Do you know the many forms of money laundering? March 31, 2020 | Sponsored In financial circles there is much discussion around money laundering, but the forms which money laundering can take are very rarely explained. So, what is money laundering? It’s the process of making illegally gained money, often known as dirty money, appear to be legal. Money laundering usually involves three steps; surreptitiously getting the illegitimate money [...]
Law and accountancy firms weigh coronavirus profit distribution delay March 30, 2020 Law and accountancy firms are weighing up delaying partner profit distributions to preserve cash to ride out the coronavirus-triggered economic crash. It is one strategy being considered among the Big Four accountancy firms and major law firms such as Linklaters and Pinsent Masons. US law firm Reed Smith, which has a sizeable London operation, confirmed [...]
One in five residential property sales could be affected by new tax laws this April March 30, 2020 | Sponsored From 6 April 2020, a major change to tax payment dates will come into force. It will apply to landlords, second home owners, divorcing couples – indeed any UK resident who sells or gifts a residential property situated in the UK, on which a capital gains tax (CGT) bill arises. At present, individuals who dispose [...]
Now introducing the O-Shaped Lawyer March 30, 2020 An old academic’s joke goes: if you have a complete blank on a historical era, just say it saw “a period of social upheaval and the emergence of a new middle class” — which is always true. A parallel truism could be used of professional services: you can always claim that the focus should shift [...]
How to resolve contract disputes during the Covid-19 pandemic March 26, 2020 The impact of Covid-19 on businesses is unprecedented and profound. Government restrictions and guidelines, the impact on supply chains and the unavailability of staff are all affecting businesses’ ability to comply with contractual obligations. Stewarts has received many requests for advice from companies whose manufacturing plants are being shut down, or whose supply chains are [...]
Tilney and Smith & Williamson merger on brink after coronavirus crash March 25, 2020 The merger between Smith & Williamson and Tilney is teetering on a precipice following the economic shock triggered by the coronavirus pandemic. Wealth manager Tilney – which is backed by private equity firm Permira – announced in September it had agreed to acquire wealth manager and accountancy firm Smith & Williamson in a £625m deal. [...]
Freshfields and Slaughter and May advise government on covid corporate finance facility March 25, 2020 The Treasury and the Bank of England have called up Magic Circle law firms Slaughter and May and Freshfields Bruckhaus Deringer to advise on the government’s emergency corporate covid financing facility (CCFF). The CCFF will purchase commercial paper, a debt instrument, from companies in order to boost their liquidity. It is available to UK companies [...]
Government to push through insolvency reforms as coronavirus crisis bites March 25, 2020 The government is pushing to overhaul insolvency laws to help companies and individuals weather the economic crisis caused by the coronavirus pandemic. The Insolvency Service has begun asking for the views of the restructuring industry about potential urgent changes to company legislation, Sky News reported. The reforms could include a moratorium on winding-up petitions against [...]
All new jury trials halted in England and Wales amid coronavirus outbreak March 23, 2020 The head of the judiciary has ordered all new jury trials to be suspended until systems are brought in to ensure social distancing measures amid the coronavirus outbreak. Lord Chief Justice Ian Burnett said courts had already put in place arrangements to use telephone and video to allow some hearings to continue. But he said [...]
Courts scramble to move online as coronavirus hits trials March 19, 2020 Courts in England and Wales have begun a painstaking move away from physical appearances towards online and telephone hearings as the coronavirus epidemic intensifies. Today, the head of the judiciary, the Lord Chief Justice said: “The default position now in all jurisdictions must be that hearings should be conducted with one, more than one or [...]