A client recently commented that the posturing (or as some might say strategic negotiation) going on between the UK government and the European Union at the moment reminded him of the negotiation (or some would say strategic posturing) he witnessed during the negotiation of a management buyout (MBO) a few years ago. On the surface both parties were extolling the virtues of quickly coming to an acceptable, profitable and commercially viable agreement. Behind the scenes however, each party was working hard to gain small but potentially significant concessions in order to tilt the balance of the transaction paperwork and terms in its favour.

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The European Banking Authority (“EBA”) has published an opinion in response to the current status of the Brexit negotiations. The opinion cites significant concerns regarding the preparation of financial institutions that will be affected by Brexit, particularly the impact of the potential loss of passporting rights, and highlights the potential for disruption if financial institutions are not adequately prepared for a no-deal Brexit.

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Jeremy Hunt, Secretary of State for Health and Social Care, has been reported to the Parliamentary Commissioner for Standards following a failure to declare his 50% interest in a property development company and the Company’s failure to register him as a person of “significant control” (“PSC”) with Companies House. But what is a PSC and what are the consequences of non-compliance?

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It’s been over a year since UK companies and LLPs have been required to keep a Register of Persons with Significant Control (PSC Register). Since the rules came into force, all companies and LLPs should have been through the process of identifying their PSCs, drafting their PSC Register and notifying Companies House accordingly. However, recent changes to the notification requirement means that you may need to revisit this process again.

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A leading provider of cloud unified communications and enterprise voice services based in Bristol has been acquired by a UK subsidiary of a French company owned by NTT Communications Corporation, following complex cross-border negotiations. Applicable Limited, which has a large …

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Bath’s leading financial services firm Fidelius has merged with Money Wise for an undisclosed sum. The Bath offices of law firm Withy King and accountants Bishop Fleming advised Fidelius on all aspects of the deal including the purchase of shares …

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Royds Withy King recently hosted it’s third Economic Question Time event in conjunction with HSBC and Shaw Gibbs at the SAID Business School.

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