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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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Lehman

Litigation heavyweights act on Lehman Brothers administration costs battle

Freshfields Bruckhaus Deringer, Linklaters, Cleary Gottlieb Steen & Hamilton and Kirkland & Ellis are among the firms to have advised on a legal costs dispute between creditors of the Lehman Brothers International collapse. The full line-up of law firms includes Ropes & Gray, Morrison & Foerster and Michelmores. Lehman Brothers creditor Wentworth Sons argued that […]

lady justice

Brick Court and Skadden step in for Abramovich in $1.5bn oligarch battle

Chelsea Football Club owner Roman Abramovich is facing an expedited legal battle against two other Russian oligarchs, which is set to hit English courts this year. Brick Court’s Danny Jowell, Alan Roxburgh and Richard Eschwege are representing Abramovich, instructed by Skadden Arps Slate Meagher & Flom. The dispute is over the Chelsea owner’s intention to […]

Bank of England

Slaughters and A&O advise in £5bn bank buyout

Slaughter and May and Allen & Overy (A&O) have advised in a £5.3bn asset sale from UK Asset Resolution Limited (UKAR) to a consortium of investors, including bond fund Pacific Investment Management Co (Pimco). Slaughters corporate partner Guy O’Keefe and finance partner Oliver Storey instructed UKAR, which was formed by the UK government at the peak of […]

London

Freshfields and Kirkland face off in first PE deal since Higgins’ exit

Kirkland & Ellis partner David Higgins has made his lineup debut at his new firm, supporting the team on a deal opposite his old shop Freshfields Bruckhaus Deringer. The deal saw Kirkland act for private equity house Pamplona on its sale of European pet food manufacturer Partner in Pet Food (PPF) to Cinven. Kirkland led […]

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