Carey Olsen advises Strategic Risk Solutions on acquisition of Robus Group Based in Guernsey and Gibraltar, Robus Group offers professional management services to captive insurers, open market insurers, reinsurers, insurance intermediaries, MGAs, ILS fund managers, and other corporate entities. The company supports these clients in achieving their risk management and strategic business goals ...
Pension funds: hedging longevity risk Bulk Annuities Market Recent hikes in interest rates have led to huge increases in the funding levels of many UK defined benefit pension schemes (DB Schemes). Now they are in surplus, many DB Schemes are considering a bulk annuity transaction or "buy-in". As a result, the bulk annuity market is booming ...
In preparation for H-1B CAP Registration season, the Department of Homeland Security (DHS) has issued a final rule that limits each foreign worker to one entry into the H-1B lottery system. The H-1B Registration process had previously required companies, or other petitioners, to register with the U.S. Citizenship and Immigration Service (USCIS) and submit their requests for the individuals they sought to sponsor as part of the H-1B process ...
Carey Olsen advises Align Partners Capital Management on formation of latest fund The Fund is sub-managed by Seoul-based Align Partners Capital Management, Inc. ("APCM"), an activist fund manager renowned for applying a bottom-up, long term “Private Equity Approach to Korean Public Equity Markets” investment strategy focused on listed Korean equities ...
By: Leah Lively and Alexandra Shulman The Fair Labor Standards Act (FLSA) mandates that employers compensate employees for each hour worked. Nonetheless, the Department of Labor guidance permits rounding of employee time punches so long as, among other things, the rounding is conducted in a neutral manner and, if any favor is shown, it benefits the employee. For example, using rounding, if an associate clocked in any time from 7:53 a.m. to 8:07 a.m ...
Shoosmiths' Natalie Aldread explores two recent cases and their implications for break options and the renewal of a business tenancy under the Landlord and Tenant Act 1954 It is often assumed that where renewal of a business tenancy under the Landlord and Tenant Act 1954 has not been opposed, the bar is reasonably low to include a landlord’s break option in the new lease. Two recent cases do, however, indicate that this is not always the case ...
A core aim of the Building Safety Act 2022 (BSA) is to ensure the real estate industry - rather than leaseholders or the taxpayer - meets building safety expenditure. One way this is to be achieved is by introducing the Building Safety Levy under s.58 of the BSA. The government has now moved one step closer to the implementation of the levy with the recent publication of a consultation outcome and the publication of a third consultation - closing on 20 February 2024 ...
In this follow up article we will explore how the crypto sphere has advanced since the previous article, revisit some of the predictions we made and identify key legal updates in the crypto market and what those updates mean for the insolvency world ...
Shoosmiths' real estate experts explore commonly encountered issues and also tips and traps for providing and receiving replies to Commercial Property Standard Enquiries. Replies to Commercial Property Standard Enquiries (“CPSEs”) are designed to provide practical information about the property to assist buyers and tenants with their due diligence ...
In another step forwards for consumer protection regulation, the UK’s Department for Business and Trade has confirmed further amendments to the Digital Markets, Competition and Consumers Bill to tackle deceptive trading practices in the digital realm. Following a comprehensive consultation into consumer transparency, the proposed laws will target ‘drip pricing’ by banning unavoidable hidden charges and make fake reviews illegal ...
The Supreme Court of Texas has issued its much-anticipated opinion on an open attorney’s fees question in the area of First Party Property appraisals. The issue came to the Texas Supreme Court on a certified question from the 5th Circuit and considers the practical effect of the Texas Legislature’s 2017 amendments to the Texas Prompt Payment of Claims Act, Chapter 542, Insurance Code ...
Strengthened collaboration between BVI and PRC: a precedent of enforcing a PRC arbitral award Background In Window of Trade, the Claimant applied to the BVI Court to enforce the Award in favour of the Claimant. The Award required the Second Defendant to return 100% of the equity in the First Defendant, a BVI company, to the Claimant and to assist the Claimant in restoring its name to the register of members of the First Defendant. The Second Defendant opposed the enforcement of the Award ...
