invoices contributes significantly to poor cash flow and also causes problems with the cost of borrowing and thus reduces profits. Prevention is better than cure and the better your credit management system, the better the recovery of payment will be.
However efficient the credit management system is there will still be those customers that do not pay up when they should, so prompt action is required. It is a simple fact that the sooner a business acts to recover unpaid bills, the greater the prospect of getting paid. It is easy to set up a simple but robust credit control system, and if things need to progress, legal action should be taken.
Royds’ Dispute Resolution Department has a team of experienced litigators able to take decisive action to recover debts through the appropriate legal proceedings. Note that for debts in excess of £5,000 costs are recoverable, whereas costs for claims below this sum are not.
For more information please contact John North Royds’ Commercial Department jdn@royds.com or Stephen Welfare Royds’ Dispute Resolution Department sbw@royds.com
Wednesday, 11 August 2010
Pre-packs – a possible solution for companies in financial difficulties by Louise Engel, Corporate department
A short while ago the legal world was rocked when news about the serious financial problems at a leading law firm – Halliwells – was widely reported in the media. There had been suggestions that a pre-pack solution would be sought. This is where the business is sold without publicity to avoid a negative reaction from customers and staff and/or where there is a lack of funds to find a more sophisticated rescue option. As it happens, numerous law firms stepped in to acquire the different elements of the Halliwells’ business.
Pre-pack arrangements sometimes receive a bad press, with some seeing the creditors’ losses as unfair and others confusing them with the old practice of “phoenix” companies. Yet research from the professional insolvency body – R3 – indicates that in 2009, 90% of the jobs in pre-pack sales were preserved.
The advantages and disadvantages of pre-packs and the issues for directors are explored further in a new Royds bulletin – please email info@royds.com if you would like a copy.
Pre-pack arrangements sometimes receive a bad press, with some seeing the creditors’ losses as unfair and others confusing them with the old practice of “phoenix” companies. Yet research from the professional insolvency body – R3 – indicates that in 2009, 90% of the jobs in pre-pack sales were preserved.
The advantages and disadvantages of pre-packs and the issues for directors are explored further in a new Royds bulletin – please email info@royds.com if you would like a copy.
Advantages and disadvantages of franchises by John North and Louise Engel, Commercial Department
A recent High Court decision warns franchisors to ensure that when they provide advice to prospective franchisees, they do so with due skill and care. The Court held that the franchisor owed a duty of care to its franchisee and had breached that duty by giving negligent advice to the franchisee. The franchisor was also in breach of contract by failing to provide the level and quality of marketing advice and support agreed by the parties.
This blog highlights the advantages and disadvantages of franchising a business from a franchisor’s perspective.
What is a franchise?
A franchise is composed of a franchisor and at least one franchisee.
The franchisor is the business or individual that sells the right to use its products or services to another business or individual. The franchisor:
• Allows the franchisee to use a name which is associated with the franchisor.
• Exercises continuing control over the franchisee.
• Provides assistance to the franchisee (for example, advice on finding and acquiring premises).
The franchisee is the business or individual that purchases the rights to use the franchisor’s products or services. The franchisee will periodically have to make payments to the franchisor.
What are the advantages of franchising for the franchisor?
• Franchising provides a business with the opportunity to secure distribution for products or services more quickly than if it had to train up its own employees and develop its own internal marketing, sales and distribution organisation.
• Using a franchisee’s capital will enable a business to expand more quickly than if it had to find the funds itself.
• Many businesses involved in the supply of goods or services motivate their employees by linking their remuneration to sales. Franchising takes this one step further by linking the franchisee’s financial well-being to the success of the franchisor’s business.
• Franchising a business may provide the franchisor with increased purchasing power and possibly reduced overheads, therefore increasing its profitability.
What are the disadvantages of franchising for the franchisor?
• Loss of control. While a franchise agreement will impose substantial restrictions on the franchisees, it is important to remember that they will be independent third parties who will be seeking to maximise their own profits, sometimes at the expense of the franchisor.
• Part of the franchisor’s profits will be used to support the franchisee’s business.
• By involving a third party, the franchisor will have to divulge substantial know-how and information concerning its business. Although a franchise agreement will contain restrictions on the franchisees’ ability to make use of this information for their own purposes, these types of provisions are often difficult to monitor and enforce.
• The business skills required to control franchisees and provide back-up are different from those involved in operating a business with its own employees.
• A franchisor may owe a duty of care to its franchisees and prospective franchisees. The High Court has recently held that a franchisor must ensure that when they provide advice to a prospective franchisee, they must do so with due skill and care.
This blog highlights the advantages and disadvantages of franchising a business from a franchisor’s perspective.
