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Latest Briefings

Jersey: The Trusts Law 2018 – An insight

By Siobhan Riley, Andreas Kistler The Trusts (Amendment No. 7) (Jersey) Law 2018 (the Amendment Law), which came into force on 8 June 2018, reÊnes and further enhances Jersey’s trusts legislation, the Trusts (Jersey) Law 1984 (the Law). Since its introduction in 1984, the Law has been amended and updated periodically, the last changes having been made […]

Trust legislation in Guernsey

By Russell Clark Much of Guernsey’s economic success over the past 50 years or so has been largely due to its adaptability and flexibility to react to changing market situations and conditions. This adaptability is no better illustrated than by the island’s willingness to amend and review legislation to ensure that it retains its position within […]

Jersey lodges the draft Taxation Law 201

Jersey has lodged the draft Taxation (Companies – Economic Substance) (Jersey) Law 201- (the “Law”). The Law, once adopted, is intended to meet the commitment made by Jersey to address certain concerns raised by the EU Code of Conduct Group on Business Taxation (the “Code Group”) in relation to the need for relevant businesses to […]

Bulgaria: Companies required to register their beneficial owners by February 2019

By Gergana Roussinova Companies have until 1 February 2019 to register their beneficial owners in the Bulgarian Commercial Register and Register for Non-profit Legal Persons (the “Commercial Register“). This obligation comes as a result of the adoption of a new Law on the measures against money laundering in March this year (the “AML Law“). Who is obligated under […]

Importance of prohibition on the collateral use of disclosed documents

By Sonia Tolaney, Sandy Phipps CPR 31.22 provides that disclosed documents may be used only for the purpose of the proceedings in which they were disclosed without the consent of the disclosing party or the Court’s permission. It is well established that this rule, known as the collateral use prohibition, applies both to the disclosed documents themselves […]

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Shoosmiths to split volume, commercial

Shoosmiths is looking at separating its volume business from the commercial part of the firm, with the aim of having two standalone brands. The move, which is ­subject ;to ;a ;partner ­consultation, comes as competition in the volume sector escalates, with firms looking to establish the first post-Legal Services Act brand. Shoosmiths ;chief ­executive Paul […]

Baker Botts breaks $600m with year-end results

Baker Botts has reported a 6.16 per cent increase in global revenue for the past financial year. The Texas-headquartered firm grew revenue from $577.7m in 2007 up to $613.3m in 2008. Baker Botts also grew average profit per equity partner (PEP) by 4.6 per cent from $1.3m up to $1.36m in 2008. The past year […]

Morgan Lewis grows revenue by 8.5 per cent

Morgan Lewis & Bockius has posted an 8.5 per cent rise in gross revenue, taking the Philadelphia-headquartered firm’s turnover to $1.12bn for 2008. Although revenue per lawyer dipped slightly, by 1.2 per cent to $822,000, average profit per equity grew by 1.4 per cent to $1.45m. While corporate work slowed during the year for Morgan […]

DLA Piper layoffs compound US legal market turmoil

DLA Piper has made its second round of layoffs this week, shedding 180 US employees. The international firm has culled 80 associates and 100 support stuff from its US offices. On Monday the firm laid off 30 lawyers and 110 support staff (10 Feb 2009). DLA Piper is one of an unprecedented number of firms […]

The Lawyer’s HR stars

Tomorrow night (Tuesday 10 ­February) The Lawyer is hosting its third HR Awards, designed to ­recognise best practice in people ­management and workplace initiatives. The recession has meant that good HR practice is more vital than ever. The firms shortlisted represent the cream of the crop, ranging from the magic circle to small regional firms, […]

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