The Legal 500

Publishing firms

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

 

VEGAS LEX on legal aspects of doing business in Russia

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 23, 2014, VEGAS LEX partner and head of the International Projects Group Yuriy Bortnikov spoke before an audience of major venture funds and IT companies including Facebook, LinkedIn and Survey Monkey in Palo Alto, California. His presentation Doing Business in Russia: Essential Legal Matters was devoted to the legal specifics of the Russian environment for business.

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Hengeler Mueller advises arrangers and underwriters on financing of planned acquisition of Sigma-Ald

October 2014. Press Releases by Hengeler Mueller (view listing).

Merck, a leading company for high-tech products in the pharma, performance materials and life science sectors, and Sigma-Aldrich, also a leading life science and technology company, today announced that they have entered into a definitive agreement under which Merck will acquire Sigma-Aldrich for €13.1bn (converted). A USD 15.6bn bridge financing has been secured for the all-cash transaction. The final financing structure will comprise a combination of cash on Merck's balance sheet, bank loans and bonds. Deutsche Bank, J.P. Morgan and Société Générale acted as arrangers and underwriters in respect of the financing transaction. Closing is expected in mid-year 2015, subject to regulatory approvals, approval by a special shareholders' meeting of Sigma-Aldrich and other customary closing conditions.

 

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AstapovLawyers Becomes Official Legal Partner of Ukrainian Tennis Federation

October 2014. Press Releases by Astapov Lawyers International Law Group (view listing).

AstapovLawyers is pleased to announce it has become an official legal partner of the Ukrainian Tennis Federation. AstapovLawyers will provide full legal support to the Federation including advice on on-going matters, drafting and negotiating contracts, employment, tax and corporate issues. AstapovLawyers has become the first law firm to act as an official legal partner of the Ukrainian Tennis Federation.

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PharmaStrategies-2015: Anti-monopoly service experts discuss problems and prospects of Russia’s ph

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

The plenary session of the PharmaStrategies-2015 conference focused on several key issues including a planned international pharmaceutical market information system for anti-monopoly regulators, changes in the federal law on circulation of medicines and the application of the law on public procurement contracts system.

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VEGAS LEX helps sign concession agreement on 12-tons-plus project

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 29, 2014, the Government of the Russian Federation and RT-Invest Transport Systems signed a concession agreement on one of the largest investment projects in Russia to introduce a tolling system for vehicles heavier than 12 metric tons.

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VEGAS LEX attends conference on Russia’s pension system in Khanty-Mansiysk

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

VEGAS LEX managing partner Alexander Sitnikov spoke at a conference sponsored by the Khanty-Mansiysk Non-State Pension Fund focused on Russia's pension system and relevant federal legislation earlier this month.

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Channel Island Securities Exchange, LBG - Continuing Obligations for issuers with listed Investment

October 2014. Press Releases by Ogier (view listing).

This Client Briefing has been prepared for the assistance of directors of investment funds listing "equity securities" as defined in Chapter I of the listing rules (the Listing Rules) of the Channel Islands Securities Exchange (the Exchange) under Chapter VII of the Listing Rules. This Briefing sets out certain of the continuing obligations which an issuer is required to observe once any of its securities have been admitted to listing. This Client Briefing should be read in conjunction with the ‘Channel Island Securities Exchange - Listing of Securities of Investment Funds' Briefing.

 

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1 August 2014: Walder Wyss opens office in Basel

October 2014. Press Releases by Walder Wyss Ltd (view listing).

Following the opening of our offices in Lugano in 2013, Walder Wyss has further expanded its operations with the opening of new offices in Basel.  We warmly welcome our new team which consists of 12 experienced legal professionals and 9 staff members.


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Export Commission paid to a Foreign Agent not Taxable

October 2014. Press Releases by Seth Dua & Associates (view listing).

The Delhi High Court in case of DIT v Panalfa Autoelektrik Ltd: 49 taxmann.com 412, held that export commission for arranging export sales could not be considered as consideration for providing managerial, consultancy or technical services, and therefore would not be taxable in India.

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Boult Wade Tennant maintains top tier rankings in this year's Legal 500

October 2014. Press Releases by Boult Wade Tennant (view listing).

Boult Wade Tennant is delighted to announce the firm has maintained our top tier rankings in leading industry directory: The Legal 500 in both the patent and trade mark categories.

