Partnerships

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Latest Briefings

Can settlement agreements be regulated credit agreements? High court decides

By Emily Morton Can settlement agreements be regulated credit agreements, and are lenders at risk of falling foul of the provisions of the Consumer Credit Act 1974 (CCA)? In CFL Finance Ltd v Bass & Others [2019] EWHC 1839 (Ch) the Court looked into whether settlement agreements need to comply with the CCA, and whether their […]

Spotlight on automotive industry: Introduction to the series and financing

By Miriam Simsa, Soňa Hekelová By outsourcing production of major parts of car components, carmakers have also outsourced a substantial amount of their financing needs and associated risks to their suppliers. Still, despite rather slim margins, the prospect of a fairly stable cash flow over a number of years has made the automotive supplier business […]

I am worried that a trustee has mismanaged my trust fund. What can I do?

By Oliver Passmore Trustees are appointed to safeguard funds in a trust, and are duty-bound to act in the best interests of the beneficiaries. While most trustees will carry out their duties conscientiously, occasionally there is mismanagement. There are a number of ways in which a trustee can mismanage a trust fund. This can include: […]

Luxembourg Government submits bill to Parliament implementing the EU Anti-Tax Avoidance Directive 2 into domestic law

By William Jean-Baptiste, Eléonore Galleron On 8 August 2019, the Luxembourg Government submitted a draft law to the Parliament (the Draft Law) to implement the Council Directive (EU) 2017/952 of 29 May 2017 (ATAD 2 or the Directive) into Luxembourg domestic law. As a reminder, ATAD 2 constitutes an update of the Council Directive (EU) 2016/1164 of 12 July […]

Myth busting Jersey trusts and foundations

By Josephine Howe Some may think trusts and foundations are only used by very wealthy people or families, or that by putting assets into a trust or foundation in international finance centres (IFCs) like Jersey, then they are avoiding tax. Some claim offshore trusts and foundations are secretive, and they are used for criminal activity; […]

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Shearman to migrate Hong Kong staff to new Shanghai office

Shearman & Sterling is gearing up to launch in Shanghai within the year, with plans to transfer a large section of its Hong Kong team across to the new office. Beijing managing partner Lee Edwards said the firm expected to have the Shanghai office, its second in mainland China, operational by the fourth quarter of 2006 or the […]

Councils set to take Govt to court over estimates

Local authorities across the country are teaming up to challenge the Government’s population estimates in a row that could land the Government in court. Slough Borough Council is leading the protest from the South and Redcar & Cleveland Borough Council is leading the protest from the North. Redcar’s director of finance and procurement Ray Richardson […]

Travers turnover up 25 per cent

Travers Smith has posted significant increases in both total revenues and profits for the 2005-06 financial year. Turnover at the City firm rose 25 per cent to £68.1m while average profit per equity partner smashed the £700,000 barrier, at £705,000. Managing partner Chris Carroll said trading conditions had been “very benign”. He said the increase […]

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Howard Kennedy and Lydiard win $77m negligence case

Howard Kennedy and Brick Court Chambers’ silk Andrew Lydiard have won the negligence case brought against them by a Portuguese businessman. Antonio Anibale Andrade Baptista Lopes withdrew his claim of $77m (£41.7m) in the High Court this morning (13 July) and agreed to pay both Howard Kennedy and Lydiard costs on an indemnity basis. Lydiard […]

Structural shift

With the advent of LLPs, the Legal Services Bill and the additional option of an alternative business structure, the legal profession should be prepared for a dramatic period of change. By Colin Ives By the end of this year, more than 50 per cent of the top 100 UK law firms will have become limited-liability […]

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