The Lawyer Briefings

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

Litigation

What’s that got to do with the price of fish?

By Claire Morrissey, Stephen Johnstone Well, the answer is quite a bit if you are Azzuri Restaurants Limited (the company which trades as ASK Italian) which pleaded guilty to one breach of section 15 of the Food Safety Act 1990 (the “Act”) and has, this week, been sentenced to a fine of £40,000. Section 15 […]

Mitigating risks in international franchising

By Pauline Cowie Whichever route to international franchising is chosen, be it a direct, master or area development franchise, having made a decision to franchise internationally, it is important to ensure that steps are taken to maximise success. Whether in a particular jurisdiction or more generally, undertaking adequate due diligence as well as considering structure […]

Court of Appeal for Bermuda clarifies test for leave to appeal to the Privy Council

Although an appeal to the Judicial Committee of the Privy Council lies as of right for money judgments in excess of $12,000, leave to appeal from decisions of the Court of Appeal for Bermuda involving non-monetary claims (for example, claims for declaratory or injunctive relief) are at the discretion of the Court. Bermuda law provides […]

Public procurement challenges require strict and swift approach

By Gwendoline Davies, Lynsey Oakdene Why is Royal Cornwall Hospitals v Cornwall Council of interest? Earlier this year we published an update on public procurement challenges, which highlighted key lessons arising from the Kenson Contractors and Amey cases. Another recent case emphasises the need for any disappointed or unsuccessful bidder to assess their options and, […]

Airbnb boom – Short stay visitor accommodation and planning considerations

By Will Thomas, Fraser Mitchell A recent planning appeal decision in Scotland (Reference: ENA-230-2164 – 5/6 Castle Wynd South, Edinburgh) is the latest in a line of cases concerning enforcement action taken by local authorities against dwellings being used as short stay visitor accommodation. Although a Scottish decision, its facts and findings are also of […]

2020 Predictions: Employment law changes on the horizon

By Rachel Mulvany, Jonathan Naylor Looking ahead, we look at some of the more significant legislative changes coming into force this April as well as some key cases due to be heard this coming year. Statutory Changes There are some key pieces of legislation which are due to come into force as of 6 April […]

Court flags ‘misleading’ planning report

By Katherine Evans The Court has held that a decision to grant planning permission for a single dwelling on land in a Conservation Area was unlawful. The Officer’s Report failed to specify two policies in the Development Plan that were directly relevant to the application. The report was therefore held to be materially misleading when […]

International

Mitigating risks in international franchising

By Pauline Cowie Whichever route to international franchising is chosen, be it a direct, master or area development franchise, having made a decision to franchise internationally, it is important to ensure that steps are taken to maximise success. Whether in a particular jurisdiction or more generally, undertaking adequate due diligence as well as considering structure […]

Incoterms 2020 – What is new?

By Andrea Haefeli With an effective date of 1 January 2020, the International Chamber of Commerce (ICC) has released the ninth version of the Incoterms® rules, the most important trade terms for the delivery of goods worldwide. This newsletter provides a short introduction to the Incoterms® rules and highlights the structural and substantive changes between […]

How to improve productivity at work in 2020 (and some tools to help)

By Chris Shenton Employee productivity is the measurable output of employees in any given organisation. This measurement can be very quantitatively captured, through recording time and costs to stack up against results, or a business can approach it in a more general, quantifiable way. Productivity is, unsurprisingly, often see as something of a ‘holy grail’ […]

8 tips to thrive in the evolving legal landscape

By Bethany Runyon There is no question that technology has changed the way lawyers work, shaped how law firms operate and affected organizational culture. The business of law is more complex and competitive than ever, and it will only continue to evolve as alternative service providers gain ground, pricing structures change and client expectations shift. […]

How to use AI to scale knowledge management

By Melissa Wiedeman Over the last decade, technology has transformed knowledge management within the legal industry. But even through this digital evolution, the goal of the knowledge management function remains the same. One of the most succinct statements of this goal is from Google saying that the aim of knowledge management is “…to organize the […]

Financing for electric vehicles – Adapting finance in a new world

By Stephen Dawson, Gemma Napper, Dan Bennett As demand for electric vehicles (EVs) starts to rise with even electric aeroplanes being trialled, the finance providers, be that the captive or non-captive finance houses, need to develop a controlled and compliant approach to providing the correct type of financing (at competitive rates) to consumers. Historically the […]

How legal data analytics benefit all types of legal practices

By Sophie Baugh No matter where you work, the practice of law is no longer just about the law—it’s also about competing as a business, whether that’s in a corporate setting or at a law firm. To win cases, justify your department’s budget, and attract more business, lawyers must bring both legal acumen and a […]

Client feedback—Using past experiences to create better futures

By Sarah Leicester What’s more valuable than your clients? Your current business—not to mention your future reputation—relies on whether they’re satisfied with your services or quietly researching other options. So, if you’re blindly guessing at what they need, what they appreciate, and what they can’t stand about your practice, why aren’t you asking them Here’s […]

Accelerating Business – Episode 1

The rise of digital technology has brought upon massive cultural change in our world today. In order to keep up, companies are seeking out new innovative ways and ideas to stay ahead. Managing Partner, Lou Frapporti, is joined by Chief Digital & Innovation Officer at WestJet, Alfredo Tan, to discuss how the culture of innovation […]

Banking and finance

Ireland update – Investment Limited Partnerships Reform

Following on from our July 2019 article and our 20 September 2019 update on the Investment Limited Partnerships (Amendment) Bill 2019 (the “Bill”), consideration of the Bill at Committee Stage in Dáil Éireann (the “Dáil” (lower house of the Irish Parliament)) is complete with no amendments being made. It is intended that the Bill will […]

New regulations focus on sustainability in the financial services sector (Part 1 – Disclosures regulation)

Work has been continuing at a steady pace in Europe to implement the package of measures set out in the European Commission’s action plan on sustainable finance. Sustainable finance involves taking sustainability considerations into account as part of the financial decision making process. Two of the proposals set out in the action plan on sustainable […]

Cayman Islands Corporate law as a tool for innovative CLO warehouse structuring

The Cayman Islands is well known to be the jurisdiction of choice for structured finance transactions due to its robust legislation and judicial framework, its creditor friendly nature, its familiarity to market participants (in particular, rating agencies), and the list goes on. What is less obvious, and arguably more intriguing, is the increased reliance on […]

The end of LIBOR: Legal and regulatory challenges for mortgage lenders

By Robin Penfold It is estimated that there are currently around 200,000 LIBOR-linked residential and buy-to-let mortgages in the UK. LIBOR is deeply embedded in business practices in the mortgage market, particularly in the specialist lending sector, and understandably there is a great deal of uncertainty to be addressed before many mortgage lenders will feel […]

