Latest Briefings

Food & Drink Update – September 2020

Guidance on the latest food and drink rules, including post-furlough planning and workforce measures manufacturers, Brexit and the workforce – how to prepare for upcoming changes, protecting innovation in the food & drink industry, and more.

Coronavirus business interruption test case – judgment in the “insurance case of the century”

Flaux LJ and Butcher J today handed down judgment in the test case brought by the FCA to explore whether hundreds of thousands of businesses can recover under their business interruption policies for losses caused by the pandemic, in the “insurance case of the century” – the only claim heard under the Financial List Test Case Scheme. Many of those businesses will, today, be celebrating a fantastic win for them.

Cayman Islands Update: Economic substance guidance notes V3 issued

On 13 July 2020, the Cayman Islands Department for International Tax Cooperation (the “DITC”) issued version 3.0 of the Guidance on Economic Substance for Geographically Mobile Activities (the “Guidance”) pursuant to the ES Law (as defined below). This replaces the previous version 2.0 of the Guidance issued on 30 April 2019.

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High Court judge takes a “wrecking ball” to Pinsents’ SKAT pleadings

Pinsent Masons is facing an increasingly uphill battle in the mammoth Skat litigation concerning 21 separate legal teams, 76 defendants and an alleged £1.5bn fraud. In a recent hearing involving the Danish Customs and Tax Administration (otherwise known as Skatteforvaltningen) and defendants Solo Capital Partners and Goal Taxback Limited, Mr Justice Baker took a “wrecking ball” […]

Apple

Freshfields successfully appeals EU decision for tech giant Apple

EU judges have reversed a European Commission decision, which ordered Apple to pay back €13bn in taxes to the Republic of Ireland. The €13bn penalty in 2016 was the largest ever fine handed out by the commission. It found that for almost 25 years Apple benefitted from illegal state support from Ireland that distorted competition […]

Travers Smith

Travers reduces annual bonuses as part of Covid-19 cuts

Travers Smith has deferred salary reviews and reduced its annual firmwide bonus as part of additional measures to protect the financial stability of the firm. In April, the firm cut monthly partner drawings, with senior partners taking a 25 per cent cut in drawings. It also deferred partner distributions “until the longer-term trading position becomes […]

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Black Lives Matter: an open letter from BCLP London head Segun Osuntokun

I hope that 2020 will be remembered as the year that uncomfortable but important conversations were propelled into the spotlight. Events of the last two months have forced leaders to look at what we can – and must – do better.  As the managing partner of the largest office of a major international firm and […]

London city

A&O finance duo joins Cahill for long-awaited City push

Cahill Gordon & Reindel, which has been on the lookout to expand its City office, has hired two partners from Allen & Overy’s finance team. Global head of A&O’s leveraged finance practice Jonathan Brownson will join the US firm in September alongside Jake Keaveny, who returns to Cahill after six years. Keaveney formerly practised at […]

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