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Editorial

Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Increased transparency for applications for marketing authorisation

On 17th July 2012, the Norwegian Medicines Agency (NMA) announced a change in their practice regarding disclosure of information for applications of marketing authorisations for medicinal products.

Sunset clause for medicinal products in Norway

"Sunset clause" is a common term for the provision which could lead to the cessation of the validity of the marketing authorisation of a medicinal product.

The Positive List for health claims – implementation in Norway

On 16th May this year the European Commission approved 222 health claims which are allowed in advertising and labelling of food products.

Preliminary injunctions in Norway

According to Norwegian law, preliminary injunctions are available for the patentee in order to preliminarily stop an infringement. The motion for a preliminary injunction should be filed with the District Court where the alleged infringer has its place of business, or, where the infringing activities take place.

Changes to the Norwegian prospectus rules

June 2012 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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On 11 May 2012 certain changes to the Norwegian prospectus rules were proposed to the Norwegian parliament to ensure compliance with Directive 2010/73 EU.

The European Ombudsman criticises EMA for lack of transparency with regards to the...

Paediatric Investigation Plans

The European Ombudsman has recommended that the European Medicines Agency (EMA) ensures adequate transparency in its decisions regarding the Paediatric Regulation. 

Competition Law Update 2012

May 2012 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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Our 2012 Competition Law Update presents recent developments and important case-law and decisional practice under Norwegian competition rules.

Public Procurement 2012

Norway is a member of the European Economic Area (“the EEA”), and a party to the EEA agreement. Through the EEA agreement Norway has implemented EU legislation on, inter alia, public procurement.

Doing Business in Norway

March 2012 - Corporate & Commercial. Legal Developments by Wiersholm.

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Doing business in Norway contains a summary of the aspects of Norwegian law that are most likely to interest foreign companies or individuals that are contemplating doing business or engaging in commercial activities in Norway. A publication of this kind can obviously only provide a limited outline of certain legal areas. The information contained in the publication is not exhaustive.

The Commission’s approach to acquisitions by Chinese public undertakings in Europe

The growing Chinese economy and Chinese investments is object of debate in Europe. Focus has especially been on alleged strategically-motivated takeovers by Chinese State-Owned-Enterprises (SOEs). Attorney-at-law Odd Stemsrud has written an article concerning the Commissions’ handling of acquisitions by Chinese SOEs.

Dell wins landmark case on permanent establishment in the Norwegian Supreme Court

The Norwegian Supreme Court issued its ruling in the so-called “Dell-case” on 2 December 2011. The main issue if the case was whether the Irish company Dell Products could be considered to have a taxable presence in Norway under article 5 (5) of the Tax Treaty between Ireland and Norway (permanent establishment), as a consequence of the activities of the Norwegian company Dell AS.

Oslo Børs issues code of practice for reporting IR information

November 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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On 26 October 2011 Oslo Børs issued a circular setting out new guidelines on the reporting of IR information for issuers of shares and equity certificates on Oslo Børs and Oslo Axess. This Code of Practice replaces the information symbol and the English symbol as standards for good practice in relation to reporting of IR information for companies listed on a Norwegian regulated market.

RECENT DEVELOPMENTS IN NORWEGIAN TAX AND COMPANY LAW: SIMPLER AND MORE EU-COMPATIBLE

By Harald Christensen, partner in Torkildsen Tennøe & Co, Oslo, Norway  

This year we have seen significant improvements and simplifications in Norwegian tax law and company law, of particular importance to small and medium-sized enterprises. Together, they provide possibilities of change, flexibility and lower costs. They make Norwegian companies more competitive compared to affiliates of foreign companies, which have in many ways become discredited.

Merger Control

October 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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The international regulation of mergers and joint ventures in 69 jurisdictions worldwide

Consulting editor: John Davies

Corporate Governance 2011

September 2011 - Corporate & Commercial. Legal Developments by Kluge Advokatfirma DA.

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This publication covers basic topics within the legal aspect of corporate governance and some "hot topics" subject to concurrent changes and discussion both nationally and internationally.

The Changing Laws Governing Entities in China – A Cause to Relax, or Worry?

September 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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For years, anyone doing business in China could tell you what kinds of entities are available to foreign investors wishing to invest in China, and which entities are most often utilized in a particular industry. And if they couldn’t tell you, their lawyers in Shanghai or Beijing certainly could. The laws in China governing the establishment of business entities are changing, however, and what may have been true last year no longer applies today.

