Covid-19 continues to have a profound effect on businesses of all kinds.
This is most visible in the High Street where, at the top end of the market, the collapse of Debenhams and Arcadia have recently hit the headlines. However, small retailers are also having to examine their viability going forward, and at both a local and national level, it is not just the high street being affected.
Nonetheless, where there are losers there will also be winners which is why, for many small businesses, the pandemic is providing a wealth of opportunities, and bargains are, undoubtedly, available for those businesses that are successfully weathering the storm. With businesses also needing to reorganise to meet changing demands and rapidly changing trading landscapes, there are also opportunities for businesses to merge in order to save overheads and also to capitalise on new opportunities.
However, intercompany transactions are one of the more challenging areas of expertise for solicitors as they not only have to deal with contracts that can be voluminously large because of the need for various representations, warranties, conditions and guarantees, but they also require legal multi-tasking. For example, inter company transactions will involve Employment Law if employees are a factor, as there will be ongoing obligations for any purchaser. Similarly, whether leasehold or freehold, if property forms part of an inter-company transaction, then Property Law expertise will also be required.
Fortunately, TM Law uses a team approach to any company sale, purchase or merger transaction which brings together expertise in all areas of law that are likely to be touched upon. As we also appreciate how complex and time consuming some transactions can be, we are happy to have an initial, free, discussions with clients in order to understand what they want to achieve, explain what it is likely to entail and provide them with a clear understanding of their options and how TM law can help them achieve their objectives. The TM Law team becomes part of their team working with them through to the transaction’s completion.
In the same way that no two businesses are the same, no two business transactions are the same. Fortunately, in TM Law, local businesses have an experienced legal advisor who can help them every step of the way.
TM Law Ltd is a member of the Solicitors Regulation Authority, the regulatory body for solicitors in England and Wales.