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Letztes Update: vor 1 Stunde 3 Minuten

Human Rights Act 1998 — the UK government’s proposed reforms

letztes Update vor 3 Stunden 44 Minuten

The Conservative Party pledged in its 2019 manifesto to ‘update the Human Rights Act and administrative law to ensure there is a proper balance between the rights of individuals, our vital national security and effective government’. To that end the government established an Independent Human Rights Act Review (IHRAR), chaired by Sir Peter Gross.

Sir Jonathan Jones QC, senior consultant at Linklaters, comments in LexisNexis on the IHRAR report and the subsequent proposals announced by the government on 14 December 2021.

Read the full article here

Linklaters' global investment funds practice records another outstanding year

letztes Update vor 8 Stunden 11 Minuten

Linklaters' integrated global investment funds team is proud to report another outstanding year representing top tier sponsors and investors across multiple jurisdictions in their private and public funds endeavours.

During the last 12 months, the global investment funds practice:

  • represented top tier sponsors who have raised more than US$75bn (up from US$62bn in 2020) across various private markets segments, namely in private equity, real estate, infrastructure and credit strategies;
  • acted for the world’s largest cornerstone investors who have committed more than US$25bn (up from US$20bn) to over 175 private funds and co-investments.

Throughout 2021, our clients continued benefitting from the practice’s integrated global offering with broad and deep expertise in both local and international funds matters, a full service with best-in-class expertise encompassing the structuring, formation, taxation and regulation of private funds.

With a clear focus on delivering solutions, the practice takes an innovative approach to advising clients, evidenced by the launch of MFNiQ in May 2021, a ground-breaking tool that was built in collaboration with iManage to automate the generation of ‘most favoured nation’ side letter matrices, reducing a task that could take several days to, in essence, the push of a button.

The practice was also most recently strengthened through the hire of Joel Seow who will establish an investment funds practice in Singapore, building out the firm’s expertise in Asia.

Silke Bernard, the global head of the global investment funds practice, commented:

“2021 was another fantastic year for our practice as we continued to very successfully advise sponsors and investors on some of the most significant and high-profile fundraising and secondary deals in the market. The global recovery from the pandemic is underway and there is immense demand from the market to both raise and deploy fresh capital around the world. That said, there are also new challenges for 2022, such as fully embracing and embedding the new ESG framework into businesses or successfully navigating the regulatory pipeline and changes ahead.” We are looking forward to working with our clients on their journey in 2022 and enjoy partnering with them to build their success and reach their commercial goals.”

Linklaters’ clients benefit from an unparalleled overview of the global investment funds market, with specialist, full service expertise from over 70 dedicated funds lawyers, including 15 partners, in the firm’s global investment funds practice across all major financial sponsor centres, such as London, Paris, New York, Luxembourg, Frankfurt, Hong Kong, Singapore and Tokyo. The team is supported by fund-experienced tax, finance and deal teams in all relevant jurisdictions around the world.

Find out more about the practice and our work here.

Linklaters announces hire of Joel Seow to establish investment funds practice in Singapore

Di, 18.01.2022 - 04:04

Linklaters has announced that Joel Seow joined as a partner in the firm’s Singapore office, to establish an investment funds practice. Joel has extensive experience advising sponsors in Asia on the establishment of private investment funds across various asset classes and jurisdictions, with a particular focus on private equity funds, venture capital funds, real estate funds, infrastructure funds, hedge funds and special situations funds.

Joel has over a decade of experience in top-tier investment funds practices in both London and Singapore and joins Linklaters from Morgan Lewis, where he was a partner. His arrival further bolsters Linklaters’ funds capabilities following the recent announcement that alumni Betty Yap and Carl Fernandes have re-joined the firm, both of whom are highly regarded in the funds and regulatory markets.

Linklaters’ Global Head of Investment Funds Silke Bernard, commented:

We are pleased to welcome Joel to our Singapore office. Joel is an established practitioner in the global funds space, and his experience will be invaluable in helping us to establish a strong investment funds practice in Asia, working alongside our market-leading regulatory, corporate and finance practices to meet the growing demand from our clients and continue to deliver best in class service.”

