The position on this will largely depend upon whether the relevant share option agreements are drafted to be deeds or to be bilateral contracts with consideration. In practice, share options are most often granted by deed in order to make sure that a validly binding contract is made. However, if a deed isn’t used then all the other requirements must be met in order for a binding contract to be made. This includes a need for consideration to paid by the prospective option holder to the grantor of the option in order for the share option to be granted to them. Therefore, typically, if a share option is not being granted by means of a deed then the share option terms will require the employee to make a nominal payment (such as £1) to the company in order for the company to grant the option to them. Bilateral contracts with consideration can be executed

Law360: Health and safety is the top risk for directors and officers worldwide, according to a survey published 20 March 2024, in a 'surprise' result partly attributed to the lingering impact of the coronavirus (COVID-19) pandemic on businesses and increasing mental health considerations.

The Insolvency Service has reported that Adam Lennard, 58, has been sentenced to eight months in prison, suspended for 15 months after falsely applying for a coronavirus Bounce Back Loan (BBL) in 2020. Lennard has also been ordered to repay half of the loan (£10,000) within one week of appearing in court.

The Insolvency Service has announced the ten-year directorship ban on Azizullrahman Akbari, the former director of New Watan Bakery Limited, for exploiting the coronavirus bounce back loan (BBL) scheme. Akbari fraudulently secured the maximum £50,000 loan by significantly exaggerating his company's turnover and entered liquidation in July 2023 with outstanding debts surpassing £53,000.

The European Commission has issued a statement in response to the decisions in Auken and Others v Commission and Courtois and Others v Commission. These cases concern access to the coronavirus (COVID-19) vaccine contracts and related information negotiated by members of the Commission.

The Insolvency Service has announced James Ireri, aged 44, from Surrey, has been banned for seven years, after abusing two different coronavirus (COVID-19) loan schemes amounting to £150,000 and failing to show that the money was used to sustain his business.

The Insolvency Service has published its monthly insolvency statistics for April 2024 on company and individual insolvencies. The data shows that 2,177 company insolvencies were registered, 18% higher than in April 2023 and higher than during the coronavirus (COVID-19) pandemic and between 2014 and 2019. For individuals, the total number of insolvencies in April 2024 was 9,651, 5% higher than in April 2023.

Law360, London: The US-Israel conflict with Iran may give rise to complex commercial disputes in England similar to those following the coronavirus (COVID-19) pandemic and the invasion of Ukraine, according to lawyers reporting increased client demand for advice over the evolving conflict.

Law360: The new Labour government will introduce an 'expanded fraud strategy' as part of plans to reform the criminal justice system's approach to financial crime that include rewarding whistleblowers, cracking down on the enablers of kleptocracy and tackling coronavirus (COVID-19) fraud.

Definitions (General) Competent Authority • any authority having jurisdiction in relation to the Property, its occupation or use; Restricted Period • any period [exceeding [number] [continuous] weeks] during the Term in which a Pandemic Restriction applies; Pandemic Restriction • any Legislation, or any requirement of, or guidance published by, a Competent Authority which: (a) arises

The Insolvency Service has published its monthly insolvency statistics for March 2024 on company and individual insolvencies. The data shows that 1,815 company insolvencies were registered, 17% lower than in March 2023 but higher than during the coronavirus (COVID-19) pandemic and between 2014 and 2019. For individuals, the total number of insolvencies in March 2024 was 8,708, 9% lower than in March 2023.

ARCHIVED: This precedent has been archived and is not maintained. Definitions (General) Competent Authority • any authority having jurisdiction in relation to the Property, its occupation or use; Restricted Period • any period [exceeding [number] [continuous] weeks] during the Term in which a Pandemic Restriction applies; Pandemic Restriction • any Legislation, or any requirement of, or guidance published by, a Competent Authority which: (a) arises out of [COVID-19 or the occurrence of any other OR any] national or local pandemic disease; and (b) prohibits, prevents or restricts the Tenant from [fully] [trading