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VEGAS LEX on important aspects of technological connection to power grids and power supply contracts

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 25-26, 2014, experts of the VEGAS LEX law firm spoke at a series of seminars organized by the LawTEK (PravoTEK) school.

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VEGAS LEX, VEB Innovations Fund explain shareholder agreements and term sheets

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 16, 2014, VEB Innovations Fund and the VEGAS LEX law firm held a seminar on drafting a term sheet and other corporate documents needed to finalize a deal for venture investment funds and members of the IR&D club (Innovation and R&D Directors Club).

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Azmi & Associates advises on Biodiesel Plant Acquisition

October 2014. Press Releases by Azmi & Associates (view listing).

Azmi & Associates recently advised Felda Global Ventures Holdings Berhad (‘FGVH') in a corporate transaction via its subsidiary, Felda Global Ventures Downstream Sdn. Bhd. (‘FGVD') in a joint venture agreement involving two other parties namely M2 Capital Sdn Bhd. (‘M2 Capital') and Benefuel International Holdings S.A.R.L. (‘Benefuel') which is a subsidiary of Benefuel US, through which an SPV will be incorporated to acquire a biodiesel plant. The JV company has agreed to acquire a biodiesel plant ("Plant") located at Gebeng, in the East Coast of Peninsular Malaysia from Mission Biofuels Sdn. Bhd. (‘MBSB') for a USD twenty two million and five hundred thousand (USD 22,500,000.00) (‘Plant Acquisition') under a Plant Purchase Agreement. The shareholding of FGVD, M2 Capital and Benefuel in the JV Company shall be 60% for FGVD, 20% for M2 Capital and 20% for Benefuel. The estimated project cost for the proposed joint venture including the Plant Acquisition, licensing costs, purchase of catalyst, refurbishment and retrofit shall be USD forty seven million and five hundred thousand (USD 47,500,000.00). The nature of business of the JV Company shall be manufacturing and producing biodiesel using the retrofitted Plant and other ancillary activities. 

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VEGAS LEX wins RUR 66 mln building contract dispute for its client

October 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 11, 2014, the VEGAS LEX law firm won a case for one of its clients - a major developer - in a dispute over a general contract to construct a luxury residential building in Moscow's Central Administrative Area.

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Boult Wade Tennant welcomes new Biotechnology and Life Sciences Attorney

October 2014. Press Releases by Boult Wade Tennant (view listing).

We are delighted to announce that Dr James Legg has joined Boult Wade Tennant’s Biotechnology and Life Sciences Group effective 29 September, 2014. James was previously part of a Cambridge based IP firm. As part of the Boult Wade Tennant team, he will help to develop our biological therapeutics and molecular biology practice.

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ANDREINA DEGLI ESPOSTI FORTHCOMING SPEECH FOR THE LLOYD’S MEET THE MARKET EVENT

October 2014. Press Releases by Villata, Degli Esposti, Perfetti e Associati (view listing).

It is our pleasure to inform you that Andreina Degli Esposti, Equity Partner of Studio Legale Villata, Degli Esposti, Perfetti e Associati, will be speaking at "Lloyd's-ILLCA Meet the Market" event, where she will dissertate the unique relationship between Lloyd's of London Insurance Market and Public Administrations in Italy. The talk will be geared towards local intermediaries and risk managers, as well as brokers and underwriters from the London Market. The event will take place on 2nd October 2014 between 14:00 and 19:30 and will be held at Palazzo Mezzanotte, Piazza degli Affari 6, Milano.

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VEGAS LEX on structuring venture deals

September 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 25, 2014, the VEGAS LEX law firm, the VEB Innovations Fund and the Innovation and R&D Directors Club (IR&D club), organized a roundtable conference, Corporation - Startup: Reaching for Mutually Beneficial Cooperation. The event was supported by Russian Venture Company.

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VEGAS LEX experts speak at Federal Road Agency Board on PPP projects and contract system

September 2014. Press Releases by Vegas Lex Law Firm (view listing).

On September 18, 2014, the Federal Road Agency (Rosavrodor) Board met in Sochi before the Sochi-2014 International Investment Forum. The VEGAS LEX experts attended the meeting.

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AstapovLawyers Holds Compliance Workshop for Energoatom

September 2014. Press Releases by Astapov Lawyers International Law Group (view listing).

On 12 September 2014, AstapovLawyers has held a Compliance Workshop for employees of Energoatom, a national nuclear energy generating company.