WIKBORG REIN NEWSLETTER AUGUST 2011

August 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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Amendments to the issuer rules for companies listed on Oslo Børs and Oslo Axess

On 15 June 2011 the Board of Oslo Børs approved a number of amendments to the issuer rules for companies listed on Oslo Børs and Oslo Axess.

The International Comparative Legal Guide to: Pharmaceutical Advertising 2011

A practical cross-border insight into pharmaceutical advertising.

Wikborg Rein’s Shipping Offshore Update Nor-Shipping Edition 2011

July 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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Nor-Shipping 2011: Norway + Brazil = Business Opportunity I have the pleasure of introducing this special edition of the Shipping Offshore Update, which is published in connection with the Nor-Shipping exhibition in Oslo in May 2011.

Wikborg Rein newsletter: Salvage – New Lloyd's Open Form

July 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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The Lloyd’s Salvage Arbitration Branch (“LSAB”), the body responsible for administering the Lloyd’s Open Form of Salvage Agreement (“LOF”), has recently issued a new version of the Form – LOF 2011.

Minority Protection by trekantfisjoner

On 10 February 2011 Supreme Court ruling in a case where a minority shareholder had been forcibly exercised by a triangle fission. The case raised important questions about how such a process can take place.


Minoritetsvern ved trekantfisjoner

Den 10. februar 2011 avsa Høyesterett dom i en sak hvor en minoritetsaksjonær var blitt tvangsinnløst etter en trekantfisjon. Saken reiste et viktig spørsmål om hvordan en slik prosess kan foregå.  

Wikborg Rein newsletter: Contractual rights in China

May 2011 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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You have a contract, yes – but may your contractual rights be enforced in China?

Business today is no longer sealed with a handshake, and the strength of your commercial position normally depends on the contractual rights you negotiate, and – if these are not honored – your ability to effectively enforce these rights.

Risikoplasseringen ved uforutsette grunnforhold

Ved spørsmål om hvem som har risikoen for uforutsette grunnforhold i entreprise, ligger svaret i standardkontrakten.

NEWS LETTER 9 February 2011

OSLO BØRS LOSENS ITS GRIP ON THE COMPOSITION OF BOARDS OF DIRECTORS

Newsletter 2010

Amendments to the Norwegian Code of Practice for corporate governance.

Norwegian traders guilty of market manipulation against robot

November 2010 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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Two Norwegian retail traders received suspended sentences on 12 October for imprisonment by Oslo City Court for market manipulation in trades executed against an automated trading system on the Oslo Stock Exchange.

Open Source Code in Mergers and Acquisitions

The use of open source code is growing every day, and in some sectors the use of such code has exceeded all reasonable expectations. As always, such “new” phenomena provide both opportunities and challenges. The latter includes the many pitfalls that open source code generates in business takeover situations. 

Pharmaceutical Advertising 2010

A practical cross-border insightinto pharmaceutical advertising 

Supreme Court’s take on piracy and privacy

It is a well known fact that the Norwegian authorities do not prioritize criminal prosecutions of individuals that infringe copyright legislation by making movies, music, software etc available through various file sharing services on the Internet. It also seems to be a widespread conception that users anonymity is absolute in regard to other civilians, and that such user therefore are safely outside the reach of the copyright holders. The latter is now confirmed to be a misconception.

Digitisation and online accessibility of Europe’s cultural heritage

The Commission’s Reflection Group on Digitisation, established in April 2010, has now launched its consultation and seeks views on how to boost the online presence of Europe’s cultural heritage. The purpose is to speed up the online accessibility and preservation of cultural works across Europe.

Prisregulering av fjernvarme - The Price Control Regime for Norwegian District Heating Companies

September 2010 - Corporate & Commercial. Legal Developments by Kluge Advokatfirma DA.

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Article by Frode Støle and Marco Lilli in Norwegian energy industry journal "Energi" No. 5/2010 about the price control regime for Norwegian district heating companies. The regulator, the Norwegian Water Resources and Energy Directorate, is currently evaluating its price control practice.

Corporate Governance - 2010

Sources of corporate governance rules and practices

Norway: MERGERS & ACQUISITIONS 2010

Norway is not a member of the European Union (“EU”), but it is a member of the European Free Trade Association (“EFTA”) and the European Economic Area (“EEA”). This means that most EU regulations concerning M&A transactions has been and will be implemented in Norwegian law, including MIFID and the Transparency Directive.

