News

David Morgan By David Morgan Partner at Burness Paull

While the UK Commercial property market is showing some signs of a return to a more positive mood post the EU vote, London and Scotland are lagging behind the rest of the UK, according to the Q3 Royal Institute of Chartered Surveyors’ UK Commercial Market Survey 2016.

The UK’s pension holders have cashed-in over £7.6 billion from their savings pots since the British government brought in new retirement freedoms last year.

Scotland had 218 corporate insolvencies in the course of the second quarter of the current financial year, down from the 258 in the previous quarter – a 15.5 per cent drop, according to latest data.

Sian Aitken Sian Aitken and Graeme MacLeod of CMS look at a case confirming the precedence of domestic administration proceedings in a multi-jurisdictional winding-up, marking the first time “modified universalism” has been recognised in Scots law.

(from left) Nina Sutherland, relationship manager Clydesdale Bank; Les Milne, chairman Partick Housing Association; Elaine Reed, head of social housing, Clydesdale Bank and Eamonn Hughes, financial director, Partick Housing Association Clydesdale Bank has provided a £26.5 million funding package to

Edinburgh-based Lloyds Banking Group, the bank worst affected by the PPI mis-selling scandal, has announced today that its has set aside a further £1 billion to pay compensation over the affair.

Jenny Laing Aberdeen City Council could become the first local authority to raise funds on capital markets as it embarks on a number of major housebuilding and construction projects.

Royal Bank of Scotland paid at least £180 million to a consortium made up of private-equity firms and the Church of England in exchange for backing the bailed-out bank’s failed attempt to sell-off 300 of its branches on the stock market it has emerged.

House purchase approval numbers in the UK during September were 15 per cent lower year-on-year, according to latest data from the British Bankers Association.

Glasgow-based Clydesdale Bank has emerged as the latest suitor for the 300 Royal Bank of Scotland branches that the still 73 per cent state-owned lender must sell-off to comply with the EU-imposed conditions of its £45 billion taxpayer bailout in 2008.

Iain McDougall By Iain McDougall, Senior Solicitor at MBM Commercial

Scottish manufacturers have reported a decline in orders during the third quarter of the year.

The Scottish government has called for the formation of a new Scotland-wide statutory board to co-ordinate the activities of Scottish Enterprise and Highlands and Islands Enterprise (HIE).

The Financial Conduct Authority has banned two former Partners of a private investment company over a £50 million fraud which saw client money siphoned off to fund their lavish lifestyles.