Busy lenders’ monthly round-up – January 2020

By Deborah Sheldon Each month we summarise the latest news and developments in retail mortgage lending and regulation This month in summary: News End of LIBOR: update Deloitte predicts ‘Japanification’ of banking in 2020s Credit rating agency downgrades outlook of UK banking system Open Finance opportunities in Financial Services Robo advice FCA extends Senior Managers […]

Channel Islands funds quarterly update: Q4 2019

1 Developments in the Channel Islands 1.1 Economic Substance On 18 October 2019, the Taxation (Companies – Economic Substance) (Amendment) (Jersey) Law 2019 was registered in the Royal Court and came into force from 1 January 2019. The law amends the Taxation (Companies – Economic Substance) (Jersey) Law 2019, which makes provision for imposing an […]

Jersey Dormant Bank Accounts Law – Update

By Matthew Shaxson Introduction Since 17 July 2017, Banks have been able to close dormant bank accounts by depositing the account balance into a central fund, the Jersey Reclaim Fund. Any money that is not reclaimed from the fund will be used for charitable and social purposes. The Dormant Bank Accounts (Jersey) Law 2017 (the […]

Major Kazakhstan legislation changes that happened in 2019

By Marina Kahiani, Dinara Otegen, Dilbar Kassymova, Sabina Rysbekova Legislative Novelties In Kazakhstan in 2019: In 2019, the process of making important amendments to the legislation of Kazakhstan, including banking and financial laws, continued. The financial regulator (the National Bank of the Republic of Kazakhstan) was reorganised by spin-off of a new body which would […]

Company and commercial

Article on the Communiqué on the principles regarding the elimination of privileges and the right to vote and representation in the Board of Directors (II-28.1)

By Gülenay Kavcar The subject of this article is about the elimination of privileges regarding the voting rights and representation in the board of directors in public partnerships, which were published in the Official Gazette dated 10.01.2020 and numbered 31004 and entered into force after being issued in compliance with the legislation for a period […]

Parliament eases procedure for setting up new companies: Romania

By Vlad Săndulescu Introduction A series of minor yet impactful amendments will shortly be introduced to the Companies Law, making it easier for investors and entrepreneurs to set up a new company. Parliament adopted the amendments in order to reduce the red tape surrounding company incorporation and encourage investment in the Romanian economy. The World […]

STARs, SPACs and IPOs – A guide to Cayman Islands Star Trusts and Special Purpose Acquisition Companies

By Robert Lindley, Peter Ch’ng, Matthew Stocker, Wesley O’Brien What are Special Purpose Acquisition Companies? Special purpose acquisition companies (SPACs) are enjoying something of a renaissance. Unlike the traditional private equity model, SPACs raise funds through an initial public offering (IPO) with the proceeds subsequently being invested in the acquisition of, or merger into, certain […]

(Jersey) The International Stock Exchange Authority – Listing debt securities including Eurobonds under Chapter 5 of the listing rules

Introduction This is a summary of the main listing requirements and the listing application process for companies seeking admission to the Official List of The International Stock Exchange Authority Limited (“TISEA”). This Memorandum is intended as an overview of the subject matter and should be used as a starting point for a more detailed and […]

Overview of Bermuda economic substance requirements

Legislation requiring a “relevant entity” conducting “relevant activity” to report and maintain economic substance has been introduced in Bermuda. The Economic Substance Act (2018) (the “ES Act”) came into force on 31 December 2018 and was amended by the Economic Substance Amendment Act on 28 June 2019 and by the Economic Substance Amendment (No. 2) […]

Bermuda economic substance update – Key amendments enacted

Following continued discussions with the EU’s Code of Conduct Group and the OECD, Bermuda has passed amendments to its economic substance laws to more closely align Bermuda’s regime to that of other 2.2 jurisdictions. The Economic Substance Amendment (No. 2) Act 2019 and the Economic Substance Amendment (No. 3) Regulations 2019 came into force on […]

Guernsey’s economic substance requirements – Application to the funds industry

By Chris Hutley-Hurst Like other offshore jurisdictions, Guernsey has implemented legislative economic substance requirements, which came into force on 1 January 2019, to meet a commitment to address concerns raised by the EU Code of Conduct Group on Business Taxation that Guernsey’s corporate tax system could facilitate offshore structures aimed at attracting profits which do […]

Guernsey’s new economic substance requirements – Application to the insurance industry

By Christopher Anderson This briefing note focuses on the application of Guernsey’s economic substance requirements to the insurance industry, taking into account the latest developments in guidance and legislation, and covering: what is in scope; in-scope companies; CIGAs; outsourcing; adequate physical presence; written resolutions; compliance and monitoring; anti-avoidance; and practical steps towards compliance. BACKGROUND Like […]

Intellectual Property

China’s new trademark laws

By Vivian Desmonts, Jamie Rowlands The fourth revision of the Trademark Law of the People’s Republic of China (PRC) came into effect on 1st November 2019. It is yet another example of the shifting landscape of intellectual property protection in China. The amendments were made in line with the International Trademark Authority’s recommendations to combat […]

Vavilov : Changes To administrative law in Canada

By James Green In late December, the Supreme Court released its decision in Canada (Minister of Citizenship and Immigration) v Vavilov, 2019 SCC 65. Quite apart from the colourful facts of the case (involving the citizenship of children of Russian spies born in Canada whose family was apparently the inspiration for the television series “The […]

The tenderness of the 40: Powers of the authorities in counter-national cases

By Sofia Ribeiro Branco If the protected good is weaker, then such strong and intrusive means of proof and proof cannot be used. In 1982 the General Regime of Infringements was published containing the substantive and procedural principles of violations of rules in the field of economics, health, culture or the environment, providing for a […]

When can the English court protect its jurisdiction and judgments?

