The First Division of the Inner House of the Court of Session has issued welcome guidance on the assessment of “additional charges” payable on solicitors’ fees in judicial accounts. This is a percentage uplift on solicitors’ fees which is allowed where the court is satisfied that it is justified under one or more of the seven heads provided for in the Taxation of Judicial Expenses Rule 2019, para 5.2. We have seen an upwards trend in recent months in the frequency of motions seeking additional charges, and in the amount of uplift being sought.
On 2 October 2024, the Financial Conduct Authority (FCA) announced a significant fine. In this article, we explain the circumstances leading to the fine and our four key takeaways.
In July 2024, the Intellectual Property Enterprise Court (a division of the High Court of Justice of England and Wales) delivered its judgment in Aga Rangemaster Group v UK Innovations Group Ltd and Michael Patrick McGinley.
In significant news for those dealing with personal injury cases involving the assessment of future losses the new discount rate applicable to Scottish claims has now been announced. For the first time since 2017 the rate will be positive being set at +0.5% and, as the report was published today (26th September 2024) and ought to have been laid before the Scottish Parliament at the same time, will take effect from tomorrow (27th September).
For high growth companies, share options are a strategic tool to attract and retain talent while conserving funds. However, offering share options involves navigating a complex landscape of legal requirements including, crucially, compliance with the Company’s Articles of Association and Employment law. Share options grant employees the right, but not the obligation, to buy company shares at a fixed price after a specified period or upon meeting certain performance targets. For high growth companies, this means incentivising employees with a stake in the company's future success without immediate cash outlays.
