BDK has been ranked as a tier-one firm in corporate, M&A and privatisation, competition and real estate in the 2014 edition of The Legal 500.
Conyers Dill & Pearman has promoted six attorneys to the role of partner or director.
Eversheds has advised elderly care provider Four Seasons Healthcare on the acquisition of seven homes from Majesticare.
Dare to share? Proposed new directive should help protect your confidential information when doing business in Europe download
The European Commission’s new directive should help businesses to stop others from obtaining, disclosing or using their trade secrets in the EU without their permission.
Market abuse regime download
The current EU market abuse regime is in line for an overhaul. It is anticipated that the implementation of the new proposals may not come into force until 2016.
Dorset County Council Trading Standards Service has prosecuted Apple Group Holdings for making direct marketing calls to people who have registered on the TPS’s ‘do not call’ list.
Norwich Pharmacal relief — obtaining information relating to a BVI company from its registered agent download
This briefing note deals with the circumstances in which and methods by which non-public information about a BVI company can be obtained by a third party.
Withers has announced that it has been shortlisted as the leading tax team in a law firm at the annual Lexis Nexis Taxation Awards.
Bulgaria: decision of the Supreme Court regarding termination of a lease agreement because of an economic adverse change download
The Supreme Cassation Court of Bulgaria has comprehensively expressed its opinion on the substantive legal aspects of the economic adverse change clause and ruled on the termination of a lease agreement on this ground.
Minter Ellison has created a quarterly update to discuss the tax issues that you may wish to raise with your board during each reporting period, starting with Q3.
We welcome the Financial System Inquiry (FSI) and the opportunity to offer detailed insights and recommendations to the inquiry via this written submission.
An issues paper has been released as part of the government’s competition law and policy review announced by minister for small business Bruce Billson in December 2013.
Jeffrey B Grill has been appointed to serve as managing partner of Pillsbury’s Washington DC office, effective 14 April 2014.
Conyers Dill & Pearman has advised 58.com, in connection with a follow-on offering in the US of 13,800,000 Class A ordinary shares.
The new Companies Ordinance (Cap. 622), which came into effect on 3 March 2014, is a substantial rewrite of Hong Kong companies law.
Allen & Overy has advised dnata on the sale of a majority stake in mercator to private equity firm Warburg Pincus.
A Dacheng team has guided Shandong Yanzhou Huimin Urban Construction Investment Co through the process required for approval from the NDRC.
Conyers Dill & Pearman has advised Aircastle Ltd in connection with its $450m (£271m) unsecured revolving credit facility
The worst of both worlds? High Court gives guidance on commercial agents’ rights on termination download
The Commercial Agents (Council Directive) Regulations 1993 require that where a principal terminates an agency, in most circumstances it must make a payment to its agent.
This briefing presents three of the key consumer law developments to expect in 2014.
The OFT finds a significant imbalance of power between ICT suppliers and public sector buyers that prevents effective competition.
The State Council Decision, together with the Company Law Amendments, have been in effect since 1 March 2014.
The Court of Appeal has overturned an earlier decision and ruled that the formal requirements of a break clause must be followed precisely in order to determine a lease.
Two high-profile cases have provided further guidance for parties who wish to rely on or challenge contractual ‘liquidated damages’ clauses.
In Global Tradewaves Ltd, liquidators appointed by the BVI court to GTL obtained leave to examine a former director of GTL in relation to the company’s affairs.
Conyers Dill & Pearman has advised Sunshine 100 China Holdings on its HKD2.4bn listing on the main board of the Hong Kong Stock Exchange.
Nabarro partner Martin McKervey shares his thoughts on unlocking export growth.
Eversheds has advised property developer Urban Splash on a £135m refinancing deal and a new joint venture agreement with the Pears Group.
The changes proposed by the HSE in the new draft CDM regulations are underpinned by a desire to improve standards of health and safety, particularly on smaller construction sites.
According to an independent survey held by The Legal 500 — EMEA 2014, Ilyashev & Partners is a top-tier firm in dispute resolution and intellectual property.
We are all familiar with the idea of ‘getting it in writing’. We are referring to recording an agreed position between parties. ‘In writing’, however, is a constantly evolving legal concept.
A court has held that in certain circumstances a collateral warranty may be a ‘construction contract’ that brings with it the requirements of the Construction Act.
A recent US case could have been designed to tick as many ‘topical’ boxes as possible, ranging over the financial sector, big data and the possibly anti-competitive use of technology.
Shoosmiths has advised the sellers on the £40m sale of digital marketing agency Realise to St Ives.
Schoenherr has advised Österreichische Volksbanken-AG (OeVAG) on the sale of its fully owned subsidiary Volksbank Malta to Malta-based Mediterranean Bank.
In February 2013, the European Commission released a draft Network and Information Security Directive.
Stella Beaumont, former director of international and business development at Guardian News & Media, has joined Nabarro’s board as a non-executive director.
The range and depth of capabilities of Minter Ellison’s team across Australia has been recognised by the 2014–15 list of Best Lawyers.
Mourant Ozannes has advised Vision Knight Capital Partners on the launch of its second China private equity fund, Vision Knight Capital (China) Fund II LP.
Ince & Co partner Andrew Chan, who has advised maritime and trade clients throughout a career spanning more than 30 years, is retiring from the firm.
Hogan Lovells has advised SCOR on the VIF reinsurance of the individual life insurance business portfolio of Mediterráneo Vida, owned by Banco Sabadell.
From 2015, companies selling electronic services such as music downloads, books, apps and games will have to charge VAT on the basis of where the customer is resident.
Law à la Mode — April 2014: fashion flair transforms wearable technologies; delivering IT services in the retail sector; and more download
DLA Piper has released the April 2014 issue of its Law à la Mode publication.
Incorporation describes the process of forming a new legal entity (a company) that is recognised at law as a separate legal person.
Employment News — 14 April 2014: parental control: employees were TUPE transferred after share purchase by subsidiary download
Jackson Lloyd employed 400 people working at various sites on social-housing maintenance. When JL got into financial difficulties, its shares were bought by a subsidiary of Mears Group.
If you’re thinking about re-organising your group of companies and swapping the names of some of the companies in your group, it might not be as simple as you think.
The China (Shanghai) pilot free-trade zone was launched in September 2013 with the promise of significant reforms in a number of areas.
Over the last few months, several global arbitration institutions have introduced amendments to their arbitral rules.
The law of Ukraine ?1166-VII introduces some notable changes to the Ukrainian tax code and other laws.
Taxation of cloud services in Serbia download
This text analyses the tax position of foreign cloud companies providing cloud services in or from Serbia.
Rather than a single new body to take on its role, the OFT’s functions have been spread between a number of different bodies, some old and some new.
Australia’s recent conclusion of two free-trade agreements with South Korea and Japan are likely to present significant opportunities in the agricultural sector.
Landlords could be at risk of significant liability where tenants operate environmental permits on site.
Weekly Newsletter Italy: 31 March to 6 April 2014 — Jobs Act; more controls of project workers; and more download
Eversheds has released its Italy newsletter, which contains information on HR consultancy, litigation and dispute management and financial services and markets regulation.
For many businesses around the world, franchising is the most efficient, profitable path to growth. Whether you are a start-up company or a mature establishment, Dentons understands the franchise industry and its diverse legal needs.
Dentons’ global employment and labour group includes more than 200 lawyers, spread across our offices, who regularly represent management in connection with employment and benefits-related litigation, corporate and governmental investigations, executive compensation and counselling projects.
Global Insight is a digital publication bringing you news, views and analysis from DLA Piper’s global restructuring group.
The Australian government has released an exposure draft of the Competition and Consumer (Industry Codes-Franchising) Regulations 2014.
Australian businesses supplying electronic, telecoms and broadcasting services need to be aware of changes to EU VAT rules download
These changes will apply in relation to a number of e-commerce services, to the extent the services are supplied to a non-VAT registered consumer
The Treasury and the Department of Industry have released a discussion paper setting out options for implementing the proposed scheme.
Ogier has advised Intu on its acquisition of a 50 per cent interest in Merry Hill shopping centre and 100 per cent interests in Derby shopping centre and Sprucefield retail park.
NCTM has been reorganising the leadership positions for its departments, resulting in new co-ordinators for its 12 departments, with Vittorio Noseda as the overall leader.
Investment in agribusiness is about supporting Asian partner objectives, says Minter Ellison senior partner Adam Handley.
Peter Shervington of Eversheds has commented on the news that Toyota is recalling 6.4 million of its range, including 35,124 in the UK, over five separate issues.
Eversheds parter Simon Rice-Birchall has commented in anticipation of the government’s findings from its call for evidence regarding current whistleblowing laws.
Dacheng has advised Guangdong Technology Finance Group on the formation of a financial lease company, which was launched on 13 March 2014.
Allen & Overy has been awarded M&A Deal of the Year for its work on Shuanghui’s takeover of Smithfields Food at IFLR’s Americas Awards 2014.
Penningtons Manches aims to provide pensions advice across a range of issues in a straightforward and easily understandable manner.
We offer many years of experience ‘under the bonnet’ of project negotiations and strategy, enabling us to act astutely and effectively.
Penningtons Manches specialises in all aspects of intellectual property law. We give clear, practical guidance in complex and rapidly evolving areas.
The Penningtons Manches immigration team is widely regarded as a collaborative, friendly team that delivers innovative solutions and guidance to its clients.
Approachable and commercially aware, our specialists have in-depth experience of the issues faced by businesses when managing their staff.
Our corporate tax team provides full transactional support and standalone tax advice to a wide variety of business clients, based both in the UK and overseas.
We provide clear, pragmatic and practical advice to businesses large and small from around the globe on the corporate transactions and the legal issues they face.
Our specialist team provides a comprehensive range of construction law solutions across the wide spectrum of projects undertaken in the construction industry.
Penningtons Manches has substantial experience in working with clients to devise strategies to avoid possible disputes and to resolve effectively those that do occur.
Penningtons Manches drafts and negotiates commercial agreements of all types, and at all stages in the development and supply chain.
Whatever you need, we will provide sound advice and negotiate finance arrangements to meet your business requirements.
The Penningtons Manches private client team provides innovative, clear and tailored solutions.
Allen & Overy has published its Global Litigation Survey, which assesses 10 key indicators of the litigation process in 137 legal systems.
DLA Piper has announced that Ashley R Altschuler will join the firm’s litigation practice as a partner in Wilmington, Delaware, with an office also in New York.
Allen & Overy has advised Saudi Electricity Company on its record-breaking $2.5bn (£1.5bn) sukuk, the largest-ever Rule 144A sukuk offering.
The High Court awarded Littlewoods Retail compound interest on sums of overpaid VAT that had originally been reimbursed to it by HMRC with simple interest.
This is an introduction to the dissertation of Marnix Holtzer. His dissertation appeared in February 2014 and was published by Kluwer.
The Department of Business, Innovation & Skills has announced that the Primary Authority Scheme will be extended to cover fire safety in England and Wales.
House Ways and Means chairman tax reform discussion draft — proposals that have impact on colleges and universities download
The building blocks for what could eventually form the base of US tax reform include dramatic proposals that will impact universities and colleges.
New Model Services Contract — New Model Contract precedent for government ICT and business process outsourcing contracts download
The Model Services Contract is intended to reflect current government priorities and recommended ways of doing business.
DLA Piper has been recognised as Law Firm of the Year by Who’s Who Legal in the Franchise, Real Estate and Sports & Entertainment categories.
Muddy employee incentive issues in a disappointing exit: nine practical tips for public company acquirers download
In mediocre pay-outs, transaction proceeds are unlikely to give a substantial return to common stockholders, yet may be sufficient to return the initial investment to preferred stockholders.
Eversheds has announced new senior office partner roles for the firm’s London, Newcastle, Nottingham and Cardiff offices. The changes will take effect as of 1 May 2014.
Further details have been released in relation to the compensation packages for homeowners and businesses close to the HS2 high-speed rail link.
A new study from Eversheds has revealed a significant increase in the number of large commercial disputes and the majority of conflicts are being resolved in court.
Data & Information E-Alerts — nuisance calls action plan; £50,000 fine for unlawful calls; simpler security classifications; and more download
Addleshaw Goddard has released the 4 April 2014 edition of its Data & Information E-Alerts publication.
Stephenson Harwood has advised Ambience Ventures on its acquisition of a stake in the national rail operator of Kenya and Uganda, RVR, from TransCentury.
According to Allen & Overy’s latest M&A Index, all the ingredients for mergers and acquisitions (M&A) activity to prosper are now in place.
M&A transactions can be complex. You need an ally who listens to your needs, and combines legal procedures with an innovative approach to close your deal quickly, efficiently and successfully.
RED Alert — spring 2014: excluding liability for misrepresentation — ‘he said/she said’ is not a good argument download
This judgment sets out a useful examination of the factors that are relevant in determining whether or not a non-reliance clause satisfies the ‘reasonableness test’.
RED Alert — spring 2014: quick tips — waving the red flag: early warning signs that tenants might be struggling download
In order to maximise their position and prospects of recovery, landlords should ensure that they are fully on top of their tenants’ rent accounts and well advised from an early stage.
RED Alert — spring 2014: take a break — Marks and Spencer plc v BNP Paribas Securities Services Trust Company (Jersey) download
The appeal of the High Court’s decision in Marks and Spencer v BNP Paribas Securities Services Trust Company (Jersey) was heard by the Court of Appeal on 25 March.
Shanxi Coking Coal Group has been granted approval for its issuance of medium-term notes and short-term financing bills from NAFMII.
When the job goes wrong — what happens if you are supplied with defective parts or materials? download
When things go wrong, it is important to be aware of the contracts and terms and conditions you have agreed in the past.
How deep do you bury the golden egg? Court of Appeal declines jurisdiction to wind up Yung Kee Holdings download
The Court of Appeal has declined jurisdiction to wind up Yung Kee Holdings, upholding the decision that the company did not have ‘sufficient connection’ with Hong Kong.
Changes to French takeover rules download
A new French law, the ‘Law to recapture the real economy’ (‘Loi visant à reconquérir l’économie réelle’ or ‘Loi Florange’), was made on 1 April 2014.
Partner and head of real estate
Partner and head of business services
Taylor Wessing previously considered the decision of the court allowing a tenant to remove even very heavy industrial items. This decision has now been overturned.
This decision is a very useful reminder of how Part 36 will be applied by the courts and how serious the consequences can be.
The Sentencing Council has published its definitive guideline for the sentencing of environmental offences.
In a recent decision, the European Commission confirmed that investors can be found liable where they exercise ‘decisive influence’ over a company and its decisions.
We advise on all aspects of property, tax, corporate, commercial and dispute resolution law for the full spectrum of real-estate transactions.
Penningtons Manches’ multi-disciplinary team advises on the full spectrum of restructuring, insolvency, bankruptcy and recovery.
The travel law team specialises in providing fast, innovative and effective solutions for travel industry clients in this complex and ever-changing area of law.
Partner — British Virgin Islands, Cape Town
Partner — British Virgin Islands, Cape Town
Partner — Cayman Islands
Partner — Cayman Islands
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Partner — Guernsey
Partner — Guernsey
Partner — Guernsey
Partner — Guernsey
Partner — Guernsey
This edition of Governance News provides a synopsis of Minter Ellison’s weekly summary of corporate law and governance developments in Australia and overseas.
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Partner — Jersey
Partner — Jersey
Partner — Jersey
The notary offices provide counsel on real-estate transactions and financings as well as on high-volume mergers and acquisitions needing notarisation under German law.
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Pensions. Retirement plans. Employee benefits and executive compensation. If you’re searching for a firm with a deep knowledge and understanding of these areas, look no further. Dentons’ lawyers are leaders in their fields.
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With global reach from offices in key technology markets around the world, including Silicon Valley, New York, Boston, Vancouver, Toronto, London, Berlin, Moscow and Beijing, Dentons offers a unique perspective on evolving industry trends and emerging market opportunities.
Partner — Guernsey
Partner — Guernsey
Partner — Guernsey
The recent Budget announced a raft of proposals, some new, some that we’ve already heard about, to try to improve access to finance, in particular for SMEs.
Spare a thought for the technology lawyer. He or she can spend hours crafting a set of website or mobile terms and conditions the size of a small novella and what happens?
We are all familiar with the radio adverts at the end of which a breathless actor speed-reads or sings the mandatory ‘legal bits’.
On 2 April 2014, the European Commission announced that it was fining the participants in a worldwide undersea cable cartel.
On 1 April 2014 HMRC took over from the OFT as the regulator of residential and commercial estate agents for the purposes of anti-money laundering.
Accountants can draw some comfort following the recent Court of Appeal decision in Mehjoo v Harben Barker.
M&A Weekly Update: when is there a duty of good faith between contracting parties; prospectuses: acceptable languages; and more download
Two cases decided last year raised concerns that the English judiciary were becoming more open to implying a duty of good faith into commercial contracts.
Employment News — 7 April 2014: High Court to the rescue. Restrictive covenant is re-written to make it work download
The applicant employer in Prophet plc v Huggett sold specialist computer software for use in the fresh-produce industry.
Parmjit Singh, head of the India business group at Eversheds, has commented following Sun Pharmaceuticals’ acquisition of Ranbaxy.
Eversheds partner Richard Lewis has commented on Sun Pharmaceuticals’ acquisition of Ranbaxy.
DLA Piper has advised Tawa, renamed Pro Global Insurance Solutions, on the reorganisation of its operations culminating in the demerger of its risk carrier business.
Allen & Overy has produced a checklist of the key steps and issues involved to help clients navigate through the process of an investigation.
In Flanagan and another v Greenbanks and Cross, the Court of Appeal provided guidance on assessing whether there had been a break in the chain of causation.
In AMEC Group v Secretary of State for Defence, the Technology and Construction Court highlighted the importance of drafting target cost clauses with precision.
English courts have been reluctant to recognise an implied duty of good faith in commercial agreements. However, three decisions have cast that understanding into some doubt.
With the nuclear reactor development at Hinkley Point in Somerset forecast to cost around £20bn, there’s a superb opportunity for growth in the UK manufacturing sector.
According to a KPMG survey, 91 per cent of leading business students expect to work in at least three to four countries during their careers.
The continuing obligations of Cayman Islands regulated funds are set out in the Companies Law and Mutual Funds Law (as amended).
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Partner (LLP) — London, Jersey
Partner (LLP) — London, Jersey
The new year has brought with it two interesting decisions from the Technology and Construction Court that provide useful guidance on parties’ rights to adjudicate.
The court has considered whether a party could be liable for a pre-contractual misrepresentation where the party to which the representation was originally made was not the ultimate contracting party.
The Italian court has ruled that apprenticeship contracts will be considered independent from the Fornero Labour Reform regulations governing Italian employment relationships.
General terms and conditions are any contractual terms that have been provided by one contracting party (user) to the other party.
Planta de Reserva Fría de Generación de Eten SA has received the Deal of the Year award in the project finance category from International Financial Law Review.
Conyers Dill & Pearman has provided Bermuda law advice to Aircastle on its $900m agreement for the purchase and leaseback of eight Boeing 777-300ER aircraft.
Conyers Dill & Pearman has provided Bermuda law advice to Aircastle on the offering of $500m aggregate principal amount of its 5.125 per cent senior notes due 2021.
Conyers Dill & Pearman was honoured for its involvement in the high-profile $55bn TNK-BP transaction at the International Financial Law Review Europe Awards 2014.
Clothingsites.co.uk is set to create more than 100 jobs after securing investment from Bridges Ventures in a deal advised by Addleshaw Goddard.
Ince & Co (including Incisive Law) has been ranked by Chambers Global 2014 in 23 legal practice areas.
Hogan Lovells has advised Actavis on its acquisition of Silom Medical Company for approximately $100m in cash.
A cross-discipline corporate and real-estate team from Gateley has advised on a deal that saw café chain Patisserie Valerie acquire the Philpotts sandwich business.
Eversheds International has opened new branch offices in Berlin, Casablanca and Tangier.
US patent reform legislation is long overdue but needs balance, according to Eversheds’ intellectual property head, Simon Crossley.
Eversheds has won the Inclusive Culture Award at the Opportunity Now Excellence in Practice Awards 2014.
Dacheng has advised on the indirect acquisition of the listed Shijiazhuang Baoshi Electronic Glass Co by Tunghsu Group.
Addleshaw Goddard has advised investment management services provider Rathbone Brothers on three transactions.
Addleshaw Goddard has been named in The Times’ Top 50 Employers for Women 2014, which lists the organisations that are leading on workplace gender equality.
A series of interviews conducted by KPMG highlights that the current IFRS model of mandatory annual impairment testing of goodwill is due for a rethink.
Hogan Lovells has provided legal support in the creation of Youth Business Spain (YBS).
Goodman Derrick has collaborated with Arts and Business to develop the 2014 Goodman Award.
Eversheds Saladžius is sponsoring the ‘Integrating Social Sciences into Legal Research’ conference organised by Vilnius University Faculty of Law.
Heisse Kursawe Eversheds, the German global arm of Eversheds, has announced the opening of a third German office in Berlin.
This briefing looks at the changes to the circumstances in which bids can be negotiated and suggest some helpful tips for making bid negotiations work.
CRAR is intended to be clearer and fairer, reducing the advantage landlords have over unsecured creditors and introducing greater protections for the tenant.
Stephenson Harwood has advised Lansen Pharmaceutical Holdings on the acquisition of the rights to sell Sicorten Plus in China from Novartis.
Wakefield Waste PFI has been shortlisted for the Best Waste/Energy/Water Project and the Best Project Team in the Partnership Awards. The team was advised by Walker Morris.
This paper explains the attractions of the Cayman Islands as a destination for managers wanting to establish offshore hedge funds.
Sam Karim from Kings Chambers was part of a recent delegation on a business mission to Brazil to promote barristers’ expertise in international dispute resolution.
Eversheds has commented on the Opportunity Now Project 28-40 Report, saying that agility is the key to retaining women in business.
When the debt relief procedure for natural persons was introduced in 2008, it was considered that it should be available only for a natural person’s non-business debts.
An English scheme for a company that has a ‘sufficiently close connection’ with the jurisdiction can be proposed, albeit recognition in Poland is at the discretion of the Polish courts.
Lehman surplus distribution download
The High Court has decided how the expected surplus assets of Lehman Brothers International Europe should be distributed between a number of creditors.
To rescind a winding-up order, the court must be satisfied that the circumstances of the case are materially different to those before the court that made the order.
A winding-up petition founded on a tax assessment, which is the subject of an appeal to the Tax Tribunal, should be dismissed or stayed pending the appeal.
Important changes to the UK’s competition law regime came into effect on 1 April 2014. This article highlights the principal changes of which businesses need to be aware.
Walker Morris has bolstered its competition team with the appointment of Shaukat Ali as a director.
At IBB Solicitors, our specialist team will help you to resolve your disputes quickly and easily — often without the need for court intervention.
At IBB Solicitors, we have an exceptional level of expertise in all aspects of information technology law.
IBB’s dedicated construction and engineering team provides cost-effective and tailored legal solutions to a wide range of clients.
At IBB, we are passionately committed to helping businesses develop a bespoke IP strategy to protect your property and build your commercial success.
Whether you’re a new start-up or an established corporation with offices based locally and/or around the world, IBB is here to assist with your business needs.
At IBB, our commercial property solicitors understand the specific challenges faced by property developers, investors, occupiers and lenders.
At IBB Solicitors, we provide expert representation for both individuals and businesses facing the challenges of criminal prosecution.
We work with our clients to help them solve problems and ensure they comply with the law and charity best practice.
IBB Solicitors gives you the reassurance that your documents are correctly authenticated and accepted as legally binding for their intended purpose.
We see ourselves as both your legal and business partner and work with you to ensure that litigation doesn’t become an unwelcome distraction from your daily operations.
At IBB Solicitors, our property dispute resolution experts can provide constructive advice to effectively resolve a dispute.
GRATA Law Firm provides legal consultancy services to companies that carry out activities in the area of telecommunications and transport.
GRATA Law Firm provides legal consultancy services to companies that carry out activities in the area of construction and infrastructure.
GRATA Law Firm’s specialists have the ability to provide an array of legal services in the field of corporate law.
Our corporate law department has been operating successfully within the GRATA structure for a long time. One of the focuses of the department is labour law.
Our firm has always had and still retains the leading position in the area of subsoil use.
Antitrust Matters — April 2014: state aid; cartel facilitators; Belgium’s Competition Authority; exercising patent rights; and more download
DLA Piper has released the second issue of its global competition and antitrust law newsletter Antitrust Matters.
The powers to construct and operate phase one of HS2 will be secured by means of a hybrid bill: the High Speed Rail (London–West Midlands) Bill.
Appleby has advised the mandated lead arrangers and financial advisers in relation to the $3bn privatisation of Chinese online gaming company Giant Interactive Group.
Appleby has appointed Caren Pegg, Keith Robinson, Andrew Jowett, Clive Langley, Camilla Neal, Steven Rees Davies, Juan Thornley and Anthony Williams.
Dr Hermann Schneeweiss LLM (Harvard) will be added to the list of attorneys at law practising in Austria on 1 April 2014.
Financial Report: SEC chair speech at SIFMA seminar; cross-border implementation; consultation on bonus clawback; and more download
DLA Piper has released the latest version (Volume 3, No.7) of The Financial Report, featuring news and analysis from across the financial sector.
The government of Montenegro has adopted four block exemption decrees, two in the sphere of vertical agreements and two applicable to horizontal agreements.
Following on from the Roma-branded Mobility Scooters case earlier this year, the OFT has announced a second decision on mobility scooters.
The new Competition and Markets Authority has taken over the roles previously performed by the OFT and the CC in relation to the UK merger control regime.
IBB partner Paul Brampton explains how the Local Democracy, Economic Development and Construction Act 2009 will make far-reaching changes to the Construction Act.
Our experts can help with customs and contract regulation issues, currency control and questions of intellectual property when importing or exporting goods.
Macfarlanes has published its Real Estate Legal Update for April 2014. It covers commercial rent arrears recovery and the law of private nuisance.
The Tax Agent Services Act 2009 has been amended, heralding significant changes to the way financial planners are regulated.
Let the break battles (re)commence download
Non-compliance with a mandatory requirement of a break clause will render it invalid. Tenant break options are a well-trodden battleground for landlords and tenants.
The tax rollercoaster download
This year commenced with contradictory new provisions in the tax field. Popovici Ni?u & Asocia?ii will briefly address only the high and the low of the ride.
GRATA Law Firm has unique and longstanding experience in successfully liaising with the relevant authorities for obtaining various licences, certificates and permits.
The UK government has announced the finalised wording of its proposed reform of UK copyright exceptions. This briefing focuses on caricature, parody and pastiche.
The UK government has announced the finalised wording of its proposed reform of UK copyright exceptions. This briefing focuses on fair dealing with quotations.
The UK government has announced the finalised wording of its proposed reform of UK copyright exceptions. This briefing focuses on personal copies for private use.
The UK government has announced the finalised wording of its proposed reform of UK copyright exceptions. This briefing focuses on contract overrides.
Taking into account your interests and the statutory requirements, our experienced lawyers are ready to assist in drafting an optimal contract and glad to accompany you in negotiating with contractors.
The announcement by the Competition and Markets Authority (formerly the Competition Commission) is the culmination of a two-year investigation into the private healthcare market.
Accountability — April 2014: when can you bring a court claim that has already been the subject of a decision by the FOS? download
According to a Court of Appeal decision, only where the claim arises out of a completely different set of facts or where the complainant has rejected the FOS decision.
The decision in Rawlinson & Hunter Trustees SA and Ors v Akers & Anr has highlighted the difficulties in establishing litigation privilege in relation to internal reports.
In the case of Mehjoo v Harben Barker, the Court of Appeal overturned the earlier decision of the High Court.
On 1 April, the Groceries Code Adjudicator issued two guidance documents relating to GSCOP: dispute escalation and arbitration.
GRATA Law Firm’s banking and finance group is a leading legal counsel in the areas of capital markets, project finance and infrastructure projects development and financial transactions
In the sphere of industry, we provide the highest-quality legal products and efficient business solutions.
GRATA is the leading independent legal consultant in the mining and natural resources sector in Central Asia.
Popovici’s Serban Patriciu will be talking at a conference about critical contractual and legal issues on arise in real-estate and construction projects.
Whether you’re restructuring, listing on a new market or making an acquisition or a disposal, we have the expertise to support you.
Our pre-eminent litigation practice in the Cayman Islands, Guernsey and Jersey advises clients on the full spectrum of contentious, semi-contentious and advisory work.
Whatever stage of the employment relationship in which you require advice, our employment, pensions and incentive team can assist you.
At Carey Olsen, our market-leading insurance team offers clients a depth of experience that sets us apart from other offshore law firms.
We advise on all fund structures including open and closed-ended, limited partnerships, unit trusts and companies in the BVI, the Cayman Islands, Guernsey and Jersey.
Carey Olsen’s listing services team is well versed in acting as sponsor and/or adviser to a significant number of issuers and investment funds’ listings on the CISE and the CSX.
Whether you’re planning an acquisition or a sale, entering into a joint venture or considering a corporate restructure our M&A lawyers can help.
Our established property team represents developers, investors and businesses in the acquisition, development, financing, sale and leasing of property in Guernsey and Jersey.
Our regulatory lawyers advise clients in financial services and other industry sectors on regulatory issues that affect their businesses in the BVI, the Cayman Islands, Guernsey and Jersey.
Whether you’re a director, a debtor, a secured or unsecured creditor or an insolvency practitioner, we offer a proven track record of working with you and your advisers.
Whether you’re a private individual or a commercial enterprise, our trust and fiduciary lawyers work with you and your advisers to establish the appropriate structure.
DLA Piper has launched its global Leadership Alliance for Women (LAW) programme in Australia this month.
Allen & Overy has won the International Law Firm of the Year award at the second annual Law Firm of the Year competition in Slovakia.
Addleshaw Goddard has advised Seven Energy International on its acquisition of the entire issued share capital of East Horizon Gas Company from Oando.
Hogan Lovells’ London pensions team has launched ‘Pensions360: the full picture’, a new, free and interactive website for corporate clients.
Outer Temple Chambers has welcomed Matthew McDonagh, who joins the firm’s health department from 23 Essex Street.
