In this advisory, we provide a round-up of recent updates to the Cayman Islands framework for automatic exchange of information (“AEOI”) and country-by-country reporting (“CbCR”), including the new universal DITC portal, the AEOI reporting deadline extension, the authorising person and principal point of contact and the CRS compliance form.
Bermudian partners Natalie Neto and Peter Dunlop have been interviewed by Bermuda:Re+ILS on how insurtech will continue to transform the risk transfer industry.
In this piece, Walkers partner Jonathan Heaney – a Jersey funds lawyer and a specialist in open-ended fund structuring – explores the impact of the crisis on liquidity, the mismatch between expectations and reality, and the prospects of further regulatory control in this area.
Alok Sharma, the UK government’s Business Secretary, recently announced significant changes to UK insolvency law in light of the COVID-19 outbreak. These changes, which are intended to protect businesses in what are clearly difficult economic times, pose understandable questions for jurisdictions with insolvency regimes that are modelled on the UK’s and who face similar economic challenges, but may not have seen equivalent emergency legislation.
Whether you are looking to set up a new fund vehicle, want to promote an overseas investment fund in Bermuda or have existing closed- or openended structures, here’s what you need to know. Effective 18 February 2020, Bermuda was upgraded to European Union’s (EU) ‘cooperative jurisdiction’ status Closed-ended funds are now in scope and must […]
Following on from the package of relief measures offered in the personal loan, credit card and overdraft markets, the FCA has confirmed a range of measures to protect customers in the motor finance market.
The government is paving the way for local planning authorities to be able to hold virtual committee meetings.
Landlords will not be able to take possession proceedings in respect of their tenants’ leases in England and Wales during the current coronavirus crisis. We consider how recent measures are impacting on commercial landlords.
Banking & Finance, Capital Markets Interest-free state loans and guarantees Following the first three credit and guarantee initiatives COVID I, II and COVID Prague designed for the small and medium sized enterprises, the Ministry of Industry and Trade (“MoIT”) and the Czech-Moravian Guarantee and Development Bank (“CMGDB”) are now planning a COVID III guarantee. COVID […]
Banking & Finance, Capital Markets Article 23 to 27 of the Capital Markets Law (governing material transactions and minority shareholders, including the right to exit, the offer to buy shares, the obligation to buy shares, the right to sell) will not apply to the transactions of the Turkey Wealth Fund, sub-funds and companies that will […]
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As of this morning, one Conservative lawyer, Carlisle MP and former Bendles partner John Stevenson, has called on Dominic Cummings to resign. The rest are either sticking by him or have made no comment. Among those to Tweet their support for the embattled special adviser are ex-Slaughter and May trainee Simon Clarke, former Skadden and […]
Stewarts has successfully won a fraud case against airline operator Farad Azima, after he was ordered to pay over $4m by a UK judge. Instructed by the investment authority of Middle Eastern emirate Ras Al Khaimah (RAKIA), Stewarts had brought a series of fraud and conspiracy claims against Azima. The case, which featured in The […]
Morgan Lewis & Bockius has ramped up its funds offering in London, with two new partners from Morrison & Foerster. The two partners – Oliver Rochman and Rob Mailer – are bringing two associates with them to Morgan Lewis; Eliska van Wickern and Xun Choong. The four advise sponsors and investors of private investment funds, […]
DLA Piper has re-imagined a new crisis simulation training service that cost over £100,000 to deliver, after its launch was put in doubt due to the outbreak of coronavirus. The training service, called “DLA Piper Project Simulator”, was inspired by Carillion’s liquidation in 2017 and was one of the first products stemming out of the […]
As law firm leaders debate a return to the office, others are still preoccupied with questions of pay and – in some cases – mere survival. Here are the key takeaways. Where Slaughters leads, others will follow Slaughter and May has cut salaries for newly qualified solicitors to a measly £87,000. What can you say […]
Ashurst and Eversheds Sutherland have seen through the sale of struggling Italian restaurant Carluccio’s, after it fell into administration nearly two months ago. Carluccio’s brought in FRP as its administrators in late March, with Ashurst restructuring partner Drew Sainsbury taking the lead from the firm. Today it was announced that Boparan Restaurant Group will take […]