Related briefings

Green ambitions for post-Brexit UK financial services

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

Latest Briefings

Voluntary disclosures program update – The new normal

The Canada Revenue Agency voluntary disclosures program (VDP) has been around for decades. While the VDP has changed periodically, perhaps the most significant change occurred when the new Information Circular IC00-1R6, initially published on December 15, 2017, became effective on 1 March 2018.

Section 160 liability – Damis Properties Inc. v. The Queen

In Damis Properties Inc. v. The Queen, the Tax Court of Canada (TCC) found subsection 160(1) of the Income Tax Act inapplicable because the appellants and their former subsidiaries were dealing at arm’s length at the time of the transfer of the subject property. The TCC further concluded that, even if subsection 160(1) applied, the liability of the appellants under paragraph 160(1)(e) was nil because they gave fair market value consideration.

Private wealth – the potential for impact

“It is good to have money and the things money can buy, but its good too to check up once in a while and make sure you haven’t lost the things money can’t buy.” – George Lorimer

Nitrate neutrality

Developments on hold, trips to the High Court, nutrient credit schemes… Ever since a European Court of Justice ruling in November 2018, being nitrate neutral has caused headaches and blockages for developers and planners.

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

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Kirkland and DAC act on first take-private since start of lockdown

Kirkland & Ellis and DAC Beachcroft have landed roles on the first public-to-private deal to hit the London Stock Exchange since the start of the coronavirus lockdown. The deal involves Castleton Technology, an IT software manager to social housing providers, acquired by MRI Software, a portfolio company of TA Associates, GI Partners and Harvest which […]

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Freshfields and Kirkland in action as Debenhams lines up administrators

Department store Debenhams has revealed its intention to appoint administrators, with Freshfields Bruckhaus Deringer and Kirkland & Ellis among the firms acting on the lengthy restructuring process. The department store filed a notice of intent to appoint administrators early this morning, with FRP Advisory working on matters related to an administration. Freshfields has been acting […]

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Macfarlanes and Simmons lead on sale of Covid-hit publisher

Macfarlanes and Simmons & Simmons have led on a recent magazine publishing company takeover, as coronavirus hits the printing world. Macfarlanes advised private equity firm Epiris on the sale of TI Media, a large UK publisher, to media company Future. The Bath-based buyer, meanwhile, was advised by Simmons & Simmons. TI Media, formerly known as […]

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Macfarlanes and Weil Gotshal lead on Ritz Hotel sale

Macfarlanes and Weil Gotshal & Manges were the two firms leading on the sale of the iconic Ritz Hotel completed late on Friday evening. The acquisition means an unnamed Qatari investor now owns the Ritz hotel on the same night that the property closed its doors for the first time in more than 100 years […]

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Macfarlanes joins magic circle duo on Aston Martin’s £500m rescue

Slaughter and May, Freshfields Bruckhaus Deringer and Macfarlanes have all landed roles on the rescue of Aston Martin by Canadian billionaire Lawrence Stroll. The luxury carmaker was advised by a Freshfields team led by corporate partner Mark Austin, which also included partners David Ludwick, Giles Pratt and Adam Gallagher. Aston Martin’s Italian shareholders sought counsel […]

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