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Legal

August 3, 2011

A feud has broken out between family shareholders of the Brazilian brewing company Schincariol, after one side of the family sold half of the business to an outside shareholder apparently not notifying the other family members.

Brothers Alexandre and Adriono Schincariol, who own 50.45% of the brewing group through a holding company called Aleadri-Schinni Participacoes e Representacoes, sold their entire stake to Tokyo-based Kirin Holdings, according to a statement issued on 2 August.

Withers eyes South East Asia for expansion

July 25, 2011

Private client law firm Withers plans to open an office in Singapore as it targets the city-state’s big wealth management sector.

A spokeswoman for Withers told Campden that the launch was subject to approval from the partners, but was unable to give specific dates. She said: “Singapore is an important part of the global wealth horizon and we are seeing a lot of activity in the region.”

O brave new world?

July 13, 2011

Not for the first time, at News Corporation, has a global company suffered the slings and arrows of outraged criticism. Oil group BP was humbled last year for allowing oil to leak from one of its wells in the Gulf of Mexico, aided and abetted by third-party engineering contractors. Critics, led by US politicians, slammed its long-term safety record.

Not for the first time, at News Corporation, has a global company suffered the slings and arrows of outraged criticism.

Oil group BP was humbled last year for allowing oil to leak from one of its wells in the Gulf of Mexico, aided and abetted by third-party engineering contractors. Critics, led by US politicians, slammed its long-term safety record. Chief executive Tony Hayward walked the plank, and the company was forced to pay hefty compensation. To this day, court actions rumble on.

Is business dirty?

June 27, 2011

Woody Allen once said that sex is only dirty if you are doing it right. Lots of people think something similar about business. There’s a narrative running from the American robber baron capitalists through Gordon Gekko and directly to The Apprentice and even The Wire, which says that business is some sort of dog-fight, a Darwinian scramble in which there are winners and losers.

Woody Allen once said that sex is only dirty if you are doing it right. Lots of people think something similar about business. There’s a narrative running from the American robber baron capitalists through Gordon Gekko and directly to The Apprentice and even The Wire, which says that business is some sort of dog-fight, a Darwinian scramble in which there are winners and losers.

Santander’s Botin family faces tax fraud allegations

June 17, 2011

The family behind Spain’s banking group Banco Santander has denied wrongdoing after being accused of alleged tax fraud by the country’s national court.

According to reports, Santander chairman Emilio Botin and his daughter Ana Patricia Botin are under investigation, along with 11 other family members, for potential unpaid taxes. The Spanish court said that the alleged tax fraud, to the tune of around €120,000, occurred at the Botin family’s deposits at HSBC’s Swiss private bank.

Ceasefire over in Bettencourt family battle

June 9, 2011

Francoise Bettencourt-Meyers, daughter of L’Oreal heiress Liliane Bettencourt, has filed another legal challenge questioning her mother’s mental state, only six months after dropping a previous challenge.

According to reports, Bettencourt-Meyers has accused her mother’s lawyer, Pascal Wilhelm, of allegedly taking advantage of the 88-year-old heiress after Bettencourt invested €170 million in a company belonging to one of her lawyer’s clients.

Law firm expands private wealth offerings

June 1, 2011

Law firm Speechly Bircham is opening new offices in Luxembourg and Zurich, in a move to take advantage of the growing number of family office and ultra-high net worth clients on the Continent.

Hermes family determined to retain control of business

May 20, 2011

The Hermes family, majority owners of the French luxury goods company of the same name, said they were determined to remain in control of the business following an attempt to stop them using their voting rights.

In a statement on 19 May, the Hermes family said that the Association for the Defence of Minority Shareholders has filed an application to deprive the family of their voting rights during the annual general meeting, scheduled for 30 May.

Holding families to account

May 18, 2011

Accountancy firms like family businesses. After all, family businesses offer scope for them to charge lucrative fees across a host of disciplines for both the business and the family. And as long as these fees aren’t too high and trust is established, accountancy firms can build up lasting relationships between themselves and business principals.

The great privacy debate

May 10, 2011

If you are a wealthy person interested in protecting you privacy, the UK was always a good place to live. Equipped with some of the sharpest legal minds on protecting privacy anywhere, sympathetic judges and fool-proof gagging orders – the UK has been a top destination for those looking for anonymity.