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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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Camerons in hunt for UK merger firm

CMS Cameron McKenna has set up a taskforce with the aim of finding a firm it can merge with in the UK. Managing ;partner ­Duncan Weston (pictured) and senior partner Richard Price have been tasked with finding a ‘pearl’ (a small but profitable boutique ;practice) ;to expand its UK business. Following a meeting last year, […]

Macfarlanes opens new jobs consultation

The total number of legal jobs under threat in The Lawyer’s UK 200 is 2,071 following the news that Macfarlanes has launched a redundancy consultation with 14 members of staff. Seven of these are real estate lawyers; the other seven are corporate and real estate secretaries. Meanwhile, redundancy consultations have ­finished at Bircham Dyson Bell, […]

O’Melveny taps private equity house for Asia hire

O’Melveny & Myers has hired a former director of private equity house Actis to bulk up its Asia practice. Dean Collins will join as partner in the firm’s investment funds and securitisation practice group and will be resident in O’Melveny’s Singapore office. O’Melveny Asia head Howard Chao said: “Dean’s arrival in Asia gives our formidable […]

Paul Weiss: revenue and PEP up

Paul Weiss Rifkind Wharton & Garrison has announced revenue growth of 6.3 per cent for the 2008 financial year. The US firm posted revenues totalling $692m for 2008, up from $652m in the 2007 financial year. Average profit per equity partner (PEP) increased by 2.3 per cent, up from $2.6m in 2007 to $2.7m last […]

A&O becomes second magic circle firm to make layoffs

Allen & Overy (A&O) has emerged as the second magic circle firm to announce a redundancy consultation, with 10 lawyers in its Hong Kong office expected to lose their jobs (TheLawyer.com, 16 January). The news comes just over a week after Clifford Chance admitted that up to 80 of its London lawyers would be made […]

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