Helen Marsh quoted in The Telegraph on the cooling of the property market outside the commuter belt
29 April 2022
Views
Residential Property Partner, Helen Marsh, has been quoted in The Telegraph article, ‘How a property seller overpaid in the pandemic frenzy – then made a £300,000 loss.’
As the post-lockdown rush to leave the capital reverses and buyers look to return to London or more traditional commuter locations, some property owners that are looking to sell their pandemic purchases are finding their rural homes are worth less than they paid for them.
The fall in demand has resulted in the cooling of the property market in more rural locations, further fuelled by rising interest rates and the increased cost of living.
Helen Marsh comments “I’ve definitely seen people who rushed to move out of London and then realised they don’t like it, or that they have to do the commute to the office that they never thought they would need to do.”
The full article can be read here, behind the paywall.
Forced rent auctions: What property and the government need to know about how this will (and won’t) work – Andrew Denye talks to Bisnow
29 April 2022
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Last week, the Government suggested a new plan to rejuvenate the UK’s high streets and tackle the growing issue of empty retail properties: If one such property has stood empty for more than six months, the local authority could force the owner to rent it out.
This idea has been met with scepticism by industry experts, both in reference to its function and its intended effects.
Regarding the key component that local authorities would have the power to upend centuries of private property rights, and the notion of landlords’ autonomy over their own property, Head of Retail, Andrew Denye summarises:
“You are almost saying the local authority would need to have some sort of compulsory purchase order power, but without purchasing the property. If, as being suggested, the landlord is effectively being forced to lease out their property, unless you are talking about changing landlord tenant law, the landlord will still have to enter into some sort of contract or agreement, unless you are taking ownership away from them.”
Andrew shares the view among industry experts that the proposal has an air of political short-termism.
He said: “I keep coming back to this idea of levelling up. For those areas that do need levelling up, I’m not sure they will get anything from this because there isn’t the demand for retail premises in these areas – it doesn’t change the fact that there is just too much retail.”
This article was first published on 27th April 2022 in Bisnow, available here, behind their paywall.
Axa is suing Santander for £624m, a loss that Axa says it has suffered as a result of successful Financial Ombudsman Service claims concerning Axa payment protection insurance policies allegedly mis-sold by Santander.
“This is why it is important to have robust contractual arrangements in place. These arrangements should make it clear where and with whom liability sits when things go wrong.”
With Axa suing Santander for £624m over its payment protection insurance policies, Caroline Harbord,partner, and Charlie Paddock, trainee solicitor at law firm Forsters, discuss the importance of robust agency arrangements in insurance sales and supply chains.
Axa is suing Santander for £624m, the quantum of loss that Axa says it has suffered asa result of the tsunami of successful Financial Ombudsman Service claims concerning Axa payment protection insurance policies allegedly mis-sold by Santander.
This case provides a salutary lesson for insurance companies regarding the importance of having robust contractual arrangements in place.
For background, Santander was engaged to sell Axa PPI policies to consumers pursuant to the terms of an agency agreement between Axa and Santander. Axa now alleges that Santander mis-sold the PPI in breach of the express terms of the agency agreement and the Association of British Insurers’ code of practice of general insurance. Axa is seeking to recover its significant losses via: the indemnity in the agency agreement, general contractual damages, and the terms of an unexecuted settlement agreement. The status of the settlement agreement is in dispute between the parties and has formed the basis of Santander’s recent strike out application.
What is particularly interesting about the facts of the case is that when the PPI liabilities first started to arise, neither party appears to have been clear about who was responsible for the liabilities. Initially, Santander paid out on all the FOS judgments. Then Axa started to pay out for certain liabilities but was compensated by Santander. That lasted until Santander decided it was no longer happy with that arrangement and asserted that Axa should bear certain liabilities in their entirety.
This is why it is important to have robust contractual arrangements in place. These arrangements should make it clear where and with whom liability sits when things go wrong. This is particularly crucial when it comes to selling insurance and financial products, given the associated regulatory requirements which must be complied with at the point of sale. Agency agreements should, therefore, also contain robust compliance, supervisory and audit provisions, so that the insurer can satisfy itself as to its agent’s continued compliance with regulatory obligations.
Achieving contractual nirvana is, of course, often easier said than done. It is impossible to predict all the ways in which liability might arise and this can be particularly complicated when supply chains are multi-jurisdictional. In cases where unexpected liabilities do arise in a sales and supply chain, the parties would do well to get the lawyers in early to establish and record who is responsible for the losses. Had Axa done this back in 2014, it may have found its bottom line to be better off by the tune of £624m.
Axa is, however, in some ways fortunate that the agent in question is an institution of significant financial standing.This is important because it makes suing Santander worthwhile. If Axa succeeds in the claim, it has a good chance of being able to successfully enforce the judgment and receive the cash back in to its pocket.
The contractual considerations raised in the preceding paragraphs are rendered entirely academic in cases where the party in the supply chain that is contractually liable for losses has no financial substance to meet them. In these cases, the party in the supply chain with the deepest pockets may find itself forced to bear all third-party liabilities irrespective of what any agency or supply chain agreements provide about who should technically bear these liabilities as a matter of contract.
The article was first published on Insurance Post on 15 April 2022. You can read the full article here, behind the paywall.
Forsters advises Wrenbridge and Fiera Real Estate UK on purchase of 56,117 sq. ft. of industrial units in Crawley
28 April 2022
News
Forsters has advised Fiera Real Estate UK (“FRE UK”) and Wrenbridge on the purchase of a 2.4 acre site in Crawley consisting of five industrial units which total 56,117 sq. ft.
The business plan is to obtain planning for a new 65,000 sq. ft. Grade A industrial warehouse development with a GDV of £27m.
The site was purchased through the Fiera Real Estate Opportunity Fund V UK, the latest fund in FRE UK’s programmatic venture series with CBRE Global Investment Managers. This is the 16th acquisition for the Fund which reached its final close earlier this year with £180m of capital and is targeting similar sites for industrial development around the UK.
Chris Button, Fund Manager at FRE UK, commented “We are very pleased to be bringing forward yet another high-quality and sustainable scheme alongside our Operating Partner, Wrenbridge. This is the latest acquisition for our value-add Fund, FREOF V UK, which currently has a pipeline of more than 1.4million sq. ft. of industrial and logistics space. The Fund is targeting similar sites for speculative industrial development around the UK.”
Crypto in Disputes: James Brockhurst to present at the ThoughtLeaders4 Conference
28 April 2022
News
Private Client Partner, James Brockhurst, has been invited to speak at the ThoughtLeaders4 Conference ‘Crypto in Disputes’ in London.