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AstapovLawyers Successfully Represents Delta Bank

September 2014. Press Releases by Astapov Lawyers International Law Group (view listing).

AstapovLawyers has successfully represented Delta Bank, one of the major Ukrainian banks, in a USD 71 million dispute against a Ukrainian tycoon, an owner of a significant agricultural group of companies in Ukraine.

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Ivan Lishchyna Speaks on Practical Problems of International Arbitration in Ukraine

September 2014. Press Releases by Astapov Lawyers International Law Group (view listing).

Kyiv, 23 September 2014 - Ivan Lishchyna, Counsel, has taken part in the conference and students seminar "The relationship between alternative dispute resolution and ordinary courts: New trends in the Ukraine, Germany, Poland and other countries" organized in terms of collaboration with Institute for Eastern European Law, Munich. The event took place in the Institute of Legislation of the Verchovna Rada of Ukraine on September 8 - 10, 2014.

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Luxembourg - Cayman Private Equity Structures

September 2014. Press Releases by Ogier (view listing).

Fund formation

Global portfolio structuring

Many North American asset managers domicile investment funds with a

Delaware-Cayman master-feeder fund which then invests globally via

Luxembourg portfolio acquisitions structures.

This briefing summarises some key characteristics of such structures, as

illustrated in the following, simplified chart. Ogier Legal is the only international

law firm able to provide integrated advice on both the Cayman and Luxembourg

aspects of these funds, working with managers' lead, US counsel.

Read more…

Issues for trustees of Guernsey trusts when foreign couples divorce

September 2014. Press Releases by Ogier (view listing).

This briefing is intended to provide a general overview of some of the issues to be considered by trustees of Guernsey trusts and their advisers when foreign couples connected with the trust divorce.

This briefing note is not applicable to any particular circumstances and should not be regarded as a substitute for specific legal advice. Equally it is not intended to be comprehensive in its scope and it is recommended that clients seek legal advice on any proposed decisions prior to taking steps to implement them.

Guernsey has legislated to incorporate strong firewall provisions in its Trusts (Guernsey) Law, 2007 ("TGL"). These are designed to protect trustees of Guernsey trusts by ensuring that any questions concerning validity of the trust or dispositions (transfer of assets into them) are decided in Guernsey, in the court of the trustees' home jurisdiction and are to be determined according to the law of Guernsey without reference to foreign law[1]. There is a "carve out" in relation to dispositions of property into the trust where the property is either not owned by the settlor, or he has no power to make the disposition, in which case the Guernsey courts will recognise the law of a foreign jurisdiction in order to determine whether the settlor was the owner of the property or had the right to dispose of it. Thus, the TGL will not avail a foreign settlor who has settled assets into a Guernsey trust which for example he obtained by fraud or theft as constituted under his foreign domestic law[2].

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Zavadetskyi Advocates represented Canadian citizen on defense side

September 2014. Press Releases by Zavadetskyi Advocates (view listing).

In January 2014 - July 2014 Zavadetskyi Advocates advised and represented a Canadian citizen who had been imprisoned in Ukraine for serious crime and criminal investigation against whom raised many questions as to its integrity and impartiality. Along with their client, Zavadetskyi Advocates also advised a US charitable institution that provides social services internationally to people in crisis situations. The client has been released from the sentence several years before time and was able to leave Ukraine.    

Team of criminal advocates for this case was led by director of the bureau advocate Oleksandr Zavadetskyi.

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Luxembourg Corporate - Foreign direct investment - Structuring the equity

September 2014. Press Releases by Ogier (view listing).

As one of the leading global jurisdictions for structuring foreign direct investment (FDI), Luxembourg has developed a sophisticated framework to enable the financing of such investments.

The optimum balance of financing instruments in relation to any structure will vary according to its particular circumstances, including the laws applicable to the investors, the laws of the jurisdiction of the assets into which investment is made and commercial decisions as to the appropriate mix of bank finance and own funds. However, one factor that all Luxembourg domiciled FDI structures have in common is the requirement for an appropriate level of equity investment. Whilst the level of equity investment will also vary according to the circumstances of the particular investment structure, noting in particular the requirements of applicable debt-equity ratios, the corporate structuring of that equity investment will be largely a matter of commercial choice for investors and fund managers.

