On 8th February 2022 the Leasehold Reform (Ground Rent) Act 2022 (‘the Ground Rent Act’) received Royal Assent. It will come into force on 30th June 2022 and will restrict ground rents in applicable leases to a “peppercorn” (or NIL) ground rent. The Ground Rent Act has major implications for both Landlords and Tenants who are negotiating terms to “voluntary” leases.
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Wallace is delighted to learn that we have been shortlisted in the 2022 Lawyer Awards. Our firm is a finalist in the category ‘Law Firm of The Year - The Independents’
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Wallace has advised the management team of Infrata in relation to the inward investment by mid-market private equity firm, Lonsdale Capital.
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Over the last decade, we have seen an increasing propensity to condemn organisations for having predominantly ‘pale, stale, males’ in positions of seniority. This has partially been driven by the extension of Gender Pay Gap Reporting which has forced many organisations to record and reflect on inequality in the workplace and, hopefully, take steps to rectify this.
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We are delighted to announce that we have been recognised across three industry directories for 2022 in the highly competitive London area, namely The Times’ Best Law Firms, The Legal 500 and Chambers and Partners.
Read MoreAs anticipated, the government has announced a further extension to the forfeiture moratorium to 30 June 2021. The result of this extension is that landlords cannot seek to forfeit a lease for non-payment of sums due until 1 July 2021 at the earliest
Read MoreThe government has announced a further extension to the following measures put in place to protect residential tenants:
Read MoreWe are delighted to announce that Wallace has been selected for inclusion in The Times Best Law Firms 2021 published today.
Read MoreWe are delighted to announce that two of our partners have been ranked in the Chambers & Partners 2021 Directory, in the highly competitive London area.
Read MoreThe Legal 500 United Kingdom 2021 directory has been published and Wallace continues its success being ranked in eight practice areas, across the directory, for the London area.
Read MoreSince March 2020, the Government has introduced a number of temporary measures designed to mitigate the economic impact on businesses of the COVID-19 pandemic.
Read MoreThe COVID-19 pandemic has caused widespread disruption and, with it, uncertainty as to whether businesses are entitled to claim under their business interruption insurance policies.
Read MoreThe legal cannabis market is of increasing interest to entrepreneurs and investors. In recent years, we have seen a trend of growing deregulation in the supply and use of cannabis and cannabinoids globally, and a corresponding change in societal attitudes. The position in the UK echoes the position globally, with the appetite for investing in the legal cannabis sector increasing rapidly. However, investing in the cannabis sector remains a potential legal minefield, especially since the domestic regulatory regime is complex and investors and businesses will also need to be mindful of the extra-territorial reach of the Proceeds of Crime Act (POCA).
Read MoreThe UK left the EU on 31 January 2020 and is currently in a transition period during which EU Nationals can continue to reside and work in the UK. From 31 December 2020 when the transition period ends, the UK immigration rules change.
Read MoreOn 19 June 2020, the Government issued a new voluntary Code of Practice for commercial property. The Code has been developed with leaders from the retail, hospitality and property sectors to provide clarity for businesses when discussing rental payments and to encourage best practice between landlords and tenants so that all parties are supported.
Read MoreAs we fast approach the June quarter when there is likely to be further tenant default on rental payments, landlords should check whether they are entitled to recover any sums due to them from former tenants/their guarantors under the terms of an authorised guarantee agreement. There is a strict process and timescale to bear in mind.
Read MoreSince our last update there have been further changes announced to the Coronavirus Job Retention Scheme (furlough scheme). The changes reflect people returning to work over the coming months and, from August 2020, employers start to share the burden of paying furloughed employees on a staggered basis.
Read MoreThe UK left the EU on 31 January 2020 and, shortly after, the country became preoccupied with coronavirus. The UK is in a transition period until 31 December 2020 during which time it is still largely aligned with the EU. After that, either the UK will have a suitable trade deal or it will move to WTO terms. This focus on more pressing matters means there has not been much progress on negotiating the trade deal.
Read MoreOver seven weeks after the lockdown was announced, the Courts, and lawyers, have adjusted well to working remotely. All hearings are being dealt with remotely, unless an in-person hearing is unavoidable (and for which systems have been put in place to ensure the safety of participants).
Read MoreHaving placed a moratorium on forfeiture (which is currently due to expire on 30 June) the Government has now introduced further measures to protect commercial tenants against enforcement actions being taken by landlords for non-payment of rents.
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