SAS Institute Inc v World Programming Ltd (No. 2 – Injunction) [2019] EWHC 2481 (Comm) Cockerill J has recently given important further judgments in the unusual litigation between the large US business software company SAS Institute and its English competitor WPL. This note focuses on her judgments relating to anti-suit injunctions, which raise questions as […]

Guide to lending and taking security in Scotland

By Douglas Gourlay Overview of the lending market Question 1 What have been the main trends and important developments in the lending market in your jurisdiction in the last 12 months? Deal activity has proven to be reasonably resilient in the face of continuing political and economic uncertainty.  Some sectors, most notably retail, continue to […]

FTO assessments: What rights holders need to consider

By Olga Vukolova Patent rights are vigorously protected in Russia – it is therefore advisable that those interested in commercialising a product or process perform vital risk-management analysis in order to gauge their freedom to operate (FTO). An FTO assessment is an inquiry into whether marketing a product or applying a process infringes patents in […]

Ontario government announces changes to retail cannabis market

By Peter Simeon, Adam Sherman The Ontario government has announced significant changes to the retail cannabis market. Those changes include the elimination of the previous lottery based system for retail store operator licences, and a loosening of restrictions on the ownership and operation of retail stores. Gowling WLG Focus The objective of the amended Ontario […]

The patent litigation law review

By António Andrade, Marta Alves Vieira Although patent litigators should always be mindful that patent litigation has, with some justification, been called the ‘pathology of the patent system’, not so much as a criticism, but more in recognition of how remarkably little patent litigation there is, in fact, when seen in relation to the ever […]

Competition and EU

Bulgarian watchdog introduces simplified and more extensive merger filing in new merger filing guidelines: Bulgaria

By Galina Petkova From 1 January 2020, the Bulgarian Commission for the Protection of Competition (the “CPC”) has been applying new merger filing guidelines (the “Guidelines”). The former guidelines, applied for more than ten years, did not differentiate between transactions (simpler or more complex) irrespectively of their potential competition concerns. This unified approach was unnecessarily […]

Prestigious golf club ordered to reinstate member

Cawood v Sedgwick and others (Sunningdale Golf Club) Following a three day trial, HHJ Saunders, sitting in the County Court at Central London, held that the defendant golf club should be ordered to reinstate the Claimant’s overseas membership. Mr Cawood had been an overseas member of Sunningdale Golf Club (an unincorporated association) since about 1997. […]

Turkish Competition Authority publishes 2019 merger control overview

By Bulut Girgin, Ceren Ceyhan The Turkish Competition Authority (“TCA”) has published its Report on the Review of Mergers and Acquisitions for 2019 (“Report”). The Report provides general information on M&A transactions in Turkey in 2019 as well as brief statistical information on merger control filings. Below is a summary of the Report’s main findings: […]

Changes to the list of WTO exemptions

The Eurasian Economic Commission adopted a decision No. 109 dated 19 December 2019[1]. This decision expands the list of goods in which respect Kazakhstan, as a condition for its WTO accession, applies the rates of import customs duties which are lower than the rates of customs duties under the Common customs tariff of the EAEU. […]

Rising focus on HCA settlement proceedings – case law round-up: Hungary

By Anna Turi, Márk Kovács Since 1 July 2014, companies have been able to initiate settlement proceedings with the Hungarian Competition Authority (HCA). Recent case law suggests that the HCA has aimed to foster cooperation between itself and market participants and is striving for cooperation even when market participants allegedly commit grave infringements of competition […]

Information on the amendments to the communiqué on decision 32

By Gülenay Kavcar Dear Clients and Business Partners; With this Information Note, the Communiqué on the Protection of the Value of the Turkish Lira, which was published in the Official Gazette dated 31.12.2019 and repeated in the Official Gazette No. 30995 (About Export Costs) (Communiqué No: 2018-32 / 48) (No The amendments made within the […]

Slovenian Competition Protection Agency seizes Agrokor’s shares in Mercator

By Veljko Smiljanić, Stefan Savić In late 2019, the Slovenian Competition Protection Agency (the “Agency”) shocked the local business community by announcing that it has temporarily seized the Croatian conglomerate Agrokor’s shares in Slovenia’s largest retailer Mercator d.d., worth an estimated EUR 140 million, for the purpose of securing the enforcement of a previously-imposed fine. The fine […]

Competition authority imposes landmark fine under leniency programme

The Commission for the Protection of Competition has published its first leniency decision in a cartel case, following a report by one of the cartel participants. Konica Minolta distributors and dealers had engaged in collusive tendering in procurement procedures for acquiring office equipment and providing office machine repair and maintenance services in Serbia. This is […]

Corporate

The value of a Corporate Service Provider

By Tracey Spevack With increasing demand from regulators and investors for the highest standards of corporate governance and stringent compliance with a growing list of complex regulations, more and more businesses are turning to professional corporate service providers for expert help. Recent years have seen significantly increased regulatory requirements and obligations placed on businesses in […]

Offshore: Navigating change and charting the course for the future

By Sophia Greaves Despite the present challenges faced by all international financial centres, in particular global volatility in financial services and demands for greater regulation, Bermuda’s perennial resilience and ability to adapt to market demands will continue to ensure that the Island maintains its status as a premier international business jurisdiction. There is no denying […]

Prosecution or DPA? What is the real cost of cooperation?

By John Hartley, Hannah Howard Does the £15m fine imposed following a 10-year investigation into Alstom Network UK’s dishonestly won 79.9m Euro contract really incentivise companies to play safe and pursue a Deferred Prosecution Agreement (DPA)? DPAs – Purpose and Benefits DPAs were introduced in 2014, and can be used for fraud, bribery and other […]

Receiverships

Introduction Writing an article on receiverships for a business audience is not easy. Most in business will have come across a “Receiver” of one form or other, probably put the file on the “too difficult – write off pile” and moved on. For most situations this is not a bad decision but knowing a bit […]

Important amendments to Bermuda’s economic substance legislation

By Neil Henderson, Anthony D. Whaley, Graham B.R. Collis, Marcello Ausenda On 24 December 2019, both the Economic Substance Amendment (No.2) Act 2019 and the Economic Substance Amendment (No.3) Regulations 2019 (the Amendment Legislation) came into force. The Amendment Legislation makes key changes to Bermuda’s economic substance regime, principally to harmonise the legislation with the […]

Technology-based reverberations: The impact on new investments and exits in Canadian private equity

Earlier this year, our private equity team identified the technology sector to be an area gaining increasing momentum throughout 2019 for both Canadian and international investors. In August, we assisted McRock Capital in its $80 million initial closing of its second venture capital fund, dedicated solely to investing in the global trend around the Industrial […]

To code or not to code? A question for large companies

By Sian Sadler As we approach the end of 2019, we look back on the requirement introduced by the Companies (Miscellaneous Reporting) Regulations 2018 (Regulations) for very large private companies to make a statement about their corporate governance arrangements. This statement relates to financial years beginning on or after 1 January 2019 and as we […]

In-house

Newsflash: Law Commission proposals for calculating leasehold enfranchisement premiums

By Karl Anders, Zoe McLean-Wells Leasehold enfranchisement is the process by which qualifying long leaseholders may extend their lease or buy the freehold of their property. In order to exercise enfranchisement rights, leaseholders must pay a premium to their landlord. Following its recent wide-ranging consultation on leasehold enfranchisement reform (explained in our earlier briefing), the […]