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Azmi & Associates advises on Biodiesel Plant Acquisition

September 2014. Press Releases by Azmi & Associates (view listing).

Azmi & Associates recently advised Felda Global Ventures Holdings Berhad (‘FGVH') in a corporate transaction via its subsidiary, Felda Global Ventures Downstream Sdn. Bhd. (‘FGVD') in a joint venture agreement involving two other parties namely M2 Capital Sdn Bhd. (‘M2 Capital') and Benefuel International Holdings S.A.R.L. (‘Benefuel') which is a subsidiary of Benefuel US, through which an SPV will be incorporated to acquire a biodiesel plant. The JV company has agreed to acquire a biodiesel plant ("Plant") located at Gebeng, in the East Coast of Peninsular Malaysia from Mission Biofuels Sdn. Bhd. (‘MBSB') for a USD twenty two million and five hundred thousand (USD 22,500,000.00) (‘Plant Acquisition') under a Plant Purchase Agreement. The shareholding of FGVD, M2 Capital and Benefuel in the JV Company shall be 60% for FGVD, 20% for M2 Capital and 20% for Benefuel. The estimated project cost for the proposed joint venture including the Plant Acquisition, licensing costs, purchase of catalyst, refurbishment and retrofit shall be USD forty seven million and five hundred thousand (USD 47,500,000.00). The nature of business of the JV Company shall be manufacturing and producing biodiesel using the retrofitted Plant and other ancillary activities.

 

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Azmi & Associates advises on Aviation Bid

September 2014. Press Releases by Azmi & Associates (view listing).

Azmi & Associates, in collaboration with another international law firm, has recently advised a local aviation company in a tendering process with [Australian government] for the provision of [aeromedical support services covering the southern part of Australia]. This bid exercise was taken via a Joint Venture [JV] arrangement between the local aviation company and an Australian organization, whom was advised by an Australian law firm. Both JV partners have committed a certain amount of [aircrafts] for this bid exercise. The value of the tender award is reported to be approximately in excess of USD 500 million for a period of 10 years. Azmi & Associates' depth of expertise in the aviation industry is expanding. Amongst other aviation deals handled by Azmi & Associates are aircraft financing, aircraft leasing and many more.

 

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Hengeler Mueller advises Neiman Marcus Group on the acquisition of mytheresa.com

September 2014. Press Releases by Hengeler Mueller (view listing).

Neiman Marcus Group LTD LLC announced that it has signed an agreement to acquire mytheresa.com, one of the world's leading online retailers for luxury fashion, from Christoph and Susanne Botschen and Acton Capital Partners. In addition, Neiman Marcus will also be acquiring the THERESA flagship luxury fashion store in Munich from the Botschen family. The transaction is expected to close later this year, subject to regulatory approvals and other customary closing conditions.

 

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Hengeler Mueller advises Deutsche Bank on financing of planned acquisition of Concur Technologies In

September 2014. Press Releases by Hengeler Mueller (view listing).

SAP SE plans to acquire Concur Technologies Inc., a leader in the market for travel and expense (T&E) management software. SAP is financing the acquisition through a credit facility agreement in an amount of up to €7bn arranged by Deutsche Bank to cover the purchase price, target debt refinancing and acquisition-related costs. The transaction is subject to Concur stockholder approval, clearances by the relevant regulatory authorities and other customary closing conditions. It is expected to be closed in the fourth quarter of 2014 or the first quarter 2015.

 

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Hengeler Mueller advises Siemens on sale of stake in BSH to Bosch

September 2014. Press Releases by Hengeler Mueller (view listing).

Bosch and Siemens have agreed that Robert Bosch GmbH will acquire Siemens' 50 percent stake in the joint venture BSH Bosch und Siemens Hausgeräte GmbH (BSH) at a purchase price of €3bn. In addition, Siemens and Bosch will each receive from BSH an additional distribution of €250m before the transaction is completed. The transaction, which still requires regulatory approval, will probably be completed in the first half of calendar year 2015. BSH will then become a wholly owned subsidiary of the Bosch Group. Under the terms of the agreement, BSH will also be allowed to produce and market household appliances under the Siemens brand over the long term.

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Nolan v. Minerva: Trustees and Dishonest Assistance

September 2014. Press Releases by Ogier (view listing).

