Royal Decree Law 24/2012 addresses restructuring and termination of Spanish credit entities
The Spanish Council of Ministers has approved the Royal Decree Law 24/2012 , for the restructuring and termination of Spanish credit entities. This RDL entered into force on 31 August 2012. The approval of the RDL 24/2012 is the result of implementing the recapitalization plan of the Spanish financial system, which the Spanish government agreed to in its Memorandum of Understanding with the Eurozone (the Memorandum of Understanding). With this law, it also anticipated that Spain has implemented the major requirements of the EU Crisis Management Directive regarding the recovery and resolution of credit institutions.
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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.