Crypto is increasingly prevalent in many areas of law and the resulting disputes involving Crypto are unique.
The conference, taking place on 29 June 2022, will join together industry experts to address the areas of disputes where Crypto is involved, including:
NFT Disputes
Investing in Crypto Companies
ADR
International Regulation
Asset Recovery
Trusts
Divorce
Private Client matters.
Forsters’ Crypto law specialist, James, will present the session ‘Trusts, Divorce & Private Client’ alongside Natasha Stourton and Natasha Oakshett of Withers and Andrzej Bojarski of The 36 Group. The session will cover inheritance, beneficial ownership, tax and divorce.
Roberta Harvey to speak at ThoughtLeaders4 Contentious Circle of Trusts event
28 April 2022
News
Head of Contentious Trusts and Estates, Roberta Harvey, has been invited to facilitate a session on ‘Diminishing capacity of power holders’ hosted by ThoughtLeaders4 with Jordan Holland of 5 Stone Buildings.
In the session, Roberta and Jordan will discuss disputes in relation to incapacitated persons’ assets from a multi-jurisdictional perspective.
The event will take place from the 28 -29 April at Down Hall Hotel, Bishop’s Stortford.
Roberta is delighted to be attending the event with Consultant, Alison Meek who will join Forsters’ Contentious Trust and Estates team (link to press release) on 3 May 2022.
Jo Edwards and Amanda Sandys write for Law In Sport on how to protect athletes when a relationship breaks down
27 April 2022
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Head of Family, Jo Edwards, and Family Counsel, Amanda Sandys, have authored an article for Law In Sport entitled ‘Staying On Track: How To Protect Athletes From The Impact Of Family Breakdown’.
The impact of relationship difficulties or breakdown on the well-being of sports professionals is often overlooked. It can take a significant toll on mental health and, in turn, professional performance, unless carefully managed by agents and those around them.
In their article, Jo and Amanda examine the practical issues for athletes and support teams to be aware of when forming relationships and managing relationship breakdown. Specifically, it looks at:
Awareness of the mental impact
Addressing media intrusion
Dealing with disputes
Legal frameworks for different types of relationship
Relationship agreements and nuptial agreements
Protecting finances and assets
Ongoing maintenance obligations
Choosing a favourable jurisdiction
Children – parenting arrangements
Geographical considerations
Alternatives to court
The full article can be read here, behind the paywall.
Jo and Amanda have acquired quite extensive experience in this field, especially with footballers, and always enjoy working with sports psychologists and reputation management professionals to get the best outcomes for their clients. If you have questions in relation to the topics raised in this article or other family matters, please do get in touch.
The Register of Overseas Entities – 5 steps lenders should be taking now
26 April 2022
News
There has been a plethora of recent articles about the Economic Crime (Transparency and Enforcement) Act 2022 (the “ECA”) and its provisions which deal with the register of overseas entities (the “Register”), but given that the Register is not yet in force and there is no suggestion as to when it will become effective, how concerned should lenders be?
Is it really worth spending time and effort considering the new regime when we don’t yet have all the details as to how it will work in practice?
The simple answer to this is yes. We know that the Register is on the legal horizon and given the speed with which the ECA received Royal Assent (after it was essentially written off last year), we can expect that the setting up of the Register will be fairly high on the list of government priorities. On this assumption, it would be sensible for lenders to take certain steps now to ensure they are adequately protected when the Register takes effect.
So, what are the five main steps that lenders can take now, before the Register is in place?
Get up-to-speed on the relevant provisions of the ECA. Understand what the Register is intended to achieve, to whom it will apply and how it will work. Read our client briefing note on how the Register will affect lenders and get in touch with your usual Forsters contact if you would like specific training or have any questions about the Register.
Be mindful of your current clients and security portfolios already in place. Where an overseas entity acquired UK property before 1 January 1999, it will need to apply for registration once the Register opens. Such entities will have six months to apply for registration.
Consider whether it would be sensible to inform any of your clients about their potential registration requirements. Although ensuring registration compliance is not a lender’s responsibility, it may be prudent to encourage certain clients to begin collating the information that will be required for registration.
Ensure that the documentation for facilities which are currently at the negotiation stage include the necessary comfort and protections that you, as a lender, will require when the Register takes effect. You will want to ensure that the overseas entity has a contractual obligation to apply for registration within the required time period, undertakes to complete the annual updates as required and sends evidence to you that they have so complied.
Ensure that you periodically check to see whether a date has been announced upon which the Register will open. We will provide an update on this, but it is also likely to be published in the press and on the gov.uk website.
Disclaimer
This note reflects our opinion and views as of 26 April 2022 and is a general summary of the legal position in England and Wales. It does not constitute legal advice.
Forsters’ Contentious Trusts and Estates team expands with the hire of Alison Meek
26 April 2022
News
Forsters is delighted to announce that Alison Meek will be joining the firm on 3 May as a Consultant in its award-winning Contentious Trusts and Estates (CTE) practice.
Alison is recognised for her extensive international and domestic experience acting for professional trustees and trust companies, executors and beneficiaries on a diverse range of disputes involving trusts and estates. With over 25 years of CTE experience, Alison has been appointed by the High Court to act as an executor in complex estates and in the Court of Protection to act as a deputy. She is also a trained mediator and regularly uses mediation and ADR as an effective way to resolve family disputes.
A Legal 500 leading individual and a member of their Hall of Fame, Alison is acknowledged as one of the sector’s leading commentators. She has co-authored ‘The Practitioner’s Guide to Contentious Trusts and Estates’ and is a co-editor of (and contributor to) ‘International Trust Disputes’. She is a founder of ACTAPS (Association of Contentious Trust and Probate Specialists).
Alison Meek commented: “I am very excited to be joining the vibrant and expanding CTE team at Forsters led by the impressive Roberta Harvey. I have been made to feel so welcome by the team and am looking forward to helping Roberta to grow the practice further”.
Roberta Harvey, Head of Contentious Trusts and Estates at Forsters, commented: “Alison is a long standing and respected member of the CTE community and I am delighted that she will be joining the Forsters team”.
Her appointment follows the arrival of Senior Associate, Maryam Oghanna, and Associate, Rory Carter, who joined the team in October. The recruitment of three new CTE solicitors over the last six months is a clear demonstration of the team’s growing success and reputation in supporting clients with contentious trusts and estates.
