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Covid-19 forces BLM to kick off redundancy consultation

BLM has entered redundancy negotiations as it seeks to stave off the financial threat posed by the Covid-19 crisis. Employees in the costs and business development and marketing teams are set to leave the firm, with approximately 20 roles being made redundant. So far, a total of 170 members of staff have been furloughed at […]

Analysis

bonus money

The Covid Files: How the Top 50 firms are managing…bonuses

The Covid-19 pandemic has forced firms to examine whether their cash position is strong enough to withstand a sudden economic downturn. The Lawyer contacted the UK Top 50 firms to understand how firms are adjusting financial management in response to the Covid-19 pandemic. In this series, we reveal how the market is managing the ongoing […]

Case studies

chambers

Covid-19 case study: how Trinity Chambers tackled the digital challenge

The old saying goes that necessity is the mother of invention, and this has been starkly demonstrated within the legal industry over the past few weeks. ‘Necessity’ here is represented by the Covid-19 pandemic, and ‘invention’ by the rapid pace with which professionals have had to rethink the way that they operate while coping with […]

Legal tech briefings

Approval of liquidator’s remuneration: a tale of two reporters

A recent Sheriff Court judgment is the latest decision to consider the role and remit of the court reporter in a liquidation which, unusually, involved the court appointing two reporters. In Scotland, the Insolvency (Scotland) (Receivership and Winding Up) Rules 2018 provide that where there is no creditors committee, the remuneration of a liquidator shall […]

Variation to an office lease to allow use as a private members’ club

The Upper Tribunal has allowed a variation to a lease that restricted the use of a property to office use (with minor residential use) so that the tenant could implement a planning permission to convert the property into a private members’ club. Background A user clause in a lease is a restrictive covenant. If the […]

Tax now payable much sooner following a disposal of residential property

From 6 April 2020 significant changes will be made to the deadline for paying capital gains tax (CGT) and filing tax returns in respect of disposals by individuals and trusts of UK residential property. Taxpayers and advisers need to be aware of these changes now. UK property disposals prior to 6 April 2020 Previously, UK […]

Coronavirus job retention scheme: pensions aspects

When considering how to use the coronavirus job retention scheme (CJRS), employers may be wondering what this means for pension contributions and auto-enrolment obligations. This update considers some of the issues. How the CJRS works To access the CJRS an employer will need to designate affected employees as furloughed workers, notify the employees of this […]

Competition law – welcome guidance in a time of crisis

The Competition and Markets Authority (CMA) has published helpful guidance on how it will apply competition law in light of COVID-19. Meanwhile, the government has taken the unprecedented step of relaxing competition law in certain sectors. In the round, these developments offer welcome guidance and comfort – but they also serve as a timely reminder […]

Leading and adapting in challenging times: managing a newly remote team

The dynamics of a previously high performing team will shift in response to the recent working from home directive. As leaders we need to understand the factors that will impact even the most resilient and high performing colleagues. It’s likely that high-performing employees may experience varying levels of performance and engagement when they begin working […]

Cryptocurrencies: 2020 and beyond

As the global leader in alternative investment funds and one of the most innovative financial centres in the world, it is unsurprising that the Cayman Islands has quickly become a popular destination for cryptocurrency vehicles and initial coin offerings (ICOs).

UK Government to enhance FCA powers to facilitate LIBOR transition

The UK Government announced on 23 June 2020 that it intends to introduce new legislation to give the UK Financial Conduct Authority (FCA) enhanced powers in circumstances where (i) LIBOR ceases to be representative of the market and (ii) its representativeness cannot and will not be restored. This is intended to solve the problem of “tough legacy” contracts by giving the FCA the power to protect consumers and market integrity in relation to those contracts (which the FCA envisage will be a “narrow band”).

Exiting the Covid-19 haze: assessing business operations in a crisis

In this article, we discuss some of the key areas of focus that business owners and managers should prioritise when undertaking an early assessment of business operations to ensure that productive functions are reflective of a new operating environment. This is especially important where Coronavirus (COVID-19) has led to a significant change in the business model.

European Commission publishes evaluation report on GDPR

The Commission’s report argues that, generally, GDPR has successfully met most of its objectives, in particular by offering citizens a strong set of enforceable rights and by creating a new European system of governance and enforcement. It also, however, identified a number of areas of improvement.

US CLO warehouses – Covid-19 health check

As the market continues to deal with the unprecedented impact of the pandemic on the global economy, we consider the resilience of US CLOs, which were still in the warehouse stage when COVID-19 hit. Since that date, CLO managers have been extremely focused on and, based on our analysis, largely successful in flattening the effects of the loan price decline curve.

Costs and the expert in private children cases

Dewinder Birk of No5’s Family Group has set out two cases dealing with two different aspects of experts’ costs in private children cases, but both of which highlight the robustness of the higher courts in exercising discretion in relation to costs when dealing with such matters.