The Legal 500

Twitter Logo Youtube Circle Icon LinkedIn Icon

Clifford Chance

31 WEST 52ND STREET, NEW YORK, NY 10019-6131, USA
Work +1 212 878 8000
Fax +1 212 878 8375

United States

Real estate
Real estate - ranked: tier 5

Clifford Chance

Clifford Chance’s New York-based practice is now led by Ness Cohen, following Douglas Wisner’s move into the firm’s financial restructuring group. Cohen was busy on a range of debt finance matters, including advising Madison International Realty on the $1.28bn recapitalization of the company’s joint venture interest in a 15-property portfolio of retail assets in the New York City metropolitan area; and on the lender side, Cohen acted for Almanac Realty Investors in the origination of a $150m loan to CA Student Investors. Another name to note is counsel Victoria Manthas, who represented Waterfall Asset Management in connection with its acquisition from Barclays of a senior securitized mezzanine loan secured by equity interests in the owners of approximately 90 Red Roof Inns nationwide. The practice also regularly handles inbound investment and divestment work for the firm’s impressive international client base; in 2016, the team represented AVWL in connection with the $457m acquisition of an indirect interest in an office building complex in Washington DC, and also acted for JHSF Participacoes in the $128m sale of 16-18 West 57th Street, New York. Other active clients include Safra National Bank of New York and National Storage Affiliates Trust.

[back to top]

United States: Dispute resolution

Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 4

Clifford Chance

At the ‘outstandingClifford Chance, Washington DC-based practice head David DiBari and New York-based Edward O’Callaghan secured a victory for aerospace company Fokker Services at the DC Circuit, concluding a criminal case regarding sanctions violations, and O’Callaghan is also acting for a key witness in the London Whale investigation and former vice-president of FIFA Jeffrey Webb. ‘Clever, commercially savvy and client-friendly’ New York lawyer Christopher Morvillo advised Autonomy founder Mike Lynch on DOJ, SEC and SFO investigations into alleged accounting improprieties at Autonomy. Daniel Silver joined the New York office in March 2016 after leaving the US Attorney’s Office for the Eastern District of New York, and Robert Rice joined in August of that year from the SEC. Other key figures include Washington DC’s Megan Gordon and New York’s Robert Houck.

[back to top]

International arbitration
International arbitration - ranked: tier 4

Clifford Chance

At Clifford Chance, key highlights included representing a Spanish investor in an UNCITRAL claim for violations of a BIT arising out of the expropriation of a concession agreement to run Bolivia’s three international airports, and acting for a group of oil companies in proceedings to confirm and enforce a $1.4bn arbitral award against the Nigerian state oil company. In Washington DC, special legal consultant Ignacio Suarez Anzorena, who has a particularly strong Latin America practice, is recommended, and the team was recently bolstered by the arrival of the ‘brilliant’ Janet Whittaker from Simpson Thacher & Bartlett LLP.

[back to top]

Securities litigation: defense
Securities litigation: defense - ranked: tier 5

Clifford Chance

Clifford Chance is ‘terrific at defending securities fraud investigations’ and clients highlight Robert Houck as ‘very commercially minded and a vigorous advocate’. He is defending Bank of Montreal in an MDL comprising more than 40 class actions against primary dealers alleging they colluded to manipulate the auction and resale of US Treasury debt securities. He is also representing ICBC Standard Bank in a class action alleging manipulation of platinum and palladium price benchmarks. Clients also praise the ‘extraordinarily talented and smartEdward O’Callaghan and Chris Morvillo, who is representing the founder of Autonomy in cross-border matters. Named attorneys are based in New York.

