10 things every finance lawyer should know about the British Virgin Islands

A quick reference guide to some of the most frequently asked questions arising out of financing transactions involving British Virgin Islands (BVI) companies.

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Moving to the Cayman Islands

Boasting an enviable lifestyle, modern infrastructure and a highly sophisticated financial services industry and all within a short flight of Miami and other US cities, the Cayman Islands check all the boxes for individuals seeking to relocate to a tax-neutral jurisdiction. As a result, the Cayman Islands have evolved into an increasingly popular place of residence for internationally mobile “remote-workers” and high-net-worth individuals from around the world.

Offshore SPACs explained and the benefits

The resurgence of special purpose acquisition companies (SPACs) as an alternative to traditional IPOs was one of the major talking points of 2020. SPACs have become attractive propositions for investors, venture capital firms and private equity funds looking to efficiently deploy capital quickly and enhance their portfolios in an era of low interest rates and market volatility.

Norway Practice Bulletin 2021

The 12 months since our last issue have been very different, to say the least, and something of a roller-coaster with second and third waves of Covid-19.

Latest Briefings

The economic substance requirements for Jersey partnerships

The Taxation (Partnerships – Economic Substance) (Jersey) Law 202- was lodged with the States Assembly on 18 May 2021 and, if passed, is expected to come into effect from 1 July 2021 (with a six month transition period to 1 January 2022 for partnerships established before 1 July 2021).

Tokenized copyrights: Linking an NFT to a copyright licence

In our last report on the NFT (Non-fungible tokens) self-experiment “Formulating a smart contract and minting an NFT”, we looked at what data is packed in a freshly minted NFT. In principle, it is possible to include an entire data set of an artwork (i.e. in our case the GIF) in an NFT and thus on the blockchain. We also pointed out that in our self-experiment we did not only link to the digital artwork but also attached a limited usage licence to the NFT (in the metadata; because otherwise the buyer of an NFT in general will not own any intellectual property respectively rights of exploitation or use to the artwork connected to the NFT).

Virtual Asset Service Providers become subject to registration requirements and AML/CTF obligations

On 23 April 2021, provisions of the Fifth Anti-Money Laundering Directive (5AMLD) were transposed into Irish Law by the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021 (CJA 2021), which amends the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (CJA 2010). Please see our recent briefing for analysis of changes introduced by 5AMLD: New Irish Anti-Money Laundering Rules.

Child maintenance: traps for the unwary

For parents, the child maintenance system can seem a vast and complicated system of ropes and pulleys for something they expect should be straightforward.

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Linklaters

45 PAs to exit as Linklaters wraps voluntary redundancy process

Linklaters has concluded a voluntary redundancy programme for all of its London secretaries and PAs. 45 legal secretaries and PAs in both the practice and business teams in London have chosen to take up the opportunity of voluntary redundancy, the firm has said. A spokesperson for the firm said in a statement: “We are pleased […]

Webinar: “People First, Then Lawyers” – Bringing the O Shaped Lawyer to Life

This free to watch webinar was part of the virtual General Counsel Strategy Summit that took place on 11th – 13th May 2021. If you’d like to watch the recording of this presentation, please complete the form below.   The O Shaped Lawyer Programme exists to make the legal profession better – for those who work in it, for those who use it, and for those entering it.  We are advocating for a transformational change to the skills and culture of the legal profession from legal education right through to leadership, putting people front and centre of our vision for change.  It’s an ambitious vision, but one that has been making waves across the industry over the last 2 years. In this session Dan Kayne, Founder of the O Shaped Lawyer Programme, will be joined by John Skelton (GC Shared Services and Group DPO at Centrica) and Sarah Millington (Divisional Legal Director at Capita) to share the progress of the programme, their experience of the O Shaped Lawyer pilots and to discuss the future of the O Shaped Lawyer.

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Hewitsons and Harrison Clark Rickerbys close to merger deal

Top 200 firms Harrison Clark Rickerbys (HCR) and Hewitsons are in the final throes of a merger deal. The deal is expected complete by the end of May, adding Hewitsons’ Cambridge, Northampton, Milton Keynes and London network to HCR’s nine locations of Birmingham, Cambridge, Cardiff, Cheltenham, Hereford, London, Reading, Worcester and the Wye Valley. The […]

Solicitors Regulation Authority

SRA sanctions Addleshaws trainee and Clydes consultant for drink driving

A trainee solicitor at Addleshaw Goddard and a consultant at Clyde & Co have both been investigated by the Solicitors Regulation Authority (SRA) for separate drink driving offences. The Addleshaw Goddard trainee and consultant Nuno Frota are the individuals concerned, with the former given a rebuke by the SRA while the latter faces a £1,500 […]

budget money cash

City duo join throng of firms repaying Covid loans

Norton Rose Fulbright (NRF) and Travers Smith are the latest firms to confirm repayment of Covid loans that were taken out at the height of the pandemic last year. Both firms’ combined debt increases amounted to £81m in 2019/20, with NRF significantly drawing down on its loan facilities during the first wave of the pandemic […]

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