The practice is ranked highly in both Chambers UK and The Legal 500, with sources reporting: “Forsters is one of the best contentious trusts and estates teams. Roberta heads up a busy and expanding team, with disputes ranging from English probate disputes to large-scale international matters”.
Death in the Modern Age conference: Hannah Mantle to speak on Conflict of Laws and multi-jurisdictional claims
25 April 2022
News
Contentious Trusts and Estates Senior Associate, Hannah Mantle, will be speaking at the ThoughtLeaders4 Private Client conference, Death in the Modern Age: UK & Cross-border probate, wills, and trusts on 26 April 2022.
Hannah will be joined by Prof Jonathan Harris QC (Hon.) (Serle Court) and Aurélie Conrad Hari (Bär & Karrer) to speak on ‘Conflict of Laws and multi-jurisdictional claims’.
The event will explore the latest challenges and issues in Wills and Probate in the modern digital age and will include informative panel discussions, interactive workshops and seminars hosted by industry experts.
To find out more and to book a place at the conference, taking place at the Ironmongers’ Hall, London please click here.
The Register of Overseas Interests and Corporate Transactions
25 April 2022
News
We may not yet know when the register of overseas entities (the “Register”) to be set up under the Economic Crime (Transparency and Enforcement) Act 2002 (the “ECA”) will become effective, but we can be fairly certain that it will be in the not-too-distant future.
While the expected effects of the Register on real estate and finance transactions have been well-documented, will the new regime also be a factor to consider in corporate transactions?
The answer is yes, but possibly not to as great an extent.
The Register – the basics
Essentially, any overseas entity which owns UK property will be required to apply for registration. Various actions in relation to the property, such as its disposal or the registering of a charge against it, will be prohibited unless registration has occurred. The details of the beneficial owners of the overseas entity will need to be provided as part of the registration process and annual updates will be required to confirm if there have been any changes.
For a full overview of the Register, please see our briefing here.
The PSC Register
The PSC register has been around since 2016 and has become an accepted part of company administration. At this stage, there appears to be a fair amount of overlap between the PSC register and the Register. It is therefore arguable that the Register is simply a way of levelling the playing field between the information requirements expected of both UK and overseas entities, although admittedly with a focus on overseas entities which own UK property.
Corporate sales and purchases
In the case of a corporate sale or purchase, it is the shares in the asset-owning company which are sold and purchased, rather than the underlying asset itself. (For further information about the differences between asset and share deals in a property context, see here.) As such, the direct owner of the asset does not change. So, where the asset is a property, a share sale requires no change in the title to be registered at HM Land Registry.
However, no purchaser will want to acquire shares in a target company if it has not complied with its statutory obligations and the potential sanctions of failing to comply with the Register’s requirements are severe, so we can expect to see specific reference to the Register in share purchase agreements (“SPAs”) going forward. The extent of these references will depend on the timing of the transaction.
Let’s consider the case of a UK property owned by an overseas entity (the “Target”). The shares (or equivalent) in the Target are to be sold by the current shareholders.
1. Exchange/completion before the Register takes effect
The Target and its beneficial owners cannot be registered in the Register before completion and so there will be no need to incorporate Register-related provisions in the SPA. Applying to register the Target and its new beneficial owners will be a post-completion matter for the purchaser and Target to deal with once the Register is open. They will need to bear in mind that there is a six-month window once the Register is up and running (the “Transitional Period”) in which the application can be made.
2. Exchange/completion during the Transitional Period
If exchange/completion of the transaction is to occur during the Transitional Period, the parties will need to decide who is responsible for registration. Assuming completion will take place before the end of the Transitional Period, the seller could argue that registration is of no concern to it and that the purchaser should apply for registration post-completion, whereas the purchaser may demand that it be dealt with by the seller/Target before completion. In a straightforward structure where the beneficial owners can be easily ascertained the actual application to register should be quite straightforward (although we have not yet seen the form that Companies House will require) and so in reality, this may not be a significant issue for either party.
Where the seller agrees to apply for registration before completion, the purchaser may require comfort in the form of a warranty that registration has been achieved. Although likely to be caught by a compliance with laws warranty, expressly referring to the Register may assist with focussing the seller’s/Target’s minds. The purchaser will also expect to see evidence of due registration.
Where the transaction comprises a split exchange and completion, the purchaser may require the inclusion of a condition that registration will be completed, and that the Target will not remove itself from the Register, prior to completion.
3. Exchange/completion after the Transitional Period
If exchange/completion is to take place after the end of the Transitional Period, the Target should already be registered, assuming that it has held the property for some time. In this instance, we can expect to see warranties confirming that the Target is duly registered, the information on the Register is correct and any annual updates have been correctly made. Again, this will arguably be caught by a compliance with laws warranty, but purchasers may require express comfort.
If exchange and completion of the transaction is not simultaneous, the purchaser may require the Target to comply with any updating requirements that arise between exchange and completion or a repeat of the above-mentioned warranty on completion and comfort that the Target will not remove itself from the Register prior to completion.
Registration of charges at Companies House
Some of us can remember a time when charges against overseas entities were routinely sent to Companies House for the sole purpose of receiving the rejection letter as evidence that an attempt to register the charge had been made. This is no longer required, but query whether the practice will re-instated now that more overseas entities will be registered. Time will tell.
Disclaimer
This note reflects our opinion and views as of 25 April 2022 and is a general summary of the legal position in England and Wales. It does not constitute legal advice.
No ‘planning panacea’ through Section 106 and CIL abolition: Matthew Evans speaks to Property Week
22 April 2022
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Earlier this month, the government announced its intention to replace Section 106 planning obligations and the tariff-based Community Infrastructure Levy (CIL) with a new, uniform infrastructure levy. Whilst the proposed change is expected to simplify the system, is a uniform levy really the answer?
Planning Counsel Matthew Evans says that the government’s announcement has already started to cause disruption, “many local authorities have paused CIL reviews on the basis that it is pointless to bring forward plans that will possibly change in a few years”. He believes there are difficulties associated with a one-size fits all levy, not least because one of the ideas behind the initial introduction of CIL was that “it was going to do everything that the new levy will”, which he says, didn’t work out because “fundamentally, there are complicated elements that still need these bespoke agreements, one of which is affordable housing”.
Evans stresses the need for greater detail on the government’s proposals (and soon) before development in some areas could either slow or stop altogether.
This article was first published in Property Week on 21 April 2022 and is available to read here, behind the paywall.
Forsters has advised Fiera Real Estate UK (“FRE UK”) and Wrenbridge on the sale of a 33,000 sq. ft. urban logistics unit in Park Royal, London
22 April 2022
News
The property was purchased from Wrenbridge and Fiera Real Estate’s Opportunity Fund V UK, a programmatic venture series with CBRE Global Investment Management.
