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Travers Smith wins UK Pro Bono Initiative at the Legal 500 ESG Awards
Travers Smith LLP is delighted to have been awarded "UK Pro Bono Initiative" at the Legal 500 ESG Awards 2025.
What's Happening in Pensions - Issue 115
Building Safety Levy
The Building Safety Act 2022 ('BSA') gives the Government the power to impose a building safety levy on all new residential buildings in England (the 'Levy').
Travers Smith advises Riviera Travel on its £125 million refinancing
Travers Smith LLP has advised Riviera Travel (Riviera), backed by Silverfleet Capital (Silverfleet), on the refinancing of its debt facilities. The new five-year, £125 million unitranche facility is provided by H.I.G Capital and Triton Debt Investors.
Travers Smith's Alternative Insights: Fixing the European plumbing
A regular briefing for the alternative asset management industry.
In the Pipeline - March 2025
The UK’s tough new consumer regime: is your business ready for the 6 April start date?
6 April 2025 has now been confirmed as the "go live" date for most of the consumer law provisions of the Digital Markets, Competition and Consumers Act 2024 ("DMCCA"). These changes will give the UK one of the toughest enforcement regimes in the world, with the prospect of fines of up to 10% of global turnover on B2C businesses for infringing UK consumer law.
Travers Smith to open in Brussels
Leading independent law firm Travers Smith LLP announces that it is to open a new office in Brussels, the heart of the European Union, further strengthening its international Competition Practice.
FCA Private Market Valuation Review
On 5 March 2025, the UK Financial Conduct Authority published a report (the Report) containing observations and feedback from its Private Market Valuation Review (PMVR). This had been trailed during the previous week in the FCA's Asset Management and Alternatives Supervisory Strategy letter as a key FCA supervisory priority for 2025.
The Use of Online Subscription Agreements in Private Markets
The process of investor onboarding is traditionally labour intensive, time consuming and costly. Completing subscription agreements and collating investor KYC materials can be arduous and can incur high costs for work that is largely process driven.
Will the UK legislate to curb ransomware payments?
The UK Government considers ransomware attacks to be the greatest of all serious and organised cybercrime threats. In response, it has launched a consultation on three measures to reduce payments to cybercriminals and increase ransomware incident reporting.
B2C online terms: another million pound mistake
Paddy Power's consumer terms and conditions failed to protect it against having to pay out over £1 million after an online game mistakenly indicated that a player had won a "Monster Jackpot". We discuss what lessons can be drawn from this dispute and two previous cases involving similar claims for million pound wins. We also look at the wider implications for B2C contracts, beyond the sphere of online games.
Asymmetry of information, "global claims" and "lead cases": the Court of Appeal's decision in the Alame v Shell group action
The Court of Appeal has handed down judgment in an appeal from various case management decisions in the long-running Alame & Ors v Shell plc & Anor [2024] EWCA Civ 1500 environmental group litigation ("Alame 3"). The decision emphasised the importance of parties' freedom to plead their case in a manner of their own choosing and the difficulties that can arise where claimants face an inequality of arms. The Court heard appeals from the first instance decisions in Alame & Ors v Shell plc & Anor [2023] EWHC 2961 ("Alame 1") and [2024] EWHC 510 ("Alame 2").
Travers Smith advises two healthcare REITs in takeovers by US bidders
Travers Smith is currently advising two healthcare REITs - Care REIT plc and Assura plc - on their public takeovers by US bidders, further highlighting the recent theme of consolidation in the London REIT market.