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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Dentons

Dentons furloughs over 100 staff in UK and Middle East LLP

Dentons UK and Middle East LLP has furloughed over 100 staff in its offices and suspended partner distributions due to the Covid-19 crisis. The firm confirmed that 50 employees in business services and around 65 secretaries will be on furlough at any one time, and that those affected would be rotated. Dentons continued that the […]

Penelope Warne

CMS delays salary reviews but holds off furloughing

CMS has delayed partner profit distributions for the year 2019/20 to the autumn, the last among the biggest international firms to announce financial management measures to tackle the Covid-19 crisis. Distribution for the last financial year were meant to happen in July, but will be instead delayed until an unspecified time between late autumn and […]

osborne clarke

Osborne Clarke promotes five-strong cohort

Osborne Clarke has made up five new partners, promoting lawyers across all three of its UK offices. The firm has announced a slimmer round as opposed to last year, when it promoted eight partners. The promotions happened across its corporate and private equity practices, as well as project finance and disputes, with a focus on […]

money

Orrick sets out UK voluntary associate pay cut scheme

Orrick Herrington & Sutcliffe has implemented UK-specific measures to tackle the economic uncertainty of Covid-19. The firm has put in place a salary reduction scheme for associates in the UK that is voluntary and refers to those who have already received their 2020 promotions and salary hikes. Under local regulations, lawyers can accept a reduction […]

allen & overy

A&O promotes over a third of new partners in London

Allen & Overy has made up 29 partners in its latest round of promotions, including 10 in London. The promotions represent 13 offices across the firm’s global network, with the City taking over a third of the spots. It is a slight drop from last year when 14 were promoted in London and 34 globally. […]

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