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Lawrence Stephens selects Trekstock as its 2024 charity partner

Posted on: January 26th, 2024 by Maverick Freedlander

We are delighted to share that Lawrence Stephens has selected Trekstock – a charity that provides resources to young adults living with a cancer diagnosis – as its charity partner of the year for 2024!

Trekstock was founded in 2009 by Sophie Epstone after she became aware of a huge gap in tailored support services for people diagnosed with cancer in their 20s or 30s.

Trekstock’s mission is to ensure that every young adult in their 20s or 30s living with cancer and its after-effects gets the tailored support they’re looking for. The charity provides a comprehensive collection of events, specialist programmes, resources, and an online forum, designed specifically for the Trekstock community to meet their needs, whatever stage they are at in living with cancer.

Lawrence Stephens are proud to support a worthy cause. In further support, the team is excited to take part in Trekstock’s Trek This City challenge – a 10-mile trek through nine Royal Parks from Richmond to London Bridge, which will take place on 19 May 2024.

Lawrence Stephens will offer its office space to Trekstock for hosting events throughout the year, so watch this space for more information in the coming months!

Managing Director, Steven Bernstein comments: “We are all delighted to begin this partnership with a charity doing such important work. Trekstock makes a massive difference in the lives of young people with cancer, and we are delighted to support such an important cause.”

Founder of Trekstock, Sophie Epstone comments: “We at Trekstock are so excited to work with the team at Lawrence Stephens this year! It is deeply gratifying to be chosen as Lawrence Stephens’ charity partner, and we look forward to furthering our shared goal of helping young people experiencing the effects of cancer.”

For more information about Trekstock and how to support their important work, follow the link here.

James Lyons comments on Tui’s delisting from the London Stock Exchange in Law360

Posted on: January 8th, 2024 by Maverick Freedlander

James Lyons, Director in the Corporate and Commercial team, discusses the wider market implications of travel giant Tui’s plan to delist from the London Stock Exchange, in Law360.

James’ comments were published in Law360, 05 January 2024, and can be found here.

“Whilst some may perceive this as a blow to the appeal of a UK listing, this decision should be viewed within the particular context of TUI, a German company borne out of a legacy merger.  It already has listings in Frankfurt and Hanover, and more than 75 per cent of the trading in its shares occurs in Germany, so this is a decision which appears to be being made for reasons very specific to TUI rather than necessarily reflective of the London market itself.  

“But it is indicative of the global competitive listing environment and another example to demonstrate why the FCA cannot rest on its laurels and should continue to push forward with changes to retain the appeal of the London market for international businesses.”

Lawrence Stephens completes warehouse lease for LT Foods Europe

Posted on: December 6th, 2023 by Maverick Freedlander

We are pleased to announce that Lawrence Stephens’ Commercial Real Estate team have recently completed the new lease of a warehouse site for valued client LT Foods Europe Holdings Limited.

LT Foods, an established global food company, currently manufacture and distribute the leading rice brand in India and are the number one speciality food brand in the U.S.  Located in Harlow, the 90,000 square feet warehouse will be used for the storage and manufacturing of rice and other food products, allowing the company to fully establish its UK business and presence.

Working hard to get this deal across the line, the team from Lawrence Stephens was led by Directors Danny Schwarz and Nisha Saigal, with assistance from trainee solicitor Alex Ruder.

Nisha Saigal commented: “We are delighted to have completed this deal for LT Foods Europe. Through this new lease, the company will be able to substantially expand its offering and establish its UK business – a bright future ahead!”

Chairman, Vijay Arora at LT Food Holdings commented: “As we take the next steps for our company, the new warehouse lease will allow us to grow and strengthen our business in the UK. The assistance and advice from the team at Lawrence Stephens was truly invaluable in securing the swift and effective completion of this deal.”

Asim Arshad and Ricardo Geada discuss crypto’s legitimate use in The Times

Posted on: November 23rd, 2023 by Maverick Freedlander

Senior Associate Asim Arshad and Director Ricardo Geada discuss the importance of crypto and its legitimate use cases, while contextualising the technology’s misuse, in The Times.

Asim and Ricardo’s article was published in The Times, 23 November 2023, and can be found here.

It is critical for regulators, officials and the public at large to differentiate between the technology of cryptoassets and its potential misuse. A broad-brush approach due to the actions of a few is misleading, short-sighted, and indicates a limited understanding of the technology, thus hampering its development as a powerful force for progress and financial inclusion.

Collaboration should be key in any strategy to combat crypto’s misuse, and UK authorities should more actively engage with other regulatory bodies overseas in order to share insights and intelligence to address crypto-related crimes, while fostering the growth of legitimate crypto businesses. The misuse of cryptoassets should not overshadow its broader, legitimate applications.

Contrary to common misconception, it is crucial to understand that most blockchains are inherently pseudonymous, rather than anonymous. Every transaction on public blockchain is recorded on a transparent ledger, making the transaction history traceable. This traceability can serve as a powerful tool for law enforcement. This perpetual audit trail enables authorities to trace illicit activities back to their source.

