The EU imposes further sanctions on Iran
On 15 October 2012 the Council of Ministers of the European Union approved a new round of sanctions against Iran. These bring the EU regime closer to the punitive sanctions that are in force in the United States. EU foreign ministers have further made it clear that sanctions will continue to tighten until Iran engages with the international community to address concerns regarding its accelerating nuclear programme. This Client Alert provides a short summary of the recent sanctions developments in the EU.
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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.