<p>Filter Knowledge</p>

Travers Smith advises Azets Group on the investment in Azets by PAI Partners

The European Commission issued, on 13 June 2023, a Sustainable Finance Package with a number of additional ESG measures including:  

Travers Smith LLP is delighted to announce the firm will be launching a solicitor apprenticeship programme as part of the City Century initiative.

In its recent decision in Forster v Reynolds Porter Chamberlain LLP, the High Court found that City law firm, RPC, had breached its duty of care to its client, Ms Forster, after failing to keep her adequately informed of costs incurred under a conditional fee agreement ("CFA"). The Court also held that RPC were conflicted in acting for Ms Forster, and that in failing to enforce the settlement agreement in accordance with Ms Forster's wishes, it caused her to suffer loss. The decision serves as a useful reminder that whilst a CFA governs the solicitor's remuneration, it does not alter the duties owed to the client.

Travers Smith has advised long-standing client Piper PE LLP ("Piper") on the fundraising of its seventh vintage fund.

The Government announced on Monday that it will introduce new measures to address Strategic Lawsuits Against Public Participation ("SLAPPs") through amendments to the Economic Crime and Corporate Transparency Bill. The new measures will only address SLAPPs relating to economic crime and corruption, and it is unclear whether the Government intends to address SLAPPs in other fields in the future, or whether it sees this as the endpoint.

Travers Smith LLP has advised MSP Capital (MSP) on a £100 million senior-secured facility with London-based asset manager and private equity firm Pollen Street Capital (Pollen Street).

On 9 June, the European Commission published a draft delegated act containing the European Sustainability Reporting Standards ("ESRS") which will implement the Corporate Sustainability Reporting Directive ("CSRD"). Many organisations are setting out on the journey towards CSRD compliance by understanding how their organisation will need to report (if at all). For those that have already assessed themselves to be in the scope of CSRD, the latest draft ESRS will be of high interest, as they define the scale of the impending reporting task.

The FRC has subsequently stated that it will taking forward only a small number of its proposals.

The Government has announced plans to limit the length of non-compete clauses in employment contracts in Great Britain to three months. This would represent a significant change to the current position.

In this week's issue of Alternative Insights, we are looking at Retailisation and the evolving European regulatory environment.

Travers Smith's asset management team won awards for its expertise in both Fund Finance and Tax at the annual Drawdown Awards yesterday evening - reflecting that the team continues to lead in its tactical and technical advice to the industry.

On 15 June 2023, the scope of the UK criminal insider dealing rules will be extended. Additional markets and financial instruments will fall within the scope of the criminal offence of insider dealing.

Travers Smith LLP has advised Inmarsat, a leading UK based satellite service provider, in relation to its employee and management incentives arrangements on its acquisition by Viasat Inc.

Travers Smith LLP has announced today the promotion of five lawyers to its partnership, with effect from this year.

Travers Smith LLP has advised long-standing client Phoenix Equity Partners on its investment in Logiq, a leading UK-based cyber security specialist.

Share plan annual returns for the 2022/23 tax year need to be filed online by 6 July 2023 in respect of all your share incentive arrangements to avoid penalties (an initial penalty of £100 will be due if a return is just one day late).

In our new Talking. Secondaries. series, we will seek to demystify the secondaries and synthetic secondaries markets and provide insights into the variety of tools available to GPs when looking to provide liquidity to their limited partners and their portfolios.

Environmental, social and governance (ESG) considerations have come to the fore of real estate investment strategy during recent years. In the first of our briefings on this topic, we consider three developments in legislation in the "E" space and how those developments present challenges but also opportunities for the care home and senior living sectors to contribute to the overall debate on how to implement "E" objectives within the built environment. 

In an environment where costs are increasingly unpredictable and escalating, pricing mechanisms based on  cost plus a margin may seem an attractive option, at least for suppliers. But as we explain below, there are a number of pitfalls for the unwary – and it's vital to build in appropriate contractual protections.