Bankruptcy court rules OID generated in fair market value debt exchange should be allowed

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Privacy Shield open for self-certification on Aug 1

On August 1 US organisations can finally begin to submit self-certification requests to the Department of Commerce under the new EU-US “Privacy Shield.” This opens a new era for the lawful transfer of personal data from the European Union westward across the Atlantic. The Commerce Department has published a practical guide, “How to Join Privacy Shield: Guide to Self-Certification,” […]

Brexit - Flag of European Union

Tax Issues around Brexit

Our European tax team recentlydelivered a breakfast seminar exploring the tax issues and challenges posed by the result of the EU Referendum. The team covered a range of issues, including: the European framework, including overview of the EU, EEA, Eurozone and other European groupings; the process of the UK’s withdrawal from the EU; and the […]

India shuts down Mauritius route

Time to rethink investment structures On May 10 the Indian government issued a press release announcing the signing of a protocol to amend the India-Mauritius tax treaty.1 As a result of these amendments, Mauritius tax residents will no longer be exempt from Indian capital gains tax on sales of shares of Indian resident companies that […]

Insurance: new assessment method for GSIIs

The International Association of Insurance Supervisors (“IAIS”) has published its updated assessment methodology for designating global systemically important insurers (“G-SIIs”) (the “Revised Methodology”). As part of the review cycle of the IAIS and following consultations in 2015 the Revised Methodology now comprises five phases and adopts absolute reference values for certain indicators. Additionally, the Revised Methodology incorporates a […]

Outlook in enforcement actions against foreign banks at the new NYDFS

By Matthew L. Biben, Courtney M. Dankworth, Eric R. Dinallo, Mary Beth Hogan, Gregory J. Lyons, David Sarratt, David G. Sewell, Harriet M. Antczak On June 15 Maria Vullo was confirmed as the new Superintendent of the New York State Department of Financial Services (“NYDFS”), solidifying the first permanent change in leadership at the agency. Since the departure last summer of […]

Latest Briefings

Relief for retailers in ATM business rates decision

By Matthew Forrest External facing supermarket cash machines are not to be separately assessed for business rates, the Court of Appeal has ruled today in Cardtronics Europe Ltd (and others) v Sykes and others [2018] EWCA Civ 2472. The Court had to decide the correct legal approach to the rating of external ATMs in supermarkets, shops […]

Disentangling the scope of an inquest

By Nageena Khalique QC Coroner for the Birmingham Inquests (1974) v. Hambleton & Ors. [2018] EWCA Civ 2081 (judgment here). On the evening of 21 November 1974 two successive explosions tore through two busy city centre pubs in the heart of Birmingham. The bombings, thought to be perpetrated by the IRA, resulted in the largest […]

Austria: The Jewel in the Crown

By Sebastian Lukic Pursuant to Article 267 of the Treaty on the Functioning of the European Union (“TFEU“), the Court of Justice of the European Union (“CJEU“) shall give preliminary rulings, at the request of courts or tribunals of the Member States, on the interpretation of Union law or the validity of acts adopted by […]

Latest development in Employment Law – November 2018

By Stuart McBride Read our updated A-Z of Employment Law, which sums up the latest developments to November 2018. This quarter’s edition includes: Brexit, the impact Employment contracts post Tyne and Wear Passenger Transport Executive v Anderson UK Corporate Governance Code Criminal record checks and barring CEO and ethnicity pay-gap reporting

Gender pay gap reporting – The hidden consequences

By Angharad Schell With fewer than six months until the next gender pay gap reporting deadline, employers need to start thinking about their reporting obligations. There has rarely been a time with more focus on gender inequality issues, in the wake of #metoo and high profile pay disputes. Last year, there was significant press focus […]

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Bar Council and BSB slammed over ‘systematic’ regulatory failures

Bar leaders have been carpeted for applying unfair influence on regulators over changes to professional rules and for spying on independent private meetings. In a damning report yesterday (26 November) that will increase calls for a unified legal profession front line regulator, the Legal Standards Board (LSB) issued coruscating criticism of the Bar Council for […]

Freshfields

Freshfields private equity heavyweight Bown leaves for CVC

Freshfields Bruckhaus Deringer partner Chris Bown is leaving the magic circle firm to join private equity house CVC, a key client of the firm’s corporate group.  Bown, who will retire from the firm at the end of the financial year, will join CVC as a senior adviser on 1 May in a part-time role working […]

State intervention in the European electricity market

On 5 November, the European Commission published a communication, ‘Delivering the internal electricity market and making the most of public intervention’. Public, or state, intervention can be at regional, national or local level and can take different forms, such as state aid to certain sectors or companies in the form of grants or exemptions from taxes and charges; […]

Dr Michael Burg joins corporate practice at DLA Piper’s Cologne office

DLA Piper has announced that Dr Michael Burg has joined the firm’s corporate practice as a partner in the Cologne office. Burg joins from White & Case, where he was a partner in the corporate/M&A practice. He has extensive knowledge in advising domestic and foreign companies, strategic investors and financial investors, banks and political institutions […]

Charity Commission issues revised public benefit guidance

On 16 September 2013, the Charity Commission published its revised public benefit guidance for all charities. The guidance was previously contained in a single document called ‘Charities and Public Benefit’ together with supplementary guidance on ‘Public Benefit and Fee-charging’. The Charity Commission withdrew parts of this guidance in December 2011, following the decision of the […]

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