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 and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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A. INTRODUCTION
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A. INTRODUCTION
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The widespread problems relating to compliance with the Holidays Act 2003 have recently hit the headlines again.
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​New regulations will finally clarify that in most cases insider trading rules do not apply to a new issue of financial products.
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The date for the Select Committee to report to Parliament on the Overseas Investment Amendment Bill (the Bill ) has been extended to 21 June 2018. The Select Committee's report was previously anticipated on 31 May 2018. This delay is unsurprising given the substantial number of submissions to the Select Committee, and it is encouraging to see the Select Committee taking more time to work through the potential unintended consequences for businesses from the Bill.
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On 31 May 2018, the Australian Law Reform Commission ( ALRC ) released a discussion paper ​​ as part of its inquiry into class action proceedings and third-party litigation funders.
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Public consultation that could have far-reaching implications for business is underway on the Government's proposed Zero Carbon Bill, following the release of a Discussion Document by the Ministry for the Environment. There is currently no draft bill; the Discussion Document seeks feedback on key questions of policy and systems architecture that will underpin the legislative regime. This is an early opportunity for those affected to have their say on the Government's approach to some fundamental questions as it seeks to transition New Zealand to a net zero emissions economy. Consultation closes at 5pm on 19 July 2018.
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A select committee report on changes to overseas investment rules has proposed relaxing some of the planned restrictions on foreign buyers which could have hindered development, but the amendments raise a number of new issues that require close examination.
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Recent media reports have suggested that 100 per cent foreign ownership of companies in the UAE will now be permitted. The reports are based on a government press release regarding a UAE Federal Cabinet (Cabinet) meeting held on 20 May 2018.
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​​​The correct interpretation of New Zealand's double tax agreements ( DTAs ) is once again in the spotlight after a recent Court of Appeal decision treats them in the same way as private contracts. Previously, local and international rulings suggested the international context and purposes of ​such treaties should be taken into account.​
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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On 23 July 2018, Constellium Valais SA, a company of
the Constellium group engaged in the aluminium plate and extrusions businesses
for industry, aerospace and transportation applications, successfully completed
the sale of its aluminium rolling business assets in Sierre, Switzerland, to
Novelis Switzerland SA for EUR 200 million. The assets, consisting of real
estate, machinery and equipment, were previously leased by Constellium Valais
to Novelis Switzerland and both parties will continue to operate in Sierre
following the transaction. Concurrently with the asset sale, Constellium Valais
contributed the Sierre site's shared infrastructure to a newly established
50-50 joint venture with Novelis Switzerland.
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On 20 June 2018, the Cantonal Bank of Basel, which already holds 77.52%
of the share capital and the voting rights of Bank Cler Ltd., published the
preannouncement for a public tender offer for all publicly held bearer shares
of Bank Cler, which is listed on the SIX Swiss Exchange. Subsequently, Bank
Cler concluded a transaction agreement with the Cantonal Bank of Basel
regarding the public tender offer. The Cantonal Bank of Basel offers CHF 52 per
share of Bank Cler. Taking into consideration the results of the Fairness
Opinion of an independent Expert, the board of directors of Bank Cler
recommends to its shareholders to accept the offer.
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If there is reason to suspect that management has breached its duties, the shareholders of a GmbH, a type of a German private limited company, can request that a special audit be carried out.
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The beginning of the summer brought amendments to several employment-related laws. The most notable changes are presented below:
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Bell Gully partner Simon Watt  is the only New Zealand climate change expert ranked in international climate change rankings of Chambers Global for a fourth consecutive year.
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New Zealand listed companies attracted strong interest from buyers in 2017, producing the highest level of takeover activity seen in the past decade, according to a new update by law firm Bell Gully.
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In cases where damage or injury has occurred, it is increasingly common for the issue of D&O liability to take centre stage. For this reason, many companies have taken out a D&O insurance policy for their managers.
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Like commercial agents, authorized dealers may also be entitled to claim compensation after the relevant agreement has been terminated. For this to happen, certain conditions need to be fulfilled.
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The commercial agent’s right to claim compensation in the event of turnover increases with past clients comes up time and time again as a contentious issue. A ruling of the Oberlandesgericht (OLG) Celle, the Higher Regional Court of Celle, has now bolstered the position of commercial agents (Az.: 11 U 88/16).
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Leading law firm Bell Gully has appointed Anna Buchly as its new Chair.
