Latest Briefings

Food & Drink Update – September 2020

Guidance on the latest food and drink rules, including post-furlough planning and workforce measures manufacturers, Brexit and the workforce – how to prepare for upcoming changes, protecting innovation in the food & drink industry, and more.

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

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Simpson Thacher hands out $25K bonuses as rivals debate associate pay

Simpson Thacher & Bartlett has become the first law firm to follow Milbank Tweed Hadley & McCloy’s surprise increase in associate salaries, with further bonuses announced for its lawyers worldwide. The scale at Simpson will match Milbank’s, it was announced yesterday. This means first year associates will pick up $190,000 while lawyers with eight years […]

money

Milbank challenges Cravath with bumper increases in associate pay

Milbank Tweed Hadley & McCloy has set a new bar for US associate salaries, increasing newly-qualified pay to an industry high of $190,000. The rise puts it above trendsetter Cravath Swaine & Moore, which last upped associate pay for first years in 2016 to $180,000. Lawyers with eight year PQE will pick up $330,000, based […]

ENRC

SFO blasted for “unhealthy relationship” with Dechert after ENRC “leak”

The Serious Fraud Office (SFO) has been targeted with new legal action from the Eurasian Natural Resources Corporation (ENRC) in a dramatic development to the most important legal privilege case of the decade. The ENRC has decided to extend its claim against former adviser Dechert to include the Government body, demanding the SFO explain its conduct after […]

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