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Latest Briefings

Supreme Court upholds NCLAT judgement ruling that insolvency proceedings may be invoked against corporate guarantor before proceeding against the principal debtor

On 11 February 2019, the Supreme Court dismissed the Civil Appeal bearing No. 1484 of 2019 filed by Rai Bahadur Shree Ram and Company Pvt. Ltd. (the shareholder and promoter of Ferro Alloys Corporation Limited) and affirmed the landmark judgment passed by the National Company Law Appellate Tribunal (NCLAT) in the matter of Ferro Alloys […]

Guernsey’s new substance requirements – application to the funds industry

Like other offshore jurisdictions, Guernsey has implemented legislative economic substance requirements, which came into force on 1 January 2019, to meet a commitment to address concerns raised by the EU Code of Conduct Group on Business Taxation that Guernsey’s corporate tax system could facilitate offshore structures aimed at attracting profits which do not reflect real […]

Dispute resolution lawyers stress importance of board minutes in regulatory investigations

By Mathew Newman, Alex Horsbrugh-Porter, Sandie Lyne, Michael Rogers Today Guernsey dispute resolution specialists Michael Rogers and Sandie Lyne presented to the NED forum on the topic of regulatory investigations, providing advice on strategies and protocols which non-executive directors should consider when an investigation is underway. In particular, the talk highlighted why keeping board minutes […]

Trade secrets in Slovenia

The new Trade Secrets Act will enter into force on 20 April, introducing further clarity to Slovenian legislation with a renewed definition of business secrets. The new Act comprehensively regulates business secrets, as it uniformly defines the concept of a business secret – which was, until now, regulated in several sector-specific acts. In the event […]

Cross-border transactions with related parties on the tax radar in 2019

By Branimir Rajsic The Serbian Tax Administration (the “TA”) recently issued the annual plan on tax audits for 2019 (“Plan”), published on the TA’s website. According to the Plan, the focus will be on the following: taxpayers incorporated by non-residents with significant related-party transactions, in particular control of the application of double taxation treaty provisions, taxpayers […]

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Brum council law team scoops work from firms

The age of austerity has seen local authorities’ legal budgets slashed by as much as a third, throwing down a huge challenge for legal heads to keep their departments afloat. While some have resorted to widespread redundancies and others have merged with fellow councils’ legal teams, Birmingham City Council is the latest legal department to […]

Finland’s Peltonen merges with LMR after losses

Finnish firms Peltonen Ruokonen & Itäinen and LMR have merged, creating an almost 50-lawyer strong firm. Peltonen LMR will provide its domestic and international clientele with services in all areas of Finnish business law. The move follows the departure of Peltonen’s bankruptcy team, which formed its own boutique. Peltonen managing director Tomi Merenheimo and corporate […]

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May the best man win

When any client walks out the door in favour of a rival lawyer it is going to be disappointing. The decision by Mukhtar Ablyazov to ditch his lawyers at Stephenson Harwood (SH) in favour of Addleshaw Goddard was a bitter pill for SH to swallow (see story). Not only is the client understood to have […]

Camerons’ Bristol insurance team depleted by RPC raid

Four insurance and reinsurance partners are set to leave the Bristol office of CMS Cameron McKenna in a mass defection to Reynolds Porter Chamberlain (RPC). Jeremy Barnes, Joe Bryant, Simon Chandler and Peter Mansfield have told Camerons that they intend to join RPC at the end of their notice period, although the timescale is unclear. […]

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Clydes strengthens Asia construction practice prior to BLG merger

Clyde & Co has hired a construction partner from Stephenson Harwood’s Hong Kong office ahead of its November merger with Barlow Lyde & Gilbert (BLG). Gilbert Kwok joins Clydes as a partner in the firm’s Asia construction practice, bringing experience of advising developers and contractors in both contentious and non-contentious matters. He has advised a […]

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