In Nolan v. Minerva Trust & Others [2014] JRC 078A, the Royal Court delivered a salutary reminder of the high standards by which professional service providers in Jersey will be judged, and the need for scrutiny, careful reflection and demonstrable independence when taking investment decisions.  It also underlined the need to be robust, whatever pressure may be exerted, if there are (or should be) questions about the propriety of a transaction.

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AstapovLawyers Successfully Represents Canon Russia

September 2014. Press Releases by Astapov Lawyers International Law Group (view listing).

AstapovLawyers has successfully represented Canon Russia in a dispute with a Russian retailor LLC Fotosintez (Foto.ru brand) on abuse of rights in the surety agreement. 

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Channel Islands Securities Exchange Authority Limited (the Exchange): Continuing Obligations Chapter

September 2014. Press Releases by Ogier (view listing).

Channel Islands Securities Exchange Authority Limited (the Exchange): Continuing Obligations Chapter 8 debt securities 

This Client Briefing has been prepared for the assistance of the directors of companies which either have or are listing "debt securities" as defined in Chapter 1 of the listing rules (the Listing Rules) of the Exchange under Chapter 8 of the Listing Rules.

The Briefing sets out certain of the continuing obligations which an issuer is required to observe once any of its securities have been admitted to listing. This Client Briefing should be read in conjunction with the 'Channel Island Securities Exchange Authority - Debt Listing' Briefing.

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Kim & Chang: Top rankings in five practice areas - Chambers Global 2014

September 2014. Press Releases by Kim & Chang (view listing).

In the recent edition of the Chambers Global Guide, a leading global law firm directory published by Chambers & Partners, Kim & Chang was ranked as Band 1 (top ranking) law firm in Korea in five practice areas. In addition, Arbitration (International) practice has been named in Asia-Pacific region and Corporate/M&A practice has been named in China region.

 

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Kim & Chang: Top rankings for 12 practice areas - Chambers Asia-Pacific 2014 Guide

September 2014. Press Releases by Kim & Chang (view listing).

Chambers Asia-Pacific 2014 Guide, published by a leading legal publisher Chambers & Partners, announced the best law firms and lawyers in Asia-Pacific region selected based on their own research.

 

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Three new partners at Lubis Ganie Surowidjojo

September 2014. Press Releases by Lubis Ganie Surowidjojo (view listing).

Lubis Ganie Surowidjojo is pleased to announce that Dini Retnoningsih, Mochamad Fajar Syamsualdi and Ahmad Jamal Assegaf have become the 7th, 8th and 9th partners of the Firm on 1 September 2014.

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HERDEM Attorneys at Law Discussing TTIP in Turkey

September 2014. Press Releases by HERDEM Attorneys At Law (view listing).

HERDEM and GREENBERG TRAURIG ARE GOLD CO-SPONSORING THE "NEW ERA FOR TURKEY-U.S.-E.U PERSPECTIVE, TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIP:OPPORTUNITIES AND RISKS" CONFERECE ON 18-19 SEPTEMBER IN IZMIR,TURKEY

http://www.ttipizmir.com/  

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Concessions will attract investment to regional airport development projects

September 2014. Press Releases by Vegas Lex Law Firm (view listing).

From September 18-21, the capital of Winter Olympics, Sochi, will host the Sochi-2014 International Investment Forum, where VEGAS LEX partner Albert Eganyan will speak about private investment opportunities for regional airport infrastructure development.

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GSK expands Hamburg Office with Corporate-/Litigation-Team from Brödermann Jahn

September 2014. Press Releases by GSK Stockmann + Kollegen (view listing).

GSK Stockmann + Kollegen, continuing on its growth course, is steadily expanding its Northern German office in Hamburg. After the market's very positive reaction to the addition of the Corporate/M&A team led by the former Latham colleagues Max Wilmann and Andreas C. Peters last year, the firm is now staffing the field of international conflict resolution with a prominent addition:

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Slovenia: Schoenherr advises on privatisation of Ljubljana airport

September 2014. Press Releases by Schönherr (view listing).

Schoenherr advised the consortium of shareholders of Aerodrom Ljubljana -- headed by the Republic of Slovenia and the Slovenian Sovereign Holding (SDH) -- on the privatization of Slovenia's primary airport in Ljubljana. On 5 September 2014, the selling consortium signed a respective share purchase agreement with Fraport AG under which the Frankfurt Stock Exchange-listed airport owner and manager will pay EUR 177.1 mn for a 75.5% stake in Aerodrom Ljubljana d.d. The completion of the transaction is subject to merger control clearance by the Slovenian Competition Protection Authority. As part of the privatization process, Fraport intends to acquire 100 percent of the Ljubljana airport management company and, thus, will (after completion of the transaction) submit a takeover bid to the remaining shareholders, in accordance with legal and statutory requirements. read more...

