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

Visa’s Acquisition of Plaid – Who Benefits Most?

Now that the deal, announced at the beginning of the year, has finally been cleared, what do Plaid and Visa stand to gain from it? Simon De Broise examines the likely impact of the acquisition on the two companies and the financial sector as a whole.

Startup Series – II – Building Your Company

I. INTRODUCTION TO BUILDING COMPANY FOR STARTUPS In the first article of our startup series, we have mentioned crowdfunding, which is a contemporary and interesting topic, and dwelled on the conditions of using crowdfunding as an alternative financing source in your company. For the second article of our series, we want to turn our course back a little bit, to the period when your ideas and your startup are slowly maturing. One of the most important questions in mind during the initial period when there is no legal entity yet when there is just you and perhaps your partner, your opinion and effort are undoubtedly “Will we establish a company?”

Why now is the time for a first-class outsourced switchboard

Where others see obstacles, let us see opportunities. Now we are starting to move back into our offices, we’re all looking for ways to make improvements and savings. Especially with additional measures in place to receive staff and visitors. Here is how outsourcing your switchboard can greatly improve your front of house team. And ultimately, your firm’s operations.

Employers should prepare for long-term changes to the world of work

There are of course many negatives arising from the crisis presented by COVID-19. However, there could be real benefits for businesses and their staff if we take some of the opportunities that have been presented and do not just look to revert to the old ways of doing things.

Podcast series #2 – The future of build-to-rent

Shoosmiths has produced another three-part podcast series on the BTR sector. In this podcast, the second in the series, real estate partner, Choisanne Man, speaks with John German, Managing Director of Residential Investment at Invesco Real Estate, on the impact the COVID-19 pandemic has had on the build-to-rent market, from an investor/funder perspective.

In-house briefings

Startup Series – II – Building Your Company

I. INTRODUCTION TO BUILDING COMPANY FOR STARTUPS In the first article of our startup series, we have mentioned crowdfunding, which is a contemporary and interesting topic, and dwelled on the conditions of using crowdfunding as an alternative financing source in your company. For the second article of our series, we want to turn our course back a little bit, to the period when your ideas and your startup are slowly maturing. One of the most important questions in mind during the initial period when there is no legal entity yet when there is just you and perhaps your partner, your opinion and effort are undoubtedly “Will we establish a company?”

Why now is the time for a first-class outsourced switchboard

Where others see obstacles, let us see opportunities. Now we are starting to move back into our offices, we’re all looking for ways to make improvements and savings. Especially with additional measures in place to receive staff and visitors. Here is how outsourcing your switchboard can greatly improve your front of house team. And ultimately, your firm’s operations.

Employers should prepare for long-term changes to the world of work

There are of course many negatives arising from the crisis presented by COVID-19. However, there could be real benefits for businesses and their staff if we take some of the opportunities that have been presented and do not just look to revert to the old ways of doing things.

The rise of legal platforms and why they matter

In the past, I have spoken about the possibility of a tsunami of change within the legal industry. It is something I have been carefully watching for several years and things now seem to be rapidly accelerating.

Protected disclosures: update for employers in Ireland

The recent High Court decision of John Clarke v. CGI Food Services Limited and CGI Holding Limited [2020] IEHC 368 demonstrates the broad scope of the definition of protected disclosures under the Protected Disclosures Act 2014.

Business Interruption Insurance Test Case – Resounding Victory for Policyholders

On 15 September 2020, the High Court held that the majority of businesses who were forced to close as a result of the COVID-19 pandemic and whom hold business interruption (BI) insurance policies are entitled to compensation from their insurers. Subject to limitations under the relevant policies, businesses may now be entitled to a pay-out which would effectively put them back in the position had the pandemic never occurred.

Banking and finance

High Court decision on business interruption claims for Covid related losses

The High Court has now handed down judgment in the eagerly awaited test case brought by the Financial Conduct Authority (‘FCA’) against 8 insurers to determine whether policyholders can make business interruption (BI) claims for losses arising from disruption and closure of their businesses caused by Covid-19.

The Financial Conduct Authority v Arch Insurance (UK) Limited & Others [2020] EWHC 2448 (Comm)

Judgment in the landmark business interruption insurance test case has been handed down by a first instance court consisting of Flaux LJ and Butcher J. The case was brought by the Financial Conduct Authority as a test case to determine issues of principle in relation to policy coverage under various specimen wordings underwritten by eight defendant insurers in respect of business interruption claims by policyholders arising out of the COVID-19 pandemic and the advice of and restrictions imposed by the UK government in consequence.

Pensions Ombudsman update – September 2020

Key areas covered in this edition include: Employer’s automatic enrolment duties; Distress caused by missing contributions; Tax liability for negligent misstatement; and Administrator’s duty to provide correct information. Download the latest edition to find out more details and the impact of these decisions.

