Professional payment guarantee newly introduced in Luxembourg

A new professional payment guarantee law has been introduced in Luxembourg to provide professionals with a tool that grants a wider scope for contractual freedom while protecting the parties from a re-qualification that may not be in line with their legitimate expectations and their commercial agreements.

Related briefings

Employers should prepare for long-term changes to the world of work

There are of course many negatives arising from the crisis presented by COVID-19. However, there could be real benefits for businesses and their staff if we take some of the opportunities that have been presented and do not just look to revert to the old ways of doing things.

EU-US Privacy Shield for data transfers ruled as invalid

The Office of the Data Protection Authority in Guernsey (ODPA) has warned companies in the Bailiwick to be aware of the recent Court of Justice of the European Union (CJEU) judgment which affects all businesses who transfer personal data outside of the Bailiwick and the European Union (EU).

Tale of three funds

This article explores the collapse of three funds across three different jurisdictions and then sets out some of the lessons to be learnt by directors and fund managers.

Guernsey injunctions in aid of foreign proceedings

Where a potential judgment debtor in “onshore” proceedings threatens to dissipate its assets, the plaintiff may face a Pyrrhic victory with no assets against which to enforce its judgment. Where the defendant is a Guernsey company or has assets in Guernsey, the Royal Court of Guernsey has a statutory jurisdiction to grant an injunction in aid of those foreign proceedings including freezing injunctions to prevent defendants dealing with the relevant assets in Guernsey.

Latest Briefings

What role does HR have in protecting staff in the physical workplace?

An increasing number of businesses are choosing to return to the physical office, whether that be once or twice a week, or full time. Either way, it is vital that employers ensure that the work environment meets the strict health and safety standards necessary in order to avoid outbreaks of COVID-19 amongst staff members. This […]

The end of normal? Law firm survey 2020

Our 2020 law firm survey, developed in association with The Lawyer, reveals many law firms were ill-prepared for the seismic shock from the coronavirus outbreak. The crisis has cast an uncomfortable light on firms with poor financial management or without the necessary technology infrastructure. The pandemic already appears to be widening the gap between law firms, with some now under real pressure.

Covid-19 Update – Coronavirus, domestic abuse and legal action

The difficulties with court listings and the inability to hold hearings in a normal fashion has now been underway for 6 months. The recent guidance set out in ‘The Road Ahead’ shows there is no likelihood of that changing in the near future. This means there has had to be a reconsideration of what delays are acceptable and what reasons are sufficient to delay final decisions being made for children.

The rule of six: Legal obligations on food and drink businesses in England

Whilst we have very quickly become familiar with the “rule of six”, regulations come in to force today placing a further legal obligation on businesses in England that serve food for consumption on the premises to ensure that, save for in limited exceptions, bookings of more than six people are not accepted.

Landlord’s remedies and COVID-19 – has the pendulum swung too far?

As another week draws to a close, in a time when every day seems to bring unexpected – and often unwelcome – news, the landlord community is reeling – albeit perhaps largely in a somewhat unsurprised and resigned fashion. This is due to the latest announcements from the government affecting the commercial landlord and tenant relationship.

Recommended

Clarke Willmott hits £50m turnover for the first time since 2008

Clarke Willmott has posted revenue of £51.7m for the 2019/20 financial year. The figure is an increase of £2.3m, or 4.6 per cent, on 2018/19. Profit stood at £11m, down from £11.4 million and average profit per equity partner was £201,000, down from £234,000. The firm’s CEO, Stephen Rosser, said: “I am pleased with our […]

Dentons

2019/20 financials: Dentons posts 4 per cent revenue drop

Dentons turnover for its UK and Middle East regions dropped 4 per cent over 2019/20, with the firm generating just over £221m. The dip follows a 13 per cent rise over 2018/19 in what was the firm’s first full financial year since its merger with Scottish outfit Maclay Murray & Spens, when revenue reached £229.8m […]

2019/20 financials: Brodies posts tenth year of revenue growth

Brodies has recorded its tenth consecutive year of growth, with a 7 per cent revenue increase. Over 2019/20, the firm’s revenue rose from £76.9m to £82m while profits before partner distributions were £38.5m, up from £37.4m the previous year (3 per cent growth). Cash balances also increased from £21m to £25m. Average profit per equity […]

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