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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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Ashurst to cut partner drawings by 20 per cent

Partners at Ashurst will have their monthly drawings reduced by 20 per cent as part of a firmwide programme to ensure its financial resilience through the Covid-19 crisis. The firm has today announced a Stronger Together programme, which covers all of its 28 global offices in 16 countries and impacts every member of staff, which […]

Osborne Clarke furloughs staff and defers 75 per cent of partner profits

UK partners at Osborne Clarke are to defer 75 per cent of their quarterly profit distributions, with the firm also furloughing staff across its offices. The Lawyer understands that the firm has furloughed more than 100 staff members, though the firm did not comment on specifics. It is understood that the roles affected are all largely […]

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The Virus Diaries: The Withers partner and GC advising on Covid-19 testing kits

Nearly two years ago, Withers – best known for big-ticket family cases, charity mandates or high-end trust planning – bought a 45-person tech firm, JAG Shaw Baker. At first glance, the purchase of the firm was not wholly obvious. JAG Shaw Baker, founded by two ex-Brown Rudnick lawyers James Shaw and Tina Baker, acted mainly […]

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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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