[back to top]

United States: Finance

Asset finance and leasing
Asset finance and leasing - ranked: tier 1

Clifford Chance

The New York-based asset finance group at Clifford Chance specializes in acting for investment banks, operating lessors and export credit agencies (ECAs) in matters ranging from aircraft securitizations to fleet acquisitions. Emily DiStefano assisted a private equity-backed financing provider, Global Jet Capital, on a $2.5bn leveraged acquisition of GE’s entire North American corporate aircraft portfolio. Joint practice head Zarrar Sehgal, who also leads the firm’s global transport and logistics group, is well versed in aviation capital markets transactions, having acted for Goldman Sachs in its role as underwriter in relation to Apollo Aviation Group’s second aircraft securitisation, Apollo Aviation Securitization Equity Trust 2016-1; a $510m issuance of asset-backed notes used to acquire a fleet of 32 aircraft. The team also advised Goldman Sachs on a $300m secured warehouse facility, in which Apollo Aircraft Trust 2015-1 was the borrower. Patrick O’Reilly and practice co-head John Howitt advised PK AirFinance on a loan to Wood Creek Capital Management to finance the acquisition of Volito Aviation’s aircraft leasing business.

Leading lawyers

Emily DiStefano - Clifford Chance

John Howitt - Clifford Chance

Zarrar Sehgal - Clifford Chance

[back to top]

Capital markets: equity offerings
Capital markets: equity offerings - advice to issuers - ranked: tier 4

Clifford Chance

Clifford Chance’s New York-based team leverages its market-leading US REITs practice to offer specialist expertise in that space, and it is also recommended for its strong experience in cross-border deals. Among the firm’s recent work, Jay Bernstein and Jake Farquharson advised Retail Opportunity Investments on three equity offerings worth a combined $361m, and department co-chair Kathleen Werner assisted Corporate Property Associates 19 with preparations for its IPO, which could be worth up to $2bn. Jonathan Zonis is one of the Americas capital markets group heads and has an impressive record in Latin American transactions. Hannon Armstrong Sustainable Infrastructure Capital and Quotient are also clients.

[back to top]

Capital markets: global offerings
Capital markets: global offerings - advice to issuers - ranked: tier 3

Clifford Chance

Capital markets: global offerings - advice to underwriters - ranked: tier 4

Clifford Chance

Clifford Chance’s New York office has a good reputation for handling Latin American offerings, though partners such as practice co-head Jonathan Zonis also have experience in other major regions such as Asia. Recent highlights include advising Citigroup Global Markets as lead manager and global coordinator on a $1bn bond issue by the Republic of Ecuador, which will use the funds to invest in infrastructure projects. The firm also has a strong niche in REITs and acted for a major Mexican hospitality company during the formation and IPO of a Mexican REIT, which will be the first of its kind to own resort properties. Other notable names in the team include practice co-head Kathleen Werner, Alejandro Camacho, Jay Bernstein and Per Chilstrom.

[back to top]

Capital markets: high-yield debt offerings
Capital markets: high-yield debt offerings - advice to issuers - ranked: tier 4

Clifford Chance

Clifford Chance shines in sophisticated specialty finance matters and major multi-jurisdictional transactions, with particular expertise in Latin America. Gary Brooks advised LATAM Airlines Group on its inaugural $800m issuance of high-yield bonds, and Gianluca Bacchiocchi worked alongside the firm’s offices in Peru, Italy, Spain, Japan and Germany to act for Metro de Lima Linea 2 in its $1.1bn issuance of notes. Jonathan Zonis led the US advice to Citigroup Global Markets, as the lead manager and global coordinator, in the Republic of Ecuador’s $1bn notes offering. In a purely domestic set of deals, Kathleen Werner advised iStar as issuer’s counsel in several matters, including bond offerings worth $170m. AES Panama and CLISA are also clients.

[back to top]

Financial services regulation
Financial services regulation - ranked: tier 7

Clifford Chance

Led out of New York by Nick O’Neill, Clifford Chance’s team provides advice on domestic bank regulatory matters as well as on the connected global regulatory framework. The sweet spot of UK-qualified O’Neill is in advising US clients on the impact of UK and EU regulation on their businesses; working closely with colleagues in London, O’Neill is advising US hedge and private funds on the implications of the EU’s Alternative Investment Fund Managers Directive (AIFMD) on their activities in the EU. O’Neill is also part of a coordinated global team that is advising UBS on its global restructuring in order to reduce risk and better navigate future financial upheavals.

