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

Mayer Brown and BCLP lead on sale of Morgan Stanley’s City HQ

Bryan Cave Leighton Paisner (BCLP) and Mayer Brown acted on Link REIT’s £383.6m acquisition of 25 Cabot Square in Canary Wharf. The acquisition of the 17-floor office complex, which houses Morgan Stanley’s HQ, marks the Hong Kong-based investment trust’s entry into Europe. Mayer Brown acted for Link, Asia’s largest real estate investment trust, led by […]

Lee Ranson

Eversheds’ PEP nudges up 2 per cent to £902,000

Eversheds Sutherland’s turnover for offices outside the US rose by 8 per cent over 2019/20 to just under £600m. The firm’s revenue increased from £548.8m to £592m. Average profit per equity partner too saw an uplift, although growth was slower. PEP nudged up 2 per cent from £886,000 to £902,000. The firm’s profits grew to […]

Hogan Lovells to trial 15 per cent capacity in office pilot

Hogan Lovells is starting to allow between 10 and 15 per cent of its UK staff back into its premises, as part of a trial that will include rotations. The firm has opened premises in London and Birmingham. The pilot runs on a voluntary basis and following a rota system; the numbers of people allowed […]

Orrick’s former London head takes up new role

Orrick’s former London managing partner Kolvin Stone has moved back to Fox Williams, a firm that he left nearly a decade ago. Stone, who also led the European branch of Orrick’s cybersecurity and data privacy group, worked at Fox Williams between 1999 and 2010, at which point he left for the US firm. As well […]

TLT edges closes to £100m turnover milestone

TLT saw its revenue spike up by 13 per cent to £98.8m, in a financial year that so far has seen muted growth across the board. The previous year’s growth pales in comparison to 2019/20. Then, it saw revenue rise by 7 per cent from £82m to £87.6m. In that financial year, former leader David […]

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