Last year, the UK Government announced increases in fees for immigration and nationality applications as well as priority processing services which took effect from 4 October 2023. As mentioned in our previous article, these increases are substantial and likely to have a significant financial impact for applicants and their sponsors. In addition, the UK Government are increasing the Immigration Health Surcharge shortly on 6 February 2024 ...
The recent publication of the 2024 UK Corporate Governance Code introduces several targeted changes in a move to build on the transparency and accountability requirements for corporate practices brought in by the current version of the Code ...
A report published on 25 January 2024 by the Competition and Markets Authority (CMA) reaches the conclusion that contrary to the situation in the USA, aggregate employer market power has not increased in the UK in recent decades. Economic theory identifies that where employer market power is high (typically because in an area there are only a few major employers and limited other choices for workers), the workers are paid less, employers employ fewer workers and production output is lower ...
In December, the Government published MSL Regulations, together with guidance, specifying the minimum number of workers needed to operate public services in times of strike action; for more detail, please see our recent article. With the dispute between the ASLEF train drivers’ union and UK train operators still ongoing, industrial action has now been announced to take place between 30 January and 5 February, with significant disruption expected ...
In the third instalment of our series, we consider the practical elements of the ‘workcation’ concept. As we have seen, working elsewhere may seem like an attractive proposition to employees. They will undoubtedly be keen to take advantage of the opportunity to save precious annual leave entitlement, but it is important an employer sets some ground rules ...
Mamo TCV Advocates will once again be attending Corporate Jet Investor London. Joshua Chircop, Senior Associate, and Aleandro Mifsud, Associate, will be attending the annual business jet conference being held at the Hilton on Park Lane, London between the 5th and 7th February, 2024. Get in touch with us at [email protected] to schedule a meeting with members of our aviation team ...
Background On 20 June 2023 the Norwegian government made a proposal to amend Norwegian law by introducing regulation on gender balance for the board of directors in large and mid-sized private limited liability companies (Nw. aksjeselskaper), as well as certain partnerships, cooperatives and foundations. Previously, such requirements only applied to public limited liability companies, and the purpose of the proposal is, inter alia, to increase the proportion of women in Norwegian board rooms ...
This week, U.S. Citizenship and Immigration Services (“USCIS”) announced a new fee schedule that is slated to go into effect on April 1, 2024. Although it has been seven years since the last comprehensive fee increase, the new fees represent a substantial increase across several different forms and case types. Notable fee increases include: I-129 Petition for H1B nonimmigrant workers increases from the current level of $460 to $780 ...
Jersey Litigation Guide 2024 (Chambers) Contents General Litigation funding Initiating a lawsuit Pre-trial proceedings Discovery Injunctive relief Trials and hearings Settlement Damages and judgment Appeal Costs Alternative Dispute Resolution (ADR) Arbitration Outlook General General Characteristics of the Legal System Jersey is one of the relatively few jurisdictions that have a “mixed” legal system ...
Cayman Islands Litigation Guide 2024 (Chambers) CONTENTS General Litigation funding Initiating a lawsuit Pre-trial proceedings Discovery Injunctive relief Trials and hearings Settlement Damages and judgment Appeal Costs Alternative Dispute Resolution (ADR) Arbitration Outlook GENERAL General Characteristics of the Legal System The Cayman Islands is a common law jurisdiction ...
British Virgin Islands Litigation Guide 2024 (Chambers) CONTENTS General Litigation funding Initiating a lawsuit Pre-trial proceedings Discovery Injunctive relief Trials and hearings Settlement Damages and judgment Appeal Costs Alternative Dispute Resolution (ADR) Arbitration Outlook GENERAL General Characteristics of the Legal System Sources of law As a largely self-governing British Overseas Territory, the legal system of the British Virgin Islands (BVI) is roo