[back to top]

Project finance
Project finance: advice to lender - ranked: tier 2

Clifford Chance

Project finance: advice to sponsor - ranked: tier 3

Clifford Chance

Clifford Chance’s ‘fantastic’ department is commended for its ‘impressive industry knowledge’ and for its ‘unparalleled levels of commitment and responsiveness’. Projects based in Latin America and Africa are a particular strength, and the firm’s lender-side practice is formidable. Gianluca Bacchiocchi and senior associate Guido Liniado (who are noted for their ‘perfect combination of knowledge, work ethic and commerciality’ and for their ‘incredibly good understanding of counterparty’s concerns’) advised Goldman Sachs as arranger, and a group of senior lenders including Bancolombia, on the debt financing of three toll road projects in Colombia, together worth $965m. Lori Bean has been very active on Africa-based projects: she assisted OPIC, Standard Bank and Nedbank with the $500m financing of a 192MW power plant in Ghana, advised OPIC on $400m-worth of financings pertaining to wind projects in Kenya, and acted for the same client again on the $857m financing of a solar project in South Africa. In an illustration of the practice’s work for sponsors, David Evans assisted Matelec Group with the financing of the $134m Tobene power project in Senegal, and Fabricio Longhin advised Graña y Montero on the $200m part-financing of the Gasoducto Sur Peruano project. Closer to home, Evans acted for Samchully Asset Management on its $609m equity investment in an Ohio gas-gathering system.

[back to top]

Structured finance
Structured finance - ranked: tier 3

Clifford Chance

Clifford Chance is an ‘excellent resource’ for structured product transactions, and has been increasingly active in the resurgent CRE market. Joint practice head Steven Kolyer acted for Medley during the structuring and formation of a private investment fund for the purpose of third-party risk retention equity capital to new CLOs and fund sponsors. Robert Villani, who co-heads the group and focuses on novel and traditional structuring, advised Credit Suisse Asset Management as portfolio manager on a series of CLO issuances totaling $814m and made up of floating rate notes, subordinated notes and combination securities. The team is also particularly active in the CMBS and RMBS markets, and assisted ReadyCap Commercial as originator and issuer with the issuance of commercial mortgage pass-through certificates by Ready Capital Mortgage Trust 2015-2. Other notable clients include Hunt Mortgage Group, Bayview Asset Management and Jefferies.

Leading lawyers

Steven Kolyer - Clifford Chance

[back to top]

United States: Industry focus

Energy transactions: conventional power
Energy transactions: conventional power - ranked: tier 5

Clifford Chance

Clifford Chance excels in project finance, although it also handles project acquisitions. It is particularly active in emerging markets, most often in Africa and Latin America. The Washington DC-based Lori Bean advised lenders including OPIC and Standard Bank on financing the $500m 192MW Amandi power plant in Ghana. Much of its Latin American work is lender side and involves renewable energy projects.

[back to top]

Energy transactions: oil and gas
Energy transactions: oil and gas - ranked: tier 4

Clifford Chance

Clifford Chance’s ‘outstanding’ Washington DC-based practice has ‘superior knowledge’ and a key strength is cross-border project finance. Fabricio Longhin assisted Graña y Montero with obtaining a $200m loan from Credit Suisse to finance the $4.2bn Gasoducto Sur Peruano project; David Evans advised Samchully Asset Management on the partial acquisition from Total and CGAS Properties of a gas-gathering system in Ohio.

[back to top]

Insurance: non-contentious
Insurance: non-contentious - ranked: tier 4

Clifford Chance

Clifford Chance has a fine reputation for handling cross-border transactional and regulatory advice in the insurance sphere for asset managers, insurers, reinsurers and brokers; acquisitions, private equity investments into insurance companies and joint ventures are areas of expertise. The firm has experience dealing with start-up insurers such as Fidelis Insurance Holdings, and practice head Gary Boss advised the client on its hybrid investment model and subsequent acquisitions, regulatory matters and corporate structuring issues. Practice head Nicholas Williams continues to advise the Singapore investment arm of CMI on its $2.6bn acquisition of Sirius International Insurance Group from White Mountains Insurance Group. Other highlights included overseeing Willis Capital Markets & Advisory’s establishment of its Middle Eastern operations, including regulatory advice and corporate structuring assistance. Big-ticket clients include Munich Re, Citigroup and Apollo Global Management. Other notable names in the practice are senior counsel tax expert Donald Carden and capital markets lawyer Per Chilstrom. All lawyers mentioned are in the New York office.