Enforcement of security interests in banking transactions

Norwegian law requires a statutory basis for establishing a security interest. The pledge act of 8 February 1980 no 2 (the 'Pledge Act') is the legal basis for most types of security which can be established pursuant to Norwegian law. It is a general condition for establishing a security interest that the assets to be pledged are transferable, and to the extent transferability is conditional the same condition will apply to the security.

DOING BUSINESS IN NORWAY

The Norwegian market offers great business opportunities for foreign enterprises, both within the oil and gas sector, which is one of Norway’s major areas of business, and also within various other areas of business and industry.

Flere rettslige avklaringer i ny Høyesterettsdom vedrørende avhendingsloven

Høyesterett har i en nylig avsagt dom (9. februar 2010) innskjerpet mangelsvurderingen og reklamasjonstiden i forhold til tidligere underrettspraksis.

Legemidler til barn

Forordning (EF) nr. 1901/2006 om legemidler til barn ble vedtatt i EU i desember 2006 og trådte i kraft i EU 26. januar 2007. Høringsfristen for forslaget fra Helse- og omsorgsdepartementet om gjennomføring i norsk rett gikk ut 9. oktober 2009. Forslaget omfatter endring av legemiddelforskriften og patentloven. Departementet har til hensikt å fremme lovproposisjon med de nødvendige endringer så snart som mulig, men avventer vedtak i EØS-komiteen, med de nødvendige tilpasningstekster (overgangsregler), som tar forordningen inn i EØS-avtalen.

Migration of Norwegian companies to Europe

EF-domstolen har nylig avsagt en avgjørelse (Cartesio - C-210/06, 16. desember 2008) hvor det konkluderes med at den enkelte EF-medlemsstat kan forhindre at selskaper som er stiftet etter denne statens rett, flytter til en annen EF-medlemsstat. Dommen er basert på EF-traktaten art. 43 og art. 48 som tilsvarer EØS-avtalen art. 31 og art. 34. Dommen skal derfor etterleves også i Norge. Dette innebærer at dagens rettsoppfatning, om at norske selskaper ikke kan flytte til andre EF- og EFTA-medlemsstater uten å oppløses og avvikles, ikke er i strid med europeisk rett.

Legal issues in economic dealings with Norway

Geschäfte mit Norwegen sind für deutsche Unternehmen interessant. Dabei können verschiedene Rechtsprobleme auftreten, die zur erfolgreichen Geschäftsdurchführung bereits im Vorfeld beachtet werden sollten. In dem Artikel wird aufgezeigt, worin diese Probleme bestehen und wie sie gelöst werden können.

Haftung der Verwaltungsratsmitglieder wegen nicht ordnungsgemäß eingezahlter Einlagen

Mit Urteil vom 29. Januar 2009 hatte das Landgericht Borgarting (Borgarting lagmansrett) entschieden, dass die Mitglieder des Verwaltungsrats (styre) einer norwegischen GmbH (aksjeselskap, abgekürzt: AS) gesamtschuldnerisch für nicht ordnungsgemäß eingezahlte Einlagen haften (wir berichteten im Newsletter Nr. 1-2009).

Dual listing possibilities on Oslo Børs and the Singapore Exchange

September 2009 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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On 8 July 2009, the Singapore Exchange (SGX) and Oslo Børs entered into a Memorandum of Understanding to promote dual listings on the two markets. With its history tied to Singapore, Wikborg Rein has taken an active interest and part in the discussions leading up to the MoU. As a consequence of the strengthened focus on Asia through the MoU and establishment of several Norwegian based investment banks in Singapore, Wikborg Rein is expanding its corporate focus in the Singapore office to accommodate a need for assistance, in multiple areas, including dual listing processes.

Important changes to the rules on general meetings in private and public limited liability companies

August 2009 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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IMPORTANT CHANGES TO THE RULES ON GENERAL MEETINGS IN PRIVATE AND PUBLIC LIMITED LIABILITY COMPANIES – NEW REQUIREMENTS AND SIMPLIFICATIONS With effect from 3 August 2009 new rules have been implemented in the Norwegian Private and Public Limited Liability Acts. The rules concern the calling and conducting of general meetings as well as additional requirements for shareholders wishing to put items on the agenda. Furthermore, the changes allow for simplifications regarding both the calling and conduction of general meetings, but this requires amendments to the company's articles of association or resolutions from the company's board of directors.

