An evening with Kevin Keegan - The Dunelm Foundation Historic multi-million-pound development - Swinburne Maddison
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November
2019
News and views from
An evening with
Kevin Keegan
The Dunelm Foundation
Historic
multi-million-pound
development
Simon Robinson’s major role
Life at Atom Bank
An interview with Laura Farnworth
Contents Welcome to
03 08 - 09 16 -17 21 Welcome to the second instalment of Prism, Swinburne Maddison’s very own publication bringing
you the latest news and insights from our team, clients and the local community.
Welcome Further growth Joint Ventures: When Wills
Partner and Head of at Swinburne Getting the become complex Over the summer months we have been extremely busy For our final headline fundraising activity this year, we will be
working on some of the region’s key deals and projects, collecting donations for The Trussell Trust – Durham Foodbank
the Dispute Resolution Maddison right deal Find out why every
including the historic multi-million-pound development of and for our Changing Lives – Reverse Advent Calendar
department, Jonathan Will is different.
Moreland, introduces us to Partner’s retirement leads to Martyn Tennant explains Lambton Estate, and helping our private clients with the matters campaign, full details of which can be found on the News
the latest news and insights. two new appointments. Joint Ventures and how
closest to their hearts. section of our website.
22 - 23
to know if this is the right
option for you. In May we said farewell to founding Partner of the firm, It is at this point when I would usually take a moment to look
04 - 05 10 -11 Durham Philip Robson as he embarks on his well-earned retirement, forward to the coming year and offer a glimpse of what news
golfing from dawn ‘til dusk and spending time with his family. and features we might be covering in our next issue. Yet, with
Ask the Expert Simon’s 18 -19 transformed into Philip’s departure led to the recruitment of residential property the uncertainty of a festive general election ahead of us, I think
Major Role a glittering gallery
Victoria Walton explains some Striking the solicitor Andrew Allon and the promotion of Ashley Garthwaite I’ll hold off on any predictions and simply sign off by wishing all
of the costly pitfalls of leasing Muli-million-pound without walls as she commences her training contract with the firm. of our staff, clients and friends a very Merry Christmas and a
commercial premises. development of historic right balance Happy New Year.
Lumiere celebrates it’s
Lambton Estate. Head of Legal at Atom Bank, In addition to these exciting changes within our residential
10th anniversary.
Laura Farnworth, takes us property team, we are very pleased to announce six further
06 through what it’s like to work well-deserved promotions across the firm and the recruitment
Partner joins 12-13 for the UK’s most trusted
bank.
of family solicitor, Natalia Lalas, highlighting our continued
commitment to staff development and recruitment as well
County Durham We are a firm as our drive to offer clients a broader range of specialist
Growth Fund that cares… legal services. Jonathan Moreland,
Panel Find out more about 20 As a firm we are incredibly proud of the close client
Partner and Head of
the Dispute Resolution
We are pleased to announce
our CSR initiatives. Inheritance tax relationships that we have developed over the years, one such and Employment teams
that Jonathan Moreland payments hit example being the relationship we share with our neighbours,
has joined the panel of the
County Durham Growth
14 -15 new record high. Atom Bank plc. We talk to Laura Farnworth, Head of Legal at
the digital banking giant who reflects upon the rapid growth of
Fund. An Evening with There was a 3.1% increase
in HMRC’s annual receipts
the bank since its launch in 2014.
Kevin Keegan in 2018/19 but are some of With the festive season approaching, we celebrate one of
07 The first annual sportspersons
dinner for the Dunelm
these payments preventable? Durham City’s most anticipated winter spectacles: the majestic
Lumiere festival. Celebrating it’s 10th anniversary this year, the
Three Questions Foundation. festival took place across the City on 14th – 19th November
David Low shares what 2019 and we share some of the highlights in our feature on
led him to specialise in pages 22 and 23 of this issue.
Litigation work.
Finally, we recount the firm’s recent charitable activity, including
support at the Durham City Run, pro-bono work for the
Dunelm Foundation (and meeting football legend, Kevin Keegan
at the charity’s first sportsperson’s dinner!) and tackling the
world-famous Great North Run on behalf of St Cuthbert’s
Hospice.
2 swinburnemaddison.co.uk swinburnemaddison.co.uk 3
Leasing ength of Term /
commercial
2 Repairing Obligations 4 L
Repairing obligations are notorious for catching people out Break Clauses
premises
and many tenants are shocked to learn that their liability
Deciding how long to commit to a lease is a big decision for a
is far greater than they realised. I cannot stress enough
tenant, particularly in today’s uncertain market. In order to try
how important it is to check the specific wording of the
and minimise the financial risk associated with a longer term, a
lease and make sure that you know exactly what you are
tenant may wish to request a break clause; something which,
responsible for.
5 costly pitfalls and
if exercised, would allow the tenant to terminate the lease
before the end of the agreed term.
If left unchallenged, there is a real risk that the terms of the
how to avoid them lease will not only require a tenant to keep the premises in
good repair but actually require them to put the property
However, please remember that tenants are required to pay
SDLT based on the full length of the term (irrespective of any
By Victoria Walton into good repair, even if it wasn’t in good repair when the
break date in the lease) and are not entitled to any refund from
lease was entered into.