Insurers first to be registered under New Bermuda ISAC Act

The first company and incorporated segregated account (ISA) to be registered in Bermuda under the Incorporated Segregated Accounts Company Act 2019 (ISAC Act) have been licensed as insurance companies. Conyers advised on the incorporation of both the ISAC and ISA and their registration as insurers, working closely with the Bermuda Monetary Authority and the Registrar of Companies.

Company and commercial

Startup Series – II – Building Your Company

I. INTRODUCTION TO BUILDING COMPANY FOR STARTUPS In the first article of our startup series, we have mentioned crowdfunding, which is a contemporary and interesting topic, and dwelled on the conditions of using crowdfunding as an alternative financing source in your company. For the second article of our series, we want to turn our course back a little bit, to the period when your ideas and your startup are slowly maturing. One of the most important questions in mind during the initial period when there is no legal entity yet when there is just you and perhaps your partner, your opinion and effort are undoubtedly “Will we establish a company?”

Ireland Update – Use of Electronic Signatures on Regulatory Documents and Forms

In a statement published on 24 August 2020, the Central Bank of Ireland (the “Central Bank”) confirmed to regulated firms that its policy regarding the use of electronic signatures is that, in the absence of any specific legal provisions to the contrary, regulated firms may use electronic signatures in submitting regulatory documents and forms to […]

UK secures first major trade deal post-Brexit with Japan

On Friday 11 September the UK and Japan agreed a free trade deal, which is the first major trade deal secured by the UK as an independent nation. The deal took just over three months to conclude and the full text will be available in October.

Food & Drink Update – September 2020

Guidance on the latest food and drink rules, including post-furlough planning and workforce measures manufacturers, Brexit and the workforce – how to prepare for upcoming changes, protecting innovation in the food & drink industry, and more.

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

Retail: Guide to surviving COVID-19

Lawyers have predicted that one in ten SMEs will be set to collapse post-lockdown. Although harsh, it is a reality we have already seen over the last few months, with even major household names having to take protective action.

Competition and EU

Visa’s Acquisition of Plaid – Who Benefits Most?

Now that the deal, announced at the beginning of the year, has finally been cleared, what do Plaid and Visa stand to gain from it? Simon De Broise examines the likely impact of the acquisition on the two companies and the financial sector as a whole.

Are you ready for the next level in green energy?

The European Commission issued on July 8, 2020, a communication (COM (2020) 299 final) on “Powering a climate-neutral economy: An EU Strategy for Energy System Integration” (the “Strategy”).

CEE: Competition Monthly Bulletin – August 2020

Stay informed about the latest developments in competition law in Central and Eastern Europe with Schoenherr’s multi-jurisdictional newsletter. Each issue offers insight into developments in merger control, antitrust, and unfair competition in the region. Main takeawaysAntitrust: RPM infringement decisions in several countries, but notably, immunity from fine in one Austrian case. Uptick in abuse of […]

Forthcoming changes in Cyprus competition laws

Harris Kyriakides participates in the public consultation of the Cyprus Commission for the Protection of Competition on the 2021 Protection of Competition Law and Leniency Programme Regulations.

Swiss IP News – July 2020

An update on new decisions, the relevant legislative process and other trends in the fields of intellectual property and unfair competition law from a Swiss perspective.

Corporate

Ireland Update – Use of Electronic Signatures on Regulatory Documents and Forms

In a statement published on 24 August 2020, the Central Bank of Ireland (the “Central Bank”) confirmed to regulated firms that its policy regarding the use of electronic signatures is that, in the absence of any specific legal provisions to the contrary, regulated firms may use electronic signatures in submitting regulatory documents and forms to […]

Working ethically: The importance of transparency and workplace whistleblowing

When we hear talk of whistle-blowers, we tend to think of high-profile examples like Edward Snowden holed up in Russia or former U.S. Army soldier Chelsea Manning. But for the most part, workplace whistleblowing doesn’t involve grand government conspiracies or James Bond-esque plotlines but generally more mundane forms of fraud and other abuses of power.

Covid-19 Ireland Update: Company law changes

The Companies (Miscellaneous Provisions (COVID-19) Act 2020 (the “Act”) came into force on 21 August 2020. It recognises cash flow and practical difficulties being faced by Irish companies due to COVID-19 and makes temporary amendments to the Companies Act 2014.

Employment

Why now is the time for a first-class outsourced switchboard

Where others see obstacles, let us see opportunities. Now we are starting to move back into our offices, we’re all looking for ways to make improvements and savings. Especially with additional measures in place to receive staff and visitors. Here is how outsourcing your switchboard can greatly improve your front of house team. And ultimately, your firm’s operations.

