Latest Briefings

New legislative regime for virtual asset service providers

The Virtual Asset (Service Providers) Law, 2020 was gazetted on 25 May 2020 and will come into force upon issue of a commencement order in due course. The Law represents Cayman’s first legal framework for the registration, licensing and supervision of virtual asset service providers conducting business in the Cayman Islands.

Dishonesty: A change of approach

On 29th April 2020, following the decision in the case of R v Barton and Booth [2020] EWCA Crim 575, the Court of Appeal identified that the two-limb test for dishonesty as identified in the case Ghosh, is no longer the approach to be taken.

Cybersecurity requirements for licensees

Entities regulated under the Insurance Law will need to implement cybersecurity measures in proportion to their cyber risk profile by 27 November 2020 following the release of the Rule and Statement of Guidance on Cybersecurity for Regulated Entities by the Cayman Islands Monetary Authority on 27 May 2020.

Wirecard – has the German financial regulator lost its immunity?

The German regulator BaFin is being sued for abuse of authority following one of the biggest fraud scandals of the decade with German payment processor, Wirecard AG, filing for insolvency owing €3.5bn and its chief executive arrested on suspicion of accounting fraud and market manipulation. This article explores the situation and considers the need for change.

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Legal Executives get a shot in the arm

Executives’ status has been given extra weight but the concept of manifest disadvantage is questioned, says Roger Pearson. Legal executives have had their status strengthened by an Appeal Court ruling. The ruling in Barclays Bank v Coleman, leaves no doubt that if a legal executive has been given the backing of his principals his advice […]

B&M offers free advice to developing countries

Baker & McKenzie is offering free legal advice as part of its pro bono initiative to help developing countries. The project, aimed at countries including Rwanda and Zambia, is being run in conjunction with the firm’s World Trade Organisation (WTO) Group. According to the WTO there are 48 least developed countries (LDC) of which only […]

Litigation Writs 24/1/99

Solicitors Nicholas Bennett and David Saunders, formerly practising as Nicholas Bennett and Co, are suing Michael and Diane Ivey, of Duras, France, for £32,488.33 and interest in respect of the sale of a property. The claim says the solicitors were instructed to complete the sale of property belonging to the Iveys and to discharge the […]

…as Edge Ellison gains two partners

Edge Ellison is snapping up two partners from Edward Lewis. The firm is hiring employment partner Brendan Murphy from Edward Lewis and is also set to take on the dissolving firm’s sports unit head, Michael Breen. Breen, a partner in the corporate commercial and sports law department, is in talks with the firm and is […]

Financings

Linklaters & Alliance acted as UK and Dutch adviser to Dresdner Bank AG on a loan facility to Energis UK. The firm also represented Kleinwort Benson Securities in a US capacity on the equity placing of £312m-worth of Energis’ ordinary new shares to fund the purchase of Dutch-based company Enertel. Tom Wells

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