Walker Morris has advised the TEG Group, an AIM-listed green technology company, on its acquisition of a composting operation at Hillbarton, near Exeter.
The two ways for a solvent company to voluntarily dissolve is to do so by MVL or by applying to the Registrar of Companies to have the company struck off the register.
On 28 March 2014, three new EU public procurement directives were published in the Official Journal of the European Union.
In Rusal, the Administrative Court was asked to find that a decision by the London Metal Exchange to consult on a single preferred option was unfair.
A new Competition and Markets Authority: but no new dawn for the public competition law enforcement in the UK download
With a certain amount of trumpeting, the new Competition and Markets Authority came into existence on 1 April — thus merging the OFT and the Competition Commission.
Australian government announces major changes to Franchising Code and Competition and Consumer Act download
The substantial amendments in the draft code confer new rights on franchisees and increase the regulatory and compliance obligations of franchisors.
A Court of Appeal decision has provided some clarity in determining the legal status of tenants who remain in occupation once the term of a contracted-out lease expires.
DLA Piper has been recognised as a technology ‘powerhouse’ by the BTI Consulting Group in its newly published 2014 BTI Client Relationship Scorecard.
Before it disappeared into the wide blue yonder, the OFT published its merger decision in the acquisition by IP Group of Fusion IP.
Allen & Overy has advised Old Mutual on the sale of Skandia Germany and Skandia Austria, part of Old Mutual Wealth, to a Cinven and Hannover Re acquisition vehicle.
The Social Value Act represented a step-change for some public bodies that were nervous about seeking to achieve social, environmental or wider economic ends through their procurement activity.
The Commercial Court has held that a ‘follow clause’ had the effect of binding a company to a settlement agreed by Lloyd’s syndicates under a separate insurance policy.
The High Court has decided that a collateral warranty provided by a building contractor to a tenant for a building was a ‘construction contract’.
The ink is not yet dry on the new EU procurement directive, but the Cabinet Office is already talking about ‘fast-track’ implementation.
Court — ‘blessing’ of pre-packs download
If administrators can show the merits of a pre-pack sale of a company’s business, the courts are likely to give the administrators liberty to enter into the pre-pack.
Fifteen per cent higher stamp duty rate for companies buying residential properties now kicks in at £500,000 download
The chancellor’s 2014 Budget, announced on 19 March 2014, set out a number of changes and extensions to the post-2012 stamp duty land tax regime.
Corporate governance round-up — April 2014: women on boards; PIRC UK shareholder voting guidelines; and more download
Hogan Lovells has published its corporate governance round-up for April 2014.
The European Commission has published its communication to the European Council and the European Parliament on ‘Long-term financing of the European Economy’.
Women on Boards — new HR report download
The UK government supports the European Commission’s decision not to impose mandatory quotas; it favours a self-regulatory national level approach.
London’s equity capital markets will benefit from a further boost this month as the new stamp duty exemption for securities trading on growth markets comes into effect.
The revised directive harmonises the transparency requirements relating to information about issuers whose securities are admitted to trading on an EU regulated market.
New UK Merger Control Regime download
Widespread reforms to the UK’s competition law regime have come into force.
In April 2009, the States of Deliberation approved the introduction of a new form of business structure: the limited liability partnership.
This briefing provides an introduction to the factors that determine whether a Jersey insurance business transfer scheme is required.
The Obama administration has threatened to impose additional sanctions on Russia in response to the Ukraine crisis but so far has only blocked the assets of 32 individuals and one bank.
The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 come into effect from 13 June 2014.
Charles Shearman (t/a Charles Shearman Agencies) v Hunter Boot Ltd concerned a claim by a commercial agent following the termination of his agency.
Where a buyer wrongfully neglects or refuses to accept and pay for goods, the seller may bring an action for damages for non-acceptance.
Does a contract have to be signed to be valid? Should I execute the document as a deed? Walker Morris answers these questions and more.
Broadly speaking, the competition regime will continue as before with the same basic rules. However, the opportunity has been taken to reinforce the CMA’s powers.
One Essex Court’s Laurence Rabinowitz QC and Weil Gotshal & Manges have defeated HM Revenue & Customs in a billion-pound litigation for retail giant Littlewoods.
M&A Weekly Update — need for clarity when drafting conditions to completion; new regime for consumer credit authorisation; and more download
Macfarlanes has released its M&A Weekly Update for the period 21–27 March 2014.
Teckal companies pursuing ‘private’ interests, even those that are charitable, could fall outside of the exemption download
A recent AG opinion provides further guidance on how not-for-profit organisations are treated under the Teckal exemption in public procurement.
Data & Information E-Alerts — 28 March 2014: TPS laws for telemarketers; ICO’s corporate plan; and more download
Addleshaw Goddard has released the 28 March 2014 edition of its Data & Information E-Alerts publication.
What happens if you’re struggling to make ends meet? The thought of paying rent for another two, three or four years may feel like a prison sentence. So how do you escape?
There is a tendency among companies in Bulgaria to speed up marketing campaigns and neglect what should be a core part of them, namely their legal structure.
The government’s proposed changes to the tax treatment of certain members of limited liability partnerships will be implemented next month.
Over the past few years, the FTC has provided guidance regarding mobile platforms and app providers’ practices of collecting data about consumers’ locations through their mobile devices.
Hogan Lovells has announced that Allen Pegg has re-joined the firm’s Miami office as counsel in its litigation practice.
Hogan Lovells has advised the shareholders of Carcraft on its management buyout led by chief executive officer Robin Bridge for an undisclosed sum.
Eversheds has successfully appealed a High Court decision that had serious implications in relation to the scope of the duty of care owed by accountants to their clients.
Allen & Overy advised Macquarie in a complex transaction that led to Macquarie being named winner of the Acquisition of the Year Energy & Natural Resources award.
Eversheds has signed an agreement with CWA Morocco to partner in the country, establishing two new offices in Casablanca and Tangier.
NCTM has advised BNL and Unicredit in connection with an acquisition financing to Aso Siderurgica for the acquisition of Cromsteel Industries SA.
Goodman Derrick will be hosting a seminar called ‘Protecting the value in your publishing business: what could possibly go wrong?’
The key recommendation from the 2011 Davies Review was a target for FTSE100 companies of a minimum of 25 per cent female representation on boards by 2015.
Spot the difference — TUPE applied even though activities carried out in different way post transfer download
The contract that was the subject of Qlog Ltd v O’Brien related to the transportation of cardboard packaging goods on behalf of a client.
The FCC has adopted two decisions that affect compliance obligations for a wide range of organisations that make or facilitate voice calls to consumers.
DLA Piper, in conjunction with its client GE and IMMMA Advocates, has begun a teaching course at the Law School of Tanzania for the fifth consecutive year.
On 24 March, DLA Piper hosted its second Israeli Global Real Estate Conference in Tel Aviv.
Eversheds has commented on Littlewoods’ High Court victory over a VAT claim worth more than £1.2bn.
China has published a series of conforming amendments to certain existing regulations governing foreign invested entities in China.
Ian Bridge of No5 has defended a business man who found himself facing eight separate allegations of fraud on his company, which at the time was indebted to the Natwest Bank.
Mediterranean Oil & Gas successfully defended a fraud claim brought by Leni Gas & Oil against two of Mediterranean Oil & Gas’s subsidiaries.
Memery Crystal has acted for Mediterranean Oil & Gas in its successful defence of a fraud claim brought by Leni Gas & Oil.
The long-awaited procurement directives are finally here. The expected new EU procurement regime will come into force on 17 April.
Hogan Lovells has advised Macquarie Capital Securities and Standard Chartered Securities (Hong Kong) on the sale of 600 million existing shares in Tongda Group Holdings.
Law on deadlines for settlement of financial liabilities in commercial transactions — solvency crisis an ongoing issue download
The law on deadlines for settlement of financial liabilities in commercial transactions entered into force in December 2012 and became a current regulation on 31 March 2013.
KPMG has announced that member firms have received two awards from the Association of Management Consulting Firms.
Managing partner, GRATA Kazakhstan
Cloud-based document storage services have rapidly risen in number and popularity since the early days of DropBox in 2007.
The real-estate team at Gateley has advised on the proposed redevelopment for Cains Brewery Village in Liverpool.
Appleby has acted as Bermuda counsel to the Asia Broadcast Satellite group of companies in relation to its $470m secured loan financing from the Export-Import Bank of the United States.
Appleby has acted for Optics Valley Union Holding Company on its listing on the Main Board of the Hong Kong Stock Exchange on 28 March 2014.
Carey Olsen has achieved the Best Companies’ One Star Status in its 2014 annual engagement survey.
James Batham, a retail expert and partner at Eversheds, has commenting on the latest ONS retail sales figures for the UK.
Eversheds’ Italian office has advised UniCredit in relation to a financing deal for the Salcef Group, a railway and general construction contractor in Italy.
The University of Belgrade Faculty of Law will host the sixth Belgrade open pre-moot competition on 5–6 April 2014, in which No5’s Tim Jones will act as arbitrator.
Stephenson Harwood has advised Northern Rail on the negotiation and signing of its 22-month single tender award franchise agreement with the Department for Transport.
The OFCCP has issued expansive new regulations requiring government contractors to undertake greater efforts to employ veterans and individuals with disabilities.
Bermuda regards itself as one of the most highly developed and sophisticated jurisdictions in which to conduct trust business.
Hogan Lovells has advised Investindustrial Group on the disposal by Investindustrial Group and KKR of the Avincis Group to Babcock International Group.
Hogan Lovells has advised Ecuador in the negotiation of a multi-million-dollar facility agreement that was executed by JBIC and the Ministry of Finance of Ecuador.
Hogan Lovells has assisted Axway with its negotiations with Systar’s controlling shareholders for the acquisition of a block of shares representing 61 per cent of Systar’s capital.
Addleshaw Goddard has advised Mount Anvil, a London specialist residential property developer, on a £200m partnership with Ares Management.
Addleshaw Goddard will promote eight of the firm’s lawyers to partners, bringing the total of new partners appointed since the beginning of the financial year to 27.
DoE approves LNG exports to non-free-trade countries — US foreign policy may be bigger factor moving forward download
The DoE has issued an order granting approval to Jordan Cove Energy Project to export LNG to countries that do not have a free-trade agreement with the US.
Ogier has advised Avis Budget on the Jersey law aspects of its recent €200m add-on to the 2014 senior notes issuance by Jersey issuer Avis Budget Finance.
Object restrictions on the menu download
The central subject of AG Wahl’s opinion is whether the tariff arrangements of Cartes Bancaires in relation to credit cards is an agreement that restricts competition by ‘object’.
In March 2014, the European Parliament voted through, with some amendments, the previously proposed draft ’cybersecurity’ directive.
Streamline e-discovery download
Today’s corporations, law firms and government entities increasingly look to e-discovery solutions to help them respond to a legal matter, a legal hold request or an investigation.
E-discovery on your terms download
A new self-service style of IT is emerging that can help you remove the IT burden and gain an optimal mix of control, speed, simplicity and cost.
Gateley has advised technology entrepreneur Stuart Marks as he embarks on a joint enterprise with retail company John Lewis.
The £2m cost budgeting threshold for commercial cases in the UK courts has been raised to £10m, bringing a raft of civil cases under stricter budgeting measures.
Kemp Little has had success at the Lawyers World 2014 Country awards, having been chosen for an outstanding level of service.
The court has overturned a decision that a tenant, which remained in occupation of commercial premises after its lease had expired, did so on the basis of an implied annual periodic tenancy.
Section 30(1)(c) LTA 1954 — a rare case involving the refusal of a landlord to grant a renewal lease download
Horne & Meredith Properties v Cox and another involved the refusal of a landlord to grant a renewal lease because the relationship between the parties had irretrievably broken down.
CRAR — the ‘headlines’ in anticipation of the introduction of the new rules on 6 April 2014 download
This is a quick reminder that the new rules are coming into force on 6 April 2014 and what the ‘headlines’ are.
Unco-operative: Groceries Code Adjudicator has say on Co-op seeking supplier payments for failure to meet target service levels download
The Groceries Code Adjudicator has published a GSCOP clarification. This is the second clarification issued by the Groceries Code Adjudicator.
Energy, waste and renewables lawyers from Walker Morris have advised Augean on the disposal of parts of its former Waste Network division.
Finance Update — March 2014: lease guarantor released when landlord granted licence for works download
A guarantor will be released from liability if the parties to the contract that is guaranteed vary its terms if it does not confirm its obligations.
Rodney Dukes and Richard Bursby discuss the hotels market and some basic issues that borrowers and lenders in this sector typically need to address.
Performance bonds are widely used in a variety of commercial agreements from construction contracts to insolvency business sales.
Mr Justice Arnold has handed down his decision in the case of Starsight Telecast and United Video Properties v Virgin Media, Virgin Media Payments and TiVo.
Austria: breach of trust — a recent Supreme Court ruling has broad implications for stock corporations download
Austria’s breach of trust provision found its way back into the limelight recently via the criminal proceedings against the former management of LIBRO AG.
A contractor suing the government for breaching ‘good faith and fair dealing’ need not show that the conduct was ‘specifically targeted’ to reappropriate the contractor’s benefits under the subject contract.
On 1 April 2014, a new and improved criminal cartel offence will be introduced in the UK by virtue of section 47 of the Enterprise and Regulatory Reform Act 2013.
KPMG has revealed that rising domestic confidence in many developed markets is not yet translating into an increase in cross-border acquisitions.
Eversheds’ competition, EU and regulatory group was named Best Regulatory Law Firm of the Year at C5’s Women in Compliance Awards 2014.
Eversheds has advised RPW and Lucent Group on the signing of the conditional development agreement for the regeneration of the Royal Pier Waterfront in Southampton.
Two Caymanian lawyers from Appleby’s Articled Clerk Programme have been admitted to the role of attorneys-at-law of the Cayman Islands.
Eversheds has commented on the publication of the Lord Davies report into the role of women in UK boadrooms.
Danny Blum, partner and employee incentives expert at Eversheds, has commented on the potential for UK rules on executive pay to be toughened.
Eversheds has commented on the recent CBI retail figures for the UK that show slowing sales in March.
Crowdfunders: don’t be an April Fool download
The FCA has issued a policy statement confirming that many of the proposals from its original consultation paper will now be implemented with effect from 1 April 2014.
This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape.
Freedom of information download
Freedom-of-information law is set to be extended to private companies carrying out public contracts, a government minister said recently.
The executive order that creates the Fiscalía Especializada en Materia de Delitos Relacionados con Hechos de Corrupción has been published by the Mexican attorney-general.
The Confidential Relationships (Preservation) Law: the Cayman Islands’ Confidentiality Legislation download
The CRPL was enacted with a view to maintaining the confidentiality of commercial activities that take place in or in connection with the Cayman Islands.
The proper construction of a share charge meant the benefit of two unsecured shareholder loan agreements formed part of the security package created by the document.
As of 1 October 2012, transfers of majority shares in a private limited liability company have become more complicated.
Dacheng senior partner Kuang Shuangli from Beijing office’s finance practice has advised on the transactions surrounding the financial lease of nine aircraft engines.
An English court has sanctioned a scheme of arrangement under the Companies Act 2006 relating wholly to debt that was subject to a New York governing law provision.
The Cayman government has published the Directors Registration and Licensing Bill 2014, which seeks to regulate directors of certain entities established in the Cayman Islands.
Finance Update — March 2014: has the US flipped on the enforceability of liquidation protocols in swaps? download
A US court has now recognised as effective the liquidation protocol contained in an ISDA governed interest rate swap.
Walker Morris’s corporate team has advised the management of Calrec Audio on its acquisition from D&M Holdings for £14m.
Walker Morris’s corporate group has advised CPP Group on the sale of CPP Holding’s 49 per cent shareholding in Home3 Assistance to Mapfre Abraxas Software.
Taylor Wessing’s private equity group has advised Electra Partners on the acquisition of audio mixing console manufacturer Calrec from D&M Holdings.
Taylor Wessing is advising Eagle Eye Solutions Group on its proposed flotation on the AIM market of the London Stock Exchange, as well as its acquisition of 2ergo.
Top franchise cases of 2013 download
Barry Heller, John Hughes and John Dwyer are conducting a webinar reviewing 2013’s top franchise decisions. Three significant cases are summarised here.
Once considered a problem too complex and expensive to solve, information governance is experiencing a rebirth.
Serbia business shape 2014 download
Serbia greatly welcomes foreign investment, as is shown by the Law on Foreign Investments, which prescribes certain exemptions and freedom exclusively assigned to foreign investors.
Governance News — 25 March 2014: corporate law and governance developments in Australia and overseas download
The latest edition of Governance News from Minter Ellison provides a synopsis of its weekly summary of corporate law and governance developments in Australia and overseas.
Memery Crystal has acted for Gulf Keystone Petroleum in connection with its admission to the Official List and to trading on the London Stock Exchange’s Main Market.
The Court of Appeal has handed down its judgment in Mehjoo v Harben Barker. Its decision will come as a relief to tax practitioners and professional advisers.
In over-the-counter financial instruments, phrases such as ‘commercially reasonable manner’ are often employed, often at the cost of speed and certainty for the parties to the transaction.
The transfer of consumer credit regulation to the FCA — what does this mean for motor dealers? download
Most motor dealers regularly carry out activities such as introducing customers to finance companies for the purpose of entering into hire and hire purchase agreements.
Senior and managing partner
A bank does not need to take into account the interests of a contractual counterparty when exercising its discretion on a ‘commercially reasonable’ basis.
William Ballmann, chair of insolvency trade body R3 in Yorkshire and partner at Gateley, has commented on an R3 report about people in Yorkshire worried about their level of debt.
Singapore aims to promote business by enhancing corporate tax incentives: key points in one chart download
Singapore’s government has proposed enhanced incentives intended to support business transformation and upgrading, in particular for SMEs.
On 27 March 2014, Allen & Overy will co-host an event with Fenwick & West and the Silicon Valley Bank regarding the growth of Silicon Roundabout companies.
DLA Piper has advised Q2 Holdings, a provider of cloud-based virtual banking solutions, in its initial public offering valued at approximately $100m.
Conyers Dill & Pearman’s British Virgin Islands office has recently added four attorneys to its corporate and litigation practices.
Head of the telecom and technology practice
On 20 May, Allen & Overy will be holding a seminar called ‘The quest for meaning — an overview of the law of contract part I — interpretation’.
Pillsbury has launched an interdisciplinary legal team focused on unmanned aircraft systems that is led by Kenneth Quinn.
Ogier has advised Citigroup, Morgan Stanley and KKR in connection with the $1.7bn acquisition of Del Monte Foods Consumer Products.
NCTM has assisted with the the closing of the complex restructuring of Edilmonte Roma, a company owned by the Ferro family.
Nabarro has advised Cenkos Securities on the AIM IPO of XLMedia plc, which is expected to raise £41.8m and lead to a market capitalisation of £92.9m.
KPMG experts have analysed the role business partnerships through M&A, joint ventures or strategic alliances will play driving business expansion in Myanmar in 2015.
DLA Piper has advised Dulles-based SummitIG in its equity investment from ORIX Ventures and Columbia Capital.
DLA Piper has been awarded the Best International Law Firm of the Year 2013–14 (India) award at the annual LegalEra Awards.
A Shanghai-based Dacheng team led by attorney Tan Jiacai has advised Hefei Taihe Optoelectronic Technology on legal risk prevention and control.
Dacheng’s Urumqi-based team led by senior partner Yang Shuwen has been retained as standing legal counsel for Xinjiang Daily for a third consecutive year.
Dacheng has been engaged by a Spanish motorbike distributor to represent it in arbitration at the China International Economic and Trade Arbitration Commission.
An administrator who uses premises for the purpose of the administration must pay rent as an expense accruing on a daily basis.
Ukraine/Russia sanctions escalate download
Sanctions have escalated at a rapid pace as western powers responded to the crisis in Ukraine and Russian’s annexation of Crimea.
The Patient Protection and Affordable Care Act imposes significant new reporting requirements on employers providing self-insured group health coverage to their employees.
From 1 May, MOFCOM will make public on its website all decisions resulting in a finding that a company has failed to notify a merger in breach of the AML.
Conyers Dill & Pearman has advised China Metal Resources Utilization on the $90m listing of shares on the Hong Kong Stock Exchange.
Conyers Dill & Pearman has advised ADCM on the formation and certain legal documentation of a Cayman-domiciled real-estate acquisition vehicle.
We have seen an increasing number of cases where a client holds and wishes to sell or transfer shares in a Cayman Islands company that is in liquidation.
Nevada’s AG reminds retailers, wholesalers and suppliers: comply with alcohol beverage laws download
Retailers, wholesalers and suppliers of alcohol beverages in Nevada have been reminded of their legal obligation to comply with the provisions of Nevada’s alcohol beverage laws.
At a time when well-known names are disappearing from the high street as a result of retailers going into administration, the spectre of corporate insolvencies has never loomed larger.
The purpose of this brief note is to help market participants make contingency plans where the political crisis involving Ukraine results in sanctions and embargoes.
Data & Information E-Alerts: Disclosure and Barring Service error leads to unnecessary disclosure of sensitive information; and more download
Addleshaw Goddard has released the latest edition of its Data & Information E-Alerts.
‘Deoffshorisation’ of Russian economy: draft law on controlled foreign company legislation and other measures download
In this briefing, Withers sets out the key provisions of the draft law on anti-offshore measures and summary comments.
Wragge & Co’s projects team has advised on a £500m public-private-partnership (PPP) scheme to upgrade and extend the Scottish motorway network.
In this fifth edition of Adjudication Watch, Wragge & Co reviews cases involving challenges to enforcement on jurisdictional and natural justice grounds.
The Serbian political scene has seen a good deal of turbulence these past months due to all the events preceding the elections.
President Obama has signed an executive order authorising additional sanctions against persons the US has deemed to be contributing to the ongoing situation in Ukraine.
A number of separate procedures are available to various interested parties upon the insolvency of a company in Bermuda.
The ICO has reissued a code of practice on subject access requests. The code was originally published last year but has been updated and re-issued.
In his Budget, the chancellor of the exchequer has announced a number of changes that will affect the SEIS, the EIS and VCT schemes.
Austria: corruptive behaviour in public procurement procedures as a deal breaker for mergers and acquisitions transactions? download
It is a well-established and unsurprising fact that public procurement proceedings are particularly vulnerable to corruption.
Budget Summary: spring edition 2014 download
Winckworth Sherwood has released the 2014 spring edition of its Budget Summary.
As 1 April fast approaches, consumer credit licence holders will be engaged in reviewing their documents, policies and procedures.
Terry O’Regan, head of international trade at Eversheds, has commented ahead of the EU-US trade summit in Brussels on 26 March.
The amended California custody rule will come into effect on 1 April 2014.
Appleby has announced that its Hong Kong office received the Asia-Pacific Leisure Deal of the Year award at the 2013 Project Finance Awards.
NCTM has assisted Ferrari in a licensing agreement with PortAventura Entertainment that will allow the development of a theme park called Ferarri Land, in Spain.
Jersey has approximately 30 tax information exchange agreements currently in force, with more in various stages of negotiation and agreement.
The issue of piercing the corporate veil has recently come under the spotlight. However, the cases have sometimes been decided in a way that is not entirely consistent.
Additional EU and US sanctions download
There has been further escalation of EU and US sanctions resulting from the events in Ukraine, including new designations and the issuance of a new executive order (EO) on 20 March 2014.
The IASB has brought the publication of an IFRS closer to realisation. But critical decisions remain to be addressed.
MOFCOM has issued the Guideline on Overseas Intellectual Property Rights for Enterprises for trial implementation on 8 February 2014.
London’s equity capital markets will benefit from a further boost next month as the new stamp duty exemption for securities trading on growth markets comes into effect.
Pat Treacy, head of the competition practice at Bristows, has commented on the revision of the European rules governing technology licensing.
DLA Piper has advised Paylocity Holding Corporation in its initial public offering valued at approximately $100m.
Conyers Dill & Pearman has advised Stolt-Nielsen on the Bermuda law aspects of its issuance of NOK1,250m senior unsecured bonds due in 2021.
Allen & Overy has acted as Australian and international counsel to the export credit agencies and commercial lenders on the financing of the integrated Roy Hill iron ore project.
Update: joint ownership of property — a round-up of the major decisions in the wake of Jones v Kernott download
This briefing provides a brief summary of the major reported cases that have followed in the wake of Jones v Kernott.
When should we DBS check? download
John Turner, lead regulatory lawyer at Anthony Collins, considers the guidance for criminal records checks with the Disclosure and Barring Service (DBS).
Can you rely? Reliance letters download
What do you do when you need to rely upon a consultant’s report?
Oh my — the Commissioners of HM Revenue & Customs v Executors of Lord Howard of Henderskelfe (deceased) download
The Court of Appeal has confirmed that the owners of the famous painting of Omai by Sir Joshua Reynolds were exempt from CGT on its sale in 2001 for £9.4m.
Minter Ellison is advising two global investment banks on Kingsgate’s AUD59.4m institutional placement and accelerated non-renounceable entitlement offer.
A report from Eversheds, 21st Century Law Firm: Inheriting a New World, surveyed 1,800 young lawyers aged between 23 and 40 around the world.
Stephenson Harwood has advised frozen food manufacturer Findus Group on the acquisition of the retail business of Lutosa, a Belgian frozen potato brand.
There are many proponents of having complex insurance disputes resolved in London under English law.
Conyers has advised on the Cayman Islands and BVI legal aspects of the acquisition by HM MOS International of Millennium Offshore Services Superholdings.
Walker Morris will be speaking and exhibiting at the LGG Weekend School 2014 at the University of York.
DLA Piper, in partnership with East African Development Bank, has run a regional training programme in Kigali, Rwanda, for public sector lawyers and law professors.
Eversheds tax expert Ben Jones has commented on the taxation measures announced in the 2014 UK Budget.
Hong Kong is one of Asia’s earliest adopters of comprehensive data privacy regulation.
Fraud in the workplace download
Employers have always been reluctant to pursue a civil claim against former employees for losses incurred as a result of their negligence or misconduct.
Ince & Co has announced its sponsorship of BIMCO’s annual conference, entitled ‘Perspectives in Shipping 2014 — Protecting and Developing Your Business’.
A new Consumer Protection Act is currently in the process of being adopted in Croatia.
The judgment demonstrates one of the rare and exceptional circumstances in which the court may be willing to intervene to stop an adjudication.
Distress for rent will be abolished from April 2014 and replaced by a statutory procedure called Commercial Rent Arrears Recovery (CRAR).
Budget announcement — 19 March 2014: income tax and NICs, capital gains tax, employee incentives and pensions download
Employees are likely to welcome the changes to the way in which they can access their pension savings in a defined-contribution scheme.
Relief will be available for new properties completed after 1 October 2013 and before 30 September 2016 that are unoccupied for the first 18 months after completion.
As the flood waters recede the key question for those who own or occupy affected properties is who is responsible for fixing the damage?
Litigation update: High Court updates ‘reasonable endeavours’ — commercial interests vs an obligation owed download
The High Court has held that Woodside Energy and other gas suppliers in Western Australia did not breach their obligation under a gas supply agreement.
Warning — California proposes major changes for Proposition 65 warnings: take part in the process download
The California agency that implements Proposition 65 has proposed far-reaching changes to the now familiar warnings required under that statute.
Although no definite date was given for the regulations under the Charities Act 2011 enabling charitable companies to convert to a CIO, these were expected in ‘early 2014’.
Ten practices and 24 Pillsbury attorneys have been ranked among the world’s top lawyers according to the 2014 Chambers Global guide.
In a move designed to bolster the firm’s presence in Japan, Pillsbury has announced that Anthony Raven and Simon Barrett will join the firm’s finance practice in Tokyo.
Switzerland-UK Budget 2014 analysis download
Despite the usual rumours, the UK Budget was, at least in tax terms, one of the more uneventful Budgets in recent years.
Can a common law lien be exercised over an electronic database pending payment? The court has confirmed suppliers have no right to hold onto data in such circumstances.
Partners Michael Kutschera and Markus Uitz have advised Koninklijke Ahold on the acquisition of approximately 50 Spar and Interspar supermarkets in the Czech Republic.
For the first time, the court has considered service of claim forms on directors under the Companies Act 2006, section 1,140.
Commercial interest rates by default download
When a tenant is late in the payment of its rents, some landlords will not go to the trouble of calculating and charging interest while the base rate is so low.
Research has revealed that women are failing to get to boardroom positions due to lack of recognition, rather than because of taking time off to have children.
DLA Piper advised BTG Pactual as arranger and placement agent of the $132.8m project bond offering by Eten to finance a thermal cold reserve power plant in Peru.
DLA Piper has acted for PwC, which was the administrator for eight companies in the Opal Property Group.
DLA Piper has provided advice to online fashion retailer Boohoo.com on its flotation and placing of new shares on AIM.
Conyers provided Bermuda law advice to Castlelake, an institutional alternative investment firm specialising in aircraft, in connection with its $515.6m aircraft securitisation.
Allen & Overy claims it has completed a clean sweep of all overall legal adviser awards possible, in addition to topping the major league tables in 2013.
Eversheds has advised Finnish media group Alma Media on its sale of news agency Baltic News Service to Uudisvoog OÜ, a subsidiary of Koha Capital.
In TruePosition Inc v LM Ericsson et al, it is claimed that member companies of 3GPP and the SSO colluded to exclude TruePosition’s technology from the 4G standard.
DLA Piper has advised Vodafone Holdings Europe SLU on its acquisition of Grupo Corporativo Ono SA for €7.2bn on a debt- and cash-free basis.
Zhai Jian and Ma Lang, criminal defence attorneys from Dacheng, have successfully defended a client accused of embezzlement of bills of exchange.
Under the guidance of Dacheng, Fujian Makeng Mining has been granted approval from NAFMII for its planned issuance of short-term financing bonds.
Beijing Huinong Capital Management has signed an agreement with Dacheng to engage senior partners Zhu Zhongyou and Liu Yang from the finance practice as legal advisers.
Dacheng has advised Quanzhou Hanwei Machinery Manufacturing and Fujian Lishu Pulp & Paper on the issuance of SME private placement bonds.
