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From garage to unicorn – Employment law lessons for scaling tech teams
Catherine Bourne
Death does not release an individual from their debts and liabilities, nor does it allow transactions made to loved ones to escape challenge. This is so regardless of whether the transactions were made with the intention to defraud creditors.
The government has introduced two separate pieces of legislation aimed at redressing the abuse of “killing off” companies to escape liabilities. One recently came into force, the other is currently before parliament.
Whether the claimant or defendant, successful parties to civil litigation can be disappointed to hear that they are highly unlikely to recover all of their legal spend. The losing party is only required to pay what is considered reasonable and proportionate. A key feature in what is recovered is the reasonableness of the hourly rates charged by the successful litigant’s solicitors.
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