Merger Control 2009: Norway

June 2009 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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A practical insight to cross-border merger control issues

Wikborg Rein's Corporate Udpate

May 2009 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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The 21st century has involved a series of changes in the securities market. A “dry spell” in the market during the first years was followed by a seemingly never-ending hype in the markets until the last part of 2007. As all good things must come to an end, 2008 brought indications of uncertain times. By year-end the change had been manifested in a full-blown crisis in the financial markets.

Now what? The crisis is long past global acknowledgement. For some of our clients, the core focus is restructuring and survival. Others see potential for growth and strategic positioning. In this Corporate Update, we choose to focus on opportunities by looking ahead – and looking to the East.

Doing Business in Norway 2008 / 2009

May 2009 - Corporate & Commercial. Legal Developments by Wiersholm.

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Doing business in Norway contains a summary of the aspects of Norwegian law that are most likely to interest foreign companies or individuals that are contemplating doing business or engaging in commercial activities in Norway. A publication of this kind can obviously only provide a limited outline of certain legal areas. The information contained in the publication is not exhaustive. If you or your company are doing business in Norway – or if you are planning to do so – we recommend that you obtain specific professional advice before any action is taken. Any questions or concerns may, of course, be referred to Wiersholm.

Pitfalls for Ship Managers

December 2008 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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Ship managers carry out management services as agents usually on behalf of a shipowner. For example, the ship manager will not be responsible usually for the shipowner’s obligations under an agreement for the supply of bunkers. However, in some cases ship managers risk being liable for the shipowner’s obligations.

Wikborg Rein Newsletter: Amendments to Norwegian merger control rules

December 2008 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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The Norwegian Competition Act will be amended as of 1 July 2008. The amendments entering into force on this date mainly concern merger control, in particular the repeal of the filing deadline, introduction of automatic suspention and new content requirements for notifications. The very low thresholds for notification in Norway are not affected by the amendments.

THE LUGANO CONVENTION 2007

December 2008 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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On 30 October 2007, the European Community, along with Denmark, Iceland, Norway and Switzerland, signed the “new Lugano Convention” (the “Lugano Convention 2007”, or the “Convention”). The Lugano Convention 2007 regulates international jurisdiction and the recognition and enforcement of judgments in civil and commercial matters. When entering into force, it will replace the existing Lugano Convention of 1988 (the “Lugano Convention”).

Getting the Deal Through: Merger Control 2009

December 2008 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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The relevant legislation for merger control in Norway is chapter 4 of the Norwegian Competition Act of 5 March 2004 (the Competition Act) and the Regulation on Notification of Concentrations of 28 April 2004 (the Regulation). Both entered into force on 1 May 2004.

Wikborg Rein Newsletter: Court approves Norwegian legislation on gaming activities

December 2008 - Corporate & Commercial. Legal Developments by Wikborg Rein.

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On 3 October 2008 Oslo District Court approved the Norwegian legislation concerning the operation of gaming activities. In course of the proceedings, several questions were referred to the EFTA Court. In reaching its conclusion the Court relied heavily on the EFTA Court’s preliminary ruling, as well as previous case law from the ECJ and the EFTA Court. The findings of the Oslo District Court are in line with a decision adopted by the Norwegian Supreme Court on 26 May 2007, and thus confirm that the Norwegian courts consider Norway’s strict approach towards the gaming sector to be in accordance with the EEA law.

General Business Law Considerations

August 2008 - Corporate & Commercial. Legal Developments by Wiersholm.

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Almost all commercial businesses give rise to or come into contact with issues of general contract law, the sale of goods, product liability, competition law and intellectual property rights. These and some other general business law considerations are described in this chapter.

Consignment Stock - Good Logistics, but a risk in case of bankruptcy

Customer bankruptcy generally generates unpleasant surprises for suppliers. Use of consignment stock located at the customer?s premises may constitute one. Is the bankruptcy estate of the customer storing the goods entitled to confiscate these goods because they have been delivered ? or is the supplier entitled to have the goods released since they have not been paid for?

Consignment Stock - Good Logistics, but a risk in case of bankruptcy

Customer bankruptcy generally generates unpleasant surprises for suppliers. Use of consignment stock located at the customer?s premises may constitute one. Is the bankruptcy estate of the customer storing the goods entitled to confiscate these goods because they have been delivered ? or is the supplier entitled to have the goods released since they have not been paid for?

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