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Travers Smith LLP has advised S4Capital plc on entering into exclusivity in relation to a merger of Dare.Win, an award-winning Paris-based digital creative agency, with MediaMonks, S4Capital's Content practice.
Key employment and business immigration developments for employers.
"Reshoring" supply chains – the movement to replace international supply chains with (theoretically) simpler, domestic equivalents – is currently high on the political agenda, boosted by Brexit and the disruption caused by COVID-19. However, while there may be merits for some businesses in reshoring, it is far from risk-free – and, for many businesses, it may be neither practical nor desirable.
Travers Smith has acted for Numis and Liberum in their capacities as joint bookrunners and joint brokers on the £20.2 million cashbox placing of new ordinary shares by RPS Group plc.
Travers Smith LLP has acted for long-term client Hydrogen Group plc (AIM:HYDG) on a novel tender offer structure through which the Company is proposing to de-list on AIM and to provide a cash exit to shareholders by buying back up to 56% of its issued share capital.
In the recent landmark decision of Sainsbury's v MasterCard,1 the Supreme Court confirmed that MasterCard and Visa's multilateral interchange fees ("MIFs") infringed Article 101(1) of the Treaty on the Functioning of the European Union ("TFEU"). The judgment also establishes the legal test that MasterCard and Visa must satisfy to be exempt under Article 101(3) TFEU, as well as the legal test for establishing pass-on.
Update December 2022: This article has been updated, primarily to reflect revised rules on timing of mandatory application of the CA Mark, released in November 2022.
Travers Smith LLP has advised the sellers on the sale of a UK solar business and assets to Bluefield Solar Income Fund, a UK-focused income fund that invests primarily in solar assets, for c.£100 million.
The COVID-19 pandemic has caused unparalleled disruption to the judiciary, which has been presented with logistical hurdles as well as acute legal issues to tackle.
The UK Government launched a consultation on 25 August 2020 seeking the views of stakeholders on whether they should introduce a new law aimed at preventing forests and other important natural areas globally from being illegally converted in to agricultural land, following a recommendation from the Government's independent Global Resource Initiative taskforce.
Travers Smith LLP has advised IK Investment Partners on the acquisition by its IK Small Cap II Fund of a majority stake in Forthglade Foods, the first investment by IK’s newly established UK team.
Travers Smith LLP has advised private equity firm BlueGem Capital Partners (BlueGem) on a revolving subscription credit facility, provided by OakNorth Bank (OakNorth).
From 1st September we will have a new Use Classes Order ("UCO"). It will be significantly different from the current one, and the changes will override much of the tinkering that has gone on with the UCO over the last few years. It appears to have been designed to assist with the economic challenges arising from Covid-19 but also feeds into the Government's current 'build, build, build' philosophy.
Following an announcement by the UK Housing Secretary earlier this year, on 6th August 2020 the Government published its long-anticipated planning regulation reform proposals titled 'Planning for the Future' (the 'White Paper'). The White Paper is open for consultation until 29th October 2020 and contains the Government's proposals for a significant overhaul of the planning regime and replacement of the current model with a streamlined, rules-based system. The proposals are split into three concepts: Planning for Development; Planning for Beautiful and Sustainable Places; and Planning for Infrastructure.
Travers Smith LLP has advised long-standing client Pensions Infrastructure Platform Limited on the sale of its business to Foresight Group LLP (Foresight). The transaction completed on 18 August 2020.
Allegations of dishonesty in English civil litigation – whether against individuals or corporate bodies – are not to be made lightly, and care must be taken over how they are pleaded. This is reflected in paragraph 8.2 of Practice Direction 16, which provides that a claimant must "specifically set out…any allegation of fraud" in the Particulars of Claim.
In this recent decision of Waksman J in the High Court, Barclays were held to have waived privilege in all contemporaneous communications with their lawyers regarding the validity of certain agreements which were the subject of the proceedings.
The Chancellor recently announced a new Job Retention Bonus for employers as the Coronavirus Job Retention Scheme (CJRS) winds down. The bonus aims to incentivise employers to retain furloughed staff when the CJRS closes on 31 October 2020.
The Government has launched a short consultation on proposals to allow courts below the Supreme Court (including potentially the High Court and the Employment Appeal Tribunal) to diverge from EU retained case law after the end of the transition period. If the status quo is preserved, only the Supreme Court would be able to do so.