Managing your data risk with data minimisation: When less is more

By Rachel Whalebone Every day a million people join the internet for the first time. This means more data. More data means more risk in storing it. Minimise your risk by only using what you need and be a bit greener at the same time. Data is now big and getting bigger. It’s not as […]

A new framework for Cayman’s regulatory regime for investment funds

By Joanne Huckle As the drive to act on EU and international recommendations continues to gather pace, the Cayman Islands Government began the New Year with their much-anticipated move to introduce new requirements for the registration of unregulated investment funds. The publication of the draft Private Funds Bill, 2020 (the Bill) and a draft amendment […]

BVI funds regulatory update

By Simon Schilder, Tim Clipstone The BVI has recently released several important regulatory amendments to its financial services legislation which are applicable to BVI funds and their advisors. This update summarises the key changes. Valuation of fund property Each of the Mutual Funds Regulations, 2010 (the Mutual Funds Regulations) and Securities and Investment Business (Incubator […]

Weekly10 Top 10: How to boost employee engagement in 2020 (and beyond)

By Chris Shenton ‘How to improve employee engagement’ is arguably the HR conundrum of the 2010’s, or certainly the latter half. It has been the focus of many a research report, seminar, Op-ed or blog (such as this one I prepared earlier!). And no wonder with its strong correlation to a host of business metrics […]

Amendments and additions to the tax code of the Republic of Uzbekistan

In the light of the adoption of the Law “On introduction of amendments and additions to the Tax Code of the Republic of Uzbekistan” No. ZRU-599 dated 30 December, 2019, a new edition of the Tax Code was adopted. The significant amendments are the following: 1. The types of taxes have been reduced to 9 […]

Regulation of the pharmaceutical industry in Uzbekistan

By Dilorom Yuldasheva, Parvina Bashirova, Parvina Bashirova Currently, the pharmaceutical industry in Uzbekistan is experiencing a modification of regulatory requirements. In recent years, the country has achieved positive results in the formation and development of the primary health care system for population. It is important to note that the network of republican specialized scientific and […]

Employment

2020 Accessibility To-Do List (Ontario)

By Anne Lemay As 2020 begins, we are already looking forward to the end of the year and to 2021. There are two key deadlines coming up under the Accessibility for Ontarians with Disabilities Act (“AODA”): December 31, 2020: the deadline for organizations with 20 or more employees in Ontario to file an Accessibility Compliance […]

Government consultations relevant to food & drink sector

By Richard Naish Consultation on a new sick pay scheme The government recently consulted on a range of measures to reduce ill health-related job losses. The consultation closed on 7 October 2019, if introduced, the key proposals contained in the consultation include the following. These could have a practical impact on employers in the food […]

Bermuda amends National pension scheme – Update

By Stephanie C. Bernard Following our alert of 30 December on recent amendments to the National Pension Scheme, there are two updates: the National Pension Scheme (Occupational Pensions) Amendment Act 2019 (No. 2) Commencement Notice 2019 (the “No. 2 Notice”) and the National Pension Scheme (Occupational Pensions) Temporary Amendment Act 2019 (the “Temporary Act”). The […]

GDPR: Data subject access requests

Under Article 15 of the GDPR, individuals have the right to make a data subject access request (“DSAR”). While an individual has had the right to access data held about them for many years, the development of digital technology has led to a massive expansion in the nature and quantity of data processed making responding […]

IR35 private sector reform: Review announced but 6 April 2020 target date unchanged

By Zoe Fatchen, Connie Cliff The existing public sector restrictions and rules on off-payroll working (IR35) will be extended to medium and large private sector employers from 6th April 2020. Under the controversial change, instead of the contractor having responsibility for determining their employment status for tax purposes, the client or hirer will need to […]

The loan charge – Finally some good news for tax payers

By Katherine Neal Any trust company or corporate service provider offering employee incentive solutions will have spent the last few years heavily involved in dealing with the “Loan Charge” that was introduced by the UK Finance Act 2016. This was brought into legislation as an anti-avoidance measure to tackle what were seen as “disguised remuneration […]

Could a four-day week ever work for law firms?

By Jack Binns Four day work weeks, and three day weekends. These are terms spoken of in hushed whispers by office workers the world over. Meanwhile, managers fret about cutting business hours for no obvious immediate gain. During the election, Labour’s tantalising promise was the subject of heated debate and tabloid derision. Many have labelled […]

Case law update: Whistleblowing

By Amy Anderson, Michael Briggs Can a dismissal be found to be unfair on the basis that it is because of a whistleblowing disclosure which the disciplining officer didn’t know about? Surprisingly yes! The recent case of Jhuti v Royal Mail Limited is an interesting one about whistleblowing and the reasons for dismissal. Here’s what […]

Energy and environment

Renewable energy in Kazakhstan – What to expect?

By Shaimerden Chikanayev Kazakhstan, at least on the surface, seems to have a strong political will to attract investments in renewable energy projects as demonstrated by its official general policy. The government of Kazakhstan, for instance, made an official commitment to increase the share of renewable energy in domestic electricity generation from the current 2% […]

Spotlight on Uzbekistan: Kinstellar’s regular look at the Uzbek market

By Joel Benjamin, Muborak Kambarova Law “On Investments and Investments Activities” On December 11th the President Mirziyoyev signed the law “On Investments and Investment Activities” (the “Law”). The Law consolidated, inter alia, a number of legislative acts including the law “On Foreign Investments”, the law “On Guarantees and Measures of Protection of the Rights of […]

The Environment Agency’s 2020 enforcement priorities and your business

By Jo Sear, CJ Ntsiu Environmental regulation will be high on many business agendas in 2020; so what is the approach to enforcement likely to be? The Environment Agency (EA) recently released a report titled ‘Regulating for People, the Environment and Growth 2018’ which details how it sought to tackle various environmental issues during 2018. […]

The European Green Deal – A clear vision for EU climate change action?

By Ben Stansfield EU has set out its plans for transforming into a sustainable economy ‘by turning climate and environmental challenges into opportunities across all policy areas’ in the European Green Deal. Ben Stansfield, partner at Gowling WLG, examines the key proposals of the green deal and offers his thoughts on what practitioners should keep […]

Nitrate pollution solutions

By Anna Cartledge, Angus Evers Planning authority lifts moratorium on determining planning applications after adopting a nitrate ‘credit’ system. Portsmouth City Council (PCC) has lifted its moratorium on determining planning applications for housebuilding after adopting a nitrate credit system. The end of the moratorium will allow residential development to come forward in Portsmouth and provide […]

Social Housing monthly law update – December 2019

By David Isaacson TLT’s monthly law update on all things affecting social housing To help you keep up with the law and comply with registered provider standards, this monthly law update covers the current legal issues affecting the social housing sector. It includes the main legislative and case law developments and statutory guidance issued for […]

Northern Ireland environmental strategy consultation: Last chance to have your say

By Andrew Ryan Time is rapidly running out to respond to the consultation on Northern Ireland’s proposed Environmental Strategy. Consultation responses are due by Monday 23 December 2019 so these last few days are crucial in order to contribute to what will be Northern Ireland’s first wide-ranging environment strategy. The first ever environment strategy for […]

Funds

The Cayman Islands Private Funds Bill, 2020 – Are fund finance deals impacted?