The asset, which is currently let to a cosmetics wholesaler with a lease expiry in December 2022, was purchased by Vengrove for VRE Industrial Partners (VREIP), its UK value-add industrial and logistics strategy. It is VREIP’s first acquisition in London, as it seeks to assemble a regionally balanced UK portfolio.
Chris Button, Fund Manager at FRE UK, commented “We are delighted to have completed on the sale of this high-quality asset, located in the midst of London’s logistics hub. Fiera Real Estate has considerable funds to commit to sites with similar features around the UK.”
Commercial Real Estate Partners Smita Edwards and Jade Capper advised on the deal. Stonehill also acted on behalf of FRE UK and Wrenbridge. Vengrove was advised by Levy Real Estate, Dentons, Hollis and Nova Ambiente.
Forsters’ Planning team shortlisted for Planning Awards
22 April 2022
News
We are delighted that Forsters’ Planning team, headed up by Victoria Du Croz, have been shortlisted for Planning Law Firm of the Year at the Planning Awards 2022.
The Planning Awards, now in their ninth successive year, showcase the outstanding work across the planning and placemaking sectors through recognition of projects, plans, people and organisations that are making places better.
Forsters Planning team has a strong reputation within the real estate market both as technical experts, and for building strong and lasting relationships. This recognition (particularly acknowledging Planning Counsel, Matthew Evans‘ involvement with Greenwich Peninsula – one of the largest regeneration projects in Europe) is testament to their continued growth, dedication to clients and expertise in this specialist area of law.
The winner will be announced on June 9 at a live awards ceremony at The Mermaid London.
The impact of Croydon LBC v Kalonga on fixed-term tenancies: Sarah Heatley speaks to Property Week
21 April 2022
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Property Litigation Senior Associate, Sarah Heatley, has written for Property Week on the recent judgement handed down by the Supreme Court in Croydon LBC v Kalonga [2022] UKSC and the impact this will have on fixed-term secure tenancies.
Until the Localism Act 2011 came into force, it was relatively straightforward for landlords to obtain possession of their properties (subject to serving the correct notice period and agreement by the courts). The Act and the advent of flexible tenancies changed this, making it unclear how possession could be obtained during the fixed term (usually of at least two years).
In the case of Kalonga, the Supreme Court held that there are two ways of doing so – via a break clause or a forfeiture clause in the tenancy contract – without which, the tenancy would continue until the end of the fixed term.
Heatley says: “The clarity by the Supreme Court on this matter will surely be welcomed by landlords and tenants alike.”
The article was first published on Property Week on 13 April 2022 and is available to read here, behind the paywall.
Decrypting Crypto for the Private Client: James Brockhurst to present at the Dubai Informa Connect Conference
21 April 2022
News
Private Client Partner, James Brockhurst, has been invited to present a session at the Informa Connect Conference ‘Cross Border Planning: The Next Generation’ in Dubai.
The conference programme focusses on unpacking the key issues facing internationally mobile private clients. International practitioners will discuss a vast range of matters around immigration, structuring, litigation, family governance and investment management.
James will join Emma Heelis-Adams of Burges Salmon on Thursday 12 May at 14:00 GST to present the session entitled ‘Decrypting Crypto for the Private Client’. Amongst other things, James will talk about the most topical crypto work we are undertaking for clients.
Why acting as an RMC director carries some risk: Christine Dubignon and Samantha Tomczyk write for Property Week
21 April 2022
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Corporate Partner, Christine Dubignon, and Residential Property Senior Associate, Samantha Tomczyk, have authored an article for Property Week entitled ‘Why acting as an RMC director carries some risk’.
Resident management companies (RMCs) are owned by leaseholders to deal with their management and maintenance needs.
RMCs are required to have directors, who are responsible for their day-to-day management. Christine and Samantha highlight to readers that acting as a director “is usually an unpaid role and does carry some risk”.
In their article, they explain the key risks one faces when acting as a director, from time commitments to personal liability.
Landlords under threat as clamour grows for rent controls: Helen Streeton speaks to React News.
19 April 2022
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Scotland and England have vowed to bring in rent controls and mayors in England are lobbying for the same power.
With the long-term effectiveness not yet proven, there are concerns over the impact of such measures on the supply of rental properties if regulation were to increase, and fears that it could result in landlords “voting with their feet”.
Commercial Real Estate Partner and Head of Build To Rent, Helen Streeton, spoke to React News about what this could mean for the Build To Rent sector:
“Build To Rent developers faced with dwindling returns could also decide to shut up shop. It happened with the Buy to Let sector… When the government abolished interest relief on mortgage payments, a lot of people just withdrew from the market”.
Whilst suggesting that the government could “provide a rent subsidy to tenants or incentivise developers to build more houses by giving them a tax break”, Helen admits there would be a “time lag between introducing a tax break and tenants seeing reduced rents”.
Property industry eyes will be firmly fixed on Scotland to see what happens next…
This article was first published in React News on 14 April 2022 and is available to read in full here, behind the paywall.
Commenting that she would firmly focus on increasing funding to local planning authorities, she said “to enable compulsory training to all planning committees so they have a better understanding of the statutory basis for determining planning applications.”
This, Victoria says “would reduce the number of decisions overturned on appeal or through judicial review and would lead to greater faith in the local decision-making process both from members of the public and developers.”
This article was first published in React News on 8 April 2022 and is available to read in full here, behind the paywall.
After two years of postponements, the conference will bring together leading solicitors, barristers, offshore lawyers and trust practitioners.
Emily and Roberta will be hosting alongside Andreas Zavos (Boodle Hatfield), Maxine Mossman (Clifford Chance), Jenny McKoewn (Stephenson Hardwood), Helena Berman (Stephenson Harwood) and Emma Jordan (Taylor Wessing).
So, you want to be a non-executive director? Stuart Hatcher writes for ePrivateClient
13 April 2022
Views
Corporate Partner, Stuart Hatcher, has written for ePrivateClient on what to be aware of when thinking about non-executive directorships for private companies.
In the article, Stuart highlights key questions and matters to be considered by anyone thinking about taking on a non-executive director role, as well as those already undertaking one. He also gives practical insights for how private companies can make best use of non-executive directors in their organisations.
The article was first published on ePrivateClient on 13 April 2022, and is available to read in full here.
