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Luxembourg

Fieldfisher opens second European office in two months

Fieldfisher has opened its second European office in as many months, launching new operations in Luxembourg through a lateral hire. The office will be focused on finance and funds, with the firm hiring Ingrid Dubourdieu as its managing partner for the country. She joins from local firm D Law, where she has been a partner […]

Analysis

billable hours

The speed read: what you need to know about the market this week

When Wayne Rooney landed at Manchester United in 2004, the story went that it wasn’t because Sir Alex Ferguson needed another striker, but because Newcastle had put in a bid for the young Evertonian and he couldn’t countenance seeing such an exciting talent anywhere else. That brings us to this week’s news that former SFO […]

Featured Briefings

Officer of judgment debtor can be committed for failure to provide information under CPR 71 – Court of Appeal

Deutsche Bank AG v Mr Alexander Vik [2018] EWCA Civ 2011 This judgment is the latest instalment in the long-running litigation between Deutsche Bank (“DB”) and the Monaco-based billionaire, Alexander Vik. In 2008, Mr Vik’s personal investment vehicle, Sebastian Holdings, Inc. (“SHI”), incurred huge debts to DB after it made a series of heavily loss […]

BVI to implement changes to rules governing SPCs registered under BCA

By Michael Killourhy The British Virgin Islands (BVI) will shortly implement some important changes to the rules governing segregated portfolio companies (SPCs) incorporated or registered under the BVI Business Companies Act, 2004 (BCA). These changes, introduced by the BVI Business Companies (Amendment) Act, 2018 (the 2018 BCA Amendment Act) will come into force on 1 October […]

Relevant loans – HMRC Update

By Aidan Grant HMRC has updated its guidance regarding relevant loans, which may have a significant impact on the wider use of debt financing in offshore estate planning. The industry was just coming to terms with the idea that, where money is made available under a loan for the purpose of (generally speaking) purchasing a UK residential […]

Updates on proportionality of costs in court proceedings

By Gwendoline Davies, Claire Acklam Anyone involved in the conduct of litigation will be aware that the ‘overriding objective’, at rule 1.1 (1) of the Civil Procedure Rules (CPR), requires cases to be dealt with “justly and at proportionate cost”. Unfortunately, the question of what is proportionate continues to cause confusion and dispute.  In this latest […]

Franchise resales – should franchisors be involved?

By Emma Lusty It is a common misconception that a franchise network with a high level of resales is a bad sign. In fact, a healthy resale market is a good sign. It means that franchisees are able to build up profitable businesses which can be sold to recover a return on their initial investment and […]

US raises bar for International Development Finance

By Paul M. Murphy, Mark McAuley Overview: The United States seems to be raising the bar for International Development Finance with the proposed BUILD Act. Through the proposed creation of a new U.S. Government institution, the International Development Finance Corporation, the US looks to create a new paradigm for the developing world – in direct response to […]

Lending money to family and friends? Read this first

By David Asker Key considerations when lending money We’ve looked at some of the key questions you should be asking if you are thinking of lending money. The first consideration you need to make is: can you afford to lend them the sum they need? And if so, when will you need the money repaid […]

Webinar Q&A: Introduction to High Court enforcement for businesses

By David Asker What constitutes an obstruction? An obstruction ranges from locking the building up, to threats with a weapon or physically hiding items away. Essentially it is the obstructing and preventing of an enforcement agent from enforcing the writ of control. We would also consider wasting time and making the agent’s job as difficult as […]

SEBI introduces exemptions for companies undergoing insolvency

By Ashwin Bishnoi, Rohit Ambast Between 31 May to 1 June, the Securities and Exchange Board of India (SEBI) amended a number of securities regulations to provide certain dispensations for listed companies undergoing the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code 2016 (IBC). These amendments follow SEBI’s discussion paper of March […]

Lenders round-up – September 2018

By Richard Hall Landmark decision on Legal Privilege The Court of Appeal has overturned a previous judgment allowing the Serious Fraud Office access to documents shared between the Eurasian Natural Resources Corporation (ENRC) and its former legal adviser Dechert in relation to ENRC’s findings during a criminal investigation into alleged bribery and financial malpractices. The earlier […]

Austria’s Blockchain & Cryptocurrency Regulation 2019

By Thomas Kulnigg, Ursula Rath The Austrian government closely monitors developments in the area of alternative means of financing through distributed ledger technology and other digital assets, such as initial coin offerings (“ICOs”) or initial token offerings (“ITOs”). It tends to apply an open approach to cryptocurrencies, new technologies and fintech, while at the same […]

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