HMRC in the event that the lease is brought to an end sooner.
There are measures available to protect your position if
you obtain proper legal advice as early as possible.
During my 20-year career as a commercial
property lawyer, I have been contacted by a lot 5 Alienation
of business owners in need of urgent legal advice Not as exotic as it sounds, alienation is a term used to describe
because they are trapped in a lease they cannot 3 Service Charges the process by which a tenant passes the lease on to another
afford or have received a demand for unforeseen As with repairing obligations, tenants often do not understand
party. Many people believe that a tenant can sell on its lease
whenever it wants to but that is not necessarily the case.
costs from their landlord. the extent of their service charge liability. Even if a tenant is
leasing a small part of a building, they could be responsible for
In the event of a sale, it is likely that the landlord will require
Experience has shown me that there are 5 areas in particular which can contributions towards extensive structural repairs.
the tenant to enter into an Authorised Guarantee Agreement
catch a tenant out. By understanding a bit more about these potential
(AGA). An AGA will usually require the original tenant to
pitfalls before you begin negotiating terms for a commercial lease, I would advise that a tenant should always:-
guarantee the performance of the ingoing tenant, meaning that
I am confident you will be able to make significant savings for your
r equest a copy of the last 3 years’ service charge they could be required to make future payments if the ingoing
business or at the very least ensure that you have a full picture of
accounts to see what has been charged in the past; tenant fails to perform any of the obligations under the lease.
potential costs going forward for budgeting and cash flow purposes.
In some circumstances the original tenant can actually be
enquire whether there is a sinking fund available; required to take the lease back on.
1 Rent fi nd out whether the landlord is aware of any
items likely to require significant expenditure in
There are a number of things to keep in mind when reviewing the next 3 years;
Please note that this is not an exhaustive
the rent provisions of a lease:-
consider asking for a cap on the service charge. list of the potential risks facing a tenant
frequency of payments (likely to be quarterly in advance but of commercial premises. Early discussion
monthly/weekly payments may be preferable for cashflow);
with professional advisors, including your
whether or not there is a rent-free/reduced rent period lawyer, will help to make sure you identify
(particularly if works are needed to the property when you go in); any potential issues from the start and
whether or not the rent is to be reviewed that measures are put in place to protect
(and, if it is, when, and how? Are you satisfied that you and your business for the duration of
the review mechanism works?)
the lease and beyond.
These are all terms which the landlord may be prepared to negotiate
on, even if he does not advertise the fact at the outset.
4 swinburnemaddison.co.uk swinburnemaddison.co.uk 5
YO IN
U CA
MI SE
SS
Three
ED
Partner joins County Durham IT
Growth Fund Panel
We are pleased to announce that Partner, Jonathan Moreland,
has joined the panel of the County Durham Growth Fund.
The County Durham Growth Fund is a £4.9 million grant scheme funded by the European Regional
Questions
David Low, Partner, Dispute Resolution team
Development Fund (ERDF), designed to provide grant support to SME’s in County Durham for capital
investment projects with the aim of creating quality jobs in the private sector.
The three-year programme, managed
by Umi in partnership with Business
Durham, runs from 1st April 2019 to
31st March 2022, whereby applicants
Jonathan commented,
“ I am delighted to have been given
the opportunity to join the County
Jonathan explained,
“ mi do a fantastic job in working
U
with the applicants to prepare
1 Where did you study law and why
did you want to become a lawyer? 3 What has been your greatest
achievement at Swinburne Maddison?
Durham Growth Fund Panel. the high calibre of applications we
can apply for up to 40% of the value I completed my undergraduate Law degree at the University I could name a number of specific cases where we have
This fund is a great opportunity for receive. They ensure transparency
of a specific project. The final date of Leeds and then my Legal Practice Course in York. managed to achieve some fantastic results for our clients,
businesses already based within when mapping out the process as
for projects to be completed is 31st I was very keen to have the full “University experience” but in all honesty my greatest achievement has been my
the County Durham area and for to how the investment will help to
December 2021 and jobs must be in and move away from my home city of Aberdeen after progression through the firm and achieving Partnership at
those wishing to expand into the achieve future employment.
place by 31st December 2022 in order finishing my schooling. I am the first lawyer in my family the age of 29. This has been down to all the Partners in the
area to invest in their organisation
to receive the grant. The panel is required to consider set (so far as I am aware) and so my choice of degree was very firm (past and present) and the amazing people I work with.
and improve prospects for the next
criteria against each application and then much led by school careers advisors who seemed keen to The whole firm has really encouraged and supported me
Jonathan, Partner at Swinburne generation.
decide whether to approve (with or direct me into either medicine or law; at that time I had a bit to achieve my goals and develop a caseload which I enjoy;
Maddison LLP, joins the investment
The panel is comprised of without conditions), decline or defer the of a phobia of blood so there was only really one choice! it is busy and challenging but making a positive difference is
panel which consists of up to 12 voting
professionals across varying sectors, said application. The set criteria includes
members, across varying sectors, and It wasn’t until I started my degree that I realised how much hugely rewarding.
so we are able to combine our the following considerations:-
draws representation from the local I enjoyed law and started really looking into the subject from
individual skills and experiences and
business community. Jonathan heads up Is the project viable for the business? a career perspective.
apply our own professional litmus
the Employment and Dispute Resolution
tests when deciding whether or not What is the minimum grant necessary
2
teams at the firm, acting for business
a particular investment is viable for for the project to complete? Why did you want to specialise in
owners across the region, and brings the
both the fund and for Litigation work?
benefit of his extensive experience to his Can the applicant demonstrate that
the business.
new role. the investment will result in a net
In the first three months of the increase of jobs?
