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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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Pay freezes come too late for Pillsbury 12

Pillsbury Winthrop is continuing cutbacks with voluntary redundancies after freezing the salary levels of its 900 employees The firm is laying off approximately 12 permanent staff who will receive a severance package that includes $3,000 (£1,908). A spokeswoman said the firm had first approached staff about the 12 redundancy places in the summer when 15 […]

Good communication

The worst of the downturn seems to be over for Irish companies. Even more amazingly, the information, communications and technology sector is still holding up. Andrew Doyle reports There is no doubt that Irish and international venture funds have plenty of money to spend. From 1999-2001, members of the Irish Venture Capital Association (IVCA) raised […]

Dickson has collar Feltzed

Poor Alastair Dickson. As if the indignity of a £6m divorce was not enough, the founding partner of Dickson Minto has to cope with Vanessa Feltz commenting on his love life. The “Scottish divorce of the year” was widely covered by papers on both sides of the border. However, a Daily Express column from Feltz, […]

The direct approach

If directors think they can desert their sinking ship they should think again. The authorities are clamping down and are prepared to use force. Barry O’Neill reports IRELAND’S Company Law Enforcement Act 2001 introduced new and far-reaching powers to arrest directors of insolvent companies. The act, which came into force on 1 June 2002, replaced […]

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