Linklaters appoints Global Head of Practice Innovation as it grows team of innovation lawyers

Mo, 17.01.2022 - 17:58

Linklaters has appointed Greg Baker in the newly created role of Global Head of Practice Innovation. Greg will lead the firm’s innovation and efficiency agenda globally and will oversee a growing team of innovation lawyers.

Greg has most recently served as the Lead Innovation Lawyer for the firm’s global corporate practice, working closely with partners and lawyers to deploy new technologies and design improved ways of working to deliver best-in-class service for clients. Prior to joining Linklaters, he was a lawyer at an international law firm in London for ten years and has previously been seconded to financial institutions in London and Geneva.

In his new role, Greg will lead the firm’s innovation and efficiency efforts to increase efficiency and enhance the client experience. He will work alongside a multi-disciplinary innovation team to drive change with pace and purpose for the benefit of lawyers and clients. He will also chair the firm’s Innovation Steering Group, a group of partners and senior business leaders who provide strategic direction on innovation priorities and investments for the firm.

It comes as Linklaters grows its team of innovation lawyers across several offices. Innovation lawyers are aligned with and embedded in specific practices, working side-by-side with lawyers and their clients. They combine their legal experience and an appreciation for how technology and enhanced processes can deliver efficiencies on client work – all to deliver immediately tangible improvements.

Stefan Schwarz, Chief Legal Operations Officer at Linklaters, said: 

“Throughout his time at the firm, Greg has shown the value of challenging the status quo to keep pace with our clients’ growing expectations. I look forward to working with Greg as he drives the firm’s innovation agenda forward.” 

Greg Baker, Global Head of Practice Innovation, commented: 

“We are harnessing ideas from around the firm and from other industries to make tangible improvements to both the client experience and the lives of our lawyers. Whether those ideas leverage leading technologies, such as CreateiQ, or our data and process mapping, it’s an exciting time to be working with our lawyers and clients.I’m looking forward to continuing the transformational work with our practices across the globe, including with our expanding cohort of innovation lawyers, to think creatively about the needs of our clients and our firm.”

Further details about the innovation lawyer roles can be found on the Linklaters careers site.

Learn more about Innovation at Linklaters here.

Pitch for Change

Mo, 17.01.2022 - 11:25
The last two years have seen great change – we continue to face a global pandemic, seen the spark of the Black Lives Matter movement, climate change has moved further up the agenda and technology is at the forefront of business change.

Linklaters launches Supreme Court litigation practice in Amsterdam

Di, 11.01.2022 - 13:13

On 1 January 2022, Linklaters launched its Dutch Supreme Court litigation practice with the arrival of Bart Fleuren (counsel).

As part of a global offering, Linklaters has a high-end dispute resolution practice in the Netherlands, led by Daniella Strik (Partner, Litigation) and Gerard Meijer (Partner, Arbitration). With the addition of a Supreme Court litigation practice, Linklaters is able to offer its clients a ‘one stop shop’ for the most challenging litigation matters at every state court in the Netherlands.

Bart Fleuren is an expert in financial, company and competition law, in addition to, class actions and (international) arbitration before all Dutch courts. He has more than 10 years of experience in Supreme Court disputes and has acted in more than 50 cases before the Supreme Court of the Netherlands.

An example of the high-profile Supreme Court proceedings that Bart has been instructed on includes, a landmark case in Dutch financial law, in which the Supreme Court ruled that property that has been transferred conditionally can be pledged. As a result, Dutch lenders obtained an estimated € 20 billion in extra security on a yearly basis, which enhanced the provision of credit to Dutch companies. In 2020, Bart also represented a bank in Supreme Court proceedings regarding the assignment of a credit portfolio with a nominal value of approximately € 400 million, which led to a landmark ruling impacting the Dutch securitisation practice.

