Latest Briefings

Approval of liquidator’s remuneration: a tale of two reporters

A recent Sheriff Court judgment is the latest decision to consider the role and remit of the court reporter in a liquidation which, unusually, involved the court appointing two reporters. In Scotland, the Insolvency (Scotland) (Receivership and Winding Up) Rules 2018 provide that where there is no creditors committee, the remuneration of a liquidator shall […]

Variation to an office lease to allow use as a private members’ club

The Upper Tribunal has allowed a variation to a lease that restricted the use of a property to office use (with minor residential use) so that the tenant could implement a planning permission to convert the property into a private members’ club. Background A user clause in a lease is a restrictive covenant. If the […]

Tax now payable much sooner following a disposal of residential property

From 6 April 2020 significant changes will be made to the deadline for paying capital gains tax (CGT) and filing tax returns in respect of disposals by individuals and trusts of UK residential property. Taxpayers and advisers need to be aware of these changes now. UK property disposals prior to 6 April 2020 Previously, UK […]

Coronavirus job retention scheme: pensions aspects

When considering how to use the coronavirus job retention scheme (CJRS), employers may be wondering what this means for pension contributions and auto-enrolment obligations. This update considers some of the issues. How the CJRS works To access the CJRS an employer will need to designate affected employees as furloughed workers, notify the employees of this […]

Competition law – welcome guidance in a time of crisis

The Competition and Markets Authority (CMA) has published helpful guidance on how it will apply competition law in light of COVID-19. Meanwhile, the government has taken the unprecedented step of relaxing competition law in certain sectors. In the round, these developments offer welcome guidance and comfort – but they also serve as a timely reminder […]

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Morgan Stanley and Deutsche Bank are lead managers

Morgan Stanley and Deutsche Bank are lead managers in a concurrent secondary offering of Elior shares and a convertible bond offering by Elior worth euro227m (£160m) and euro130m (£91.6m) respectively. Lead arrangers represented by Cleary Gottlieb Steen & Hamilton (Andrew Bernstein, Fabrice Baumgartner). Elior represented by Willkie Farr & Gallagher.

Freshfields Munich wins B&M corporate star

Baker & McKenzie in Düsseldorf is losing a top corporate partner to Freshfields Bruckhaus Deringer. `Capital markets partner Hans-Jörg Ziegenhain will join Freshfields’ Munich office before the end of the summer.`Specialising in public and private M&A and private equity, Ziegenhain advises a number of leading corporates, multinationals and private equity funds including Degussa, Bewag, Trevira […]

CC Brussels launches tax practice with PwC team

Clifford Chance is launching a tax practice from its Brussels office with the hire of a partner and team from PricewaterhouseCoopers (PwC) in Belgium. `Thierry Blockerye is expected to join Clifford Chance this month and will set up and head the new tax practice. A spokesperson for Clifford Chance said it is not yet known […]

Bonus points

Major change is taking place in the way that law firms reward staff, particularly the rank-and-file fee-earners. Pay rates and reward structures are being imported from US law firms via their London offices, and are leading to changes within City firms. One of the most noticeable changes is the greater use of bonuses.`While profit-sharing schemes […]

Mills & Reeve names Jeffries for top role as Ogilvy is ousted

Cambridge-based law firm Mills & Reeve has appointed a new managing partner to take over from Duncan Ogilvy, who was voted out after six years in office. `Mark Jeffries, who was previously the head of the corporate services group in Leeds and Birmingham, took over the position on Friday (1 June).`Jeffries, who was managing partner […]

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