Practice Areas

Payment Service Providers: Are You Safeguarding Customer Funds in Compliance with the Rules?

By Kam Dhillon On 4th July 2019, the FCA released the findings from its recent review of non-bank payment service providers (PSPs). The FCA assessed how well PSPs (i.e. authorised payment and e-money institutions) meet the requirements for safeguarding customer funds in practice, in accordance with the Payment Services Regulations 2017 (PSRs) and the Electronic Money Regulations 2011 (EMRs).

2019 Global Survey on the Commercialisation of Disputes – Cayman Islands

By Paul Smith, Spencer Vickers Q. Are lawyers able to enter into contingency /damages sharing agreements with clients? No, contingency fee agreements are unlawful. However, it is lawful for lawyers to enter a fair and reasonable conditional fee arrangement for an increase in fees to reflect the nature of the risk undertaken by counsel in accepting […]

2019 Global Survey on the Commercialisation of Disputes – Bermuda

Rhys Williams Q. Are lawyers able to enter into contingency/ damages sharing agreements with clients? No. These are prohibited by the Barristers’ Code of Professional Conduct 1981, Rule 96. The Bar Council has proposed allowing conditional/contingent fee structures however no steps have been taken to do so thus far. Q. Recoverability of client costs and/or success […]

Should inheritance tax be simplified?

By Aidan Grant The Office of Tax Simplification (OTS) has published a number of recommendations for how inheritance tax (IHT) could be amended and simplified. While these amendments do not go so far as to shake the foundations of the tax itself, nevertheless the proposals would require all practitioners to come to terms with the […]

Focus on IP Article

Rob Fahrenheim’s article has been published on the ‘Business Game Changer’ website, discussing the importance of protecting your Intellectual Property. Please read the full article below. Why protect your IP? Intellectual property rights are often a business’ best kept secret. Managers are typically well aware of the cost and value of their physical assets, such […]

Malcolm Gammie QC appears in the successful dismissal of an appeal by the administrators of Lehman Brothers

The Supreme Court handed down judgment in HMRC v Joint Administrators of Lehman Brothers International (Europe) (in administration) [2019] UKSC 12 on 13 March 2019.  Malcolm Gammie QC appeared for Her Majesty’s Revenue & Customs with Catherine Addy QC. The issue before the Supreme Court was whether the estimated £5billion of statutory interest that was payable under […]

Standard Life Aberdeen plc – successful outcome in arbitration

An arbitral tribunal established in respect of the dispute between the Standard Life Aberdeen (“SLA”) and Lloyds Banking Group / Scottish Widows (“LBG”) has ruled in favour of SLA. In particular, the tribunal ruled that LBG was not entitled to give notice, on 14 February 2018, to terminate the investment management agreements in respect of […]

Weil Gotshal & Manges

Weil Gotshal rejuvenates banking team with Ashurst hire

Weil Gotshal & Manges has hired a new banking and finance partner from Ashurst to strengthen its City offering. Paul Stewart is to join the US firm from Ashurst’s banking practice. His work is mostly focused on domestic and international transactions, and he has particular expertise in leveraged acquisition finance, syndicated corporate debt and debt […]

Deutsche

HSF recruits in-house veteran from Deutsche Bank

Herbert Smith Freehills (HSF) has brought in a former Deutsche Bank general counsel as a senior adviser in its Perth office. Joseph Longo is joining the firm’s financial services regulatory practice in Australia, with responsibility for clients across the country, as well as more broadly Asia and the UK. He will tap into his longtime […]

Newsflash: Canary Wharf Brexit frustration dispute settled

By Gwendoline Davies, Martin McKeague We reported, in February this year, the High Court’s decision in Canary Wharf v EMA [1] that Brexit will not frustrate (and therefore effectively terminate) the European Medical Agency’s lease at Canary Wharf. The High Court’s decision was generally welcomed because, had the High Court found for the EMA, countless leases and commercial contracts […]

Aeroplane taking off on a sunny day

Magic circle and US firms win roles on Thomas Cook rescue bid

Clifford Chance is among the firms advising as Chinese conglomerate Fosun confirms its proposed rescue bid for airline Thomas Cook. The deal would see investment company Fosun inject £750m into Thomas Cook as part of a proposed recapitalisation and separation of the group. Corporate partner Tim Lewis and finance partner David Towers led from Clifford Chance […]

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