New legal and tax regime for the Spanish REITs
On 27 December 2012, the Spanish government approved Law 16/2012, which provides for long-awaited reform of the current legal and tax regime for Real Estate Investment Trusts. Such a regime has been in place since 2009, when the Spanish government passed Law 11/2009, but in the three years since its enactment, very few market participants have chosen to carry out their investments in the Spanish real estate market through such trusts.
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News from The Lawyer
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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.
Analysis from The Lawyer
Shearman & Sterling is making its presence felt in the City, squaring up to magic circle firms and looking to muscle in on key relationships. Private equity house Bridgepoint is one outfit that has had its head turned by the US firm.
Imagine you’re the general counsel of London-based private equity investor BC Partners. You’re sipping on your coffee, hashing out the details of your imminent £382m investment into UK-based business publishing company Mergermarket.