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.

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Gold stars

Revealed: The Hot 100 2021

Members of The Lawyer Hot 100 have just two things in common. The first is excellence. Every year, our Hot 100 covers an incredibly diverse mix of legal professionals: scrappers from the rough and tumble of criminal law; sharp-suited corporate dealmakers; intellectuals and silver-tongued advocates from barristers’ profession; the in-house counsel with the ear of […]

Slaughter and May

Slaughters’ hourly fees revealed in latest Government mandate

The hourly rates of a Slaughter and May team involved in a multi-million-pound UK Government mandate were disclosed in public records released earlier this week. The firm won a contract worth £3.9m to provide legal advice and support services to the Ministry of Housing, Communities and Local Government around a project to help homeowners who […]

starling bank

Starling Bank faces discrimination claim from former employee

A former employee of Starling Bank has brought claims of whistleblowing and discrimination against the group, with its general counsel also named as a respondent in the case. Gulnaz Raja, who was deputy secretary to Starling’s board from 2019 to 2020, is taking on the business in the Employment Tribunal a year after leaving. Court […]

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