The UK’s ambition to position itself as a global hub for crypto innovation is commendable, and is one of the main reasons that growth of crypto in the UK has far outpaced the likes of the US, Germany and Japan in recent years. However, striking a balance between robust regulation and fostering innovation is crucial. Overly stringent regulations, arguably like we are seeing with the new cryptoasset financial promotions regime, might stifle the growth of the sector, pushing innovators and investors towards more accommodating jurisdictions instead.

The emergence of crypto-related crimes underscores the need for a comprehensive educational push. Regulatory bodies, in conjunction with the industry itself, need to work towards educating law enforcement agencies, financial institutions, and the general public in what is a nascent and constantly developing technology.

It is also crucial to recognise that the relevance and utility of cryptoassets differ across global contexts. For someone in a developed, politically stable country, the urgency or use case of crypto may not be plainly obvious. However, for individuals in countries with economic instability, hyperinflation, or restrictive financial systems, crypto offers a lifeline and can serve as an alternative financial system, providing financial inclusion and allowing people to preserve their wealth against devaluing local currencies. Dismissing crypto merely based on their irrelevance to certain regions or occasional misuse overlooks their broader potential and global impact.

Understanding and leveraging the technology of cryptoassets and their underlying blockchains require a nuanced approach that recognises their potential use cases as well as the need for adequate regulation to mitigate misuse.

Ricardo Geada speaks on cannabis and tobacco synergies at CB Expo Dortmund 2023

Posted on: October 23rd, 2023 by Maverick Freedlander

Last month, Director and Head of Regulatory Solutions Ricardo Geada spoke as part of a panel of experts on the intersection between the cannabis and tobacco industries at CB Expo Dortmund 2023.

Speaking alongside Lily Temperton (Tocar Strategic Advisors/ Hanway), Paul Furfaro (Village Farms International), Deepak Anand (Vancouver Island University) and Nick Kenny (KBS), Ricardo discussed comparisons in trade, production, and taxation across these two sectors, as well as what lessons the cannabis industry can learn from the tobacco industry.

Click below to listen to Ricardo’s appearance in full.

Lawrence Stephens advises First 4 Safety Limited on the sale of the company to Amtivo Group

Posted on: March 23rd, 2023 by Maverick Freedlander

Lawrence Stephens’ Corporate and Commercial team acted for the selling shareholders of First 4 Safety Limited on the sale of the company to Amtivo Group, in a deal which was completed on 14 March.

Founded in 2005, First 4 Safety Limited is a leading provider of online health and safety training courses, supplying IOSH approved training to workplaces across the UK. Their acquisition by Amtivo, providers of accredited certification, training and technology, represents the group’s move to grow and expand their existing portfolio.

The team was led by James Lyons, Director in the Corporate and Commercial department at Lawrence Stephens, who worked alongside the team from First 4 Safety and their advisers Moore Kingston Smith to successfully negotiate the sale of the company on behalf of its shareholders.

James Lyons commented: “It was a pleasure to work alongside First 4 Safety on this deal, and we were delighted to negotiate the sale swiftly and efficiently. Acting on behalf of shareholders Tom Hoey and John Pillinger, we managed to navigate the various complexities and ensure that the deal was a success for both First 4 Safety and Amtivo.”

Tom Hoey commented: “James and the team at Lawrence Stephens provided world-class advice throughout this process, and their hard work and dedication led to a successful and efficient sale – their advice was invaluable in completing this deal.”

Lawrence Stephens advises client MM-Eye on their move to employee ownership

Posted on: January 31st, 2023 by Maverick Freedlander

Lawrence Stephens’ corporate team acted on behalf of MM-Eye in connection with the sale of the company’s shares to an employee ownership trust which will now own the company on behalf of its employees.

MM-Eye, a market research agency, was formed 15 years ago and has transitioned through several owners, most recently being acquired in 2020 by its longstanding management team. The latest transition towards employee ownership represents an exciting development for the business, empowering MM-Eye’s employees to have a say in how the business is run and to share in the profits which it generates.

The team was led by James Lyons, Director in the Corporate and Commercial department at Lawrence Stephens, also working closely with MM-Eye’s accountants Beavis Morgan.

James Lyons commented: “It was a pleasure to provide legal advice to MM-Eye and their management team in helping them deliver on their commitment towards employee ownership of the business – a “win-win” for all stakeholders, and an exciting new chapter for the business. We look forward to seeing MM-Eye go from strength to strength.”

Damien Field, Managing Director at MM-Eye, said: “We are very pleased to have completed this transaction with notable support from James Lyons and the team at Lawrence Stephens. James provided invaluable advice with a keen grasp of the particularities of a sale to employee ownership and enabled a smooth process from start to finish.”

Steven Bernstein discusses private ownership of businesses in Law360

Posted on: January 23rd, 2023 by Maverick Freedlander

Steven Bernstein, Senior Director in the Corporate and Commercial department and co-founder of Lawrence Stephens, argues that some companies fare best when owned privately, in Law360.

Steven’s comments were published in Law360, 20 January 2023.

Discussing Seraphine Group PLC’s £15.3M Takeover by Mayfair Equity Partners LLP, Steven commented: “From my perspective, it’s an interesting example that maybe not every business is well suited to be on the public market…

“And then there are some businesses that are just better owned privately, because there’s just a greater degree of flexibility, and you can make quicker decisions without the scrutiny that comes from being in a public space.”