By Derek Stenson, Michael O’Connor On January 8, 2020 the Cayman Islands Government published the Private Funds Bill, 2020 (the “Bill”). The Bill builds upon the reputation of the Cayman Islands as a co-operative and transparent jurisdiction and introduces for the first time a requirement for private funds to register with the financial regulator in […]

Introduction of registration regime for closed-ended funds

On 8 January 2020, the Private Funds Bill, 2020 was published (the “Bill”). We expect the Bill will become law by the end of January 2020. While the timetable for implementation of the Bill and certain other key questions are still to be confirmed, this advisory summarises its key features and its likely impact on […]

Cayman: Introduction of registration regime for closed-ended funds summary

The New Year heralds the introduction in the Cayman Islands of the registration and regulation of closed-ended funds. As the jurisdiction of choice for the establishment of such funds outside of the US, the Cayman Islands remains at the forefront of legal and regulatory developments in this area. We expect fund sponsors, investors and regulators […]

Cayman Islands: Withdrawal of fifteen investor exemption

On 8 January 2020, the Mutual Funds (Amendment) Bill, 2020 was published (the “Bill”). We expect the Bill will become law by the end of January 2020. The Bill amends the Mutual Funds Law to remove the ‘fifteen investor exemption’, which permits funds with fifteen or fewer investors to avoid registration as a mutual fund, […]

Luxembourg – Cayman parallel fund structures brochure

The Luxembourg-Cayman parallel fund structure is increasingly a preferred product for sophisticated managers seeking to access European, US and Asian capital. Parallel funds co-invest and divest alongside the main fund, usually on a pro-rata basis per their commitments, so a manager has two funds side by side which invest and divest at the same time […]

New registration requirements for unregulated investment funds

On 8 January 2020, the Cayman Islands Government published a draft Private Funds Bill, 2020 (the Bill) and a draft amendment to the Mutual Funds Law (2019 Revision) (MFL Amendment). The proposed legislation is a result of certain EU and other international recommendations and has been developed to align the Cayman Islands investment fund regulatory […]

The Private Funds Bill 2020 and Mutual Funds (Amendment) Bill 2020

By Maree Martin On 8 January, after a period of industry consultation, the Cayman Islands Government issued the Private Funds Bill 2020 (the “Private Funds Bill”) and the Mutual Funds (Amendment) Bill 2020 (the “Mutual Funds Bill” and together with the Private Funds Bill, the “Bills”). The Bills are not yet law and will be […]

Cayman Islands – Ongoing obligations of exempted companies registered as mutual funds

Ongoing corporate requirements The Companies Law (2018 Revision) (as amended) (the “Companies Law”) imposes continuing obligations on all exempted companies, including those registered as mutual funds under section 4(3) of the Mutual Funds Law (2019 Revision) (as amended) (the “Mutual Funds Law”). The main relevant requirements of the Companies Law are summarised below. Registered office […]

Insolvency and restructuring

Recent developments in litigation funding

By Alex Jay In this journal in 2015, I wrote on the subject ‘Funding insolvency litigation: a new dawn’, outlining various streams of funding available to insolvency practitioners (IPs) (see (2015) 5 CRI 183). Since then, the sun has set on one era and risen again. This article considers key developments in litigation funding in […]

The insolvency review 2019: Switzerland

By Daniel Hayek, Mark Meili This seventh edition of The Insolvency Review once again offers an in-depth review of market conditions and insolvency case developments in key countries. A debt of gratitude is owed to the outstanding professionals around the world who have dedicated their time and talents to this book. As always, their contributions […]

Americas restructuring review 2020

By John Wasty, John Riihiluoma, Lalita Vaswani, Sam Riihiluoma This chapter discusses the defining features of Bermuda’s insolvency landscape and the primary insolvency and rescue procedures available under Bermuda law, including compulsory liquidations and schemes of arrangements. The restructuring of Noble Group Limited is presented as a case-study, to illustrate the use of provisional liquidation […]

Finance bill V The rescue buy out

By Michael Taylor Draft legislation for the Finance Bill 2019/20 includes provisions which could significantly impact senior management leading a buy-out from an insolvent employer, making business rescue potentially more difficult and complicated. In large complex restructurings and insolvencies, it is not uncommon for non-core or subsidiary businesses to be sold off separately by the […]

Appointment of administrator by qualified floating charge holder valid when made after court hours? It should be…

By Ian Weatherall, Jasvir Jootla, Turon Miah, Teresa Edwards The High Court decision in Re All Star Leisure (Group) Limited (2019), which confirmed the validity of an administration appointment by a qualified floating charge holder (QFCH) out of court hours by CE-Filing, will be welcomed. The decision accepted that the rules did not currently provide […]

The insolvency review – Seventh edition

By John Wasty, John Riihiluoma, Lalita Vaswani, Sam Riihiluoma The seventh edition of The Insolvency Review offers an in-depth review of market conditions and insolvency case developments. I INSOLVENCY LAW, POLICY AND PROCEDURE i Statutory framework and substantive law Bermuda is an overseas territory of the United Kingdom and its legal system is based on […]

Federal Council adopts dispatch to improve legal framework for blockchain and DLT

By Jürg Schneider, Christophe Gösken On 27 November 2019 the Federal Council adopted a dispatch message to improve the legal framework governing distributed ledger technologies (DLT) in Switzerland. The Federal Council’s objective is to increase legal certainty, remove obstacles to DLT-based applications and limit the risk of abuse. Parliament will examine the dispatch message in […]

A guide to cross-border financing in Switzerland

By Daniel Hayek, Mark Meili Switzerland is home to approximately 250 banks with an aggregate balance sheet of about CHF3.23 trillion ($3.25 trillion). Consequently, the Swiss cross-border financing market is mature and well-developed. Local banks such as Credit Suisse, UBS and the Zurich Cantonal Bank (ZKB) are the dominant lenders when it comes to cross-border […]

Insurance

Bermuda economic substance amendments, 2019

The Government has been engaged in active dialogue with the EU Code of Conduct Group and the OECD during the last 6 months to ensure equivalency with other 2.2 jurisdictions. This has culminated in the introduction of the Economic Substance Amendment (No. 2) Act, 2019 and a further iteration of the Economic Substance Regulations. The […]

