The unprecedented effects of coronavirus, and the consequential widespread travel restrictions and ‘stay-at-home’ measures, are causing severe pressures on the cash flow of many trading companies. This is causing listed companies to consider alternative ways of raising capital on an urgent basis, resulting in a resurgence in the popularity of cash box structures. This note sets out a summary of cash box transactions and the benefits of using a Guernsey cash box company.
Many practitioners will appreciate that Jersey is a self-governing Crown Dependency with constitutional rights of self-government and judicial independence. It follows that orders made in the courts of England and Wales are not enforceable as of right in this jurisdiction. We focus in this article on three common scenarios we see when such cross-jurisdictional considerations arise and the steps you can take to ensure that the terms of such an order are honoured.
Many companies are facing new and challenging circumstances given the fast-moving COVID-19 situation. It is likely that during the coming weeks you and your fellow board members will be called upon to make difficult decisions. This is a critical time during which it is imperative to ensure you are focused on the key issues and equipped to act prudently and in accordance with your duties.
The C Trust (the Trust) was established in 1965 for the benefit of the Family. The Trust’s terms provided that the protector held the power to appoint trustees. Certain beneficiaries (the Family), erroneously believing they had power to appoint trustees in place of the two protectors identified in the trust deed, invalidly sought to exercise the power. This led to a chain of invalid appointments over 20 years and had potentially significant consequences for the Trust’s administration.
In the current economic climate, there is a pressing need for cross-jurisdictional co-operation when it comes to the Courts’ involvement in restructuring and insolvency proceedings. An increasing number of Hong Kong companies are finding themselves in need of urgent assistance with restructuring and insolvency processes; this requires international co-operation where, as is often the case, such companies are incorporated in offshore jurisdictions.
The first thing cabin crews tell you is that if you experience a crisis on a plane, put your own oxygen mask on first before helping others. And yet, when a crisis hits in business, how many actually follow this advice?
Do you believe everything you see? No matter how discerning or intelligent you are, we are all pre-programmed to be more accepting of information in certain contexts than others. While most of us are wise to the ‘Nigerian prince’ phishing scams of old, we are less likely to question an email from someone we know. We might question news on a website we’ve never seen before – but not in a publication we know well. And if we follow somebody high-profile on a social media platform we’re familiar with, like Instagram, chances are we take what they say at face value. It’s precisely because of this that mainstream media recently described influencer and celebrity accounts as ‘the gateway drug to fake news’.
In a significant decision, HMRC v Inverclyde Property Renovation LLP and Clackmannanshire Regeneration LLP  UKUT 0161 (TCC), the Upper Tribunal has upheld HMRC’s powers to issue a notice and commence an enquiry into returns submitted by a limited liability partnership (LLP).
A number of exceptional measures have been introduced in the justice sector. These measures are set out in Law 1-A/2020 of 18 March and Decree‑Law 10-A/2020 of 13 March (as amended by Law 4-A/2020 of 6 April). The measures include exceptional rules on the extension of time limits and of the periods to take judicial steps. The rules will remain in place until the end of the exceptional situation to prevent, contain, mitigate and treat COVID-19.
Andrew Dinsmore recently appeared for successful shipowners in a s. 69 application concerning the prevention principle and the requirement to give notice or communicate to move the Delivery Date under the SAJ Form.
Get your role in front of over 300,000 legal professionals when you advertise with The Lawyer. Our team of experts provide bespoke solutions to help solve all your recruitment challenges.Find out more
DWF’s share price dropped nearly 20 per cent today following the departure of CEO Andrew Leaitherland, making it one of the biggest fallers on the London Stock Exchange. Leaitherland’s exit from the world’s largest listed legal outfit was announced this morning; at which point DWF’s share price started off at just over 76p. However, a […]
World Cup of Chambers The final is entering its last few hours – there’s still time to vote here. Below are a few of the lengths that finalists St John’s Buildings and Pump Court Chambers have gone to in order to win your vote, plus a few of our other favourite Tweets from the final. […]
Firms’ post-pandemic visions are already diverging “We won’t ever go back to how we worked before Covid” – the message from Slater & Gordon, which will leave its current London office for a much smaller one when its lease expires this autumn. The firm will rely much more on remote working in the future. Contrast […]
It was during a jog to Hogan Lovells’ deserted HQ that the magnitude of the current situation hit home for Michael Davison, who starts as deputy CEO at the transatlantic outfit this summer. “It’s going to be unbelievably fiddly getting people back,” says Davison, “the biggest challenge is how and when we think they will […]
Nicholas Plant, Dentons Last month saw the sale of Imperial Brands’ premium cigar business, including a number of its most famous Cuban cigars, to two entities backed by private equity investors. Asides from the inevitable challenges brought about by Covid-19, a series of hoops needed to be jumped through to get the deal over the […]
Pinsent Masons is set to stagger working hours and break times for employees that are returning to the office, however, encouraging UK staff to work from home still forms the “backbone” of the firm’s response to Covid-19. For the past month, a tailored taskforce has been looking at how Pinsents can reopen its offices on […]