McKeags backs initiative

Oct 26 2007 The Journal

AS a local business which has grown from strength to strength, McKeags Law Firm supports the initiative of the Asian Business Forum in its third successful year of standing in the North-East.

McKeags is a local practice based in Newcastle city centre and Gosforth employing over 250 people with a large client base from all over the UK. The firm has been established for more than 75 years and is a well known brand both locally and nationally.

An area of particular growth in 2007 has been McKeags’ private client commercial department, which provides a range of services to local businesses. McKeags has been working on a formula tailored to assisting businesses to take their “next step”, providing services ranging from business acquisitions and disposals to taking commercial leases for new business premises.

Partner Malcolm Croudace explains: “The department has worked hard to identify the needs and pressures placed on businesses today and our solicitors have been forging relationships with local tax advisers, commercial property agents, stock brokers and mortgage brokers to offer a complete “all round” service to our clients.

“McKeags has recently completed a number of land acquisitions for new development companies and provided the ‘onward plot’ sale model which is currently being used by the firm’s plc developer clients. Our competitive fees combined with a service built around highly sophisticated case management and quality advice provide the ideal support for those who are looking to venture into new areas of business. Indeed, the firm is currently in the process of being appointed to the legal panel of One NorthEast’s business support service, Business Link, on the back of recommendations from existing clients. With the implementation of the first stages of the new Companies Act 2006 earlier this month, McKeags is well prepared to advise companies of the changes that will affect directors and shareholders alike.

“This is the first stage of a huge shake up in the area of Company Law and all businesses should be aware of the important changes.”

Directors’ fiduciary duties have been codified and now include an obligation to consider the effect of any particular decision made by the company on the local community.

“Decision making processes need to be updated and a ‘paper trail’ established in the most efficient way to demonstrate compliance with the new Act,” said Mr Croudace.

“The aim of the Asian Business Forum is to support and nurture entrepreneurs within the North-East Asian business community and McKeags takes its participation in achieving that goal very seriously. This is why we have supported the concept of the ABF since its launch in 2004 and are proud of the success stories across the region enabled by the Forum. Here’s to another great year ahead.”

McKeags commercial team is based in Newcastle City Centre at One Carliol in Carliol Square. To make an inquiry email the team at commercial@mckeags.co.uk or contact tel: (0191) 211-1800 quoting the ABF reference.