When I applied for a training contract with the firm in 2007
fund being launched the panel has Will the grant negatively impact other I really wasn’t sure what area of law I wanted to practice.
provisionally granted around £2m across County Durham businesses? That year the firm was looking to take on two trainee
ten businesses, in different sectors,
Does the application fit into the solicitors and at interview I was asked whether I would
leading to the creation of 200 jobs in the
portfolio of other invested businesses? be interested in starting in litigation or in non-contentious
County Durham area.
property. I was caught a little off guard by the question
If you are a business in the County
as I didn’t really know but I decided in that moment
Durham area, looking to invest in a
that litigation would probably suit my skill set and I was
capital project and can demonstrate
very keen on experiencing Court work first hand. It was
that it will result in future employment,
definitely the best decision I ever made as now I cannot
you may be eligible to apply for County
imagine doing anything else!
Durham Growth Fund.
For more information on the fund
and the criteria, please visit
countydurhamgrowthfund.co.uk
6 swinburnemaddison.co.uk swinburnemaddison.co.uk 7
Further growth at Expansion in the family team
We were also very excited to welcome
Associate promotions
across the firm
Swinburne Maddison
a highly experienced lawyer and In addition to the wealth of talent which
Deputy District Judge to our Family team. Swinburne Maddison has recruited from
Natalia Lalas, who was appointed as a Deputy District Judge elsewhere in the region this year, we are also
in March this year, has Higher Rights of Audience, which allow very proud to announce the promotion of
her to represent clients in all courts. She was also the first 6 new associates across the firm.
solicitor in the Teesside area to qualify as a collaborative lawyer.
Partner’s retirement leads to two new appointments She has lectured on the law relating to financial cases following These promotions recognise the experience and dedication
divorce and acts as a specialist family solicitor for Durham Police which each of these individuals bring to their respective teams
The recent retirement of one of the founding partners of Swinburne Maddison, Philip Robson, Federation, representing police officers and employees across a and their ongoing commitment to the growth and success of
initiated some changes within the residential property team this year, as the firm strengthens its wide range of issues. Swinburne Maddison as a whole.
position in a competitive market. She joins Swinburne Maddison as an associate solicitor and will Huge congratulations to Helen Griffiths, Jennifer Purvis,
work with clients seeking advice on divorce, financial matters, Sharney Randhawa, Nadine Walton, Mike Ward and
As one of County Durham’s leading law firms, we have Ashley joined Swinburne Maddison as a secretary in the
children, cohabitees and surrogacy. Abigail Zuk.
continued to experience steady expansion in recent years and residential department to gain practical experience. However,
this is no less true within our residential team, which newly with a law degree and an LPC qualification already under her Joining a well-established department within the firm, she will
Swinburne Maddison currently employs
appointed solicitor, Andrew Allon, has joined. belt, it wasn’t long before she was promoted to paralegal, complement the skills of the existing team and create strength in
56 staff and partners.
assisting Philip Robson and his team. She said: depth within the department, helping to further consolidate the
Qualifying in 2011, Andrew has over eight years of experience
firm’s prominent position in the marketplace.
“
dealing with a diverse range of property matters, including
Working at Swinburne Maddison has opened my eyes
professional negligence claims and housing issues. For the to the different opportunities available and being able to Excited to develop the role, Natalia said:
last three years, Andrew has concentrated predominantly on work alongside great colleagues too, there is nowhere
residential Conveyancing. This experience has enabled him to
take on Philip Robson’s case load together with looking after
else I would rather be. I am so grateful I applied for a
training contract and for the opportunity I now have and
“ S winburne Maddison is an award-winning law firm which
already has an outstanding reputation for its work across all
new residential clients and their property transactions. look forward to learning from the best. Since joining service lines and I am delighted to have the opportunity to
Swinburne Maddison, my career has gone from strength become part of its highly talented team.
As Andrew’s previous role was with a specialist online
to strength.
firm, which meant that most legal work was done over the T
his is a superb opportunity to build on my experience and
telephone or email, he is looking forward to building to enhance the range of legal support already on offer at Helen Griffiths Jennifer Purvis
relationships face to face, as he explains: the firm within the family department.
“ I am really looking forward to the
opportunity I have been given to work
for Swinburne Maddison. I am eager to
grow the department and pleased to be
able to build client relationships one to
one. The firm has a great reputation and
the residential department is very busy,
providing the opportunity for career Sharney Randhawa Nadine Walton
progression too in the future.
An internal promotion has led to the
creation of a second role within the
residential team, this time for a trainee
solicitor. Ashley Garthwaite, who
joined Swinburne Maddison in 2016,
exemplifies the firm’s commitment to
training and recruitment from within.
