The Lawyer Briefings

Legal guides, white papers and thought leadership from The Lawyer’s third-party contributors, plus a curated top legal briefings of the week.

Latest briefings

Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

FCA consults on new consumer duty in retail financial markets

Following the April 2019 publication of its feedback statement on a duty of care and potential alternative approaches, the Financial Conduct Authority (FCA) is consulting until 31 July 2021 on a new Consumer Duty that would set clearer and higher expectations for firms’ standards of care towards consumers.

Tech companies: three things you should know from the 2021-22 Quebec budget

The Québec Budget 2021–2022 includes measures encouraging investment to accelerate technology adoption and strengthens several tax measures aimed at the technology sector. The three key tax measures that tech businesses and entrepreneurs should know about are discussed below.

Workplace testing and vaccinations: What employers need to know

Workplace testing has proven to be a crucial piece in the UK government’s jigsaw to get British business back on its feet. But how can businesses implement a workplace testing programme and will the vaccine roll out make a difference?

What makes effective decision making in a virtual setting?

When quality decisions are made efficiently, team members are willing to actively support and engage in the endpoint. This buy-in creates a critical momentum, avoiding the sense of limbo that can linger when decision making is postponed or unclear.

Green ambitions for post-Brexit UK financial services

Green finance remains high on the agenda despite the potential distractions of COVID-19 and Brexit. Chancellor of the Exchequer Rishi Sunak has already set out further developments in the UK Government’s plans for the future of financial services post-Brexit. Alongside updates on approach to matters including equivalence and financial technology, the announcement emphasised the UK’s intention to remain a leader in green finance.

In-house briefings

FCA consults on new consumer duty in retail financial markets

Following the April 2019 publication of its feedback statement on a duty of care and potential alternative approaches, the Financial Conduct Authority (FCA) is consulting until 31 July 2021 on a new Consumer Duty that would set clearer and higher expectations for firms’ standards of care towards consumers.

Workplace testing and vaccinations: What employers need to know

Workplace testing has proven to be a crucial piece in the UK government’s jigsaw to get British business back on its feet. But how can businesses implement a workplace testing programme and will the vaccine roll out make a difference?

Why competition law is important for business

This series aims to provide an initial guide to understand what competition law is and its importance to SMEs, the behaviours and business practices that are considered anticompetitive, their potential consequences, and practical tips to prevent these practices.

Careers briefings

What makes effective decision making in a virtual setting?

When quality decisions are made efficiently, team members are willing to actively support and engage in the endpoint. This buy-in creates a critical momentum, avoiding the sense of limbo that can linger when decision making is postponed or unclear.

Keith Schilling on how to create a leadership legacy

Keith Schilling, Chairman and Senior Partner at Schillings, shares what outstanding leadership means to him, and discusses the importance of D&I, how mentoring impacted his career, and what inspired him to set up his own firm.

Leveraging your team’s assets

The best teams are diverse and boast a mix of personalities, skills, talent and competence. Effective leaders will harness that capacity and empower every team member to contribute.

Setting up your team to succeed

We’ve all experienced being part of a team that operates well and gets great results. But many of us may also have endured working in a team that lacks the key components to make it work efficiently. So how do you ensure that you build a team that will thrive?

Investing in women

The webinar brought together our various communities to discuss the progress combatting the disparities that exist between female and male entrepreneurs, making entrepreneurship more accessible to women, increasing funding access for women to start and grow businesses as well as addressing broader societal issues and unconscious bias that have created barriers for women generally.

Personalized jobs: How tailored working can attract the best talent

In our previous Future of Work blog we looked at the concept of universal virtuality and how it will be both a driver and a result of digitization and automation in the future workplace. With a more virtual workforce, businesses will need to put greater effort into keeping their employees engaged.

Team coaching – a case study

TPC Leadership delivered a 1:1 and Team coaching programme over a 12 month period supporting the client in forming a new team structure with a high profile Formula One racing team and constructors.

Banking and finance

Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

FCA consults on new consumer duty in retail financial markets

Following the April 2019 publication of its feedback statement on a duty of care and potential alternative approaches, the Financial Conduct Authority (FCA) is consulting until 31 July 2021 on a new Consumer Duty that would set clearer and higher expectations for firms’ standards of care towards consumers.

Green ambitions for post-Brexit UK financial services

Green finance remains high on the agenda despite the potential distractions of COVID-19 and Brexit. Chancellor of the Exchequer Rishi Sunak has already set out further developments in the UK Government’s plans for the future of financial services post-Brexit. Alongside updates on approach to matters including equivalence and financial technology, the announcement emphasised the UK’s intention to remain a leader in green finance.

Funds & investment management update – Ireland and Luxembourg – Q1 2021

This quarter’s highlights include the commencement of the Investment Limited Partnerships (Amendment) Act 2020, a number of AML developments, the publication of performance fee guidance, a Central Bank of Ireland cross-industry guidance on outsourcing consultation, the CSSF’s publications on IT outsourcing and cloud computing, as well as a number of EU sustainable finance developments.

STEP Geneva Webinar – Beneficial Ownership Registers

Partners Simon Schilder and Dave Sherwin along with Counsel Katherine Neal and Managing Associate Chris Hards will speak on the STEP Geneva Webinar Series for 2021. See the below link to find out what the presentation on Beneficial Ownership Registers covers:….

