Avocado Roundup is a quick morning review of top legal, tax, and climate news. It’s written by humans.
- Dentons LLP is splitting up with giant Chinese firm Dacheng eight years after a tie-up with the Beijing-based firm allowed Dentons to stake its claim to being the world’s biggest law firm by headcount. (The Lawyer) Dentons reportedly said it was spurred to make the move by the Chinese government’s regulatory clamp-down on foreign companies. (Financial Times)
- Italy slapped banks in the country with a one-time 40% tax on the profits they’re raking in on high interest rates, and it reportedly plans to use the revenue to help mortgage holders. (Reuters)
- France’s tax office Monday published an “urgent” correction to its recent announcement of a public consultation on its planned simplification of tax rates applying to certain food items and inputs into food production and agricultural production. (Bofip.impots.gouv.fr)
- Paris has since 2021 taken in 6.5 million euros ($7.13 million) in fines for violations of its rules on touristic lodging rentals such as those offered on Airbnb. (Economie Matin)
- Florida’s tax take from tourism could shrink as at least a dozen organizations have already decided to cancel their conventions or move them out of the state in response to recent political and legislative trends in the state. (CBS News)
- Morgan Lewis grabbed a five-partner transactional restructuring and bankruptcy team from Stroock & Stroock & Lavan in New York. The team is led by partner Richard Stern and includes Michael Luskin, Stephan Hornung, Matthew O’Donnell, and Alex Talesnick. (MorganLewis.com)
- Wilson Elser picked up four Lewis Brisbois litigation partners in New York to expand its crisis management and emergency response capabilities. The group of Ellen Greiper, Megan Boyar, and Nolan Comfort, advising major insurance carriers and national trucking and construction companies, joined the construction and transportation practices this month. Thomas Vu, who specializes in New York labor law defense and general liability defense, joined the complex tort and general casualty and construction practices in July. (WilsonElser.com)