Employers should prepare for long-term changes to the world of work

There are of course many negatives arising from the crisis presented by COVID-19. However, there could be real benefits for businesses and their staff if we take some of the opportunities that have been presented and do not just look to revert to the old ways of doing things.

Protected disclosures: update for employers in Ireland

The recent High Court decision of John Clarke v. CGI Food Services Limited and CGI Holding Limited [2020] IEHC 368 demonstrates the broad scope of the definition of protected disclosures under the Protected Disclosures Act 2014.

Energy and environment

Renewable Expansion Act (EAG)

Review draft published – a first overview! On September 16, 2020, the eagerly awaited draft of the Federal Law on the Expansion of Energy from Renewable Sources (Renewable Expansion Law – EAG ) was submitted for assessment. As a contribution to the realization of the goals of the Paris Climate Protection Agreement 2015, the draft creates new framework conditions for the expansion of renewable energies in Austria. The present article gives an initial overview. Details will follow in focus articles and in our virtual series of events

Should trustees be worried about global warming?

Climate change will no doubt continue to be a worldwide topic of concern and will impact us all. The science is clear and reinforced by the extremity and increasing frequency of recent climate-related disasters such as typhoons, flooding, drought and, of course, the tragic wild fires in Australia. If that sounds alarmist, remember that in 2018 California had the deadliest forest fires in its history while over 100 people died in wild fires in Greece.

Environmental pollution: A continuing nuisance?

In the most recent of a series of preliminary hearings in Harrison Jalla and Others v (1) Royal Dutch Shell PLC (2) Shell International Trading and Shipping company Limited (3) Shell Nigeria Exploration and Production Company Limited, the High Court has addressed the complications that arise when there are differing limitation periods within one representative […]

Planning for the future – Local Plans

With less than half of England’s Councils having a fit for purpose Local Plan the government is right to consider how the situation can be improved.

Planning for the future – Infrastructure levy

The government’s White Paper, Planning for the Future – in the words of the Prime Minister – proposes “radical reform unlike anything we have seen since the Second World War”. Not unsurprisingly then, Planning for the Future includes proposals to reform planning obligations and the Community Infrastructure Levy (CIL).

The planning white paper – August 2020

The highly anticipated but delayed Planning White Paper was finally unveiled by the government on 6 August and with it potentially ushers in a brave new world for the planning system.

First Homes to become a mandatory affordable housing requirement

David Perry and Tim Willis examine the Government’s latest proposals for mandatory provision of discounted housing through the First Homes scheme; including the classification of this tenure as “affordable housing” in planning policy terms.

Funds

Tale of three funds

This article explores the collapse of three funds across three different jurisdictions and then sets out some of the lessons to be learnt by directors and fund managers.

Guernsey’s Funds Regime – Why Guernsey?

Guernsey is a premier jurisdiction for investment funds and private equity business. The island’s reputation, location, tax neutral status and innovative approach continues to attract leading investment managers.

Insolvency and restructuring

How to keep your business finances in check during Covid-19

COVID-19 has put many businesses in a difficult financial situation. Although the Government has recognised this by pushing the Corporate Insolvency and Governance Act 2020 through Parliament to try and stem the inevitable wave of insolvencies, directors and owners cannot afford to take their eyes off the ball for a second.

Bringing claims against Cayman Islands entities subject to insolvency processes

Rumours that a company is in the zone of insolvency may create a race to the assets, with potential creditors or interested parties commencing proceedings in an attempt to secure payment from the company before its assets are fully dissipated or tied up in the insolvency process. This can destroy the collective value in the enterprise or scupper a restructuring and result in significant duplicative costs.

Covid-19 Ireland Update: Company law changes

The Companies (Miscellaneous Provisions (COVID-19) Act 2020 (the “Act”) came into force on 21 August 2020. It recognises cash flow and practical difficulties being faced by Irish companies due to COVID-19 and makes temporary amendments to the Companies Act 2014.

Coronavirus and company general meetings

The coronavirus pandemic is presenting companies and their directors with many challenges. Simply planning for business as usual requires change to normal practices. Holding general meetings, particularly as we enter AGM season for listed companies with a 31 December year-end, is one such challenge.

Beware the return of the Crown Preference

The Finance Act 2020, which received Royal Assent on 22 July 2020, will partially restore HMRC’s position as a preferred creditor in insolvencies from 1 December 2020.

Setting aside company transactions involving Jersey, Guernsey and BVI companies

Financial pressure can change perspectives on transactions – whether through the lens of an insolvent winding up, in the context of a counterparty or related interested party exploring ways in which they might unravel a transaction, or a new board considering whether a company can extricate itself from contractual arrangements that appear to have been subject to a conflict of interest or which were for an improper purpose.

