Until the early seventies, the west’s perception of Gulf Arabs was one of mysterious exoticism – funny robed chaps, with which at least one diminutive First World War British Army officer was obsessed. But with the oil shock of 1973, Gulf Arabs shot to the top of the west’s list of global betes noires. Embodied […]
According to Francois Barker, head of pensions at Eversheds, the increased flexibility of new UK pensions changes announced in the 2014 Budget may not be available to all. He said: ‘These are the first steps in the government’s overhaul of the way we can access our pension savings and are changes that have come about […]
According to Eversheds, the proposed new Institutions for Occupational Retirement Provision (IORP) Directive is far too detailed and prescriptive and would cost UK pension schemes £328m. Francois Barker, head of pensions at the law firm, said: ‘Commissioner Barnier has been stressing for some time the need for the European Union to reduce red tape, but […]
James Batham, a retail expert and partner at Eversheds, has commenting on the latest Office for National Statistics (ONS) retail sales figures for the UK. Batham said: ‘It is certainly encouraging that the figures show a positive growth rate driven by the food and drink categories. ‘Recent statistics have reminded us of the significant impact […]
Eversheds’ Italian office has advised UniCredit in relation to a financing deal for the Salcef Group, a railway and general construction contractor in Italy. The Eversheds team was headed by partner Marco Franzini, assisted by associate Angelo Speranza. The team dealt with all aspects of the structuring, negotiation and documentation of medium- to long-term facilities […]
The University of Belgrade Faculty of Law will host the sixth Belgrade open pre-moot competition on 5–6 April 2014, in which No5 member Tim Jones will be acting as arbitrator. Since 2008, the pre-moot has been organised in co-operation with the GIZ Open Regional Fund, the Foreign-Trade Arbitration Court attached to the Serbian Chamber of Commerce, […]
Ogier has advised Avis Budget on the Jersey law aspects of its recent €200m (£166m) add-on to the 2014 senior notes issuance by Jersey issuer Avis Budget Finance. On 6 March, Avis Budget placed a fungible add-on to the six per cent notes due 2021 via joint bookrunners Deutsche Bank (B&D), Credit Agricole CIB, Bank […]
Gateley has advised technology entrepreneur Stuart Marks as he embarks on a joint enterprise with retail company John Lewis. The Hale businessman has partnered with John Lewis to launch JLAB — a programme aimed at identifying and developing technology innovations that will provide the retailer with a strategic advantage in future, with customers’ needs at the […]
The £2m cost budgeting threshold for commercial cases in the UK courts has been raised to £10m, bringing a raft of civil cases under stricter budgeting measures. Following the year-long review of civil litigation costs by Lord Justice Jackson in 2010 a budgeting regime was introduced for cases valued under £2m across the Chancery, Mercantile […]
As the year-end approaches, all financial metrics will come under the microscope, including debt. And recent events suggest that attitudes towards debt levels are changing. Once the thought of a firm with a multi-million pound debt facility would have filled a partner with dread. Now a growing number of law firm leaders are looking to […]
Stephenson Harwood has formalised its relationship with local firm Virtus Law after its application for a formal law alliance (FLA) was approved by Singapore’s Attorney General’s Chambers. Stephenson Harwood has been in an exclusive association with the Singaporean firm since May last year following its unsuccessful application for a qualifying foreign law practice licence (1 […]
Trowers & Hamlins has made its smallest promotions round in four years, making up four partners, down from seven the year before. It is a marked decrease on a high of 11 in 2012, when seven London partners were made up as well as one in the Middle East and Manchester (27 March 2012). The firm […]