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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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The main cause

Tulkinghorn is delighted to report that, on 23 May 2006, The Variety Club will be hosting its annual Legal Gastronomic Evening at The Dorchester on London’s Park Lane. The evening, organised by the club’s legal committee, will raise vital funds for the Variety Club to continue its invaluable work supporting sick, disadvantaged and disabled children. […]

McClures lures property team from Ledingham

Ledingham Chalmers has again been rocked by a Scottish rival, with McClure Naismith taking a property team following McGrigors’ stunning raid on Ledingham. Last week, Ledingham’s two-partner Edinburgh property and social housing team, led by Philip Sim and Derek Hogg, moved to McClures. This comes after McGrigors’ hire of the Aberdeen energy team and the […]

ACQUISITION FINANCE UPDATE

The coup of the month was Herbert Smith bagging the £3.55bn debt mandate on PSA International’s bid for P&O. Partners Clive Barnard and Ewen Fergusson are advising Goldman Sachs, Royal Bank of Scotland and UBS after Allen & Overy (A&O), Ashurst, Clifford Chance and Linklaters were conflicted out. A nice way to kick off the […]

Hammonds to consult on second lock-in

Hammonds’ management is considering a second lock-in of partners when the current one expires at the end of June. A paper has been presented to the partnership board, but no conclusions have been reached. Managing partner Peter Crossley said: “We’re considering a number of options. It’s all about ensuring commitment, and it’s a hearts and […]

Thompsons averts strike with 4 per cent pay hike

Trade union firm Thompsons has reached a pay agreement with fee-earners and staff, ending the threat of strike action. Thompsons HR coordinator Joanna Stephens told The Lawyer that the firm and staff had agreed to a 4 per cent wage increase, backdated to 1 October 2005. GMB members, including solicitors, legal executives and administrative managers […]

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