[back to top]

United States: Investment fund formation and management

Private equity funds
Private equity funds - ranked: tier 5

Clifford Chance

Clifford Chance’s clients value the firm’s ‘deep industry knowledge, prompt turnarounds, market-driven commercial advice and practical legal guidance’. Roger Singer advised Madison International on a real estate debt fund with feeders in three countries; he also handles sales and purchases of limited partner interests on behalf of British pension funds. Other names of note include Clifford Cone and Kathleen Werner; Werner advised H/2 Capital Partners on the formation of a $1.5bn real estate debt fund.

[back to top]

United States: Labor and employment

Employee benefits and executive compensation (transactions)
Employee benefits and executive compensation (transactions) - ranked: tier 5

Clifford Chance

The employment lawyers at Clifford Chance advise on transactional compensation issues and clients ‘rate them highly’. Working closely with the firm’s corporate practice, team leader Howard Adler assisted clients with acquisitions and spin-offs in the insurance and real estate sectors, while counsel Robert Stone assisted in work for clients such as Apollo Commercial Real Estate Finance, Colony Capital and Fidelis. Associate Janice Chan joined from Ropes & Gray LLP and is also recommended by clients. Named lawyers are all based in New York.

[back to top]

United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 6

Clifford Chance

Clifford Chance is recommended for ‘larger and international M&A deals’ and is praised for its ‘extraordinary level of service’. The team is ‘very loyal and engaged’ and demonstrates real familiarity with clients’ businesses, according to one client. It has an impressive record in cross-border transactions thanks to its broad international network and integrated teams. It is notably active in deals involving Latin America and advised Actis on its sale of a 92% stake in Energuate, Guatemala’s largest electricity distribution company, to IC Power, a wholly owned subsidiary of NYSE-listed Kenon Holdings. The firm’s New York office has attracted an impressive client portfolio, including The Coca-Cola Companies, Mondelēz International, Pfizer, McGraw-Hill and Informa. In 2016, it advised Mondelēz on the $13.9bn take-private acquisition of Keurig Green Mountain by JAB Holdings. Real estate and financial institutions are also key sectors; the firm is especially active in the insurance segment thanks in part to the presence of Gary Boss, who is recognized for his record in reinsurance, including advising several hedge fund-backed reinsurers. Former Simpson Thacher & Bartlett LLP counsel Kevin Lehpamer joined the firm as a partner at the end of 2016 to reinforce the senior ranks, which include David Brinton, a big name in energy and Latin America transactions, and Benjamin Sibbett, who is ‘smart, responsive and practical’, and has a strong record in healthcare, media and information services deals. Sarah Jones is another key team member and has close relationships with The Coca-Cola Companies, Mondelēz and AEI. Senior practitioner John Healy is praised for his understanding of ‘business and strategic objectives’ and is recommended for public M&A and corporate governance issues.

[back to top]

United States: Real estate

Real estate investment trusts (REITs)
Real estate investment trusts (REITs) - ranked: tier 1

Clifford Chance

Clifford Chance’s New York-based REITs practice attracts clients through its ‘excellent subject matter expertise, responsiveness and business acumen’. Practice leaders Jay Bernstein and Richard Catalano advised Colony American Homes on its $7.7bn merger with Starwood Waypoint Residential Trust. The team also handles debt matters, such as the ‘valuedKathleen Werner’s advice to iStar regarding several multimillion-dollar credit facilities and senior note issuances. Having been promoted to partner in 2016, corporate lawyer Jake Farquharson assisted Retail Opportunity Investment Corporation with multiple equity offerings and shelf registrations of common stock. Bernstein and fellow capital markets lawyer Jason Myers are also involved in the recapitalization of Yes! Communities, which turned from a dual-track IPO into a joint venture transaction.