 

More recently, in 2021, Bart acted before the Supreme Court in a dispute on the enforcement and setting aside of three arbitral awards rendered under the Energy Charter Treaty with a value of in excess of $ 50 billion on behalf of the former majority shareholders of Yukos Oil. Previously, Bart acted successfully in a case before the Supreme Court on the control over the Dutch branch of the former Yukos Oil and in other notable cases in the energy sector.

 

Daniella Strik, partner and Head of Linklaters’ Dispute Resolution practice in the Netherlands, comments:

"Since the Dutch Dispute Resolution Practice was founded in 2010, Linklaters has become an established player in the high-end Dutch market for the resolution of complex international cases for our global clients. Our work has varied from the representation of Ageas in billion-euro disputes with the Dutch State, and ABN AMRO regarding the nationalisation of Fortis, to the defense of Steinhoff against billion-euro claims regarding accounting-irregularities. I very much look forward to the expansion of our practice with the addition of our Supreme Court offering.”

 

Gerard Meijer, International Arbitration partner at Linklaters, states:

Since large arbitrations increasingly lead to state-court proceedings, including Supreme Court proceedings, the addition of a Supreme Court lawyer with specialist expertise in this field is of great value.”

Linklaters bolsters growth with hire of industry heavyweights in Private Equity/M&A and Financial Regulation practices

Do, 16.12.2021 - 08:12

Linklaters today announced the hire of alumni Betty Yap and Carl Fernandes who will re-join the firm as partners in their corporate and financial regulation practices respectively.

Betty has an established reputation as one of the leading senior lawyers in the China private equity market and has extensive experience in cross-border M&A, strategic investments, joint ventures, special situations transactions and foreign direct investments involving China. She re-joins Linklaters from Paul, Weiss where she was Managing Partner of their China Practice. She previously worked as a Linklaters partner in Hong Kong SAR from 2004 to 2016, serving as the firm’s Head of China from 2011 to 2016. Upon re-joining, she will take on the role of Global Co-Head of the Financial Sponsor Group. She will be based in Hong Kong.

Carl has close to 25 years’ experience in London, Hong Kong and Australia, advising a wide range of financial services clients, including multi-disciplinary investment banks, broker-dealers, custodians, asset managers, private banks and financial market infrastructures, on complex regulatory issues. He re-joins Linklaters from Latham & Watkins where he was a partner in their Financial Regulatory Group, based in London. He previously worked at Linklaters in both Hong Kong and London from 2001 to 2018 and is the former Head of the firm’s Asia Financial Regulation practice. He will be relocating to Asia but will remain in London for a period of time.

Linklaters’ Global Head of Financial Regulation Peter Bevan, commented:

“Carl’s deep knowledge of the various regulatory landscapes and his long-standing relationships with key clients of the firm, across Europe and Asia, will be invaluable in further expanding our service offering and coverage to clients across our already leading platform.”

Linklaters’ Global Co-Head of the Financial Sponsor Group Alex Woodward, commented:

“Betty’s extensive experience and broad range of expertise, across a multitude of sectors, will complement our existing team, strengthening our private equity and financial sponsor capability in Asia to support our clients in achieving their strategic inbound and outbound investment objectives.”

Linklaters’ Asia Managing Partner William Liu, added:

“We are delighted to welcome Betty and Carl back to the firm. The hire of these prominent industry veterans reflects our commitment to further enhancing our truly ‘world class’ client offering. The wealth of experience they will bring to our well-established private equity/M&A and financial regulation practices, will enable us to provide unrivalled expertise to our clients to support them in maximising the opportunities in this diverse market.”

Linklaters advises Voltalia on the first multi-buyer Green CPPA in Europe

Di, 07.12.2021 - 17:55

Linklaters has advised Voltalia, an international player in renewable energy and the market leader in CPPAs (Corporate Power Purchase Agreements) in France, on the first multi-buyer Green CPPA in Europe. This innovative Corporate PPA, designed and implemented jointly by Voltalia and LCL, will allow ten companies to accelerate their energy transition by directly accessing the green electricity produced by a new 56 MW photovoltaic plant, which was developed and will be built by Voltalia for this purpose.

