News & Analysis as of September 18, 2024

European Union › Beneficiaries

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Private Credit Deep Dives – Going Exclusive (Europe)

Proskauer Rose LLP on 4/25/2024

In recent months, market participants have become increasingly optimistic about the probability of a “soft landing” in the US economy, whereby tight monetary policy is shown to have tamed inflation whilst avoiding triggering...more

Make No Mistake: Examining the Hastings-Bass Rule on Fiduciaries’ Mistakes Under Cayman Islands Law

Conyers on 5/10/2023

The Cayman Islands reformed its trust laws to provide a statutory mechanism by which ﬂawed decisions of trustees and other ﬁduciaries can be set aside on application to the court. The codiﬁcation of the Hastings‑Bass rule...more

Trust Registration Service: Who Is Affected?

McDermott Will & Emery on 4/1/2021

The Fourth Money Laundering Directive ((EU) 2015/849) (MLD4) was implemented in the United Kingdom as a result of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017 (SI...more

A Sea Change for Beneficiaries' Right to Information?

McDermott Will & Emery on 3/3/2017

The Court of Appeal’s ruling in Dawson-Damer v Taylor Wessing offers beneficiaries rights of access to personal data held by trustees and their legal advisers. This is a landmark case in which our clients, the claimants,...more

Measures to support financial stability introduced by Law Decree 237 of 23 December 2016

Orrick, Herrington & Sutcliffe LLP on 1/24/2017

On 23 December 2016 law decree 237 (the "Decree") was published in the Official Gazette no. 299 and entered into force on the same day. The Decree was adopted in light of events that have affected Banca Monte dei Paschi...more

German Federal Tax Court: Distributions from U.S. Trusts Are Subject to German Gift Tax

McDermott Will & Emery on 4/10/2013

The German Federal Tax Court clarified that distributions from foreign trusts to beneficiaries resident in Germany are subject to German gift taxation, but did not address the possible imposition of both gift and income tax...more

Dividend Premiums – Status Quo

K&L Gates LLP on 1/8/2013

Most companies close their accounts at the end of the fiscal year on December 31st. It is thus the moment to determine whether payment of a “dividend premium” to employees is required. Since January 1st, 2011, a decision to...more

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