The Commercial Rent Bill: A Last Resort for Pandemic-Related Losses – Julia Tobbell writes for CoStar
13 April 2022
Views
Property Litigation Partner, Julia Tobbell, has written for CoStar News on The Commercial Rent (Coronavirus) Bill and the end of the moratorium on tenant evictions.
Whilst the Act creates a mechanism to address the issue of rent arrears accrued during the pandemic, the length and expense of the arbitration process suggests that the Government intends parties to use it only as a last resort.
Tobbell says, “Ordinarily arbitration is a private process, which is attractive to many commercial parties. However, the Act allows either party to request an oral hearing in public, and awards must be published except for limited confidential information. This could be a powerful disincentive to proceeding down this route, as tenants will have their finances laid bare in a public forum.”
The article was first published in CoStar on April 6 2022 and can be read in full behind the paywall here.
Art, Death & Legacy: Forsters and Artistate host panel discussion at the London Art Fair
11 April 2022
News
Catherine Hill, who heads Forsters’ Art Group, will be one of three keynote speakers in ‘Art, Death & Legacy: Managing artists’ estates in the 21st century’ at the London Art Fair.
“Running an artist’s estate is a complex business. The logistics of storage, archiving and insurance, the administration of loans, consignments and other contractual issues, copyright and Artist Resale Rights, curatorial decision-making and reputation management – the range of skills and knowledge required is very broad. This all plays out against the backdrop of providing for the artist’s surviving family whilst at the same time ensuring that the right body of work remains in the public eye for years to come. Addressing all these issues needs specialist help at different points along the way. Knowing who to speak to and when is key”.
In this panel discussion, Catherine Hill, a co-founder of Artistate, will be joined by guest speakers Sam Mundy (British painter) and Matthew Travers (Director of Piano Nobile Gallery) to draw on their experiences of working with and running artist estates and explore what measures artists can take to prepare their own legacy.
The session, moderated by Artistate’s Jessica Carlisle, will take place on Thursday 21 April 2022 at 1pm and you can book a ticket here.
Forsters’ Art Group are also delighted to be one of the sponsors of the fair. If you are attending the fair and would like to connect with a member of our team, please contact [email protected].
Q&A: Five minutes with Andrew Crabbie, Head of Real Estate at Forsters, speak to Property Week
8 April 2022
Views
Head of Real Estate, Andrew Crabbie, spoke to Property Week on how he got started in property, his book and podcast recommendations, the celebrity he would most like to meet and his number-one travel destination.
Andrew said “I have spent my career in a fascinating industry that continues to evolve, inspiring and challenging us all – never more so than in present times.”
The article was first published on Property Week on 7 April 2022, and is available to read in full here, behind the paywall.
Residential Property Developer Tax – the clock’s ticking
8 April 2022
News
As Residential Property Developer Tax (“RPDT”) has now begun, it’s worthwhile reminding ourselves of the key points surrounding it.
Announced by the UK government a little over a year ago, in February 2021, RPDT is essentially a tax to be paid by residential property developers, which is intended to repay the government for the costs of remedying dangerous cladding on high-rise buildings. Sadly, it took the Grenfell Tower tragedy in 2017 for the dangers to come to light.
RPDT will apply from 1 April 2022 at a rate of 4% of profits which exceed £25 million per annum and which arise from UK residential property development activities. According to the government, the intention is to raise £2 billion over the next 10 years although no repeal date for the tax has been legislated, so it will be a case of “watch this space”.
Tax partner, Elizabeth Small, wrote about RPDT for Taxation magazine in December 2021. Her article, which answers key questions for property developers about the tax, can be found here.
Disclaimer
This note reflects our opinion and views as of 7 April 2022 and is a general summary of the legal position in England and Wales. It does not constitute legal advice.
Economic Crime (Transparency and Enforcement) Act 2022: What does the Register of Overseas Entities mean for lenders?
7 April 2022
News
The ECA received Royal Assent on 15 March 2022 and covers three main areas – the creation of the Register, amendments to the unexplained wealth orders regime, and amendments to the sanctions regime. This note provides a brief overview of the Register, how lenders will be affected, and some practical steps lenders may wish to take.
UK entities are already obliged to disclose their beneficial ownership information pursuant to the PSC regime. However, the ECA requires Overseas Entities which have acquired a Qualifying Estate in the UK since 1 January 1999 to register their details and the details of their beneficial owners (essentially any legal person who can exercise control or influence over the Overseas Entity) on the Register.
Any Overseas Entity that intends to acquire a Qualifying Estate is also required to register.
(There is no need for an Overseas Entity to actually own the Qualifying Estate before registration; any Overseas Entity may apply to join the Register.)
All Overseas Entities holding a Qualifying Estate need to apply for registration on the Register within the Transitional Period. Failure to comply with the registration requirements by the end of the Transitional Period is a criminal offence.
Upon registration the Overseas Entity will be allocated an ID number and provided with evidence from Companies House confirming their registration. Companies House has not yet given details as to how this will work in practice.
The information included on the Register must be updated annually (or confirmation provided that there is no update). Failure to comply is a criminal offence.
What does this mean for UK land transactions?
During the Transitional Period the Land Registry must place a restriction on the title to any Qualifying Estate owned by an Overseas Entity and acquired on or after 1 January 1999. This restriction will take effect after the Transitional Period and will prevent the registration of any Relevant Disposition of Land unless the Land Registry has seen evidence that entry to the Register has been made, or that an exemption applies. This means that legal title will not pass unless the restriction on title has been complied with.
What does this mean for lenders?
The main focus for lenders is the potential impact of the ECA on (i) the registration by the Land Registry of a legal charge granted over a Qualifying Estate; and (ii) a lender’s ability to enforce such a charge.
The grant of a legal charge: is a Relevant Disposition of Land and as such, in order to register the legal charge at the Land Registry, the Overseas Entity which holds the charged Qualifying Estate will need to be registered on the Register.
Enforcement of registered legal charges: the ECA provides a number of situations in which a Relevant Disposition of Land will be registered by the Land Registry, notwithstanding the non-registration of the relevant Overseas Entity on the Register. These include where a secured creditor (or a receiver appointed by the secured creditor) exercises its power of sale under a registered legal charge and a disposition made by a specified insolvency practitioner in specified circumstances (although the actual meaning of “specified insolvency practitioner” and “specified circumstances” are yet to be provided).
The ranking of legal charges could also be affected by the Registrar of Companies’ ability to put in place a charge securing payment of financial penalties imposed for non-compliance with the ECA. The details of such a charge and how it will rank against other charges will be set out in regulations still to be published.
