Latest Briefings

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.

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.

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Clifford Chance goes to $190,000 to match Cravath in New York

Clifford Chance has become the first magic circle firm to announce that it is matching Cravath’s salary scale in its US offices. An internal memo shared with The Lawyer said that salary increases would take effect from 1 July. While Milbank Tweed Hadley & McCloy became the first firm to announce it would pay its […]

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Clifford Chance leads on bumper fintech listing for PayPal rival

Clifford Chance has advised on one of the largest IPOs in Continental Europe this year, tapping into a trend of tech companies pursuing public listings. The magic circle firm won the mandate from Dutch fintech company Adyen, which hosts payment platforms for companies such as eBay, Uber and Netflix. Adyen turned to magic circle partner […]

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A&O and Clifford Chance called in for £1.6bn Virgin Money bid

Allen & Overy (A&O) and Clifford Chance are advising in takeover talks between Virgin Money and the owner of Clydesdale Bank (CYBG) in a move that could create Britain’s largest “challenger” insititution. A&O is representing Virgin Money, led by corporate partners David Broadley and George Knighton, as well as M&A partner Seth Jones, who specialises in […]

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Sanctions force Akin Gump to step down in $1bn oligarch case

Akin Gump Strauss Hauer & Feld is to step down from representing oligarch Viktor Vekselberg from September, triggering a search for new legal counsel. The move comes as sanctions imposed by President Trump’s administration continue to have an effect on high-stakes litigation worldwide. It is understood that the firm has been granted a temporary licence by the […]

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