Mike Ward Abigail Zuk
8 swinburnemaddison.co.uk swinburnemaddison.co.uk 9Simon’s major role on
The overall project was granted planning permission by Theakston director, Chris Harrison, appreciates Simon’s
Durham County Council for new homes, offices, retail and wide-ranging expertise and diligence. He said:
community space in 2016 as part of the Estate’s strategy to
historic multi-million-pound develop and sell an area of land for high quality, environmentally
friendly housing with some commercial and retail use with an
development scheme
emphasis on creating a community feel. After many years of hard work covering
As Simon, explains, the first phase under construction is planning, architectural, commercial
extremely important because homes built here must reflect and legal issues it’s great to see diggers
the development team’s ambitious aspirations for the site, on site and the first phase being
demonstrating both the heritage of the estate and the highest
implemented.
levels of quality and aesthetic appeal, because they set the tone
Building on a relationship spanning several years, Partner, Simon Robinson, for future phases. He said:
is pleased to see the multi-million-pound development of Lambton Estate, At all stages of the project Simon has
near Bournmoor, Chester-le-Street, now finally underway. provided commercially astute legal
advice, ensuring a robust contractual
Described as one of County Durham’s ‘hidden gems’ which at Peterlee and Durham; further sites in Yarm, a site in It is satisfying to see construction work framework, within which the
had fallen into decline, the planning consent obtained for the Eaglescliffe, a collaboration with Darlington Borough now getting underway. I worked on development is now being delivered.
development of part of the Lambton Estate some three years Council in respect of the development of around 4,500 this project before I joined Swinburne It’s a testament to Simon’s hard work
ago will see the renovation of the Grade II listed Lambton houses for the north of Darlington and land at Sniperley,
Maddison, acting as legal adviser to and tenacity that, despite three sets of
Castle, architect Ignatius Bonomi’s Lamb Bridge and castle Co Durham.
Theakston at the time the option to solicitors being involved, the transaction
stables and the construction of many new homes together with
For the moment, Simon can catch his breath a little, while purchase certain areas of land was
associated commercial and retail development. moved swiftly and smoothly with all
construction work progresses with development partner
taken up. My instruction in this matter parties being focused on completing
Over the last few years, Simon has played a major role in Miller Homes, who bid for and secured the first site to come to
followed me to my new role and I have the deal.
assembling the site for sale, acting on behalf of client, Theakston market, at the eastern entrance to Lambton Park. Miller Homes
Estate Company Limited (Theakston) alongside the Trustees of will build 106 three, four and five-bedroom bespoke homes since negotiated several supplemental
Lambton Estate. designed by Ben Pentreath and refined by POD architecture, agreements and a Section 106 planning Simon continues to advise on future
along with one, two and three-bedroom apartments. agreement. phases of the Lambton Park project
It is the latest in a long succession of instructions involving
Simon and Swinburne Maddison for Theakston. alongside other development proposals
Others include the sale of a site in Yarm to Barratt and It has been necessary to work very Theakston is involved with and is
Bellway comprising around 300 units as well as other closely with the Trustees of the Lambton recognised as a leading solicitor in the
developments that these parties are involved with Estate’s solicitors, Withers Worldwide property sector. Over the years he has
LLP in London, together with the handled many complex transactions on
solicitors for Miller Homes Limited and our behalf and is a valued member of
GSC Grays, the managing agent acting the team.
on behalf of Lambton Estate. Since all
documentation had to be approved at
Following on from the residential development will be the
every stage and by all parties, this was
construction of a community hub, offering opportunities for
both a complex and challenging process. local business to take up space and providing amenities for the
The overriding aim was to keep the residents and workers at Lambton Park.
transaction on track, so my longstanding
The revenue streams created from the development will be
relationship with Theakston and my used to restore the heritage assets of Lambton Estate and
knowledge of the various projects has open up around 15km of previously private pathways within
been particularly helpful. this superb parkland setting for the benefit of members of the
public, businesses and house buyers.
(L to R): Simon Robinson of Swinburne Maddison and Chris Harrison of Theakston review progress where construction work is well underway at the Eastern entrance to Lambton Park.
10 swinburnemaddison.co.uk swinburnemaddison.co.uk 11We are a firm
St Cuthbert’s Fundraising
We have been a longstanding supporter of
St Cuthbert’s Hospice, raising awareness and, crucially,
that cares…
funds in order for them to continue their vital work
providing palliative care for individuals suffering with cancer
and support for their families.
At a time when charities are facing a range of financial and
other challenges, it is more important than ever for us to
be a socially responsible business and to give something
back. We simply couldn’t do this without the support and
enthusiasm of our fantastic team who, year on year, come
We are incredibly proud of where we’re from together to raise money in innovative ways, whether this
and to be part of the community around us. be through office “bake-offs” or charity pamper evenings in
collaboration with students from the local collage.
As a result, Swinburne Maddison is firmly committed to contributing to the progress, development
This year, Associate Solicitor, Abigail Zuk, and Trainee Solicitor,
and wellbeing of the North East’s businesses, organisations and communities. We do this, not only Rory Ogden, took part in the Great North Run, raising over
through the legal advice and services we provide, but also by offering sponsorship, supporting events £700.00 for St Cuthbert’s. Phenomenal effort guys!
and encouraging the individual efforts of our dedicated colleagues.
