Jersey Royal Court blesses the momentous decision of the representative of minor and unborn beneficiaries to settle claims against a trust

In its recent decision in the Matter of the A Trust and the B Trust [2021] JRC 019, the Royal Court considered for the first time the blessing of a momentous decision of a Court-appointed representative of minor and unborn beneficiaries of a trust to enter into a settlement agreement in respect of claims against the trust.

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Will 2021 be the year of special purpose acquisition companies (SPACs) in Luxembourg?

While SPACs have existed for decades on public markets, a revival seems to be taking place, with SPACs representing about 60 percent of IPOs in the US in 2020. February 2021 saw the launch of the first Luxembourg SPAC in more than 10 years, highlighting the potential for Luxembourg to become the European hub for this type of funding structure. The jurisdiction not only offers a flexible and tax efficient legal framework but also the ability to rely on the European passport mechanism set forth in the Prospectus Regulation.

Using provisional liquidation offshore to preserve bondholder claims under keepwell deeds

Offshore companies are frequently used to facilitate debt finance transactions for large PRC based corporate groups. In the context of a bond issue, the corporate group will often incorporate an offshore subsidiary for the sole purpose of acting as the bond issuer. Bondholders, naturally, expect some form of credit protection, which the offshore subsidiary cannot […]

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Chinese giant Jingsh to launch London office

Beijing-headquartered Chinese firm Jingsh is in the process of setting up a base in London as part of its rapid expansion in China and abroad. Jingsh will join a small number of Chinese firms to have a presence in London. The firm’s new London office is spearheaded by corporate partner and chief representative You Yong, […]

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Freshfields’ hourly rates criticised after “indecent” legal bill

Freshfields Bruckhaus Deringer is facing accusations of racking up an “indecent” legal bill after it revealed projected costs of almost £7m in the case of Roman Pipia v BGEO Group Limited. The claimant, represented by Steptoe & Johnson, recently described BGEO Group’s legal costs as “extraordinarily and unjustifiably high”, while also singling out the charge-out […]

Extra pay or extra holiday: DLA lets staff choose their Covid reward

DLA Piper is offering employees the choice between one week’s pay or an extra week’s holiday to reward them for their work during the pandemic. The “one week thank you” is for all fee-earners and business services professionals at DLA Piper’s international business. In the UK alone this amounts to around 2,000 employees, covering both […]


Ashurst to dish out £1,000 one-off bonus

Following the likes of Simmons & Simmons and Norton Rose Fulbright, Ashurst has said it will pay its staff a one-off bonus reward after strong performance last year. The firm has doubled the size of its existing bonus pool in order to make the payment of at least £1,000 to employees worldwide. According to its […]

Reed Smith Broadgate Tower

Reed Smith gauges opinion ahead of potential London move

Reed Smith has kicked off a series of initiatives to figure out an approach to its real estate footprint, as talks around the future of its London HQ get underway. Early this year, the firm sent out a detailed survey to examine the ideal office environment its staff wish to see in the future. The […]

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