The ten companies involved are leaders in their sectors: Air France, Bonduelle, Daco France, Groupe Fournier, Gerflor, Coopérative Isigny-Sainte-Mère, Laiterie de Saint-Denis de l'Hôtel, LCL, Menissez, Serge Ferrari and Groupe Paprec.

Through this CPPA, these companies will share 100% of the electricity produced by the plant over the next 20 years. Voltalia will develop and operate the plant in the south of France, which will also host farming operations and thus help promote local development.

Linklaters is delighted to have participated in the structuring and implementation of the first multi-buyer Green CPPA in Europe and to continue its contribution to innovation in the renewable energy sector.

The Linklaters Paris team was led by François April, partner, and Samuel Bordeleau, counsel, along with Enzo Beule, associate in Energy and Infrastructure.

UK legal sector joins forces to launch new fund for aspiring social welfare solicitors

Mo, 06.12.2021 - 12:26

Linklaters is proud to support the City of London Law Society’s (CLLS) Social Welfare Solicitors Qualification Fund (SWSQF) – a unique cross-sector initiative focussed on increasing the number of social welfare solicitors in the UK.

Led by the CLLS, in partnership with training provider BARBRI, Young Legal Aid Lawyers, the Legal Aid Practitioners Group, and the Law Centres Network, the scheme provides the funds for dedicated social welfare legal workers from across the country to qualify as social welfare solicitors.

The cross-sector and nationwide fund targets dedicated social welfare legal workers by providing them with the funding to train and qualify as social welfare solicitors. It addresses the persistent shortage of social welfare lawyers by directly tackling barriers to qualification, such as debt or low wages.

Ellie Reeves MP, Shadow Solicitor General, said:

‘The Social Welfare Solicitors Qualification Fund is an excellent initiative that will help aspiring solicitors from all backgrounds to qualify as social welfare lawyers, ensuring that people who care deeply about public welfare will be able to begin their legal careers without worrying about costs. I am proud to offer the Fund my support and I encourage as many firms as possible to get involved.’

The Social Welfare Solicitors Qualification Fund (SWSQF) increases access to justice for users of social welfare services, at the same time as broadening entry to the legal profession. The fund covers the full training and assessment costs of successful applicants, each of whom once qualified will deliver approximately 1,500 social welfare law hours annually.

Richard Miller, Head of Justice at The Law Society of England and Wales, said:

‘This initiative will help rebalance a small part of the access to justice challenge – by ensuring people stay in social welfare legal work, and helping them gain the education and qualifications they need to act effectively as social welfare solicitors. This is a really good addition to efforts being made by many to ensure those in need have adequate legal representation when they most need it.’

Patrick McCann, Chair of the CLLS Training Committee and Global Head of Learning at Linklaters, commented:

‘I am tremendously proud of this scheme and it is wonderful to see it come to fruition. At the CLLS, we anticipate the first year of the scheme qualifying around 15 social welfare solicitors and the scheme is attracting more interest all the time.’

Mark Drury, Trainee Recruitment Partner at Linklaters, stated:

‘The scheme can help make a lasting difference to the sustainability of social welfare legal services – underpinning access to justice in the UK. Removing barriers to entry to and progression within the legal profession, the initiative will help dedicated individuals continue their vital social welfare work and qualify as much needed social welfare solicitors.’

Applications to the SWSQF are now open until 17 January 2022.

Linklaters works with ISDA on a new whitepaper on Voluntary Carbon Credits

Fr, 03.12.2021 - 16:14

Linklaters has worked with The International Swaps and Derivatives Association, Inc. (ISDA) on the whitepaper it released on Voluntary Carbon Credits (VCC) on 1 December 2022.

The paper considers the legal treatment of VCCs and certain other aspects of VCC transactions (such as when they might be regulated as derivatives). The paper also sets out recommended steps that can be taken to further develop legal certainty in VCCs at both a global and jurisdictional level.

It is hoped that the publication of the whitepaper will significantly enhance secondary markets in voluntary carbon credits to help transition to a low carbon economy by channelling funding into projects that reduce carbon emissions or remove carbon from the atmosphere.

