The rise of cryptocurrency, and in particular Bitcoin, means divorcing couples may use the currency to hide their wealth from one another. While couples have a duty to provide full and frank disclosure during a divorce, they said it is not unheard of for some parties to attempt to hide their assets from their respective…
In his 18th View from the President’s Chambers, Sir James Munby has set out his vision of what needs to be done in respect of the determination of financial remedies. He considers that procedural justice will be bettered by the appointment of specialist judges to the Financial Remedies Court (FRC) and by a process of…
TV presenter Noel Edmonds is suing the Lloyds Banking Group for £73m for what he claims was the destruction of his business empire together with public humiliation and damage to his reputation caused by the fraudulent activities of the bank’s HBOS Reading arm. He alleges that he “suffered immense economic loss as well as ‘distress…
The six stores to close in April are Birkenhead, Bournemouth, Durham, Fforestfach in Swansea, Putney and Redditch. Staff have been offered jobs in nearby stores. The closure of another eight shops has been proposed, which will affect 468 staff. The eight stores are: Andover, Basildon, Bridlington, Denton outlet store, Falmouth, Fareham, Keighley and Stockport. It…
According to UK Finance, the number of landlords who are seriously behind with their mortgage payments has increased by 20%. There were 1,200 buy-to-let mortgages in “significant arrears” in the last quarter of 2017, a fifth higher than in the same quarter in 2016.Significant arrears means they owe more than 10% of the outstanding balance.…
A Russian billionaire has appealed a decision that he pay his wife £453 million, as part of their divorce. It is believed that this is the largest award ever made in the English courts. The court found that the wife’s claim totalled 41.5 % of the marital assets, which was considered fair and just in…
The courts service (HMCTS) spent £50m last year on agency and contract staff; it spent less than £4m in 2010, whilst more than 220 courts across England and Wales have closed. Part of the increase appears to be linked to a £1bn court modernisation programme aimed at transferring more court hearings online or operating them…
New rules for recording domestic violence published in the journal Criminology & Criminal Justice argues that multiple incidents as serious as grievous bodily harm would be lumped together under the umbrella of one offence under the Domestic Abuse Bill. The Home Office said that “We will introduce a landmark Domestic Abuse Bill to protect and…
Online fashion retailer Asos saw strong sales over the Christmas period as total sales rose by 30% to £790m in the final four months of 2017. Online Manchester-based rival, Boohoo, which also owns PrettyLittleThings and Nasty Gal brands, saw revenues double to £228m in the four months to the end of December. The performance of…
Lloyds Bank has said it will provide £50m to support its small business customers who are struggling following the failure of outsourcing company Carillion and after the government refused to insure its debts. Meanwhile, Nationwide building society has said it will take in-house jobs which were performed by Carillion. Lloyds said its fund was for…