Business interruption insurance: importance of understanding cover | Holman Fenwick Willan

Legal Briefing

Business interruption insurance is often a key component of a company’s business continuity plan. The insurance is designed to compensate an insured for the financial effect of the interruption or interference to that business as a result of physical damage to an insured property or other key external events, such as damage at a supplier’s …

De facto directors: Holland v Revenue and Customs & anor [2010] | Druces LLP

Legal Briefing

A recent Supreme Court judgment in Holland v Revenue and Customs (HMRC) [2010] has considered the status of de facto directors and, on a 3-2 split decision, limited the applicability of the concept. The decision is controversial because it will provide a defence in certain circumstances for persons controlling companies who are not officially directors …

Impact of direct tax code on special economic zones | Amarchand Mangaldas

Legal Briefing

The Special Economic Zones Act (SEZA) 2005 was enacted with the underlying objective to boost economic activity, promote exports and investment from domestic and foreign sources, create employment opportunities and develop infrastructural activities. Keeping such objectives in mind, various fiscal incentives were provided to the special economic zones (SEZs) under the Income Tax Act (ITA) …

2011: a year of change for the UK immigration landscape | Magrath Sheldrick LLP

Legal Briefing

December 2010 was an incredibly eventful month for UK immigration practitioners, with further information published concerning the mechanisms of the permanent annual immigration limits (due to be implemented in April 2011), a judicial decision rendering the interim limits introduced by the coalition government as unlawful and the almost immediate removal of one of the UK …

FSA CEO outlines new regulatory approach | Eversheds Sutherland

Legal Briefing

In a speech on 13 December, Financial Services Authority (FSA) chief executive Hector Sants outlined what firms can expect of the supervisory approach under the new regulatory structure following the abolition of the FSA in 2012. Sants attributed the financial crisis ‘first and foremost to massive misjudgements’ made by key financial institutions, before going on …

Saving billions of euros in public procurement | Wolf Theiss

Legal Briefing

Not least due to the financial crisis, the situation surrounding the public budget in central and eastern Europe (CEE) and southeastern Europe (SEE) countries is fraught with complications. Nonetheless, governments (including the states, provinces and municipalities) in the EU will invest a barely credible €2.5trn (ie €2,500bn) in various government contracts in 2011 – purchasing …

UK tax: what will change in 2011? | Watson Farley & Williams

Legal Briefing

Continuing the recent trend of expanding the UK’s already extensive body of tax legislation, 2011 looks likely to be a busy year for the law makers. This article summarises the key tax changes that are set to take place over the next year.


A guide to corporate restructuring in the UAE | Baker & McKenzie Habib Al Mulla

Legal Briefing

Commercial markets in the UAE are still feeling the shock of the global economic recession, forcing many companies to undergo restructuring to ensure better efficiency and productivity. Yet, many of them are not aware of the legal intricacies and practical complexities surrounding a corporate restructuring.