Switzerland: revised version of corporate tax reform
On 7 June 2018, the Swiss Council of States issued its revised version for a corporate tax reform. It is based on the government’s proposal issued in March 2017. The purpose of this new proposal is to set the basis for new rules on Swiss corporate taxation (the last proposal having been rejected in a […]
The Geneva ICO guide – heading towards a Crypto Lake?
By Hubertus Hillerström, Fouad G. Sayegh and Yacine Rezki The Canton of Geneva has published a guide on Initial Coin Offerings (ICOs) on 28 May 2018 in view of attracting more ICO initiators to the region and strengthening Switzerland’s leading position in this field by adding a «Crypto Lake» hub to the already well-established Crypto Valley between […]
Switzerland and Brazil double taxation agreement
By Maurus Winzap and Martin Busenhart Brazil is the most important trading partner for Switzerland in Latin America, while Switzerland is the sixth largest investor in Brazil. The two countries are now further strengthening their economic ties…
Securing a Swiss forum when threatened with litigation abroad
By Antonio Carbonara and Lukas Fellmann Until recently, Swiss law allowed negative declaratory actions to secure a forum in Switzerland in limited cases only. The Swiss Federal Supreme Court has now changed its position…
A Swiss perspective on the taxation of initial coin offerings
By Marius Breier, Peter Hongler, and Maurus Winzap Recently, start-ups and even well-established companies have become increasingly interested in issuing coins or tokens as a new way to finance their business activities. In an initial coin offering (ICO), also called a token sale or token-generating event, the issuer raises funds from investors based on a […]
Ashurst bets on Europe with Luxembourg launch
Ashurst has been given the go-ahead to open in Luxembourg after receiving approval from the local bar association. The new office, focusing on finance and funds, will open in October this year, with corporate partner Isabelle Lentz at the helm. Lentz is currently the head of Ashurst’s Luxembourg desk in London, which was set up […]
Deloitte secures long-awaited ABS licence ahead of UK expansion
Deloitte has received its alternative business structure (ABS) licence, becoming the last of the Big Four to set up a legal arm in the UK. The Solicitors Regulation Authority (SRA) confirmed that it has granted Deloitte the right to operate as a multi-disciplinary practice. The licence came into effect on the 15 June. The new move will […]
Slaughters advises Santander on FCA ring-fencing scheme
After successfully advising client Barclays on the UK Government’s banking ring-fencing scheme, Slaughter and May has led for Santander as its becomes the fourth major bank to be accepted. The bank was accepted into the scheme following a High Court hearing on 12 June and has committed to transferring all relevant accounts into the ring-fenced […]
Linklaters and Bakers lead on €1bn Cerberus deal
Linklaters and Baker McKenzie have led in the €1.2 billion sale of the world’s largest air cargo handler, Worldwide Flight Services (WFS), to New York based private equity company Cerberus Capital Management. Linklaters corporate partners Ben Rodham and Christopher Boycott acted for Cerberus, which from 2015 has been owned by Platinum Equity. They were supported by finance partners Daniel […]
Latham mulls associate pay hike as talent war heats up
Latham & Watkins looks set to become to the latest firm to boost its associate pay scale as the battle over young legal talent intensifies. Lawyers at the firm are understood to have met yesterday to discuss the salary proposals which, if the firm elects to increase pay, could see associates paid between $190,000 and $340,000. […]
Barclays summons firms to ‘panel day’ ahead of final decision
Barclays has invited 22 firms to a panel day in July, ahead of the final announcement of its last ever formal panel review.