Commentary

In-depth analysis and opinion about UK law firms and the national and global legal market.

Supreme Court upholds NCLAT judgement ruling that insolvency proceedings may be invoked against corporate guarantor before proceeding against the principal debtor

On 11 February 2019, the Supreme Court dismissed the Civil Appeal bearing No. 1484 of 2019 filed by Rai Bahadur Shree Ram and Company Pvt. Ltd. (the shareholder and promoter of Ferro Alloys Corporation Limited) and affirmed the landmark judgment passed by the National Company Law Appellate Tribunal (NCLAT) in the matter of Ferro Alloys […]

Guernsey’s new substance requirements – application to the funds industry

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 not reflect real […]

Dispute resolution lawyers stress importance of board minutes in regulatory investigations

By Mathew Newman, Alex Horsbrugh-Porter, Sandie Lyne, Michael Rogers Today Guernsey dispute resolution specialists Michael Rogers and Sandie Lyne presented to the NED forum on the topic of regulatory investigations, providing advice on strategies and protocols which non-executive directors should consider when an investigation is underway. In particular, the talk highlighted why keeping board minutes […]

Trade secrets in Slovenia

The new Trade Secrets Act will enter into force on 20 April, introducing further clarity to Slovenian legislation with a renewed definition of business secrets. The new Act comprehensively regulates business secrets, as it uniformly defines the concept of a business secret – which was, until now, regulated in several sector-specific acts. In the event […]

Cross-border transactions with related parties on the tax radar in 2019

By Branimir Rajsic The Serbian Tax Administration (the “TA”) recently issued the annual plan on tax audits for 2019 (“Plan”), published on the TA’s website. According to the Plan, the focus will be on the following: taxpayers incorporated by non-residents with significant related-party transactions, in particular control of the application of double taxation treaty provisions, taxpayers […]

Doing business in Russia

Let us introduce you this ‘Doing Business in Russia’ publication prepared by GRATA International law firm in Moscow. The information in the brochure is based on theoretical and practical information available as of April 2019. The content of this brochure is intended for foreign businessmen and companies seeking to do business in Russia.

English court refuses permission to turn over witness statements and disclosure documents to the US Federal Bureau of Investigation

By Robin Henry, Jean-Martin Louw In ACL Netherlands BV & Ors v Lynch & Hussain [2019] EWHC 249 (Ch), the High Court has recently declined a party’s request for permission to disclose witness statements and other documents obtained in the course of ongoing UK proceedings. Such permission had been sought in order to comply with a subpoena […]

Pooling resources and risk: Key considerations for retail joint ventures

By James Crayton, Gwendoline Davies To survive – even thrive – in uncertain times and in a challenging market, retailers need to be open-minded to opportunities for improving efficiency and targeting growth. One option that many high street names are choosing in the current market is the joint venture. Retail joint ventures – practical considerations […]

Debt capital markets 2019

By David Lopez, Adam E Fleisher, Julian Cardona 1. What types of debt securities offerings are typical, and how active is the market? The most common debt securities offerings in the Portuguese market consist of bonds, notes, covered bonds, commercial paper and certificates of deposit. In general, debt securities in Portugal are issued by corporates […]

Busy lenders’ round-up – April 2019

By Deborah Sheldon The latest news and developments in retail mortgage lending and regulation. This month in summary: News Concerns over discrimination in the private rented sector Innovation in the private rental sector Housing Committee report calls for reform of leasehold in England and Wales Tax bills drive second charge lending surge Increase to FOS […]

FCA business plan 2019/2020 – an overview

By Michael Ruck On 17 April 2019, the FCA issued its Business Plan for 2019/2020 which sets out the regulator’s key priorities for the coming 12 months. We’ve prepared a brief overview of the plan to give you a quick idea of how the changes will affect your firm in practice over the next year. […]

Direct marketing and consent FAQs | GDPR periscope series

By Emma Erskine-Fox, Brian Craig Direct marketing questions continue to befuddle marketers and data practitioners alike. Whilst marketing success and GDPR compliance are not mutually exclusive, the interplay between different pieces of legislation can make this a confusing area. A year after marketing consents were refreshed, below we answer four of our most commonly-received marketing […]

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