Leading lawyers

Jay Bernstein - Clifford Chance

Richard Catalano - Clifford Chance

Next generation lawyers

Jake Farquharson - Clifford Chance

[back to top]

United States: Tax

Financial products
Financial products - ranked: tier 1

Clifford Chance

At Clifford Chance in New York, David Moldenhauer (noted for his ‘depth of knowledge’), Richard Catalano (‘extremely good at problem solving’), Philip Wagman (‘tireless and unflappable during difficult assignments’) and Michael Seaton are the key partners for financial products. Moldenhauer and Wagman advised the major shareholders of AB InBev on its acquisition of SABMiller, including on critical tax matters and deal financing, while Catalano provided assistance to Madison International regarding its Real Estate Liquidity Fund IV, targeting $1.35bn. Seaton supported Enstar Group and an investment manager of UBS in the formation of an alternative asset reinsurance company in Bermuda called Aligned Re. Donald Carden stepped down as partner and is now of counsel.

Next generation lawyers

Michael Seaton - Clifford Chance

[back to top]

International tax
International tax - ranked: tier 3

Clifford Chance

Clifford Chance’s international tax department, which is led out of New York by Richard Catalano, consists of seven partners and several other lawyers. David Moldenhauer and Philip Wagman advised AB InBev’s key shareholders on its $101bn acquisition of UK-based SABMiller. Alongside Emily DiStefano, Wagman also handled Global Jet Capital’s acquisition of General Electric’s entire North American corporate aircraft portfolio for $2.5bn. Sarah Jones led the joint acquisition of AdeS Alimentos de Soja by clients The Coca-Cola Company and Coca-Cola FEMSA from Unilever. Berkshire Group and Fidelis Insurance are additional clients. Donald Carden was transitioned from partner to of counsel.

[back to top]

US taxes: non-contentious
US taxes: non-contentious - ranked: tier 3

Clifford Chance

At Clifford Chance, practice head Richard Catalano led the advice to Apollo Global Management on tax issues arising from the mergers of Apollo Commercial Real Estate Finance and Apollo Residential Mortgage. Other highlights for Catalano included acting as lead counsel for Colony American Homes on its $7.7bn merger with Starwood Waypoint Residential Trust, creating a REIT with over 30,000 homes on its portfolio, while David Moldenhauer and Philip Wagman acted for the shareholders of AB InBev on the tax aspects of the company’s acquisition of SABMiller.

[back to top]