Recent trends: provisional liquidation in the Cayman Islands

Introduction There are two grounds on which provisional liquidators (PLs) may be appointed in the Cayman Islands under the Companies Act (2021 Revision) (the Companies Act), following the presentation of a winding up petition and before the making of a winding up order. The first is what is commonly referred to as a “full powers” […]

Company and commercial

Food labelling – Natasha’s Law

From 1 October 2021, the food labelling requirements for foods which are prepacked for direct sale (PPDS) will change in England, Wales and Northern Ireland.

Bridging the IT and data gap in post-pandemic retail

Our latest research among the UK’s top 100 retailers reveals that IT and digital capabilities are failing to keep pace with demand, and the challenges and opportunities with improving the omnichannel experience.

Misrepresentation claims: An essential update and practical advice

Misrepresentation: What businesses need to know When parties consider doing business together, a multitude of enquiries, discussions and negotiations take place before any deal is done. Marketing campaigns and promotional offers and communications have often been undertaken and information has been displayed online prior to the contemplation of any particular enquiries or leads. As part […]

Product liability: Quebec law may apply to you without you knowing it

It may come as no surprise that laws in Quebec favour consumers, purchasers and victims in product liability claims. Therefore, manufacturers and professional sellers (such as distributors, wholesalers and retailers) will tend to look to a law outside Quebec to govern their relations. As the title of this article suggests, a manufacturer or professional seller […]

Competition and EU

Why competition law is important for business

This series aims to provide an initial guide to understand what competition law is and its importance to SMEs, the behaviours and business practices that are considered anticompetitive, their potential consequences, and practical tips to prevent these practices.

New competition act in Slovakia: a practical update but not a revolution

A new competition act will come into force in Slovakia on 1 June 2021, replacing the former competition act applicable since 2001. The completely new act was adopted because the Slovak competition authority wanted a fresh start for the Slovak competition legislation and not just adopt its 11 amendments due to the need to implement the ECN+ directive.

Brexit: The EU-UK TCA: COVID Vaccines and the “Level Playing Field”

On 24th December 2020, the UK and the EU concluded the EU-UK Trade and Cooperation Agreement (the “TCA”) on the legal relationship to apply between them when EU law ceased to apply to the UK on 31st December 2020. The 1400 page document covers of panoply of aspects of daily life for citizens, businesses and other organisations, including international trade.

Let the NFT self-experiment begin!

Non-fungible tokens (NFTs) aren’t new, in fact they’ve been around for years. However, it took the auction of an NFT linked to an image by Christie’s Auction House and the fall of the hammer at a spectacular USD 69 million to create worldwide attention and interest in NFTs.

Amendments to the Croatian Competition Act

Amendments to the Croatian Competition Act entered into force on 24 April 2021. One of the main goals of the Act was to transpose Directive (EU) 2019/1 of the European Parliament and of the Council of 11 December 2018 to make the competition authorities of the Member States more effective enforcers and to ensure the proper functioning of the internal market into Croatian law.

Corporate

Tech companies: three things you should know from the 2021-22 Quebec budget

The Québec Budget 2021–2022 includes measures encouraging investment to accelerate technology adoption and strengthens several tax measures aimed at the technology sector. The three key tax measures that tech businesses and entrepreneurs should know about are discussed below.

Newcastle United FC and the “reasonable bystander” test

Newcastle United Football Club (Newcastle) recently applied to remove the chair of the arbitration panel due to consider the Premier League’s rejection of a proposed takeover of the club. The English High Court (Court) ruled that Michael Beloff QC could continue in his role, as Newcastle’s allegation of bias did not meet the “reasonable bystander” test.

SPACs in 2021 – the new model for private equity?

This year has seen a number of PE backed SPAC launches, as well as announcements of proposed PE SPACs, which in total could amount to several billion dollars in IPO proceeds. If these SPACs prove successful, then the SPAC could become a major part of how PE does business over the next decade.

Offshore SPACs explained and the benefits

The resurgence of special purpose acquisition companies (SPACs) as an alternative to traditional IPOs was one of the major talking points of 2020. SPACs have become attractive propositions for investors, venture capital firms and private equity funds looking to efficiently deploy capital quickly and enhance their portfolios in an era of low interest rates and market volatility.

Trustee knowledge series: Advanced paper one: adding and excluding beneficiaries

Offshore trusts often include provision for the addition, appointment and removal of beneficiaries, to provide flexibility for the future and to “arm the trustees with a weapon which will enable them to consider all developments and respond to all future mishaps and disasters”. Without the benefit of a crystal ball, settlors cannot predict if a change in future circumstances may mean certain persons either need to be added to the class of beneficiaries or removed from the existing class. This paper is intended to give an overview of the relevant powers of addition and removal to be taken into account before exercising the powers and some of the common issues that may arise in relation to exercising the powers.

Employment

Workplace testing and vaccinations: What employers need to know

Workplace testing has proven to be a crucial piece in the UK government’s jigsaw to get British business back on its feet. But how can businesses implement a workplace testing programme and will the vaccine roll out make a difference?