The whitepaper can be accessed here.

Deepak Sitlani, Derivatives partner at Linklaters, commented:

“The whitepaper is a further step towards enhancing the use of VCCs in the derivatives context and we look forward to continuing to see how this market develops as we move to a low carbon economy.”

The whitepaper on Voluntary Carbon Credits included input from an ISDA working group that includes dealers, asset managers, institutional investors, funds and end users.

Linklaters advises Bulb’s energy administrators in first ever use of special administration regime for energy supply companies

Fr, 03.12.2021 - 12:35

Linklaters is advising Matthew Cowlishaw, Matthew Smith and Daniel Butters of Teneo Restructuring on their appointment, and ongoing role, as energy administrators of Bulb Energy Limited (“Bulb”) in the first ever use of the energy supply company administration regime which is intended to be used for large energy supply companies where it is not feasible to appoint a “Supplier of Last Resort”.

Bulb is the UK’s seventh largest energy company with 1,000 staff and over 1.6 million customers. It is the largest UK energy supply business to collapse following the rise in wholesale gas prices this year.

Bulb entered energy supply company administration on 24 November 2021 pursuant to a court order following an application made by the Gas and Electricity Markets Authority in reliance on section 156(1)(b) of the Energy Act 2004, and with the consent of the Secretary of State. In accordance with section 95 of the Energy Act 2011, the objective of the administration is, broadly, to ensure the continuity of energy supply to Bulb's customers at the lowest cost which it is reasonably practicable to incur. To assist in achieving this objective, the energy administrators agreed a £1.689 billion administration funding agreement ("AFA") with the Secretary of State for Business, Energy and Industrial Strategy. The energy administrators sought a direction from the court to enter into the AFA, which was granted on the basis that entry into the AFA was a "particularly momentous" decision to be taken by the energy administrators, consistent with Re Nortel Networks UK Limited (No.2).

The Linklaters cross-practice team is being led by Restructuring & Insolvency partners Richard Hodgson and Matthew Harding and managing associate Rowland Light, and includes Dispute Resolution partners Euan Clarke and Chris Stevenson, managing associate Elenor Parkhouse and Energy & Infrastructure partner Jeremy Gewirtz

Linklaters named winner at UK Diversity Legal Awards

Mi, 01.12.2021 - 18:29

Linklaters has been named the winner of the Mental Health and Wellbeing Award at the UK Diversity Legal Awards (UKDLAs) 2021, alongside Jivaan Bennett, Linklaters Dispute Resolution Associate, who has been awarded the Black Solicitor’s Network’s Rising Star Award.

Established by the Black Solicitors Network, the UKDLAs recognise, promote and celebrate the work and commendable efforts of individuals and organisations to engender greater diversity and inclusion across the legal profession.

Linklaters has been commended for its work in embedding mental health and wellbeing into its values and culture and, in particular, its support for those that may be living with domestic abuse. The firm was a leader in the legal sector in introducing a domestic abuse policy and package of support.

The Rising Star category recognises an exceptional lawyer, at the outset of their career, who stands out both in terms of strong legal, business, and client skills, and demonstrates leadership qualities and potential. Jivaan was recognised for his passion to create educational and professional opportunities for all and especially those from under-represented backgrounds. Amongst a host of other activities:

  • Jivaan designed and delivers “Headstart", an initiative to prepare Black and minority ethnic trainees for life at Linklaters;
  • He co-designed and helps to deliver the commercial awareness sessions on Linklaters’ Get Ahead programme (an initiative to assist the firm in its efforts to recruit trainees from under-represented backgrounds); and
  • He is also member of Linklaters’ Race Action Plan Steering Committee and has played a key role in helping the firm deliver its Race Action Plan.

Find out more about the UKDLAs here.

Linklaters appoints Andreas Steck as Regional Managing Partner and Nuno Lousa as Deputy Regional Managing Partner, Europe

Di, 30.11.2021 - 13:04

Linklaters has appointed Andreas Steck as Regional Managing Partner, Europe and Nuno Lousa as Deputy Regional Managing Partner, Europe, with effect from 1 January 2022.