We were also very proud to see our Managing Partner,
Here are some of the ways we have been helping to make a difference lately. John Davison, appointed to the charity’s board of
trustees in the summer of 2018 and, more recently, to its
governance committee.
Making a splash at
the Durham City Run
On the hottest day of the year, we rallied
Christmas Food Appeal
together a group of volunteers from our For the majority of us, the thought of going hungry at any time
team to assist with the Durham City Run. of year, not least over Christmas, is unimaginable. And yet
December continues to be one of the busiest months for food
The annual event, which gives runners the banks. This is why we are calling on our team and clients to
choice of a 5k or 10k route, is one of the support us with our 2019 Christmas Food Appeal.
more scenic courses the region has to offer,
starting at the ancient Market Place then Each year we donate food, toiletries and Christmas
weaving through the historic buildings and treats to our local Trussell Trust food bank in Durham which
along the scenic riverside before finishing provides nutritionally-balanced emergency food and supplies to
up at Palace Green, on the doorstep of families and vulnerable individuals in the Count Durham area.
Durham Cathedral. This year we will be expanding our efforts to include a reverse
advent calendar campaign on behalf of Changing Lives.
Not only did some of our solicitors take
part in the races, raising money for charity, We began collecting items for the Changing Lives appeal on
we were also very proud to sponsor 4th November and will be continuing to accept donations until
the first water station, providing much- Monday 2nd December, at which time our Christmas Food
needed hydration (and hearty cheerleading) Appeal drop off point will open. Any donations for either cause
to thousands of very hot runners! would be very gratefully received.
Hats off to everyone who took part – For more information, please visit the News section of our
we think you’re all amazing. website or contact Lauren Rutherford on 0191 384 2441.
12 swinburnemaddison.co.uk swinburnemaddison.co.uk 13An evening with
Kevin Keegan
Reflecting on the evening, Chairperson, Dale Lever said:
“ I would like to thank everyone who attended
the evening and for their generosity. £25,000
is an astonishing amount to raise, especially
for our first event as the Dunelm Foundation.
Friday 4th October 2019 saw The event would not be possible without our
the first annual sportspersons dedicated committee members and support
dinner for the newly formed from our sponsors.
About the Foundation
Dunelm Foundation which
Swinburne Maddison LLP were delighted to sponsor the evening,
raised an astounding £25,000.00 along with Helios Real Estate, St James Place Wealth Management
It would be remiss of us to talk about the
for local charities and an Dunelm Foundation without first mentioning
and Baldwins Accountants.
it’s predecessor, the Barnardo’s committee,
oversees project.
Kath Hill, secretary of the foundation and Head of the which was formed over 25 years ago under
Family team at Swinburne Maddison said:
The inaugural event held at Ramside Hall the guidance of Keith Johnson, to raise vital
Hotel and Spa was opened by compere for the funds for the Barnardo’s children’s charity.
evening, Phil Hourigan, as he welcomed guests
to the stunning ballroom and invited everyone
“ The new foundation still has the same ethos
that we adopted when previously fundraising
During that period, Keith and the other
dedicated committee members, including
to dig deep for the important causes which the for Barnardo’s, only now we are now able to
Foundation supports. our very own Kath Hill, raised almost
support projects closer to home which are in
£400,000.00 for the charity through the
Star guest and North East football legend, Kevin Keegan OBE,
need of vital funds.
success of their annual sportsperson’s dinner.
entertained guests with anecdotes from his playing career,
including an impeccable retelling of his first encounter with We were overjoyed to kickstart the
In May 2019, after 25 years of dedicated
Peter Beardsley and a story about an unfortunate fundraising with such an incredible total
misunderstanding on his debut for Liverpool F.C., which saw service to the cause, Keith stepped down
from our first sportsperson’s dinner.
him refused entry to the players car park and asked to park from his role as Chairperson of the
across the road with the fans. Kevin also spoke of how football Thank you to everyone who came along
Barnardo’s committee and, with the help
has changed over the years and his hopes for the future. to show their support and who gave so
of Partner, Alex Wilby, who undertook the
generously on the evening.
The generosity in the room was wonderful to see as work on a pro bono basis, the Dunelm
Keith Johnson once again took his place on stage to auction Foundation was incorporated.
prizes including spa days, private cinema screenings, dinners
and the iconic Hartlepool Football, which was signed by
It was agreed that the new not-for-profit
Kevin Keegan. The highlight of the bidding came when
Kevin himself won two tickets to see Manchester City organisation, which welcomed some
play Newcastle United at Emirates, then he immediately new faces alongside many of the original
offered one of these tickets back up for auction for a guest
Barnardo’s committee members, would
to accompany him. This resulted in the total Lot going for
a staggering £3,500.00! continue to host the annual sportsperson
dinners, with a new focus; to fundraise for a
The evening concluded with entertainment from range of local charities and projects, plus one
comedian and impressionist Kevin Connelly.
oversees project.
Photos by: Elwood Photography
14 swinburnemaddison.co.uk swinburnemaddison.co.uk 15Joint Ventures: Joint ventures are typically utilised as part of strategic planning
and in particular to share risk and cost between the joint
venture parties. This is of particular importance if the parties
A written agreement is essential
However a joint venture is structured, it is vital that the terms
getting the right deal
of the deal are recorded in writing. This is to ensure that both
are progressing with a concept that is new to both or either
parties understand not only what is required of them in terms
of them. In addition, the bringing together of resources will
of funding and day-to-day operation but also what will happen if
often result in improved efficiency and effectiveness due to
things go well or go badly.
increased capacity, improved expertise and shared insights.