Pension underpayment “scandal” in the UK

The subject of “pensions” has never been a straightforward one. In addition, it has never been cheap to provide a pension. In addition, none of us was born with the ability to claim the appropriate amount of pension or to check that the amount paid is the correct amount. That sort of information has to […]

Moving on up: Improving social mobility with Virtual Work Experience

Work experience is a great way to inspire young people to pursue careers in competitive industries which they may otherwise not even consider. But when work experience typically involves going into offices to see the job first-hand, what happens when no one can leave the house? With offices closed during lockdown, the pandemic has had […]

STEP Geneva Webinar – Beneficial Ownership Registers

Partners Simon Schilder and Dave Sherwin along with Counsel Katherine Neal and Managing Associate Chris Hards will speak on the STEP Geneva Webinar Series for 2021. See the below link to find out what the presentation on Beneficial Ownership Registers covers:….

DC excellence: diversity in DC

In a DC context diversity touches all aspects of what we do from the investments that we offer our members, engaging them at all stages of their savings journey and identifying areas of focus including the gender pensions savings gap. It also affects how we operate as an industry and as trustee boards. Getting these […]

Energy and environment

Green ambitions for post-Brexit UK financial services

Green finance remains high on the agenda despite the potential distractions of COVID-19 and Brexit. Chancellor of the Exchequer Rishi Sunak has already set out further developments in the UK Government’s plans for the future of financial services post-Brexit. Alongside updates on approach to matters including equivalence and financial technology, the announcement emphasised the UK’s intention to remain a leader in green finance.

NFTs: What about energy and climate issues?

The minting, transfer and even the sheer existence of NFTs require a lot of energy. But what is the reason for all this energy consumption and are there regulatory instruments to curb it?

Focus on COP26: Logistics – future proofing or obsolescence

Net zero targets now cover in excess of two thirds of global GDP and over a fifth of the world’s largest public companies, according to the latest report published by the Energy and Climate Intelligence Unit and Oxford Net Zero.

SFDR Level 2 – 7 Months To Go

1 January 2022 is the next key compliance deadline for funds and fund managers under the EU Sustainable Finance Disclosures Regulation (SFDR). It is also the scheduled effective date of SFDR Level 2 measures, a complex and prescriptive set of technical compliance standards (currently at various stages of finalisation) for SFDR. To support compliance preparations, […]

Climate friendly contract clauses

The Chancery Lane Project (TCLP) is a pro bono initiative that calls on the collective legal expertise of its 700+ collaborators to develop new contract clauses and model laws to fight climate change and achieve net zero carbon emissions. To date, TCLP has developed 70 model clauses and a number of model laws. We are […]

Unstainable Hydrogen: Green and blue and the EU/UK policy overview

Hydrogen has received renewed attention recently as a fundamental part of the global energy transition. According to the Hydrogen Council, more than 30 countries had a hydrogen strategy at the start of 2021 and governments across the globe have already committed more than US$70 billion in public funding for hydrogen projects.[1] Europe (including the UK) […]

Funds

Funds & investment management update – Ireland and Luxembourg – Q1 2021

This quarter’s highlights include the commencement of the Investment Limited Partnerships (Amendment) Act 2020, a number of AML developments, the publication of performance fee guidance, a Central Bank of Ireland cross-industry guidance on outsourcing consultation, the CSSF’s publications on IT outsourcing and cloud computing, as well as a number of EU sustainable finance developments.

SFDR Level 2 – 7 Months To Go

1 January 2022 is the next key compliance deadline for funds and fund managers under the EU Sustainable Finance Disclosures Regulation (SFDR). It is also the scheduled effective date of SFDR Level 2 measures, a complex and prescriptive set of technical compliance standards (currently at various stages of finalisation) for SFDR. To support compliance preparations, […]

Ireland Update: Funds Costs & Fees – Regulatory Spotlight

The last few years have seen an increased regulatory focus on fees and costs of investment funds. In this context, ESMA announced the launch of a common supervisory action (“CSA”) with national competent authorities (“NCAs”) on the supervision of costs and fees of UCITS across the EU in early January 2021, leading to the Central […]

2021 – a Jekyll and Hyde year for SPACs

SPACs were the darling of Q1 2021 with 298 SPACs raising a total of USD88 billion, exceeding the USD76 billion raised in the whole of 2020 and representing a 2,200% increase year on year versus Q1 2020. In comparison, since 1 April 2021 only 20 SPACs have priced with commentators now questioning the market for SPACs. In this article we offer our views on why this has happened and look ahead to the future for SPACs and what may happen next.

Insolvency and restructuring

What’s new with strata wind-ups?

A strata wind-up is an excellent way to realize the economic potential of a multi-unit residential property (the “strata”) by leveraging the value of each unit in the strata as a whole to a developer that may want to re-develop on the strata’s property. This article summarizes the onset and development of this emerging sector in light of recent case law and current events.

What can landlords do about restructuring plans?

Virgin Active has been in the news recently, as it has proposed restructuring plans which rely on the new legislation found in the Corporate Governance and Insolvency Act 2020.

Corporate insolvency in 2021

After a period of significant inactivity as a result of the various temporary measures introduced during the pandemic, we are now approaching an insolvency cliff edge in the UK. In this video, senior restructuring and insolvency lawyers from TLT’s Scottish, Northern Irish and English offices discuss:…

Sports Update – End of season round-up

Hot topics for football clubs ahead of the summer transfer window and the 2021/22 season ‘With the 2020/21 season now finished and the transfer window about to open, there are plenty of legal issues for clubs to consider. Our specialist Sports Team has provided an end of season round-up of the big issues that clubs […]

Why use Jersey entities in restructurings?

