Shearmans and Stamford joint venture under review

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Latest Briefings

New online court may improve chances of tenancy arrears recovery

By Karl Anders and Lucie Bryan On 6 April 2018 HMCTS publicly announced the launch of a new online service to allow members of the public and businesses to issue money claims, resolve disputes and access mediation via a new online claims service. Known as Civil Money Claims, and available for money claims with a […]

Dress codes in the workplace: new government guidance

By Stuart McBride New guidance entitled “Dress codes and sex discrimination – what you need to know” was published by the Government Equalities Office last week.  It follows the 2016 online petition started by a woman who was sent home from work when she refused to wear high heels. The petition led to a Parliamentary Enquiry […]

Timor-Leste oil and gas: New maritime treaty with Australia

On 6 March 2017, in New York, delegations of both countries signed, before the United Nations’ Secretary-General and Portugal’s former Prime-Minister, António Guterres, the “Treaty Between the Democratic Republic of Timor-Leste and Australia Establishing Their Maritime Boundaries in the Timor Sea”. The new maritime boundaries between the two countries represent, after almost 50 years, Australian’s […]

Portugal: New regime for conversion of unsubordinated credits into capital

Law No. 7/2018 was published on 2 March and created a legal regime for the conversion of unsubordinated credits into capital in commercial companies, or companies adopting a commercial form, incorporated under the Laws of Portugal. The new law entered into force on the day after its publication and clearly aims to provide an extrajudicial […]

Portugal: Exploitation of lithium

Lithium minerals have seen a rise in demand and price since 2011, which became even greater in 2016, and the expectation is that this rise will continue along with the growing demand for electric vehicles. Lithium supply security has become a top priority for technology companies in the United States and Asia and, worldwide, lithium […]

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Ashursts moves in on Railtrack Group after Simmons conflicted

A host of law firms, including Herbert Smith, Ashurst Morris Crisp and Linklaters, are advising on a series of complex transactions with a combined value of more than £1bn to sort out the Railtrack affair. Ashursts partner Chris Ashworth is advising Rail-track Group on the sale of Railtrack plc’s shares to Network Rail for £500m, […]

Akin Gump beats Milbank and Kirkland to scoop WorldCom bondholders role

Akin Gump Strauss Hauer & Feld has won work from a committee of WorldCom’s largest institutional bondholders, seeing off competition from Enron creditors’ committee advisers Milbank Tweed Hadley & McCloy and Chicago-based Kirkland & Ellis.Daniel Golden, head of Akin Gump’s financial re-structuring practice, will advise the bondholders on matters related to WorldCom’s restructuring and possible […]

Al Fayed to appeal ‘cash for questions’ ruling

Mohamed Al Fayed will appeal a decision of the Court of Appeal, which found that the financial backers of former Tory MP Neil Hamilton were not liable to pay Al Fayed’s costs, despite his victory in the ‘cash for questions’ libel action DJ Freeman chief executive Laurence Harris, who is acting on behalf of Al […]

Deals summary

Herbert Smith (Jane Borrows) advised Portuguese rail operator Caminhos de Ferro Portugueses on the issue of €375m (£241m) secured floating rate bonds. The issue was guaranteed by MBIA Assurance, advised by Clifford Chance. Arrangers UBS Warburg advised by Allen & Overy. Slaughter and May (Sanjev Warna-kula-suriya, David Bicknell) advised Home Technology Receivable, a subsidiary of […]

Penningtons' turnover up £1m

Penningtons’ turnover has increased by £1m (5.7 per cent) to £18.5m However, profits per partner are expected to be slightly less than last year’s figure of £143,000 because the number of equity partners has increased from 20 to 36. Property remained the biggest earner, bringing in around 35 per cent of total revenue, with the […]

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