Dacheng has advised the Institute of Advanced Technology at the University of Science and Technology of China on the successful launch of the Saike Fund.
Taylor Wessing has advised Cahill Energy on its historic agreement with the Barbados government to build and operate a waste-to-energy plant on the island.
The European Parliament has voted the draft regulation and draft directive updating the principles enshrined in the 1995 Data Protection Directive.
The Birmingham office of Gateley has advised West Ham United on the sale of its Boleyn Ground Football Stadium to Galliard Group, a London developer.
Ogier has advised online fashion retailer Boohoo.com on its corporate reorganisation and subsequent successful AIM listing.
Contracts that do not state their duration or explain how to deal with their termination can be terminated by one or both of the contractual parties giving reasonable notice.
The law has established a party’s right to claim privilege over certain documents to keep them out of legal proceedings.
The Court of Appeal has found a director personally liable for the legal costs of an action brought against his company.
There has been quite a bit of talk about new regulation of industrial and provident societies (IPSs), but what is actually happening and is much really changing?
Dacheng senior partner Jiang Rongqing has advised relevant parties on PRC law, Indonesian law and British law respectively.
Eversheds partner Richard New has commented on potential announcements to be made on business rates in the 2014 UK Budget.
From 6 April 2014, industrial and provident societies will be able to enter administration or make a voluntary arrangement with creditors.
In Re Parmeko Holdings Ltd, the court had to consider whether to give directions to administrators where creditors had failed to vote on their proposals.
Mills & Reeve has appointed Richard Santy, the former head of employment at Shoosmiths in Birmingham, as a partner.
The intersection of provisions of labour, criminal, company and commercial law, although hard to imagine due to the diversity of these fields, does exist.
The PRC government has been rolling out a series of company registration reforms in an attempt to set up a more transparent and efficient registration regime.
M&A Weekly Update: guidance for corporate audit committees and prospectus directive forthcoming changes download
The M&A Weekly Update is a short one-page update on key developments relevant to M&A lawyers.
NCTM has announced the internal promotion of four professionals who have excelled in their various areas of the law in the last few years.
Austria: abolishment of GmbH ‘light’ download
The amendments to Austria’s federal tax law were published on 28 February 2014 and came into force on 1 March 2014.
Hogan Lovells’ global dispute resolution practice has been promoted to Band 1 in Chambers Global 2014.
Taking security over patents download
Without being able to offer suitable security, a business may find it difficult to borrow, or at least the terms of secured borrowing will be more favourable than those of unsecured borrowing.
This article explains how to handle issues of trade and business secret protection from an employment law perspective in Germany.
An employee share option plan reserves and allocates a percentage of the shares of the company for share option grants to current and future employees.
Sometimes there is a prohibition on the payment of any dividend, which may be for a limited period of time.
Investors will want to protect the value of their shares from dilution in the event the company issues new shares. This article examines the formulas they use to achieve this.
Where venture capital investors hold a preferred class of shares and it is permitted to convert these to ordinary shares, they generally require the right to convert them at any time.
Explaining investment terms: exit download
Simon Walker looks at under what circumstances an investor may be qualified to leave the company.
The liquidation preference is a right that can be required by venture capital investors in recognition of the risk they bear on their capital contribution.
The right of redemption is the right to demand under certain conditions that the company buys back its own shares from its investors at a fixed price.
Edward Cooper and Jill Carey discuss how businesses can avoid certain pitfalls when renewing a commercial lease.
The proposed Exploration Development Incentive is intended to provide an incentive for investment in junior mineral exploration companies.
Pillsbury has announced that Alan B Kalin has joined the firm’s corporate and securities — technology practice in the Silicon Valley office.
Stephenson Harwood has secured judgment in favour of the state-owned Nigerian National Petroleum Corporation (NNPC) after a 10-year dispute in London with IPCO.
Ian McEwan and Jill Carey provide a summary of the issues that should be taken into account by a company when planning an exit strategy.
Appleby has appointed Anne Freeman as a senior associate (solicitor, England and Wales) in its corporate and commercial team.
The Canadian government has ratified a tax information exchange agreement with the British Virgin Islands (BVI).
Mikhail Ilyashev of Ilyashev & Partners is set to speak at the X Annual Legal Forum, ‘Development of the legal services market in Ukraine — 2014’.
Withers has been recognised as a leading law firm in the recently published edition of Chambers Global.
Schoenherr practice areas in Austria and across CEE attained eight rankings in the top tier (Band 1) awarded by Chambers and Partners.
Michael Conroy-Harris, a construction expert at Eversheds, has commented on the recent rise in construction output due to house building.
Wragge & Co has been appointed to advise Birmingham City Council on the sale of the NEC Group, which owns venues including the NEC, the ICC and the NIA.
DLA Piper has advised Coupons.com on its initial public offering on the New York Stock Exchange.
Conyers Dill & Pearman’s BVI office has been ranked in Band 1 in both the corporate and finance and dispute resolution categories in Chambers Global 2014.
Conyers Dill & Pearman has again been recognised as a Band 1 offshore firm in Chambers Global, one of the world’s foremost guides to the legal profession.
The Manchester office of Addleshaw Goddard has advised Zeus Capital in its role as nominated adviser and broker to the IPO of Boohoo.com on AIM.
Compared with other topics that relate more to specific industries (for example investment access), the topic of forex control liberalisation is of a more generic nature.
DLA Piper has released Issue 15 of its Real Estate Gazette, which focuses on the topic of sustainability.
Franchise systems have been, and continue to be, sought-after investment and acquisition targets.
The Canada-BVI tax information exchange agreement (TIEA) came into force on 11 March 2014. The TIEA was signed in May 2013.
The Home Office is currently conducting a consultation on the relaxation of licensing hours during this year’s FIFA World Cup from 13 March to 26 March 2014.
Dacheng has won two China Business Law Journal awards in technology, media and communications and private equity and venture capital.
Conyers Dill & Pearman has advised Foster Wheeler on its agreement to acquire MDM Engineering Group.
Eversheds has advised Brady, a provider of precision-engineered components, on the sale of its Asian and European Die-Cut business to Boyd Corporation.
Hogan Lovells has announced that corporate partner Jan de Snaijer is to take on the role of office managing partner of the firm’s Amsterdam office.
Modern company, partnership, trust, and other related laws have made Bermuda a leading offshore financial centre for the formation of private equity vehicles.
Financial institutions in Bermuda will soon be obliged to provide information to foreign tax authorities relating to the financial affairs of US and UK resident clients.
Terminating long-term distribution agreements; the court’s approach to injunctions to prevent termination download
The termination of a long-term distributor or licensing agreement is a serious step for any distributer or supplier.
DLA Piper has released the winter 2014 issue of SHE Matters, a newsletter dedicated to safety, health and the environment.
Connecticut may join a number of states that currently require merchants to provide the remaining cash balances on gift cards to consumers upon request.
New rules will apply to most businesses selling to consumers in the EU, including to those selling online from outside the EU, from no later than 13 June 2014.
One of the recent MIPIM highlights for me was a panel discussion focused on how HS2 will deliver economic growth to northern cities.
Romania: new perspective on dawn raids and leniency following criminal legislation amendments download
The entry into force in Romania on 1 February 2014 of the new criminal codes implementing laws brought important changes to certain non-criminal laws.
Directors should be aware of various shareholder rights of action where shareholders do not agree with directors’ decisions.
To improve protection of consumers and regulate the booming online shopping activities in China, SAIC has updated existing rules regulating e-commerce activities.
Directors take care: new guidelines to help interpret two of the Companies Act statutory duties of directors download
We now have recent guidelines to help interpret two of the Companies Act statutory duties of directors.
English law on oral contracts has remained essentially unchanged for hundreds of years. Oral contracts most certainly exist, and they are certainly enforceable.
Food and beverage news and trends download
This regular publication by DLA Piper lawyers focuses on helping clients navigate the ever-changing business, legal and regulatory landscape.
BDK’s media and entertainment practice provides expert legal and regulatory advice of relevance to the sector, media-sensitive businesses and the public.
Our ICT practice is multidisciplinary and gathers lawyers specialised in regulatory work, competition law, IP, commercial law and data protection and privacy issues.
We accompany clients throughout the life of a real estate project, from setting up adequate SPV structures to drafting relevant transaction documentation.
BDK has extensive experience in the M&A sector in Serbia, Montenegro and Bosnia & Herzegovina, both in the context of privatisation and private transactions.
BDK is a market leader in the field of energy and natural resources, having advised on the most prominent transactions in the region in various contexts.
We have experience in a wide range of disputes, spanning from investment and commercial contracts to specific niches such as product liability or insolvency claw-back litigation.
We advise on the most appropriate corporate forms for establishing a presence in local jurisdictions, as well as on more complex issues.
PRC Company Law amendment download
Amendments to the PRC Company Law eliminate the minimum capital requirements and ease statutory procedures for company establishment.
Nabarro partner Martin McKervey discusses the public/private funding of Sheffield’s planned new retail quarter.
Karanovic & Nikolic hosted more than 50 participants at the annual Corporate Counsel Forum, which was held in Belgrade on 7 March 2014.
The UK government supports the European Commission’s decision not to impose mandatory quotas; it favours a self-regulatory national level approach.
Equality between men and women was firmly addressed in Spain by a 2007 act on the effective equality between men and women.
The percentage of women on company boards in the Netherlands has increased. However, women are still under-represented in company boards.
Equal opportunities between men and women is a hot topic. Italy is trying to make a step forward, starting in the boardroom.
The proportion of women on supervisory boards of the 160 companies listed in the German stock exchange currently amounts to only 17.4 per cent.
France has adopted a law compelling French companies to aim for a balanced representation of men and women on boards.
The European Parliament has voted to adopt the European Commission’s proposed directive to increase the number of women on the boards of listed companies.
Hogan Lovells has advised long-standing client Shaftesbury on the placing of 25,250,000 new ordinary shares, announced on 6 March 2014.
Eversheds has advised Personal Group, a provider of employee benefits packages, on its acquisition of Let’s Connect IT Solutions for a total consideration of up to £12m.
DLA Piper has advised St James’s Place Property Unit Trust on the acquisition of Lister Road industrial estate from Store Property for £13.25m.
Damages for non-acceptance of goods not covered by exclusion clause covering ‘loss of profits’ download
Where parties to a contract wish to exclude claims for damages under s50 Sale of Goods Act 1979, said contract must contain clear and specific wording to that effect.
A recent court decision has demonstrated that if a party can establish that information is truly confidential, then it is likely to benefit from wide protection.
Dacheng has advised Tengine (Beijing) Monitoring Instruments Company on its successful launch on the National Equities Exchange and Quotations.
Conyers Dill & Pearman has advised the underwriters on the initial public offering of Lenta, a Russian hypermarket chain.
Collyer Bristow has announced its 2013 client survey results. Each year, the firm conducts a survey to get feedback on the service it provides to its commercial and private clients.
Collyer Bristow is hosting an interactive seminar, based on a real-life case study, on how best to deal with threats to your business from former employees.
Allen & Overy has advised Deutsche Bank, Crédit Agricole Corporate and Investment Bank and Société Générale as mandated lead arrangers on two murabaha facilities for Mobily.
Agency for Financial, IT and Intermediary Services from Sarajevo fined for abuse of dominance download
The Competition Council of Bosnia and Herzegovina has fined the Agency for Financial, IT and Intermediary Services for abuse of dominant position in the relevant market.
With the World Cup only three months away, employers need to consider the impact that a four-week international football event may have on the workplace.
The Bosnian Competition Council has issued a decision finding that IKO Balkan abused its dominant position on the relevant market in Bosnia and Herzegovina.
Nabarro is investing in the growth of its dispute resolution team with the lateral hire of Lee Gluyas, a partner with a specialist focus on complex IT disputes.
Shoosmiths has advised the sellers on the £40m sale of digital marketing agency Realise to St Ives, a UK provider of marketing solutions and publishing services.
DLA Piper has advised Oakley Capital Private Equity and its fund OCPE II Master LP on the acquisition of a majority stake in NTG.
Move towards a Chinese FATCA? Enhanced reporting requirements for PRC residents on foreign assets and transactions download
The PRC State Council has released the revised reporting requirements for ‘PRC residents’ in relation to their cross-border receipts and payments.
Eversheds has appointed pensions lawyer Steven Hull as a partner in its London headquarters.
A consistent message is that there is a rapidly approaching ‘data capacity crunch’.
Finance lawyers at Walker Morris have advised waste specialist company Augean on its £15m refinancing.
Cosmetics manufacturer Lush has successfully claimed against the online retailer Amazon for trademark infringement.
In Jack Wills v House of Fraser (Stores), the issue was whether House of Fraser’s use of a pigeon logo on clothing infringed Jack Wills’ registered trademark.
The costs decision in Bocacina Ltd v Boca Cafes Ltd followed the trial judgment in which the claimant succeeded in a passing-off action against a café business.
Winckworth Sherwood has created a dedicated tax team following the appointment of tax partner Simon Newsham.
In Fage UK v Chobani UK Ltd, the claimant, FAGE, was a Greek manufacturer of yoghurt and its UK distributor.
In December 2013, the Serbian Commission for Protection of Competition conditionally approved the takeover of Mercator by Agrokor.
Allen & Overy has updated its Access Assist iPad app: a free Q&A tool supported by targeted summaries of applicable law, legislation, case law and guidance.
DLA Piper has appointed aerospace insurance lawyer Vanessa Leigh as a legal director in its aviation practice.
Parmjit Singh, head of the food and drink group at Eversheds, has commented on news that the world’s two biggest banana producers are to merge.
Hogan Lovells has advised long-standing client Hawksford International on the acquisition of Janus Corporate Solutions, a Singapore-based corporate services business.
Hogan Lovells has advised senior managers of grocery store chain Albertsons in its $9bn acquisition of Safeway.
Praveen Goyal has joined Hogan Lovells’ government regulatory practice as counsel. Goyal will be based in the Washington DC office.
Minter Ellison is one of five international law firms named as winners of a China Business Law 2013 award for energy, projects and infrastructure.
Minter Ellison’s Paul Kallenbach has told the Australian Financial Review that many companies are not prepared for the biggest change in privacy laws in a quarter-century.
Three No5 Chambers barristers have acted for Barwood in the successful defences of section 288 challenges brought by South Northamptonshire Council.
Walker Morris has advised Welcome Financial Services on the sale of Shopacheck Financial Services to Rcapital, a London-based private investment company.
Travers Smith has been appointed to lead an independent review into allegations the Bank of England allowed fixing of the multi-trillion dollar foreign exchange (forex) market.
The Court of Appeal case of RWE Npower Renewables Ltd v J N Bentley Ltd acts as a reminder to draftsman not to place too much reliance on these clauses.
Case update — performance bonds download
A court has reinforced the position that the primary liability to pay under a performance bond is separate from the relationship between the parties to the underlying contract.
A representor has been held liable for its negligent misrepresentation to another party other than the party that was later induced to conclude the contract.
Regulating CCTV use in the UK download
With technological developments and the increase of CCTV in public places, the role of regulation and guidance will become increasingly important.
Gateley’s Manchester corporate team has advised on a recent deal that saw oncology business Incanthera acquire University of Salford spin-out Onco-NX.
Business and government agencies are readying themselves for the new privacy regime, which will take effect from 12 March 2014.
The Enterprise and Regulatory Reform Act 2013 makes significant changes to the criminal cartel offence, coming into force on 1 April 2014.
CCTV in the workplace ― France download
CCTV cameras can be installed in the French workplace for safety reasons and to prevent and investigate crime, theft or misconduct.
BIS has announced that the extension of the right to request flexible working to all employees with 26 weeks’ service will be ‘available’ from 30 June this year.
A decision by the First-Tier Tribunal Property Chamber has illustrated another complication in meeting both leaseholder consultation and EU procurement requirements.
One Essex Court’s Tony Grabiner QC and Mishcon de Reya have picked up a role on private equity magnate Guy Hands’ long running battle against Citigroup over his ill-fated acquisition of EMI.
The City of London Law Society Land Law Committee has released a protocol for discharging mortgages of commercial property.
Finance lawyers from Walker Morris have advised budget gym operator Xercise4Less on securing a £5.5m finance package from Lloyds Commercial Banking to facilitate expansion.
Walker Morris has held its third Food Leadership Dinner at the Cedar Court Hotel in York, which was attended by key figures from the UK food and drink sector.
DLA Piper has advised the shareholder of Amazing Holding on the sale of B2S Group to Q-Dance Partners, part of SFX/ID&T.
Conyers Dill & Pearman has played key roles in both of Marine Money’s Securitisation Deals of the Year.
The Law Commission is conducting a limited consultation on the first available draft clauses from its proposed Insurance Contracts Bill.
Execution of an agreement is the final stage in an often lengthy process of detailed drafting and negotiation. Getting it wrong may result in invalidity and unenforceability.
Ilyashev & Partners’ clients range from international corporations to local government bodies.
The pharmaceutical industry is one of the key business sectors for Ilyashev & Partners.
Services in labour law constitute one of the key practice areas at Ilyashev & Partners.
Ilyashev & Partners represents its clients worldwide by working closely with many leading international law firms abroad.
Ilyashev & Partners has extensive experience in corporate law.
Schoenherr’s tax practice group advises domestic and international clients on their most sophisticated and challenging tax matters.
Schoenherr’s regulatory expertise and longstanding experience is recognised as the standard bearer for regulatory-related advice.
Schoenherr’s IP practice group has long-standing experience and an outstanding reputation in trademark, design, patent, copyright and unfair competition matters.
Schoenherr’s insurance practice group advises many of Austria’s and Europe’s leading insurers on transactions in the insurance sector, as well as distribution structures, product design and all related regulatory and tax matters for life, non-life, and reinsurance business.
Schoenherr’s competition practice advises clients from across all industries in merger control, anti-trust and state-aid matters on the European and national levels throughout the firm’s comprehensive network in central and eastern Europe and its office in Brussels.
Schoenherr offers a unique combination of the know-how of a boutique insolvency firm and the comprehensive range of legal services of an international law firm. The firm’s insolvency and restructuring team covers all areas of insolvency law.
Our dispute resolution practice group has extensive experience in litigation, as well as commercial and investment arbitration.
Our employment team advises on all aspects of employment law, from the beginning through to the end of the employment relationship, for both contentious and non-contentious matters.
Our core practice is advising and representing clients on transactions and complex corporate and commercial matters.
Schoenherr has established a dedicated criminal compliance and white-collar crime team.
Ogier BVI and Bryan Cave have advised a private investor group led by Peak Hotels & Resorts Group on the acquisition of Aman Resorts.
DLA Piper has advised English Premier League football club Manchester City on its recent acquisition of A-league football club Melbourne Heart.
DLA Piper has advised Australian real-estate owner and manager Investa Property Group on its acquisition of a 50 per cent stake in Piccadilly Centre in Sydney’s CBD.
Senior partner Wu Jingjing from Dacheng’s Shanghai office was recently invited by The Boeing Company and AVIC International leasing Co to attend a signing ceremony.
Dacheng has acted as legal adviser for Shenzhen Pingan Real Estate Co on its acquisition of a logistics property project from LaSalle Investment Management Co.
Bristows partner Hazel Grant has identified the issues that pharmaceutical manufacturers might face to comply with the UK Data Privacy Act in a interview with BMI System.
The Trust Deficit: After the Crash — DLA Piper’s response to a perspective report by Populus download
The Trust Deficit: After the Crash report suggests that trust between business, politics and the media has broken down completely.
As of 1 October 2012, transfers of majority shares in a private limited liability company in Slovakia have become more complicated.
The Court of Appeal has delivered its judgment in the eagerly anticipated Game administration.
JPM Jankovic Popovic Mitic has provided full legal support to Serbian companies Imlek, Knjaz Milos, Bambi and Diary Subotica.
JPM Jankovic Popovic Mitic has announced that senior lawyer Nikola Poznanovic has been made a partner in the firm as of 1 February 2014.
DLA Piper has appointed Tony Katz and Alexander ‘Sam’ Millar as partners in the litigation and regulatory group.
DLA Piper’s debt finance team, part of the finance and projects group, closed three major deals in the week ending 2 March 2014.
DLA Piper has acted for Nord LB on the financing of Lilbourne wind farm, developed by Energiekontor.
The Hungarian government has adopted a decree introducing an electronic auction system to be applied in the course of the public sale of the assets of companies in liquidation.
The theme of this year’s International Women’s Day is ‘Inspiring Change’ — this is no more needed than in Italy, according to Lexellent.
Conyers Dill & Pearman has been named Offshore Firm of the Year at IFLR’s annual Asia Awards, which took place in Hong Kong.
Allen & Overy has hired Karan Dinamani as a partner in its London corporate group. The appointment underlines the firm’s commitment to growing its private equity practice.
Ogier in the BVI has acted for Russian hypermarket chain Lenta in its recent IPO on the main market of the London Stock Exchange and the Moscow Stock Exchange.
Companies in the federal supply chain have an opportunity to prepare for the expansion of government’s anti-human-trafficking rules download
This update highlights the salient aspects of the proposed rules and the requirements that are likely to be of most interest to contractors.
Ukraine sanctions download
Companies should assess their business operations and relationships in Ukraine.
Where administrators use leasehold premises for the benefit of the administration, they should pay the rent attributable to that period as an expense of the administration.
Tax Newsletter — Serbia: rulebooks on tax balance and tax returns for corporate taxpayers and entrepreneurs download
Karanovic & Nikolic has published the March 2014 edition of its Tax Newsletter.
The NSW Supreme Court decision in Video Ezy International Pty Ltd v Sedema Pty Ltd demonstrates that courts are prepared to take a tough line on franchisors.
Limiting the rules of representation of a company is one way to secure the company against unauthorised actions on its behalf.
Nicholas Scott discusses bilateral investment treaties and their role in protecting the interests of mining companies from detrimental actions taken by host countries.
On 25 February, the UK Information Commissioner’s Office (ICO) published its updated code of practice on conducting privacy impact assessments.
These tips will help those individuals who are new to the world of business immigration, as well as seasoned experts, as they highlight a few common issues.
The Public Services (Social Value) Act 2012 came into force at the end of January 2013 and is part of the government’s ‘Big Society’ initiative.
Private Equity Perspectives — March 2013: penalty clauses — the importance of careful drafting download
When entering into corporate and commercial contracts, it is common to structure the deal so that if there is a breach it can be compensated without having to bring court proceedings.
In the current market, private equity sponsors are increasingly looking at initial public offerings (IPOs) as a real exit option for their portfolio investments.
Steve Webb has confirmed that the government is ‘actively exploring’ if it can amend the Pension Protection Fund (PPF) legislation in regard to employer insolvency.
The NDRC is collecting relevant information in the automotive parts industry and will likely launch antitrust investigations in this sector on suspicion of price-fixing cartels.
This issue looks at some of the issues that will be prominent in the emerging financial environment and the developing products that are arising in the post recessionary global economy
If you are a tenant under a commercial lease and wish to assign your interest, underlet, charge or part with possession, then you are likely to need your landlord’s consent.
The ability of a private limited company to purchase its own shares is an extremely useful tool.
The DWP has published a report that highlights the areas it believes have a strong case for an exemption from auto-enrolment duties for certain employees.
From 6 April 2014, LLP members will be taxed as employed if less than 20 per cent of their remuneration is linked to the overall profitability of the LLP.
Avoiding multimillion-dollar liability for de facto partnership breach under Texas law — one useful tip download
After a lengthy trial, a Dallas jury has found that a de facto partnership existed between Energy Transfers Partners and Enterprise Products Partners.
InCredit March 2014 — market news: Paragon Bank launches under PRA new capital regime; and more download
According to a company press release, Paragon Bank has become the first new bank to obtain a banking licence from the PRA.
This month’s round-up of developments affecting the consumer credit industry sees the FCA announce tough rules for payday lenders and more.
DAC Beachcroft (DACB) has raided Eversheds for commercial contracts partner Ruth Connorton and a team of three fee-earners in Newcastle.
Taylor Wessing private equity partner Ed Waldron meets with Rob McCombie, investment director at CBPE Capital.
Hogan Lovells’ Ulaanbaatar office has hosted a panel discussion on breaking barriers for professional women, moderated by Solongoo Bayarsaikhan and Nominchimeg Odsuren.
James Batham, partner and real-estate expert at Eversheds, has commented on the BIS Select Committee report into business rates in the UK.
Wierzbowski Eversheds has signed an agreement to provide ongoing legal services to EDF Polska. The agreement is for three years.
Eversheds partner Audrey Williams has commented on the announcement of recommendations from Charlotte Sweeney to increase the number of women on British boards.
DLA Piper has advised Tilad, a multi-family office based in the Gulf region, on the acquisition of the BMW Logistics Centre in Niederaichbach near Munich.
DLA Piper has assisted Atlanta-based private equity firm Roark Capital Group in its equity investment in Anytime Fitness, a co-ed fitness franchise.
A team from Dacheng has been retained as standing legal counsel for Guangdong Huidong Rural Commercial Bank and Guangdong Boluo Rural Commercial Bank.
Dacheng attorney Qi Yan has advised Qinghai Jiangcang Coal Co on its SME private placement bonds issue on the stock exchange of Shenzhen.
Mourant Ozannes has announced the promotion of three litigation lawyers in the Cayman Islands to senior positions within the firm.
The BBC is to hire three legal services apprentices to join its in-house legal team in London, making it the latest organisation to throw its weight behind legal apprenticeships.
Riaz Karamali, a partner in Pillsbury’s Silicon Valley and San Francisco offices who represents emerging growth companies, answers some common questions innovators face.
Stephenson Harwood has advised Soma Oil & Gas Holdings on an equity investment of $50m from private equity investment company Winter Sky.
Stephenson Harwood has appointed Tom Platts as a partner in its corporate practice in Singapore. Platts has been based in Singapore for three years.
Companies that have uncovered potential liability for economic crimes now have the opportunity to avoid criminal prosecution by seeking a deferred prosecution agreement in the UK.
Stephenson Harwood hosted a seminar titled ‘Legal risk management: managing for success’ on 25 February 2014. Here is a summary of the panel discussion that took place.
Andrew Northage considers another case in which the FCA took enforcement action against inadequate anti-bribery procedures — even where no bribery had occurred.
The judgment of the Lord Chief Justice gives a clear indication that appeals against fines will be difficult to win.
The recent unseasonal weather has put into question organisations’ accident and incident investigation procedures and their ability to proactively assess incidents.
R v Bodycote HIP UK contains an important warning to UK organisations in relation to the impact of health and safety prosecutions against their branches abroad.
The FFI regime has imposed a duty on the HSE to recover costs for carrying out its regulatory functions against those found to be in material breach of the health and safety laws.
The importance of risk assessments — first publicity order in corporate manslaughter case and general case update download
These cases highlight one point over and over again: risk assessments. They are either not in place at all or are undertaken but not followed.
Review of HSE Temple Report download
The new edition of the Temple Report was published in January 2014 and contains helpful and interesting analysis of the functions and effectiveness of the HSE.
AAA: Game Station — fair play? download
Rent accruing during a period of administration should be treated as an expense of the administration, irrespective of the date on which it falls due for payment.
Prize promotions across the world download
This handbook is designed to equip clients with a useful tool to assist them with the management of the early development stages of a promotion.
Supplies of goods to customers fraudulently using a bank card are subject to VAT where the card provider pays for those goods download
The CJEU has ruled that a supplier must account for output VAT on payments received from third party card providers for supplies made to customers who bought goods using a fraudulent card.
Keeping track of the latest European developments, as well as domestic trends and changes, can be difficult — all the more so for multinational businesses.
NCTM has acted as legal adviser to Triboo Media, an Italian company specialising in online advertising, in its listing on AIM Italia.
Allen & Overy has been shortlisted for Antitrust/Competition Firm of the Year in the Chambers Global Awards 2014
The information that a company is required to maintain about its directors within its registers can be key, especially when relationships with a director turn sour.
Pillsbury has announced that partners Graham Tyler and Debra Erni will join the firm’s finance practice in London at the beginning of May.
The High Court has dismissed the challenge to the recently imposed fees regime in the Employment Tribunal system, brought by the trade union UNISON.
The Whistleblowing Commission was launched by Public Concern at Work to investigate how UK whistleblowing laws work and how they might be improved.
In July 2013, the EAT held that all the employees made redundant from two insolvent retail businesses were entitled to be collectively consulted, regardless of where they worked.
NCTM has acted as legal adviser to Gala in its listing on AIM Italia, the alternative capital market devoted to SMEs and managed by the Italian Stock Exchange.
Partner Nathan Cahill, senior associate Robyn Coote and consultant Elizabeth Mifsud from Minter Ellison have advised Quadrant Private Equity on the closure of its seventh fund.
Hogan Lovells has been named among the top five law firms with the strongest brand in Acritas’s annual ‘US Law Firms Brand Index 2014’.
Hogan Lovells has advised EuropaCorp on the formation of a US joint venture with Beverly Hills-based Relativity Media.
The energy sector will play a leading role in the global M&A revival, according to wide-ranging research carried out by Hogan Lovells.
Allen & Overy recently hosted a panel debate on the impact of Shanghai’s free-trade zone at Hong Kong’s China Club.
On 24 February 2014, deferred prosecution agreements legislation was finally brought into force in respect of a wide range of criminal conduct.
A business must either own or have a licence to what it uses; otherwise it could infringe someone else’s intellectual property rights.
It was announced on 29 January that the UK’s major supermarkets have agreed to report on how much food they waste each year.
Claire Sharf has joined Eversheds as a legal director in the law firm’s restructuring team. Lemi McAuley will also be joining the team as a senior associate.
Conyers Dill & Pearman has been recognised for its expertise in the Asian legal market, being named ‘Offshore Law Firm of the Year’ at the 2013 China Business Law Awards.
Conyers Dill & Pearman has advised Nomura in connection with the £237m refinancing of the group of companies owned by Camden Market Holding Corp.
This alert describes the final regulations issued by the FRB that modify the former requirements applicable to foreign banking organisations pursuant to the FRB’s Regulation K.
This article explains the key changes of the Defamation Act 2013 and the Defamation Regulations 2013 and what they might mean for parties involved in defamation claims.
