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On 13 May 2022, the European Supervisory Authorities (ESAs) submitted a number of questions to the European Commission relating to the interpretation of the Sustainable Finance Disclosure Regulation (SFDR) and the Taxonomy Regulation (Taxonomy Regulation). Separately, the ESAs have also been asked by the European Commission for their input on possible amendments to the SFDR Delegated Regulation.
Travers Smith LLP acted for the Claimants in these proceedings.
"Fraud on a grand scale; or relentless witch-hunt?": these were the first eight words of Mr Justice Hildyard's mammoth (almost 1,700 page) judgment in the high profile fraud claim brought by various Hewlett-Packard group companies (the "Claimants") against Dr Michael Lynch (the founder and former CEO of Autonomy Corporation Plc ("Autonomy")) and Mr Sushovan Hussain (the former CFO of Autonomy) following a 93 day trial which Hildyard J said "may rank amongst the longest and most complex in English legal history".
Travers Smith were delighted to advise leading marketing data and analytics company, Kantar Group, on its agreement to acquire Qmee, a UK-based app survey platform and fraud prevention technology provider, from private equity fund manager, Capital D.
Travers Smith LLP has announced today the promotion of 11 lawyers to its partnership, with effect from 1 July 2022. This is the largest promotion round to date.
The Supreme Court's judgment in Lloyd v Google in November 2021 (see our briefing) significantly curbed "opt-out" representative actions brought under CPR 19.6, but it left a number of unanswered questions - a trail of crumbs for claimant law firms to pick over. One such question was whether a different conclusion would be reached under the Data Protection Act 2018 (and UK GDPR) as the claim for loss of control of data in Lloyd was made under the Data Protection Act 1998.
We are thrilled to announce that Travers Smith has been awarded Pro Bono Company of the Year at the Better Society Awards, for our work in tackling domestic abuse and human trafficking.
In this appeal, which Lewison LJ noted was important to those who practise in the professional negligence field, the Court of Appeal considered the effect and scope of section 1(4) of the Civil Liability (Contribution) Act 1978 (the "1978 Act"). The Court held that s.1(4) was concerned only with the liability of the party claiming contribution, and not with the liability of the party against whom contribution is sought, clarifying what has to be proved by a contribution claimant to succeed on a contribution claim.
The UK Government has confirmed that it plans to introduce significantly stronger powers for the Competition and Markets Authority (CMA) to enforce consumer law, including the ability to impose fines of up to 10% of global turnover. This is a major change for consumer-facing businesses, although question marks remain over the exact timing.
The EU has published a draft directive designed to help address the perceived bias in favour of debt funding companies as compared with equity and, accordingly, promote financial stability.
Key employment and business immigration developments for employers.
Travers Smith LLP is advising Ideagen plc on its recommended £1.058bn takeover offer by Rainforest Bidco Limited, a company indirectly controlled by funds managed by Hg Pooled Management Limited (“Hg”), announced on 9 May 2022 (the "Hg Offer").
Travers Smith LLP has advised longstanding client, the McColl's Group, on its restructuring negotiations with stakeholders and the recent sale of its business to Morrisons, which was transacted via an administration sale.
Travers Smith advised BDC on the carve-out of HKA from Hill International in 2017 and HKA has seen significant growth under BDC's ownership.
Travers Smith LLP were delighted to advise long-standing client Hamberley (backed by Patron Capital) on the sale of over £200m of care home assets to Rynda Healthcare (Rynda) and Octopus Real Estate (Octopus).
A regular briefing for the alternative asset management industry.
Travers Smith LLP is delighted to announce that its Legal Technology Team has been awarded "Future of Legal Services Innovation – Mid Sized Practice", at the 2022 Legal Innovation Awards, hosted by Law.com.
Travers Smith LLP has advised Nest on its ground-breaking £600 million move into private equity in partnership with Schroders Capital.
Travers Smith LLP has advised long-standing client Phoenix Equity Partners (Phoenix) and other selling shareholders on the sale of 1000heads Group Limited to Labelium Group (Labelium), a digital performance company backed by Charterhouse Capital Partners.
ESG and sustainability issues continue to be a priority for policy makers and regulators globally. The impact of the Ukraine conflict on energy policy and the recent publication of the IPCC's (Intergovernmental Panel on Climate Change) "state of the union" report on the slender window we have to take action in order to meet our climate targets both highlight the scale of the global challenge we face on climate issues.