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Law Society risks claims over forced Christmas leave

Law Society staff have been clobbered with a special holiday treat from senior bosses – they are being forced to take annual leave between Christmas and New Year in a move lawyers speculate could be challenged in court. The ornate London offices of the body representing solicitors in England and Wales have historically remained open…

Central Bank of Cyprus publishes Code of Conduct on defaulting loans

Central Bank of Cyprus publishes Code of Conduct on defaulting loans Having regard to the financial difficulties faced by Cyprus bank borrowers and the increased number of non performing loans in Cyprus, the Central Bank of Cyprus has published a Code of Conduct for the treatment of borrowers that face financial difficulties. The Code applies…

Linklaters tumbles from top 10 as public M&A market stalls in 2013

After holding the top spot for two consecutive years, Linklaters has fallen into 13th place in the 2013 UK M&A rankings. The figures, which are compiled by Thomson Reuters, encompass all deals launched between 1 January and 16 December 2013 that involved a UK party. Linklaters’ deal value fell by 72 per cent over the…

Law Society leadership in chaos as solicitors pass no-confidence vote

Pressure is mounting on key figures at the Law Society to resign after solicitors said today they had no confidence in the leadership’s position on government proposals to slash legal aid rates. James Parry – the criminal law specialist partner who triggered a special general meeting – said the society’s president and chief executive “need…

Current status of capital restrictions in Cyprus

A series of temporary capital restrictions measures has been imposed in Cyprus in late March 2013 with the aim to avert the collapse of the banking sector and to safeguard the stability of the Cypriot banking system. The temporary capital restrictions were implemented through decrees issued by the Minister of Finance pursuant to the provisions…

Cyprus introduces a new Administrative Court

A new draft law on the establishment of a new autonomous Administrative Court is under discussion in Cyprus.  This initiative, probably one of the most fundamental developments of the Cyprus legal system of justice in the last decade, aims to diminish the case load of the Cyprus Supreme Court, which currently adjudicates on administrative and…

Harris Kyriakides LLC establishes Cyprus law internship program in association with the University of Oxford

Harris Kyriakides LLC has reached an agreement with the University of Oxford that will allow the operation of a summer internship program to be offered to Oxford University law students interested to enhance their knowledge and expertise on the Cyprus legal system. In establishing this program, Harris Kyriakides LLC has teamed up with the Internship…

Ministry of Finance issues roadmap for lifting capital restrictions in Cyprus

The Ministry of Finance in Cyprus has announced a road map for the lifting of restrictions on bank transactions imposed in March 2013. In a statement issued on 18 September 2013, it was announced that restrictive measures enforced on grounds of public interest and to ensure stability of the financial system will be gradually removed….

Wragges votes in favour of LG merger to create Wragge Lawrence Graham & Co

Wragge & Co and Lawrence Graham (LG) are to finally merge after partners voted in the move on Monday, creating a £170m firm under the name Wragge Lawrence Graham & Co. The two firms started speaking in 2009, when Wragges began drawing up a list of London merger targets as it looked to invest £20m…

Osborne Clarke sets up shop in Amsterdam

Osborne Clarke is to launch an office in Amsterdam in the New Year, marking the firm’s fourth international opening with a year. The new base will open focus on the digital business sector initially, with plans to expand into real estate and renewables over the next financial year. No head has been decided as yet…