In 2013, ILS products became more popular and, importantly, products which traditional P&C reinsurers started to actively engage with and underwrite.
InSure — February 2014: BIBA’s budget statement, IMD2 amendments, Insurance Contracts Bill and more download
Addleshaw Goddard has released the February 2014 edition of InSure, which centres on developments affecting the insurance industry.
The recent changes introduced in Luxembourg to its limited partnerships make it a desirable jurisdiction in which to establish alternative investment funds.
On 6 April 2014, the common law right for a landlord to seize a tenant’s goods and to sell them in order to recover outstanding rent arrears will be abolished.
Elizabeth Slattery, a partner in Hogan Lovells’ employment team, has commented on a Court of Appeal ruling confirming that post-termination victimisation is unlawful.
The EAT had to decide two main issues: had the claimant made a ‘disclosure’? Did he suffer detriment as a result of that?
Winckworth Sherwood is set to attend MIPIM 2014 on 11–14 March in France. MIPIM is described as the leading real-estate event for property professionals.
Minter Ellison’s international managing partner, Mark Green, has been elected chairman of the Australia-Mongolia Business Council.
NCTM has assisted LVMH in the establishment, as a minority shareholder, of a joint venture aimed at developing the Italian fashion brand Marco De Vincenzo.
NCTM, with the support of Rospatt Osten Pross, has assisted Ferrari in the litigation case brought before the Regional Court of Düsseldorf against the German retailer KiK.
Hogan Lovells has been presented with the Restructuring Team of the Year award at the International Finance Law Review (IFLR) Asia Awards during a ceremony in Hong Kong on 26 February.
Shoosmiths has advised LDC on its investment to support the £17.8m management buyout of GMG Property Services, a UK provider of software services to estate agents.
Finance and real-estate lawyers at Walker Morris have advised Evans Management on a funding deal worth £175m to assist with investment and acquisition opportunities.
DLA Piper has appointed Richard Hopkinson-Woolley, Laurence Rogers and Neville Wright to its real-estate team. The three partners join the firm from BLP.
Blackstone Chambers has made its third major silk hire in a year through the addition of Brick Court Chambers silk Alan Maclean QC.
HMRC has published updated guidance on the new ‘salaried member’ rules, the rules that will treat members of an LLP as employees for tax purposes in certain circumstances.
The future of cyber-security. Threats and opportunities — what in-house counsel need to know download
The ascent of the internet and computing has fuelled the importance of cyber-security, such that cyber-security has taken on a core strategic importance to business.
Eversheds associate Alison Messenger has commented following the publication of UK sentencing guidelines for environmental offences.
Khristy Spyrou and Myria Agathocleous have been unanimously voted to be partners of Pamboridis.
Walker Morris regulatory team director Ray Watson provides an overview of the Competition Commission’s working paper on the profitability of payday lending companies.
DLA Piper has advised Fosun International on its ¥210.5m investment in and strategic partnership with food and beverage chain Secret Recipe.
DLA Piper has advised a range of stakeholders on the sale of the entire issued share capital of DORC to Montagu Private Equity.
International Law at Work — February 2014: China’s interim provisions on agency workers issued download
China’s Ministry of Human Resources and Social Security has issued the Interim Provisions on Agency Workers.
International Law at Work: intranet announcement creates legally enforceable right to bonus promised for bank employees download
Making a contract with the whole world is not a legal concept that is intuitively recognised.
International Law at Work — February 2014: looking forward... legislative initiatives of the new German government download
This article sets out some of the employment-related enterprises of the Great Coalition as set out in the coalition treaty.
In this briefing, Taylor Wessing focuses on pensions in China, Germany and the UK.
On 2 July 2014, the data protection provisions of the Personal Data Protection Act 2012 will come into force.
Law at Work — February 2014: reasonableness and extent of restrictive covenants did not apply to actions as a minority shareholder download
In this case, the High Court had to consider whether non-solicitation and non-dealing restrictions for a period of six months after termination of employment were enforceable.
This decision represents a welcome return to the ‘pay for what you use’ principle and strikes a fairer balance between different creditor and expense groups.
Section 1 of the new act provides that ‘a statement is not defamatory unless its publication has caused or is likely to cause serious harm to the reputation of the claimant’.
Wragge & Co’s banking and finance team has assisted long-standing client Sanctuary Group in the securing of a £350m loan from the European Investment Bank.
Taylor Wessing has been shortlisted for the ‘Effective Legal Team’ award at the WealthBriefing European Awards 2014.
While companies own assets with millions of dollars of embedded software, few companies are maximising their property tax savings through the embedded software exemption.
Pension schemes providing benefits on a salary-related or DB basis — including ‘final salary’ pension schemes — have been in the news for several years.
In the UAE, there are two separate jurisdictions that need to be considered. This update will focus on some recent developments in both jurisdictions.
It has been more than six months since the introduction of the new fee regime into the Employment Tribunal system, which took place on 29 July 2013.
A Bermuda court has ruled that the target of an intergovernmental request for information under a TIEA may require the attorney-general to produce the terms of the request.
NCTM have advised Tamini, a manufacturer of transformers for electrical networks, on the sale of its entire share capital to Terna Plus.
It is natural that where differences arise between joint venture parties, it is to the BVI, and its successful Commercial Court, that they head to resolve their disputes.
In this two-part article, Clare Brown examines recent developments and potential risks of various social media websites, including Facebook, LinkedIn and Twitter.
Shoosmiths considers exclusion clauses in sale-of-goods contracts in light of the recent Commercial Court decision of Glencore Energy Ltd v Cirrus Oil Services.
France’s Data Protection Authority has for the first time adopted truly sweeping changes to its Single Authorization No. 004 on Whistleblowing.
An important message to all tax planners: the European Commission’s directorate-general for competition has declared war on ‘fiscal optimisation’.
The temptation not to pay and to force the claimant to choose between paying the defendant’s share or letting the arbitration grind to a halt can be a strong one.
FINRA has issued a notice on a proposed new regulatory structure for firms that limit their activities to advising companies on capital raising and corporate restructuring.
First Lady and nutrition: USDA and FDA propose sweeping food labelling and marketing regulations download
Michelle Obama and the FDA have released regulations that would make significant changes to the nutrition information found on food and dietary supplement labels.
This is a short but salutary tale from a High Court decision earlier this month, where the duration of liabilities under a lease was linked to the lease completion date.
The Technology and Construction Court recently decided that claims that had been advanced in negligent misstatement and misrepresentation could not be adjudicated.
The US Internal Revenue Service has released its Transfer Pricing Audit Roadmap, a 26-page outline of the two-year transfer pricing audit process.
Spain’s Basque Country extends participation exemption regime to capital gains on transfer of shares in Spanish companies download
Spain’s autonomous Basque Country region has extended its participation exemption regime to capital gains derived from the transfer of shares in Spanish companies
Property Update — February 2014: Re Game Station — the Court of Appeal has overturned the law on administrators paying rent download
The Court of Appeal has issued its judgment in the ‘Game’ case: Jervis & Anr v Pillar Denton Limited & Ors.
Parmjit Singh of Eversheds has praised Oxfam for its rankings of food and drink companies in terms of social and environmental policies.
A Brazilian newspaper has reported that the Internal Revenue Service is preparing regulations to require foreign web-based companies to invoice locally and pay local taxes.
Deferred prosecution agreements, the government’s newest weapon in the fight against corporate crime, have become available to prosecutors.
Tax Guide 2014–15 — South Africa download
This guide details the thresholds for a variety of taxes, both personal and business, in South Africa from 1 March 2014 onwards.
Ben Williams, a barrister at Kings Chambers, considers how companies can control the misuse of group email systems.
International Law at Work — February 2014: changes to Singapore’s Employment Act from 1 April 2014 download
The Employment Act is Singapore’s main labour law covering certain categories of employees.
The issue of what duties a lead underwriter owes to the following market when settling a claim was considered by the commercial court in the context of a ‘follow clause’.
Two years on from DLA Piper’s report The Trust Deficit: Views from the Boardroom, the firm returns to the theme and asks how companies can foster a culture of trust in a post-crash economy.
China’s merger review regulator has published criteria for a simplified merger review, the Interim Rules on Application Criteria of a Simplified Review.
A report commissioned by DLA Piper — The Trust Report: After the Crash — has found that an anti-business mood is hampering a sustainable recovery.
A dispute related to a shipbuilding contract where the bank guaranteed the payment obligations of its customer, the buyer, to the claimant seller under the contract.
Russell Bailey from No5 Chambers has succeeded in an appeal to the Employment Appeal Tribunal in the case of London Central Bus Company Ltd v Manning.
Cayman Islands Law Update: the Exempted Limited Partnership Bill and the Contracts (Rights of Third Parties) Bill download
Following extensive consultation in both the public and private sectors, the Exempted Limited Partnership Bill 2014 was gazetted on 21 February 2014.
California GCI’s coming priority products list and the DTSC Strategic Plan — what do they mean for you? download
The highly anticipated next step in California’s Green Chemistry Initiative (GCI) is the planned April 2014 release of the list of ‘priority products’.
This year’s Hospital and Leisure focuses on technology inter-operability issues within hotel franchising, as well as looking at the current economic environment.
The New York Court of Appeals, in K2 Investment Group, LLC v American Guarantee & Liability Insurance Company, has vacated its own prior decision.
A recently issued claim in the High Court could have a chilling effect on the information a campaign group can collect and use.
Royal Court clarifies limits of customary law exception in respect of time-barred breach-of-trust claims brought by incoming trustee download
Where a newly incorporated PTC recently appointed as successor trustee seeks to bring claims for breach of trust against predecessors, it will not be able to benefit from empêchement d’agir.
The Court of Appeal has ruled that rent is an administration expense, payable on a daily basis for the period during which premises are retained for the benefit of the administration.
This article considers the key competing mobile payment technologies and the legal risks, and how the adoption of these technologies may shape the payments market of tomorrow.
The Court of Appeal (Criminal Division) has given judgment on two appeal cases brought by companies contesting the level of fines each received.
The Court of Appeal has given judgment in the Gamestation case (Jervis v Pillar Denton and Others). It affects the way that rent is treated in an administration.
In San Evans Maritime v Aigaion Insurance, the court held that the defendant following underwriter was required to follow a settlement reached by lead underwriters under a follow clause.
Some of the UK’s largest landlords have overturned previous High Court cases that had allowed insolvent tenants to continue trading from their premises without paying rent.
The Migration Advisory Committee has released its much-leaked report on the Tier 1 (investor) visa route.
Employment Appeal Tribunal decision confirms no extension of civil partners’ survivor benefits download
The EAT has confirmed that the restriction of a surviving civil partner’s pension to the member’s post-4 December 2005 pensionable service is compatible with EU law.
Private rights, public wrongs: Trafford v Blackpool Borough Council — the public law control of contractual discretion download
This case is a reminder that while local authorities have the power to do ‘anything that individuals generally may do’, this does not mean they are free to make decisions as individuals might.
Landlords have won their appeal to claim unpaid rent for a period that a company is in administration and trading from a property as an expense of the administration.
The private equity team at Wragge & Co has advised Mobeus Equity Partners on a £6m investment in the management buyout of Entanet International.
This point was dealt with in Svensson and others v Retriever Sverige AB by the Court of Justice of the European Union (CJEU) on 13 February 2014.
Gateley has acted on a deal that saw Cordant Group acquire Sugarman Group. The Manchester team was led by corporate partner Charles Glaskie.
New LLP tax rules download
HMRC has published updated guidance on the new ‘salaried member’ rules — the rules that will treat members of an LLP as an employee for tax purposes in certain circumstances.
With the European Parliament adopting three new directives covering public procurement on 15 January 2014, Mills & Reeve looks at the potential implications for the third sector.
DLA Piper’s 2014 European Acquisition Finance Debt Report has revealed that the market landscape is changing dramatically.
Eversheds has advised NewRiver Retail, a UK REIT specialising in value-creating retail property investment and active asset management, on its latest £85m equity fundraising.
Allen & Overy has been recognised as the ‘Best Overall Law Firm in Islamic Finance’ for the third consecutive year at the annual Islamic Finance News Awards ceremony.
The importance of legal opinions download
This briefing explains what legal opinions are and why they can be of critical importance on a cross-border transaction.
Great news for commercial landlords download
Two recent decisions have swung the pendulum of convenience towards insolvency practitioners and away from commercial landlords.
Gateley has advised management on its recent buyout of Reader Offers, an independent cruise specialist for all the major cruise lines, from its privately held owner.
Great news for commercial landlords download
Two recent decisions have swung the pendulum of convenience towards insolvency practitioners and away from commercial landlords.
Dacheng attorneys have advised Nantong-state-owned Assets Investment Holdings on short-term financing bills and medium-term notes registration.
Dacheng attorneys have successfully represented Yunnan Qifeng Petroleum Machinery, the defendant, in an IP litigation in the Intermediate People’s Court of Kunming.
Mingyue Dun was recently elected as a 2014–2015 China subcommittee member of the Anti-Counterfeiting Committee of the International Trademark Association.
Dacheng has advised Sundiro on offshore funding and joint venture formation in relation to a project with Italy-based yacht maker Sanlonrenzo.
Dacheng attorneys have been retained as standing legal counsel by the Large Business Division of Guangzhou Local Taxation Bureau.
Collateral warranties: beware download
Is your company a party to a construction contract or to a collateral warranty? If so, what would happen if a collateral warranty was suddenly interpreted as a construction contract?
California’s Proposition 65, the Safe Drinking Water and Toxic Enforcement Act of 1986, finally has the attention of legislators and the governor’s office and is undergoing key changes.
The Second Circuit has broadened the SEC’s power to seek civil disgorgement of profits from insider trading violations, even where an individual did not personally profit.
Phillip Tunney of Eversheds has commented on the importance of protecting IP for those in the chemical industry who are involved in collaborative R&D.
Hogan Lovells has advised Mishmeret Trusts Company in its role as trustee and security agent for the high-yield issuance of $800m of senior secured notes due 2021 by B Communications.
NYAG forges new ground in scrutiny of pharmaceutical agreements with first-filer exclusivity no-challenge settlement download
NYAG has reached a settlement with two drug manufacturers regarding allegations that an agreement between the firms not to challenge each other’s eligibility for regulatory exclusivity was anti-competitive.
New US cybersecurity framework issued: in wake of cyber attacks and lawsuits, how should organisations respond? download
This alert summarises the framework’s key elements and suggests practical strategies organisations can use to assess whether and how to use the framework.
This newsletter sets out in chronological order the main tax news/amendments published in the period of 1–31 January 2014.
Decision on whether receivers and liquidators must withhold tax in absence of an assessment download
Justice Logan of the Federal Court has handed down the much anticipated decision in Australian Building Systems Pty Ltd v Commissioner of Taxation.
NCTM has advised Italian fashion house Krizia on its sale to Shenzhen Marisfrolg Fashion Co, a Chinese women’s fashion producer belonging to Zhu ChongYun.
Paul Marshall from No5 Chambers was instructed against the decision of HH Judge Pelling QC in Hone and Ors v Abbey Forwarding.
Taylor Wessing has advised Centerplate on a joint venture with International Stadia Group and the commercial agreements with Club Atlético de Madrid.
This report presents detailed results of a survey of more than 250 debt providers, advisers, sponsors and corporates active in the European acquisition finance debt market.
Paul O’Hare has won the 2014 Corporate Intl Magazine Global Award for ‘Outsourcing Lawyer of the Year’.
Employment News: TUPE revamp download
Proposed changes to the Transfer of Undertakings (Protection of Employment) Regulations (TUPE) came into force on 31 January 2014.
Kemp Little has listed several changes that employers should look out for in 2014.
Walker Morris has teamed up with Bloom to run a series of breakfast seminars to discuss the issues and opportunities surrounding the management of brands in a digital age.
DPAs may be relevant to any Jersey company that is liable to prosecution under the UK’s Bribery Act 2010.
APRA’s new regime on risk management download
The Australian Prudential Regulation Authority (APRA) recently released a package of governance measures for banks, and general and life insurance companies.
Liquidators were appointed as administrators of the companies on referral from the Mawson Group, a business advisory and restructuring firm that services distressed companies.
A contracting party not in existence when a misrepresentation was made could still rely on it.
Alison Downie, head of employment at Goodman Derrick, is set to chair the Law Society’s Survive and Thrive Law Management Roadshow.
Conyers Dill & Pearman has advised Global Container Assets 2013 on its $280m (£168m) note offering.
This guide is a summary of the law and procedures relating to limited partnerships in Guernsey.
In his state-of-the-nation address in December 2013, the Russian president stressed the need for urgent measures to ‘de-offshorise’ the economy.
Deferred prosecution agreements download
The DPA regime is a half-way house between a prosecution and non-prosecution outcome to a criminal investigation, but without any of the reputational stigma of a successful prosecution.
Irwin Mitchell real estate partner Rob Thompson will succeed Jon Vivian as head of the firm’s London real estate team on 1 May.
The Unsolicited Proposal Guideline provides a framework for the government’s assessment and implementation of infrastructure proposals that originate directly from the private sector.
New directive would require member states to provide in their national legislation for criminal sanctions related to insider dealing, market manipulation and unlawful disclosure of inside information.
Deferred prosecution agreements, the government’s newest weapon in the fight against corporate crime, become available to prosecutors from 24 February 2014.
Mexico has recently adopted amendments to the Mexican Constitution that will profoundly change all aspects of the electric power sector in Mexico.
The federal government has released the final report of the Productivity Commission’s inquiry into the National Access Regime.
Box Clever and Storm Funding decisions show scope of the regulator’s financial support direction powers download
Two recent decisions have demonstrated the latitude that the Pensions Regulator has in pursuing a case for a financial support direction.
In Hillcrest Homes v Beresford and Curbishley, the TCC decided that claims that had been advanced in negligent misstatement and misrepresentation could not be adjudicated.
‘Firms must put the interests of customers first’ warns the FCA as it hands down its largest ever retail conduct fine
Failings by insurance intermediary HomeServe have resulted in the company being fined £30.6m, the largest amount ever imposed by the Financial Conduct Authority for the retail sector.
The Court of Appeal has considered the levels of fines imposed for radioactive waste and health and safety offences committed by large companies.
Pre-contract enquiries can be time consuming and look cumbersome but replies to enquiries are an important source of information for a buyer.
Guy Ladenburg from Three Raymond Buildings (3RB) has acted as junior counsel in a case involving Stephen Davies QC.
What is your opinion? Why opinions can be of critical importance on a cross-border transaction download
Opinions are common legal documents, although their importance is often overlooked. This post explains what they are.
No5 Chambers barrister Emma Edhem has been elected to the Court of Common Council in the Ward of Castle Baynard in the City of London after a contested by-election.
Hogan Lovells has advised Qatar Insurance Company on its acquisition of Antares Holdings, a Lloyd’s specialist insurer and reinsurer.
This article looks at what prompted the Law Commission’s consultation on the fiduciary duties of investment intermediaries, what it is focused on and what might come next.
Pensions Pieces: DWP consultation on the draft Occupational Pension Schemes Regulations 2014 download
The DWP has concluded a consultation on the draft Occupational Pension Schemes (Miscellaneous Amendments) Regulations 2014, which broadly provide for three changes.
Hogan Lovells has advised Kuwait Petroleum International on the Italian Shell acquisition.
Taylor Wessing has advised Grand City Properties on its issue of €150m senior secured five-year convertible bonds convertible into new and/or existing ordinary shares.
Eversheds has advised Flybe Group, a company listed on the London Stock Exchange, on raising £150m by way of a firm placing and open offer.
Dacheng attorney Shang Jiangang has advised Zhangjiang High-tech Park Development Co on a major property transfer.
Attorneys from Dacheng’s Changsha office have advised Kingdom Auto-Control Tech (Changsha) Co on its NEEQ Listing.
A team of attorneys from Dacheng’s Wuhan office has advised Ferguson (Wuhan) Biotechnologies on its application for a listing at the NEEQ system.
Dacheng has advised two Harbin-based enterprises on their launch on the NEEQ system.
The provision of the so-called ‘moral hazard’ powers to the Pension Regulator under the Pensions Act 2004 has caused significant concerns.
Speechly Bircham is in preliminary merger talks with six-office firm Charles Russell in a move that would propel the combined outfit into the top 25 firms by turnover according to The Lawyer UK200.
The Sentencing Council recently issued useful guidelines regarding sentencing in relation to fraud, bribery and money-laundering corporate offences.
Mourant Ozannes has been announced as a winner in the China Business Law Journal’s 2013 China Business Law Awards.
For the fifth consecutive year, the IAOP has announced that Pillsbury has been included on ‘The World’s Best Outsourcing Advisors’ list.
In these video briefings, Pillbury partner Mike Sullivan takes on four key issues that entrepreneurs commonly contend with in the early days of their start-up efforts.
When things go wrong, a well-drafted exclusion clause could make all the difference. What should you be aware of when you are drafting or reviewing these clauses?
Richard Hitchcock from Outer Temple Chambers has been selected for the award of Queen’s counsel.
Shoosmiths has advised Singapore-based Freight Investor Services on the strategic sale of a majority shareholding in Cleartrade Exchange to European Energy Exchange.
DLA Piper has advised the McCambridge Group on the sale of Soreen to Gibbs Croft, part of Samworth Brothers.
Conyers Dill & Pearman has provided BVI and Cayman advice to Honworld Group on the global offering of its shares and its listing on the Hong Kong Stock Exchange.
Binder Grösswang has appointed Dr Martin Frenzel to its corporate/M&A team. He mainly advises clients in complex corporate questions and in contract and compensation law.
Conyers Dill & Pearman has provided BVI advice to Guangzhou R&F Properties on the issue of $1bn 8.50 per cent senior notes due 2019.
Conyers Dill & Pearman in Hong Kong has provided BVI and Cayman Islands advice to Miko International Holdings on the IPO of a PRC children’s clothing retailer.
Allen & Overy has advised the shareholders of Entelios on the sale of all shares to EnerNOC, a NASDAQ-listed provider of energy intelligence.
Agreement on the core rules of the second Markets in Financial Instruments Directive (MiFID II) download
The European Parliament and the European Council have reached an agreement in principle on updated rules for the market in financial instruments.
National cybersecurity framework released — has your organisation considered the implications? download
The cybersecurity framework is a risk management tool to assist companies with assessing the risk of cyber attack, protecting against attack and detecting intrusions as they occur.
The search warrant recently executed on a Virginia-based flooring wholesaler surrounded allegations that the company had illegally imported wood in violation of the Lacey Act.
DLA Piper has achieved a victory for Sabre in a putative class action brought by a passenger of Hawaiian Airlines accusing the company of sending unsolicited text messages.
This update sets out the most significant developments of the new public procurement directives.
The recently published FCA sanction against HomeServe Membership provides further insight into the regulator’s expectations of senior management.
The High Court has held that Amazon infringed Lush’s Community trademark by its purchase of the Google Adword ‘Lush’.
SEC provides expanded no-action relief from broker-dealer registration for intermediaries in private M&A transactions download
The staff of the SEC’s Division of Trading and Markets issued a no-action letter on 4 February that provides guidance on how intermediaries may effect securities transactions.
Stephenson Harwood has advised three separate companies on their recent secondary fundraisings, raising more than £60m in aggregate.
It is common for parties to commercial agreements to agree mechanisms for resolving breaches of their agreement without having to resort to legal proceedings.
Minerals Matters — winter 2014 download
This issue contains articles relating to human rights in the mining industry, data protection issues, the ability to remove squatters and the crackdown on bribery and corruption.
Capital allowances download
The way in which purchasers can claim capital allowance on an acquired property will soon be affected by new legislation coming into force from April 2014.
Fundraisings of early-stage life science companies can be complicated affairs from the point of view of actually securing the funds from investors in the first place.
John Baldwin QC has delivered a noteworthy judgment concerning the use of trademarks in keyword advertising and in the search results returned by website search tools.
Eversheds’ James Batham has said that the British Retail Consortium’s recommendations for overhauling business rates will be welcomed by retailers.
The articles of association are a contract between the company and each shareholder and between the shareholders themselves.
A life sciences company raises funds either by issuing shares or by borrowing money from individuals, venture capital bodies or lending institutions.
Taylor Wessing has acted on behalf of Lord and Lady Tanlaw and their family trusts in relation to the sale of Fandstan Electric Group to New York-listed Wabtec.
Minter Ellison has provided advice to Antofagasta, a copper company that has restructured two Australian companies via two schemes of arrangement under the Corporations Act.
A number of life sciences industry bodies have jointly published a report entitled ‘From vision to action: delivery of the strategy for UK life sciences’.
All the existing shareholders and the company should be a party to the agreement, although it may not be practical for all minority shareholders to be a party if there is a large number of them.
It is common in investments for life sciences companies for a term sheet to be put in place between the investors and the founders that sets out the key terms of the investment.
One innovative deal structure is geographical licensing. While apparently simple on the face of it, the devil is in the detail.
While a business founder may have come up with a brilliant invention, he or she may be totally unfamiliar with even the most basic corporate concepts.
Online reviews present a risk for businesses as they may engage in misleading or deceptive conduct in contravention of the Australian Consumer Law.
As a leading international offshore centre, the majority of the high-value commercial litigation that reaches the BVI Commercial Court is cross-border in nature.
Conyers has acted for the borrower, RISE, in relation to the financing of an acquisition from affiliates of GECAS of a portfolio of 26 commercial passenger aircraft.
Clyde & Co and Eversheds will advise Yum! Brands, the company behind Pizza Hut and KFC, for the first time having been appointed as part of a new eight-firm panel in the UK.
Alistair Schaff QC of 7KBW has appeared for financial services firm In Focus Asset Management in Clark v In Focus Asset Management.
DLA Piper has been named Law Firm of the Year at the 2014 Legal Business Awards, held on 13 February at the Grosvenor House Hotel in London.
Eversheds has advised consumer electronics retailer Expansys on its recommended takeover by celebrity entrepreneur and Dragons’ Den panellist Peter Jones.
Giles Salmond has said that countries such as Luxembourg are likely to lose out when EU rules on VAT on e-commerce transactions come into force in 2015.
Alan Harper explains the general rules in relation to the ownership of the main types of intellectual property.
Michael Conroy Harris, construction expert at Eversheds, has said that there is no spare capacity in the UK construction industry following the floods.
Eversheds Bitans lawyers will be providing legal advice free of charge in Latvia on 10, 11 and 14 March.
The Court of Appeal has accepted the arguments of Bank of Scotland in the first reported case to analyse the proper content of a unilateral notice registered in the charges register to a property.
Adrian Keeling QC of No5 Chambers has prosecuted in Operation Springtide, a case that saw three men convicted of fraudulent trading at Stafford Crown Court.
Taylor Wessing has been named as the winner of the Legal Technology Team of the Year at the 2014 Legal Business Awards.
Croatia: recent news highlights — Strategic Investment Act and proposed new act on maritime goods and sea harbours download
The new act on strategic investment in Croatia has achieved its goal of reducing administrative procedures and ensuring the speedy realisation of strategic projects in Croatia.
Walker Morris corporate partner Debbie Jackson has been listed as one of The Lawyer’s Hot 100 Lawyers in its annual research report.
Wragge & Co’s intellectual property (IT) team has won TMT Team of the Year at The Legal Business Awards.
FCA proposes revised test for sponsor competency and sparks debate on joint sponsor arrangements download
In its new consultation paper, the FCA proposes various changes to the sponsor competency regime and initiates discussion on joint sponsor arrangements.
Last year was an eventful year in the residential sector. In this briefing, Eversheds looks back through the top five influential and surprising cases.
In November, a US court gave a significant judgment on the scope of the US ‘fair use’ provision, holding that Google’s acts in relation to the Google Books project constitute fair use.
The Court of Justice of the European Union has delivered judgment in a seminal case on how hyperlinking and framing should be treated under copyright law in the EU.
A company’s business activities must ultimately be conducted by individuals — company directors — notwithstanding that a company has a distinct legal personality.
Companies House updates its guidance on the penalties imposed on companies that file their accounts late download
Other than in very limited circumstances, all companies, even those that are dormant or exempt from audit, are required to file accounts at Companies House each year.
Wragge & Co and Lawrence Graham (LG) have confirmed the line up of the new post-merger management board, with just two spots taken up by Lawrence Graham partners.
Insolvency set South Square has lost a senior junior barrister to Fountain Court Chambers.
At the beginning of the year, you may have been one of the many who made a new year’s resolution to eat healthily and get fit. The government has also joined in.
Stephenson Harwood has advised Incadea on the acquisition of RC Real Business Solutions and an associated placing of 11,100,000 ordinary shares.
The Insolvency Service’s most recent quarterly statistics show a 12 per cent rise in construction company compulsory liquidations.
After publishing a draft for consultation, the government has laid the Consumer Rights Bill before parliament together with explanatory notes.
The Ninth Circuit has held that state and local governments lack the power to tax permanent improvements built on non-reservation land that is held in trust by the federal government.
NCTM has expanded its practices by launching a team dedicated to the luxury and fashion industry.
Mills & Reeve has published the February edition of its Health Legal Update, which includes information on the NHS, regulatory news, patient matters and legal processes.
Mills & Reeve has advised Trinity College on its acquisition of Dunsfold Park near Cranleigh in Surrey at a total cost of just more than £50m.
Hogan Lovells has hired Andy Ferris as a partner in its Singapore international debt capital markets team. He will join the law firm on 3 March 2014.
Wierzbowski Eversheds, in conjunction with the Polish Association of Corporate Lawyers, has published a guide to key issues of competition law.
Antitrust Matters — February 2014 download
DLA Piper has published the first edition of its global competition newsletter, Antitrust Matters.
Conyers Dill & Pearman has provided legal advice to Franco-Nevada (Barbados) Corporation in relation to the $135m financing to Teranga Gold Corporation.
In this eighth edition of Offshore-i, Appleby presents its analysis of transactions data for the fourth quarter of 2013.
According to the Offshore-i report released by Appleby, quarter-by-quarter offshore deal volumes rose steadily throughout 2013.
In Barnet the Second Circuit departs from precedent and sets the stage for potential circuit split download
The Second Circuit has reversed the bankruptcy court that had granted recognition under chapter 15 to an Australian company that had not introduced any evidence of assets or operations in the US.
