News

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.

Gordon McArthur Renfrewshire-based provider of cloud infrastructure to the finance industry, Beeks Financial Cloud, is set to create 20 jobs as part of a £2 million investment in its facilities.

Tax and legal firm CMS’s Glasgow operation has completed its move to 1 West Regent Street, a newly completed Grade A property located in the city centre.

James Andersen By James Andersen, a senior audit manager at Grant Thornton in Scotland

The average price of a residential property in Scotland has shown an increase of 0.6 per cent during the second quarter of financial year 2016/17 compared with the same period in the previous year, with the highest rise of 9.7 per cent being reported in East Renfrewshire.