Is it a fair CoP?

Confirmation of Payee (CoP) checks were introduced on 30 June 2020. The system is a new way for banks to check the account details of a payee (that is the recipient – whether a person or a business – of a bank transfer) before the payment is sent. This helps to avoid a payment being sent to the wrong account, whether as a result of a mistake or a fraud.

Related briefings

Coronavirus Update: Working From Home (again)

A government campaign was launched in early August to actively encourage employees to return to the workplace in an attempt to boost the wider economy and revitalise city centres that had been left empty after months of lockdown. However, within two months, the pandemic appears to have taken a turn for the worse and the government announced yesterday that once again people should work from home wherever possible.

HMRC estate administration investigations

An article in the mainstream press has noted that HM Revenue & Customs has taken an additional £274m in inheritance tax (IHT) from its investigations into 5,638 estate administrations in the 2019/20 year. This is the highest in over 4 years and equates to an additional £48,500 of IHT for each estate which has been investigated.

Latest Briefings

Ukraine relaunches privatisation

September 2020 – Yesterday, 22 September, the President of Ukraine signed the Law which amends the Law of Ukraine “On privatisation of state and communal property” (the “Law”), introduces parliamentary control over the privatisation of state property and “unfreezes” the preparatory procedures to privatise large-scale state-owned objects. The Law was adopted by the Ukrainian parliament on 8 September 2020 and will become effective after its official publication.

Cyprus introduces film production incentives

Producers and media companies are invited to utilise the Cyprus landscape and infrastructure and enjoy a variety of legal, corporate and tax incentives for filming in Cyprus under the new Cyprus Filming Scheme.

Legal guide to pre-enforcement steps under Jersey and Guernsey law

The temporary Covid-19 protections offered by the UK government to businesses to prevent them from being subject to winding up petitions or wrongful trading actions are currently due to expire at the end of September (although an extension is very possible).

Recommended

London

BCLP launches City redundancy round with 40 roles at risk

Bryan Cave Leighton Paisner (BCLP) has launched a redundancy consultation across several jurisdictions, with the firm also set to close its office in Beijing. The merged firm has said it will cut lawyer and business services roles as part of new belt-tightening measures. In London, this includes 14 fee-earners and 26 staff in business services. […]

airplane

Linklaters secures settlement for airlines after quarantine challenge

Following the UK Government’s highly-anticipated air-bridge announcement, Britain’s three major airlines have reached a settlement regarding their challenge to the quarantine rules. With the help of Linklaters, British Airways, EasyJet and RyanAir have put an end to their combined battle against the previous 14-day quarantine, successfully calling for the blanket policy to be removed. The […]

Russia

High Court sides with oligarchs in dispute over Putin ties

The English courts have ruled against a former British spy in relation to allegations made in the so-called ‘Trump dossier’. The claim was brought by three Russian oligarchs as part of a global defamation battle against Christopher Steele’s company Orbis Business Intelligence. Mikhail Fridman, Petr Aven and German Khan brought the case against Orbis, which […]

Brooks Brothers

Weil Gotshal advises Brooks Brothers on Chapter 11 proceedings

A team from Weil Gotshal & Manges is advising US clothing retailer Brooks Brothers as it files for Chapter 11 bankruptcy protection. The US firm has taken legal duties as the company officially started the proceedings in the United States Bankruptcy Court for the District of Delaware yesterday morning. Alongside the firm is Delaware-based Richards Layton […]

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