As the extension of various forbearance measures and fiscal support packages continues in response to the global pandemic, Appleby has seen an increase in structuring and restructuring activity. Corporates and corporate groups are using this time to “right size”, restructure existing debt and deploy other processes to secure sustainability and the long term future of […]

A practical cross-border insight into restructuring and insolvency law

The detailed content of year’s edition is very different from years gone by, primarily as a consequence of the government reactions to the consequences of COVID-19, and I expect that there will be yet more change to reflect in the chapters of this Guide in the years to come. A lot of what we have seen in the past year could be described as ‘crisis management’.

Insurance

Bermuda Focus: An Exceptional Island

Bermuda brings to mind images of pretty pink sand beaches and beautiful blue seas. Its financial services industry prides itself on being one of the more developed jurisdictions in the region compared to its Caribbean peers. Bermuda has perhaps the largest and most sophisticated asset servicing ecosystem. It offers an infrastructure that is unsurpassed in […]

County Court confirms pandemic rent suspension clause is normal

Since the first wave of the COVID-19 pandemic and the early rent concession discussions, landlords and tenants have been grappling with providing for future pandemics. Early thinking that pandemic disruption should be an occupier risk was made difficult by the approach of insurers to occupiers’ business interruption polices (now the subject of a Supreme Court decision). Whatever the ultimate outcome for 2020 policies, future insurance is unlikely to be the answer. So landlords and tenants have been trying to strike a balance in new lease drafting to deal with the risk of future pandemic disruption. But what is normal? What is fair?

Cayman Islands insurance regulatory update

The Cayman Islands Monetary Authority (CIMA) has issued a new Regulatory Policy on Licensing for Class B Insurers, effective immediately, which sets out CIMA’s expectations and licensing requirements for applicants of class B insurer’s licences.

Not just for claimants – insuring defendants

For commercial disputes there is a perception that litigation insurance is only for claimants – and not for insuring defendants. In this article we get under the skin of why that perception exists with commercial litigators.

Intellectual Property

NFTs: What about energy and climate issues?

The minting, transfer and even the sheer existence of NFTs require a lot of energy. But what is the reason for all this energy consumption and are there regulatory instruments to curb it?

Strategies for commercialising your IP [on-demand webinar]

Intellectual property is just one of many considerations that businesses must factor into their growth strategies – but it should never come as an afterthought. In this webinar IP professionals give you the tips and best practices for using your intangible assets strategically as you scale your business.

Five things you need to know about trademark protection in the UAE

The UAE is a growing centre of commerce, leisure and travel, where more and more international companies are doing business and/or setting up their regional hubs. As the UAE increasingly looks to diversify away from an oil-based economy to a knowledge-based innovation economy, the awareness and protection of intellectual property rights are becoming of paramount importance.

Hungary implemented CDSM and SatCab Directives, most rules effective 1 June 2021

Hungary is one of the first countries in CEE to fully implement Directive 2019/790 on Copyright in the Digital Single Market (“CDSM Directive”) and Directive 2019/789 (“SatCab 2.0 Directive”). The so-called “Copyright Reform Act” (Act XXXVII of 2021) was published in the Official Gazette on 6 May 2021, and the majority of the new rules […]

Russia’s first-to-file and state-secret check requirement explained

Although international agreements harmonise the underlying principles of patenting among countries, each jurisdiction’s patent laws still have their own peculiarities, such as restricting the filing of international applications with other patent offices for national security purposes. This is why it is essential to understand the unique traits of the IP laws of the country in which an invention was created before seeking the legal protection of an invention in another country.

Changes to design rights post Brexit

The first day of 2021 signalled the end of the Brexit transition period. On this day, also known as IP completion day, a number of changes to intellectual property laws were introduced. One of the most significant adjustments is to design law.

IP round-up: Franchising in the food and drink sector

In this fourth edition of OwnershIP, Blake Morgan’s intellectual property experts look at the new dawn for UK IP following Brexit, and focus on the importance of IP in the food and drink sector.

Litigation

Newcastle United FC and the “reasonable bystander” test

Newcastle United Football Club (Newcastle) recently applied to remove the chair of the arbitration panel due to consider the Premier League’s rejection of a proposed takeover of the club. The English High Court (Court) ruled that Michael Beloff QC could continue in his role, as Newcastle’s allegation of bias did not meet the “reasonable bystander” test.

Claim for £25m dismissed due to material non-disclosure on an ex parte application

In Formal Holdings Ltd, Fihag Finanz Und Handels Aktiengesellschaft v Frankland Assets Inc and others [2021] EWHC 1415 (Comm), the High Court dismissed debt and restitutionary claims for over £25 million after finding that there had been material non-disclosure by the Claimants on an ex parte application to extend the validity of the claim form.