Martyn Tennant Planning your joint venture
Any agreement should, as a minimum, address:
Nevertheless, because embarking on a joint venture can Objectives and purpose
require significant reconstruction of your business, careful
planning is needed, however favourable it may appear to Obligations of the parties
At its simplest, a joint venture your potential for growth. The joint venture must fit into your
overall business strategy.
Day-to-day decision making
does what the name describes: By reviewing your business strategy before committing
Funding
two (or, sometimes, more) to a joint venture, it will be easier to define what you can
realistically expect. In fact, you might decide there are better
Business plan
parties get together to act
Access to financial information
ways to achieve your business aims.
Non-compete provisions
jointly in business. Another factor, often overlooked, concerns competition law.
There is a common misconception that competition and Contribution of any intellectual property rights
anti-trust law will apply only to the largest of joint ventures. (including branding)
There are a number of ways in which parties can
This is not the case. If the impact of the joint venture has Distribution of income
cooperate. Most commonly a special purpose vehicle
a bearing on consumer choice, even if limited to a specific
(company or limited liability partnership) is used for Any time limits and exit planning
geography, this will be an important consideration requiring
the venture. However, joint ventures can also be
clear advice.
implemented by formal partnerships or under simple Deadlock in 50:50 joint ventures and protection
contracts. If you decide to proceed, you will need professional advice to of minority interest in others
ensure your exposure to failure can be limited by use of the Restrictions around the disposal of any interest in
The approach chosen will depend on the nature of the
right structure, clear documentation setting out the rights and the joint venture
venture, the parties’ respective approaches to risk and,
obligations of the joint venture parties and the right funding
often, tax considerations. Governing law and jurisdiction
arrangements. Issues to be addressed include:
Why enter into a joint venture? Structure – what vehicle should be
Joint ventures can be a useful way of delivering a particular utilised for the project?
How we can help
project or business venture, but there are many issues to
Purpose – do both parties have the Swinburne Maddison LLP have a vast amount of
consider upfront to ensure that the arrangement is workable
same objectives? expertise in dealing with joint venture projects of
from both parties’ perspective.
Contributions – will these be balanced or will the varying scale and degrees of complexity, including
Common drivers for joint ventures include: funder be the senior joint venture party? those with cross-border implications.
Planning ahead is the key to success and working to an
C
hanges in political and economic conditions such Culture – do both parties share a business culture
agreed framework and understood position can be key
as deregulation and technological developments. or does this need to be addressed to avoid
to a positive outcome.
difficulty once the project has commenced?
E
stablishing non-core businesses. We work with your other advisors to ensure that any
ispute Resolution – in any joint venture, points of
D project has the best chance of success.
E
xploiting new geographical markets.
difference will arise; clear lines of communication
E
ntering new market sectors. and escalating resolution procedures can assist
with smooth progress.
16 swinburnemaddison.co.uk swinburnemaddison.co.uk 17Striking the
Unsurprisingly, Laura’s typical working day is far from
predictable. She continues:
Ten fast facts about Atom bank
Since its creation in April 2014, Atom has:
“
right balance
I get up at 7am each morning and play with Isla
before I go to work - which is essential - and I’m in 1
Raised just over £450m of equity capital through the
support of private and institutional investors
the office for 8.15am. Days are a relentless flurry of
meetings, queries, interactions with people in the
business and in the café - which is my responsibility
2
Taken £1.8bn in deposits so far in its
Fixed Saver accounts
- a key feature of Laura’s life wearing my ‘facilities’ hat - and involvement in a host
of other matters.
3
Loaned over £2.4bn to date on Digital Mortgages
You might expect someone who is Head of Legal in what has been voted ‘the most
We operate a lean legal team, including Fiona Gibbon
4 giving
W elcomed will.i.am as a Strategic Board Adviser,
trusted UK bank’ on Trustpilot, to be a serious, reserved person. Think again. If applied to an external perspective on culture, community
Laura Farnworth, Head of Legal at Atom bank, it could not be further from the truth. (who replaced me while I was on my maternity leave and technology
and did such a brilliant job, we kept her on) and
5 cquired an industry leading NPS score of +74
A
If she runs out of things to do, that’s when she’s at her most
dangerous, according to those who know her well. So, it “ I don’t like labels such as ‘challenger bank’ which is
often used to describe us, but if pushed, I would
Ryan Brittain, who juggles a demanding role with his
professional qualification to become a solicitor. 6 oneenTrustpilot
B ranked the UK’s most trusted bank
is probably fortunate that she is not only endowed with an
probably say: ‘We are Atom – aiming to be a full
My life at Atom has been a roller coaster of late
astonishing capacity for hard work and good humour, but
additionally, that her job spec at Atom bank - which also includes
service, customer-centric bank - with you through
nights, weekends, good times, scary times, but a lot 7 Been awarded a Reevoo rating of 98%
every stage of life’ … but we’re not finished yet! (customers who would recommend Atom bank)
responsibility for procurement and facilities - keeps her more of fun and a tremendous, life-changing experience.
than occupied.
