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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Hammonds lures Eversheds partner

Hammond Suddards Edge’s Birmingham office is poaching a high-profile senior employment partner from rival firm Eversheds. David Beswick will run the employment department in Hammonds’ Birmingham office, where there are currently two partners.A third partner, Julia Edwards, is on gardening leave; she plans to join Eversheds’ Birmingham office in the autumn.Beswick, who has been at […]

3i outsourcing decision is sweet music for DWS

Denton Wilde Sapte scooped 3i as a client on its £24m acquisition of a 20 per cent stake in Ministry of Sound.3i’s in-house team handled the bulk of the transaction, but for additional due diligence work the company called in Dentons for assistance.The 3i panel consists of Macfarlanes, Addleshaw Booth & Co, Osborne Clarke and […]

Lovells' focus on Portuguese projects pays off with EIB job

Lovells has broken new ground in Portugal, acting for the European Investment Bank (EIB) on the first monoline-wrapped bond refinancing of a Portuguese shadow toll road (Scut) project.Refinancing arrangements comprise a euro130m (£81.44m) loan from the EIB, a euro126.5m (£79.25m) bond issue and a working capital facility of euro25m (£15.66m), which is provided by Banco […]

Latham & Watkins acts for Ipswich FC investors

Latham & Watkins has won its way back into the burgeoning football club ticket receivables securitisation market after closing its second of only four deals.The firm closed the £25m bond issue by Ipswich Town FC, advising the unnamed institutional investors in the deal.All four of the receivables securitisations so far undertaken by UK football clubs […]

Mishcons brings in SAS to attack investigations

Former SAS, police and government investigators steer the line between ‘evidence’ and ‘intelligence’ Mishcon de Reya regularly uses a crack team of former SAS and other special force personnel to carry out investigatory work for clients including Microsoft and the Scandinavian Den Norske Bank, The Lawyer can reveal.The private investigation company Maxima Group includes former […]

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