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VEGAS LEX supports PharmaStrategies-2015 summit

September 2014. Press Releases by Vegas Lex Law Firm (view listing).

On October 2 and 3 Moscow will host one of this business season's major events, the PharmaStrategies-2015 summit on the key issues for drafting pharmaceutical companies' 2015 strategies. The VEGAS LEX law firm will be the event's partner for the fourth time this year.

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Avellum Partners Closed Five Finance Deals in Q4 2013 and Q1 2014

September 2014. Press Releases by Avellum Partners (view listing).

Kyiv, 26 May 2014 - Avellum Partners reported that, during Q4 2013 and Q1 2014, it closed the following finance deals.

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B&A participates in the APEC Ease of Doing Business 2014 Stocktake Workshop in Beijing, China

September 2014. Press Releases by Budidjaja & Associates (view listing).

 

In 2009, APEC Leaders launched the Ease of Doing Business (EoDB) Action Plan which sets an APEC-wide aspirational target to make it 25% cheaper, faster and easier to do business within APEC economies by 2015. 

 

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FORTHCOMING NEW EDITION OF PROFESSOR VILLATA’S VOLUME ON PUBLIC SERVICES

September 2014. Press Releases by Villata, Degli Esposti, Perfetti e Associati (view listing).

Studio Legale Villata, Degli Esposti, Perfetti e Associati is pleased to announce the forthcoming publication of the sixth edition of Professor Villata's monograph entitled "Pubblici Servizi. Discussioni e Problemi" (Public Services. Issues and Debates) and issued by the law publishing house Giuffrè. The volume consists of an in-depth analysis of the much-discussed subject of public services and provides a remarkable intake on the matter from an exceedingly knowledgeable scholar, in light of recent developments in legislation and jurisprudence. 

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B&A becomes only Indonesian Law Firm member of TAGLaw Alliance

September 2014. Press Releases by Budidjaja & Associates (view listing).

Budidjaja & Associates becomes the Indonesian law firm member of TAGLaw, an international alliance of independent law firms

 

TAGLaw®, a leading global alliance of high-quality, independent law firms, has recently named Budidjaja & Associates (B&A) as its first and the only member for Jakarta, Indonesia. This puts TAGLaw's growing membership at 150 member firms that employ over 9,200 lawyers located in 320 offices across 84 countries around the world.


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AstapovLawyers Receives TOP Recognitions in Corporate/M&A and Tax in Ukraine

September 2014. Press Releases by Astapov Lawyers International Law Group (view listing).

AstapovLawyers has been recognized TOP-3 band in corporate/M&A and tax in Ukraine according to the latest survey 2014 by KyivPost, a well-known English speaking edition. The survey findings are based on a peer review conducted by the Kyiv Post in August of 90 law firms.

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Hengeler Mueller successfully represents Uber against prohibition order of the city of Hamburg

September 2014. Press Releases by Hengeler Mueller (view listing).

The Administrative Court of Hamburg decided on 27 August 2014 that Uber, a provider for a smartphone-app for on-demand transportation services, may continue providing its services in Hamburg. With its decision, the Administrative Court ordered the suspensive effect of the objection against the prohibition order of the city of Hamburg. The decision of the Hamburg authorities were formally unlawful as the traffic authorities were not the responsible authority and the prohibition order could not be based on the Passenger Transportation Act (Personenbeförderungsgesetz).

 

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The Company Administration Regime in Guernsey

September 2014. Press Releases by Ogier (view listing).

The Companies (Guernsey) Law, 2008 ("Companies Law") provides for companies, protected cell companies ("PCCs"), incorporated cell companies ("ICCs") and cells of PCCs and ICCs to be placed into administration and for an administrator to be appointed to manage that entity's affairs whilst the administration order remains in force.

The concept of administration in Guernsey was first introduced for PCCs in 1997, but has expanded its scope to cover all other types of companies that can be registered in Guernsey. Administration, like the equivalent procedure in other jurisdictions, provides insolvent companies with breathing space in order to maximise realisations and asset values without increasing liabilities, which, in turn, favours creditors.