NAIC grants Bermuda reciprocal jurisdiction status, affecting (re)insurers’ requirements to post collateral

By Sophia Greaves, Charles G.R. Collis, Chris Garrod, Chiara T. Nannini The National Association of Insurance Commissioners (NAIC) has reaffirmed Bermuda as a Qualified Jurisdiction, ensuring continued efficiency in the cross-border operations of Bermuda (re)insurers in the US market. It has also designated the island a Reciprocal Jurisdiction effective from 1 January 2020, giving Bermuda […]

Financial services regulation round-up – December 2019

By Noline Matemera Banking Open Banking update on banks’ implementation of the Customer Experience Guidelines Open Banking has published an overview of how the six largest banks in Great Britain and the three largest banks in Northern Ireland (known collectively as the CMA9) have implemented the Customer Experience Guidelines (CEG) and the measures the Open […]

Manchikalapati & others v Zurich Insurance PLC

By Martin Scott, Paul Hargreaves On 5 December 2019 the Court of Appeal handed down its judgment following appeals against the decision of HHJ Stephen Davies in Zagora Management Ltd v Zurich Insurance Plc [2019] EWHC 140 (TCC). Save in one important respect, the Court of Appeal’s judgment essentially upheld the decision of HHJ Davies […]

Insurer’s beware: Providing a defence in the absence of a non-waiver agreement or reservation of rights may lead to duty to defend and indemnify, notwithstanding applicable policy exclusions

By Belinda A. Bain, Fatima Zahra This was the cautionary tale from the Ontario Court of Appeal’s recent decision in Commonwell Mutual Insurance Group v Campbell.[1] In the Campbell case, the insured was operating his employer’s dirt bike when he collided with an all-terrain vehicle (ATV) and was sued in negligence in connection with the […]

Introduction of the new collateralised insurer class

By Brad Adderly Members of the ILS Bermuda Market Intelligence workstream hosted a roundtable to discuss the Bermuda Monetary Authority’s introduction of the new Collateralised Insurer class. Bermuda Business Development Agency (BDA) CEO Andy Burrows welcomed panelists and applauded the work of ILS Bermuda in its efforts to support the promotion of the jurisdiction and […]

Pharmaceuticals and healthcare

The growing buzz around cannabis investment… and the unintended consequences

By Julia Schaefer Cannabis has recently become a much talked-about topic, especially in Guernsey, with the local media regularly drumming up excitement about the latest proposals to grow the plant in order to sell it to the medical world. Private banks, asset managers and trusts in the offshore world are eyeing up this new asset […]

When might Article 2 apply to deaths of patients in the community?

By Bridget Dolan QC R (Lee) v HM Assistant Coroner for Sunderland [2019] EWHC 3227 (Admin) 12.9.19 It is now commonplace in advance of inquests for coroners to rule on their scope, including whether possible state responsibility requires the inquest to meet the UK’s Art 2 procedural obligations. That task is not easy when the […]

Regulatory Round-Up – November/December 2019

By Jeanette Burgess, Andrew Northage, Stuart Ponting This briefing discusses about the following topics in detail. Consumer and Retail Finance – November/December 2019 Data Protection – November/December 2019 Health and Safety – November/December 2019

Life Science law update

By Andreas Wildi, Celine Weber, Felix Tuchschmid New Law Indirect counterproposal to nursing care initiative The counterproposal of the Parliament’s Commission for Social Security and Health takes up important demands of the popular initiative. Planned optimization of the rules on human research Several recommendations in the evaluation report on the Human Research Act require an […]

Contractual interpretation and variation

By Susan Honeyands In NHS v Vasant, the Court of Appeal considered no oral modification (NOM) and entire agreement provisions to uphold a contractual variation. The effect, in the circumstances, was that there were no relevant grounds upon which the NHS could terminate contractual arrangements for the supply of certain dental services. It is also […]

Public law case update – December 2019

By John P Cooper, Kieran Laird, Ravi Randhawa The December 2019 edition of our case updater offers a straightforward and concise overview of six recent cases within public law and regulation which highlight important points of relevant public law principles and procedure. Gowling WLG’s team of public law and regulation specialists examine the following cases […]

BMA forms view on cannabis related risk

By Josephine Noddings The Bermuda Monetary Authority has confirmed that it will not object to BMA-supervised entities conducting cannabis business with a licensed cannabis cultivator, processor or seller so long as the conduct of the cannabis business is legal at all levels within the country in which it is operated. The BMA’s position, issued in […]

Bermuda Monetary Authority forms view on cannabis related risk

By Brad Adderley, Matthew Carr, Josephine Noddings On 12 November 2019 the Bermuda Monetary Authority (BMA) released a notice (Notice) in response to an increase in enquires in respect of licencing to re/insure cannabis related risk and the recent legalization of cannabis in Canada. The Notice outlines the BMA’s favourable view towards such licencing. In […]

Private Client

Jersey’s private wealth relationship with the Middle East

By Sarah Farrow The relationship between Jersey and the Middle East is an important one. Jersey has been working closely with governments, businesses and high net worth families in the region for many years. The relationship began in earnest in the mid-twentieth century with the City of London as the catalyst. London has always been […]

Wills & Probate in the Cayman Islands

By Robert Lindley, Wesley O’Brien Where a person dies leaving any assets (including shares) in the Cayman Islands, it is not possible to deal with those assets without first obtaining a grant of representation from the Grand Court of the Cayman Islands. This rule applies irrespective of where the deceased died, where they resided during […]

The latest trends in philanthropy

By Henry Wickham, Anthony Partridge, Gavin Ferguson What is driving philanthropists in terms of where and how they give? Henry: Philanthropic causes are increasingly driven by concerns which personally resonate with individuals and to which they feel they can add real value and impact. The Channel Islands are no different. Private clients are not only […]

Structuring family office investments using Jersey private funds

By Emily Haithwaite, Josephine Howe Group partner Emily Haithwaite and partner Josephine Howe discuss Jersey private funds and what structures may be most appropriate for family office structures. Their article first appeared in HFM Jersey 2019 Special Report. Wealth is increasing exponentially among some of the world’s richest families, many of which have their own […]

Economic substance laws: The private wealth context

By James Campbell, Marcus Leese, Richard Laignel, Katie Baxter As part of on-going international initiatives, a large number of international finance centres (including Jersey, Guernsey, BVI and Cayman) have passed laws requiring companies which are tax resident in such centres and also conducting certain types of activities to demonstrate that they have an adequate level […]