Paul Lewis, Firmwide Managing Partner, said:

“Our ‘One Europe’ approach reflects the reality of our clients’ business across Europe and our new structure will encourage even greater cross-jurisdictional collaboration to ensure clients receive the very best one-stop service from the firm.”

Andreas Steck, said:

“The breadth and depth of our service offering to clients across Europe is unmatched, and it is a true privilege to have been appointed as Regional Managing Partner for Europe. I am looking forward to working with Nuno and our European partners and team to ensure our ‘One Europe’ approach will enable our clients to access the full range of our offering across the region.”

Nuno Lousa said:

“It is an honour to have been appointed as Deputy Regional Managing Partner for Europe and I look forward to working with Andreas, as well as the rest of the partners in the region, to ensure we continue to offer a world class service to our clients.”

In addition to his new role, Andreas Steck will continue in his current role as German Senior Partner until his term ends in 2022, after which a new German Senior Partner will be elected into the role.

Linklaters appoints new Global Practice Head for Investment Funds

Mo, 29.11.2021 - 19:39

Linklaters has announced the appointment of Silke Bernard, partner in the firm’s Luxembourg office, as its new global head of investment funds. Silke succeeds Matthew Keogh who completes his six-year term and will join the firm’s Partnership Board. Silke’s appointment takes immediate effect.

Silke joined Linklaters in 2004 and is an accomplished funds lawyer who works extensively with international asset managers and global banking groups. Dual-qualified in German and Luxembourg law, she has deep experience with various regulated and unregulated investment funds, particularly in the alternative funds area. Her field of expertise covers all asset classes with a particular focus on private equity, real estate, infrastructure and private credit.

Following the recent wave of regulatory change which integrates ESG factors into investment decision-making, Silke is one of the firm’s leading experts on sustainable finance. She is supporting asset managers and funds clients to meet a range of complex and new obligations across jurisdictions.

Silke is also leading industry efforts on European pension funds initiatives and on the implementation of the European regulation of ELTIFs. She is a regular contributor to working groups and committees that are part of Luxembourg’s industry body for investment funds, the Association of the Luxembourg Fund Industry.

Andrew Vickery, Global Head of Linklaters’ Finance Division, commented:

“Silke is a versatile and trusted advisor with extensive experience in highly-regulated and complex funds, with a track record of finding innovative solutions to her clients’ most pressing problems. The firm’s investment funds group, one of the deepest and most globally integrated funds practices in the world, will continue to thrive under her leadership.I would also like to take this opportunity to thank Matt on behalf of the firm, for his outstanding leadership and contribution in the role over the last six years.”

Linklaters’ clients benefit from an unparalleled overview of the global investment funds market, with specialist, full service expertise from over 90 lawyers, including 14 partners, in the firm’s global investment funds practice across all major financial sponsor centres, such as London, Paris, New York, Luxembourg, Frankfurt, Hong Kong and Tokyo.

In 2020, the practice advised on US$62bn of fundraising by top tier sponsors across private equity, real estate, infrastructure and credit strategies whilst acting for the world’s largest cornerstone investors who committed more than US$20bn to 148 private funds and co-investments.

Linklaters on the world's first limited recourse financing for the deployment of electric vehicle charging stations

Mo, 29.11.2021 - 11:41

Linklaters has advised EV Cars (a subsidiary of Meridiam) and Meridiam as part of EV Cars' project to deploy more than 200 fast and ultra-fast charging stations for electric vehicles in the car parks of the Carrefour group's hypermarkets in France, which is expected to be completed by the end of 2023 (approximately 2,000 chargers).

Linklaters LLP (Paris) first advised Meridiam and EV Cars on the structuring of the partnership with the Carrefour group and on the leases to be concluded in the context of this partnership with the entities of the Carrefour group.

