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December 22, 2014

A court ruling in Germany making tax breaks and exceptions on inheritance for family businesses illegal may cause concern in the UK, a British law firm has warned.

A court ruling in Germany making tax breaks and exceptions on inheritance for family businesses illegal may cause concern in the UK, a British law firm has warned.

November 5, 2014

A list of 12 policy recommendations to support British family businesses has been published by a national sector organisation, ahead of the country’s elections next year.

A list of 12 policy recommendations to support British family businesses has been published by a national sector organisation, ahead of the country’s elections next year.

Notable family businesses in the UK include construction machinery manufacturer JCB, famed for its yellow diggers, and Associated British Food, which is controlled by the Weston family and owns discount retailer Primark.

September 1, 2014

Family-controlled banks Pictet and Lombard Odier have left behind a dated corporate structure by transitioning from an unlimited to a limited liability partnership, a family wealth lawyer says.

Family-controlled banks Pictet and Lombard Odier have left behind a dated corporate structure by transitioning from an unlimited to a limited liability partnership, a family wealth lawyer says.

Last week both banks released their financial data for the first time in their more than 200-year-old histories – a requirement of their new partnership structures, which both changed from unlimited to limited liability in January this year.

June 25, 2014

US grocery chain Market Basket has chosen not to re-elect second-generation chief executive Arthur T DeMoulas following a longstanding feud over the direction of the family business. 

US grocery chain Market Basket has chosen not to re-elect second-generation chief executive Arthur T DeMoulas following a longstanding feud over the direction of the family business. 

In a statement, the board, chaired by DeMoulas’s cousin and rival Arthur S Demoulas, said the 58-year-old would “not retain any management responsibilities moving forward”.

Market Basket, founded initially as a small grocery store in 1917, has annual revenues of more than $4 billion (€2.9 billion) and employs 21,000.

May 1, 2014

James Packer's expansion plans for his resorts business in Sri Lanka have suffered a setback, with the government refusing to grant a casino license for a planned $400-million (€288.3 million) development in Colombo.

James Packer's expansion plans for his resorts business in Sri Lanka have suffered a setback, with the government refusing to grant a casino license for a planned $400-million (€288.3 million) development in Colombo.

Since 2007, the billionaire – a third gen of the Australian media dynasty behind Consolidated Press Holdings – has been moving away from his family's traditional interests to focus on developing his casinos and resorts company, Crown Limited.

April 10, 2014

Families need to ensure that flexibility is built into the legal framework of their businesses and family trust vehicles to avoid “context conflict” and safeguard governance, a legal whitepaper suggests.

Families need to ensure that flexibility is built into the legal framework of their businesses and family trust vehicles to avoid “context conflict” and safeguard governance, a legal whitepaper suggests.

Context Conflict: Preserving Goals and Values in the Family Enterprise highlighted the potential conflict in family businesses between value maximisation in the present and creating long-termvalue for the family in the future.

April 9, 2014

The octogenarian co-founder of a UK-based luxury hotel chain has lost a court battle with his son to force him share the wealth generated by the enterprise he helped to build.

The octogenarian co-founder of a UK-based luxury hotel chain has lost a court battle with his son to force him share the wealth generated by the enterprise he helped to build.

Bal Mohinder Singh, 87, co-founded the Radisson Blu Edwardian chain with his son Jasminder, 63, after immigrating to the UK from India via Kenya in the 1970s.

March 27, 2014

The nature of the Internet means online insults traded between two family business next gens, Aga Bakrie and Nat Rothschild, could resurface in Google searches and due diligence for years to come, even after the media storm surrounding it has died down, say family business experts.

The nature of the Internet means online insults traded between two family business next gens, Aga Bakrie and Nat Rothschild, could resurface in Google searches and due diligence for years to come, even after the media storm surrounding it has died down, say family business experts.

This week the Indonesian family behind Bakrie Group formally separated itself from its ill-fated natural resources group Bumi (now renamed Asia Resource Minerals) it co-founded in 2010 with Nat Rothschild, of the English branch of the famous banking dynasty.

March 25, 2014

A US family business’s fight against the inclusion of emergency contraceptives in its healthcare insurance policies could set a precedent for family and non-family firms alike, according to a reproductive health policy expert, by implying a corporation has the same religious freedoms as an individual.

A US family business’s fight against the inclusion of emergency contraceptives in its healthcare insurance policies could set a precedent for family and non-family firms alike, according to a reproductive health policy expert, by implying a corporation has the same religious freedoms as an individual.

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