The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
-
The separate legal entity
doctrine means that a company can sue in its own name for a wrong done to it.
Where a solvent company is unable to bring an action, its members can apply to
do so. This was set out by the courts in several long standing decisions that
set out the circumstances under which this would be allowed. This is known as
the common law derivative action. In Singapore, the Companies Act was amended
to provide for what has become known as a statutory derivative action where a
private company incorporated in Singapore is involved. However, modern
businesses are organised in groups of companies so that investors are
shareholders in a holding company and businesses are run in wholly-owned
subsidiaries. A deceptively simple question then arises - can a member of a
holding company apply to court to take out a derivative law suit in the name a
subsidiary where the member has no direct shareholding (termed a "double
derivative action")?
-
On 12 June 2013, the English Supreme Court handed down a unanimous judgment which discussed the ability of the English Family Division to treat the assets of companies wholly owned by one party to a divorce as available to that party for the purposes of ancillary relief.
-
M&A bond financing: offshore high yield and convertible bond issuance
-
On 8 April 2013, the Indonesian Investment Coordination Board ( BKPM ) issued the new BKPM Regulation
No. 5 of 2013 on the Guidelines and Procedures for Licensing and Non-Licensing
in relation to Capital Investments ( Regulation
5/2013 ), which generally deals with foreign and domestic investments in
public companies and their subsidiaries in Indonesia. Regulation 5/2013 was
promulgated in the State Gazette on 12 April 2013 and took effect on 27 May 2013.
-
A New
Governmental Proposal to Significantly Narrow the Tax Benefits for New
Immigrants and Returning Residents in Israel
-
Third party litigation funding will not infringe the laws against
champerty and maintenance and will not be contrary to the Code of 1771 -
a summary of the Royal Court's judgment in Barclays Wealth Trustees
(Jersey) Limited and Barclays Wealth Fund Managers (Jersey) Limited as
trustee and manager of the R2R Funds -v- Equity Trust (Jersey) Limited
and Equity Trust Services Limited.
-
Jersey gets ready to comply with the requirements of the EU Alternative Investment Fund Managers Directive.
-
On 30 May 2013, the European Securities and Markets Authority ("ESMA")
announced that it has approved cooperation agreements to be signed by
the Guernsey regulator, the Guernsey Financial Services Commission
("GFSC").
-
The decision analyses whether the Fund's directors were entitled to make
an in specie redemption by the transfer of assets acquired by the Fund
after the redemption payment date and in circumstances where, on an
objective basis, there were doubts as to the value of the assets.
-
ESMA approves cooperation arrangements with Guernsey
The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
-
Sayenko Kharenko - legal
counsel on the acquisition of ING's securities and custody services business by
Citibank.
Normal
0
false
false
false
RU
X-NONE
X-NONE
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Обычная таблица";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin-top:0cm;
mso-para-margin-right:0cm;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0cm;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:"Calibri","sans-serif";
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:"Times New Roman";
mso-bidi-theme-font:minor-bidi;
mso-fareast-language:EN-US;}
-
LS Horizon Limited has advised PTG Energy Public Company Limited (the " Company "),
which operates the business of distribution of petroleum products and
equipment for gas stations, including fuel selling through its PT petrol
stations, in connection with its initial public offering (" IPO ") and listing of its shares on the Stock Exchange of Thailand (" SET ").
-
Penningtons Solicitors LLP has recruited partner Maria Riccio and
associate Rupert Graham-Evans to lead its newly established pensions law
team. Working between the firm's Hampshire and London offices, they
will also support Penningtons' regional offices across Cambridge and the
South East, advising clients in the UK and internationally.
-
Matouk
Bassiouny
advised Emirates NBD PJSC on the acquisition of 100% of the share
capital of BNP Paribas S.A.E. in Egypt. The value of the transaction
amounted to USD 500 million. The Share Purchase Agreement was signed in
December 2012 and closing took place in Cairo on Sunday June 9 th
2013.
-
We
are delighted to inform you that Johanne Cox joins Matouk Bassiouny as a
Partner in the firm's Dispute Resolution group. Johanne has practiced
international arbitration in Egypt for a number of years, prior to which, she
practiced arbitration in London and Paris at leading international law
firms. She is recognized in Legal 500 (2013) as "very experienced and
knowledgeable", adding a "great dynamic" to her law firm's practice.
Johanne is a Fellow of the Chartered Institute of Arbitrators, a
Solicitor-Advocate in England and Wales, and an accredited Mediator.
-
On 07.06.2013 the Supreme Court issued its judgment in the context of
the first recourses filed by depositors and challenging the effect on
depositors' funds of the recent bank resolution measures. The judgment
is a very welcome development and should be viewed as a significant
stepping stone in the future developments of the promotion of
depositors' claims.
-
Kochański Zięba Rapala & Partners law firm is
honored to announce that it has been awarded the European Medal 2013 in the
Final of the 24th Edition of the Competition organized by the Business Centre
Club in cooperation with the Ministry of Foreign Affairs, and under the
honorary patronage of the European Economic and Social Committee.
-
Georg Fischer Ltd. (GF) signed a
share purchase agreement on 7 May 2013 to acquire majority stake in Hakan
Plastik A.S., with an option to acquire the remaining shares in following
years.
-
The Annual
General Meeting of CEWE COLOR Holding AG has approved the change the company's
legal form into a partnership limited by shares - Kommanditgesellschaft auf
Aktien (KGaA). The change of the legal form includes the transfer of the
business currently conducted by CEWE COLOR AG & Co. OHG to CEWE Stiftung
& Co. KGaA.
-
Grammer AG (Amberg), a leading supplier of automotive interior and
seating systems, has issued loans evidenced by certificate of
indebtedness (Schuldscheindarlehen) in the amount of € 90 million which
is divided into tranches of 4 and 6 years as well as fixed and variable
interest rate tranches. Grammer AG is refinancing an existing loan
evidenced by certificate of indebtedness of 2006 prior to maturity in
August with part of the issuing proceeds.