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.

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Addleshaws reels in DWF projects partner

Addleshaw Goddard is bolstering its projects and energy team with a double hire, as it continues apace with a streak of laterals. The firm has recruited longtime DWF projects head Suzanne Moir, who is based in Edinburgh. Moir spent around eight years at DWF, advising on infrastructure and procurement projects in Scotland and the UK […]

London city

Kirkland restructuring partner moves to Ropes

In a rare loss for one of the busiest restructuring teams in the City, Ropes & Gray has picked up a Kirkland & Ellis London partner to revive its restructuring offering. Matthew Czyzyk will join the US firm after two years and a half at Kirkland. Before joining the firm at the Gherkin, Czyzyk had […]

luxembourg

Debevoise opens tenth global office in Luxembourg

Debevoise & Plimpton is the latest US firm to press ahead with European expansion plans, joining a growing number of firms with an office in Luxembourg. Debevoise’s newest outpost will be its tenth overall, and fifth in Europe, focused on private equity, assisting clients with the establishment of funds and regulatory issues. It is the […]

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The great British hire-freeze

A fog has descended on the recruitment market the likes of which has not been seen since the dark days of 2008/09. For a partner on the hunt for a cushty new job, the pickings are slim. More than 10 per cent of the UK Top 50 firms have implemented hire freezes as a result […]

London skyline

Kirkland alumni club: Willkie secures double-partner hire in London

Willkie Farr & Gallagher has secured its long-awaited hire of two partners from Kirkland & Ellis, as they join former colleague Claire McDaid to expand its City private equity team. Gavin Gordon and David Arnold are to join Willkie in the City, following on from the firm’s hire of Dechert tax partner Jane Scobie last […]

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