Virgin reviews panel after twelve months

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Latest Briefings

Future of public procurement in UK in the event of ‘no-deal’ Brexit

By David Kilduff, Richard Auton or Richard Butterworth On 13 September 2018, the UK government published further guidance on the future of public procurement in the UK in the event of a “no deal” Brexit. What next for UK public procurement? Under current rules, all procurement opportunities that fall within the scope of the EU procurement […]

Third party redevelopment – Landlord may oppose tenant’s lease renewal

By Matthew Lonergan, Lucy Shepherd A recent case has confirmed that a landlord was entitled to oppose its tenant’s lease renewal under the Landlord and Tenant Act 1954 where redevelopment of the site was to be undertaken by a third party. Background The case of Santander UK PLC v LPS Estates Ltd concerned the security of […]

Sunset of £500K, dawn of GDPR enforcement and horizon of Brexit

By JP Buckley In just a short space of time, the ever-evolving world of data protection and cyber has seen yet more change: 1. Potentially one of the last enforcement actions under the Data Protection Act 1998 against Equifax – and a maximum £500,000 fine for them for failing to secure UK citizens’ personal data against […]

Officer of judgment debtor can be committed for failure to provide information under CPR 71 – Court of Appeal

Deutsche Bank AG v Mr Alexander Vik [2018] EWCA Civ 2011 This judgment is the latest instalment in the long-running litigation between Deutsche Bank (“DB”) and the Monaco-based billionaire, Alexander Vik. In 2008, Mr Vik’s personal investment vehicle, Sebastian Holdings, Inc. (“SHI”), incurred huge debts to DB after it made a series of heavily loss […]

BVI to implement changes to rules governing SPCs registered under BCA

By Michael Killourhy The British Virgin Islands (BVI) will shortly implement some important changes to the rules governing segregated portfolio companies (SPCs) incorporated or registered under the BVI Business Companies Act, 2004 (BCA). These changes, introduced by the BVI Business Companies (Amendment) Act, 2018 (the 2018 BCA Amendment Act) will come into force on 1 October […]

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Orrick looks for further growth in Los Angeles with new office head

Orrick Herrington & Sutcliffe has appointed real estate partner Michael McAndrews as head of its Los Angeles office McAndrews has specialised in real estate-related matters for more than 20 years. His practice counts corporates, financial institutions, investment companies and real estate developers among its clients.John MacKerron, managing director for offices, said: “Mike’s strong leadership skills […]

Norton Rose reneges on partner payments

Cashflow problems hit partners by up to £100K each; firm rejects bank loan Norton Rose has run into a cashflow crisis and has failed to pay its equity partners their full profit share for the financial year ending April 2001. It is understood that partners are owed up to £100,000 each.Partner drawings have continued to […]

Deals summary

Allen & Overy (Riccardo Sallustio) advised Banca Popolare di Milano on a e27.3m (£17.3m) loan to 21 Invest 5, part of the Benetton Group for the acquisition of a minority stake in design solution company Permasteelisa. 21 Invest 5 advised by Bonelli Erede Pappalardo. Watson Farley & Williams advised NIB Capital and Bank of Scotland […]

ABP counsel scoop almost £3m in fees

Counsel acting for Associated British Ports (ABP) in a public inquiry have negotiated vast fees totalling almost £3m The fees for the lead counsel alone – Birmingham set 5 Fountain Court’s highly-rated Martin Kingston QC – totalled around £1.5m.Negotiators took an almost unprecedented 18 months to finalise the fees. Kingston’s juniors – Andrew Newcombe of […]

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