Allen & Overy’s human rights working group (HRWG) has published the third issue of The Business and Human Rights Review.
On 20 May 2014, Allen & Overy will host a seminar entitled ‘The quest for meaning: an overview of the law of contact — part one: interpretation’.
On 24 June 2014, Allen & Overy will host a seminar entitled ‘What do we do now: an overview of the law of contract — part two: termination and remedies’.
Hogan Lovells has continued the expansion of its Los Angeles office with the addition of healthcare litigation partner Michael Maddigan.
Hogan Lovells has achieved success for Otkritie, a Russian financial services provider that the firm advised throughout a dispute regarding multi-million-dollar fraud against it.
Allen & Overy has advised Citigroup in its capacity as co-arranger with HSH Nordbank in relation to a secured refinancing transaction of HSH Nordbank.
Members of 7KBW have featured on both sides of the dispute in Glencore Energy UK Ltd v Cirrus Oil Services Ltd  EWHC 87 (Comm).
There may be circumstances when disclosure of a party’s insurance arrangements can be ordered by the court download
A group of litigants has been granted an order for disclosure of a defendant’s insurance arrangements in respect of the defendant’s potential liability in the litigation.
DLA Piper has advised China Shipping Terminal Developments on its acquisition of approximately 24 per cent of issued shares in APM Terminals Zeebrugge.
Evershed’s head of product liability, Richard Matthews, believes Toyota’s latest recall could once again dent the firm’s reputation.
A Hogan Lovells corporate team has advised Kite Realty Group Trust on its proposed merger with Inland Diversified Real Estate Trust, Inc.
Business consulting firm BTI has named Pillsbury partners Bruce Ericson and Maria Galeno to its Client Service All-Stars list.
Taylor Wessing has been named one of eprivateclient’s Top 25 Most Admired Companies.
Information security obligations for Australian businesses under the Privacy Act: a reminder from the OAIC download
At the launch of this year’s Privacy Awareness Week, the OAIC released its new guide to information security — ‘Reasonable Steps to Protect Personal Information’.
The Cybersecurity Framework: administration and Congress move to incentivise private sector co-operation download
The White House has announced its eight preliminary incentives to encourage private sector owners and operators of critical infrastructure to adopt the final Cybersecurity Framework.
The case of Richard Gabriel v Peter Little and others has highlighted the importance of engagement letters in clarifying the scope of a professional retainer.
On 10 December 2013, HMRC published the 2014 Draft Finance Bill. The new rules will come into effect from 6 April 2014.
DLA Piper analyses some of the key commercial and regulatory developments of the past year and provides some prognostications regarding the coming year(s).
This article details what types of transactions give rise to a heightened risk of insider trading, highlights the importance of confidentiality and provides practical guidance.
The Belgian Financial Services and Markets Authority is consulting on new rules regarding the marketing of financial products to retail clients.
There has been unanimous support from the European Parliament’s Economic and Financial Affairs Committee for the agreement on the proposed CSMAD.
UK: the real risk of cyber attack download
New revelations of the cyber threat to government and business identify the risk of attack even when stopping for a cup of coffee.
This alert provides a preliminary assessment of the cybersecurity EO and observations that may be helpful in considering how new standards may affect your company.
Case update Scotland — retail park: whether tenant withholding consent to further development by landlord was reasonable download
In Aviva Investors Pensions v McDonald’s Restaurants, the judge held that a tenant of a unit in a retail park had acted reasonably in withholding consent to a proposal to develop an additional unit nearby.
Executive Branch acts out on cybersecurity: what you need to know about this groundbreaking effort download
The White House has released the National Institute of Standards and Technology Framework for Improving Critical Infrastructure Cybersecurity.
This post outlines what a fund is, who the main parties to a fund are and how the fund is formed.
EU audit reform — all change download
On 17 December 2013, the European Parliament voted to accept the European Commission’s revised proposals for audit reform.
Investigation into Mayfair Charities download
The Charity Commission last month released the findings of an investigation begun in July 2012 into concerns over Mayfair Charities’ financial accounts.
With European elections in May, the flow of new regulations from Europe is expected to slow, with the immediate focus being on fine tuning already adopted policy.
The continuing obligations of Cayman Islands regulated funds are set out in the Companies Law and Mutual Funds Law (as amended).
On 16 January 2014, the Financial Conduct Authority published its finalised guidance on supervising retail investment advice.
This section of InVest includes an update from the Financial Conduct Authority on the Retail Distribution Review post-implementation review timetable and more.
Ben Williams of Kings Chambers has advised Blackpool Borough Council in respect of an early-morning restriction order.
Dacheng attorneys have advised Shandong Jinyee Machinery on its sale of equity to CLAAS, a manufacturer of agricultural engineering equipment in Germany.
The City of London Law Society Land Law Committee has produced a protocol for discharging mortgages of commercial property.
Three years after investing in Discovery Holiday Parks, Next Capital, Allegro Funds, Macquarie Funds and management have sold the majority of the business to Sunsuper.
Mills & Reeve has assisted IVF clinic Bourne Hall on the agreement of a deal with Mobeus Equity Partners to raise a £3.5m equity investment.
Governance News — 11 February 2014 download
The fallout from controversial trades in David Jones (DJs) shares and a rejected merger proposal have escalated, with the chairman and two other directors stepping down from the DJs board.
NCTM’s latest Shipping and Transport Bulletin includes comment on the Italian law relating to the granting of financial aid to Italian stevedoring companies.
Court construes in-transit loss clause in voyage charterparty — Trafigura Beheer BV v Navigazione Montanari Spa (Valle di Cordoba)
The Commercial Court has recently considered the meaning of the expression ‘in-transit loss’ in a voyage charterparty.
Complex and costly cross-border legal disputes are projected to grow significantly in the years ahead, according to a new survey of multinational corporations.
This article explores profit and loss allocations by partnerships, the special rules for AIFMs and the disposal of assets through partnerships that lead to a tax advantage.
On 31 January 2014, the Governor’s Office of Business and Economic Development (GO-Biz) released final proposed regulations on the California Competes tax credit.
The UK Crime and Courts Act 2013 has come into effect, making DPAs available to the director of the Serious Fraud Office and the director of public prosecutions.
This note provides a brief summary of Cayman Islands Monetary Authority’s Statement of Guidance for Regulated Funds — Corporate Governance.
In the past, vessels owned by foreign shipping companies and registered under non-Greek flags but managed through companies established in Greece used to enjoy tax immunity.
Welcome to Taylor Wessing’s analysis of clean energy investment activity in the fourth quarter of 2013.
This year looks set to be one of exciting change for industrial and provident societies — not least because their name will be changing to either ‘community benefit’ or ‘co-operative’ societies.
Partner and founder
JPM provides legal services relating to patent, trademark, industrial design, copyright and trade secret protection.
JPM advises on the most significant and complex transactions in the gas and oil sector being realised in the Republic of Serbia.
The firm advises on the entire range of Serbian and EC competition law matters, including merger control and clearance.
JPM handles the most sensitive and complex cases in all kinds of commercial, competition, labour and corporate disputes.
JPM’s real-estate and construction department advises on all aspects of real estate, including legal support in significant real-estate transactions.
This remains JPM’s main area of activity with an outstanding track record and leading expertise in Serbia and the region.
NCTM has assisted La Gardenia Beauty, an Italy-based beauty and cosmetics retailer, with its restructuring following the entry of Fondo Orlando Italy into its share capital.
Hogan Lovells has announced the further expansion of its New York office with the addition of corporate partner Adam Golden.
Ben Jones, tax expert at Eversheds, said that state aid rules will be an attractive route to tackling certain tax structures.
DLA Piper has advised Laureate Education on its recent acquisition of SEEK’s remaining 80 per cent interest in THINK: Education Group and its subsidiaries.
In January 2014, a team of attorneys from Dacheng’s Nanchang office was retained by Nanchang Customs as its standing legal counsel after seeing off competition from other local firms.
Dacheng partner Liu Jiawang has been elected as vice-president of the Internet Society of Yunnan.
Attorney Zhou Liang, equity partner in Dacheng’s Guangzhou office, has been retained as an independent director of Guangdong Jiedong Rural Commercial Bank.
Conyers has provided Bermuda law advice to the initial purchasers of a private offering of $600m 6.25 per cent senior notes due 2019, issued by North Atlantic Drilling.
Stephenson Harwood has appointed Sean Angle as a corporate and projects partner in its Dubai office. He joins the law firm from DLA Piper Middle East.
Taylor Wessing has advised Delfingen Industry on the acquisition of Langendorf Textil and its subsidiary MBG Techbelt Innovation.
Allen & Overy (A&O) has advised Japanese carmaker Mitsubishi Motors on the reorganisation of its distribution activities in Germany.
King & Wood Mallesons has advised China Huarong Asset Management Co on phase one of the Huayuan 2014 CLO securitisation trust scheme.
KWM has advised Investec on the financing of Cirrus Media’s acquisition of the Medical Observer journal, ‘MyDr’ website and ‘Medical Media’ ambient information channel.
Teams from the German, UK and Hong Kong offices of Eversheds have advised shareholders on the merger of German-based Cybex and Hong Kong-listed Goodbaby.
DLA Piper has announced that James Brogan, Paul Hall, Joseph Kernen and Norman Leon have been recognised in a BTI Consulting Group report.
Most companies in England will opt to list on the London Stock Exchange (LSE). But which market to choose?
A bridge to Africa: Morocco is the place to be for companies and firms looking to gain a foothold in Africa download
Because of its undeniable political stability due to its monarchy, Morocco is uniquely positioned to play the geostrategic role of a regional power.
TUPE reform: what you need to know download
The long-trailed changes to the Transfer of Undertakings (Protection of Employment) Regulations came into force on 31 January, together with updated TUPE guidance.
An international trade fair presents an opportunity for those who choose to ride on the back of your investments and infringe your rights to launch competing products.
Anthony Collins has acted for Rooftop Housing Group and its subsidiaries in forming a VAT cost-sharing group with Festival Housing and its subsidiary Festival Property Care.
The European Market Infrastructure Regulation (EMIR) introduces new requirements to reduce the risks associated with the derivatives market and thus improve transparency.
Allen & Overy has announced the election of Nick Wall as a partner in its Tokyo corporate and M&A practice.
There is no doubt that the last decade will come into history as a period when London became a legal battleground for big business disputes emerging from Russia.
The courts’ strong support of ADR procedures such as mediation is in keeping with Lord Justice Jackson’s costs reforms.
Since the current UK government was formed in 2010, it has been keen to promote industrial and provident societies and mutuals as part of the diversity of the UK economy.
The question of whether a forfeiture clause was a penalty was at issue before the Court of Appeal recently in El Makdessi v Cavendish Square Holdings BV.
A ‘best endeavours’ obligation is the most onerous of the three levels of ‘endeavours’ obligation.
Pharmaceutical sector update download
The latter half of 2013 proved to be an interesting period for the pharmaceutical sector from a competition law perspective.
A recent case considered whether a confidentiality agreement continued to apply after the conclusion of a further related agreement that contained no express obligation of confidentiality.
For a dismissal to be fair, the employer must show that the reason for dismissal or, if more than one, the principal reason, is one of the categories of potentially fair reason under the legislation.
The long-awaited appeal judgement of Primewest (Mandurah) Pty Ltd v Ryom Pty Ltd  WASCA 28 was handed down on 5 February 2014.
DLA Piper has advised Bristow Helicopters on its acquisition of a 60 per cent interest in the privately owned Eastern Airways International.
Wragge & Co’s life sciences team has brokered a licensing agreement between AstraZeneca and a partnership of Belgian life sciences research institutes.
A number of cases have been concerned with the identification of a shadow and/or de facto director. The High Court decision in Smithton Ltd v Naggar is the latest.
DLA Piper has advised St James’s Place UK and the St James’s Place Property Unit Trust on the purchase of Richmond Riverside from a fund owned by JP Morgan.
Barrister Alex Stein from No5 Chambers has prosecuted former foundry owner Laurence Brown from Mansfield for exposing workers to lead poisoning.
Mills & Reeve has acted for existing client O&H Properties on the sale of a development site in Peterborough to Urban Self Build for the delivery of 11 custom-build houses.
A report from Kennedy Consulting Research and Advisory has cited KPMG member firms as ‘vanguard leaders’ in ‘advancing’ in the breadth and depth of HR transformation capabilities.
ACH Shoosmiths has been appointed to the legal services panel of Dumfries & Galloway Housing Partnership.
Appleby has acted as Cayman counsel for Perfect Optronics in relation to its listing on the Growth Enterprise Market of the Hong Kong Stock Exchange by way of placing.
Goodman Derrick has advised Anova Books and its chief executive Polly Powell on her acquisition of the company’s entire share capital.
Eversheds has appointed financial services lawyer Andrew Henderson as a partner in the London office.
Westburg Anstalt v Profitstar Anstalt: service out of the jurisdiction — the BVI is back in business download
As a leading international offshore centre, the majority of the high-value commercial litigation that reaches the BVI Commercial Court is cross-border in nature.
Mourant Ozannes has assisted lead adviser Clifford Chance in advising Electra Private Equity on its £180m acquisition of Ogier Fiduciary Services.
Where a counterparty was entitled to specific performance of a contract with a company prior to its entry into administration, the counterparty should still be entitled to specific performance.
Hogan Lovells has advised Héroux-Devtek on the $128m acquisition of APPH and APPH Wichita (together APPH), subsidiaries of BBA Aviation.
Allison Leopold Tilley and Jorge del Calvo of Pillsbury have been named by The Daily Journal as being among California’s top private equity lawyers and emerging companies lawyers.
Stephenson Harwood has appointed Michael Kim as a partner in the marine and international trade practice.
Last month Iranian president Hassan Rouhani attended the World Economic Forum and encouraged the international community to ‘come and visit Iran to see the investment opportunities’.
The regions might stand shoulder-to-shoulder with London on criminal justice issues but there is everything to fight for when it comes to commercial work
Giulia di Tommaso at Unilever Italy epitomises the changing face of Continental in-housers, as companies recognise the strategic value that lawyers can bring
Louise Taylor considers the privacy challenges posed by the ‘internet of things’.
Graham Hann considers the main legal (and some practical) issues with the ever-expanding ‘internet of things’.
The government has confirmed that the extension of the right to request flexible working to all employees will now not be available from 6 April.
Auto-enrolment deconstructed download
The idea behind automatic pension enrolment is simple — all UK workers should be in a good pension scheme unless they actively choose not to be.
The government has published the eagerly anticipated Model Services Contract. It replaces the OCG Model ICT Contract version 2.3.
This report provides an introduction to the range of opportunities available in UK core cities, together with representative market transactions.
Tracey Forbes has been admitted as an attorney-at-law in the Cayman Islands following the successful completion of her articles of clerkship with Mourant Ozannes.
Financial fair play for the few? download
Financial fair play (FFP) has recently been making the headlines almost as much as the action on Europe’s football pitches.
Parties to litigation need to consider the risk that their commercially confidential information may be disclosed, either to the other side or to the general public in the course of the litigation.
A cross-discipline team from Gateley has advised management on its recent buyout of cruise specialist Reader Offers.
In Gray v Smith & Others, Mr Justice Cooke determined a dispute involving conflicting proprietary claims to a rare McLaren F1 GTR Longtail.
Addleshaw Goddard has released the January 2014 edition of its Corporate News publication.
Ince & Co has announced the appointment of Hugh O’Donovan, who will join the firm’s aviation group as head of commercial aviation on 21 February 2014.
The New Companies Ordinance (NCO) will come into effect on 3 March 2014. It includes changes that affect the way documents may be executed.
French private equity and venture capital magazine Option Finance has named Wragge & Co’s Paris private equity team one of the best in France.
This briefing provides an update on the Court of Appeal judgment in BAA Ltd v HMRC  EWCA Civ 112.
Alegro Capital LLP v AllProperty Media Pte Ltd is a stark illustration of how a lack of clarity can leave both sides of a dispute hundreds of thousands of pounds out of pocket.
As part of its anti-corruption package, the EU intends to publish a report every two years on member states’ efforts to tackle corruption.
On 1 January 2014, California’s Beverly-Killea Limited Liability Company Act was superseded by the California Revised Uniform Limited Liability Company Act.
No5 Chambers has released the first edition of its Commercial & Chancery Bulletin for 2014.
Buyers of businesses are often anxious about what the sellers will do after completion of a deal.
The Chinese government has taken a big step towards liberalising the Chinese outbound investment regime.
Mourant Ozannes has announced the promotion of a number of lawyers to senior positions within the firm.
Ince & Co Singapore has represented Oro Negro in its international bond issuance, an offering of $725m notes due 2019. The transaction closed on 24 January 2014.
DLA Piper has announced that Gregory Manter has joined the firm as partner in the technology, sourcing and commercial practice
Allen & Overy partner John Terzaken will be a speaker at this year’s GCR Live third annual Antitrust Law Leaders Forum in Miami on 7 and 8 February.
Allen & Overy has advised Rexam, a global beverage can maker, on the sale of the bulk of its healthcare business to Montagu Private Equity for $805m.
Allen & Overy has advised Xe-Pian Xe-Namnoy Power Company and its sponsors in connection with the $1.02bn 410MW Xe-Pian and Xe-Namnoy cross-border hydropower project.
Public companies and large private companies that have been incorporated a number of years are likely to have accumulated a number of subsidiaries, some of which will be defunct.
The bill contains some substantial changes compared with the draft bill published for pre-legislative scrutiny in June 2013.
New rules that will apply to most businesses have been laid before parliament. These rules will apply to relevant consumer contracts entered into on or after 13 June 2014.
Governance News — 5 February 2014 download
David Jones’ announcement that it received a merger proposal from Myer last year has received considerable media coverage.
The Shipping E-Brief is a quarterly publication providing information on key legal decisions and developments in shipping and related business areas.
Tier 2 Intra-Company Transfer is a category that allows multinational companies to transfer staff to the UK to work on a long-term basis or for frequent short-term visits.
NYSE and NASDAQ post forms for listed companies to certify compliance with revised compensation committee listing standards download
Companies listed on the NYSE and NASDAQ are required to certify their compliance with some of the revised standards.
The LSE has published AIM Notice 38, which announced its consultation on proposed changes to the AIM Rules for Companies and the AIM Rules for Nominated Advisers.
A US federal judge declared on 8 January 2014 that Bazaarvoice violated Section 7 of the Clayton Act by acquiring its main rival, Powerreviews.
A number of Hogan Lovells partners have been listed as All-Stars in the 2014 BTI Client Services All-Star report.
Thomas Boyd, co-chair of DLA Piper’s regulatory and government affairs practice, submitted a statement to the US senate judiciary committee.
In July 2013, the EAT controversially held that all the employees made redundant from two insolvent retail businesses were entitled to be collectively consulted.
Eversheds has assisted Poolia in its acquisition by US-based staffing company Staffing 360 Solutions through its subsidiary Staffing 360 Solutions (UK).
Simon Jones, partner at Eversheds, has commented following findings from the BRC-Google online retail monitor that show a surge in overseas shoppers in Q4 2013.
An employer was entitled to sack an employee who was allegedly planning to steal company property, rather than waiting for the theft to actually occur.
This briefing describes the general offence/what constitutes prohibited conduct; and highlights the extent of ASIC’s recent activity in prosecuting insider trading and market misconduct offences.
Criminal competition investigation into the supply of the galvanised steel tanks for water storage download
The Office of Fair Trading has announced that criminal proceedings have been started in its latest cartel offence investigation.
Establishing a Luxembourg SOPARFI download
A SOPARFI (société de participation financière), in straightforward terms, is an ordinary, unregulated, commercial company used extensively in Luxembourg.
Pension risk — market update download
Last year was a ground-breaking year. The longevity swap market broke previous records with £8.9bn of liabilities being passed to providers.
The commercial court considers the date at which loss should be assessed where damages are sought as a result of alleged negligent financial advice.
Allen & Overy has bolstered its Spanish offering by launching an office in Barcelona — its second Spanish office — and hiring Spanish lawyer Antoni Valverde.
The great secret of power is never to will to do more than you can accomplish — the Lord Rennard matter download
The Lord Rennard debacle reads like a case study on how a large organisation or company should not handle a reputational threat.
Binder Grösswang has appointed attorneys Dr Stephan Heckenthaler and Dr Markus Uitz as partners in the firm, effective 1 February 2014.
Last year was packed with national and international pensions developments. It can be difficult for corporate multinationals to keep track of shifting landscapes.
Lawyers from Allen & Overy are to hold a seminar for clients on business opportunities in Russia and the CIS, legal protections, risks and methods for resolving disputes.
Addleshaw Goddard has released the January 2014 edition of its European Employment Law Update. This section focuses on Switzerland.
Addleshaw Goddard has released the January 2014 edition of its European Employment Law Update. This section focuses on France.
The advent of the patent box — which came into effect last April but has so far had a low profile — should prompt a re-think.
The partners of Ogier Fiduciary Services have agreed terms to complete a management buy-out of the Ogier Fiduciary Services business from the Ogier Group.
Conyers Dill & Pearman has provided BVI advice to HudBay Minerals on its $173m equity offering of 20,930,000 common shares.
DLA Piper’s Todd Toral discusses how unsettled cybersecurity laws puzzle companies on the Privacy Piracy Radio Show.
Eversheds’ Neill Blundell, partner and head of fraud at the firm, has commented on reports that the scale of corruption across the EU is said to be breathtaking.
Hogan Lovells has announced that Rachel Brandenburger is joining its antitrust, competition and economic regulation (ACER) practice as a senior adviser.
M&A Predictor — January 2014 download
KPMG’s M&A Predictor is a forward-looking tool that helps member firm clients to forecast worldwide trends in mergers and acquisitions.
Health and safety: FAQs download
Shoosmiths partner and regulatory specialist Ron Reid answers questions on health and safety received from more than 1,200 viewers.
New research from Eversheds has revealed that a new breed of young lawyer is seeking to reform the legal sector.
Taylor Wessing has advised global investor Kohlberg Kravis Roberts & Co (together with its affiliate KKR) on its strategic partnership with Hertha BSC & Co.
The market for sponsored content or ‘native advertising’ has grown phenomenally in the last 12 months.
The move towards ‘ubiquitous computing’ has led to the development of a new technology category: wearable technology.
Five top tips for happy contracting download
Gateley has released five top tips to take into account when drafting contracts.
A snapshot of 2013 deal activity would appear to confirm that a global recovery has started to gain some real traction despite recent setbacks.
Allen & Overy has announced the appointment of partner Aurélien Hamelle to the Paris dispute resolution practice.
Conyers has acted for Compañía Española de Petróleos (CEPSA) and Strategic Resources (Global) (SRG) in connection with their acquisition of Coastal Energy Company.
DLA Piper has advised the directors of Bryan G Hall Consulting Civil and Transportation Planning Engineers on their acquisition of Bryan G Hall Ltd from Bryan Hall.
The Committee of Fiscal Affairs of the OECD has released its proposed updated guidelines on transfer pricing documentation.
Hogan Lovells has recruited partner Don McGown to join its London corporate practice. He joins on 3 February 2014.
In this video, Sarah Sasse looks at some of the key principles of contracting with the government, which was recently launched by the Cabinet Office.
Another victory for the Commercial agent as English court rules that principal cannot have the best of both worlds download
Under English Law, commercial agents and principals are allowed to elect whether compensation or an indemnity will be payable upon termination of the agency relationship.
Luxembourg has entered into 68 comprehensive double tax treaties based on the OECD model tax convention on income and capital.
NCTM has represented the management of Gas Energia Pluriservizi in the acquisition of 100 per cent of outstanding shares of the company.
Since 2012, the government has been conducting an audit of EU powers, with a view to seeking their repatriation to the UK in appropriate cases.
A winding-up order was wrongly made where a creditor was described as a contingent creditor, but the underlying debt upon that the petition was based appeared to be genuinely dispute
R&R makes some of the best-known ice cream brands around and it’s growing fast, with GC Francesca Yardley keeping a cool eye on progress
The European Commission has fined four producers of flexible polyurethane foam products a total of €114m for their participation in a cartel.
An important extension to European copyright law concerns technological protection measures, in other word forms of encryption used to protect digital content.
The ICT services sector continues its trend in outperforming the software sector. Boardroom confidence in the sector continues its upward trajectory.
In the five years following the introduction of competition into retail energy markets in 1999, the number of energy suppliers fell from 15 to six.
The OFT can make such a reference if it has reasonable grounds for suspecting that competition for the supply or acquisition of goods or services is not working effectively.
The case of Siemens Hearing Instruments Ltd v Friends Life Ltd is, unsurprisingly, heading for the appeal court.
Another set of regulations has been laid before Parliament, in anticipation of the new commercial rent arrears recovery (CRAR) procedure coming into force on 6 April 2014.
The High Court held that as long as the equipment is working, there is no obligation to replace, renew or upgrade a dated system to modern standards.
This briefing dicusses two cases involving an out-of-date local plan, a revoked regional spatial strategy and the National Planning Policy Framework.
Appleby has acted as Cayman counsel for Redco Properties Group in relation to its listing on the Main Board of the Hong Kong Stock Exchange (HKSE).
Eversheds has produced a guide to the Consumer Rights Directive (CRD) that looks at how the CRD will change the laws of 15 EU countries.
Shoosmiths provides legal advice to One Stop on its move into franchising.
This inaugural report highlights the current key trends and themes in the global data centre industry and provides an outlook for the data centre market in 2014.
It is common for leases to include a covenant preventing the tenant from underletting the whole of the premises without the landlord’s prior consent.
As a lease approaches the end of its term, can a landlord push through significant capital expenditure under the service charge?
Governance News — 29 January 2014 download
Governance News from Minter Ellison summarises the top headlines in corporate governance this week.
Break clauses often include an obligation upon the tenant to have settled all arrears of rent up to the break date in order for a tenant’s option to terminate the lease to be effective.
Reasonable endeavours: an update download
Contractual obligations cannot always be absolute. For this reason you will often see obligations qualified so the performer has to use ‘reasonable’ or ‘best’ endeavours.
Addleshaw Goddard has released the latest edition of its Data & Information E-Alerts.
Attention being paid by senior management to money laundering challenges is at an all-time high, according to findings from a new KPMG International report.
Hogan Lovells’ bribery and corruption task force expects increased enforcement against executives and enforcement co-operation between countries.
Elizabeth Slattery, partner in Hogan Lovells’ employment team, has commented on the TUPE reforms.
Eversheds Bianchini has advised a pool of Italian banks led by Unicredit on a debt restructuring agreement for San Giorgio and its group of companies.
The Paris office of Eversheds is sponsoring a mentoring programme aimed at helping young women aged between 25–39 within the immigrant population.
Eversheds has commented on the recent cut in UK business rates by communities secretary Eric Pickles.
A new breed of young lawyer is seeking to reform the legal sector, according to Eversheds’ recent ‘21st Century Law Firm: Inheriting a New World’ report.
Structured trade and commodity finance is central to international trade and is progressively becoming an important source of finance for Chinese companies.
Founding and managing partner
NCTM has assisted Società Europa Tessile — a company that creates, develops, produces and sells textile products — in the acquisition of Stamperia Chiara.
NCTM Studio Legale Associato has been chosen as the winner of the ‘Prize for Innovation’ award at the Legalcommunity 2014 Energy Awards.
NCTM has launched a capital markets and financial intermediaries department under the direction of Prof Alberto Toffoletto.
Ogier has advised Infinity Cross Border Acquisition Corporation on the BVI legal aspects of its proposed business combination transaction with Glori Energy.
Hogan Lovells reviews the latest developments in the area of anti-bribery and corruption regulation and enforcement around the world.
The Treasury has released exposure drafts of amendments to the Corporations Act and Corporations Regulations to implement the government’s proposed changes to the FoFA regime.
In this note, Mills & Reeve offers some brief tips on some of the most commonly encountered problems.
On 24 February 2014, revised thresholds for the Hart-Scott-Rodino Act (HSR) will take effect.
Public services provider Amey has decided against setting up a formal panel of legal advisers in favour of an informal referral system with a set of ten preferred firms, following its merger with Enterprise in 2013.
The London Stock Exchange has published AIM notice 38, which consults on a number of proposed changes to the AIM Rules for Companies and AIM Rules for Nomads.
Ince & Co’s Shanghai consultant Dimitris Seirinakis, together with senior associate Shirley Li, has joined the British Chamber of Commerce Shanghai FTZ focus group.
The government has been consulting on proposals to enhance corporate transparency.
Crowdfunding as a way of securing investment is beginning to gain ground on both sides of the Atlantic. What are the current regulatory requirements and how is this likely to change?
On 30 November 2013, the State Council of China issued the Guiding Opinions on the Pilot Launch of Preference Shares.
From January to December 2013, the ATO/Commonwealth achieved an approximately 75 per cent success rate in tax litigation.
What are the obligations of a global custodian service provider in giving investment advice to its clients? download
In Första AP-Fonden v Bank of New York Mellon SA/NV and Others, the Commercial Court considered the advisory obligations of a global custodian service provider.
The government has been consulting on how it can reduce the administrative burden that weighs too heavily on companies. Legislation is likely to follow this year. What are the proposals?
Parties to a contract need to be confident that the directors of the company they are dealing with have authority to bind the company. What is the position where the director has no authority?
The negotiation of earn-out provisions is often one of the pinch points in the negotiation of a share purchase agreement
A recent Court of Appeal decision has lessons for both solicitors and non-executive directors on how to manage conflict situations.
Good and bad leaver provisions — a mainstay of private equity deals — don’t often find themselves in court. A High Court decision has considered their effectiveness.
Does the accidental failure to send a notice of a shareholders meeting to all the shareholders necessarily render the meeting invalid?
Changes to the TUPE regulations came into effect on 31 January 2014. What are the main implications for corporate finance?
Conyers Dill & Pearman has advised AIM-listed client PureCircle on a new revolving credit facility provided by Macquarie Bank.
Conyers Dill & Pearman has advised a consortium of financial institutions in connection with a refinancing of €800m of debt facilities granted to the Hilding Anders group.
Conyers Dill & Pearman has advised financial institutions as purchasers in connection with a €400m senior secured note offering issued by Smurfit Kappa Acquisitions.