What is a franchise?
A franchise is composed of a franchisor and at least one franchisee.
The franchisor is the business or individual that sells the right to use its products or services to another business or individual. The franchisor:
• Allows the franchisee to use a name which is associated with the franchisor.
• Exercises continuing control over the franchisee.
• Provides assistance to the franchisee (for example, advice on finding and acquiring premises).
The franchisee is the business or individual that purchases the rights to use the franchisor’s products or services. The franchisee will periodically have to make payments to the franchisor.
What are the advantages of franchising for the franchisor?
• Franchising provides a business with the opportunity to secure distribution for products or services more quickly than if it had to train up its own employees and develop its own internal marketing, sales and distribution organisation.
• Using a franchisee’s capital will enable a business to expand more quickly than if it had to find the funds itself.
• Many businesses involved in the supply of goods or services motivate their employees by linking their remuneration to sales. Franchising takes this one step further by linking the franchisee’s financial well-being to the success of the franchisor’s business.
• Franchising a business may provide the franchisor with increased purchasing power and possibly reduced overheads, therefore increasing its profitability.
What are the disadvantages of franchising for the franchisor?
• Loss of control. While a franchise agreement will impose substantial restrictions on the franchisees, it is important to remember that they will be independent third parties who will be seeking to maximise their own profits, sometimes at the expense of the franchisor.
• Part of the franchisor’s profits will be used to support the franchisee’s business.
• By involving a third party, the franchisor will have to divulge substantial know-how and information concerning its business. Although a franchise agreement will contain restrictions on the franchisees’ ability to make use of this information for their own purposes, these types of provisions are often difficult to monitor and enforce.
• The business skills required to control franchisees and provide back-up are different from those involved in operating a business with its own employees.
• A franchisor may owe a duty of care to its franchisees and prospective franchisees. The High Court has recently held that a franchisor must ensure that when they provide advice to a prospective franchisee, they must do so with due skill and care.
Launch of the first lunch time Business Network International (BNI) group in the City by Chris Hall, private client department
Many people are familiar with the BNI chapters across the country and how their dedication drives them to get up extra early to attend 730am breakfast meetings. So I am delighted to be one of the founding members of the new BNI City Lunch chapter, which meets every Wednesday lunchtime. The group now has 25 permanent members with regular visitors from other City businesses attending. The group is an active referral network, which allows professional to build lasting relationships, which lead to work.
I’m currently the leading referrer in the group and have found that now that my own work has been tested, referrals back to Royds LLP have increased steadily.
Please see the link for where the chapter meets: http://www.bni-europe.com/viewchapter.php?chapter=1338 and let me know if you would like any further information about this BNI chapter or any other aspect of the group. As you may be aware, future members can only be from non competing businesses.
I’m currently the leading referrer in the group and have found that now that my own work has been tested, referrals back to Royds LLP have increased steadily.
Please see the link for where the chapter meets: http://www.bni-europe.com/viewchapter.php?chapter=1338 and let me know if you would like any further information about this BNI chapter or any other aspect of the group. As you may be aware, future members can only be from non competing businesses.
Tuesday, 3 August 2010
Warning for “Copy-Cats” Traders (Vodkat appeal) by Stephen Welfare
Royds Intellectual Property Unit note the decision of the Court of Appeal on 30 July 2010 to refuse the appeal in the Vodkat case. Vodkat is an alcoholic drink that is mostly, but not only, made with vodka.
The High Court had found against the manufacturers of Vodkat in February of this year for extended passing-off. Vodkat sounds like vodka, and is very similar to vodka, but it isn’t the same. Following the champagne cases, the court ruled that using confusing labelling and/or descriptions was unlawful.
The Court of Appeal upheld the High Court decision even though vodka lacked any reputation for superiority.
Extended passing-off arises where there is inappropriate use of any sufficiently descriptive or generic term for a particular class of goods. It protects the goodwill in the class of goods, whereas mere passing-off protects the reputation of a particular business.
The Court of Appeal decision is surely a decisive warning to copycat traders.
The High Court had found against the manufacturers of Vodkat in February of this year for extended passing-off. Vodkat sounds like vodka, and is very similar to vodka, but it isn’t the same. Following the champagne cases, the court ruled that using confusing labelling and/or descriptions was unlawful.
The Court of Appeal upheld the High Court decision even though vodka lacked any reputation for superiority.
Extended passing-off arises where there is inappropriate use of any sufficiently descriptive or generic term for a particular class of goods. It protects the goodwill in the class of goods, whereas mere passing-off protects the reputation of a particular business.
The Court of Appeal decision is surely a decisive warning to copycat traders.
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