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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 […]

Recommended

Osborne Clarke’s financials tumble

Bristol-headquartered Osborne Clarke has seen significant falls in both turnover and profitability during the last financial year. The firm’s 2008-09 results show that turnover dropped by 12 per cent, from £95.3m to £84m, while average profit per equity partner plunged 36 per cent to £352,000. Managing partner Simon Beswick put the fall down to adverse market ­conditions, adding: […]

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Camerons, DLA square up to Bulgarian court

Law Society joins UK firms’ fight against fines based on protectionism CMS Cameron McKenna and DLA Piper have vowed to fight the protectionist stance taken by local ­Bulgarian law firms after becoming embroiled in a turf war over practising in the country. Camerons and DLA Piper were among a group of four international firms fined by Bulgaria’s Competition […]

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PEP falls 21 per cent at Pannone as revenue nudges up

Pannone brought in turnover of £52.5m in the 2008-09 financial year, a three per cent increase on the total of £50.8m for 2007-08. The firm’s profit margin has dropped from 27 per cent last year to 22 per cent this year. As a result average profits per equity partner (PEP) have fallen 21 per cent […]

2Birds’ expansionist strategy sees fee income rise by 30 per cent

Bird & Bird has announced a 29.7 per cent increase in gross revenue for the 2008-09 financial year. David Kerr Total turnover at the technology and IP-focused firm grew to £186.3m from £143.7m for the previous year. The firm said that 9 per cent of the increase in revenue could be put down to the […]

People moves

Richard Dinning (left) has been appointed as chairman of DMH ­Stallard, taking over from Derek ­Sparrow. Dinning was previously a real estate finance partner at Addleshaw Goddard. Move of the week His appointment comes as DMH Stallard looks to implement its ­latest three-year strategy, ­positioning itself as a “better value” alternative to magic circle and […]

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