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I try to learn from the past, but I plan for the future by focusing exclusively on the present. That's where the fun is.

Travers Smith is delighted to have been recommended by the Legal 500 UK Green Guide 2024. The guide is based on client feedback.

After months of negotiations, on 14 December, the EU Parliament and Council reached a provisional agreement on the principles that will underpin the Corporate Sustainability Due Diligence Directive ("CS3D").

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Our ESG timeline archive sets out past UK and EU legal and regulatory developments relating to ESG and wider sustainable business topics from January 2023 onwards. As with the main timeline, the timeline archive can be filtered according to your business type or the relevant ESG theme.

Travers Smith has advised its long-standing client Inflexion on its investment in GlobalData Plc's ("GlobalData") Healthcare division. Inflexion is partnering with GlobalData to carve out its Healthcare division as a standalone entity in a transaction valuing the business at £1.1 billion.

In a recent series of cases, HMRC has successfully argued that amounts paid to managers under a remuneration planning arrangement should be subject to income tax as "miscellaneous income". In HMRC v BlueCrest Capital Management LP and other, we now have the Court of Appeal's take on the issue, and it too has supported HMRC's view. 

Welcome to the latest edition of our quarterly disputes newsletter, which covers key developments in the dispute resolution world over the last three months or so.

At the time of our last COP28 update, we were still waiting to hear what the outcomes would be from several key discussion areas that remained open, including the results of the first Global Stocktake ("GST").

Travers Smith LLP is delighted to announce the promotion of three lawyers to Senior Counsel, effective from 1 January 2024.  

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2023 has been a year marked by high inflation and high borrowing costs, which have increased prices and caused uncertainty in the real estate market. Meanwhile, the Government has kept Parliament busy with a range of new legislation, much of which affects the built environment and investment into it.

A regular briefing for the alternative asset management industry. 

The UK government has announced far-reaching changes to the UK's immigration system which are set to be introduced in Spring 2024 as part of a five-point plan. These announcements follow the release of the net migration numbers at the end of November 2023 which showed levels were at an all-time high.

After many months of speculation and preparation, COP28 got underway last week in Dubai. As set out in our article prior to COP28 commencing, the conference comes at a crucial time in collective international efforts to tackle the climate crisis, with King Charles emphasising in his address to the conference that "COP28 will be another critical turning point towards genuine transformational action".

Travers Smith LLP has advised Red Oak Taverns (Red Oak) on the refinancing of their current debt facilities with HayFin with new facilities from OakNorth Bank (OakNorth).

Introduction

SDR is widely seen as the UK's answer to the EU Sustainable Finance Disclosure Regulation (SFDR), which is currently under review by the European Commission (in fact, we understand that the Commission has an eye on SDR as part of that review). While narrower in scope than SFDR in some respects, it goes further in others insofar as it provides for a set of formal product labels and imposes minimum standards for labelled­ products and non-labelled products that have ESG-related terms in their names (although some will already be familiar with the FCA's ‘Guiding Principles’ for authorised ESG and sustainable investment funds, which sets out expectations in terms of design, delivery and disclosure in relation to such funds).

Travers Smith LLP has advised Rothesay on the £2.7bn buy-in of the Thales UK Pension Scheme.