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Latest Briefings

New Act on the Control of Investments Detrimental to the Interests of Hungarian National Security

The Hungarian Government recently adopted Act no. LVII of 2018 on the Control of Investments Detrimental to the Interests of Hungarian National Security (the “Act”). Previously we wrote about a similar legislative proposal which aimed at establishing a similar control mechanism. However, the Act has a more sophisticated approach on the control and approval procedure […]

Health and safety at work in Romania: What companies need to know

Failure to take or observe the mandatory measures for health and safety at work may entail, among other types of liability (e.g. civil, administrative), potential criminal liability for employers. The Romanian Criminal Code (the “RCC”) provides for two offences which sanction such failure: i) failure to take the mandatory measures for health and safety at […]

Switzerland: Insolvency law, policy and procedure

By Daniel Hayek and Laura Oegerli Statutory framework and substantive law Swiss restructuring and insolvency proceedings are mainly governed by the Swiss Debt Enforcement and Bankruptcy Law (DEBA), which entered into force in 1892. A number of other laws and ordinances further regulate special aspects of restructuring and insolvency proceedings, such as specific provisions according to […]

Czech Republic: Office for the Protection of Competition gets tougher

In April 2018 the Office for the Protection of Competition adopted new guidelines on the method of setting fines for competition law infringements,(1) noting that the need for a revision of the previous guidelines had emerged in the wake of developing case law, as well as amendments to the Act on the Protection of Competition. The […]

FOS expansion to SMEs – near-final rules published

By Paul Gair The Financial Conduct Authority yesterday released its policy statement on SME access to the Financial Ombudsman Service (FOS), setting out its near-final rules for amending the compulsory jurisdiction to include new definitions for “small businesses” and “guarantors”. At the same time, it has released a new consultation paper detailing proposals for increasing […]

Recommended

Osborne Clarke cancels drawings

Osborne Clarke has taken the step of cancelling its partners’ quarterly drawings as a precautionary measure against the economic downturn The measure applies to all equity partners across the board, and if evened out over the course of the year, it would equate to some 20 per cent of a partner’s total earnings.Senior partner Leslie […]

Deals summary

Baker & McKenzie’s London and Paris offices (Eric Lasry, Adam Levin) advised Platinum Equity on its acquisition of the European operations of Alcatel’s enterprise distribution and services business. Alcatel was advised in-house. Field Fisher Waterhouse (Charles Whiddington, Andrew Evans) advised Teradyne on international merger clearance following its acquisition of technology company GenRad. Merger reviews were […]

Freehills saves NAB from £20bn disaster

Australian law firm believed to have charged £14m in robust defence of bank Freehills has successfully defended the National Australia Bank (NAB) in a claim for A$56bn (£20.2bn) which has gripped the nation. Freehills is believed to have pocketed an estimated A$40m (£14.4m) in legal fees for the defence.NAB was sued by inventor and small […]

DEAL OF THE WEEK: Freshfields and A&O in ICI's £808m share issue

ICI’s favoured law firms Freshfields Bruckhaus Deringer and Allen & Overy (A&O) are acting on the chemical company’s discounted share issue, worth £808m, which will raise money to reduce the company’s £2.9bn debt.ICI has retained Freshfields to advise it on the issue. A&O has been instructed by established clients Goldman Sachs, UBS Warburg and Merrill […]

Reed Smith management rejig sees two arrivals

Reed Smith Warner Cranston has appointed Mark Dembovsky as chief strategy officer and David Duckhouse as chief finance officer in a shake-up of the firm’s management The management review has been seen as a way to cement last year’s merger between UK firm Warner Cranston and US-based Reed Smith. Both Dembovsky and Duckhouse come to […]

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