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Press releases
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 worldwide
Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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Killing 2 Birds With 1 Stone: The Conceptual Double Derivative Action Comes to Life
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")? -
Prest (Appellant) v Petrodel Resources Limited & Others (Respondents) [2013] UKSC 34 On appeal from:
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.- Ogier -
High Yield and Convertible/Exchangeable Bonds
M&A bond financing: offshore high yield and convertible bond issuance- Ogier -
Indonesia Releases New Investment Laws on Public Companies
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. -
Critical Information for New Immigrants and Returning Residents Regarding Tax Benefits
A New Governmental Proposal to Significantly Narrow the Tax Benefits for New Immigrants and Returning Residents in Israel -
Litigation funding, champerty and the Code of 1771
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 for AIFMD
Jersey gets ready to comply with the requirements of the EU Alternative Investment Fund Managers Directive. -
Guernsey Update - Alternative Investment Fund Managers Directive ("AIFMD")
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"). -
In specie distributions – legal update
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. -
Guernsey Investment Funds - AIFMD Update
ESMA approves cooperation arrangements with Guernsey- Ogier
Press Releases worldwide
The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
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Sayenko Kharenko – legal counsel on the acquisition of ING’s securities and custody services bus
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 advised PTG Energy Public Company Limited
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 establishes pensions team with two senior lateral hires
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 Advises Emirates NBD PJSC on the USD 500 Million Acquisition of BNP Paribas S.A.E.
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. -
Partner and Senior Associate join Matouk Bassiouny's Dispute Resolution group
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. -
Landmark Supreme Court judgement on the Rights of Depositors in Cyprus
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 a laureate of the European Medal 2013
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 to acquire majority stake in Hakan Plastik of Turkey
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.- Paksoy -
Hengeler Mueller advises CEWE on transformation of legal form
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. -
Hengeler Mueller advises Grammer AG on refinancing by certificate of indebtedness
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.