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.

Recommended

Time to rethink media coverage rules in employment tribunal cases

The press pack outside the London Central Employment Tribunal is a sure sign that somebody’s reputation is going to be irretrievably sullied by the afternoon’s media coverage. The waiting press pack outside the London Central Employment Tribunal is a sure indication that, within a matter of a few hours, somebody’s reputation is going to be […]

Irwin Mitchell trims partnership after firm review

Irwin Mitchell is to cut around 10 partner roles from its UK offices after a review of the business. The firm said in a statement: “Following a review of the future needs of our business a very small number of partners from across our offices will be leaving Irwin Mitchell. Whilst these decisions are always […]

Todd Foreman

Stockbroker recruits former Labour councillor as first GC

Saville Row-based international stockbroker Makor Group has taken on its first general counsel, appointing lawyer and former Labour party councillor Todd Foreman. Foreman joins the Makor Group as chief legal officer in London. A New York and English qualified lawyer, he worked as an associate at White & Case and Freshfields Bruckhaus Deringer, before moving […]

Eversheds debuts litigation tech offering to “propel cases forward”

Eversheds Sutherland has created a litigation technology unit in an effort to produce solutions that will help deal efficiently with high-value and long-running disputes. The unit, called Propel, will be helmed by financial services disputes partner head Nick Rundle and inquiries and investigations partner Sarah Jones. It boasts a combined headcount of almost 13 people; […]

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