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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Simpson Thacher breaks through $200m mark with record London financials

Simpson Thacher & Bartlett has posted a 14 per cent rise in London office revenue for 2019, an increase of some $25m. The growth from $176m to $200.6m is the first time Simpson Thacher has exceeded $200m in UK turnover. Total qualified lawyer numbers rose from 93 to 104, a 12 per cent increase effectively […]

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Cadwalader successfully defends discrimination claim in tribunal

Cadwalader Wickersham & Taft has successfully defended a discrimination claim in the Employment Tribunal, which was brought against the firm by an associate. Ana Maria Knott brought a claim against the firm for indirect sex discrimination. It concerned her return to work in 2018, and whether Cadwalader’s policy of not reducing its billable hours target […]

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Revolut to reveal inaugural panel as part of 2020 in-house strategy

Revolut has started a process to form its first official panel of legal advisers, as the company also launches a hunt for a global legal chief to drive expansion efforts. It marks the first panel review for the fintech company, which has so far been using preferred advisers that were not bound by specific arrangements. […]

Freshfields Bruckhaus Deringer

Freshfields retains 90% of spring qualifiers

Freshfields Bruckhaus Deringer has retained 90 per cent of its qualifying trainees for spring 2020. The firm made offers to 36 of its 39 qualifiers, with 35 accepting newly qualified job offers. Training principal Craig Montgomery said: “We are delighted that we are retaining such a high proportion of our February 2020 qualifying intake. This […]

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John Lewis holds a lesson for lawyers in more ways than one

The John Lewis (JL) Partnership model, occasionally referenced by well-meaning souls wanting to address workforce participation without sounding like Corbynite outriders, is currently looking rather strained. The JL shake-up has so far included a new chairman, a merging of two separate operations, a year-end profit slump, a third of management roles gone, projected savings of […]

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