Coronavirus: Legal Update Hub

FAQs for Employers

Katie Pearson shares some answers to frequently asked questions and useful links for employers in light of the current Coronavirus outbreak, including:

Reducing the risk to your employees
What do do if an employees is in quarantine, but not sick
Changes to Statutory Sick Pay (SSP)

COVID Cashflow - Time is of the Essence

In these uncertain and unprecedented times, the importance of protecting your business has never been greater. With social distancing slowing down production and trade, we are all having to think more creatively to adapt and ensure the personal safety of our families, colleagues and employees.

The reality is that this adjustment is going to undoubtedly affect the cashflow of most, if not all, businesses. This means that both recovering and paying debts is going to be more difficult, but doing both will be essential for survival. Jennifer McNichol gives some practical advice.

Transfer Documents, Companies House Filing Changes

HMRC recently announced yesterday that due to the COVID-19 pandemic they have temporarily amended procedures for processing Stock Transfer Forms and other transfer documents, such as the Form SH03 used in share buy-backs.

Ross McGregor discusses how e-signatures and electronic formats are helping businesses to process transfer documents and Companies House filings

What's MBM Doing?

We are working. Our staff are working from home using our secure cloud-based systems. If you need assistance you can continue to call and email your representatives, or contact us on weareworking@mbmcommercial.co.uk.

MBM has implemented a policy to prevent the spread of Coronavirus among our staff and clients.

Frustrating Times: Coronavirus and Commercial Contracts

Interruptions in supply chains, delays, travel disruptions and threats to the labour force are commonplace right now.

In this blog, Danielle Prado discusses contractual rights and obligations of businesses and their clients, customers, suppliers and other third parties. Arcane legal terms such as “force majeure”, “frustration of purpose” and “time is of the essence” are becoming more commonplace. What do these terms mean and what are their implications?

Furlough Leave and the Job Retention Scheme

The Chancellor’s announcement on Friday that the Government will reimburse 80% of the wages of those who would be otherwise laid off by their employers because of the impact of COVID-19, will come as a great relief to many. The affected employees will be put on “Furlough Leave”.

But what does this mean and how will it operate in practice?

Hannah Roche shares what we know so far.

EMI Options

Alexander Lamley discusses the impacts of the pandemic on EMI Options.

Firstly, Alex discusses the how employees who have been awarded grants of EMI options should be careful to continue to comply with the working time requirements in order to ensure continued EMI tax treatment.

Secondly, he explains the impacts of furlough status on EMI Option grant holders.

FAQs for Companies & Directors

Our Corporate Team have been fielding various questions from companies and directors being impacted by the Coronavirus.

- How to sign documents if you can't meet face-to-face.

- Are electronic signatures valid?

Caveats: Protecting you and your business against the unexpected

With so many customers and workers currently staying home, some businesses will be facing an increased risk of insolvency.

You may be caught unawares should legal proceedings be raised against you or your business. Putting caveats into place can help bring peace of mind.

Conveyancing and Security Transactions

The Property Law Committee of the Law Society of Scotland is strongly recommending that parties to conveyancing and security transactions should attempt to reschedule settlements rather than settling during the closure of the Application Record.

The obvious risk of settling a transaction during the Application Record closure is that, following settlement, the Disposition in favour of the purchaser, and any Standard Security in favour of a lender, will not be capable of registration until such time as the Application Record reopens.