We are doing things here, like working on very Some amazing people work here - there’s such a 8
Announced the Atom Incubator to support
North East start-ups at its HQ in Durham
complicated securitisation transactions, that you huge talent pool - it would be hard to find a bunch
One of the early starters who found themselves responsible for
launching the bank, she arrived five years ago on a six-month
secondment from a Quayside law firm, where she was a
wouldn’t normally see outside of London.
This place allows you to grow as a person as well
of colleagues like this anywhere else.
9
Been named in the Chronicle’s top 50 best places to
work in the North East and listed in the top 20
It’s certainly a position of responsibility, being Head
banking lawyer. She says: as modelling you as a professional; the pace is
of Legal, but it’s an exciting challenge grasped with 10
Featured in London Stock Exchange’s 1000
“
incessant, but if you’re happy to jump on the train, Companies to Inspire Britain 2019
From the outset, I was involved in a wide range of both hands. Raising capital and launching new
it’s an amazing experience.
exciting tasks, - raising seed capital, regulatory work, products - it’s simply the greatest feeling. One of the
drafting NDAs - and a raft of other legal necessities - There are great opportunities for those who have done proudest aspects of my career to date is looking at
the bare bones required of a start-up. I loved every just that. Happily, the bank is committed to Durham and its where we are now, where we’ve come from and
minute of it. proximity to three good universities - one of the key reasons where we’re going.
for its choice of location. It is also a keen investor in the regional
Before I had come to the end of my six-month economy, working with local companies whenever possible. Swinburne Maddison continues to enjoy a successful
secondment, I realised I was becoming emotionally Whilst it has a small, additional office in London providing a professional relationship with Atom bank, having
home for members of the Atom Treasury team, most of the completed its first instruction for the bank in
invested in the bank’s future and it was only when
bank’s 360 staff work at Aykley Heads. December 2016 after appointment to Atom bank’s
one of my colleagues exclaimed “Laura, you’ve gone
Commercial Lending Legal Panel the same year.
native” that I realised indeed I had, which required a The rapid growth of the bank from its launch in 2014 closely
conversation with Mark Mullen (CEO) and Edward mirrors the pace of change in Laura’s personal life - she became *Banco Bilbao Vizcaya Argentaria
Twiddy (Chief Customer Officer), about my future. engaged a month after the first £45m BBVA* investment
completed in November 2015, got married a year later and
We now offer savings and lending products with a had a baby another 11 months after that. Her husband,
100% focus on customers and notwithstanding fierce Jon has thrown himself into becoming a stay-at-home dad
competition, I believe we continue to occupy a unique with the same energy as Laura has invested in the banking
space. We are also looking to launch a data-driven world - a win-win situation for all.
toolkit for SMEs that will help them with financial
planning and day-to-day banking matters, so we are
fuelling the growth of business banking too. Laura Farnworth
18 swinburnemaddison.co.uk swinburnemaddison.co.uk 19YO IN
U CA
MI SE
SS
Inheritance Tax When Wills
ED
IT
payments hit new become complex
record high The average age that a person decides to make a Will is 47, which may coincide with the
time that mortgages are close to being paid off and children are about to leave the family
home. Wills can however be made from as young as 18, or 16 in the case of those serving
in the armed forces.
Recently published analysis by financial advice firm and insurer NFU Mutual has revealed
that the average inheritance tax (IHT) bill reached almost £200,000.00 for the 2018/19 So why do we leave it so late? One size does NOT fit all
tax year, resulting in a 3.1% increase in HMRC’s annual receipts to a record £5.4billion. There are often misconceptions centred around the Will A more complex Will may be required in the following
making process itself. It may be that those younger than 30, situations: -
These figures are the latest in a trend of steady increases that show little sign of slowing down. March 2019 was a particularly who are still be establishing themselves in relationships and
ontrol is required as to the ultimate destination of
C
profitable month for the Treasury, with receipts up 44.4% on the previous month. getting on the property ladder, consider they have little to your assets. This could include establishing a trust
leave. Other clients inform us that they did not appreciate that provides income for your spouse during their
Whilst it is too early to speculate on the reason for the sustained increase, many of these payments are believed to be preventable.
the problems or reality of how their estates would be lifetime, which then transfers capital to your children
Unfortunately, public awareness on the various IHT reliefs, exemptions and allowances available is still very low, so the government after the death of your spouse. Such arrangements are
distributed if they died ‘intestate.’ Many young parents
continues to reap more and more revenue from this very complex system. commonplace for couples with children to previous
we see do not appreciate the importance of providing for
relationships;
Measures as simple as taking full advantage of the residence nil rate band and the variety of lifetime guardians via their Wills.
exemptions available can have a significant impact on your final IHT bill. By seeking legal advice now, You wish to make numerous gifts;
Making a Will is the only means by which to ensure
you can ensure that you have all the information you need to navigate this complicated tax regime, rovision is required for a dependant who is unable
P
that such issues are addressed and your loved ones are
safe in the knowledge that more of your money will be making a difference to to care for themselves, for example, minor children
provided for appropriately after you are gone.
the future of your loved ones after you are gone. or a disabled beneficiary;
If your circumstances are straightforward, a simple Will ou have family members who may potentially make
Y
For specialist legal advice on inheritance tax, or any other aspect
may be sufficient. With a simple Will, you leave your a claim against your estate (for example, children
of estate planning, please contact a member of our from whom you are estranged);
entire estate to one class of beneficiary (for example, your
Private Client team on 0191 384 2441.
children or nieces and nephews) without any additional our property is shared with someone who is
Y
gifts or trusts. Spouses and partners can prepare simple not a spouse or civil partner;
”mirror” Wills, through which they leave their entire estate
Your estate is large and likely to be subject to
to each other upon the first death, and thereafter to a
inheritance tax and tax planning advice is required;
single class of beneficiaries.