Latin America: International firms

Banking and finance
Banking and finance - ranked: tier 1

Clifford Chance

Clifford Chance has a formidable Latin America banking and finance practice spread across its New York, Washington DC and São Paulo offices. The broad practice has demonstrated its market leading credentials in both restructurings and new money financings across the region. It is at the forefront of numerous recent restructurings in Brazil, where it also has a strong record in trade and commodity finance and export prepayment facilities. The firm is also experiencing growth in Argentina, following the jurisdictions re-engagement with the global economy, and remains a big player in energy and infrastructure finance and aviation finance. Other than Brazil, where it has a solid physical presence, the firm is especially active in Mexico, Colombia and Peru. The firm has long been recognised for its lending-agency client base and while this continues to be a pivotal part of the practice, it now represents a multitude of commercial banks such as UBS, HSBC, Mizuho Bank, Goldman Sachs and Credit Suisse. It has also experienced considerable growth in borrower engagements for clients such as Grupo R. The firm is widely recognised for its prominent role in Colombia’s 4G transport infrastructure program. This included advising the banks and debt funds on the financing of eight separate toll roads as part of the first wave of the nation’s $20bn infrastructure initiative. It represented Goldman Sachs on a $2bn multi-tranche and multi-currency financing for three 4G toll roads and advised Inter-American Development Bank (IDB) on the financing of the Perimetral Oriental de Cundinamarca toll road. In another landmark transaction, the firm advised Metro de Lima Linea 2, as concessionaire, and a consortium of sponsors on a $1.15bn securitization by Lima Metro Line 2 Finance and an $800m structured financing provided by a group of commercial banks, multilaterals and export credit agencies (ECAs). This involved the largest RPI-CAO securitization in Peru to date and constituted a fundamental component in the development of this landmark metro project in Lima. New York’s Jay Gavigan has a strong record in corporate financings and energy sector financings, and has a close connection to the IDB, several commercial banks and a number of Latin American borrowers, particularly in Mexico, Argentina, Brazil and Colombia. Chris Willott has transferred from São Paulo to New York, but remains heavily focused on Brazil where he represents a number of major local borrowers and banks in project finance, trade finance and corporate finance transactions. Gianluca Bacchiocchi is a leader in project finance, including transactions involving both loans and bonds. Washington DC’s Fabricio Longhin is another key player in project finance and has impressed with his work on Colombia’s 4G infrastructure program. Charles Adams is an increasingly integral member of the practice, having worked on a series of important deals in Colombia and Peru. Evan Cohen, the Americas regional managing partner, has a broad practice encompassing acquisition finance, project finance, syndicated lending and restructuring; and Washington DC’s Catherine McCarthy is close to a number of agency lenders such as the International Finance Corporation (IFC), IDB and Inter-American Investment Corporation (IIC), and commercial banks including Citibank and HSBC.

[back to top]

Capital markets
Capital markets - ranked: tier 2

Clifford Chance

Clifford Chance has a broad and well-developed capital markets practice with considerable experience in debt and equity products across Latin America. The firm continues to be at the forefront of project and infrastructure bonds and through its substantial São Paulo office, has maintained a solid deal flow in Brazil and is well placed to target the growth in local equity deals. Recent work saw the São Paulo team advise the initial purchasers and dealer managers on a $500m liability management transaction by Votorantim Cimentos through its wholly owned subsidiary St Mary’s Cement. In addition, the Latin America team has a solid record in asset-backed deals and securitization, and has a burgeoning reputation in sovereign debt transactions having built on the strength of its global role in sovereign issuances. In 2016, the firm advised Citigroup as the sole underwriter on the Republic of Ecuador’s $1bn bond offering. Elsewhere, the team has forged a reputation for expertise in hybrid structures to fund infrastructure projects, including in Colombia where it is at the forefront of the nation’s fourth generation (4G) road infrastructure programme. The firm represented Goldman Sachs and the senior lenders in the structuring, arranging and underwriting of a multi-tranche and multi-currency financing for the Conexión Pacifico III toll road project; the first to be financed internationally, it was also the first ever project bond in Colombia. Other clients include Banco do Brasil, BESI, Bradesco BBI, Compania Latinoamericana de Infraestructura y Servicios, Credit Suisse, JP Morgan, Lima Metro Line 2 and Merrill Lynch. The large Latin America team fields a strong cohort of senior practitioners with considerable capital markets expertise. This includes São Paulo managing partner Anthony Oldfield, who has an impressive record in equity and liability management transactions by Brazilian issuers; fellow São Paulo practitioner Anand Saha, who is ‘moving up’ and is ‘involved in a lot of transactions’; and Alejandro Camacho, who is a prominent name in Mexico and other Latin American jurisdictions and has considerable high-yield debt expertise. Other noteworthy names include Gianluca Bacchiocchi who is a market leader in project and infrastructure bonds and hybrid financings, most notably in Peru and Cololmbia; pivotal team member Jon Zonis who operates across multiple jurisdictions and product areas, including sovereign bonds; and increasingly prominent name Per Chilstrom. All partners are based in New York unless stated otherwise.

[back to top]

Projects and energy
Leading lawyers

Gianluca Bacchiocchi - Clifford Chance

[back to top]

Further information on Clifford Chance LLP

Please choose from this list to view details of what we say about Clifford Chance LLP in other jurisdictions.

