New European regulation clarifies the status of extra-European bilateral investment treaties
On 12 December 2012, the European Union issued Regulation (EU) No. 1219/2012 (the Regulation) establishing transitional arrangements for bilateral investment treaties (BITs) between Member States and third countries. The Regulation, which entered into force on 9 January 2013, provides investors with some clarity regarding the status of BITs entered into by EU Member States and non-EU States following the Lisbon Treaty.
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Jurisdiction of the Hong Kong Courts re winding up and unfair prejudice petitions — offshore companies
Hong Kong law contains a number of provisions designed to protect the interests of minority shareholders, including the “unfair prejudice” remedies under section 168A of the Companies Ordinance and the Ordinance’s “just and equitable” winding-up provisions.
The EU’s banking union proposals, consolidating the European regulatory supervision of credit institutions
On 12 September 2012 the European Commission adopted legislative proposals, including a draft EU Regulation, to establish a single supervisory mechanism for banks which is to be led by the European Central Bank.