<p>Filter Knowledge</p>

The Chancellor has today announced that the Coronavirus Job Retention Scheme (CJRS) is being further extended until the end of March 2021. 

In an increasingly data driven world in which we are all learning to become more data conscious, Data Subject Access Requests ("DSARs") are an important tool for individuals to check how their data is being used, and whether such use is lawful.

Travers Smith LLP has advised private equity firm CGE Partners on its investment in Aurora Energy Research, a leading provider of critical data and analytics to the power and energy industry. 

Travers Smith LLP has advised Shawbrook Bank on the provision of a unitranche facility to Graphite Capital in relation to its acquisition of Ten10, a leading independent quality engineering and software testing consultancy, from Livingbridge.

Whilst the Covid-19 pandemic and continuing uncertainty over the nature of the UK’s relationship with the EU post-Brexit have dominated the political and economic agenda in recent times, there have been a number of important tax developments that asset managers should have on their radar as we approach the end of 2020.

The Government's new points-based immigration system was widely expected to take effect from 1 January 2021, following the end of the Brexit transition period. However, the Government has now announced that the new system will open for applications on 1 December 2020.

The recent decision of the High Court in The Financial Reporting Council Ltd v Frasers Group Plc (formerly Sports Direct International Plc) [2020] EWCH 2607 (Ch) reinforces the principle that, even where litigation is reasonably within contemplation at the time, a communication or document will only be protected by litigation privilege where it has been prepared for the sole or dominant purpose of litigation. 

On 16 October 2020, the UK’s Export Control Joint Unit ("ECJU") issued a timely reminder to UK businesses that an Open General Export Licence ("OGEL") will be required where a business is exporting dual-use items, as set out in Annex 1 of EU Regulation 428/2009 (the "Dual-use Regulations"), to any EU member state, and the Channel Islands, from 1 January 2021.

Clauses which enable a party to a contract to request that its counter–party consent to the making of a change to the contract's terms often provide that such consent is not to be unreasonably withheld.

Distressed M&A toolkit

COVID-19 and the resulting economic instability will have an adverse effect on some businesses for months, and potentially years, to come. For private equity investors and other financial sponsors, this will create opportunities to acquire good assets (which may be in need of short/medium term financial support) at attractive valuations.

A recent CJEU finding on mass surveillance creates more uncertainty with regard the UK's chances of an adequacy decision. We explain what the case is about and its potential impact on adequacy.

The Government has published draft legislation extending the ability to diverge from retained EU case law to the Court of Appeal and other courts at the same level (in addition to the Supreme Court).  It had also been considering allowing the High Court and other courts at the same level to diverge, but this option is not being pursued. How significant is this change likely to be in practice?

The Chancellor has today announced increased support for employers under the new Job Support Scheme (JSS). The Government subsidy available under the JSS has been more than doubled while the contribution required from employers has been significantly reduced. 

Travers Smith LLP has advised long-standing client TA Associates and management on their strategic reinvestment in The Access Group alongside existing co-investor Hg. TA Associates and Hg will retain joint control of The Access Group, alongside management.

Travers Smith LLP has advised the partners of Benson Elliot Capital Management LLP (Benson Elliot), a leading UK-based private equity real estate fund manager and longstanding client of the firm, on the sale of Benson Elliot to PineBridge Investments Holdings Europe Limited (PineBridge), a private global asset manager. Completion of the transaction is subject to various customary regulatory approvals.

Bilateral Investment Treaties, or BITs, are an important part of the international investment landscape. In this briefing, we look at what BITs are and whether Brexit will make it more attractive to structure investments in certain EU member states through the UK in order to take advantage of BIT protection.