Latest Briefings

An apple a day keeps taxation away?

The General Court (GC) of the European Union ruled in favour of Apple in the state aid case regarding Apple’s Irish tax structure, annulling the 2016 decision of the European Commission (EC). As a result, Ireland is at present not obliged to reclaim the amount of EUR 13 billion from Apple. The decision is not yet final due to the EC’s right to appeal.

Service out: helpful rulings for claims involving international finance

In the recent related cases of Punjab National Bank International Limited v Vishal Cruises (Private) & others and Punjab National Bank International Limited v Passat Kreuzfahrten GmbH & others, the defendants’ challenges to jurisdiction were rejected. In so doing, the English Commercial Court provided helpful rulings for international banks in the context of applications to serve proceedings out of the jurisdiction, including the place for performance of guarantees, compliance with laws local to the finance obligors, and in relation to service under the Hague Convention.

Furloughed employees redundancy pay protected

The government has announced that it is introducing a new law which will require that redundancy pay for employees on furlough leave is based on their normal rate of pay.

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Thelen Reid prepares dissolution vote

Thelen Reid Brown Raysman & Steiner held a crisis meeting today (28 October) to discuss the dissolution of the firm. The US firm’s 13-member partnership counsel called the meeting to discuss dissolution with the full partnership. A Thelen spokesman confirmed: “The meeting has been called by the firm partnership counsel to recommend a vote for […]

Exchange on course to match 2008 revenue

North West set Exchange Chambers has posted a turnover of £9.19m in the first six months of the 2008-09 financial year. This tops last year’s half-year figure of £8.7m and suggests that the set is on target to match last year’s turnover of £18m, which was an increase of almost 10 per cent on the […]

Taylor Wessing in lay-off talks with six staff

Taylor Wessing has entered redundancy consultations with four lawyers and two secretaries in its real estate department. A spokesperson for the firm said: “We will over the next two weeks be discussing the process with them and trying to identify alternatives to redundancy before we reach a point of making final decisions”. She added: “If […]

The blame game

Light-touch regulation has been blamed for the credit crisis – but it’s still the best system there is, argues Duncan Black People ask if the regulators were asleep ;when ;subprime ­mortgages were created. The answer is that they were not asleep but their attention was elsewhere, doing things such as looking for insider dealers and […]

Herbies taps A&O for Moscow finance hire

Herbert Smith has hired a senior associate from Allen & Overy’s Moscow office in a bid to shore up its local finance capacity. Ed Baring joins Herbert Smith as a partner, taking the partner headcount in the office to nine. Herbert Smith’s Moscow managing partner Allen Hanen said in a statement: “Russia has one of […]

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