The appeal judgment in Threlfall v ECD Insight Ltd raises the prospect that a director may be held liable for costs owed by a company.
The High Court has considered whether a party can get an injunction preventing another party from terminating a licensing agreement where this would result in the cessation of one party’s business.
Ensure your distribution agreement runs like clockwork — beware of banning exports to Switzerland download
Recent decisions by the Swiss competition authority in relation to parallel import restrictions highlight that the Swiss competition authority will not take lightly the restriction of trade into Switzerland.
Issues arising from the recent wet weather have caused growers and others in the supply chain to take a careful look at their trading terms, and in particular the ‘force majeure’ clause.
When things go wrong, a well-drafted exclusion clause could make all the difference. What should you be aware of when you are drafting or reviewing these clauses?
Following Zoopla’s decision to end its sponsorship of WBA, Shoosmiths explores how sponsors can protect themselves against the bad behaviour of their athletes.
The Public Sector Procurement Directive will make it easier for charities, social enterprises and public sector mutuals to deliver public services, according to Winckworth Sherwood.
Hogan Lovells has outlined the impact of this development on US companies and on foreign companies that are not ultimately owned or controlled by US persons/entities.
Hogan Lovells has advised EDF in relation to its 100-year bond issue in pound sterling, which enabled EDF to raise £1.35bn.
In a recent KPMG International poll, more than 75 per cent of respondents said they were involved in a tax examination or dispute with a revenue authority, with 43 per cent reporting that they feel the process takes too long and is too expensive.
King & Wood Mallesons has advised Beihai Port on its major assets restructuring to integrate Fangcheng Port, Qinzhou Port and Beihai Port into ‘One Port’.
KWM has acted for the Hong Kong Electric Co on a three-year syndicated term loan facility and a three-year syndicated term loan facility with HK Electric Investments.
‘Time thereby lost’ under the NYPE off-hire clause: Court of Appeal reinstates conventional approach
The Athena was a dispute about the meaning of the familiar NYPE off-hire clause (clause 15).
Employment News — 27 January 2014: bare necessities: implied contract between agency worker and client was not necessary download
The claimant in Smith v Carillion (JM) Ltd worked in the construction industry through an employment agency.
In the first ever FTC-litigated challenge to a hospital system’s acquisition of a physician group, the US District Court for Idaho ruled in favour of the plaintiffs.
As is widely known, the Indonesian export ban on ore came into effect on 12 January 2014.
According to KPMG, predicted forward P/E ratios, a measure of confidence or appetite, were 16 per cent higher in December 2013 than they were 12 months earlier.
As from April 2014, new legislation will take effect to change the rules for partnership taxation with a view to shutting down certain perceived abuses.
The Court of Appeal (Criminal Division) has handed down judgment on two appeal cases brought by companies contesting the level of fines each received.
European justice ministers have still not come to an agreement on the ‘one-stop-shop’ mechanism due to differing legal arguments.
The ICO fines and undertakings published in December highlight the importance of providing comprehensive data protection training to employees who handle personal data.
The Spanish Data Protection Authority has fined Google €900,000 for three separate breaches of the rights of Spanish citizens when collecting personal data.
Thirty years after China began a process of economic reform with the introduction of special economic zones, it is now launching a ground-breaking economic experiment.
Pensions issues are going to change, and while the new regime will simplify matters for outsourcing providers, that simplification may come at a cost.
New measures intended to be implemented by the FCA will have a significant impact on companies with controlling shareholders who are premium listed.
It took a while for activity to pick up on AIM last year, but there is no doubt that there has been an uptick in activity in recent months.
The investment landscape in Africa has changed dramatically in the last two decades. Not only have the demographics of the continent altered, but so has its constitution.
The final instalment of Taylor Wessing’s All-Consuming Legal Insights series focuses on advertising and features Nick Cody and Kristy Hibberd.
Aereo utilises warehouses full of tiny antennas to capture over-the-air television and then retransmits it over the internet to its subscribers’ digital devices.
Appleby has acted as Bermuda counsel for Jin Jiang Mining, a wholly owned subsidiary of Zijin Mining, in relation to its subscription of convertible bonds in NKWE Platinum.
Appleby has announced that Faye Moffett, a banking and finance practitioner, has been appointed as head of the corporate and commercial practice group in the Isle of Man.
Appleby has acted as BVI counsel to Standard Chartered Bank in relation to an HKD404m secured loan facility and an HKD384 million loan facility to Prosperity REIT.
The public procurement rules are changing, and the government is keen to implement these changes as soon as it can.
An improving economic outlook has seen activity in the construction industry steadily increasing, culminating in eight months of growth to the end of 2013.
US Bankruptcy Court defines the limits of shareholder safe harbour in failed leveraged buyouts download
A recent opinion may have implications for shareholders who receive payments in connection with a leveraged buyout when the underlying company then files for bankruptcy.
Further tranches of draft rules under the Public Governance, Performance and Accountability Act 2013 have been released for consultation by the Department of Finance.
Richard Moulton, head of private equity at Eversheds, has commented on predictions that the increase in European IPOs is set to accelerate.
Matthew Gough, partner and head of consumer law at Eversheds, has commented on the UK Consumer Rights Bill beginning its parliamentary passage.
In this article, Lucy Hughes, an associate at Walker Morris, looks at dealing with state aid when applying for research grants.
The World Trademark Review 1000 handbook for 2014 has ranked Bristows as a Gold firm.
Twelve months is a long time. It is probably overstating it to say that the profession has seen unprecedented change, but it has been both dramatic and volatile.
FCPA Update — anti-corruption compliance in 2013: post-guidance trends and signals for the future download
Debevoise & Plimption has published its FCPA Update for January 2013. The lead article concerns anti-corruption compliance in 2013.
The NYSE has updated its Section 303A written affirmation form to reflect the recent modifications to the NYSE listing standards for compensation committees of equity issuers.
The Eversheds Africa Law Institute has welcomed five new member law firms at the inaugural EALI Summit in Paris.
Conyers Dill & Pearman has advised China Conch Venture Holdings in connection with its listing on the Main Board of the Hong Kong Stock Exchange (SEHK).
Arendt & Medernach has launched The Arendter magazine. Topics covered in this first issue include tax, regulatory, international, art, training and innovation.
Conyers Dill & Pearman has provided Cayman advice to Autohome in connection with an IPO in the US of 8,993,000 Class A ordinary shares.
Conyers Dill & Pearman has provided advice to China Water Property Group in connection with the issuance of 12.5 per cent senior notes due 2016.
Conyers Dill & Pearman has provided Cayman Islands legal advice to Bitauto Holdings in connection with a secondary offering in the US of 2,749,200 ordinary shares.
The results are in — 2013 was another tough year for the Australian M&A market overall. However, we saw increased M&A activity in the second half of the year.
Appleby has acted as Cayman counsel for Magnum Entertainment Group Holdings in relation to its listing on the Hong Kong Stock Exchange (SEHK).
Hogan Lovells has announced that Bruce Oakley, a partner in the litigation practice, was recently named managing partner of the firm’s Houston office.
Taylor Wessing has acted for Arab Jordan Investment Bank on its exchange of contracts with HSBC Bank Middle East to acquire HSBC’s business and assets in Jordan.
DLA Piper has represented Groupon in its acquisition of Ideeli, a New York-based online fashion retailer, for $43m.
This article examines the impact of the Agency Workers Regulations 2010, including a recent complaint by the TUC, which may affect the food sector.
Retail bonds can present not only an attractive alternative or addition to bank finance but also a way to promote stronger links with customers and to engender greater brand loyalty.
Last year was the ‘annus horribilis’ for food, with the horsemeat contamination wiping millions off turnover and stock prices.
The SEC recently published Form SD, the disclosure form to be filed by all SEC reporting companies that are subject to the SEC’s conflict minerals rule.
Nicolas Anelka’s recent alleged anti-Semitic gesture has had significant consequences for his club. What can you do if an employee’s actions cause damage to your business?
A bipartisan group of Congressional leaders has introduced legislation to give President Obama trade promotion authority to negotiate significant trade agreements.
The Privacy and Civil Liberties Oversight Board has concluded that the National Security Agency’s bulk collection of telephone call records is illegal and should be ended.
In light of Delaware case law developments over the past year, exclusive forum provisions are being increasingly adopted by public companies.
On 21 January, the FTC announced 12 proposed settlements with companies accused of falsely claiming that they complied with the US-EU Safe Harbor Framework.
Taylor Wessing has launched its third Cambridge newsletter, providing legal news and updates for companies in Cambridge and the surrounding areas.
Concerns about information security — including cybersecurity and physical security — are increasingly permeating corporate life.
Memery Bank: Takeover Code update — important clarification on directors’ irrevocable undertakings download
The Takeover Panel has released a practice statement clarifying the application of Rule 21.2 to directors’ irrevocable undertakings.
Wragge & Co’s real-estate team has advised a consortium of developers on a major land purchase earmarked for the development of a new market town.
This article addresses the most significant resulting proposals and focuses in particular on new powers for the Competition Appeal Tribunal.
Managing the risks and costs associated with TUPE can be a real problem when making changes to supply chains.
The use of zero-hours contracts are on the rise in the food industry, both in the food service sector and in food and drink manufacturing.
M&A activity in 2013 in the food and beverage sector followed 2012 as another year of high-profile transactions, although, at least in the UK, on a reduced scale.
President Barack Obama has announced important reforms in the ways the US government will gather, store, use and retain signals-related information.
The old saw about the best-laid plans of mice and men also goes for international tax planning and transactions with significant tax consequences.
This year promises to be another in which corporate purchasing departments work hard to keep costs down while vendors try to increase their margins.
Domestic double taxation relief applicable to capital gains derived by EU resident entities on disposal of shares in Spanish entities download
The Supreme Court has stated that, under EU regulations, the denial of the deduction for non-resident entities is contrary to the principle of free movement of capitals.
NCTM has acted as legal adviser to Gruppo Green Power, an Italian company in the renewable energy sector, in its listing on AIM Italia.
Employee and executive incentives: an overview of incentive arrangements in the Middle East download
This briefing highlights the benefits of trust-based plans and illustrates the fact that plans can be tailored to meet specific employer or country requirements.
Addleshaw Goddard reports on a Commercial Court judgment in relation to two preliminary issues arising in the context of AstraZeneca Insurance Co’s claim against its excess reinsurers.
The High Court has decided that a collateral warranty provided by a building contractor to a tenant for a building was an ‘construction contract’.
This briefing highlights the benefits of trust-based share plans and shows how schemes can be tailored to meet employer or country specific requirements.
Executive share plans: guide to executive share plans to motivate a broad range of employees download
This guide highlights the variety of share plans in the market and illustrates the way in which these can be tailored to meet specific requirements as needed.
VAT planning lives on: restructuring of contracts to avoid VAT held not to be abusive in DPAS Ltd v HMRC download
In DPAS Ltd v HMRC, the FTT held that DPAS’s supply of payment services to patients directly could not be a taxable supply of debt collection services.
Relaxation of NDRC rules has immediate impact, but uncertainty remains if there is only ever one anointed Chinese bidder download
Developments in Tsinghua’s bid for RDA Microelectronics show the immediate impact of December’s relaxation of outbound investment regulations in China.
Western oil majors have worked hard to get their foot back into the door of the petroleum sector in the Middle East. But now this is set to change.
The Jersey Financial Services Commission has published its consultation paper on the penultimate stage of its Review of Financial Advice.
Standard Chartered consolidated its two Jersey banking entities into a single operating platform for its Jersey business in September 2013.
The Moneylenders Act 1991 was intended to regulate lending practices in the Isle of Man by providing a regulatory framework for consumer loan agreements.
There is no doubt that second ranking security can be taken under the Security Interests (Guernsey) Law, 1993. But the process can be somewhat involved.
The European Commission has adopted a proposal for a directive on the protection of trade secrets.
Court rules that Garlock’s settlement history does not accurately represent its actual asbestos liability download
Garlock Sealing Technologies is only liable for a fraction of the asbestos liability alleged against it by current and future mesothelioma claimants.
DLA Piper has announced that Christina Houston has joined its corporate and finance practice as a partner in the Wilmington office.
The publication of the Resource Guide to the US Foreign Corrupt Practices Act was followed by a mixed year in terms of the number of resolutions and size of recoveries.
Stephenson Harwood has advised VietJet Air on the purchase of up to 46 CFM 56 aircraft engines worth (at catalogue prices) up to $800m.
Choosing and including the correct type of jurisdiction clause in a contract is important.
Un-safe Harbor: is Safe Harbor an adequate means of protecting EU personal data transferred to the US? download
Since its introduction, many in the EU have been sceptical about the security offered by Safe Harbor
Wildgen has annouced that it has hired junior associate Martin Scholter, who specialises in banking and finance law and capital markets.
Wragge & Co has announced that Quentin Poole and Peter Thorne have been recognised in The Lawyer’s Hot 100 List for 2014.
New year, new TUPE download
The final version of the regulations amending the TUPE business transfer and outsourcing regulations has been published.
The proliferation of electronically stored information is driving legal departments to re-engineer dispute management to improve outcomes and lower risk.
Draft social media guidance download
After four years of waiting, the Food and Drug Administration has released its draft social media guidance.
This unusual application related to proceedings to revoke a European patent and a declaration that an SPC based upon it would not be valid.
King & Wood Mallesons has advised Neway Valve on its successful listing on the Main Board of the Shanghai Stock Exchange.
King & Wood Mallesons has advised China Cinda Asset Management in its successful listing on the Main Board of the Hong Kong Stock Exchange (SEHK).
Stephen Kitts, Asia managing partner at Eversheds, has stated that the short-term dip in demand is no bad thing over the long run.
Paula Barrett, data privacy expert at Eversheds, has commented on the theft of almost half of all South Korea’s credit card details.
A Düsseldorf court has referred questions to the CJEU on the supply of substances by a third party to a company that intends to use the substance for obtaining a marketing authorisation.
This week’s All Consuming Legal Insights video from Taylor Wessing focuses on data protection.
Taylor Wessing’s lawyers from Austria, Germany and the UK explain their respective national approaches to the issue of ex-employees in possession of trade secrets.
Taylor Wessing asked lawyers across its restructuring and corporate recovery team to describe how things might develop in this market during 2014.
DIFC court determines it has inherent jurisdiction to stay proceedings in favour of DIAC arbitration download
The DIFC court has confirmed that it has the inherent jurisdiction to grant a stay of proceedings in favour of a DIAC arbitration.
The DIFC court has declined to stay proceedings in favour of an LCIA arbitration in London, despite finding that the arbitration clause was valid.
The proportion of women on FTSE 100 boards has reached 20 per cent for the first time.
New rules that will apply to most businesses selling to consumers, whether online or in a traditional store, have been laid before parliament.
On 19 December 2013, the Department for Business, Innovation & Skills released a new consultation on the use of zero-hours contracts.
DLA Piper’s Africa group has expanded in northern, southern and eastern Africa with the addition of three new member firms.
DLA Piper has represented EagleView Technology in the negotiation of the agreement by which it will be acquired by Verisk Analytics for $650m.
There can be, and often are, disputes between clubs and players regarding the ‘extra’ contractual clauses that are often inserted into contracts.
The realities are that in any football insolvency the creditors (including the players) lose out and the players involved are usually at the lower-level clubs.
Match-fixing cases tend to be messy. They can result in three (possibly four) sets of legal proceedings all running at once.
It is common practice for clubs to ask players to enter into pre-contract agreements. However, are such agreements enforceable?
It is not uncommon for sportspeople to find themselves being ‘benched’ for reasons other than their on-field performance or their off-field behaviour.
The first two weeks of 2014 ushered in an extraordinary weather disaster affecting most of the US, causing property damage and business interruption.
The New York Non-Profit Revitalization Act of 2013 was signed into law on 18 December 2013 and the bulk of its provisions will take effect on 1 July 2014.
Shameer Jasani has been appointed as a partner in the Cayman Islands office while Ray Ng joins the BVI and Asia office as partner and head of litigation.
King & Wood Mallesons has been ranked number one for announced M&A deals in 2013 by deal count according to mergermarket’s league tables.
According to KPMG, today’s energy and natural resources organisations may be unprepared to meet the ever-growing array of risks now present in the market.
A KPMG report has revealed a disconnect between executives who realise the value of big data but are unsure of how to effectively implement their existing resources.
Hogan Lovells has continued to demonstrate the strength of its worldwide platform with its showing in the full-year M&A league tables.
Conyers Dill & Pearman has advised Premier Oil on the establishment of its £500m euro medium-term note programme.
Conyers Dill & Pearman has advised FTV Capital on its $40m investment in Credorax, a company that processes credit and debit card payments.
Appleby has advised China Hydroelectric Corporation in its merger with CPT Wyndham Holdings and CPT Wyndham Holding Sub.
The Court of Session has confirmed that the expiry of fixed-term contracts does not trigger the requirement to collectively consult with appropriate representatives.
The government can suspend ‘affiliates’ of a suspended contractor, even though there is no allegation that the affiliates themselves had done anything wrong.
The UK Competition Appeal Tribunal has released its ruling on the applications by Eurotunnel and SCOP for review of a Competition Commission report.
After many promises and debates, and much activity, the TUPE regime is changing (in the main) on 31 January 2014.
The NSW government has announced a review of the Retail Leases Act 1994 and invited stakeholders to make their submissions by 7 February 2014.
DLA Piper has retained its number-one ranking globally for overall deal volume in 2013, according to mergermarket’s league tables for legal advisers.
KWM has secured a key role advising Medibank Private on the Australian federal government’s scoping study into the potential privatisation of Medibank.
This is the first ruling of this type on article 5(3) in the context of antitrust damages actions and will aid the establishment of English jurisdiction for such claims.
The Commercial Court has jurisdiction to grant security for costs against claimants seeking to enforce arbitration awards in the English court under the New York Convention.
DLA Piper’s head of global equity, Dean Fealk, has been appointed to the Northern California DEC.
Shoosmiths has announced that chief executive Claire Rowe and partner Emma Gibson have been recognised in The Lawyer’s Hot 100 2014.
Employers wanting to avoid or manage industrial action would do well to consider the following points.
Wierzbowski Eversheds announces new senior associates and litigation team hire.
Hogan Lovells has announced that it has opened an office in São Paulo, Brazil — its second in Brazil, with one already in Rio de Janeiro.
Allen & Overy has advised Link Market Services in connection with the acquisition of Registrar Services, based in Frankfurt, from Deutsche Bank.
The JFSC has published a guidance note relating to insurance business transfer schemes under the Insurance Business (Jersey) Law 1996.
Popovici Nitu & Asociatii has advised Romanian construction company Hidroconstructia on a new €60m syndicated loan.
On 20 December 2013, the CFTC issued a series of comparability determinations for certain swap dealer and major swap participant business conduct requirements.
The draft Finance Bill 2014 proposes a number of changes to the approval process for employee share schemes.
M&A Index — China’s merger controls download
The power of MOFCOM is being felt at home and abroad, and investors must potentially be prepared to confront some significant and costly hurdles.
DLA Piper has represented Arsenal Capital Partners in its purchase of Certara, a biopharmaceutical service provider.
The Allen & Overy Corporate Funding Monitor looks at loan, bond and equity issues to non-financial corporates over the past decade.
DLA Piper has advised the Hain Celestial Group on the acquisition of Tilda.
Tim Tolhurst discusses how DSM’s procurement organisation has driven success by enhancing the awareness and capabilities of supplier relationships.
Fredrick Spalcke, chief procurement officer of Philips, discusses how procurement organisations can leverage internal expertise for supplier analysis.
Tim Tolhurst, chief purchasing officer of DSM, discusses seven key strategies that he uses to compel business value within his procurement organisation.
NCTM has assisted L Capital in the closing of a contract for the purchase of a 30 per cent stake in Vicini Spa, a company led by Giuseppe Zanotti.
The European Banking Authority has approved the draft regulatory technical standard on the definition of material risk takers.
Wragge & Co’s public companies team has completed the reverse takeover of AIM-quoted cloud service provider Nasstar.
All private sector employers must give written notice of wage rates to all New York employees, both exempt and non-exempt, by 1 February of each year.
On 2 January 2014, FERC and CFTC signed two MoUs, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
This week’s All Consuming Legal Insights video from Taylor Wessing focuses on 3D printing.
When key employees leave to join a competitor, employers often risk losing other team members to the new employer too.
The Confidential Relationships (Preservation) Law: the Cayman Islands’ Confidentiality Legislation download
Much has been made in recent times of the need for transparency in offshore financial centres.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 imposed additional new requirements on commodity trading advisers.
This article sets out how you can ensure your company avoids falling foul of the competition rules on exchanging information in its dealings with competitors and other market players.
Eversheds has commented on the latest set of performance figures for the UK retail sector.
Eversheds has advised New World China Land on its acquisition of Penta Hotel Holdings for approximately €13.5m.
Eversheds has commented on changes to the Basel III regulations, stating that they are good news for economic growth.
DLA Piper has represented Musco Sports Lighting in a joint venture with Ferrostaal Industrial Products.
Allen & Overy’s latest M&A Index has revealed that the recovery in M&A activity predicted at the beginning of 2013 has failed to materialise.
Hogan Lovells has recruited Mark Parsons into its corporate/commercial team in Hong Kong as a partner with a particular focus on complex commercial transactions and regulatory matters in the TMT sector.
Mills & Reeve has acted for Low Carbon Innovation Fund on a series of investments totalling approximately £12.5m in just nine months.
Stephenson Harwood has advised Fujian Nuoqi on its H-share listing on the Hong Kong Stock Exchange.
A simplified package — European Commission relieves the administrative burden in merger reviews download
The European Commission plans to adopt a legislative package with the aim of simplifying the merger notification procedures imposed on companies by the EU Merger Regulation.
HM Revenue & Customs has proposed to tighten up the rules allowing members of a limited liability partnership to be treated as self employed.
New amendments to PRC Company Law download
On 28 December 2013, the Standing Committee of the National People’s Congress announced the fourth set of amendments to the PRC Company Law.
The thorny issue of the drafting of conditions went before the High Court in R (oao) Teresa Sienkiewicz v South Somerset District Council and Probiotics International Ltd.
This year, the SEC is intent on bringing record numbers of financial reporting cases and has some new tools and resources to enable it to do so.
Law à la Mode — 2013–14 download
DLA Piper has published the winter edition of Law à la Mode, which includes a review of the potential pitfalls and opportunities when franchising in the UAE.
BCIPA does apply to construction work on a mining lease — J&D Rigging Pty Ltd v Agripower Australia Ltd download
Once again, contractors can use the BCIPA process to seek payment for work done on a mining lease.
We are well positioned to advise corporations about compliance with new legislation and to represent individuals and companies subject to investigation and prosecution.
DLA Piper advised on more than 20 significant inbound and outbound US transactions that closed last year on behalf of Israeli institutional investors and companies.
2014 deadlines approach to furnish incentive stock option and employee stock purchase plan information statements and returns download
Section 6039 of the Internal Revenue Code requires a corporation to furnish a written statement to certain employees or former employees.
Hogan Lovells has announced that counsel Jay Dougherty was named a ‘Counsel of the Year’ by the Association of Media and Entertainment Counsel (AMEC).
The amendments to Regulation A are intended to expand the existing exemption to increase access to capital for smaller companies.
Eversheds’ Swedish office has advised Virtusa Corporation, which has acquired Swedish company TradeTech Consulting Scandinavia.
Collyer Bristow has announced that it has recruited intellectual property specialist Tim Bamford from Withers, where he had been a partner since 2005.
With innovation driving the economy, these IP and commercial specialists are making their mark.
The BVI’s approved manager regime for investment managers and advisers has had a successful first year, becoming popular for its straightforward application process.
CFTC no-action relief and request for comment for the transaction-level requirements of non-US swap dealers download
On 14 November 2013, the DSIO of the CFTC issued Advisory 13-69 in response to inquiries from swap market participants.
Coalition’s review of the franchise sector means potential penalties for frachisors but may also deliver national consistency download
The coalition government has announced that this year it will review and amend the Franchising Code of Conduct to improve protections for small business franchisees.
On 6 January 2014, workers at a Goodyear factory in Amiens, ‘boss-napped’ two directors over plans to close the site. Shoosmiths consider the factors that led to this.
DLA Piper has advised UK Mail on an agreement with the Department for Transport to relocate its central distribution hub in the West Midlands to make way for the HS2 rail link.
Conyers Dill & Pearman has advised Hony Capital Fund V and New Good Management on the $495m privatisation of Simcere Pharmaceutical Group by way of merger.
During 2013, Goodman Derrick’s technology group had lead roles in relation to three equity fundraisings for technology companies.
For the fourth consecutive year, Minter Ellison has been ranked as one of Australia’s ‘elite’ firms for competition law by Global Competition Review in its global survey.
Prioritisation and globalisation drive higher fine totals from fewer investigations.
Lessons from the Julstar decision and government position on penalties for Franchising Code breaches download
The decision highlights the importance of exercising caution in making pre-contractual representations and documenting those representations prior to entering into an agreement.
Dacheng attorneys have received a ‘Top Partner’ award from Guangdong Alpha Animation & Culture at the company’s 20th anniversary ceremony.
Appleby Isle of Man is celebrating the addition of new advocates Katherine Johnson and Alexandra Watterson, as well as the exam success of two trainees.
King & Wood Mallesons has announced the appointment of Craig Pollack as the new global co-ordinator for dispute resolution/litigation.
King & Wood Mallesons has appointed four new special counsel and 28 new senior associates across its Melbourne, Sydney, Brisbane and Perth centres.
EPA has amended its ‘All Appropriate Inquiries’ rule, which sets out the standard for environmental due diligence in commercial and industrial property transactions.
We advise and appear regularly in appeals before the First-tier Tax Tribunal and the Upper-tier Tribunal for both appellants and HMRC.
We are regularly instructed by local and national regulators as well as regulated companies and individuals across a wide range of industries.
We have a distinguished reputation in licensing law and the length and breadth of our experience in this area is unmatched.
We are highly experienced in dealing with cases in international criminal and humanitarian law.
We are experts in coronial law and appear in inquests as well as claims for judicial review of coroners’ decisions.
Building on its experience and reputation in criminal cases, Three Raymond Buildings is regarded as a leading set in health and safety and fire safety work.
Dacheng attorney Miao Qian has been named an outstanding representative of Beijing’s legal profession.
Back to 2013 — Luxembourg newsflash download
Arendt and Medernach has released a short flashback intended to enable you to keep track of the main legal trends that marked 2013.
Allen & Overy has reported that across seven major jurisdictions selected for its Global Cartel Enforcement 2013 Year in Review, cartel fines handed down in 2013 totalled €3.1bn.
This digest attempts to give the reader a high level summary of the major commercial cases decided in Bermuda, the BVI and Cayman in the third quarter of 2013.
James Batham, partner and head of the retail sector at Eversheds, looks at what happened in 2013 and what the outlook is for the year ahead.
New rules that will apply to most businesses selling to consumers, whether online or in a traditional store, have been laid before parliament.
Addleshaw Goddard has announced the arrival of commercial litigation expert Bill Gilliam, previously head of Eversheds’ health and life sciences practice.
Bristows has appointed partner Rosemary Choueka and announced the promotion of three associates to the partnership next May.
Conyers Dill & Pearman has announced that Paul Smith has relocated to the law firm’s Cayman Islands office to further support its litigation practice.
King & Wood Mallesons has advised Qinhuangdao Port on its successful listing on the Main Board of Hong Kong Stock Exchange.
Macronix seeks ban on Spansion non-volatile memory devices and all products containing such devices download
All companies that import such products (even not named in the ITC complaint) face potential risk of Customs seizure.
Plug-in hybrids will lead the pack among e-vehicles in the race to produce cleaner, more efficient vehicles, according to a KPMG survey.
This update presents a more in-depth analysis of the proprietary trading aspects of the Final Rule and their implications for affected institutions.
Singapore is looking to create an innovative dispute resolution system that will be of interest to many clients, especially those with commercial interests in south-east Asia.
This update presents an in-depth analysis of the covered funds aspects of the final regulations and their implications for affected institutions.
DLA Piper has announced that Wayne P Bunch Jr has joined the law firm’s franchise and distribution practice as a partner in the Houston office.
Participation of government contractors in patent infringement actions against the US government download
The recent decision by the US Court of Appeals for the Federal Circuit in the case of In re Uusi LLC et al No 2013-155 may be of interest to companies that sell to the US government.
Tax prompts — January 2013 download
Government Ordinance no. 8/2013, published in the Official Gazette no. 54 of 23 January 2013, brings several amendments to the Fiscal Code.
China’s revised consumer rights protection law ‘raises the bar’ for both ‘bricks and mortar’ retailers and online retailers download
China is now believed to be the world’s largest online marketplace, as well as quickly gaining on the US as the country with the largest overall retail marketplace.
Cloud computing: key telecommunication regulatory issues for foreign service providers in China download
This briefing discusses key telecommunication regulatory issues for foreign companies that want to provide cloud computing services in China.
In a KPMG survey of 60 executives, 90 per cent indicated that the number of cross-border investigations have either increased or remained the same over the last year.
Gavin Kealey QC and Tim Jenns acted for the claimant, BAT Industries, in a substantial jurisdiction application.
Appleby has acted as Cayman counsel for China Wood Optimization (Holding) in relation to its listing on the Hong Kong Stock Exchange by way of placing on 6 January 2014.
‘New Year’s resolutions’ for New York non-profits: the New York Non-Profit Revitalization Act of 2013 download
Debevoise & Plimpton offers four New Year’s resolutions to help you plan and prepare for the coming changes for New York non-profit organisations.
The Commercial Court has given a stern warning to those who fund litigation for profit and the lawyers who advise them.
The UK government announced two main anti-avoidance provisions in its Autumn Statement last month.
Mourant Ozannes has acted for Premier Oil, a FTSE 250-listed international oil and gas exploration and production company, on the Jersey aspects of its recent fundraisings.
DLA Piper has hired Tim Tan as a partner in the corporate group of the Bangkok office. Tan joins from O’Melveney & Myers.
DLA Piper has represented Shanghai-based Fosun International in its $725m acquisition of One Chase Manhattan Plaza in New York from JPMorgan Chase.