Insurance

Business Interruption Insurance Test Case – Resounding Victory for Policyholders

On 15 September 2020, the High Court held that the majority of businesses who were forced to close as a result of the COVID-19 pandemic and whom hold business interruption (BI) insurance policies are entitled to compensation from their insurers. Subject to limitations under the relevant policies, businesses may now be entitled to a pay-out which would effectively put them back in the position had the pandemic never occurred.

Insurers first to be registered under New Bermuda ISAC Act

The first company and incorporated segregated account (ISA) to be registered in Bermuda under the Incorporated Segregated Accounts Company Act 2019 (ISAC Act) have been licensed as insurance companies. Conyers advised on the incorporation of both the ISAC and ISA and their registration as insurers, working closely with the Bermuda Monetary Authority and the Registrar of Companies.

Cybersecurity requirements for licensees

Entities regulated under the Insurance Law will need to implement cybersecurity measures in proportion to their cyber risk profile by 27 November 2020 following the release of the Rule and Statement of Guidance on Cybersecurity for Regulated Entities by the Cayman Islands Monetary Authority on 27 May 2020.

SRA provides some breathing space for law firms struggling to obtain PI cover

By Zarina Lawley The Solicitors Regulation Authority (SRA) recently published a useful Q&A article on their website which we recommend all law firms take the time to read. It summarises some of the most common queries the SRA has received from solicitors about their rules and the potential impact of Coronavirus. The article discusses professional […]

Capital Markets Update – July 2020

June’s news ICSA publishes updated risk committee terms of reference On 1 June 2020, the Chartered Governance Institute (ICSA) published an updated version of its Terms of reference for the risk committee. The terms of reference are particularly relevant to regulated companies such as banks and insurance companies. ICAEW publishes an introductory guide to dividends […]

Guide to professional indemnity insurance for solicitors

Every practising solicitor must have professional indemnity insurance (PI), which protects against negligence claims made by clients. Like your law firm, solicitor’s professional indemnity insurance policies are unique and it’s crucial that you select the right one to ensure your business is appropriately covered. Unsure where to begin? That’s where this guide to solicitors PI […]

Intellectual Property

New regulation supports businesses using online platforms to trade

On 12 July 2020, the P2B (Platform to Business) Regulation became applicable in the UK aimed at online marketplaces and search engines and their dealings with the businesses that use their platforms. We provide an overview of the provisions and the impact it could have on your business.

Navigating the ever-changing data protection landscape for pension trustees

Over two years after the General Data Protection Regulation 2016 (GDPR) came into effect, a number of recent events have thrown data protection compliance issues well and truly back into the spotlight. Many trustees will, no doubt, have gone through a rigorous process in 2018 to bring their data protection policies and procedures up to scratch, but recent developments have demonstrated the importance of treating GDPR compliance as an ongoing obligation, rather than a one-off, tick-box exercise.

Coronavirus Digest: Patents and other intellectual property rights

The world is desperately seeking a vaccine and treatments against COVID-19 and the answer will also be found in intellectual property. For this reason, PLMJ and Inventa International have joined forces to prepare a Digest on these issues.

An Introduction to Intellectual Property

* Current economic conditions affecting clients or the legal profession. The economy seems to have grown at a moderate pace, mainly driven by domestic demand and by development in the services and real estate sectors. Both national and foreign companies continue to invest in Portugal. Tourism in particular has been playing an important role in […]

Swiss IP News – July 2020

An update on new decisions, the relevant legislative process and other trends in the fields of intellectual property and unfair competition law from a Swiss perspective.

Litigation

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

New LCIA Arbitration Rules: In force on 1 October 2020

The London Court of International Arbitration (LCIA) recently released its updated arbitration rules (the “2020 Rules”) which will come into force from 1 October 2020 and will apply to any arbitration commenced under the auspices of the LCIA on or after this date. The 2020 Rules, in the LCIA’s own words, aim to make the arbitral processes “even more streamlined and clear” for arbitrators and parties alike. We summarise nine key changes and one omission.

An insight into the relevance of insight in misconduct outcomes

If a police officer facing professional disciplinary proceedings disputes the misconduct allegations and continues to do so even after a finding of gross misconduct, can the misconduct hearing conclude that that the officer lacks insight and remorse – and impose a higher disciplinary sanction?

Pharmaceuticals and healthcare

Digital Therapeutics – Evolution and entry into mainstream healthcare

Research undertaken by DLA Piper’s Life Sciences practice in conjunction with The Lawyer seeks to understand the current developments in the field of digital therapeutics, looking at key questions that need to be addressed if these products are to become mainstream components of health systems across the world.

Podcast: Future of Leeds – will digital healthcare drive a new era?