At present the legislation does not refer to any requirement to register legal charges over a Qualifying Estate against the Overseas Entity at Companies House.
What steps need to be taken?
Where an Overseas Entity is the borrower or the grantor of a legal charge over a Qualifying Estate, the “compliance with laws” clause in the finance documents is likely to cover its obligations under the Register, but specific provisions should also be included to focus borrowers’ minds on the need for compliance.
The required steps will depend on when the legal charge was or will be granted.
Scenario 1: Legal charge already registered at the Land Registry (since 1 January 1999)
Lenders should be mindful of which of their clients and security arrangements will be affected by the new registration requirements and consider whether to remind any of their clients about the registration obligations under the ECA.
Scenario 2: Legal charge to be entered into prior to the Transitional Period
Lenders should ensure that appropriate obligations are included in the finance documents, for example, undertakings that the Overseas Entity will apply to be duly registered within the Transitional Period, comply with the annual update requirements and provide the lender with evidence of such registration and compliance.
The ability to grant a Registrable Lease should also be considered, for example, by including an undertaking that where such a lease is to be granted to an Overseas Entity, they will apply to be duly registered within the Transitional Period.
Scenario 3: Legal charge to be entered into during or after the Transitional Period
A legal charge is a Relevant Disposition of Land and so can only be registered at the Land Registry if the Overseas Entity is registered in the Register.
Ideally, the Overseas Entity in question should be registered in the Register before the finance documents are entered into, but in any event, the finance documents should include a provision, such as a condition precedent, requiring the Overseas Entity to be registered in the Register before a drawdown request is made (and within the permitted timeframe), obliging the Overseas Entity to comply with the annual update requirements and requiring the Overseas Entity to provide the lender with evidence of such registration and compliance.
The ability to grant a Registrable Lease should also be considered, for example, by including an undertaking that such a lease will only be granted to an Overseas Entity which is duly registered in the Register.
GLOSSARY
Some of the terminology used in this article explained:
ECA: the Economic Crime (Transparency and Enforcement) Act 2022.
Overseas Entity: any body corporate, partnership or other legal entity which is governed by the laws of a country outside of the UK. This therefore catches entities based in the Channel Islands and the Isle of Man.
Qualifying Estate: a freehold estate in land, or a Registrable Lease.
Register: the register of overseas entities created pursuant to the ECA and to be managed by Companies House.
Registrable Lease: a leasehold estate in land granted for a term of seven years or more. (Note that this is not the same definition as used in the Land Registration Act 2002).
Relevant Disposition of Land: a transfer of a freehold interest, the grant or assignment of a Registrable Lease, and the grant of a legal charge.
Transitional Period: six months from the date of the registration requirements coming into force (a commencement date for these provisions under the ECA has not yet been stipulated).
Disclaimer
This note reflects the law as at 7 April 2022. The circumstances of each case vary and this note should not be relied upon in place of specific legal advice.
Jo Edwards appears across primetime TV and radio to discuss the introduction of No Fault Divorce
7 April 2022
Views
Head of Family, Jo Edwards, has been invited to appear across multiple broadcast channels this week to discuss the introduction of no fault divorce in England and Wales.
From 6 April 2022, no fault divorce comes into force, giving separating couples a less acrimonious divorce process as they no longer need to apportion blame for the breakdown of their marriage. As a long-term campaigner for this legislative change, Jo Edwards appeared on BBC Radio 4, ITV’s Good Morning Britain and Lorraine and GB News, amongst other channels, to explain the change in the law and the benefits for separating couples and their children.
A summary of the Jo’s media appearances, key talking points and links to the recordings can be found below.
Jo, is the former Chair of Resolution and launched Resolution’s Manifesto for Family Law in February 2015 calling for the removal of blame associated with divorce. She has been a leading figure for the movement for over 10 years.
BBC Radio 4’s Money Box
Jo was invited to appear on BBC Radio 4’s Money Box on Saturday 2 April to discuss the advent of no fault divorce, with a particular emphasis on the topic of money on divorce/pensions.
Interviewed by Paul Lewis, Jo explained that the campaign for no fault divorce began three decades ago. She highlighted that the reform is not intended to establish a means for a quick divorce but an ‘end to the blame game’ meaning a kinder process.
“This is about couples who usually think very long and hard about their decision. It is positive that they will be able to petition or to apply now jointly, but whereas you say one person may be applying where the other one doesn’t want it, my expectation would be that there would have been many months of discussion about that before one person took that step”.
In addition, Jo touches on the six month minimum period imposed for those seeking a no fault divorce –
“Six months is a minimum, it’s not how long the divorce and everything related with it is going to take… The hope is that it will be possible during that period to sort out issues to do with finances and children. However, it’s really important that people don’t rush that. Ideally, they need to take proper advice, particularly in relation to pensions. Now, we know that only about 41% of divorcing couples at the moment have any sort of financial order and only about 12% deal with pensions, and that is something which is of particular concern.
“What research shows is that women generally are more likely to have emotional attachments to houses and men to pensions, so women quite often are willing to make what can turn out to be disadvantageous trades and it’s ever so important that people do seek the appropriate actuarial advice to properly value the pensions and what will be a fair outcome in relation to pensions when looking at all of the assets in a particular case and that may well take longer than six months”.
Joined by Ulrika Jonsson and interviewed by Ranvir Singh, Jo focussed on the changes the new law would bring and its impact on children.
Jo explained that the previous law had meant that unless couples had been separated for at least two years, they needed to apportion blame to instigate divorce proceedings, which created a level of acrimony that invariably spilled over into discussions relating to finances, but more importantly in relation to children. She highlighted that “psychiatrists explain it’s how the separation is managed that impacts the children”, rather than the separation itself.
Now, one partner, or both together, can apply for divorce without having to give a reason or apportion blame.
On what this means for people, Jo explained that “this is going to be huge.. sadly and invariably couples drift apart, reflecting long and hard on divorce proceedings, and it was horrifying for them to find out upon seeing me that they have to apportion blame”. The new law aims “to make this a kinder process”.
The full interview can be watched here from 11m27.
The Briefing on GB News with Tom Harwood
Jo’s interview with Tom Harwood on GB News’ The Briefing focussed on the 30 year-long campaign for law reform.
When questioned why it has taken so long, Jo explained that the reform was not regarded as an election vote winner and it was only as a result of the case of Owens in 2018 that the pressure for change grew, once the potential injustice of the previous law was evident to the public. In Owens the court refused an unhappy wife a divorce from her husband, despite his alleged unreasonable behaviour, because it was not adjudged that he had behaved sufficiently badly. On appeal, the Supreme Court made clear that the situation was unfortunate but said that their hands were tied because of the law as it stood, which they encouraged law-makers to address.
