Divorce – Don’t forget about the Pension

ByMichael Morrison

Divorce – Don’t forget about the Pension

Company shares are often forgotten about when negotiating financial settlements to a divorce alongside the broader issue of pensions. This can obviously be a crucial income stream if only one party provided the family income. Pensions are usually divided equally. You need to re-institute legal proceedings if you forget this valuable asset!

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ByMichael Morrison

Commercial Property Elevation Expected after Brexit

A fairly good demand for premium office space exists in London in the days leading up to Brexit, on the 31st January 2020, since the Conservative win in last month’s general election. However tenancy agreements have yet to be fully negotiated. A large surge in refurbishment and building has been forecast by commentators for the first six months of this year.

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ByMichael Morrison

Immigration Rise

Immigration specialist solicitors in London have been enjoying a surge of clients. As many Europeans emigrated a significant number of Americans immigrated due to outbound financial deals being uncharacteristically less than inbound.

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ByMichael Morrison

London First for Property Investment Purchases whilst Restaurant Insolvencies Rise 20%

London is first for commercial property investments followed by Paris largely due to the expanding tech sector.

The UK restaurant sector however is facing uncertain times with nearly 1500 insolvencies in the year to July due to the large volume of establishments, poor customer attendance and increasing costs.

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ByMichael Morrison

Prime Central London Property Prices are on the UP whilst Businesses Migrate from Mayfair to the City

Property prices in prime central London have recovered to that seen a year ago. Gazumping is also on the increase due to competition.

Mayfair has seen the largest increase in residential sales whilst losing the biggest number of commercial tenants to the City.

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ByMichael Morrison

Landlords are Rubbing their Hands

Last month saw a surge in the residential lettings market as tenants swarmed to sign assured shorthold tenancy agreements due to the ban introduced on certain letting agency fees. Tenancy deposits have also been frozen at a 5% maximum. However the shortage of properties on the market means that going forward competition will be fierce.

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ByMichael Morrison

Tech Visa Applications Soar

Launched in 2014, the visa has enjoyed an increase in the past year of 45 percent in the number of applications received by the Home Office for positions in fintech, software development and artificial intelligence and machine learning.

The USA and India are the originating countries from where the majority of these applications are instituted.

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ByMichael Morrison

Will Contests in Court are Increasing – Contentious Probate

Disputes concerning inheritance matters are increasing amongst families leading to court proceedings often in the High Court. This is due in some part to people writing their own wills rather than having one professionally drafted by a solicitor and also by people attempting to administer an estate, as an executor, and not receiving professional assistance.

Home made wills are a legal minefield and can contain omissions, errors and serious ambiguities.

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ByMichael Morrison

Insolvency

Business insolvencies rose by almost 20% in the last three months of 2018 rounding off a year in which corporate insolvencies were up by 10% in total. Construction, then wholesale and retail followed by vehicle repair were the main sectors effected. More companies seem to be closing rather than restructuring.

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ByMichael Morrison

Brexit Does Not Frustrate a Commercial Lease

A recent High Court challenge by the European Medicines Agency (EMA) to sever the commercial lease for its offices was won by its landlord the Canary Wharf Group. The EMA complained that its lease signed in 2014 for 25 years had been frustrated by Brexit which it contended was an unforeseen event. The value of the lease is £500m and the EMA intended to move to Amsterdam.

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