Leeds has always been a resilient city, diverse and bursting with life and cultural energy. But after months of empty offices and quiet high streets, the city is determined to bounce back. So with a renewed focus and a drive for a new normal, what is in store for the future of Leeds?

Altruistic stem cell donation by a person lacking capacity

Many may be surprised to discover that the question of whether an incapacitous person should undergo an invasive medical procedure that is of no therapeutic benefit to herself, but which is likely to be of benefit to a third party, has never previously been determined by the Court of Protection.

Rules authorising the cultivation and industrial exploitation of varieties of hemp

There is a huge amount of interest in hemp cultivation, both for medicinal and cosmetic purposes, and for industrial use, in particular, the production of fibre, seeds and other products linked to agro-industry. As a consequence, the Government has legislated to positively discriminate in favour of the production of hemp for industrial purposes, to remove the risk of illegal practices.

Deprivation of liberty, death and Article 2

R (on the application of Maguire) v HM Senior Coroner for Blackpool & Fylde [2020] EWCA Civ 738 The Court of Appeal has ruled that the state’s investigative obligations under Article 2 ECHR do not arise where someone lacking capacity and deprived of their liberty dies of natural causes.The state’s obligations under Article 2 had not been triggered in this case […]

Covid-19 Test and Trace programme: what is a DPIA, anyway?

Following a legal challenge from privacy campaigners, the Department of Health has admitted that the Test and Trace programme, which aims to trace contacts of those infected with COVID-19 in order to prevent further spreading of the virus, was launched without any Data Protection Impact Assessment (DPIA) having been undertaken.

Private Client

A practical guide to setting up a family office in Jersey

Around the world family offices are growing in number. Family offices are increasingly becoming the organisation of choice for very wealthy families because they can be tailored to meet the individual needs of the families establishing them.

Relocation: Your move to Jersey…

For decades, Jersey has opened its doors to a limited number of individuals and businesses attracted not only by the Island’s charm and beauty but also by the many advantages to be gained from its location. Here, Carey Olsen property partner Christopher Philpott summarises some of the key points to consider.

Who decides who decides? Withdrawal of care proceedings

Where a local authority determines that the medical evidence falls short of proving that an injury to a child was deliberately inflicted, in what circumstances should it be allowed to withdraw its application? This was the question for the Court of Appeal in the recent case of GC v A Local Authority (A Child) (Withdrawal of care proceedings) [2020] EWCA Civ 848, an appeal from a first instance decision of HHJ Watson sitting at Coventry.

Relocation: Your move to Guernsey…

An increasing number of wealthy individuals, entrepreneurs and financial services principals have chosen to move to Guernsey with their families in recent years, with some also relocating their businesses to the Island. Here, Carey Olsen property partners Jason Morgan and Davey Le Marquand look at some of the practical issues to consider when contemplating a move to Guernsey.

Supreme Court guidance for charities

In the CIFF case the Supreme Court confirmed a charitable company member’s fiduciary duty to its charitable purpose.

Public sector and local authority

An insight into the relevance of insight in misconduct outcomes

If a police officer facing professional disciplinary proceedings disputes the misconduct allegations and continues to do so even after a finding of gross misconduct, can the misconduct hearing conclude that that the officer lacks insight and remorse – and impose a higher disciplinary sanction?

Can My Child be Detained under the Coronavirus Act Without My Knowledge?

The government has sought to give assurances to the Children’s Commissioner about concerns that a child could be detained without notice to their parents. But are they enough? Concerns and clarification Some of the provisions of the Coronavirus Act 2020[1] have prompted concerns from the Children’s Commissioner’s Office (CCO), which in turn have prompted public alarm […]

Video: Impact of Brexit on the current immigration system

In this video we provide an overview of how the UK’s immigration system will change as a result of Brexit. This is part of a series of short videos from our Business Immigration Team to assist employers in preparing for the new regime. To view the rest of our series click the below link:

Brexit & the forthcoming changes to the UK’s immigration system

In this video we provide an introduction to our Business Immigration video series. This is part of a series of short videos from our Business Immigration Team to assist employers in preparing for the new regime. To view the rest of our series click the below link:

Overview of UK’s current immigration system

In this video we provide an overview of what the UK’s immigration system currently looks like. This is part of a series of short videos from our Business Immigration Team to assist employers in preparing for the new regime. To view the rest of our series click on the below link:

Environmental pollution: A continuing nuisance?

In the most recent of a series of preliminary hearings in Harrison Jalla and Others v (1) Royal Dutch Shell PLC (2) Shell International Trading and Shipping company Limited (3) Shell Nigeria Exploration and Production Company Limited, the High Court has addressed the complications that arise when there are differing limitation periods within one representative […]

Real Estate and Infrastructure

Podcast series #2 – The future of build-to-rent

Shoosmiths has produced another three-part podcast series on the BTR sector. In this podcast, the second in the series, real estate partner, Choisanne Man, speaks with John German, Managing Director of Residential Investment at Invesco Real Estate, on the impact the COVID-19 pandemic has had on the build-to-rent market, from an investor/funder perspective.

