WFW opts for piecemeal growth

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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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Rolling news

Regular visitors to ­Tulkinghorn’s page will recall that a few weeks ago he reported the plight of Thomas Eggar ­managing partner Tony Edwards, or “fat lawyer on a hike” as he has labelled himself. Edwards had a plan to walk from the South Downs to Lewes and then to Brighton in 24 hours to raise […]

New tactics

As home to many offshore funds, Guernsey has amended companies law to take account of the troubled economic times. Mark Helyar reports Current market conditions are driving numerous offshore reconstructions, mergers and liquidations of investment funds, portfolios and structured finance products. Declining investment returns and the refocus of some listed investment funds has also led […]

Clydes switches to merit-based pay

Clyde & Co has shaken up its pure lockstep to a three-gated remuneration ­structure based on merit. The ;firm’s ;previous ­system began with 46 ­profit-sharing units and ended with 100, supplemented by a 5 per cent performance-related element. The new system, however, sees ­partners move through gates every three years, reaching plateau within 10 years. […]

Shearman appoints Euro finance head

Shearman & Sterling has appointed structured and ­leveraged finance partner Clifford Atkins to head the firm’s European finance group, taking over from Anthony Ward. Ward will step down from 1 August to focus on his posts as London managing partner and member of the global policy committee.

Barristers flag up fees dilemma

Criminal defence set 25 Bedford Row has warned that the payment system for publicly funded ‘one case, one fee’ (Ocof) work is ­putting too much power in the hands of solicitors. Chambers administrator Jacky Chase told The Lawyer that the scheme results in the fees going to the first advocate in the proceedings, with that […]

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