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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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DWS steers BAR to victory in F1 dispute

Denton Wilde Spate (DWS) secured a win for the BAR-Honda Formula 1 (F1) team last week after the F1 Contracts Recognition Board (CRB) ruled that F1 driver Jenson Button must fulfil his contract with BAR. DWS advised BAR on the CRB hearing in Milan, while Maxwell Bately’s motor sports division advised Button, who had been […]

B&M, BLP, CMS scoop Accenture panel slots

Baker & McKenzie (B&M), Berwin Leighton Paisner (BLP) and CMS Cameron McKenna have won lucrative places on the panel of management consultancy and technology services giant Accenture. The lucky trio join incumbents Allen & Overy (A&O), Clifford Chance and Field Fisher Waterhouse (FFW) on Accenture’s preferred supplier list, which will be reviewed again in three […]

CC bags Allianz instruction as Freshfields is conflicted

Clifford Chance’s London office has had its first instruction from German private equity firm Allianz Capital Partners thanks to a conflict at Freshfields Bruckhaus Deringer. Allianz-backed nursing home business Four Seasons narrowly missed out to trade buyer Barchester on last week’s shotgun £525m auction of Westminster Healthcare. Allianz used Freshfields’ London office on the corporate aspects of its […]

Cleary Gottlieb promotes New York partners as it turns LLP

Cleary Gottlieb Steen & Hamilton has announced its latest round of partner promotions, making up six lawyers into the firm’s equity. At the same time the firm is moving to limited liability status, effective from 1 January 2005. Five of the new partners hail from the firm’s New York base. Of those, two are tax […]

The sweet smell of distress sees vulture funds eye Sainsbury’s

The supermarket giant is in trouble and the bondholders are twitching nervously. By Helen Power Distressed M&A is increasingly vogue in Europe. Since the turn of the century it has spawned an ever-growing band of bondholder activists, hedge funds, restructuring management consultants and hordes of US law firms still piling into London to service them. But four years on, […]

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