Podcast series #1 – The future of build-to-rent

Shoosmiths has produced another three-part podcast series on the BTR sector. In this podcast, the first in the series, real estate partner, Choisanne Man, speaks with John German, Managing Director of Residential Investment at Invesco Real Estate, on the impact the COVID-19 pandemic has had on the build-to-rent market, from an investor/funder perspective.

Legal challenge to the government’s “radical” planning reforms

On 27 August 2020, campaign group, Rights: Community: Action Limited issued an application for judicial review to challenge the Government’s reforms to the: Town and Country Planning (Use Classes) Order 1987; and Town and Country Planning (General Permitted Development) (England) Order 2015.

Dear s106 TCPA – Happy 30th Birthday!

Hitting the statute books at the very start of the now seemingly distant nineties (think dissolution of the USSR / Madonna – Vogue / Die Hard 2) s106 of the Town and Country Planning Act 1990 has enjoyed headlines, notoriety, praise and many a bun fight in the intervening three decades. It shares many of these with its predecessor: s52 of the TCPA 1971, before being re-badged in 1990 and given a wider makeover in 1991.

Tax

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

Cayman Islands Updated Economic Substance Guidance

Version 3.0 of the Cayman Islands guidance notes (“Guidance”) on the Cayman Islands’ economic substance legislation provides additional assistance in interpreting the International Tax Co-operation (Economic Substance) Law (the “ES Law”).

Pensions Ombudsman update – September 2020

Key areas covered in this edition include: Employer’s automatic enrolment duties; Distress caused by missing contributions; Tax liability for negligent misstatement; and Administrator’s duty to provide correct information. Download the latest edition to find out more details and the impact of these decisions.

eSports and taxes – Switzerland

eSports – the competitive playing (so-called gaming) of computer and video games – such as Counter-Strike, Fortnite, Call of Duty or Fifa – is enjoying growing popularity in Switzerland. The number of gamers is large even in Switzerland, but the number of professional players – e-athletes, as well as eSports event organisers or eSports organisations […]

Technology, Media and Telecommunications

The UK National Data Strategy: a new strategy for a new beginning?

On 9 September 2020 the Government published its new national data strategy for consultation. This follows EU policy reviews in the key areas of cloud computing and AI along with the publication of its own data strategy in February of this year, raising important questions about alignment with the bloc post-Brexit.

A better future – What next for the Solent region?

As part of our ‘Future Cities’ campaign, Shoosmiths is holding a series of virtual ‘think tank’ discussions with prominent local stakeholders in different locations across the UK to share insights and ideas around what the future holds for these locations.

The Romanian draft law on the authorisation of 5G technology manufacturers and its effects on competition: a challenge for mobile operators and competition regulators

A draft law on measures relating to information and communication infrastructures of national interest and the conditions for the implementation of 5G networks (the “Draft Law”) was launched on August 4, 2020 for public consultation by the Ministry of Transportation, Infrastructure and Communications and slightly revised on September 2, 2020.

Hong Kong and China: a perspective

Amy Pope explains cyber security, geopolitical, and global business impact of UK opposition to China’s moves in Hong Kong, and what companies can do about it.

The new rules for P2P M&A

Frank Wessely shares his insights on post­ Covid M&A activity in the peer-to-peer lending sector. Peer-to-peer lending platforms seeking acquisition may have to adapt to performance-based valuations, an increased focus on technology and a new cadre of institutional investors, as M&A trends evolve in the post ­Covid world.

Mandatory e-communication for companies seated in Croatia

The digitalisation of the Croatian court system is proceeding and e-communication is expanding. Snail mail and “paper” communication are on the verge of extinction. As of 1 September 2020, all legal entities will have to use e-communication with the court. All legal entities registered in the Croatian Commercial Register must submit information on their e-mail […]

Transport (Including aviation and shipping)

UK secures first major trade deal post-Brexit with Japan

On Friday 11 September the UK and Japan agreed a free trade deal, which is the first major trade deal secured by the UK as an independent nation. The deal took just over three months to conclude and the full text will be available in October.