Misrepresentation claims: An essential update and practical advice

Misrepresentation: What businesses need to know When parties consider doing business together, a multitude of enquiries, discussions and negotiations take place before any deal is done. Marketing campaigns and promotional offers and communications have often been undertaken and information has been displayed online prior to the contemplation of any particular enquiries or leads. As part […]

Pharmaceuticals and healthcare

Brexit: The EU-UK TCA: COVID Vaccines and the “Level Playing Field”

On 24th December 2020, the UK and the EU concluded the EU-UK Trade and Cooperation Agreement (the “TCA”) on the legal relationship to apply between them when EU law ceased to apply to the UK on 31st December 2020. The 1400 page document covers of panoply of aspects of daily life for citizens, businesses and other organisations, including international trade.

Medical devices regulation – applicable from 26 May 2021

Amidst much anticipation, the Medical Devices Regulation becomes fully applicable across the EU from today, 26 May 2021. These Regulations represent a long-awaited strengthening of the European regulatory system for medical devices.

Proposed amendments to listing patents on Canada’s patent register

Recently proposed Regulations Amending the Patented Medicines (Notice of Compliance) Regulations seek to: – make patents with claims related to a different salt form of an approved medicinal ingredient eligible for inclusion on the Patent Register; and – provide a transitional provision, to give a first person a period of time to submit or resubmit a patent containing such a claim for inclusion on the Patent Register.

Jersey to permit investment in lawful cannabis related businesses

Proposals have been lodged with the Jersey legislature to amend the Proceeds of Crime (Jersey) Law 1999 expressly excluding lawful cannabis related activity from the definition of “criminal conduct”. This article is an in-depth review of the cannabis industry and Jersey’s relationship to it.

Bermuda’s Cannabis Licensing Act

On 19 February 2021, the lower house of Bermuda’s Parliament passed the Cannabis Licensing Act 2020. The legislation was, however, rejected by Bermuda’s upper house, the Senate, and sent back to the House on 3 March 2021. Bermuda’s Government has nevertheless committed to pressing forward with the legislation.

PMPRB seeks feedback on guideline monitoring and evaluation plan

The PMPRB announced a new initiative called the Guideline Monitoring and Evaluation Plan (GMEP), through which the PMPRB will seek to “monitor and evaluate trends in the pharmaceutical market that may impact patentees, as well as the consumers, patients and payers that they are mandated to protect.”

Patenting during a pandemic

Getting an innovative product to market quickly – considerations highlighted by patenting vaccines during a pandemic.

Private Client

If you have assets abroad, leave a will not a muddle for your loved ones

One of the biggest lessons that the coronavirus pandemic has taught us is to keep our affairs in order and prepare for the unexpected as few people would have predicted the sudden rise and devastating fatal effect of the pandemic on so many people including many younger individuals.

Let’s talk: developments in the private client world

In this article, Ogier partners Matthew Guthrie and Catherine Moore look at the impact the Covid-19 pandemic has had on the private wealth industry. The article first appeared in the Guernsey Press in May 2021.

Changes to the rules on Bermuda status for children

The Government of Bermuda has recently introduced changes to assist with the process of verifying and obtaining Bermuda status for children born to parents of Bermudians, to help address concerns relating to so-called ‘mixed status families’.

Public sector and local authority

Another step closer to runway extension at Southampton Airport…

Following Eastleigh Borough Council’s resolution to grant planning permission on 10 April, the Council has today issued the Decision Notice to grant planning permission for the runway extension at Southampton International Airport. This had been put on hold for the past couple of months to provide the Secretary of State time to assess the case […]

State of Calamity and State of Emergency

The state of emergency started in Portugal at 00.00 a.m. of 19 March, enacted through Decree of the President of the Republic no. 14-A/2020, of 18 March. Having been renewed twice through Decree no. 17-A/2020, of 2 April, and Decree no. 20-A/2020, of 17 April, the state of emergency was extended until 11:59 p.m. of […]

Impact on Sport sector

After the state of emergency has ended and a state of calamity has been declared, what measures are in place in the area of sports?

Ireland implements 5MLD

The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 transposes provisions of the fifth Anti-Money Laundering Directive EU/2018/843 (5MLD) into Irish law.

Private bigotry, public discipline

A group of police officers exchange off-duty, sexist, degrading, racist, antisemitic, homophobic and disability-mocking WhatsApp group chat messages, as well posting crime scene photographs of current investigations. No crime was committed. That’s a private matter, isn’t it? No. It isn’t. So held the Second Division of the Inner House of the Court of Session in BC v Chief Constable of the Police Service of Scotland Livingstone

Public procurement and government contracts in Portugal

By Paulo Pinheiro and Catarina Pinto Correia The Public Contracts Code, approved by Decree-Law 18/2008 of 29 January, as amended (PCC), is the key legislation regulating public procurement and government contracts in the Portuguese legal system. The last significant amendment to the PCC was approved by Decree-Law 111-B/2017 of 31 August 2017, which transposed Directive […]

Real Estate and Infrastructure

Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

Focus on COP26: Logistics – future proofing or obsolescence

Net zero targets now cover in excess of two thirds of global GDP and over a fifth of the world’s largest public companies, according to the latest report published by the Energy and Climate Intelligence Unit and Oxford Net Zero.

What can landlords do about restructuring plans?

Virgin Active has been in the news recently, as it has proposed restructuring plans which rely on the new legislation found in the Corporate Governance and Insolvency Act 2020.

The future of Belfast

As one of the most affordable cities in the UK, Belfast is a capital like no other – offering a quaint lifestyle with an ever-increasing diverse talent pool, the city continues to attract investors and new residents.

