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

Akin Gump makes first lateral hire of 2020 from Gibson Dunn

Gibson Dunn & Crutcher is to lose one of its leverage finance partners to Akin Gump Strauss Hauer & Feld. Amy Kennedy has been at Gibson since 2015, and is one of three lawyers that the firm has promoted in the last eight years in the City (in 2017). Akin will be the fourth US […]

Solicitors Regulation Authority

Ex-Gibson Dunn partner fails to halt SRA investigation

Former Gibson Dunn partner Peter Gray has lost a bid to stay an SRA investigation into his dismissal from the firm, with the Solicitors Disciplinary Tribunal siding with the regulator. The Dubai-based litigator made the application to put a permanent stay on proceedings yesterday on two counts against the SRA; abuse of power and fair […]

Former Gibson Dunn partner to face SDT over historical SRA investigation

Former Gibson Dunn & Crutcher partner Peter Gray will face the Solicitors Disciplinary Tribunal (SDT) later this month. Gray, who left the US firm in May 2015, is responding to allegations brought against him by the Solicitor Regulation Authority (SRA). He was initially suspended by Gibson Dunn in March 2015, following allegations that he misled […]

Clifford Chance duo exit for Gibson Dunn in Hong Kong

Clifford Chance’s veteran Hong Kong litigation partner Brian Gilchrist has resigned from the magic circle firm and will join Gibson Dunn, as global firms focus on building up litigation practices in Hong Kong. Gilchrist will be joined by fellow litigation partner Elaine Chen as Gibson Dunn’s first major litigation hires in Hong Kong. They will […]

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