Enforcement of share charges over Cayman Islands aircraft owning SPVs

The aviation industry has been severely impacted by the COVID-19 pandemic. Although flying has now resumed in a limited capacity, airlines which have already been severely weakened by months of enforced inactivity are now facing a long, slow recovery, and for many the worst is not over yet. We have already seen a number of airlines enter into bankruptcy protection, and more are likely to follow over the coming months as passengers and operators adjust to the realities of flying in the post-COVID era. As a result, financiers and lessors are considering their position and looking at ways that they can improve their rights or enforce their security in a default situation. In particular, there has been an increased focus on the security that a financier would typically take over the shares in a Cayman Islands aircraft owning SPV and how, in practice, a financier can enforce their rights under this share security to gain control of an aircraft from a defaulting owner.

Air transport 2021 – Portugal

Which bodies regulate aviation in Portugal? Transport, including civil aviation, falls within the competencies of the Ministry of Infrastructure and Housing. The two main authorities in the civil aviation sector are the Portuguese Civil Aviation Authority and NAV Portugal EPE…

British Virgin Islands: Aviation finance & leasing

By Audrey M. Robertson What international aviation conventions has your jurisdiction signed and/or ratified? The British Virgin Islands is not a signatory (or party by extension from the UK) to the Rome Convention, the Geneva Convention, the Chicago Convention or the Cape Town Convention. In relation to the Chicago Convention, however, certain provisions of that […]

Angola: shipping law 2020

Marine Casualty 1.1 In the event of a collision, grounding or other major casualty, what are the key provisions that will impact upon the liability and response of interested parties? In particular, the relevant law / conventions in force in relation to: (i) Collision The following international conventions are enforceable in Angola: ■ 1910 International […]

Europe

Visa’s Acquisition of Plaid – Who Benefits Most?

Now that the deal, announced at the beginning of the year, has finally been cleared, what do Plaid and Visa stand to gain from it? Simon De Broise examines the likely impact of the acquisition on the two companies and the financial sector as a whole.

Ireland Update – Use of Electronic Signatures on Regulatory Documents and Forms

In a statement published on 24 August 2020, the Central Bank of Ireland (the “Central Bank”) confirmed to regulated firms that its policy regarding the use of electronic signatures is that, in the absence of any specific legal provisions to the contrary, regulated firms may use electronic signatures in submitting regulatory documents and forms to […]

Protected disclosures: update for employers in Ireland

The recent High Court decision of John Clarke v. CGI Food Services Limited and CGI Holding Limited [2020] IEHC 368 demonstrates the broad scope of the definition of protected disclosures under the Protected Disclosures Act 2014.

Data – how does Brexit affect data coming from the EU?

If the UK leaves the EU without a deal then it’s likely that we’ll become a “third country” under EU data protection laws. This means that, despite having implemented the GDPR, the UK will no longer be deemed to offer adequate protection of European personal data.

The UK National Data Strategy: a new strategy for a new beginning?

On 9 September 2020 the Government published its new national data strategy for consultation. This follows EU policy reviews in the key areas of cloud computing and AI along with the publication of its own data strategy in February of this year, raising important questions about alignment with the bloc post-Brexit.

EU-US Privacy Shield for data transfers ruled as invalid

The Office of the Data Protection Authority in Guernsey (ODPA) has warned companies in the Bailiwick to be aware of the recent Court of Justice of the European Union (CJEU) judgment which affects all businesses who transfer personal data outside of the Bailiwick and the European Union (EU).

International briefings

Renewable Expansion Act (EAG)

Review draft published – a first overview! On September 16, 2020, the eagerly awaited draft of the Federal Law on the Expansion of Energy from Renewable Sources (Renewable Expansion Law – EAG ) was submitted for assessment. As a contribution to the realization of the goals of the Paris Climate Protection Agreement 2015, the draft creates new framework conditions for the expansion of renewable energies in Austria. The present article gives an initial overview. Details will follow in focus articles and in our virtual series of events

Recognition and Assistance for PRC Insolvency in Hong Kong

Synopsis A recent case in Hong Kong, has demonstrated both the ability and willingness of common law courts to recognise insolvency appointments made by the courts of the People’s Republic of China (‘PRC’), and to grant appropriate assistance at common law. It is to be hoped that this proven track record will pave the way for easier recognition of common law court appointed liquidators in PRC, where, unlike in common law countries, such recognition is subject to the principle of reciprocity.

Tale of three funds

This article explores the collapse of three funds across three different jurisdictions and then sets out some of the lessons to be learnt by directors and fund managers.

Should trustees be worried about global warming?

Climate change will no doubt continue to be a worldwide topic of concern and will impact us all. The science is clear and reinforced by the extremity and increasing frequency of recent climate-related disasters such as typhoons, flooding, drought and, of course, the tragic wild fires in Australia. If that sounds alarmist, remember that in 2018 California had the deadliest forest fires in its history while over 100 people died in wild fires in Greece.