United Arab Emirates

Offices in Abu Dhabi and Dubai




Offices in Sydney and Perth


Offices in Brussels


Offices in Shanghai and Beijing

Czech Republic

Offices in Prague


Offices in Düsseldorf, Frankfurt, and Munich



Offices in Madrid and Barcelona


Offices in Paris


Hong Kong

Offices in Hong Kong



Offices in Jakarta

Latin America: International firms




Offices in Rome and Milan


Offices in Tokyo


Offices in London E14 and London EC2R


Offices in Luxembourg


Offices in Casablanca



Offices in Amsterdam



Offices in Warsaw


Offices in Doha

Asia Pacific: Regional international arbitration


Offices in Bucharest


Offices in Moscow


Offices in Singapore

South Korea

Offices in Seoul

Saudi Arabia

Offices in Riyadh



Offices in Istanbul

United States

Offices in Washington DC and New York

Legal Developments by:
Clifford Chance LLP

Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Government puts cartel criminalisation back on the table

    The Minister of Commerce and Consumer Affairs, Kris Faafoi, has today tabled the Commerce (Criminalisation of Cartels) Amendment Bill (the Bill ) in the House.
  • Luxembourg introduces draft legislation to create beneficial ownership registers

    Luxembourg’s government has published draft legislation to incorporate into national law the requirements under articles 30 and 31 of the European Union’s Directive 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, better known as the 4th Anti-Money Laundering Directive. Placed before the Chamber of Deputies on December 6, 2017, draft law no. 7217 would establish a central register of beneficial owners of Luxembourg legal entities such as companies and partnerships under the authority of the minister of justice, while draft law no. 7216 would create a similar register of beneficial owners of fiduciary contracts, that is express trusts, under the authority of the Administration de l’Enregistrement et des Domaines, Luxembourg’s indirect tax authority.
  • The new EU regulation on general data protection 2016/679 (“GDPR”)

  • Spouses and tax demands

    6 Mar 2018 at 04:00 / NEWSPAPER SECTION:
  • What Can You Legally “Watch Free Online” and When?

    Putlocker. BitTorrent. PirateBay. Napster. Mediafire.
  • New Zealand favours English approach to penalties

    A recent High Court decision marks an important step in the development of the approach to the “Penalty Doctrine” in New Zealand – that is, the principle that contractual provisions which allow parties to punish one another disproportionately are unenforceable. Justice Whata’s judgment in Honey Bees v 127 Hobson Street 1 carefully traverses the recent evolution of the doctrine and provides helpful clarification of its application to contracts in New Zealand.
  • Raspberries and IT: New Sector Inquiries by the Serbian Competition Commission

    The Serbian Competition Commission (the " Commission ") recently finished sector inquiries concerning quite distinct industries – raspberries and the public procurement for software and hardware. The aim behind the inquiries was to perform extensive market research and analysis in order to acquire a clearer picture of the possible antitrust issues and risks in two sectors widely perceived as strategic for the development of the Serbian economy.
  • How open is New Zealand to Open Banking

    This week New Zealand hosts the Digital Nations 2030 to discuss what is required to become a truly digital nation by 2030. Open Banking is a critical first step, but where is it on the Government’s agenda?​
  • The Public Administration Electronic Market: the future of public procurement

    The Public Administration Electronic Market is a digital marketplace, created in 2002 and managed by Consip S.p.A., the Italian central purchasing body, on behalf of the Ministry of the Economy and Finance. Through the Ministry, registered authorities can purchase goods and services offered by suppliers that have been vetted and authorised to post their catalogues on the system for values below the European threshold.
  • Even More Sector Inquiries: Sportswear And Oil Retail Under Scrutiny By The Serbian Commission

    The Serbian Competition Commission (the " Commission ") continues its diligent examination of the Serbian competitive landscape in specific industries, this time with inquiries in two more industries – sportswear (including footwear and sporting equipment) and oil (petroleum products). Once again, the aim behind the market test was to identify potential issues on the relevant markets and provide broader insight into the functioning of the relevant markets.