You have agricultural or business assets;
However, a simple Will is not always suitable and it is
important that your Will is tailored to your individual needs. You have assets overseas.
If you have any initial queries regarding the process of making a Will, or any other issues covered in this
article, please do not hesitate to contact a member of our Private Client team on 0191 384 2441, and we
would be more than happy to discuss these with you in advance of any face-to-face meeting.
Anna Stephenson Nadine Walton Jennifer Purvis Kelly Richardson
20 swinburnemaddison.co.uk swinburnemaddison.co.uk 21Durham
Returning favourites
Lumiere 2019 also saw the return of many past favourites from throughout the festival’s history, including:-
transformed
he giant glittering snow
T F ogscape #03238, the he majestic Mysticète
T
globe I Love Durham mysterious nocturnal fog sculpture by Top’là Design/Catherine Garret
by Jacques Rival (France); by Fujiko Nakaya (Japan) and (France), which will resurface
Simon Corder (UK); and upstream near Pennyferry Bridge.
into a glittering gallery without walls
We take a look back at the highlights from
Lumiere’s 10th anniversary programme.
The full programme of 37 artworks for Lumiere 2019 was
New for 2019 Speaking in the lead up to the festival
revealed to the public earlier this month and we were thrilled
to see Durham once again transformed and reimagined through This year saw several new commissions and many interactive Helen Marriage, Director of Artichoke, said:
the dramatic installations, dynamic projections and reflective artworks that visitors could play with. Highlights included:-
works of this showstopping festival.
tones by artist collective Tigrelab Art (Spain); a shape-
S
Created by Artichoke, the UK’s leading producers of art in the shifting video-mapped projection that will animate the facade
This year’s 10th anniversary edition offers the chance to relive some of the wonderful memories
public realm, Lumiere ran from Thursday 14th - Sunday 17th of Durham Cathedral that invites audiences to interact and
November 2019. For the most ambitious edition of Lumiere manipulate using tablets made from stone;
of previous festivals, sprinkled as always with an element of surprise. We hope visitors from
yet, a selection of favourite artworks from previous festivals sat across the county and beyond join us as we take to the cobbled streets of Durham for four
alongside a host of new commissions by international artists and uman Tiles by Ocubo (Portugal), which will transform
H nights of wintry magic.
fresh talent from the North East. the exterior of Gala Theatre & Cinema responding to the
movements of visitors whose bodies will create projected
Free to attend, the festival was commissioned by Durham patterns in real-time;
Professor Janet Stewart, Executive Dean Cllr Simon Henig, Leader of Durham
County Council, with additional support from Arts Council
(Arts and Humanities) at Durham University, said: County Council, said:
England, Durham University and a host of further funders and eometrical Traces by Javier Riera (Spain), which will
G
supporters. illuminate the city’s riverside tree canopies in a mesmerising
new work that draws upon mathematical patterns found
Lumiere 2019 marked 10 years since the festival first launched in nature;
in Durham. This dazzling night-time spectacle has now become Lumiere is an inspiring event; it’s Over the decade in which it has run,
an unmissable fixture in the cultural calendar of the North East. eon Dogs by Deepa Mann-Kler (UK), which is a series
N innovative, exciting and something that Lumiere has provided a treasure chest of
While the number of artworks and visitors has continued to of glowing balloon dog sculptures previously seen at many, many people look forward to memories for hundreds of thousands of
increase, the idea behind the festival — to bring art out onto the Lumiere London;
greatly. As Durham’s University, we’re local residents and visitors. It is a world
streets and cast the city in a new light — has remained steadfast.
nd over End by Lucy McDonnell (UK), which will remind
E proud to have been involved with Lumiere class event which has huge social and
Since the first edition, Lumiere has returned to the city every everyone of childhood with this clever homage to the iconic from the beginning and very pleased to economic benefits for County Durham and
other year, as well as lighting up Derry~Londonderry in 2013, slinky; and be a major partner for Lumiere Durham the North East. This year’s programme
during its year as UK City of Culture, and London in 2016
ashed Up by Diane Watson (UK); a series glowing
W 2019: sponsoring the festival, hosting new is truly awe-inspiring and will once again
and 2018. The festival has become an important part of
Durham’s identity, so much so that it has become known collages assembled from plastic reclaimed from the beaches and returning installations and supporting showcase our county as a place of light,
as the ‘Place of Light’. of the North East. across cultural engagement, volunteering where heritage is cherished and innovation
and logistics. is embraced and encouraged.
22 swinburnemaddison.co.uk swinburnemaddison.co.uk 23Aykley Heads, Durham Tel: 0191 384 2441
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