Big Data and Big Brother: How general counsel cope with artificial intelligence in an era of economic nationalism

According to the 2019 Lex Mundi Summit keynote speaker, Professor Olaf Groth, the emerging geopolitical order will not be determined as in the past with hard military assets and occupation of physical territory, but by AI capabilities used to manipulate real world outcomes through cyberspace. Already we are seeing a competition for preponderance of AI capabilities to magnify the influence of competing social-ideological systems. Much is at stake.

US & the Americas

EU-US Privacy Shield for data transfers ruled as invalid

The Office of the Data Protection Authority in Guernsey (ODPA) has warned companies in the Bailiwick to be aware of the recent Court of Justice of the European Union (CJEU) judgment which affects all businesses who transfer personal data outside of the Bailiwick and the European Union (EU).

#freefortnite: new platforms, old problems

Epic wants to pay a lower commission. Apple and Google do not do without the 30%. The problem is that, on these matters, the EU competition authorities have avoided intervening.

Schrems II: Your questions answered

Recently we hosted a webinar delving into the recent Schrems II judgment of the Court of Justice of the European Union (CJEU). Perhaps unsurprisingly, there were many questions from attendees.

Mid-Atlantic appeal: Finetuning Jersey LLCs for US alternative investment funds

Jersey’s new LLC structure is mainly aimed at the US market, particularly for alternative investment and hedge funds, and its introduction by the Jersey Government is part of a deliberate US-focussed strategy intended to position Jersey as a suitable entrepôt for American investment into European assets, building on the nearly £200 billion of US assets already administered in Jersey.

Offshore

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

A practical guide to setting up a family office in Jersey

Around the world family offices are growing in number. Family offices are increasingly becoming the organisation of choice for very wealthy families because they can be tailored to meet the individual needs of the families establishing them.

Cayman Islands Updated Economic Substance Guidance

Version 3.0 of the Cayman Islands guidance notes (“Guidance”) on the Cayman Islands’ economic substance legislation provides additional assistance in interpreting the International Tax Co-operation (Economic Substance) Law (the “ES Law”).

Asia

Hong Kong and China: a perspective

Amy Pope explains cyber security, geopolitical, and global business impact of UK opposition to China’s moves in Hong Kong, and what companies can do about it.

Turks and Caicos releases Sri Lankan refugees from detention after 10 months

On 20 August 2020 and during the hearing of what was the third writ of habeas corpus in respect of “smuggled” Sri Lankan national and 1 Indian nation, the Minister of Border Control and Employment notified his decision that all remaining Sri Lankan, and one Indian national, detainees being held at the immigration centre in Providenciales would be released subject to conditions that he wished to impose.

There’s no place to wind-up like home

This briefing discusses the recent judgment in Scanty Investment Company v Brilliant Functions Limited [2020] HKCFI 498, in which the High Court of Hong Kong held that it would generally be unreasonable for a shareholder to wind-up a foreign company with no place of business in Hong Kong if it has an alternative remedy for unfair prejudice at the company’s place of incorporation.

Stability is key for Asia as investors look for certainty

At the beginning of 2020, the economic outlook for the Asia-Pacific region was relatively promising. There were lingering fears regarding the outcome of the US-China trade war, but global trade and industrial output looked to have bottomed out in late 2019, offering hope of a recovery in 2020. All eyes were on China, the largest economy in Asia – if China performs well, the positive spill-over would boost economic growth, trade and welfare in the Asia-Pacific region as a whole.

Africa & Middle East

Angola: shipping law 2020

Marine Casualty 1.1 In the event of a collision, grounding or other major casualty, what are the key provisions that will impact upon the liability and response of interested parties? In particular, the relevant law / conventions in force in relation to: (i) Collision The following international conventions are enforceable in Angola: ■ 1910 International […]

Antitrust review 2021 for Mozambique

The competition framework was introduced in Mozambique in 2013 and has, since then, been completed and complemented by a few legislative acts. Even though the new framework mirrors, to a large extent, EU and Portuguese competition law, it remains to be seen how its provisions will be interpreted and effectively implemented by the Competition Regulatory Authority. The first steps towards the operationalisation of the competition enforcer were taken in April 2020, when the Mozambican government appointed Mr Júlio João Pio as President of the Board of the Competition Regulatory Authority.

Equatorial Guinea – Law on tax incentives

On 7 July 2020, the Parliament passed Law 1/2020, setting forth tax incentive-related measures applicable to all taxpayers, resident and non-resident individuals and companies with tax debts towards the State of Equatorial Guinea.

Angola: amendments to the personal income tax code

Law no. 28/2020, of 22nd July, 2020, approved several amendments to the Personal Income Tax (“PIT”) Code. Among the several amendments, we highlight the following: • Taxable Base • Broadening of the taxable base to all rights, benefits and pecuniary or financial advantages earned by employees or service providers, work related and not included in […]