Harwood also probed Jo on whether no fault divorce would water down the constitution of marriage. She reassured viewers that will not be the case – “Decisions to divorce are often made ignorant of the law”, with many couples coming to solicitors not knowing the law or their rights and having reflected long and hard on their decision. Jo made clear that we will likely experience a brief increase in the number of divorces due to people waiting for the new law, but this will settle down in the longer term.
LBC News
During her interview with Jim Diamond on LBC News, Jo covered the topic of cost and accessibility.
“The hope is that the [new divorce] procedure is more accessible for members of the public”. Once the decision to divorce has been made, couples can now go online and instigate the process themselves, and it is simpler than it was before.
Jo did warn, however, that legal advice should still be sought to resolve other important aspects surrounding finances and child arrangements.
The full interview can be listened to here from 2:28:20.
Construction Focus – Insolvency in construction: Dan Cudlipp writes for the Property Law Journal
7 April 2022
Views
Construction Associate, Dan Cudlipp, has written for Property Law Journal, assessing the increasing risk and legal consequences surrounding construction-related insolvencies.
This article was first published in Property Law Journal 396 (April 2022) and is also available on lawjournals.co.uk.
The article, entitled “Construction Focus: Insolvency in Construction” outlines the specific challenges faced by construction companies, the contractual consequences when a main contractor enters insolvency, and the practical next steps for dealing with such issues.
Cudlipp says “there are a number of separate but closely connected factors that are combining to make life tough for construction companies, but all are underpinned by the Covid-19 pandemic, which had an immediate yet lingering impact on a construction industry already seeking to navigate the vagaries of Brexit.”
The challenges faced by the industry show little sign of letting up.
Championing the eclectic Modern and Contemporary Art scene – Forsters sponsors this year’s London Art Fair
7 April 2022
News
Forsters’ Art Group are delighted to be sponsoring the London Art Fair’s Preview Evening on Wednesday 20 April and look forward to meeting seasoned and aspiring collectors, gallery owners and artists at the launch event.
The London Art Fair, which is returning to the capital this Spring from 20 to 24 April 2022, features over 100 selected galleries celebrating the best in modern and contemporary art to discover and buy. From prints and editions, to major works by renowned artists from the 20th century to today; the Fair nurtures collecting at all levels, providing expert insight through an inspiring programme of talks, tours and curated exhibitions.
Catherine Hill, who heads Forsters’ Art Group, will be attending the preview evening alongside our specialist team of art lawyers who regularly advise on the legal practicalities of acquiring, owning and creating art. Catherine comments: “We are looking forward to sponsoring the London Art Fair’s Preview Evening, a highlight in the capital’s art calendar. It’s a great opportunity to champion the thriving modern and contemporary art scene and to support those collecting and selling art.”
Catherine will also be taking part in the fair’s programme of talks as one of three keynote speakers in the panel discussion ‘Art, Death & Legacy: Managing artist estates in the 21st century’ on 21 April at 1pm.
If you are attending the fair and would like to connect with a member of our team, please contact [email protected].
The biggest shake-up of divorce in 50 years: Jo Edwards quoted in The Guardian on no fault divorce
5 April 2022
Views
Head of Family, Jo Edwards, has been quoted in The Guardian (4 April 2022) on the advent of no fault divorce, which will become law on 6 April. Under the new legislation, either or both parties to the marriage may apply to the court for an order which dissolves the marriage on the ground that it has broken down irretrievably.
In the article, entitled ‘Surge in divorces expected as England and Wales introduce no-fault process this week’, Jo explains an increase in divorce cases is to be expected – “the experience of other countries where they’ve moved to a no-fault system is that there is a spike when the new law comes in – in Scotland, for example, when they changed the law in 2006”.
Faced with a question on whether this will add undue pressure on the courts, Jo highlights that “in the medium to longer term the change would probably reduce the burden on the courts because cases would require less judicial oversight, as there would be no ground for a spouse to contest the divorce”.
Jo has been at the forefront in campaigning for the no fault divorce law reform. She is an avid pioneer in finding less confrontational routes to resolving issues arising on divorce or separation and has dedicated much of her career to championing the modernisation of family law in England and Wales.
Greening Greenwich: Matthew Evans writes for Opportunity London
4 April 2022
Views
Planning Counsel, Matthew Evans, has written for Opportunity London – New London Architecture’s brand new website, launched in partnership with Mayor of London, City of London Corporation, London Councils and London & Partners.
Contributing to the launch, Matthew shares experience from Knight Dragon’s Greenwich Peninsula (which Forsters has advised on from the outset) as a project that demonstrates ESG value and confirms London’s status as a leading world city for global investment.
In 1994, author and entrepreneur John Elkington coined the phrase the “triple bottom line”. With it he introduced the “3Ps”: people, planet, profit. His vision was that in future, organisations would measure success not solely by profit, but also by reference to the positive or negative effects organisations had on society more broadly.
Over the following decades, the shift away from the supremacy of shareholder value towards stakeholder value has become a defining trend in management thinking and is exemplified in projects like the 150-acre, £8.4bn Knight Dragon Greenwich Peninsula regeneration project in Southeast London.
Forsters LLP has advised on the project from the outset, engaging with a broad group of stakeholders on a vision that prioritises people and planet, but achieves these aspirations through attractive investment opportunities.
The project is among Europe’s largest regeneration schemes, comprising 17,487 new homes, 75,000 sq. ft. of offices, 23,000 sq. ft. of retail and restaurants, and 42,000 sq. ft. of education facilities, serving five new neighbourhoods.
People
Twelve years prior, the Greenwich Peninsula was an industrial wasteland. What has followed is a model of urban transformation in which the economic, social, educational and welfare needs of residents have guided the planning, design, and build. The project is expected to provide 12,000 new jobs and includes three new primary schools (one already provided), a healthcare centre and sports facilities. Among innovative features of the development has been a community fund – calculated on a per-household basis – to which developers contribute as construction begins on different phases. Its purpose is to maximise the social value and community investment and supplements the work of Greenwich Local Labour and Business (GLLaB).
Planet
De-carbonisation has been a dominant theme in the project, which includes sophisticated offset mechanisms, and developer contributions to borough-wide council funds. Each building must not only comply with the UK’s forward-looking building regulations, but also meet ambitious green targets specific to the project. In the event of failure to meet requirements, remedies include re-work or enhanced financial contributions to carbon offsets. Other initiatives include a centralised energy centre providing hot water and heating across the entire site, with the goal of helping decarbonisation.