Reflections on the 16th annual Isle Of Man step conference 2019

By Melissa Wong, Erin Trimble-Cregeen Complexity and Risk As a result of challenges arising from regulatory changes, economic substance, the changing wishes of the next generations of families and the issues of privacy and confidentiality surrounding transparency and disclosure requirements, it is vital to focus on clients and building a comprehensive understanding of their needs. […]

Slowly getting to grips with unjust enrichment and Jersey’s legal hot potatoes (CMC v Forster)

By Nic Journeaux Private Client analysis: This long-running fraud case illustrates the difficult task that the Channel Island courts sometimes have in comparing and distinguishing between developed principles of English law and foundational elements of the customary law of the islands which borrow from French and other civilian law jurisdictions. It tackles two ‘hot potatoes’ […]

Public sector and local authority

Buying innovation in the public sector

Public sector buyers have to contend with a range of competing priorities, whilst managing the demands of stakeholders, impossible deadlines and opaque governance processes. And that’s before we start on the dark art of the public procurement regulations. All of this must be done whilst ensuring value for money for the taxpayer. Against a background […]

New president and council members for the Commission for State Aid Control

Not long after adopting the new Law on State Aid, the National Assembly of the Republic of Serbia appointed the President and four council-members of the Serbian Commission for State Aid Control (“CSAC”). State aid control in Serbia has been identified as an area that requires significant and priority improvement in EU accession, as the […]

Brexit – What next?

By Tony Randle As movement on Brexit finally commences, Tony Randle, Brexit partner at Shoosmiths, looks at what this means for UK businesses. The conservative party majority in the election last week has at least brought an end to the stalemate in parliament and gives the new government a platform to progress the UK’s exit […]

What does the new government’s policy mean for housing?

By Linda Convery On 17 December, five days after the electorate took to the polls, I participated in a panel on what the new government’s policy means for housing. For the first time since 2010, the government has a sizeable majority. There is a distinct desire from the sector that this will translate into action. […]

Prime Minister Trudeau’s mandate letters to cabinet ministers

By Richard G. Dearden, Wendy J. Wagner, Hunter Fox Canadian Prime Minister Justin Trudeau has released the mandate letters for each of the 37 cabinet Ministers of his minority Liberal government. This bulletin highlights some of the priority initiatives set out in the mandate letters for the Deputy Prime Minister and Minister of Intergovernmental Affairs, […]

A Conservative victory: What does this mean for employment law?

By Jo Tunnicliff The Conservative party won the 2019 election with a majority that has not been seen since the Thatcher years. However, the Conservative manifesto was not particularly long or detailed. So what employment law changes can we expect over the next 5 years? 1. Pay The manifesto confirmed that the national living wage […]

What does a Conservative majority mean for immigration in the UK?

By Fraser Vandal With the Conservative Party securing a clear majority in last week’s election, there is now a degree of certainty as to the UK’s future immigration policy – although things are far from crystal clear in a number of areas. What is the likely direction of travel on future immigration policy? Brexit Brexit […]

Real Estate and Infrastructure

Benefits await public sector bodies who voluntarily register their property

By Edward Pitt Public sector organisations may be able to save significant fees and administration by proactively registering their property assets with the Land Registry. The public sector can take advantage of an ongoing Land Registry project which aims to register all public sector land in England and Wales by the end of 2025. This […]

New housing disrepair protocol

By Kane Kirkbride Two new developments could converge to have a significant impact on how disrepair claims are dealt with in future. Recent years have witnessed a substantial growth in the number of disrepair claims brought by tenants against their social landlords, together with the numbers of claims management companies and lawyers bringing them, often […]

Values and vision – The Law Commission report on enfranchisement

By Sarah Goodall, Michael Callaghan In the first of its responses to an ambitious series of property law consultations, the Law Commission has issued its report on how enfranchisement claims should be valued to calculate the premium payable by tenants when they enfranchise. Background Enfranchisement is the process by which residential tenants of a building […]

Amendment to the legislation on realization of transactions at the directorates other than the land registry offices for which they are registered

By Mevra Baran Akkoyun, Ahmet Berhan Aytekin A. GENERAL Land Registry Directorate of jurisdiction transactions relating to real property outside (the ” Transactions “) on behalf be made first steps April 30, 2011, Saturday, 27920 numbered Official Gazette Land Registry Directorate of jurisdiction of the registered Found immovable Procedure for Making the Related Buying Process […]

Supreme Court offers additional defence against TVGs on public land

By Andrew Beck, David Manda Walker Morris’ town and village green (TVG) experts Andrew Beck and David Manda explain a recent Supreme Court decision which will have far-reaching implications for the protection and development of publicly-owned land. Why is this case of interest? The Lancashire County Council and NHS Property Services conjoined case [1] may […]

Technology, Media and Telecommunications

The Space Law review

By Magda Cocco, Helena Correia Mendonça, Cristina Melo Miranda I INTRODUCTION TO THE NATIONAL LEGAL, REGULATORY AND POLICY FRAMEWORK Portugal has been taking important steps in the space sector in recent years. In addition to the approval of its space strategy in 2018 (Portugal Space 2030), Portugal also became part of the European Space Surveillance […]

EDPB publishes final text of Danish standard data processing clauses

By Emma Erskine-Fox The European Data Protection Board (EDPB) has published the final version of standard data processing clauses proposed by the Danish data protection authority (DPA). Background Many readers will be familiar with the trials and tribulations of negotiating data processing clauses under Article 28(3) of the General Data Protection Regulation 2016 (GDPR), which […]

IT outsourcing by banks and insurers facilitated by revised regulations

By Jürg Schneider, Hugh Reeves, Christophe Gösken On 1 January 2020 the Swiss Financial Market Supervisory Authority (FINMA) implemented various revised rules primarily targeting small banks (the so-called ‘small banks regime’). Among other aspects, this will result in a relaxation of IT outsourcing requirements for financial institutions. In this respect, a revised FINMA Outsourcing Circular […]

Legal statement provides guidance on status of cryptoassets & smart contracts

By Alex Jay, Catherine Naylor, Christopher Richards As has been widely reported, the Government’s UK Jurisdiction Taskforce has published its legal statement on cryptoassets and smart contracts, which aims to provide market confidence, legal certainty and predictability by giving guidance on the legal status of these asset classes. The legal statement is especially relevant as […]

Canada’s piece of the regulatory pie: Application of Canadian data privacy laws to a local data processor with a global reach

By Wendy J. Wagner, Christopher Oates, Sarah Boucaud In late 2019, the Office of the Information & Privacy Commissioner for British Columbia (“OIPC”) and the Office of the Privacy Commissioner of Canada (“OPC”) collaborated in the investigation of a company connected to the use of personal information for political campaign efforts. Several companies including Facebook,[1] […]

Cayman Islands – Ongoing obligations of exempted limited partnerships registered as mutual funds

