<p>Filter Knowledge</p>

Further information on the Electricity Generator Levy ("EGL") has recently been published, including a revised technical note (here), explanatory note (here) and draft legislation (below). Although certain areas remain under consideration, the materials provide much needed clarity on the EGL.

The UK Government confirmed that it intended to put forward a failure to prevent fraud offence in the Economic Crime and Corporate Transparency Bill (the "Bill"). 

Jonathan Gilmour, Peter Hughes and Joseph Wren have co-authored a chapter in the latest edition of Global Legal Insights' annual fund finance publication highlighting the key structural and documentary legal issues that should be considered by a private capital manager thinking about entering into derivatives transactions at fund level. This chapter was first published in GLI - Fund Finance 2023 (Seventh Edition).

By now, most large UK organisations will be familiar with the Energy Savings Opportunity Scheme ("ESOS"), which is the UK's implementation of Article 8 of the EU Energy Efficiency Directive, requiring those in scope to measure and audit their energy use. In anticipation of ESOS reporting deadline later this year, we outline the main changes to Phase 3, and how they may impact an organisation's energy reporting.

Entering the policy debate behind other antitrust regulators, the CMA has signalled that it will give firms more latitude to pursue green collaborations – but the devil will be in detail.

In this recent decision on the interpretation of settlement agreements, the Court of Appeal has confirmed that, where the wording of a settlement agreement and its factual matrix indicate that it is objectively intended to cover claims in fraud and dishonesty, that agreement will be given effect, even where these is no express reference to such claims.

On 14 February 2022 Dr Liza Lovdhal Gormsen, the proposed class representative ("PCR"), filed her application to bring collective proceedings against Meta, alleging that Facebook abused its dominant position by making its users' access to the social media platform contingent on their provision of personal data, which Facebook then aggregated and profited from through advertising revenues.

Travers Smith's Head of Asset Management, Emily Clark and Tax Knowledge Counsel, Ian Zeider have written an article in a recent edition of Tax Journal, discussing the government consultation on the VAT treatment of fund management services.

The EU's Directive on Corporate Sustainability Reporting ("CSRD") was published in its final form in mid December 2022, giving organisations in its scope certainty about when the significantly expanded reporting requirements will apply to them.

Since the introduction of the Corporate Insolvency and Governance Act 2020 (CIGA) and the creation of the new Part 26A restructuring plan procedure, questions have been raised about whether the cost of using such a procedure would restrict its use to larger, better capitalised companies. 

Travers Smith LLP has advised Australian listed travel agency, Flight Centre, on its acquisition of Scott Dunn from Inflexion and other shareholders.

Key case on arbitration law and the separability principle.  

The Government issued a consultation in December 2022 about its proposed changes to the NPPF. These represent the first set of changes to the NPPF that the Government intends to make in order to reflect its levelling-up agenda, and will be followed by a wider review once it has implemented its proposals for wider changes to the planning system, including the Levelling-up and Regeneration Bill.

In the recent case of Samuel and Helen Moore (t/a Moore Farms) v HMRC [2022] UKFTT 411 (TC), the First-Tier Tribunal had to consider whether to permit a late appeal against an HMRC decision after a later court judgment in a different case strongly indicated that that HMRC decision had been incorrect.

Travers Smith LLP has advised the management team of Acuity Knowledge Partners, a market leading business intelligence and analytics provider, on the sale of a majority stake of Acuity Knowledge Partners to Permira, from Equistone Partners Europe.

A regular briefing for the alternative asset management industry. 

Travers Smith LLP has appointed Lucie Cawood as Head of the firm's Private Equity & Financial Sponsors Group. She will be assisted in this role by Will Yates as deputy.

Welcome to the fifth episode in our Spotlight on ESG video series. 

A majority of the Supreme Court recently held that an insolvent company does not suffer any recoverable loss if payments are made from its bank accounts that discharge a debt owed by that company. This decision adds to the growing case law on the Quincecare duty.