The Legal 500

Isle of Man

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The Isle of Man has positioned itself as an important player in areas such as e-gaming, shipping and aviation. Offering an established regulatory framework and government funding towards relocation and software costs, the Isle of Man is an attractive jurisdiction for companies in the e-gaming sector, an industry that now accounts for a significant proportion of the island’s GDP. The consequent requirement for legal assistance in licensing, regulatory, employment and property matters has been felt by firms, with a notable increase in enquiries from e-gaming companies.

The Isle of Man’s shipping and aircraft registers continue to grow, with the island being particularly popular for the registration and ownership of business jets. Catering to the growing prominence of these sectors, several law firms on the island handle financing, leasing and contentious issues for owners and lenders.

Insurance and pensions remain important industries, spawning transactional and regulatory advisory work for law firms in 2013. Recent legislative developments include the Bribery Act, which came into force in 2013, and the proposed Employment Equality Bill.

Appleby’s global footprint makes it an attractive choice for multinational clients, and Cains also remains a key player in the market, with general strength across the board. Simcocks and DQ continued to make strides, advancing up the ranking tables, and the island is also served by numerous smaller alternatives such as Long & Humphrey and litigation firm Gough Law, which are also strengthening their offerings.

Personnel changes at Appleby included the departure of Nick Verardi to take up a role with Bramden Investments, and noted private client lawyer John Rimmer to set up his own firm as well as take a consultancy role at Cains. Caren Pegg was made partner in April 2014, and Faye Moffett was promoted to corporate and commercial practice head in February 2014. At DQ, an internal restructure saw the highly regarded Tom Maher becoming managing partner, with Mark Dougherty taking over as head of the corporate team. The firm merged with Kerruish Law & Trust, expanding its private client and property capabilities.

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Legal Developments in the UK

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    How to build an investment fraud defence case that disproves prosecution allegations of dishonesty.

    With a town council now officially facing a fraud investigation, we examine what individuals in such a large body should do if they come under suspicion.
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    What has been achieved since the introduction of the Act that was intended to tackle bribery in business?

    Five banks being fined £3.6 billion in the US for manipulating forex is a stark reminder of the legal risks involved in currency trading. Here, Aziz Rahman of Rahman Ravelli examines how the brokers and the traders in forex can avoid legal problems.
  • Foreign Intercepts

  • Finding the 
right words

    In the recent case of Newbury v Sun Microsystems [2013], the defendant argued that an offer to settle proceedings was ‘in principle' only and that a binding contract could not be formed until further terms had been agreed and a formal contract had been signed. It supported this argument by referring to a statement, in the offer letter, that the settlement was to be ‘recorded in a suitably worded agreement'. 

  • Behind the corporate veil: is that all there is?

    That companies have an existence entirely separate to that of their shareholders and directors is a foundational principle of English law and commerce.

  • Restoring environmental damage: putting a price on ecosystem services

    On 7 August 2009 a 40-inch pipeline ruptured, spilling 5,400 cubic metres of crude oil into the soil and groundwater of La Crau nature reserve in southern France, a habitat protected under French and European law. The operator had to excavate and replace 60,000 tons of soil, install 70 wells to pump and treat groundwater and 25 pumps to skim oil from surface water, at a cost in the region of €50m. However, this was just the primary remediation (that is, restoring the site to the state it would have been if the damage had not occurred). The operator was also required to compensate for the damage to the habitats and the loss of the ecosystem services that would otherwise have been provided by La Crau nature reserve. Measures included purchasing land outside of the nature reserve and contributing to its management for a period of 30 years (over €1m), monitoring the water table for 20 years (over €500,000), monitoring fauna over three years (€150,000) and rehabilitation in accordance with best available ecological techniques (nearly €2m). Overall, the compensatory restoration (to compensate for the amount of time that the ecosystem was impacted) and complimentary restoration (to compensate for elements of the ecosystem that had been permanently lost) came to more than €6.5m. 

  • The role of arbitrators in EU antitrust law

    In May 2014, it will be ten years since Regulation No 1/2003 entered into force. When the legislator of the European Union adopted this Regulation on 16 December 2002, its main objective was to decentralise the enforcement of the two main provisions of EU antitrust law, Articles 81 and 82 of the Treaty establishing the European Community (now Articles 101 and 102 of the Treaty on the Functioning of the European Union (TFEU)). Where do the arbitrators fit in this picture?

Press Releases in the UK

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