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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Linklaters

Linklaters PEP falls 5 per cent, as firm eases Covid measures

Average profit per equity partner took a hit at Linklaters over 2019/20, though the firm has said it will pay out a reduced distributions round after deferring it earlier this year. The drop in PEP to £1.61m comes after a 10 per cent spike was recorded in the 2018/19 financial year, in which it grew […]

Freshfields Bruckhaus Deringer

Freshfields’ PEP growth stalls as turnover nudges up to £1.5bn

Freshfields Bruckhaus Deringer‘s revenue crept up 3 per cent over 2019/20, as it became the last magic circle firm to announce its financial results for the past year. While the firm’s turnover has now reached £1.52bn, its net profit has, however, dipped to £685m from £688m. Average profit per equity partner (PEP) stood flat at […]

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