Ongoing partnership requirements The Exempted Limited Partnership Law (2018 Revision) (the “ELP Law”) imposes continuing obligations on all exempted limited partnerships, including those registered as mutual funds under Section 4(3) of the Mutual Funds Law (2019 Revision) (as amended) (the “Mutual Funds Law”). The main relevant requirements of the ELP Law are summarised below. Changes […]

GDPR: Data breach notification

Data controllers must report personal data breaches to the Information Commissioner’s Office (ICO) no later than 72 hours after becoming aware of the breach (Article 33(1) of the GDPR) if the personal databreach is likely to result in a risk to the rights and freedoms of data subjects. Where that risk is a high one, […]

Tax

Fourth round of Croatian tax reforms takes effect: Croatia

By Ozren Kobsa, Ana Marija Rupčić In late November 2019 the Croatian Parliament passed a series of laws amending Croatian tax legislation. The new laws, in the most part, came into effect on 1 January 2020. The changes form part of wider efforts of the Croatian Government to ease the tax burden on both citizens […]

Setting aside and rectifying mistakes in respect of trusts relating to tax

By Natasha Kapp, Nina Clift The Royal Court of Guernsey has recently handed down two judgments on setting aside and rectifying mistakes in respect of trusts relating to tax. These cases confirm the availability of these remedies under the Trusts (Guernsey) Law, 2007 and the applicable legal principles that will be applied. SETTING ASIDE TRANSFERS […]

Jersey’s Royal Court declares trustee’s exercise of power void

By Damian Evans, Matthew Davies A mistake or a failure to take into account relevant considerations? The Royal Court is asked to consider its jurisdiction to declare voidable the exercise of a power on both grounds. On 3rd December 2019, the Royal Court declared void certain actions of a trustee (the “Trustee”) by which the […]

Amendments to tax law as of 1 January 2020: Romania

By Alexandra Barbu, Anamaria Tocaci Below is a list of the main provisions included in Law no. 263/2019 on the amendment of Law 227/2015 regarding the Fiscal Code, effective 1 January 2020. The social security and health insurance contributions due for the salary income obtained from part-time employment agreements will be computed based on the […]

Kazakhstan has ratified the convention on avoidance of double taxation with Cyprus

By Assel Ilyasova On 30 December 2019 the Republic of Kazakhstan has ratified the Convention on avoidance of double taxation with Cyprus and the Protocol thereto1 (hereinafter – the ‘Convention’). The Convention comes into effect upon receipt of the last written notification confirming that all necessary interstate procedures were finalised. If these procedures are finalised […]

2020 VAT law changes: Romania

By Theodor Artenie, Anamaria Tocaci The beginning of 2020 looks intense from a tax perspective. A series of legislative changes impacting the value added tax (“VAT”) were announced at the end of 2019, including: The VAT split payment mechanism is repealed effective 1 February 2020 Taxable persons applying the VAT split payment mechanism will have […]

What is the Konut Valuable Housing Tax ilen created by the Bag Law?

By Mert Sönmüş A. PURPOSE AND SCOPE This article; Law No. 1319 on Real Estate Tax Law (“Real Estate Tax Law ih) which was published in the Official Gazette dated 7.12.2019 and numbered 7194 with the“ Digital Service Tax Law and Some Laws and Amendments to the Decree Law No 375 “(Kanun Bag Law”) ”) […]

Substance matters

By Jeremy Berchem, Jennifer Rosser In 2017, the EU Code of Conduct Group (the Group) reviewed the tax policies of various non-EU countries, including Guernsey. The Group deemed Guernsey a cooperative jurisdiction but concerns were raised due to a lack of statutory substance requirements which may result in the profits registered in Guernsey not accurately […]

Transport (Including aviation and shipping)

Mozambique: New Sea Law enacted

By José Miguel Oliveira, Guilherme Daniel, Ivo Mahumane, Helna Vitoldás By means of Law No. 20/2019, of 8 November 2019, the Parliament of Mozambique approved a new Sea Law (the “New Sea Law”). This new statute, which revokes Law no. 4/96, of 4 January 1996, and entered into effect of December, 8th, aims to adapt […]

Brexit uncertainty means Tesla chose Germany for new European factory

By Anurag (Ragi) Singh Last month, Tesla CEO Elon Musk said that Brexit uncertainty was a factor in the firm’s decision to build its first major European factory near Berlin in Germany rather than the UK. After making the announcement at an auto industry awards ceremony, Musk told Auto Express magazine that: “Brexit (uncertainty) made […]

Bermuda offers safe haven for shipping companies from winds of change

By Marcello Ausenda As the regulatory demands on offshore companies continue to grow, it can be hard to determine the right jurisdiction for the ownership and registration of vessels. Recent changes relaxing eligibility requirements for the Bermuda Ship Registry and the introduction of more competitive vessel registration pricing have positioned Bermuda extremely well. At the […]

The future of mobility

By Robin Webb The FT Future of Mobility’s latest summit is focusing on the future of transport – but it’s not just about changing how we travel, it’s set to change how we live our lives. At this knowledge-sharing event with over 200 senior global professionals, our head of mobility and partner at Shoosmiths, Robin […]

Motor Finance: FCA Cracks Down on Commission Arrangements between Motor Finance Providers and Brokers

By Sushil Kuner, Simon Stephen The FCA has announced its proposals to address consumer harm in the motor finance market by banning commission models that incentivise brokers (including motor dealers) to increase a customer’s interest rate. In this insight, Sushil Kuner and Simon Stephen explore the types of commission arrangements which the FCA is proposing to ban in its […]

Ukraine allows private sector involvement in space activities

By Oleksiy Burchevskyy November 2019 – Ukraine’s space industry has entered a new era. On 25 October 2019 the President signed the recently approved Law of Ukraine “On Amendments to Certain Laws of Ukraine on the State Regulation of Space Activities”. The main purpose of the new legislation is to commercialise space activities in Ukraine, which […]

First court decision in Canada implementing the insolvency provisions of the Cape Town convention

By Marie-France Beland, David Kierans In a recent matter handled by Gowling WLG (Canada) LLP (the “Transaction“) representing a financial institution in the Canadian aviation market (the “Aircraft Financing Company“), a Canadian court order implemented, for the first time, “Alternative A” of the insolvency provisions set out in the Convention on International Interests on Mobile Equipment (the […]

New Concession Law of Ukraine Legal Alert

By Kirill Levterov Effective use of existing resources is a mandatory feature of every individual so is for the whole countries. Ukrainian Parliament adopted a new Concession Law (the “Law”) which essence will be legally binding starting from 1 February 2020 (with a grace period for some provisions). Entering into force of the new Law […]

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