Related briefings

What not to forget when an employee leaves

There are many practical and ‘housekeeping’ matters that employers need to deal with when an employee’s employment comes to an end, some of which are expressly required by law. In this article we look at some of those issues which can often be overlooked.

Contributed surplus: it’s not capital!

In our previous paper, we discussed the meaning of share premium, the various ways a company may use share premium and its importance when determining the assessable capital of a company. In this paper we discuss contributed surplus, another frequently misunderstood concept which is distinct from and is not to be confused with share premium.

Trustee knowledge: Appointment to beneficiaries

The purpose of private trusts is to benefit beneficiaries and to this extent beneficiaries will often benefit from the trustees appointing trust assets to them. This is provided for at Article 39 of The Trusts (Jersey) Law 1984 (the Law) which states that the trustees have the “power to appoint or assign all or any part of the trust property or any interest in the trust property to, or to trustees for the benefit of, any person, whether or not such person was a beneficiary of the trust immediately prior to such appointment or assignment”.

Latest Briefings

The sustainability of green financing

Maples Group acted for Xiaomi Corporation in connection with Xiaomi’s offering of US$800,000,000 2.875% Senior Bonds Due 2031 and US$400,000,000 4.100% Senior Green Bonds Due 2051 issued by Xiaomi Best Time International Limited, incorporated in Hong Kong and unconditionally and irrevocably guaranteed by Xiaomi Corporation, a company controlled through weighted voting rights and incorporated in the Cayman Islands and listed on the Hong Kong Stock Exchange. The green bonds offering marked Xiaomi’s initial foray into the world of green financing and more broadly Environmental, Social and Governance (ESG). The proceeds of the green bonds are earmarked for ‘Eligible Projects’ within Xiaomi’s finance framework aimed at positive environmental and social benefits. Their framework follows the green bonds and loan guidelines of the International Capital Markets Association.

Guernsey consolidates economic substance and extends it to partnerships

Guernsey has brought partnerships into scope of economic substance requirements for accounting periods commencing on or after 1 January 2022, although partnerships formed on or after 1 July 2021 will be in scope immediately on formation where they conduct activities that trigger the economic substance requirements.

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