Linklaters LLP (Paris) then continued to assist Meridiam and EV Cars by structuring, drafting and negotiating the project documents entered into with the Allego group (i.e. construction contract, operation and maintenance contract and interface contract) and further structured, drafted and negotiated the financing raised on limited recourse basis to finance the construction and the deployment of the project with French and foreign credit institutions, which financing constitutes a world first in the sector. The equity bridge facility is provided to EV Cars by BRED and Société Générale while the project and VAT facilities are provided by Arkéa, Banco Santander, BBVA, BRED, CACIB and La Banque Postale.

The Linklaters team was led by Darko Adamovic (partner), with Aymeric Voisin (managing associate), Etienne Paletto (associate) and Abdullah Konate (associate) for the partnership and project contracts aspects, and Pauline Portos (managing associate), Etienne Paletto (associate) and Abdullah Konate (associate) for the financing aspects. Vincent Poilleux (counsel) handled the implementation of the hedging instruments.

Françoise Maigrot (partner) and Saadoun Alioua (associate) were involved on the real estate aspects and Pierre Guillot (partner) and his team advised on the regulatory aspects.

Linklaters named a top employer for social mobility

Mi, 24.11.2021 - 11:34

Linklaters has been named a top 30 employer for advancing social mobility in the Social Mobility Employer Index 2021, for the fifth year in a row.

The Social Mobility Foundation’s Index recognises UK employers who are taking positive action to drive social mobility within their organisation and are making efforts to ensure that they are accessing and progressing talent from all backgrounds. The businesses and organisations represented in the Index have been identified by the Social Mobility Foundation as leading the way on social mobility.

This year, Linklaters were pleased to see that submissions for the Index reached a record high, with 203 participating employers, collectively employing 1.35 million people across the UK. Employers were assessed across seven key areas, including their work with young people and how they attract, retain and progress talent from less advantaged backgrounds.

David Martin, Global Diversity and Inclusion partner at Linklaters, commented:

“I’m very proud of all of the work that is being done at Linklaters, which has led us to be featured in the Social Mobility Employer Index again this year. It’s fantastic to see more employers than ever taking part and collectively taking action. Our ambition is to be a leader on social mobility, and we will continue to work hard to level the playing field and ensure that an individual’s background is never a barrier to opportunity at Linklaters.”

Linklaters is committed to ensuring that personal background, social identity and socio-economic circumstances are not barriers to success, with social mobility being one of the global priorities within the firm's Diversity and Inclusion strategy.

BNY Mellon Publishes Custody Documents for Negotiation on ISDA Create

Di, 23.11.2021 - 19:40

The International Swaps and Derivatives Association, Inc. (ISDA) and Linklaters have announced that Bank of New York Mellon (BNY Mellon) has published key custodial documentation on ISDA Create, a move that will bring greater efficiency to the negotiation of custody agreements as firms prepare for phase six of the regulatory initial margin (IM) requirements for non-cleared derivatives in September 2022.

Market participants are now able to access BNY Mellon’s triparty and third-party account control agreements (ACAs) via the ISDA Create platform, enabling firms to negotiate and agree those documents online with full digital capture of the resulting legal data. Having both BNY Mellon’s ACAs – which govern the terms of collateral segregation and management between a custodian and two trading counterparties – and ISDA’s credit support documents available on ISDA Create means BNY Mellon clients have the opportunity to complete the legal documentation required for regulatory IM on a single platform, simplifying compliance efforts.

Katherine Tew Darras, ISDA’s General Counsel said:

“Phase six of the initial margin requirements will bring several hundred small entities into scope of the rules, many of which lack the resources to conduct lengthy bilateral negotiations of legal agreements with all their counterparties and custodians. Having both custody and regulatory IM documentation available on the ISDA Create online platform will bring significant efficiencies to the negotiation process and help phase-six firms to meet the September 2022 compliance date.”

Doug Donahue, Partner at Linklaters said:

“Phase six will undoubtedly be a challenge for our entire industry, so we applaud BNY Mellon for deciding to leverage the capabilities of ISDA Create to negotiate all of its phase-six ACAs. This commitment will benefit both its clients and the industry more broadly. Among other things, by negotiating on ISDA Create, BNY Mellon will significantly reduce the administrative burden on phase-six firms and simultaneously give them the ability to operationalize their collateral data with no additional effort.”