Climate friendly contract clauses

The Chancery Lane Project (TCLP) is a pro bono initiative that calls on the collective legal expertise of its 700+ collaborators to develop new contract clauses and model laws to fight climate change and achieve net zero carbon emissions. To date, TCLP has developed 70 model clauses and a number of model laws. We are […]

Responding to supply chain disruption in the construction sector

Supply chains in the construction sector are coming under pressure with increased price inflation and scarcity of products including roof tiles, steel joists and timber caused by a combination of factors arising out of Covid, Brexit and the March 2021 Suez Canal blockage. It is likely that the impact will continue to reverberate through supply chains at a time when construction activity is buoyant across the UK.

Tax

Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

Tech companies: three things you should know from the 2021-22 Quebec budget

The Québec Budget 2021–2022 includes measures encouraging investment to accelerate technology adoption and strengthens several tax measures aimed at the technology sector. The three key tax measures that tech businesses and entrepreneurs should know about are discussed below.

Funds & investment management update – Ireland and Luxembourg – Q1 2021

This quarter’s highlights include the commencement of the Investment Limited Partnerships (Amendment) Act 2020, a number of AML developments, the publication of performance fee guidance, a Central Bank of Ireland cross-industry guidance on outsourcing consultation, the CSSF’s publications on IT outsourcing and cloud computing, as well as a number of EU sustainable finance developments.

New residential property developer tax FAQs

The government is currently consulting on the design of the new residential property developer tax. Residential developers with profits in excess of £25 million per year could find themselves paying additional tax from next year.

EU interest limitation: impact on investment and fund structures – part two

The new EU interest limitation rules will significantly impact the tax position of asset holding companies and downstream investment structures in the EU for international investment funds. In this two-part panel session, experts from our Irish and Luxembourg Tax teams provide practical advice and guidance on how to address this significant new development.

EU interest limitation: impact on investment and fund structures | part one

The new EU interest limitation rules will significantly impact the tax position of asset holding companies and downstream investment structures in the EU for international investment funds. In this two-part panel session, experts from our Irish and Luxembourg Tax teams provide practical advice and guidance on how to address this significant new development.

Technology, Media and Telecommunications

Tech companies: three things you should know from the 2021-22 Quebec budget

The Québec Budget 2021–2022 includes measures encouraging investment to accelerate technology adoption and strengthens several tax measures aimed at the technology sector. The three key tax measures that tech businesses and entrepreneurs should know about are discussed below.

Electronic surveillance for the purpose of enforcing freedom restricting sanctions

Recently, Law no. 146/2021 regarding electronic surveillance within judicial and executional criminal proceedings was published in the Official Gazette of Romania, for the first time regulating the use of electronic monitoring devices in Romania. As a result, the Informatic System for Electronic Surveillance will be initiated and run a pilot program between March 1, 2022, and December 31, 2025.

NFTs: What about energy and climate issues?

The minting, transfer and even the sheer existence of NFTs require a lot of energy. But what is the reason for all this energy consumption and are there regulatory instruments to curb it?

Bridging the IT and data gap in post-pandemic retail

Our latest research among the UK’s top 100 retailers reveals that IT and digital capabilities are failing to keep pace with demand, and the challenges and opportunities with improving the omnichannel experience.

Misrepresentation claims: An essential update and practical advice

Misrepresentation: What businesses need to know When parties consider doing business together, a multitude of enquiries, discussions and negotiations take place before any deal is done. Marketing campaigns and promotional offers and communications have often been undertaken and information has been displayed online prior to the contemplation of any particular enquiries or leads. As part […]

Moving on up: Improving social mobility with Virtual Work Experience

Work experience is a great way to inspire young people to pursue careers in competitive industries which they may otherwise not even consider. But when work experience typically involves going into offices to see the job first-hand, what happens when no one can leave the house? With offices closed during lockdown, the pandemic has had […]

Transport (Including aviation and shipping)

Another step closer to runway extension at Southampton Airport…

Following Eastleigh Borough Council’s resolution to grant planning permission on 10 April, the Council has today issued the Decision Notice to grant planning permission for the runway extension at Southampton International Airport. This had been put on hold for the past couple of months to provide the Secretary of State time to assess the case […]

Horizon aircraft inc. Acquired in cross-border deal by astro aerospace ltd

On June 2, 2021, Astro Aerospace Ltd. (OTCQB: ASDN) (“Astro”) announced that it had closed its previously announced acquisition of Horizon Aircraft Inc. (“Horizon”), acquiring all of the issued and outstanding common shares of Horizon for five million common shares of Astro…

Cometh the hour, cometh the Musk

Whatever you might think about the man/prospective James Bond villain, Elon Musk’s words and presence carry a certain weight. It’s no surprise then that his mere ‘flying’ visit to the UK a few weeks ago stoked rumours of a potential Tesla Gigafactory in the UK. With its looming 2030 ban on ICE vehicle sales, the […]

Norway Practice Bulletin 2021

The 12 months since our last issue have been very different, to say the least, and something of a roller-coaster with second and third waves of Covid-19.

Freeports – Planning FAQs

The designation of eight new Freeports within England made headlines in the Budget and now the winning bidders have to put into effect their successful proposals. What will this mean in practice for those areas affected and what are the likely issues that Freeport authorities will face?

