Abandon ship — can a company have no appointed directors?

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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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Norton Rose Fulbright

Norton Rose Fulbright overhauls maternity provisions

Norton Rose Fulbright has updated its maternity and paternity policies, following a survey of all women who have taken maternity leave from the firm over the past five years. The new policy, which went live on 1 May 2014, sees all London employees who have been at the firm for more than one year receive […]

No5 Chambers teams complete Midland & London Legal Walks for charity

No5 Chambers has raised £965 after entering teams in the Midland & London Legal Walks, which took place on 19 May. So far a total of £360 has been raised for the Midland team and £605 for the London team. Barristers and staff took part in both 10km walks to raise funds for the Midland Legal […]

Barrister S Chelvan’s DSSH model for LGBTI asylum claims is internationally recognised

Throughout May, No5 Chambers barrister S Chelvan has provided training across Europe on his DSSH (difference, stigma, shame and harm) model for credibility assessment in LGBTI asylum claims. From 5–7 May, Chelvan provided training in Madrid to more than 100 delegates from NGOs as part of the CREDO project, co-organised by the ELENA network and the Hungarian Helsinki Committee. […]

DLA Piper acts for Transfield Services on global refinancing

DLA Piper has advised Transfield Services on a major global refinancing. Melbourne-based partner Bill Glover led the Australian team that advised Transfield Services on the issue and sale of $325m (£193m) senior unsecured guaranteed notes in the US and international capital markets. Fellow Sydney-based partner Hugo Thistlewood led the team that advised Transfield Services on its […]

Final word on banking conduct remains with FCA and PRA, says Eversheds

Eversheds partner Andrew Henderson has said that the final word on banking conducts remains with the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), despite the launch of the UK Banking Standards Council. Henderson said: ‘The contents of the Banking Standards Review are not unexpected and its aims laudable. The extent to which […]

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