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Travers Smith LLP has advised long-standing client Cinnamon Care Homes (Cinnamon Care) on the refinancing of two more luxury care homes in Exeter and Worcestershire with a £23 million facility from specialist lender Leumi UK, increasing their total facilities with Leumi UK to £42.5 million.
A regular briefing for the alternative asset management industry.
On 6 September 2023, the Law Commission issued its Final Report and Bill on the proposed amendments to the Arbitration Act 1996 (the "Act"). The Final Report and Bill followed an extensive consultation exercise, during which the Law Commission published two consultation papers and received feedback from over 100 different consultees. The draft Arbitration Bill is now before Parliament and is expected to enter the statute books later this year as the 'Arbitration Act 2024'.
The UK Government has published its response to the public consultation on its March 2023 AI White Paper, which set out the UK's proposed regulatory framework for AI. Twelve months on from the White Paper, where are we now?
Travers Smith has advised Olsam Group, a leading European eCommerce platform, on its acquisition of Dwarfs, a well-established eCommerce aggregator in the Netherlands.
The EU is pursuing a number of measures intended to combat misleading environmental claims about products and services aimed at consumers. These initiatives underline the need to ensure that the evidential basis for any green claims is robust.
The Government has laid before Parliament the final regulations concerning the funding and investment strategy requirements to be introduced by the Pension Schemes Act 2021 (the "Regulations").
Fraudulent trading is both a civil and criminal offence. The recent judgment of the High Court in Bouchier v Booth provided a helpful reminder of the principles that a Court will apply when considering whether directors have acted in a manner that constitutes fraudulent trading and the high threshold for proving fraudulent conduct.
Travers Smith LLP is proud to announce it has recently achieved ISO 27001:2022 certification which was awarded by BSI who are a leading certification body for ISO standards.
Welcome to our series of podcasts focusing on international employment law.
A regular briefing for the alternative asset management industry.
Introduction
A recent judgment of the Court of Appeal has clarified four important principles relating to the scope of legal professional privilege.
Following a lengthy consultation period, the Financial Reporting Council (the "FRC") recently unveiled its revised UK Corporate Governance Code (the "Code"). As expected from its policy statement in November 2023, the FRC has dropped many proposals that were originally floated, in light of both the Government's withdrawal of the Companies (Strategic Report and Directors' Report) Amendment Regulations 2023 and feedback received during the consultation. As a result, the revised Code is, in the FRC's words, a "limited revision", with the key changes focusing on internal controls.
Travers Smith have assisted Saint-Gobain on the UK aspects of the acquisition of Glass Service a.s., a leading provider of digital solutions for glass furnaces, including advanced control systems and simulation software, which enables customers to reduce their energy consumption.
Since our last briefing, there have been several significant developments which affect the real estate sector, including amendments to previously announced policies (for example, making "full expensing" permanent) and important international measures coming into effect (such as the "GloBE" rules introducing a global minimum corporate tax rate for large multinational enterprises).
In a landmark ruling, the UK Competition Appeal Tribunal has approved a settlement for the first time since the collective proceedings regime was introduced in 2015. The settlement relates to the 'roll on roll off' (RoRo) claim, following-on from the European Commission's 2018 infringement decision against several shipping firms.
The EU Regulation on Digital Operational Resilience (DORA) will apply from 17 January 2025 to most financial entities in the EU. DORA's increased focus on third-party risk management includes detailed requirements for provisions that must be included in existing and new ICT contracts.
Travers Smith's Senior Partner Andrew Gillen has been recognised in The Lawyer's Hot 100, an annual publication which celebrates lawyers based in the UK who have completed ground-breaking work in the last year.
Welcome to our Winter 2024 Update in which we look at the latest developments in the broad field of employee incentives and remuneration and consider what is in store for the year ahead. Do reach out to a member of our team if you would like to discuss any of these issues.