Economic Crime Knowledge

The Economic Crime and Corporate Transparency Act 2023 (hereafter referred to as the Act) has ushered in a significant overhaul in the realm of corporate criminal attribution, particularly in addressing a spectrum of economic crimes. One notable addition is the introduction of a novel offence, specifically targeting corporate entities for their failure to prevent economic crimes committed by managers, employees, subsidiaries, and service providers.

In the intricate realm of construction and engineering contracts, the selection of governing law intricately influences the interpretation and execution of agreements, with profound implications for project dynamics. This journey into the legal tapestry of England & Wales, China, Saudi Arabia (KSA), and the United Arab Emirates (UAE) unveils significant disparities in the freedom to choose applicable law.

In recent years, the legal landscape surrounding economic crime in the United Kingdom has witnessed a surge in government initiatives and legislative changes. As a leading law firm at the forefront of these developments, we provide a detailed overview of the latest changes and their implications for businesses and individuals.

UHNW families are often reluctant to share information about their wealth, businesses, and philanthropy with the public. They value their privacy and discretion, and may fear the consequences of exposing themselves to unwanted attention, scrutiny, or litigation. However, being too secretive can also have negative implications for their reputation, legacy, and social impact.

Investment immigration programs, such as Residence by Investment (RBI) and Citizenship by Investment (CBI), have gained significant traction worldwide. With over 100 jurisdictions offering these schemes, individuals and businesses seek legal expertise to navigate the complexities of these programs. This article explores the role of law firms in assisting clients through the intricacies of different schemes and provides a summary of popular programs for comparison.

Since 2014, Russia has faced a significant increase in international sanctions, making it the most sanctioned country in the world since February 2022. These sanctions primarily have a political nature, with the aim of pressuring Russia to change its behavior. The main actors in imposing these sanctions are the European Union, the United States, and Great Britain.

In a rapidly globalizing world, individuals are increasingly looking for opportunities to broaden their horizons, both personally and professionally. One avenue that has gained popularity in recent years is Residence and Citizenship by Investment (RBI/CBI) programs, offered by various countries. These programs enable individuals to obtain residence or citizenship in exchange for making significant investments in the host country. Here, we delve into the world of RBI/CBI programs, exploring their numerous advantages and potential pitfalls.

The recent judgment in the case of Pinewood Technologies Asia Pacific Ltd v Pinewood Technologies Plc has brought to light several key legal considerations surrounding exclusion clauses and their impact on contractual obligations. This case revolved around the dispute between Pinewood UK and Pinewood Asia Pacific, with the former being accused of breaching obligations related to the development of software for the Asia-Pacific region. The central issue in question was whether an exclusion clause within the reseller agreements effectively barred Pinewood Asia Pacific from claiming damages amounting to approximately USD300 million. The court's decision was instrumental in clarifying the application of the Unfair Contract Terms Act 1977 (UCTA) and the significance of negotiations between parties in determining the reasonableness of exclusion clauses.

The Fairmont Windsor Park Hotel, nestled in Surrey, has recently come under fire for significant breaches of planning regulations. The chairman of Arora Group, Surinder Arora, stands at the center of the controversy due to unauthorized additions he made to the hotel. Notable among these additions are a three-storey extension, an upscale VIP entrance, and a lavish royal suite. The Arora Group has shifted the blame for these unauthorized changes onto "commercial pressures" exerted by Fairmont Hotels. They suggest that these additions were vital to meet the high expectations of their four- or five-star hotel guests.

In the current landscape of digitization, lawyers have unprecedented tools at their disposal. Two such disciplines—digital forensics and stylometry—have emerged as invaluable assets. These tools, distinct yet occasionally interrelated, provide attorneys with insights into digital footprints and the authorship of contested content, furthering their pursuit of justice.

A trustee, by virtue of the office held, shoulders a weighty responsibility. Central to this responsibility is the cardinal principle that trustees must perform their duties with utmost honesty and in good faith, always prioritizing the benefit of the beneficiaries. The scope of this article seeks to shed light on these fiduciary duties, while also exploring potential breaches and the remedies available to aggrieved parties.

The role of a trustee is a significant one, vested with the responsibility of safeguarding and managing assets for beneficiaries. Trustees are often faced with complex decisions, balancing their fiduciary duties with the practical needs and wishes of beneficiaries. J's request, a young individual hoping to turn her life around, offers a quintessential example of the challenges and considerations trustees face.

The Fusion of Artificial Intelligence and Legal Practice: A New Horizon for Lawyers

Navigating the maze of legal responsibilities as a trustee is a daunting challenge. Whether you are a professional or a lay trustee, understanding your duties and powers is paramount. This article provides an overview of the key areas every trustee must be acquainted with, ranging from maintenance to the advanced capital, and most importantly, understanding fiduciary duties and the standard duty of care.

What are the trustees' options if a 19 year-old beneficiary has asked for £100,000 to be paid to him immediately so that he can pay for his tuition, meet his living expenses, and take out his girlfriend?

When a 14-year-old beneficiary approaches trustees with a request to cover her tuition fees for five years in a school abroad, a myriad of considerations come into play. It's not just about the money; it's about the legal obligations, the future implications, and the long-term sustainability of the trust. This article delves deep into these aspects.

In a significant development for the international legal landscape, the UK government recently confirmed its intention to sign the 2019 Hague Convention on the cross-border enforcement of judgments. Legal experts, echoing the sentiment, emphasize the positive impact this decision will have on businesses, providing a robust and predictable framework for enforcing judgments across borders. As a solicitor and private investigator, I find it crucial to recognize the multifaceted implications of this development and understand how your expertise can play a pivotal role in guiding clients through the complexities of cross-border disputes.

New legislation enacted in Ireland at the end of October is set to expand regulatory screening for corporate transactions, including mergers and acquisitions. The Screening of Third Country Transactions Act 2023, aligning with the EU Screening Regulation, is scheduled to take effect in the second quarter of 2024. As an Irish lawyer and solicitor in England and Wales, I highlight the transformative impact of this legislation on the landscape of Irish transactions.