What can you do if an employee owes you money?

What can You do if an Employee Owes You Money?
An employee can owe their employer money for a number of reasons – for example, if an employee has taken more holiday than they are entitled to, or if they have borrowed money from their employer. Even in cases where an employee has damaged property or stock by carelessness, under the Employment Rights Act 1996 , an employer cannot recover the cost...
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In debt, indebted, or just want to know how to get your money?

In Debt, Indebted, or Just Want to Know How to Get Your Money?
A new Pre-Action Action Protocol for Debt Claims (the Debt Protocol) came into force on 1st October 2017. Subject to certain exceptions, the Protocol applies to any business, including sole traders and public bodies, claiming payment of a debt from an individual (including a sole trader).The Protocol does not apply though to business-to-business de...
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Commercial Litigation FAQs - The Basics

Commercial Litigation FAQs - The Basics
Commercial litigation is considered to be a broad area of law, encompassing many types of disputes that relate to businesses and the issues that can arise within them. We run through the most frequently asked questions relating to commercial litigation, and when exactly to instruct expert legal support. Commercial litigation is an ever-expanding fi...
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Construction giant goes into liquidation

Carillion
Construction company Carillion has gone into compulsory liquidation, potentially putting over 40,000 jobs at risk.

The company got into trouble after losing money on big contracts and running up huge debts. According to Vicky Ford, MP for Chelmsford, there had been low confidence in the company for months since its failure to deliver in respect of its contracts for Chelmsford prison.

Carillion is involved in major projects such as the HS2 high-speed rail line, as well as managing schools and prisons. It employs some 43,000 people across all its worldwide operations. The conglomerate also employs thousands of smaller firms, who will be keen to know how they’ll be affected by its collapse. Some of Carillion's contracts will be taken on by other firms, whilst others could be taken back into the public sector.

Those that are employed by Carillion will inevitably be seeking employment advice in the wake of an announcement that, in the short term, they should continue going to work. Their rights and obligations will no doubt need clarification, however, a high number of redundancies is expected.

Thousands of staff have money in Carillion pension funds, which have a reported deficit of almost £600m. Those funds will now be managed by the Pension Protection Fund (PPF), who said that liquidation "raises serious concerns for all people involved".

Sub-contractors, suppliers, those with the benefit of guarantees and indemnities and the company’s creditors may also be feeling very nervous. What will happen to claims for payments under certificates, payment obligations under JCT contracts and will guarantees given by the company yield anything?   

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A more efficient way of recovering debts?

Debt-Recovery-1
On 1 October 2017, a new Pre-Action Protocol for Debt Claims came into force.
 

The Protocol sets out criteria which a creditor must follow prior to issuing a claim. It applies to any business claiming payment of a debt from an individual (including a sole trader) but is not applicable to business-to-business debts unless the debtor is a sole trader.

The Protocol aims to encourage early engagement and enable the parties to resolve the matter without the need for court proceedings.

 

steps to be taken by the Creditor

A Letter of Claim must be sent to the debtor. It should include the information specified in the Protocol, for example:

  • the amount of the debt;
  • whether interest or other charges are continuing;
  • details of the agreement which the debt arises from;
  • details of how the debt can be repaid

The Letter should enclose:

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Sponsors of the HCCI Business Showcase

business-showcase
Havering Chamber of Commerce & Industry will host a Business Showcase on Monday 9th October at Queens Theatre Hornchurch, and Pinney Talfourd are sponsoring the event.


Havering businesses, small and large, will be attending a Business Showcase and Networking Exhibition in October, organisd by HCCI in association with Queens Theatre, Hornchurch.

Date: Monday 9th October 2017

Time: 6.30pm - 9.30pm

Venue:  Queen's Theatre, Billet Lane, Hornchurch, RM11 1QT

HCCI's mission is to promote a positive, balanced, vital economy and preserve those unique qualities that are good for business and make Havering a very special place in which to live and work.  With a full house of business exhibitors, the event will be opened by the Mayor of Havering and will include:

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