Latest Briefings

Voluntary disclosures program update – The new normal

The Canada Revenue Agency voluntary disclosures program (VDP) has been around for decades. While the VDP has changed periodically, perhaps the most significant change occurred when the new Information Circular IC00-1R6, initially published on December 15, 2017, became effective on 1 March 2018.

Section 160 liability – Damis Properties Inc. v. The Queen

In Damis Properties Inc. v. The Queen, the Tax Court of Canada (TCC) found subsection 160(1) of the Income Tax Act inapplicable because the appellants and their former subsidiaries were dealing at arm’s length at the time of the transfer of the subject property. The TCC further concluded that, even if subsection 160(1) applied, the liability of the appellants under paragraph 160(1)(e) was nil because they gave fair market value consideration.

Private wealth – the potential for impact

“It is good to have money and the things money can buy, but its good too to check up once in a while and make sure you haven’t lost the things money can’t buy.” – George Lorimer

Nitrate neutrality

Developments on hold, trips to the High Court, nutrient credit schemes… Ever since a European Court of Justice ruling in November 2018, being nitrate neutral has caused headaches and blockages for developers and planners.

Bermuda: Three-day registration for special purpose insurers issuing bonds

Bermuda has always provided an efficient process for insurance submissions of all classes, with applications being approved in under two weeks. On 20 August 2021, the Bermuda Monetary Authority issued a notice announcing that enhancements have been made to allow further streamlining of the registration process for Restricted Special Purpose Insurers (“R-SPI”). Now, the licensing and registration processes of R-SPI registrants whose business model is to issue bonds (e.g. catastrophe bonds and mortgage bonds) will be consolidated and registrants can be fully registered within three business days.

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DAC Beachcroft hires four-strong team from DWF

DAC Beachcroft has hired four lawyers from DWF’s London office into its public sector liability team. The hire includes John Palmer, who was a partner at DWF for almost 10 years. He will join in September, while David Weir, Hazel James and Sehresh Jan will join this month. Weir was a legal director at DWF […]

Hot 100 career quiz: Ashurst digital disruptor Tara Waters

Name: Tara Waters Firm: Ashurst Role: Partner and co-CEO of Ashurst Digital Ventures Trained at: Allen & Overy Year qualified: 2009 Read her Hot 100 profile What’s your most vivid memory from being a trainee? I did not do a training contract as I am US-qualified. However, one of the first memories as a lawyer […]

Two online start-ups get new heads of legal

Cazoo has appointed a new head of legal, with Michael Haynes taking up the role as of today. Haynes, who trained at Freshfields Bruckhaus Deringer and has spent time in-house at Zoopla, joins from RVU, where he was a senior legal adviser. He reunites with Ned Staple, the co-founder of Farmdrop, who is now Cazoo’s […]

Victoria's Secret

Linklaters drafted in on Victoria’s Secret administration

Linklaters is acting on the administration of the UK arm of Victoria’s Secret. Restructuring partner Richard Hodgson is acting for Deloitte as the administor, alongside managing associate Damien Gomez and associate Alex Snell. The lingerie brand collapsed into administration on Friday (5 June) as the latest retailer to face challenging times on the high street. […]

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