Equity and Trusts

1) F Ltd is a company which designs and manufactures solar energy panels which promote low carbon energy and reduce greenhouse gas emissions. F Limited has produced a new cell for the solar energy boards called the ‘Soleil’ which is far more efficient than older technology. F Ltd is in the final stages of preparing to market the Soleil and have applied for a patent on its design. G was deeply involved in the development of the design of the Soleil and H Ltd, another company involved in the design and production of solar energy, have approached G asking him to join their design department and consequently G has left F Ltd. F Ltd have been told by a journalist that H Ltd is developing its own solar cell which is supposed to be more efficient, which is to be called the ‘Sunspot’. F Ltd believe that the Sunspot is based on F Ltd ‘s own design for the Soleil and know that G took copies of the designs for the Soleil when he left the company.

F Ltd seeks your advice as to whether they could obtain an interim order to prevent H Ltd from developing, manufacturing and marketing the Sunspot.

2) Rodney runs an ice cream business making proper ice cream based on old recipes. One of the core ingredients is cream that is purchased from Italy but with Brexit Rodney has decided to source the cream from somewhere in the UK. However, the cream is more expensive and has a detrimental effect on the quality of the ice cream. In the meantime, he has a number of employees to pay and they have not been paid for the last week as sales have kept falling. Rodney decides to approach the bank for a loan and after careful consideration of the finances of Rodney’s business they decide to lend him the money but on the following terms:
(i) The money must be placed into a separate account from the assets of the company;

(ii) That the money can only be used for the purpose of paying the employees of the company and no other purpose;

(iii) Should the original purpose fail the money must be returned to the bank

(iv) That both Rodney and the Bank agree this arrangement.