Profit
The economics of the project, especially job opportunities for residents, have been a high priority. Interests have been carefully balanced between profit maximisation and the need to make this landmark development open and accessible. Most obviously this manifests itself in balancing provision of ‘affordable’ homes with homes at the higher end of the market. By working with stakeholders, it has been agreed that housing developer L&Q Group will deliver a minimum of 60% Affordable Housing (AH) in Brickfields and a minimum of 28% AH will be delivered across the Peninsula as a whole.
Balancing the ever-evolving interests of such diverse stakeholder groups is a phenomenal challenge, but central to achieving the ambitious vision of this project. Its successful completion will transform an over-looked site on the Thames and uplift the lives of resident individuals and communities alike. I’m sure John Elkington would approve.
opportunity.london is the definitive guide to development and investment opportunities in London, investing in London’s communities and promoting sustainable investment into real estate, regeneration and green infrastructure across London’s boroughs and communities.
Thursday saw an antitrust tribunal refuse to allow a £1 billion forex rigging claim to proceed as an opt-out collective action, marking a toughening approach that attorneys say will rein in cases brought under the U.K.’s class action regime.
Harbord said “the court for the first time had to consider whether it could act on its own initiative and gave very strong guidance that it doesn’t like the claim. That is significant.”
The article was first published on Law360 UK on 1 April 2022, and is available to read in full here, behind the paywall.
Forsters advise Gulf International Bank on HQ letting and sub-lease
2 April 2022
News
Forsters have advised Gulf International Bank (UK) Limited on the acquisition and legal aspects of the fit out of their 1 Curzon Street headquarters and subsequently on a sub-lease of part to an international investment bank.
GIB is a leading pan-GCC universal bank offering a diverse range of financial products and services and bespoke banking solutions to a wide customer base.
Glenn Dunn, Head of Forsters’ Corporate Occupiers group, advised GIB and was assisted by Owen Spencer, Richard Spring and Bethan Richards.
Forsters, the leading London real estate and private client law firm, announces today that it has promoted six Senior Associates to Partner and four to Counsel. This is the single largest round of promotions that the firm has recorded in in its 24-year history. Forsters now has 66 partners and 420 other members of staff.
Emily Exton, Managing Partner at Forsters, commented: “We have promoted 10 talented lawyers from across our practice areas, reflecting the fantastic talent pool we have at Forsters and the strength of the firm’s business. Each of these exceptional individuals has already established a strong market profile and has a track record of providing technically excellent advice to our growing client base while also contributing to our positive working culture. I look forward to working with them as they continue to develop in their new roles.”
James Brockhurst, new Partner in our Private Client team, commented: “Forsters is an extremely powerful player in my sector, private wealth, so I am delighted to be joining the partnership. I will be working with clients and intermediaries in the offshore market, and especially look forward to promoting our business in the Middle East. Alongside this, I will continue to work on a deep level in the cryptoassets space, as that industry grows rapidly.”
Jade Capper, new Partner in our Commercial Real Estate team, commented: “I am delighted to have been promoted to Partner during my 10th year at Forsters. Having trained at Forsters, I am excited to be embarking on this new role at the firm and to continue working with our brilliant Commercial Real Estate team and fantastic clients on a broad range of investment and development work. I look forward to further contributing to the team and the firm as a whole, and helping to grow our already formidable network of industrial and logistics clients and advising them on complex and interesting high value deals.”
Amy France, new Partner in our Commercial Real Estate team, commented: “I am delighted to have been promoted to Partner. Having trained at Forsters it is a very special opportunity for me to join the next generation of Partners who will help to steer the firm forward. I am looking forward to leading the Later Living practice within the Commercial Real Estate team and advising our clients who are investing in this exciting growth sector. I will be working alongside the other real estate partners to ensure that our clients receive the fantastic Forsters’ service that we are rightly recognised for.”
Anthony Goodmaker, new Partner in our Commercial Real Estate team, commented: “Having trained at the firm, to become a Partner at Forsters really means a lot to me. I am incredibly proud and excited to be making this step up at such an interesting time for the real estate industry. I am keen to build on our existing network of fantastic clients across the spectrum of investment and development work, with a particular focus on the industrial and logistics sector. As a Partner, I look forward to further contributing to our team and the firm as a whole.”
Caroline Harbord, new Partner in our Dispute Resolution team, commented: “I feel so proud to now count myself among the partners here at Forsters. In addition to being home to fantastic lawyers, the firm is a trail blazer on gender equality and has fostered a culture which really promotes thought leadership. As a partner in the Dispute Resolution team, I look forward to continuing to build my commercial litigation practice, and in particular helping trustees and other parties recover offshore investment losses.”
Anna Mullins, new Partner in our Property Litigation team, commented: “I am delighted to have been promoted to partner in our highly-regarded property litigation team. This promotion reflects the success and growth of our team. I look forward to working strategically with the partners in our award-winning commercial real estate and residential practices to ensure that we continue to grow and deliver a first-class service to our clients.”
Michael Armstrong, new Counsel in our Private Client team, commented: “Having trained at Forsters, I am delighted to have been promoted to Counsel in our award-winning Private Client group. This promotion confirms the firm’s commitment to mental capacity work, and I am looking forward to the chance to develop my practice advising and supporting vulnerable clients and their families.”
Polly Reeve, new Counsel in our Rural Property team, commented: “Having been with Forsters since 2010, I am delighted to be moving to this next phase of my career with the support of such an excellent team around me – our top ranked Rural Property practice provides a strong platform for this to happen. This promotion reflects the expertise we have built and continue to build in the rural sector and in my particular case, in rural transactions, complex and high value residential and mixed-use developments and renewables. My expertise in rural housing development and green energy projects, particularly solar, battery storage facilities and wind farms in rural areas are key issues for our clients and I will developing a broader practice in this demanding area of law.”
Amanda Sandys, new Counsel in our Family team, commented:
“In my new role as Counsel I will be further developing my expertise in advising and supporting clients who are part of a growing network of modern families, with a focus on the financial and parenting issues that can arise on separation particularly amongst cohabitants. Working closely with the wider team, and building on our strong market reputation, I look forward to contributing to the ongoing success of our practice.”
Bryan Shacklady, new Counsel in our Dispute Resolution team, commented: “I am looking forward to developing further our market leading dispute resolution practice, which is unique in combining highly effective commercial litigation with other practice areas for which Forsters is justifiably renowned.”