The role of the Marshall Islands flag in the shipping industry

The Marshall Islands retains strong links to the US under a compact of free association. Importantly, in a shipping finance context, the Marshall Islands is a contracting party to the 1961 Hague Convention Abolishing the Requirement of Legalisation for Foreign Documents and a contracting state to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention”).

Leasing electric vehicles: A smart option for fleets?

Bolstered by the government’s 10-point plan, electric vehicles (EVs) are becoming increasingly popular for both personal and business users. Read more about how electric vehicles are vying for first place in the new greener future.

Europe

Why competition law is important for business

This series aims to provide an initial guide to understand what competition law is and its importance to SMEs, the behaviours and business practices that are considered anticompetitive, their potential consequences, and practical tips to prevent these practices.

Electronic surveillance for the purpose of enforcing freedom restricting sanctions

Recently, Law no. 146/2021 regarding electronic surveillance within judicial and executional criminal proceedings was published in the Official Gazette of Romania, for the first time regulating the use of electronic monitoring devices in Romania. As a result, the Informatic System for Electronic Surveillance will be initiated and run a pilot program between March 1, 2022, and December 31, 2025.

International briefings

Marketing Intelligence Report: Data and analytics trends to drive future growth

This report evaluates how marketers are navigating the transformation to a “digital first” world, with a focus on how they are integrating and analyzing marketing performance data from all of the touchpoints needed to reach today’s digital first customers — all while maximizing marketing-led growth.

Moving on up: Improving social mobility with Virtual Work Experience

Work experience is a great way to inspire young people to pursue careers in competitive industries which they may otherwise not even consider. But when work experience typically involves going into offices to see the job first-hand, what happens when no one can leave the house? With offices closed during lockdown, the pandemic has had […]

Product liability: Quebec law may apply to you without you knowing it

It may come as no surprise that laws in Quebec favour consumers, purchasers and victims in product liability claims. Therefore, manufacturers and professional sellers (such as distributors, wholesalers and retailers) will tend to look to a law outside Quebec to govern their relations. As the title of this article suggests, a manufacturer or professional seller […]

Sports Update – End of season round-up

Hot topics for football clubs ahead of the summer transfer window and the 2021/22 season ‘With the 2020/21 season now finished and the transfer window about to open, there are plenty of legal issues for clubs to consider. Our specialist Sports Team has provided an end of season round-up of the big issues that clubs […]

Unstainable Hydrogen: Green and blue and the EU/UK policy overview

Hydrogen has received renewed attention recently as a fundamental part of the global energy transition. According to the Hydrogen Council, more than 30 countries had a hydrogen strategy at the start of 2021 and governments across the globe have already committed more than US$70 billion in public funding for hydrogen projects.[1] Europe (including the UK) […]

A practical cross-border insight into restructuring and insolvency law

The detailed content of year’s edition is very different from years gone by, primarily as a consequence of the government reactions to the consequences of COVID-19, and I expect that there will be yet more change to reflect in the chapters of this Guide in the years to come. A lot of what we have seen in the past year could be described as ‘crisis management’.

The clock is now ticking on EU Settlement Scheme applications – what do employers need to know?

When free movement ended for EEA and Swiss (“EEA”) nationals at the end of the Brexit transition period on 31 December 2020, EEA citizens who had entered the UK by this date were given a 6 month “grace period” until 30 June 2021 to secure their longer term residency rights by making an application under the EU Settlement Scheme (“EUSS”). The end of the grace period is now less than a month away and, not surprisingly, many employers are wondering what they can do to ensure their EEA workers continue to have the legal right to work in the UK beyond that date. In this article, we seek to address some of the common concerns and provide some practical tips on the steps employers can take in the final few weeks to protect against the risks associated with employing illegal workers.

Cometh the hour, cometh the Musk

Whatever you might think about the man/prospective James Bond villain, Elon Musk’s words and presence carry a certain weight. It’s no surprise then that his mere ‘flying’ visit to the UK a few weeks ago stoked rumours of a potential Tesla Gigafactory in the UK. With its looming 2030 ban on ICE vehicle sales, the […]

US & the Americas

Tech companies: three things you should know from the 2021-22 Quebec budget

The Québec Budget 2021–2022 includes measures encouraging investment to accelerate technology adoption and strengthens several tax measures aimed at the technology sector. The three key tax measures that tech businesses and entrepreneurs should know about are discussed below.

What’s new with strata wind-ups?

A strata wind-up is an excellent way to realize the economic potential of a multi-unit residential property (the “strata”) by leveraging the value of each unit in the strata as a whole to a developer that may want to re-develop on the strata’s property. This article summarizes the onset and development of this emerging sector in light of recent case law and current events.

