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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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 […]

Gherkin

Kirkland’s City financials reach all-time high of $380m

Kirkland & Ellis’s latest financials have revealed the firm has increased its global revenue by more than $500m, up 19 per cent from last year’s $3.16bn to $3.76bn. Outpacing global growth, London revenue is believed to have hit $380m, rising nearly $100m from 2017’s $300m. Last year, it also hit the dizzying heights of $5m […]

Pinsents targets life sciences and tech with Taylor Wessing hire

Pinsent Masons has bolstered its competition team with the hire of the former UK head of competition, EU and trade at Taylor Wessing. Robert Vidal will join the team at Pinsents, advising on competition law, specialising in life sciences, pharmaceuticals and technology sectors. Vidal’s hire comes one month after a bumper round of promotions at […]

Eversheds debuts litigation tech offering to “propel cases forward”

Eversheds Sutherland has created a litigation technology unit in an effort to produce solutions that will help deal efficiently with high-value and long-running disputes. The unit, called Propel, will be helmed by financial services disputes partner head Nick Rundle and inquiries and investigations partner Sarah Jones. It boasts a combined headcount of almost 13 people; […]

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