Postcard from… Shanghai

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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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Garrigues sets out expansion plans and bags International Firm of the Year award

Spanish firm Garrigues was crowned International Firm of the Year at the The Lawyer Awards two weeks ago – the first non-US firm to win the prize. With revenue of €334.3m (£273.6m) for 2008-09 the firm topped the table of Continental European law firms by revenue for the second year running after experiencing growth of 12.6 per cent. Co-managing […]

Pinsents sails for Singapore

“We sail tonight for Singapore/We’re all as mad as hatters here,” sang Tom Waits back in the 1980s. Now, we don’t know if Pinsent Masons senior partner Chris Mullen is a fan of the gravely voiced troubadour, but today’s news that his firm has entered into a joint venture with local player MPillay (see story) […]

Mishcon experiences another tough year for PEP

Mishcon de Reya has posted another sharp decline in average profit per equity partner (PEP), with the firm’s PEP now having dropped 39 per cent in two years. Mishcon’s PEP was £450,000 in 2009-10, down from £575,000 the year before. In 2007-08 the firm’s PEP had been £740,000. Managing partner Kevin Gold said the firm’s […]

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Links soldiers on in US flatlands

Stagnant US turnover fails to dissuade UK giant from trying to plunder American riches While Linklaters’ global revenue fell by 8 per cent in 2009-10, its US turnover remained flat at around £70m, according to the firm’s US co-managing partner Larry Byrne. The US market has been a ­notoriously tough nut to crack for the […]

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Dewey, Links lead on Irish listing of Russian bank

Dewey & LeBoeuf and Linklaters have scored leading roles on the debut note listing of state-owned Russian bank Vnesheconobank (VEB). The $1bn (£660m) Irish listing is the first part of a $30bn loan participation notes (LPN) agreement, with a second rouble-denominated listing to match the dollar offering believed to be ready to launch. Corporate partner Louise Roman Bernstein led the […]

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