Last summer we were asked to advise the Principality of Liechtenstein on the ground-breaking tax agreements that it was proposing to enter into with the UK. This led to John Carrell, our head of tax, joining the Liechtenstein negotiating team which hammered out the terms of the Memorandum of Understanding and the Liechtenstein Disclosure Facility at meetings with HMRC in Vaduz, Zurich and London.Under these agreements, Liechtenstein undertook to require UK investors with undeclared bank accounts to close them within five years or come forward to HMRC and pay the tax that was due. In return, the Principality was able to secure for investors very generous terms from HMRC. These terms are set out in the Liechtenstein Disclosure Facility and are so attractive that those with undeclared accounts in other countries are now moving them to Liechtenstein. The agreements have been widely perceived as a coup for the Principality.Ground-breaking tax haven agreementNegotiating the high-profile Liechtenstein Disclosure Facility with HMRCSelected Client Highlights of the Year" I would like to express my gratitude for your most valuable contribution in the negotiations with HMRC. You not only became a dedicated (and diplomatic) team member, but your knowledge in tax and company law (including Liechtenstein's holding structures) and your tenacity on major issues you identified, have considerably improved the agreements with the UK."Prinz Nikolaus von LiechtensteinLiechtenstein's ambassador to the European Union who led the negotiations, in a letter to John Carrell.18Farrer & Co | 2010 ReviewFarrer & Co | 2010 Review19

Selected Client Highlights of the Year We advised the British Library on its partnership with brightsolid online technology, owned by DC Thomson, for the digitisation of up to 40 million pages of the Library's newspaper archive. The contract was procured using the new Competitive Dialogue procedure. The British Library holds around 750 million paper pages and 370,000 reels of microfilm in its various repositories. The archive is of newspaper, magazine, journal, serial, periodical and other content dating back to the 16th century, much of it held by virtue of legal deposit legislation. Legal deposit helps to ensure that the nation's published output is collected systematically in order to preserve the material and make it available for future use. The British Library aims to make 80% of its "reader requests" for newspaper material available by means of digital surrogates by 2017.The digitisation project with brightsolid represents a significant step towards achieving that objective.A project of this scale requires particular project management skills and involves input from many different experts. With our breadth of expertise and, in this case, significant experience of both the cultural and media sectors, we were perfectly placed to undertake such multifaceted, complex work.Digitising the British Library"Mass digitisation unlocks the riches of our newspaper collections by making them available online to users across the UK and around the world; by making these pages fully searchable we will transform a research process which previously relied on scrolling through page after page of microfilm or print."Dame Lynne Brindley dbe, frsaChief Executive, British Library20Farrer & Co | 2010 ReviewFarrer & Co | 2010 Review21