Ted Leveroni, Head of Margin Services, BNY Mellon Markets said:

“BNY Mellon is pleased to publish and negotiate our regulatory initial margin triparty and third-party ACAs on ISDA Create, which gives us and our clients the opportunity to complete the legal documentation required for margin segregation service on a common platform. This places our firm in a better position to service clients during phase six, saves our clients time, simplifies compliance efforts while also giving all participants a complete digital repository of the resulting legal data.” 

ISDA Create was launched in 2019 to help firms negotiate IM documentation to comply with new margin rules. The platform has since expanded to include the ISDA Master Agreement, generic amendment agreements to ISDA published documents and an interest rate reform bilateral template package to facilitate the transition to risk-free rates. ISDA Create also includes multi-fund management umbrella functionality and incorporates the ISDA Clause Library, which provides standardized drafting options for certain provisions within the ISDA Master Agreement and ISDA’s collateral documentation.

ISDA Create is an online solution built by Linklaters’ internal technology start-up Nakhoda and is available to ISDA members and non-members. Additional information relating to ISDA Create, including fact sheets, webinars/videos and presentations, is available on the ISDA Create InfoHub. To schedule an online demo of the ISDA Create platform, please contact isdacreate@isda.org.

Linklaters launches first of its kind Business Teams Virtual Internship

Di, 23.11.2021 - 11:58

Linklaters has launched a new and first of its kind global Business Teams Virtual Internship Programme – broadening access to the firm’s best-in-class Business Teams functions.

An extension of the firm’s popular virtual legal internship, the new programme is aimed at 16- to 18-year-old students and provides an insight into the day-to-day workings of the key functions that comprise Linklaters’ Business Teams, and the wide range of career options available at the firm, alongside the legal career path.

Consisting of five modules, the free online programme gives school students the opportunity to virtually experience working in one of the firm’s Business Teams functions: Marketing, Finance, Legal Operations, Technology and HR.

Students will receive instructions, have access to resources to help with the tasks and submit work that reflects the day-to-day responsibilities of one of Linklaters’ Business Teams. The platform uses e-learning style technology to achieve this and provides model answers, so students can self-mark their work.

Matt Peers, Linklaters’ Global Chief Operating Officer, commented:

“Our Business Teams provide critical services to support our lawyers in delivering a best-in-class service to our clients. To attract and develop future top talent in our Business Teams, we need to keep raising awareness of access to opportunities at our firm and ensure we’re accessing talent from a diverse range of backgrounds. Our Business Teams Virtual Internship looks to do just that.”

The virtual internship complements the firm’s recent launch of its Business Teams Advance Programme – an 18 month programme specifically designed for talented individuals from diverse backgrounds looking to advance their career by receiving on the job training whilst being financially supported for a relevant external qualification.

As part of Business Teams Advance, individuals work with – and learn from – innovative business professionals with diverse experience across chosen fields within the Business Teams function, including Business Development & Marketing, Corporate Affairs, Finance, Human Resources, Sustainability and Technology. Find out more about the programme here.

Broadening access to careers at Linklaters is key to achieving Linklaters’ goal, outlined in its Race Action Plan, of supporting the next generation of Black and minority ethnic talent, including increasing the opportunities available to students in the early stages of the career life cycle.

Linklaters Head of Brazil recognized by Leaders League

Mo, 22.11.2021 - 18:37

Linklaters partner Matthew Poulter has been recognized as “highly recommended” by Leaders League for his international capital markets work in Brazil.

Matthew is based in the firm’s São Paulo office where he is the Head of the Brazilian practice and advises clients on strategically important cross-border corporate and finance transactions in the United States and Latin America.

Earlier this year, Matthew advised Petrobras and Vibra Energia (formerly BR Distribuidora) on what was at the time the largest equity transaction year-to-date in Brazil.

Leaders League is a media and international rating agency that provides strategic information for decision-makers through its rankings and market research. Rankings are based on in-depth analysis, extensive interviews and quantitative and qualitative criteria.