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Latest documents

• UK Real Estate Horizons: how does the new Biodiversity Net Gain regime affect you?

  Our Real Estate Horizons one page summary explains what the new BNG requirement is, when it’s relevant and the options available for satisfying it, and provide details on how the biodiversity value of a site is calculated using the Biodiversity Metric and how the delivery of BNG can be secured and enforced.

• FCA Publishes Final Rules on Sustainability Disclosures and Investment Labelling

  The FCA’s long-awaited regime seeks to raise standards, increase consumer understanding, and reduce instances of greenwashing. On 28 November 2023, the FCA published its Policy Statement (PS23/16) containing final rules on its Sustainability Disclosure Requirements (SDR) and investment labelling regime. The FCA originally consulted on this regime in October 2022. Publication of the final rules was somewhat delayed in light of the volume of feedback received to the consultation.

• In Practice: Private Portfolio Financings on the Rise

  In this article the authors consider the benefits of private portfolio financings in light of challenging conditions for CLO issuance. Originally published in Butterworths Journal of International Banking and Financial Law - November 2023.

• Hybrid Facilities: The Promise, the Reality and the Hope

  Have hybrid facilities evolved from a niche product into a full-fledged market? This article considers the features of subscription facilities, NAV facilities and hybrid facilities and explores why hybrid facilities have failed to flourish to date. It also considers how continuation funds can potentially rewrite this narrative. Originally published in Butterworths Journal of International Banking and Financial Law - November 2023.

• The Register of Overseas Entities – what the real estate industry needs to know

  The Economic Crime (Transparency and Enforcement) Act 2022 (the Act) requires overseas entities that own, or wish to acquire, certain real estate in the UK (a Qualifying Estate) to register with Companies House and to provide (and keep up-to-date) information about their beneficial ownership. This note focuses only on how the regime applies to overseas entities owning, or wishing to acquire, real estate in England and Wales.

• When Contractors Become Project Owners: Opportunities, Risks and Conflicts for Japanese Contractors to Consider When Taking Equity in a Project

  Japanese heavy-industries companies that typically act as contractors or suppliers on projects are increasingly invited to contribute as equity investors in the projects they construct or supply major equipment to, thereby taking a role as a project sponsor while also performing their role as ‘Contractor’ in the supply chain.

• BCLP Arbitration Survey 2023 - AI in IA: the Rise of Machine Learning

  Welcome to the results of our Arbitration Survey 2023 on the use of Artificial Intelligence in International Arbitration. In keeping with this year’s survey topic, we asked a generative AI tool to compose an introductory paragraph for this report.

• Impact of Pillar Two on Tax Risk Apportionment for a Corporate Sale

  How do you draft a tax covenant for a corporate sale when the Seller Group is within the scope of a Pillar Two charge? This is an issue that will become increasingly relevant as we approach the Pillar Two start date at the end of 2023. Please see full Publication below for more information.

• Sanctions Update: EU and UK Impose Sweeping Import Restrictions on Russian-Origin Iron and Steel

  The new measures bar the import of iron or steel products processed in countries other than Russia but incorporating Russian-origin iron or steel components. The measures form part of a series of significant sanctions updates adopted by the EU and UK in 2023. This Client Alert is published in the context of ongoing developments and should be read in conjunction with Latham’s previous sanctions updates. Given the frequency with which different jurisdictions are imposing new sanctions on Russia, businesses exposed to sanctions-related developments in Russia should obtain up-to-date legal advice before taking any steps that may have legal effects. Please see full Alert below for more information.

• Trade Finance in the Digital World – What Changes are Likely in the Coming Months and Years?

  Foreword by Geoffrey Wynne - Much has been written – and will be written – about the need to digitise trade transactions. Less use of paper and greater speed and efficiency are some of the reasons for this. The availability of ‘tech tools’ in support of this objective increases almost daily and the potential use of Artificial Intelligence (AI) is often provided as the basis on which to remove the human element from the processing and checking of digital documents.

Featured documents

• UK Public Procurement Law Digest: How Will an Application for Injunction Made During an On-going Procurement Process be Determined?

  Court confirms approach to applications for injunctions made during an on-going procurement process Under the public procurement remedies regime, a public contract procurement process must be suspended if an aggrieved bidder brings a legal challenge; and the contracting authority will have to...

• Intellectual Property Advisory: The UK Intellectual Property Office Has Recently Announced a New Fast Track Examination Service for PCT Applications

  The UK Intellectual Property Office has recently announced a new fast track examination service for Patent Cooperation Treaty (PCT) applications entering the United Kingdom (GB) national phase which received a positive International Preliminary Report on Patentability (IPRP), under either Chapter I ...

• Director and Employee Rights and the Grays Timber Case in the UK

  When structuring the share rights of employees and directors in a company or group that employs them, parties to these arrangements will be keen to ensure that any enhanced rights to payments on a share sale are structured in the correct way in order to avoid an income tax on the gain which could...

• Phasing Out the Default Retirement Age

  The UK Government has today announced that employers will no longer be able to dismiss staff because they have reached the default retirement age (of 65 years) (the DRA). The basis for the decision is to allow people to work for longer to help the economy, and allow people to save more towards...

• Former City Executive Banned for Performing a Significant Influence Function without FSA Approval

  On February 9, the UK Financial Services Authority (FSA) announced that it had banned Daniel Hassell, formerly a consultant at Vantage Capital Markets LLP, from working for a regulated financial services firm. The FSA found that Mr. Hassell had performed a significant influence function at...

• The Ministry of Justice Issues Long-Awaited Guidance on the UK Bribery Act

  On March 30, 2011, the United Kingdom (“UK”) Ministry of Justice (“MOJ”) issued its long-awaited guidance on the UK Bribery Act (the “Guidance”). The implementation of the UK Bribery Act (the “Act”) has been delayed twice, but will now take place on July 1, 2011. Thus, the time has come for...

• How will the UK Bribery Act 2010 impact your company?

  The Bribery Act 2010, which comes into effect in July 2011, is considered to be the beginning of an aggressive new stance by the UK on business misconduct. The Act casts a wide net and captures acts of bribery committed outside the country. The new anti-bribery regime will have potentially...

• UK Government Publishes Legislative Bill on New UK Regulatory Structure

  On June 16, HM Treasury published "A new approach to financial regulation: the blueprint for reform," which includes a "white paper" consultation document on its proposals for reform of the UK financial services regulatory structure and a draft Financial Services Bill, the primary legislation that...

• Implementation of the ‘Cookie Directive’ in the UK

  Implementation of the ‘Cookie Directive’ in the UK The so-called “Cookie Directive” 2009/136/EC came into force on the 26 May 2011 in the UK. The Cookie Directive makes a number of amendments to the Universal Services Directive (2002/22/EC), the Privacy and Electronic Communications Directive ...

• Real World: Finance and Real Estate News: Summer 2011/Issue 23

  In This Issue: p1 HEADNOTE: Olympic Countdown p2 BRIBERY: The Bribery Act and the Real Estate Industry p5 SEWERS: Automatic Adoption of Private Sewers p6 LANDLORD AND TENANT: Vacant Possession and Break Rights p7 CRC ENERGY EFFICIENCY SCHEME CRC: Simplified p8 PLANNING:...