Tag Archives: United Kingdom

Brexit – Squaring Circle and involving European Court of Justice

Clash of Philosophies There is a potentially irreconcilable clash of constitutional philosophies between the UK and the EU which results in certain “no go” areas on the EU side for the forthcoming Brexit negotiations. Perspective of the EU27 The EU27’s approach is driven by the perception that the European Union is not merely representative of …

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Brexit Bull Horn

European Union Adopts Brexit Negotiation Guidelines

On April 29, a Special European Council, meeting as 27 member states (as opposed to the full 28 member states, as would usually be present), adopted the Article 50 guidelines (Guidelines) to formally define the EU’s position in Brexit negotiations with the United Kingdom. This follows the resolution of the European Parliament on key principles …

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To Brexit or to Bremain? That is the Question on 23 June 2016

A View from Brussels As the 23 June date for the British referendum about its future in the European Union (EU) comes closer, the EU political leadership in Brussels remains uncertain how best to support the ‘Bremain’ forces in order to avoid the embarrassing and damaging departure of one of its largest and strongest members. None …

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United Kingdom: A Reminder About Careful Drafting of Confidentiality Clauses for Shareholders

The recent decision by the High Court of England and Wales (Chancery Division) in Richmond Pharmacology Limited (Company) v. Chester Overseas Limited, et al. underscores the need to carefully draft confidentiality clauses and to incorporate specific exceptions where these exceptions are reasonably foreseeable in the future. The case involved a shareholders agreement which contained a standard confidentiality …

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“Dual” Employment Contracts for US Executives Working in the UK

  Background February 2014 Individuals, whether of British or foreign nationality, who reside in the UK are, in principle, taxable on their worldwide employment income. Many US executives who are “seconded” by their US employer to work in the UK may therefore become UK tax resident. Such US executives who have not been UK resident …

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UK Financial Conduct Authority (FCA) Issues First Fine Under New Anti-Money Laundering Regime

  Financial Conduct Authority fines Standard Bank £7.6 million for failures in its anti-money laundering controls, underlining the importance of both having and implementing adequate policies in relation to money laundering. On 22 January, the UK Financial Conduct Authority (FCA) published a decision notice[1] imposing a £7.6 million fine on Standard Bank PLC, the UK subsidiary of South …

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Caveat Emptor: Due Diligence of the United Kingdom Continental Shelf Oil and Gas Assets

  This article explores the due diligence of United Kingdom continental shelf (“UKCS”) oil and gas assets from a buyer’s perspective. Good management, organisation, communication, clarity and common sense are the key to a successful due diligence exercise. The scope of the due diligence review will depend on a number of factors, including whether the …

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