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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.



Dechert and the SFO back in the headlines

All eyes are on what the Serious Fraud Office will do next after it appeared to have pulled off a major coup in signing a Deferred Prosecution Agreement (DPA) with Airbus. The aerospace giant has agreed to pay fines totalling £3.05bn to authorities in the US, France and UK over allegations it used external consultants […]

Dechert strengthens in restructuring with Shearman hire

Dechert has replenished its financial restructuring capabilities with a Shearman & Sterling hire based in London. Solomon Noh joined the Philadelphia-based firm after 17 years with Shearman, where he has represented investment managers in financial restructurings, financings, and mergers and acquisitions. Noh has had particular experience working on the creditor side in many of the […]

Dechert partner rejects “preposterous” allegations over hacked emails

Dechert’s white collar co-head Neil Gerrard was questioned in the High Court this week, as part of a wider claim being pursued by a UAE investment fund against a former CIA operative Farhad Azima. Gerrard was quizzed over the alleged hacking of Azima; a hack that is said to have exposed fraudulent behaviour on Azima’s […]

London city

Cadwalader in the City: Start, stop, start again

Poor old Cadwalader. The US firm has just posted a drop in its London office revenue for the second year in a row, down 4 per cent from $43.1m to $41.3m. And while it’s only fair to say that it’s been hiring recently, it is equally true that Cadwalader is also still dealing with the […]

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