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Luxembourg Corporate - International corporate migration

September 2014. Press Releases by Ogier (view listing).

A company incorporated and existing in one jurisdiction may consider it desirable to continue as a company existing elsewhere for a variety of reasons including, for example: to be in a time zone closer to investors; to conduct its affairs in a manner more familiar to its stakeholders; to benefit from a more modern and/or flexible statutory or regulatory environment and/or a more appropriate tax framework.

To achieve this, it may consider moving its domicile, thus changing its nationality and becoming subject to the preferred legal system. In this respect, companies that have been incorporated in other jurisdictions may choose to redomicile to Luxembourg. Equally, Luxembourg companies may look to move to other jurisdictions. Also known as 'continuance' or 'redomiciliation' in other jurisdictions, this process is generally known in Luxembourg as 'migration' and may be either inbound or outbound, depending on whether Luxembourg is targeted jurisdiction or the jurisdiction of origin.

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Kim & Chang: Best Law Firm for Asset Management - AsianInvestor Korea Fund Awards 2014

September 2014. Press Releases by Kim & Chang (view listing).

Kim & Chang has been named as the "Best Law Firm for Asset Management" from AsianInvestor Korea Fund Awards 2014, hosted by AsianInvestor affiliated with Haymarket Media Ltd, a global media company. It is the fourth consecutive year that the firm has been honored for this award.

 

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Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Anti-Money Laundering Update - Cyprus

    First uploaded on the International Bar Association's Anti-Money Laundering website.
  • Austria: Extension of the threshold regulation until the year 2016

    The "threshold regulation" adjusting (raising) the sub-thresholds of the Austrian Procurement Act ("BVergG") will be extended once again, namely for two more years. This plan was disclosed in the press briefing issued in conjunction with the retreat held by the members of Austria's federal government on September 27th and 28th this year. Thus, contracting authorities will continue to be able to benefit from substantial procedural simplifications when awarding contracts below the threshold in 2015 and 2016 as well. read more...
  • Serbia: Insolvency Act Amendments adopted

    As of 13 August 2014, the amendments and supplements to the Insolvency Act [Zakon o stečaju] are in force, published in the Official Gazette of RS no. 83/2014 ("New IA"). The New IA shall not be implemented retroactively, and those insolvency proceedings that were ongoing on the day the New IA entered into force will be continued under the previously valid rules. read more...
  • Hungary: New advertising tax feels like a bucket

    Hungary's new advertising tax, which has been introduced effective as of 15 August 2014, affects not only media companies, online and offline content providers and advertising agencies (media companies), but may also affect regular manufacturing and trading companies active in various industry segments (commercial companies). read more...
  • Voluntary ex ante transparency notice does not provide a clean bill of health...

    The ECJ has ruled that the so-called "voluntary  ex ante  transparency notice" under certain circumstances does not preclude review authorities from declaring a contract ineffective if it was awarded without prior publication of a contract notice. Moreover, the ECJ ruled that review authorities must declare a contract ineffective if the contracting authority could not legitimately hold that that the conditions for directly awarding the contract were in fact satisfied (ECJ 11.09.2014, Case C-19/13 Fastweb SpA ). read more...
  • Austria / EU: Latest EU Sanctions against Russia

    After introducing the "sectoral sanctions" against Russia on 1 August 2014 (see our  Legal Insight of 1 August 2014 ), the sanctions regime has been tightened further on September 12 as set out in EC Regulation No 960/2014. read more...
  • Austria: Judgment sheds light on joint ventures under the country’s merger control*

    Austrian merger control continues to capture non-full-function joint ventures. Joint ventures covered by merger control are sheltered against parallel assessment under the Austrian rules against anticompetitive agreements (no dual control). read more...
  • Czech Republic: Mergers, or thick red lines?

    In its decision no. 29 Cdo 3068/2013 dated 19 June 2014, the Supreme Court of the Czech Republic ("SCCR") once again ruled on the issue of the irreversibility of the legal effects of registration of transformation in the Czech Commercial Register. read more...
  • Hosting service providers at gunpoint of the financial "sharks"

    Can you fully control the Internet?
  • Financial Services & Regulatory Autumn Update 2014

    In this Update, we look at some valuable lessons learned for all financial services businesses from recent JFSC examinations and investigations, as well as amendments to the Companies (Jersey) Law.    Read more...