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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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A&O nets £10m fees from Drax

Allen & Overy (A&O) has billed in excess of £10m for last year’s rescue of Drax Holdings, reaping nearly 80 per cent of the total over a six-month period. The magic circle firm had around 150 lawyers acting for the senior lenders on the reorganisation of the owner of Western Europe’s largest coal-fired power station, […]

IBA defines conflicts for arbitrators

The International Bar Association (IBA) this week published its Guidelines on Conflicts of Interest in International Arbitration. Seven general standards are set out in the guidelines, placing responsibility on arbitrators to research and disclose relationships between them or their organisation and any parties to the dispute. Parties to the dispute are also required to disclose […]

Winckworth Sherwood breaks off healthcare unit

Westminster law firm and parliamentary agent Winckworth Sherwood is splitting off its healthcare group, as the head of the practice leaves to set up a new outfit. The firm decided to close down healthcare in order to concentrate on its core clients. Simon Eastwood head of the group at Winckworth Sherwood, is establishing his own […]

Parlour case results in victory for Clintons

Clintons scored a high-profile success last week after the Court of Appeal ruled in favour of its client Karen Parlour in her divorce claim against her ex-husband Ray Parlour. The court ruled that the Arsenal footballer must pay Karen Parlour a third of his future income in a landmark ruling that will change the face […]

Mid-sized firms take the City by storm as magic circle stumbles

– Magic circle records average profit drop of 10 per cent; – DLA overtakes Slaughters and Herbert Smith to eighth place; – Shoosmiths, BLP, Osborne Clarke post biggest profit rises Provisional figures for 2003-04 confirm that the magic circle suffered significant turnover and profit reductions last year, whereas many mid-market players rebounded. Profits and turnover […]

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