Product liability: Quebec law may apply to you without you knowing it

It may come as no surprise that laws in Quebec favour consumers, purchasers and victims in product liability claims. Therefore, manufacturers and professional sellers (such as distributors, wholesalers and retailers) will tend to look to a law outside Quebec to govern their relations. As the title of this article suggests, a manufacturer or professional seller […]

Horizon aircraft inc. Acquired in cross-border deal by astro aerospace ltd

On June 2, 2021, Astro Aerospace Ltd. (OTCQB: ASDN) (“Astro”) announced that it had closed its previously announced acquisition of Horizon Aircraft Inc. (“Horizon”), acquiring all of the issued and outstanding common shares of Horizon for five million common shares of Astro…

Big Tech Regulation: The Battle moves to Florida

The battle around Big Tech regulation has moved to the Sunshine State following the signing of new legislation by Florida Governor Ron DeSantis. The legislation allows for huge fines to be levied and legal action to be brought against Big Tech companies which seek to moderate user content and permanently shutter accounts. Mr DeSantis believes […]

The role of a special committee

In our first webinar in the series, we focused on special committees and the role they play within an organization. Calgary partner Greg Peterson led a panel discussion to address a number of issues facing Canadian company C-levels, including:…

Proposed amendments to listing patents on Canada’s patent register

Recently proposed Regulations Amending the Patented Medicines (Notice of Compliance) Regulations seek to: – make patents with claims related to a different salt form of an approved medicinal ingredient eligible for inclusion on the Patent Register; and – provide a transitional provision, to give a first person a period of time to submit or resubmit a patent containing such a claim for inclusion on the Patent Register.

Offshore

Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

Offshore SPACs explained and the benefits

The resurgence of special purpose acquisition companies (SPACs) as an alternative to traditional IPOs was one of the major talking points of 2020. SPACs have become attractive propositions for investors, venture capital firms and private equity funds looking to efficiently deploy capital quickly and enhance their portfolios in an era of low interest rates and market volatility.

Trustee knowledge series: Advanced paper one: adding and excluding beneficiaries

Offshore trusts often include provision for the addition, appointment and removal of beneficiaries, to provide flexibility for the future and to “arm the trustees with a weapon which will enable them to consider all developments and respond to all future mishaps and disasters”. Without the benefit of a crystal ball, settlors cannot predict if a change in future circumstances may mean certain persons either need to be added to the class of beneficiaries or removed from the existing class. This paper is intended to give an overview of the relevant powers of addition and removal to be taken into account before exercising the powers and some of the common issues that may arise in relation to exercising the powers.

Court dismisses flawed restrictive covenants – why Jersey and Guernsey employers should review contracts

One of the trends we are seeing increasingly in the Channel Islands is senior employees moving to join competitors, and employers therefore looking to rely on and enforce restrictive covenants. With businesses facing a competitive market to attract and retain experienced senior employees, it is more important than ever to ensure that they are taking proper steps to protect themselves from legal and financial risk if key employees leave to join a rival.

STEP Geneva Webinar – Beneficial Ownership Registers

Partners Simon Schilder and Dave Sherwin along with Counsel Katherine Neal and Managing Associate Chris Hards will speak on the STEP Geneva Webinar Series for 2021. See the below link to find out what the presentation on Beneficial Ownership Registers covers:….

Recent trends: provisional liquidation in the Cayman Islands

Introduction There are two grounds on which provisional liquidators (PLs) may be appointed in the Cayman Islands under the Companies Act (2021 Revision) (the Companies Act), following the presentation of a winding up petition and before the making of a winding up order. The first is what is commonly referred to as a “full powers” […]

Virtual currency in Bermuda

In 2015, my colleague wrote a Legally Speaking column about virtual currencies in Bermuda, outlining how we were starting to hear about and experience them. The conversation focused more on the nature of virtual currencies, i.e. an asset without a physical form, and less on how virtual currencies could be integrated into Bermuda. The column […]

Asia

2021 – a Jekyll and Hyde year for SPACs

SPACs were the darling of Q1 2021 with 298 SPACs raising a total of USD88 billion, exceeding the USD76 billion raised in the whole of 2020 and representing a 2,200% increase year on year versus Q1 2020. In comparison, since 1 April 2021 only 20 SPACs have priced with commentators now questioning the market for SPACs. In this article we offer our views on why this has happened and look ahead to the future for SPACs and what may happen next.

The Matrix Law Pod: India

Matrix Law Pod returns to India to speak with Colin Gonsalves, a prominent human rights lawyer, focusing not only on the emergency on the ground but the impact on the rule of law.

The role of the Marshall Islands flag in the shipping industry

The Marshall Islands retains strong links to the US under a compact of free association. Importantly, in a shipping finance context, the Marshall Islands is a contracting party to the 1961 Hague Convention Abolishing the Requirement of Legalisation for Foreign Documents and a contracting state to the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (the “New York Convention”).

An Introduction to wills & estates in Australia & New Zealand

CONTENTS 1. WHAT IS A WILL? 2. WHAT MAKES A WILL VALID IN AUSTRALIA OR NEW ZEALAND? 3. WHO CAN BE APPOINTED AS AN EXECUTOR OF A WILL? 4. CAN A BENEFICIARY BE AN EXECUTOR? 5. HOW MANY EXECUTORS CAN BE APPOINTED? 6. WHAT IS A TESTAMENTARY TRUST? 7. WHAT IS AN ENDURING POWER OF […]

Africa & Middle East

Five things you need to know about trademark protection in the UAE

The UAE is a growing centre of commerce, leisure and travel, where more and more international companies are doing business and/or setting up their regional hubs. As the UAE increasingly looks to diversify away from an oil-based economy to a knowledge-based innovation economy, the awareness and protection of intellectual property rights are becoming of paramount importance.

New insolvency regime in Angola

The new law of the legal framework for corporate restructuring and insolvency has been published and has entered into force.