Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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UniCredit S.p.A., Torino, and the management of UniCredit Private Banking S.p.A., Lugano, have signed an agreement concerning the sale of the entire shareholding in UniCredit (Suisse) Bank SA to the management for a considera-tion of CHF57.5 million. The deal was financed by the Banca dello Stato del Can-ton Ticino.
- Bär & Karrer
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Cobra Service Network SA, Lugano, successfully completed an increase of capital of the company by the shareholders Cobra Automotive Technologies SpA and Tracker Investment Holdings (Pty) Limited.
- Bär & Karrer
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The federal government enacts the complementing ordinances. The implementation of the federal statutes is for the most part the duty of the cantons, under the supervision of the federal authorities. The cantons enact the appropriate legislation. EU environmental regulations do not directly apply in Switzerland, as the country is not a member of the EU. However, Switzerland maintains extensive cooperative relations with the EU including with regard to the harmonisation of environmental legislation. Furthermore, it is a party to numerous international environmental conventions (see question 32).
- Niederer Kraft & Frey
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Switzerland’s financial services industry attracts worldwide interest and investment. For that reason, the laws relating to the insolvency of Swiss banks and other financial institutions are of considerable international interest.
- Niederer Kraft & Frey
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Tecan Group and NEXUS Biosystems, Inc. have signed an agreement concerning the sale of REMP AG, a wholly-owned subsidiary of Tecan, as well as other related assets. Under this agreement, NEXUS will acquire all activities of Tecan's Sample Management business segment.
- Bär & Karrer
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ARYZTA AG purchased Fresh Start Bakeries, partially financed through a placement of shares worth USD 140 million.
- Bär & Karrer
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On 1 July 2010, Habas Swiss Investments AG sold a commercial real estate property with office and retail spaces of 7'000m2 to a Swiss institutional investor for more than CHF 50 mio. Habas Swiss Investments AG belongs to Habas Group, a leading real estate company, listed in Tel Aviv, Israel
- Bär & Karrer
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On May 28, 2010, the UK Financial Reporting Council (the FRC) announced changes in the UK Corporate Governance Code (the Code), formerly known as the Combined Code. The Code is designed to make corporate boards more effective and more accountable to shareholders.
- Homburger
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Felix Dasser has been appointed new head of Homburger's Litigation | Arbitration practice team as from June 1, 2010.
- Homburger
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On June 11, 2010, Bankhaus Lampe, a leading independent owner-operated German private bank under the ownership of the Oetker family, closed the sale of its 100% stake in Atlantic Vermögensverwaltungsbank AG, a Swiss private bank in Zurich, to Bank von Roll AG. The transaction was announced on May 21, 2010.
- Homburger