Allen & Overy has advised NEXI and a syndicate of commercial banks on the $1.43bn debt financing of the Az Zour North IWPP.
The Court of Appeal has now reversed the decision in Aspect Contracts (Asbestos) Ltd v Higgins Construction plc.
More carrot, less stick: the Groceries Code Adjudicator issues guidance on investigation and enforcement powers download
The Groceries Code Adjudicator has issued guidance on how the adjudicator will carry out its investigation and enforcement functions under the Groceries Code Adjudicator Act 2013.
There has been much debate about the circumstances in which minimum RPM will constitute a vertical monopolistic agreement prohibited by article 14 of the AML.
Foreign companies operating in certain complex or sensitive industries in China need to do more than instil an anti-corruption policy.
Mills & Reeve has been included in The Sunday Times’ 100 Best Companies to Work For list for the 11th year running.
The next Quarterly List must be placed in stations’ public inspection files by 10 January, reflecting information for the months of October, November and December 2013.
Ince & Co’s London corporate energy team has advised Houston-based Newpark Resources on its acquisition of Oxfordshire-based Terrafirma Roadways.
Mills & Reeve has acted for Healthcare at Home, a clinical homecare provider, in its strategic acquisition of the Medihome group.
Mills & Reeve has advised worldwide fruit and vegetable supplier UNIVEG on its acquisition of UK-based fruit company Empire World Trade.
A number of reforms designed to simplify certain aspects of the EU merger control process came into effect from 1 January 2014.
New legislation presents challenges to investors as the Hungarian government advances its ‘unorthodox’ political agenda download
Since its election in 2010, the Hungarian government has used its parliamentary majority to pass much legislation — 223 new laws in 2012.
Conyers has advised Headland Capital and CHAMP Private Equity on the $500m privatisation of Miclyn Express Offshore (MIO) from the Australian Stock Exchange.
Bruce Dear, head of London real estate at Eversheds, has commented following the news that commercial property investment in London has hit a six-year high.
King & Wood Mallesons has advised Huishang Bank on its successful listing on the Main Board of Hong Kong Stock Exchange.
King & Wood Mallesons has advised Bitauto on its successful issue of American depository shares.
Richard Matthews, head of product liability at Eversheds, has commented on the recall by Wal-Mart in China of donkey meat found to contain fox meat.
Eversheds is one of a number of organisations sponsoring a new OHADA law diploma at the universities of Panthéon-Assas and Paris 13.
Eversheds has advised Merseyside Recycling and Waste Authority on a 30-year waste treatment PPP contract worth more than £1bn.
King & Wood Mallesons (KWM) has advised Zhejiang Zheneng Electric Power on its successful listing on the SSE through a shares swap absorption merger.
The next Children’s Television Programming Report must be filed with the FCC and placed in stations’ public inspection files by 10 January 2014.
DLA Piper has been recommended as a leading law firm in various practice areas by ‘50 Leading Law Firms in Ukraine 2013’.
DLA Piper has served as sole international counsel on the $1.1bn (£667m) offering by Power Grid Corporation of India, the largest power transmission company in India.
President Barack Obama has signed into law the Bipartisan Budget Act of 2013.
On 28 November 2013, the European Commission published a draft of a directive intended to harmonise the protection of trade secrets.
The European Commission has just revised the thresholds for the application of the EU public procurement directives.
Corporates and investors have access to capital again and are more willing to consider growth by acquisition. The financial services sector has been particularly active.
Mills & Reeve has advised Ubisense Group on its acquisition of Japanese company Geoplan Interworks KK for a maximum consideration of JPY564.7m.
Conyers Dill & Pearman has acted for the sponsors on a cash transaction involving the purchase of BMC Software by a private investor group.
The Groceries Code Adjudicator Act 2013 established the Groceries Code Adjudicator to enforce the Grocery Supply Code of Practice.
CFTC comparability determinations and no-action relief for certain foreign swap dealers and major swap participants download
The CFTC has approved a series of broad comparability determinations permitting substituted compliance for non-US swap dealers and major swap participants.
Conyers Dill & Pearman has advised Luxoft Holding, a European IT service provider, on all British Virgin Islands (BVI) law aspects of its secondary public offering.
Conyers has advised Mara Partners FS in connection with its founding shareholder subscription of ordinary shares and warrants of Atlas Mara Co-Nvest.
The European Commission has provided the finalised and agreed threshold values to apply from 1 January 2014 to 31 December 2015 for the procurement of public contracts.
The UK Business Select Committee has raised concerns that there is an inconsistency in the proposed UK Consumer Bill Of Rights, regarding the provision of digital content.
The developer of Minter Ellison’s BoardTrac app has been named in the top 20 in Deloitte’s Fast 500 Asia-Pacific list of the fastest-growing companies in 2013.
Is the safety, competitiveness and efficiency of Australia’s payment systems important to your organisation? Will recent and foreshadowed changes affect you?
Record fines and unprecedented investigations into bribery and competition violations signal a clear message to multinational firms to re-evaluate how they do business in China.
Early indications are that the free-trade zone will liberalise foreign investment into China, particularly in the financial services sector, and not just in Shanghai.
The British Virgin Islands (BVI) is home to more than 480,000 active business companies. This article considers the benefits of using a BVI company for an IPO.
Robin Johnson, head of international M&A at Eversheds, has commented following news that M&A in Europe reached a 10-year low in 2013.
The application of ETS to commercial aviation activities has been beset with controversy from the outset and had threatened to bring about all-out international trade war.
Following the October consultation, Briggs LJ published his Final Report on modernising the procedures and practices of the Chancery Division this month.
Nowe Centrum Lodzi has selected the offer of a consortium including Wierzbowski Eversheds for the co-ordinating concept for development of the Special Culture Zone.
Fiona Ghosh of Eversheds has commented following news that US retailer Overstock plans to accept online currency Bitcoin as payment.
Eversheds has advised Guotai Junan as the sole sponsor, global co-ordinator and bookrunner for the China Creative Home Group IPO.
Conyers has provided Bermuda law advice to Aircastle in connection with a joint venture to invest in leased aircraft with an affiliate of Ontario Teachers’ Pension Plan.
Hogan Lovells has advised the Shah Deniz Consortium as project counsel for the Stage 2 development of the Shah Deniz gas field in the Caspian Sea.
Conyers has provided Bermuda law advice to Arch Capital Group in connection with the offering of $500m aggregate principal amount of 5.144 per cent senior notes due 2043.
Foreign entities seeking recognition under Chapter 15 of the Bankruptcy Code must have a residence, domicile, place of business or assets in the US.
Appleby partner Judy Lee spoke at the recent China Offshore Summit in Shanghai about Chinese investments structured via BVI companies.
Hogan Lovells has appointed London partner Tom Whelan to serve as global co-head of private equity from 1 January 2014 alongside Jeffrey Hurlburt.
Hogan Lovells has advised Japanese companies Mitsubishi Corporation and GS Yuasa International on the formation of a joint venture with Robert Bosch.
Addleshaw Goddard is increasing its capability in Hong Kong following the appointment of a third partner in its associated local law firm.
Corporate lawyers at Walker Morris have advised the management team of Yorkshire-based UK Wealth Management on its acquisition by Ashcourt Rowan.
DLA Piper has advised Europe Virgin Fund, a private equity fund sponsored by Dragon Capital, on the acquisition of the majority stake in Portmone.com.
The treasurer has announced his conditional approval of a $7.5bn foreign investment application from State Grid Corporation of China.
DLA Piper has advised Arsenal Capital Partners and Chromaflo Technologies, a supplier of pigment and chemical dispersions, on the acquisition of CPS Color.
King & Wood Mallesons has expanded its Western Australia practice with the appointment of energy and resources partner Shaun McRobert.
CIMA has published a statement of guidance that applies to investment funds regulated under the Mutual Funds Law of the Cayman Islands.
What you think you know about data privacy in Australia and overseas may just be wrong. This ‘top 10’ fact sheet dispels some common misconceptions about privacy.
Appleby has acted as Cayman counsel for Consun Pharmaceutical Group in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 19 December 2013.
Appleby has acted as Cayman counsel for Fu Shou Yuan in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 19 December 2013.
Appleby has acted as Bermuda counsel for Kerry Logistics Network in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 19 December 2013.
In this final instalment, Thomson Reuters looks at the steps a new general counsel can follow in order to make a significant impact in the legal department.
Thomson Reuters provides a list of the top ways that will help both you and your legal department integrate with your company to function more like a business unit.
At the second meeting of the 13th CPPCC of Putuo District, Dacheng senior partner Shang Jiangang submitted a proposal on subsidising listed companies on the SEE.
Dacheng chairman Peng Xuefeg recently embarked upon a speaking tour of Europe, which took in a range of nations including Spain, Portugal and Romania.
A team of attorneys from Dacheng recently gave lectures on anti-bribery and anti-corruption for Stryker Corporation.
The Hong Kong office of Eversheds has advised BOCI Asia in connection with the HKD1.09bn initial public offering (IPO) of Consun Pharmaceutical Group.
Emma Edhem of No5 Chambers has been re-elected as the first female chairman of the Turkish British Chamber of Commerce and Industry (TBCCI) for a second term.
Taylor Wessing has advised PA Group on the sale of its full-service weather business, MeteoGroup, to General Atlantic.
Simon Rice-Birchall, partner at Eversheds, has said that after discussion over the potential abuse of zero-hour contracts, employers should expect some change to come.
Debevoise & Plimpton has published its FCPA Update for December 2013. The lead article is ‘Weatherford International enters the FCPA top 10 list with $152.5m in fines and penalties’.
Conyers Dill & Pearman has acted for Turbine Engines Securitization in relation to a pool of 32 aircraft engines and the issuance of fixed-rate notes and an e-certificate.
For companies with a year-end of 31 December, the new remuneration reporting requirements for directors of UK-incorporated listed companies will kick in from 1 January.
The energy reform proposed by Mexico’s Peña Nieto administration has been approved by the Mexican Congress and by a majority of the Mexican state legislatures.
Mills & Reeve has acted for the shareholders of Maynard & Harris Group on the sale of the company to RPC Group for an expected total deal value of £103.5m.
Eversheds has advised Emperor International Holdings, which through its wholly owned subsidiary Big Right Investment issued its inaugural USD listed notes.
NCTM has advised Willis Italia on its acquisition of the corporate branch of DSI Associati, which is currently chaired by Ettore Padrinin.
KPMG is perceived as having the strongest capabilities of any provider in the global sustainability assurance marketplace, according to the latest Green Quadrant report from Verdantix.
Eversheds has commented on the latest industrial trends survey from the CBI.
Any contractor who has provided a collateral warranty on a construction project will be interested to learn of the recent case of Parkwood Leisure v Laing O’Rourke Wales and West.
The European Commission has published the revised euro thresholds for the application of the procedures for the award of contracts under the EU public procurement directives.
Sometimes it’s hard to be a tenant. There are plenty of bear traps to keep you standing by your landlord.
E-commerce businesses should take a look at the discussion of MFN clauses in the Competition Commission’s Provisional Findings Report in its private motor insurance investigation.
Bristows partner Fiona Nicolson and associate Christopher Smits appeared in a recent episode of the China Britain Business Council series aired on The Business Channel.
In this article, Walker Morris considers six of the most important developments in English commercial law to have occurred in 2013.
Mourant Ozannes has advised the Stanley Gibbons Group on the Jersey aspects of its acquisition of Noble Investments (UK).
King & Wood Mallesons has advised Catalyst Investment Managers on the sale of its outside broadcast and studios business Global Television to NEP Group.
Hogan Lovells has advised Advent International on the sale of Oxea, a global manufacturer of Oxo chemicals.
Mills & Reeve has acted for FactSet Research Systems on its strategic acquisition of a majority stake in Matrix-Data.
Memery Crystal has acted for Gaming Realms on its acquisition of Quick Think Media for a total consideration of approximately £2.2m.
Two recent judgments of the Federal Court have highlighted the potential for Australian competition law to affect distribution arrangements between principals and their agents.
The European parliament, European Commission and Cabinet Office have revealed the latest plans for EU adoption and UK implementation of the new EU Procurement Directives.
Minter Ellison has advised Eagle Downs Coal Management in connection to a drift construction contract for AUD142.8m won by WDS for Eagle Downs’ Hard Coking Coal Project.
Conyers Dill & Pearman has provided Cayman Islands advice to Cayman Hotel Holdings pertaining to the $130m refinancing of the Ritz-Carlton Grand Cayman property.
Following Prof Löfstedt’s review of health and safety legislation in the UK, a number of changes were introduced to address some of the concerns that had been identified.
The number of new offshore companies registered in the first half of 2013 increased in most jurisdictions when compared to the second half of 2012.
The change of name to the Intellectual Property Enterprise Court makes sense. This court deals with intellectual property cases of all kinds, not simply patent cases.
On the Register — first half, 2013 download
Appleby has released the third edition of On the Register, a report that provides insight about company incorporation activity going on in the major offshore jurisdictions around the globe.
This brief provides a condensed summary of the key changes brought about by the Incentives for Job Makers Act 2013.
The UK IPO has rejected Tesco’s stylised mark for the word CLUBCARD covering a range of goods and services, including loyalty cards.
If a TV-on-demand service based in Hong Kong is viewed for free by UK internet users without having targeted them, does it generate goodwill in the UK? The Court of Appeal has said no.
Employment law 2013 review: TUPE download
TUPE reform has long been part of the government’s proposals to cut red tape.
Arendt & Medernach has released its Luxembourg legal update for December 2013.
The UK IPO has held that a UK trademark registration owned by Gucci for its famous ‘double G’ logo should be partially revoked for non-use.
Another area in which the legislative draftsmen have been busy is whistleblowing, a convenient if emotive description of a member of staff reporting malpractice in his or her organisation.
E-commerce tools and the anonymity offered by trading over the web have long been exploited by traders of counterfeit goods.
The new Australian privacy principles attempt to keep pace with changing technology, emerging privacy issues and developments in privacy law in Australia and internationally.
Brands Update: phoning Brazil? download
The 25th Lower Federal Court of the City of Rio de Janeiro has issued its decision in the conflict relating to the trademark IPHONE.
The idea that by threatening to take action against someone who is infringing your trademark you yourself could be sued often strikes brand owners as odd.
Allen & Overy has advised Tank & Rast Group on the successful placement of €460m senior second-lien high-yield bonds and on the placement of a €240m PIK facility.
While most will eagerly anticipate the gifts the festive season will bring, this time of year can be treacherous for tenants and landlords alike.
New PRC Consumer Rights Law fills legal void governing data privacy protections — get ready for 3/15/2014 effective date download
The newly revised Consumer Rights and Interests Protection Law of the PRC is the first revision of China’s old Consumer Rights Law since its promulgation in 1993.
As we head towards 2014, the finance market is becoming more optimistic and competitive.
Global capital markets: 2013 marked as the year of the ‘come-back’. What’s in store for 2014? download
In the end, 2013 did not disappoint, with resurgence in equity offerings, promising company valuations and greater market liquidity.
The High Court has confirmed that the liquidators of a landlord can disclaim a lease, with the effect of terminating the tenant’s leasehold estate or interests in the land.
Failing to proceed with due diligence: can this constitute a repudiatory breach of a building contract? download
The Technology and Construction Court examined this issue in two cases and found in each case that it was not a repudiatory breach on the facts of the case.
The Technology and Construction Court has found that a letter could constitute a valid notice notifying a breach even if it did not expressly refer to the relevant contractual provisions.
InShort — 12 December 2013 download
Addleshaw Goddard has released the latest version of InShort, which provides updates on legal news relating to the banking and finance sectors.
The Bribery Act 2013 came into force on 16 December 2013 and it is largely based on the Bribery Act 2010, which came into force on 1 July 2011.
The government has just published ‘Small Business: GREAT Ambition’, which sets out the measures it intends to enact to make access to public procurement easier for SMEs.
Minter Ellison has advised IAG on its acquisition of the Australian and New Zealand insurance underwriting businesses of Wesfarmers.
Hogan Lovells has advised the Alstom-Drax-BOC consortium, Capture Power, on the FEED contract awarded to the White Rose carbon capture and storage project.
Hogan Lovells has successfully advised on two capital markets transactions for a combined value of more than $355m.
Hogan Lovells has advised MOL Group on its agreement to acquire the entire issued share capital of Wintershall (UK North Sea) for a base consideration of $375m.
DLA Piper has advised NASDAQ-listed HomeAway on its purchase of Stayz Pty, a wholly owned subsidiary of Fairfax Media, for AUD220m.
DLA Piper has announced that partner Roy McDonald has been recognised as one of Silicon Valley Business Journal’s ‘40 Under 40’.
Pensions Priorities: law reform — new reporting requirements on directors’ remuneration for UK quoted companies download
Legislation came into force on 1 October 2013 that introduced a new legal framework for reporting on directors’ remuneration.
The Enterprise Investment Scheme and Seed Enterprise Investment Scheme offer a number of tax incentives to individuals investing in certain qualifying trading companies.
The Enterprise Investment Scheme and the Seed Enterprise Investment Scheme offer a number of tax incentives to individuals investing in certain qualifying trading companies.
DLA Piper has represented Fibra UNO, Mexico’s first publicly traded REIT, in its debut in the Mexican debt capital markets.
A new dawn for defamation? download
The Defamation Act 2013 comes into force on 1 January 2014. Shoosmiths provides details of the new regulations.
The government has announced ‘reverse-charge’ rules for the sale of businesses and farm land.
Welcome to the first edition of Explore, DLA Piper’s magazine for the mining sector. Three times a year, the law firm will bring you a selection of insights from its global mining team.
This article summarises the key points made by Popplewell J, in the recent case of Madoff Securities International Ltd (in liquidation) v Raven and Others (2013).
Mills & Reeve, alongside a number of other law firms, has advised GB Group on the financing of its new hotel development at Portland Crescent.
Appleby has acted as Cayman Islands counsel to Yi Hua Department Store Holdings in connection with its listing on the Main Board of the Hong Kong Stock Exchange.
DLA Piper has represented Isola USA Corp in connection with the refinancing of its senior debt and pay-down of other debt.
Appleby has acted as Cayman counsel for Times Property Holdings in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 11 December 2013.
Eversheds has advised Milan-based Recordati Spa on the acquisition of 67 per cent of shares in Tunisian pharmaceutical company Opalia Pharma.
Xu Yongqian of Dacheng has signed a three-year-term strategic co-operation framework agreement on behalf of Dacheng with CASME.
Kabbani and Bruton of Eversheds have commented following news that the Gulf Cooperation Council has seen record growth in the number of industrial companies and workers.
Further to Walker Morris’s Energy Update last month, there have been a number of recent announcements worthy of note.
This guide examines the recent reform of e-disclosure obligations introduced to tackle the demands of modern business disputes and offers tips to help you stay ahead of the game.
Bawag PSK and Signa Group have signed the contracts for the sale of the postal office savings bank building at Georg-Coch-Platz in Vienna. Binder Grösswang advised Bawag PSK in this process.
It is a fundamental principle of English law that when assessing damages for breach of contract, any damages awarded should compensate the innocent party for the loss of its contractual bargain.
The Volcker Rule — an overview download
Federal banking agencies, the Securities and Exchange Commission and the Commodity Futures Trading Commission have adopted final regulations to implement section 13 of the ‘Volcker Rule’.
A new Criminal Procedure Code was enacted in Serbia in October 2013. The code has introduced the new concept of investigative proceedings into the process.
George Osborne announced in his Autumn Statement that the government will introduce a climate change agreement for the UK data centre sector by the end of 2013.
KPMG International has announced record-high aggregated revenues of $23.42bn for the fiscal year ended 30 September 2013.
King & Wood Mallesons has advised Haier Electronics on a strategic investment agreement with Alibaba Group.
Minter Ellison has worked with Indigenous Business Australia (IBA) on the establishment of the Indigenous Real-Estate Investment Trust.
Chancellor George Osborne has delivered a fiscally neutral Autumn Statement, which was a ‘long-term plan for a grown-up country’.
In the third quarter of 2013, there were 538 deals announced offshore, with a combined value of $34.5bn.
The Public Interest Disclosure Act 2013 (Cth), which establishes a new public interest disclosure scheme for the Commonwealth public sector, comes into force in January.
Australia treasurer Joe Hockey has announced the removal of foreign investment conditions placed on Yanzhou in relation to its holding in Yancoal.
Cross-border investment and M&A between China and Europe in the clean energy sector was quiet in 2013.
With the right technology, in-house counsel can more proactively manage legal risk, reduce the cost of legal services and improve productivity.
Allen & Overy has advised JP Morgan Securities in connection with the capital increase of ThyssenKrupp, raising gross proceeds of approximately €882.3m in a private placement.
Allen & Overy has announced the appointment of Stephen Lloyd as a private equity partner in its London corporate group.
Appleby has acted as Cayman Islands counsel for U Banquet Holding in relation to its listing on the Growth Enterprise Market of the Hong Kong Stock Exchange.
Partner Cao Qi will advise the government of Jinshan District, Shanghai, on matters related to corporate restructuring and listing.
Hogan Lovells has recruited Antonin Lévy, a partner dedicated to white-collar criminal defence, to its litigation practice in Paris.
Semiconductor business leaders see less momentum today for a sustained industry recovery in 2014 than a year ago.
The latest instalment of ‘All-Consuming Legal Insights’, Taylor Wessing’s new video series, focuses on changes to consumer rights in the UK.
DLA Piper has advised Safestyle UK, a retailer of PVCu windows and doors for the UK homeowner replacement market, on a £77m placing on London’s AIM market.
The European Commission has announced its plans to both reshape the simplified merger notification process within the framework of the EUMR.
Over the last few years, major power projects such as offshore wind and nuclear new build have increasingly been procured on a multi-contract basis. With this in mind, here are ten things that a developer should be aware of when drafting and negotiating contracts for a multi-contract project.
An in-depth understanding of the unique legal environment in China is essential to fully understand compliance requirements.
Siena Group has been advised by Popovici Ni?u & Asocia?ii on taking entire control of Iasi City Center SA.
Remedies for breach of contract: Scottish courts will enforce payment and performance, not just damages download
If one party to a contract threatens not to perform their obligations, the innocent party has different options depending on whether they are able to raise court proceedings north or south of the border.
On 5 November 2013, the European Commission published draft revised guidelines on state aid for rescuing and restructuring firms (non-financial firms) in difficulty.
Wragge & Co and Lawrence Graham are set to merge, forming a new firm — Wragge Lawrence Graham & Co — from 1 May 2014.
While there is a need to protect the public, there is also scope for the sensitive words and expressions list to be simplified.
DLA Piper has advised BTG Pactual as arranger and placement agent of a $132.8m project bond offering by Planta de Reserva Fría de Generación de Eten.
Parmjit Singh, India trade expert at Eversheds, has commented following news that exports to India have increased by 20 per cent following UK trade delegations to the continent.
A KPMG survey indicates that while many large companies acknowledge corporate responsibility risks, their executives are not incentivised to manage these effectively.
KPMG has welcomed the publication of the International Integrated Reporting Council’s integrated reporting framework.
Minter Ellison has provided legal advice to TPG, which has entered into a binding sale agreement to acquire 100 per cent of Telecom New Zealand Australia.
The dispute arose under a memorandum agreement for the sale of a vessel on Norwegian Saleform 1993 terms.
Conyers Dill & Pearman has advised Aircastle on the offering of $400m aggregate principal amount of its 4.625 per cent senior notes due 2018.
DLA Piper has represented EdgeCast Networks in its acquisition by Verizon Digital Media Services. The transaction is expected to close in the first quarter of 2014.
Addleshaw Goddard has released the November 2013 edition of InSure. This section focuses on new legislation and consultations.
Allen & Overy has advised German pharmaceutical and chemical group Merck on its £1.6bn takeover offer of Luxembourg-based AZ Electronics Materials.
Appleby acted as Cayman Islands counsel to Dongpeng Holdings Company Limited in connection with its listing on the main board of the Hong Kong Stock Exchange.
Hogan Lovells has announced that the firm has relocated its Silicon Valley office from Palo Alto to a larger newly designed office in Menlo Park.
Ince & Co’s London-based commodities, shipping and commercial disputes specialist Stuart Shepherd has succeeded Steven Fox as the firm’s global head of trade.
Shoosmiths has hired Simon Edwards to its national commercial team, who has extensive commercial contracts expertise and specific experience in a number of sectors.
Eversheds has advised Malaysia’s third-largest listed plantation company, Kuala Lumpur Kepong Berhad, on a $21.3m cash offer for Equatorial Palm Oil.
No5 Chambers’ Timothy Jones and Victoria Hutton have successfully defended planning permission for a Morrison’s supermarket in the face of a judicial review application.
The court has confirmed that, where the negotiations are complex, a contract can be made in two jurisdictions.
InVest — November 2013: market news download
Addleshaw Goddard has released the November 2013 edition of InVest. This section focuses on market news.
Addleshaw Goddard has released the December 2013 edition of InCredit. This section focuses on advertising.
The answer, following the Privy Council decision in Caribbean Steel Company Ltd v Price Waterhouse (a Firm)  UKPC 18, is very fundamental.
Appleby has acted as Isle of Man counsel to private equity firm Vitruvian Partners in relation to its agreement to provide funding to support a management-led buyout of Royal London 360°.
Governance News — 10 December 2013 download
Governance News from Minter Ellison summarises the top headlines in corporate governance this week.
AUSTRAC and the Commonwealth Attorney-General’s Department have released an issues paper as part of a post-implementation review of Australia’s AML/CTF regime.
David E Grant of Outer Temple Chambers spoke at the recent Annual Winter Trade Finance Conference hosted by the International Chamber of Commerce.
SFO spotlight on construction sector download
The construction sector has recently come under the spotlight following comments made by the Director of the Serious Fraud Office.
Nominet, the UK’s registry operator, has announced that, from summer 2014, shorter .uk domain names will be made available for registration.
Global Data Protection Index download
This is only the second time that the Data Protection Index has featured in Global Intellectual Property Index, yet a number of trends are already apparent from the results.
‘Conversion’ consists of an act of deliberately dealing with goods in a manner inconsistent with the owner’s rights to use the goods, thereby depriving the owner of those rights.
Taylor Wessing looks at the latest news and updates in the data protection and information technology sectors.
Data protection news update — Europe download
In this briefing, Taylor Wessing focuses on European data protection news and updates.
The current position is that rent and service charges payable in advance and which fall due before the appointment of an administrator are not considered an expense of the administration.
The dilemma of delayed completion download
If a buyer fails to complete on the completion date, this will amount to a breach of contract.
Sandra Duerden from Mourant Ozannes has written a chapter focusing on Guernsey for the Getting the Deal Through: Right of Publicity publication.
An issue that comes up fairly regularly in redundancy selection is whether employers must consider all employees in similar roles or whether they can opt for a ‘pool of one’.
Hibbett v The Home Office is another case on the duty to make reasonable adjustments for an employee with a disability.
The introduction of compulsory pre-tribunal claim conciliation and forthcoming changes to the transfer of undertakings regulation download
This year saw a raft of changes to employment law being introduced by the coalition government and 2014 will be no different.
In Société des Produits Nestlé SA v Cadbury UK Ltd, the Court of Appeal gave careful consideration to the application of Article 2 of the Trade Marks Directive 2008/95/EC.
DLA Piper has acted for Knightsbridge Student Housing on its acquisition of additional student accommodation comprising of 224 beds in Lincoln.
DLA Piper has announced that Mariah DiGrino, an associate in the Chicago office, has been named as outside counsel of the Greater Chicago Food Depository, Chicago’s food bank.
The government of Western Australia has signed the Ord Development Agreement with Kimberley Agricultural Investment.
DLA Piper has advised the shareholders of Garwyn Group Ltd, a specialist liability adjuster, on its acquisition by insurance claims service provider Davies Group Ltd.
Minter Ellison has advised the founding shareholder of Zip Industries on the majority shareholding taken in the company by Quadrant Private Equity.
Appleby has acted as Bermuda counsel for Willas-Array Electronics (Holdings) in relation to its listing on the Main Board of the Hong Kong Stock Exchange.
Appleby has acted as Cayman counsel for Huaxi Holdings Company in relation to its listing on the Main Board of the Hong Kong Stock Exchange.
Third-Party Risk Management, a module of Passport GRC, helps companies to identify and assess third-party risks across the business.
On 27 November 2013, the New South Wales parliament passed the Motor Dealers and Repairers Act 2013 (NSW).
Payment claims under the security of payment legislation are often served during the holiday period.
The FCA has published a ‘Dear CEO’ letter sent by Clive Adamson, FCA director of supervision, to the chief executive officers of mortgage lenders relating to changes to mortgage contracts.
In March 2013 the European Commission consulted on proposals to simplify procedures under the EU merger regulation.
Allen & Overy tax partner Lydia Challen has written an article for British Tax Review as part of its analysis of the Finance Act 2013 provisions.
BIS business names consultation download
BIS is set to introduce measures to reduce the list of sensitive names that new businesses and charities must get approval for prior to incorporation at Companies House.
Emma Edhem, barrister at No5 Chambers, has been interviewed by The Wall Street Journal and The Economist on matters of bilateral trade and investment between Turkey and the UK.
No5 Chambers’ Emma Edhem has received an award from Eduplus in Turkey for leadership in her field.
Kings Chambers has partnered with Manchester University law school.
Appleby has acted as Cayman counsel for Eprint Group in relation to its listing on the Main Board of the Hong Kong Stock Exchange.
Conyers has advised BW LPG on the Bermuda law aspects of its initial public offering and listing on the Oslo Stock Exchange in November 2013.
KPMG’s Larry Bradley believes that the IAASB’s proposals are an important first step towards better meeting the needs of users who want more insight into audits than is currently possible.
ESMA has published a discussion paper setting out its initial views on the implementing measures it is required to develop under the Market Abuse Regulation.
Conyers Dill & Pearman has announced that Christopher Page has relocated to the firm’s Singapore office to further support the expansion of its practice in Asia.
Dacheng has topped Asian Legal Business’s Asia Top 50 and China Domestic Top 20 Largest Law Firms lists
DLA Piper has announced that the firm has again been recognised by The Financial Times in its 2013 US Innovative Lawyers report.
