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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 […]

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Financing

Allen & Overy advised a group of financial institutions which provided investment into the $262m (£164m) construction of the vessel The World of ResidenSea. The firm represented Westdeutsche Landesbank Girozentrale and The Centre Group, a subsidiary of The Zurich Financial Services Group. on the project. Clifford Chance advised on the shipbuilding contract as well as […]

De Heng launches first Chinese office in Europe

Chinese law firm De Heng is opening an office in Holland this week – making it the first-ever Chinese firm to set up in Europe. The firm aims to offer multinational companies a seamless service in dealings between the East and West. Beijing-based De Heng plans further westward expansion in the near future, including an […]

Quote of the week

“In retrospect it would have been better for the Attorney-General [Janet Reno] to appoint someone else.” – Kenneth Starr’s candid admission that his role as independent counsel in the Monica Lewinsky case was a mistake, during an interview with CNN. Starr is now returning to Chicago law firm Kirkland & Ellis, and will teach law […]

Going global in Germany

Most players in the German legal market have known that internationalisation has been on its way for two or three years. It has simply been a question of when it would arrive. Last year, most leading practices were being wooed by just about every major UK firm, and 1999 was decision time. In a couple […]

Wragge & Co gives lawyer key IT role

Birmingham heavyweight Wragge & Co has taken the unusual step of appointing a lawyer to head up a strategic development unit to improve the firm’s use of IT, a position normally reserved for IT experts. Led by lawyer Derek Southall, the five-person unit – made up of lawyers and IT staff – is backed by […]

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