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.

Recommended

Fortnum & Mason hires its first GC from John Lewis

Fortnum & Mason has appointed John Lewis’s former head of legal, Georgina Service, as its first ever general counsel. The luxury Piccadilly department store, which previously had no in-house counsel, will take on Service at the end of June. It made the decision to recruit a GC to help manage growth in a sustainable and […]

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Former Davis Polk partner joins Facebook as new GC

Facebook has found a new general counsel to helm its in-house legal functions after its top lawyer Colin Stretch left the company at the end of last summer. The role has been filled by Jennifer Newstead, whose career has spanned both law firm stints and government duties. She was the first woman to head the […]

Chantelle Zemba

Deliveroo names new GC following exits

Deliveroo’s head of corporate and compliance Chantelle Zemba has been named as the company’s new legal head following the exit of its chief legal officer Rob Miller. A former Norton Rose Fulbright senior associate, Zemba first joined Deliveroo in 2016 as part of a five-month secondment, later climbing the ladder through the specialist employment team […]

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