Travelling. Seamlessly. podcast series
The impact of the COVID-19 pandemic continues to be felt across the global business community.
Earlier this week HM Treasury published the outcome of its UK Prospectus Regime Review. As proposed in the July 2021 consultation paper, the government will be replacing the current prospectus regime it inherited from the EU Prospectus Regulation. The main aims of the reform are simplifying regulation in this area; making it more agile and dynamic; facilitating wider participation in the ownership of public companies and improving the quality of information received by investors.
Sanctions Update: Further measures taken by UK, EU and US in response to Russia's invasion of Ukraine
Early on the morning of 24 February 2022, the Russian military invaded Ukraine. The full scope of the Russian military operation continues to remain unclear.
As outlined in our previous briefing note on the Corporate Insolvency and Governance Act 2020, a new restructuring tool was introduced in June 2020 in the form of the Part A1 free-standing moratorium (the "Moratorium"). The Moratorium was introduced with the intention of providing companies in financial distress breathing space to allow them to explore restructuring options whilst being protected from the majority of creditor action, similar to the protection afforded to a company in administration. A feature of the Moratorium is the appointment of an independent monitor.
Funds partner, Sam Kay, and Tax partner, Elena Rowlands, have featured in the latest Chambers Global Practice Guides, giving an overview of the current investment funds market and discussing alternative investment funds, retail funds and the recent developments relating to legal, regulatory and tax changes.
The Environmental Protection Act 1990 was a landmark piece of legislation for the real estate sector, establishing legal responsibility for contamination and pollution control for land, air and water, and also regulating waste disposal and statutory nuisances. Our understanding of the threat posed by contamination and climate change has increased significantly in the thirty years that followed, and the long-awaited new Environment Act was finally put onto the statute books in 2021. When it is fully operational, what might the new legislation mean for the UK's real estate industry?
In the third episode of the series, Senior Associate and Business Immigration Law Specialist Moji Oyediran takes a look at the changes to business travel now that free movement rules no longer apply between the UK and EU.
A regular briefing for the alternative asset management industry.
Sanctions Update: UK, US and EU set to impose further and more significant sanctions on Russia following 'full-scale invasion' of Ukraine on 24 February 2022
Early on the morning of 24 February 2022, the Russian military launched a broad military offensive targeting Ukraine. The full scope of the Russian military operation is not immediately clear.
‘Every week two women are killed by their partners and three commit suicide due to domestic abuse.’ With such a chilling opening line, it is no wonder that Travers Smith’s submission for CSR Programme of the Year at the 2021 Legal Business Awards stopped the judges in their tracks.
Sanctions Update: UK, US and EU set to impose first round of new sanctions on Russia in response to escalation of Ukrainian crisis, while Germany blocks Nord Stream 2 certification
During the build-up of Russian military forces on the borders of Ukraine over the course of recent months, the UK and other countries have issued firm statements that any further incursion by Russia into Ukraine would result in additional economic sanctions on Russian entities and individuals. Today, following Russia's recognition of the Luhansk and Donetsk regions of Ukraine as independent (and the corresponding movement of Russian forces into these regions), a number of new sanctions and other restrictions have been imposed – with further measures likely to follow depending on Russia's actions over the coming days and weeks.
For nearly two years the government has been conducting a review of the UK funds regime (the Review) with the aim of making the UK a more attractive location to set up, manage and administer funds and to support a wider range of more efficient investments better suited to investor needs. This review had already yielded some tangible results, in particular the recent introduction of the Long-Term Asset Fund (LTAF) and the development of the new tax regime for qualifying asset holding companies (QAHCs) which is due to come into force in April.
Tax Knowledge Counsel Laura Hodgson has written an article in a recent edition of Tax Journal, discussing the new EU draft directive (ATAD 3) and how it could subject EU entities to additional reporting and adverse tax consequences.
We are delighted to share with you the 2022 edition of our Public M&A Trends publication.
In a ruling made at a hearing on 18 January 2022 in the case of Cambridgeshire County Council v Bam Nuttall Limited & Ors  EWHC 275 (TCC), Mr Justice Waksman gave guidance on the formulation of the list of issues for disclosure (the "LOID") required under the Disclosure Pilot Scheme (set out in Practice Direction 51U ("PD 51U")).
Clear language triumphs: the Court of Appeal's decision in ABN Amro Bank N.V. v Royal & Sun Alliance Insurance plc  EWCA Civ 1789
On 2 December 2021, the Court of Appeal confirmed that: (i) clear wording in an insurance policy could not be overridden by countervailing factors in the factual background; and (ii) a claim could not be estopped where the insurance policy expressly precluded the party claiming estoppel from avoiding liability in the relevant circumstances. The judgment reinforces that, where there is clear and unambiguous contractual wording, the Court will apply it.