Personal Guarantees: What You Need to Know Before You Sign One
It is becoming increasingly common for lenders to look for ways to ensure payment when advancing funds. One of the most common ways they do this is by asking you—as an individual—to give a personal guarantee. What is a Personal Guarantee? A personal guarantee is a legal commitment made by an individual to personally […]
Understanding Personal Guarantees in Scotland: Key Legal Considerations
It is becoming increasingly common for lenders to look for ways to ensure payment when advancing funds. This is commonly done by way of personal guarantee. What is a personal guarantee? A personal guarantee is an individual’s legal promise to repay credit issued to a business for which they serve as an executive or […]
Navigating Commercial Entanglements in Friendships: Legal Remedies and Solutions
When friendships become commercially entangled and contracts are breached, rest assured, not all hope is lost! Our recent case highlights the complexities that can arise when personal relationships intersect with business interests. Case Overview: Friendship to Business Partnership We were recently instructed in a case whereby a friendship developed into a business relationship, and substantial […]
Understanding Time Bar in Legal Claims: Key Considerations and Recent Changes in Scottish Law
Most legal systems around the world have a limit whereby the Pursuer must raise a claim; this is widely known as time bar. Alternatively, in Scotland, it can be known as prescription, and in England, it is known as limitation. This is a key factor to be aware of when someone is considering raising a […]
New Bill Establishes 6 Month Pause on Debt Recovery Action for Mental Health Sufferers
The Bankruptcy and Diligence (Scotland) Bill, passed on 6th June 2024, is an Act of the Scottish Parliament which has significantly modified the Bankruptcy (Scotland) Act 2016 to establish a mental health Moratorium. This Bill addresses debt recovery action by creditors against individuals who have a mental health illness. Debt recovery is the process of […]
Rent Eviction Ban Lifted- What This Means for Landlords
What was the Eviction Moratorium in Scotland? The Tenant Eviction Moratorium came into place in 06 September 2022 by the Cost of Living (Tenant Protection) (Scotland) Act 2022 which meant that Landlords could still take steps toward evicting tenants such as giving Notice and subsequently taking action with the First-Tier Tribunal for an order to […]
Tips for Effective Debt Recovery
Last year, Scottish insolvency activity reached its highest level in over a decade.[1] 1,132 firms became insolvent in Scotland highlighting the real impact of the financial strains that many businesses are facing. There are numerous factors that have caused the rise in insolvency cases. Scotland’s businesses are still suffering from a “Covid hangover” and to add […]
Sleigh-What!: Is Santa Owed a Duty of Care?
Over the past few months, Santa and all of his elves have been hard at work at their North Pole workshop organising gifts for all the good boys and girls across the world. However, before Santa gears up for the logistical challenge of delivering presents around the globe in 24-hours we are asking the question […]
Judicial Review & the 2008 Singapore Grand Prix
In Scotland, judicial review is the court process by which a Sheriff or Judge has the power to review a decision of any person or body entrusted with a jurisdiction, a power or any authority – in order to ensure that the person or body does not exceed or abuse their jurisdiction, power or authority, […]
Garden Alterations and Neighbour Disputes – Resolving Conflicts
With it being the height of summer, many homeowners have taken to their back gardens to enjoy the sun. For many people this enjoyment includes a revamp of their open space with the likes of gardening, building sheds, erecting fences or planting trees. Although these activities can be a great summer project, they can also […]