Chinese ruling changes landscape for value adjustment mechanisms in onshore private equity transactions
The Supreme People’s Court of China rendered its final judgment on 7 November 2012, in the Haifu Investment Co., Ltd. v Gansu Shiheng Nonferrous Resources Recycle Company Limited. Despite the Supreme Court’s lack of appreciation of the role of private equity in China, the decision brings much-needed guidance to the structuring of value adjustment mechanisms commonly used in onshore private equity transactions in China.
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California’s first carbon allowance auction on 14 November 2012 featured plenty of demand but a lower-than-expected closing price, based on results released on Monday by the California Air Resources Board.
The FTC announced a potentially groundbreaking settlement with the social networking app Path and released an important new staff report on Mobile Privacy Disclosures late last week.