Philip Myers of Eversheds has commented in response to the UK chancellor’s announcement that the rise in business rates will be limited to two per cent.
Stephenson Harwood has advised CSE-Global on the sale of one of its wholly owned subsidiaries, Servelec Group, for £122m.
This short article surveys some key news from Pierre Tallot who heads up the Taylor Wessing RCR practice in France.
The Bermuda Court of Appeal has held that statements in relation to assistance at common law to foreign officeholders made in an earlier Privy Council decision were not binding on it.
Tougher product liability provisions following the release of long-awaited amendments to consumer rights and interests protection law in China download
The rise of consumerism in China over the past 10 years has spurred greater regulatory enforcement in the area of product liability.
The Italian DPA has issued a decision introducing more stringent obligations for the transfer of data to call centres located in countries outside of the EU.
With increasing internet penetration throughout the country, the e-commerce industry, like other industries in China, is growing at a swift pace.
A tribunal decision that required a committed Christian to work on a Sunday on an occasional basis in accordance with her contract of employment did not discriminate against her.
In D.R. Horton, Inc. v NLRB, the US Court of Appeals for the Fifth Circuit overturned a controversial NLRB decision regarding class- and collective-action waivers.
This is an important decision that is helpful to administrators wishing to cut costs to avoid closure of a business pending its sale as a going concern.
Directors cede management powers on the appointment of administrators; however, the ability to cause the company to challenge the validity of appointment is an example of an exception to this rule.
Limited recourse clauses questioned download
The judge’s comments call into question the impact of limited recourse provisions and bankruptcy remoteness.
A recent case has underlined the importance of a regular review of founding documents to ensure that those documents continue to meet your not-for-profit organisation’s objectives.
Ninth Circuit eliminates presumption of irreparable injury for plaintiffs seeking preliminary injunctions in trademark cases download
The Ninth Circuit has ruled that a trademark plaintiff must establish a likelihood of irreparable harm to obtain a preliminary injunction in a trademark case.
Jonathan Elvey, head of Ince & Co’s Piraeus office in Greece, will be returning to the firm’s London office.
Eversheds has announced a tie-up with Mahons Attorneys in South Africa and El Heni in Tunisia.
Pamboridis has announced that its managing partner, Yiota Kythreotou, has been appointed as a district court judge.
NCTM has assisted IBM Italia in the acquisition of ACG, its division dedicated to the development and the distribution of management software, by TeamSystem Group.
The FCA has published a report summarising its thematic work on outsourcing in the asset management industry.
While this agreement is undoubtedly an historic diplomatic coup for the western diplomacy, the interim Geneva deal remains limited.
The Safe Harbor scheme is of key importance to transatlantic trade.
The FCA’s chief executive recently gave a speech that focused on conduct and ethics within firms.
The US SEC has released long-awaited proposed rules under the crowd-funding provisions of the Jumpstart Our Business Startups Act of 2012.
Anthony Korn says statutory framework details ‘must change’ to encourage employees to report wrongdoing.
Taylor Wessing has published its Radar: Technology & Communications Update for December 2013. This section focuses on communications.
Allen & Overy has announced the appointment of Peter McDonald to head the firm’s antitrust and competition practice in Australia.
Appleby has acted as BVI counsel to Dalian Wanda Commercial Properties in relation to the listing of US$600m (£367m) 4.875 per cent guaranteed bonds due 2018.
The November 2013 edition of the Employee Incentives Alert has been published by Addleshaw Goddard.
Co-head of Pillsbury’s energy industry team, Robert A James, authored this chapter in the publication The Oil and Gas Law Review.
Taylor Wessing has published its Radar: Technology & Communications Update for December 2013. This section focuses on cyber security.
Wragge & Co’s corporate team has advised Huhtamäki Oyj on its acquisition of UK-based BCP.
The Chambers UK Bar Guide has ranked No5 Chambers in 15 practice areas.
The law firm’s commercial team has won an award for its advice to Universal on the reorganisation of EMI.
Eversheds’ Asia managing partner has commented on the UK’s trade delegation to China.
On 28 November 2013, the Court of Justice of the EU gave judgment in two appeals by the Council of the EU against judgments of the General Court annulling the asset freezes imposed by the Council on two Iranian companies.
Tenancy of Shops Act in Scotland download
Unlike the position in England, in Scotland there is virtually no statutory protection for a commercial tenant at the expiry of their lease.
The government has confirmed that it will introduce a new system of shared parental leave by April 2015.
The UK’s living wage recently increased by 20p to £7.65 an hour outside of London and by 25p to £8.80 per hour in London. This equates to a pay rise of more than £450 for Londoners working full time.
In mid-November 2013, ASIC released a consultation paper in relation to the relief for employee share schemes from the disclosure (prospectus/PDS) and licensing requirements of the Corporations Act.
Governance News — 3 December 2013 download
Governance News from Minter Ellison summarises the top headlines in corporate governance this week.
This briefing includes a capsule review of the relevant provisions of the Dodd-Frank Act that were crafted to enhance corporate responsibility.
Is an employer obliged to make reasonable adjustments in respect of an employee who is not herself disabled, but who has caring responsibilities for a disabled person?
Independent Whistleblowing Commission publishes report on whistleblowing framework and recommendations for reform download
The report makes a total of 25 recommendations for reform of the whistleblowing framework — Addleshaw Goddard reports on some of the key recommendations in this briefing.
The EAT has held that an employee’s self-diagnosis is not necessarily conclusive.
The High Court has granted an interim injunction to enforce a garden leave clause in a stockbroker’s employment contract, so as to force him to stay at home for the duration of his 12-month notice period.
The government has published its response to the consultation on the administration of the new shared parental leave and pay system to be introduced in 2015.
Dismissals of football club employees shortly before sale of the club by the administrator not automatically unfair download
The Court of Appeal has found that dismissals of football club employees shortly before a sale of the club by the administrator were not automatically unfair under Regulation 7 of TUPE 2006.
This second instalment of ‘All Consuming Legal Insights’, Taylor Wessing’s new video series, focuses on protecting your business.
Stephenson Harwood has advised new client Kalibrate Technologies on its placing and admission to trading on the AIM market of the London Stock Exchange.
Part II provides an overview of the procurement process and what Japan is likely to expect from tenderers from commercial, compliance and cultural perspectives.
Hogan Lovells has advised EDF in relation to the issue of green bonds for a total value of €1.4bn (£1.2bn) — the first green bond ever issued by a corporate.
Conyers Dill & Pearman has advised Barclays Capital, Citigroup Global Markets and Wells Fargo Securities on a $400m offering by Energy XXI (Bermuda).
Each EU member state has different mandatory legal requirements protecting players, and these requirements generally apply to the terms that games businesses enter into with them.
This is the second of two looks at new measures being introduced by the Revenue to crack down on what it perceives as the use of partnerships for tax avoidance purposes.
There is an implied term allowing a paying responding party under an adjudication award six years from the date of payment to challenge the adjudicator’s decision.
The decision of the Supreme Court in London in the divorce proceedings of Prest v Petrodel Resources Ltd and Others was awaited with eager anticipation.
This article underlines the differences from the law or practice of the UK in three areas that have an impact on the enforcement of claims by creditors and shareholders of Bermuda companies.
King & Wood Mallesons has provided legal support to Beijing Zhongsou Network Technology Co.
Appleby has acted as Cayman counsel for PW Medtech Group in relation to its listing on the Main Board of the Hong Kong Stock Exchange.
King & Wood Mallesons has acted for the National Storage Group in relation to the establishment of National Storage REIT.
Dacheng partner Dai Jianmin, from the firm’s Shanghai international practice, has been awarded 2013 Competition/Antitrust Lawyer of the Year by Lawyer Monthly.
Conyers Dill & Pearman has provided Bermuda law advice to Maiden Holdings in connection with the offering by its wholly owned US holding company.
Dacheng and First Law International have held a conference at the law firm’s Shanghai office.
Allen & Overy’s international arbitration practice has again been ranked in the top tier by Chambers UK.
Conyers Dill & Pearman has provided BVI advice to Atlantis The Palm and Atlantis The Palm Holding Company on an $880m syndicated loan.
Appleby has acted as Bermuda and BVI counsel to Credit Suisse in connection with a two-tranche convertible bond issuance by Goldpoly New Energy Holdings.
Hogan Lovells has commented following the news that the European Commission has adopted a proposal for a directive to protect trade secrets against misuse by third parties.
Eversheds in Germany has advised Microsoft Deutschland on the relocation of its headquarters from Unterschleißheim to Munich, Parkstadt Schwabing.
Allen & Overy has advised Nationwide Building Society on the creation and inaugural issuance of £500m core capital deferred shares.
DLA Piper has won three awards at the Italian TopLegal Awards, held on 25 November in Milan to celebrate excellence in the Italian legal market.
Hogan Lovells has advised EDF in relation to the sale of its minority stake of 49 per cent in SSE to EPH.
In a surprising move, treasurer Hockey has ruled against the proposed acquisition by US company Archer Daniel Midland (ADM) of Graincorp Limited (Graincorp).
In today’s fast-moving commercial world where email negotiations abound, it is all too easy for parties to become inadvertently bound to unsuitable contracts.
The European Commission has announced a proposal for a Directive on trade secrets and confidential business information.
The treasurer has blocked Archer Daniels Midland’s proposed acquisition of Graincorp on the basis that it is contrary to Australia’s national interest.
DLA Piper has acted for Oncard International in the signing of a binding sale and purchase agreement with Great Bless Enterprises.
Rules to support the new framework for Commonwealth agencies, authorities and companies will be made under the Public Governance, Performance and Accountability Act 2013.
The China, Southeast Asia and South Asia Finance and Capital Market Legal Practice Forum and the 2013 annual meeting of Dacheng’s investment and M&A department recently took place.
Superannuation discussion paper released addressing regulation, governance, transparency and competition download
The Commonwealth assistant treasurer has released a discussion paper, Better regulation and governance, enhanced transparency and improved competition in superannuation, for public consultation.
Minter Ellison has recruited two former managing partners of international firms in Asia: Jem Li and Rebecca Silli.
Andrew Nunn, partner at Eversheds, has commented on news that Dubai-based property group Damac’s London flotation has been delayed.
This guide provides readers with an overview of Australia’s business rules, from foreign investment guidelines to taxation, consumer protection, intellectual property and the employment law system.
Research from KPMG reveals that many organisations take a narrow approach to talent management — one that is steadily weakening their competitiveness and agility.
DLA Piper has represented ACTIVE Network, a San Diego-based software company, in its $1.05bn acquisition by Vista Equity Partners.
The Commercial Court has ruled on a number of key legal issues concerning the duties owed by Lloyd’s brokers to remit funds promptly to clients and reinsurers.
Nabarro’s quick guide shows you how auto-enrolment will affect your business and provides you with a list of your obligations.
The Revenue has announced a number of measures to crack down on what it perceives as the use of partnerships for tax avoidance purposes.
James Klein provides an overview of the programme-level reporting issues that multinational corporations must manage with regard to their non-US long-term benefits plans.
Mark Forte and Tameka Davis of Conyers’ British Virgin Islands office discuss the duties of professional directors in BVI companies in the fourth-quarter issue of INSOL World.
Taylor Wessing’s new fixed-fee service is specifically designed to ensure technology SMEs are fully compliant with the law.
Minter Ellison has launched its Corporate HQ advisory hub — a central resource for directors, general counsel and company secretaries on corporate governance and law.
Conyers Dill & Pearman has advised 58.com in connection with an initial public offering on Nasdaq in the US of up to 25.3 million Class A ordinary shares.
Whistleblowing in Luxembourg download
Whistleblowing is the process of reporting wrongful, unethical or unlawful behaviour or misconduct internally or externally, i.e. to a third-party organisation.
Claim for cease and desist against sending unrequested ‘tell a friend’ recommendation emails via a recommendation function download
The Federal Supreme Court has found that a claim for cease and desist can be asserted against the company that provides a recommendation function at its webpage.
Governance News — 26 November 2013 download
Governance News from Minter Ellison summarises the top headlines in corporate governance this week.
Appleby has hired Orla Tynan as a trainee advocate in the Isle of Man litigation and insolvency team and Alicia Cain to the Isle of Man corporate and commercial team.
Naomi Rive, a partner from Appleby, has been listed in the 2014 Top 50 Most Influential Offshore Professionals list, which has been compiled by eprivateclient.com.
Taylor Wessing has launched ‘All Consuming Legal Insights’ — a series of short videos covering legal insights and developments in the consumer products sector.
Goodman Derrick’s technology group will be hosting Amoo Venture Capital’s start-up event on 10 December.
DLA Piper has been recognised by the BTI Consulting Group in its 2014 BTI Client Service A-Team: Survey of Law Firm Client Service Performance.
Judy Lee, a parter at Appleby, has won the offshore practice area individual award at the third annual Asia Women in Business Law Awards.
Allen & Overy has launched Peerpoint, which is hoped to provide a panel of experienced lawyers available to work flexibly for Allen & Overy on a contract basis.
The Financial Conduct Authority consultation paper — regulatory fees and levies: policy proposals for 2014–15
The Financial Conduct Authority will take over the regulation of consumer credit from the Office of Fair Trading on 1 April 2014.
Pre-filing and post-filing radio licence renewal announcement for stations in New Jersey and New York download
Full-power commercial and non-commercial radio stations and LPFM stations licensed to communities in New Jersey or New York must begin airing pre-filing licence renewal announcements on 1 December 2013.
A contract for insulation work on boilers at a power station was originally granted to Kitsons in December 2010.
The claimant worked as a beauty consultant in airside duty free at Heathrow Airport and formed a limited company.
The defendant entered into an agreement with an NHS trust for seven years provided the agreement could be extended in six-month blocks for up to a further three years.
As more details of the Contracts for Difference scheme become available, Walker Morris compares some of the key risks under each scheme.
Anglia Retirement Homes has been acquired by Ravelstone Care Homes. Specialists from Shoosmiths provided advice on the property elements of the deal.
Eversheds has commented on the announcement that China and the European Union will begin talks on a landmark treaty aimed at boosting investment.
Partner Nigel Stamp believes new guidelines for e-commerce in China are an encouraging development.
The Dodd-Frank Act amended section 4a of the CEA to require the Commodity Futures Trading Commission (CFTC) to establish position limits on an aggregate basis.
More than 50 participants have attended an event hosted by Karanovic & Nikolic on the implementation of transfer pricing in Serbia.
David Savage of Eversheds has commented following news that the World Trade Organization is close to sealing the first global trade deal in more than a decade.
Shoosmiths has advised on the acqusition of Anglia Retirement Homes, which was acquired by Ravelstone Care Homes.
Stephenson Harwood has advised the trustees of JLT UK Pension Scheme on the company’s £120m buy-in agreement of its defined-benefit liabilities with Prudential.
Public companies and large private companies that have been incorporated a number of years are likely to have accumulated a number of subsidiaries, some of which will be defunct.
Caroline Atkins discusses how Australian government agencies can gain the commercial solutions they need in ICT procurement while avoiding the pitfalls of open source licence risks.
India’s Competition Act takes shape with enforcement actions and appeals: key cases, key points for international companies download
Competition law in India has begun to take shape as major enforcement actions have worked their way from initial complaint to a finding of an infringement and appeal to the Supreme Court of India.
SFX Entertainment has bought 75 per cent of ID&T, a Dutch festival promoter, for $102m in cash and stock.
DLA Piper has advised Discovery Networks Benelux on a strategic partnership with Viacom International Media Networks to launch a joint sales house called BrandDeli.
Taylor Wessing has advised the shareholders of Germany-based social media platform operator Sharewise on its acquisition by Japan-based Minkabu.
Ogier has announced that partners Steve Meiklejohn and Philip Le Cornu have been included in Private Client Practitioner’s Top 50 Most Influential list.
KWM has advised Pacific Asset Management Co (PAMC) on setting up an asset-backed scheme for a special funding project through raising insurance funds.
Hogan Lovells and South African law firm Routledge Modise have announced the approval of their respective partnerships to combine their firms.
Hogan Lovells has announced that partners Lourdes Catrain, Michael Mason and Neal Katyal have been named on this year’s Law360 MVP of the Year list.
Eversheds’ Michelle T Davies has been named as the sector’s Woman of the Year at the Middle East Solar Energy Association’s annual solar awards presentation.
Turnover is £608m, up 7.5 per cent on the same period last year (£566m). The results reflect a steady improvement in trading conditions in most markets.
DLA Piper has represented northern Virginia-based CustomInk, an online T-shirt company, in a $40m (£25m) investment by private equity fund Revolution Growth.
Conyers Dill & Pearman has provided Cayman legal advice to Montage Technology Group in connection with an IPO on NASDAQ Global Market.
Conyers Dill & Pearman has provided Bermuda legal advice to Essent Group. This was the first IPO of a home mortgage issuer in nearly 20 years.
Appleby acted as Cayman counsel for JC Group Holdings in relation to its listing on the Growth Enterprise Market of the Hong Kong Stock Exchange on 21 November 2013.
Appleby acted as Cayman counsel for China Success Finance Group Holdings in relation to its listing on the Main Board of the Hong Kong Stock Exchange on 13 November 2013.
The FCA has published a consultation paper on its regulatory approach to crowdfunding. This briefing sets out how the CP will affect firms that operate crowdfunding platforms.
Regulatory risk update: online sales restrictions under scrutiny of European Antitrust Authorities download
Competition authorities in Europe are clamping down on restrictions or bans on online sales, especially sales over internet platforms such as Amazon and eBay.
State-sponsored GMO-labelling efforts faced defeat in Washington State’s November 2013 election.
The place of supply rules determine where businesses are obliged to register, collect and remit VAT due on their supplies and in which member state.
The Court of Appeal for Bermuda has delivered an important judgment about the jurisdiction of the Bermuda court to assist foreign liquidators by ordering the production of documents by persons in Bermuda.
There is no accepted formula for dealing with many of the issues that arise in negotiating a joint venture.
DLA Piper has advised as project legal counsel on the implementation of the first standardised online Intellectual Property Agreement Guide project.
DLA Piper has advised the Cabinet Office on the creation of SSCL, a joint venture between HM Government and Steria.
Mark Jones will be joining Hogan Lovells’ antitrust, competition and economic regulation (ACER) practice as a partner in the London office.
Shoosmiths has helped a holiday park operator complete the sale of its entire issued share capital in a deal worth £172m.
Walker Morris has advised InTechnology on the sale of its subsidiary InTechnology Managed Services to Redcentric for £65m.
The UK government maintains its drive to promote industrial and provident societies and staff mutuals with the publication of a recent consultation on IPS reforms.
New York insurers’ investments in firms engaged in Iranian energy sector activities treated as ‘nonadmitted’ download
New York has enacted Chapter 481 of the Laws of 2013, which adds a new section 1415 to the New York Insurance Law effective 11 February 2014.
Annual DTV ancillary/supplementary services report due for commercial and noncommercial digital television stations download
All commercial and noncommercial educational digital television broadcast station licensees and permittees must file FCC Form 317 by 2 December 2013.
Appleby Guernsey has announced the appointment of senior funds and finance lawyer Kate Storey, who has joined as counsel.
Mills & Reeve has advised PNC Business Credit on the provision of an asset-based lending facility to support the £15.9m management buyout of Virgin Wines.
The SEC has voted unanimously to propose Regulation Crowdfunding, the rules related to the offer and sale of securities through crowd-funded private offerings.
Through new legislation, we can read the the China Securities Regulatory Commission’s attitude regarding path selection on the reform of the asset-management business.
China’s Anti-Monopoly Law: review of merger control and merger remedies regime in China from 2008–13 download
This article presents an overview of the merger control regime, in particular the merger remedies regime in China from the perspective of practitioners.
According to statistics released by China’s Ministry of Commerce, Chinese outbound investment will continue its robust upward trend during the latter half of 2013.
King & Wood Mallesons has advised Goldenmars Technology Holdings on its successful listing on the GEM Board of the Stock Exchange of Hong Kong on 9 September.
KWM has acted as Australian counsel for JP Morgan and a syndicate of banks providing senior debt financing to support the acquisition of Echopass.
This is the first of four articles summarising the general duties and potential liabilities of a director of an English private company (which is not in a group with a PLC).
This is the second of four articles summarising the general duties and potential liabilities of a director of an English private company (which is not in a group with a PLC).
It has been reported that Germany will introduce legislation requiring German companies to allot 30 per cent of their non-executive board seats to women from 2016.
This is the third of four articles summarising the general duties and potential liabilities of a director of an English private company (which is not in a group with a PLC).
Commenting as two new companies plan to list on AIM, Eversheds believes the listings are indicative of wider comfort with the regulatory regime.
This article provides guidance for companies offering internship programmes when considering whether or not to pay NMW.
Emma Chadwick, head of litigation at Winckworth Sherwood, has written an article for Facilities Management Journal entitled ‘Combating squatters’.
Wragge & Co and Buck Consultants have announced a joint initiative aimed at assisting SMEs to fulfil their automatic enrolment obligations.
Incubators are not often commonly associated with corporates or business enterprises, yet young companies can benefit greatly from a period of ‘incubation’.
This is the fourth of four articles summarising the general duties and potential liabilities of a director of an English private company (which is not in a group with a PLC).
DLA Piper has announced that Dr Michael Burg has joined the firm’s corporate practice as a partner in the Cologne office.
Hogan Lovells has expanded its Los Angeles office with the addition of a long-standing corporate transactional team.
Guy Flynn, chair of DLA Piper’s Maryland real-estate practice, has been honoured with a 2013 Leadership in Law award by The Daily Record.
Goodman Derrick has received recommendations in all of its core commercial practice areas from Chambers & Partners and The Legal 500 in 2013.
Should your company reach out to Silicon Valley? If so, what do you need to know?
King & Wood Mallesons has advised the Transurban Group on its acquisition of all of the senior secured debt exposure of Sydney’s Cross City Tunnel (CCT).
The 2013 Legal Security Forum, organised by Dacheng, took place at the Capital Hotel in Beijing on 27 October 2013.
Appleby has acquired two of Coutts’ trust businesses as part of its strategy to grow its fiduciary and administration business.
Farhaz Khan has been identified by Legal Week as one of the 10 ‘most acclaimed young barristers making their mark’ at the commercial chancery bar.
Lawyers from DLA Piper in Kyiv have contributed to the World Bank’s 2014 Doing Business report, looking at the local market in Ukraine.
Eversheds has advised workforce payment solutions provider FleetCor Technologies on the acquisition of Epyx, a technology solutions provider to the fleet sector, from HgCapital.
Appleby has held a seminar entitled ‘Directors — do you know your duties?’, which was held on 15 November at the Old Government House Hotel, St Peter Port, Guernsey.
Minter Ellison has advised Dick Smith Holdings, which has announced an IPO of ordinary shares and a listing on the ASX.
This article summarises some of the technological innovations retailers are adopting to survuve in the tough economic market and their legal risks and implications.
Businesses should be aware that there is more than institutional change afoot when the new Competition and Markets Authority comes in on 1 April 2014.
Shoosmiths has provided advice to former CEO of Fitness First Colin Waggett for the launch of his new indoor cycling concept, Psycle London.
Companies legislation in Myanmar is set to become more investor-friendly – and it needs to
Eversheds has advised Allied Glass on a tertiary buyout backed by CBPE Capital.
KWM is acting for Credit Suisse (Australia), JP Morgan Australia and Macquarie Capital (Australia) on McAleese Group’s IPO of AUD166m and listing on the Australian Securities Exchange.
Ince & Co has advised the majority shareholders of Interactive Ideas, an enterprise software distributor, on the sale of its business to Storit
This update from Ince & Co highlights recent relevant court decisions that raise points of significance for its readers.
Conyers Dill & Pearman has advised International Housewares Retail Company regarding its HKD600m listing on the main board of the Hong Kong Stock Exchange.
The Dublin office of Eversheds has advised on the takeover by Endo Health Solutions of Paladin Labs Europe.
The FCA has published its long-awaited response to consultation paper 12/25 entitled ‘Enhancing the effectiveness of the Listing Regime’.
Despite 20 states allowing the use of medicinal marijuana and two more allowing recreational marijuana use, employers remain unaffected.
In recent months we have seen a resurgence of legislative efforts — this time at the state level — that may change the playing field.
Yasmin Prest won her landmark divorce ruling when the Supreme Court ordered Mr Prest’s companies to transfer to her a number of properties as part of her lump-sum award.
A landlord and a tenant generally have opposing objectives when negotiating a new commercial lease.
Founder and lawyer
We advise on all aspects of company life, from the establishment of new businesses to the creation of inter-business relationships.
Partner Greg Hammond believes the deal brings potential gains for both parties.
Nabarro has released the November issue of its financial sector update.
Real-estate update — November 2013 download
Nabarro has reased its real-estate update for November 2013, which discusses HS2 and how retailers are using technology and sustainable urban drainage systems.
The core content of the innovation within the SHFTZ relates to reform in the financial area.
Luxembourg isn’t just a financial centre. Over the past few years, Luxembourg has made significant efforts to diversify its marketplace and to ensure its attractiveness as one of the leading countries in Europe in IT/IP and e-commerce.
The EU and the US are entering the second round of the Transatlantic Trade and Investment Partnership (TTIP) talks in Brussels.
DLA Piper has been advising Equinix, a supplier of data centre services, on the acquisition of the Kleyer 90 Carrier Hotel in Frankfurt.
DLA Piper has been ranked as a leading firm in the 2014 edition of World Tax, a directory of the leading tax advisory firms.
Changes to Belgian law on late payment in commercial transactions to enhance protection of creditors download
Changes to Belgian law on late payment in commercial transactions should enhance protection of creditors.
Appleby has reported stabilised offshore M&A activity and continued high levels of IPOs in Q3 2013, which the firm highlights in its latest Offshore-i Report.
Allen & Overy will be presenting a client seminar on 10 December called ‘Contracting with foreign states or state-owned entities: what are the risks and how can they be managed?’
Appleby has published the sixth edition of Offshore-i, which provides insights into the mergers and acquisitions activity going on in the major offshore markets.
The proprietor owned the trademark CATWALK registered since 1995. In 2010, an application was filed to revoke this word mark on grounds of non-use.
The latest decision concerns a dispute over Zynga’s launch of an online game in January 2012: ‘Scramble with Friends’.
In Asos v Assos, the High Court reviewed the approach to be taken to many issues that arise frequently when considering trademark conflicts.
Nissan applied in Austria for the word mark ‘Primera’ for automobiles in 2008.
There was a likelihood of confusion between the figurative mark ZOOSPORT and the earlier figurative mark ‘Zoot (or Zooz) sports’.
Setting a helpful precedent for famous logo brands, Lonsdale has won a UK trademark opposition against a ‘look-alike’ logo at the English High Court.
This judgment highlights the overriding objective of the IPEC, which is to assist small and medium enterprises in resolving their intellectual property disputes at low cost.
Allen & Overy has succeeded in the category of corporate law and has also been named Law Firm of the Year 2013 for Best Client Service.
Hogan Lovells has advised Astronics in relation to the acquisition of French company PGA Electronic.
Governance News — November 2013 download
Minter Ellison’s Governance News provides a synopsis of its weekly summary of corporate law and governance developments in Australia and overseas.
In UPMS v Fort Gilkicker, the High Court had to decide whether common law recognises the concept of double derivative actions.
The right for individuals to gain access to personal information that organisations hold about them is a core requirement of most data protection laws.
The access right is the right for an individual to ask whether an organisation holds and/or processes personal data relating to the individual and enables the individual to obtain a copy.
Organisations can find themselves drowning under the weight of subject access requests (SARs) if they are not adequately prepared.
King & Wood Mallesons (KWM) has secured a place on the Ministry of Commerce (MOFCOM) of China’s inaugural legal panel.
John McKendrick of Outer Temple Chambers has successfully acted for EDI in the case of DCAS Business School v EDI Plc.
The Financial Conduct Authority (FCA) has published a further consultation paper containing updated proposals on changes to the UK Listing Rules.
The European Commission is considering amending the EU Merger Regulation (EUMR) to allow it also to review certain acquisitions of non-controlling minority shareholdings.
A story in the Financial Times has highlighted the emerging change in the way businesses address the reputational risk of their impact on society and the environment.
Pan-European e-commerce compliance download
Taxing digital content download
Neil McKnight, a senior associate in Taylor Wessing’s tax group, summarises some of the tax issues faced by businesses distributing content across borders.
Mills & Reeve has announced the appointment of Gayle Curry as a commercial partner in the health team. Curry joins from Morgan Cole.
King & Wood Mallesons has advised China Huirong Financial Holdings on its successful listing on the main board of the Hong Kong Stock Exchange on 28 October.
King & Wood Mallesons has acted for CBA Equities as lead manager and underwriter on the IPO of Affinity Education Group.
Hogan Lovells’ guide to the eligibility requirements and continuing obligations of admitting securities to the premium, standard and high-growth segments of the main market and AIM.
Parmijit Singh from Eversheds has commented on a move by regulators to remove trans fats from the US diet.
On 22 October 2013, the European Food Safety Authority published guidance on the renewal of the authorisation of feed additives.
The European Commission has published its work programme for 2014, outlining the legislative and policy initiatives that it will focus on next year.
On 25 October 2011, the European Parliament and the Council adopted Regulation (EU) No 1169/2011on the provision of food information to consumers.
With a delegated act, the European Commission has issued a draft rule amending Regulation 1169/2011 with regard to the use of the term ‘nano’ to describe food additives.
The European Commission has adopted implementing rules for applications concerning the use of generic descriptors under article 1(4) of Regulation (EC) No 1924/2006.
Conyers Dill & Pearman has advised Avolon, an aircraft leasing group, on the Bermuda law aspects of its $636m asset-backed securitisation for Emerald Aviation Finance.
Following the entry into force of some risk mitigation techniques, the second obligation under EMIR, i.e the reporting obligation, will start in February 2014.
M&A Index: Q3 2013 download
While dealmaking remained generally quiet in most markets in Q3, there are signs that capital flows are shifting from emerging to more mature markets.
In May 2006, the Alexandros T sank off the shore of South Africa; her owners commenced proceedings in the Commercial Court against the vessel’s insurers for an indemnity.
NCTM has a well-established practice providing tailor-made legal advice on a wide range of customs