Latest Briefings

The sustainability of green financing

Maples Group acted for Xiaomi Corporation in connection with Xiaomi’s offering of US$800,000,000 2.875% Senior Bonds Due 2031 and US$400,000,000 4.100% Senior Green Bonds Due 2051 issued by Xiaomi Best Time International Limited, incorporated in Hong Kong and unconditionally and irrevocably guaranteed by Xiaomi Corporation, a company controlled through weighted voting rights and incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange. The green bonds offering marked Xiaomi’s initial foray into the world of green financing and more broadly Environmental, Social and Governance (ESG). The proceeds of the green bonds are earmarked for ‘Eligible Projects’ within Xiaomi’s finance framework aimed at positive environmental and social benefits. Their framework follows the green bonds and loan guidelines of the International Capital Markets Association.

Guernsey consolidates economic substance and extends it to partnerships

Guernsey has brought partnerships into scope of economic substance requirements for accounting periods commencing on or after 1 January 2022, although partnerships formed on or after 1 July 2021 will be in scope immediately on formation where they conduct activities that trigger the economic substance requirements.

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Damages control

The courts have been busy rooting out the ambiguity surrounding damages for breach of contract claims. Marion Smith examines the most recent takes on these restitutionary dilemmas  All commercial clients, ­making or facing a breach of contract claim, want to know what remedy they can expect a court to award. They used to be told there […]

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Fox Williams leads on £120m fashion IPO

Fox Williams, Irwin Mitchell and Memery ­Crystal have taken lead roles on the proposed £120m IPO of youth fashion ­retailer SuperGroup. SuperGroup, whose labels include Superdry and Cult, turned to longstanding adviser Fox Williams. Capital markets partner James Channo led the team, which also featured relationship partner Stephen Sidkin, employment partner Mark Watson, IT partner […]

BLP hires RBS structured finance expert

Berwin Leighton Paisner (BLP) has hired a former Linklaters banking partner to build up its structured finance team. Matthew Kellett joins the firm today from RBS, where he was UK head of financial structuring, with primary responsibility for the bank’s capital, tax-efficient ­investment and fundraising business. Prior to RBS he worked at both AIG and Linklaters. […]

Addleshaws promotes five in latest partnership round

Addleshaw Goddard has promoted five lawyers to partner, shrinking its round for the second year running. Last year seven lawyers were made up at the firm, down from nine the previous year (26 March 2009). Two of this year’s group are from the firm’s contentious practice, one from business support and restructuring (BSR), one from […]

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Clifford Chance partner duo to run London banking practice

Clifford Chance is set to elect two partners to replace London banking head Mark Stewart. Acquisition finance partners Michael Bates and Rob Lee are expected to be confirmed in a partner vote that concludes today. They will assume the joint position next month and will report to global banking head Mark Campbell. Stewart (pictured), who […]

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