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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

 

Legal Developments Worldwide

Articles contributed by Foyen Advokatfirma AB

View the listing for Foyen Advokatfirma AB

Foyen recruits HR manager from Landshypotek Bank

April 2019 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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Foyen Advokatfirma has recruited Landshypotek Bank’s former HR manager Annelie von Dahn as its new HR manager. Annelie will be responsible for developing Foyen’s operations through its human capital and will serve in the firm’s management group, writes Foyen in a press release.

Johan Sköld from Chalmers Ventures strengthens Foyen’s board

April 2019 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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Foyen's Boardof Directors grows through the addition of Johan Sk√∂ld, a co-opted director from Chalmers Ventures AB. Johan's extensive experience in IT and business development further strengthens the board's work in developing Foyen into Sweden's leading law firm for project and technology-related law,writes Foyen in a press release.

Foyen has advised Mandalay Resources in 32 Million USD share issue

March 2019 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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Foyen has advised Canadian mining company Mandalay Resources Corporation inits marketed public offering of shares (subscription rights) on the Toronto stock exchange for aggregate gross proceeds of 43 million CAD (32 MUSD).Mandalay is the 100 % owner of the Bjorkdal gold mine in northern Sweden and the transaction has required legal opinions regarding all companies and permits in the Swedish business operation.

Foyen recruits lawyer from the Court of Appeal

March 2019 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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Foyen Advokatfirma has recruited lawyer Erika Stjärnström from the Göta Court of Appeal. Erika has joined the law firm's Construction business sector, writes Foyen in a press release.

Foyen assists Salem Municipality in a sale generating a profit of SEK 38 million

March 2019 - Real Estate & Property. Legal Developments by Foyen Advokatfirma AB.

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Foyen Advokatfirma, together with PwC, hasassisted Salem Municipality in a purchase and sale of a property over thecourse of a single day, generating a profit of SEK 38 million.

Foyen successfully represents client before the Court of Appeal

January 2019 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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Press release 18th of December 2018

Partner Jonas Nilsson and associate Johanna Lenell have successfully represented one of Foyen's clients before the Court of Appeal for Western Sweden. The judgment was issued on 18 December.

Proposal regarding mining waste could prove a costly business for mining operators

January 2019 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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On June 1, 2017 the Swedish Government decided to instruct an investigatory committee to analyze the potential actions or measures necessary to efficiently ensure that sufficient collateral security is in place in mining operations for remediation and other restorative measures. The investigation adopted the name the ‚ÄúThe investigation into financing regarding mining waste‚ÄĚ and was submitted to cabinet minister Karolina Skog in June 2018 (SOU 2018:59).

The Environmental Code contains general provisions regarding collateral security and guarantees concerning, for example, environmentally hazardous activities. The provisions also include remediation after mining operations wherein collateral security is provided to the State. To avoid that the State and, ultimately, taxpayers are forced to bear the cost of remediation in cases where a mining company, for example, goes bankrupt and the collateral security provided is insufficient to cover costs, the investigation has looked into alternative ways of providing collateral security that is more in line with the actual remediation (post-treatment) costs incurred by mining operations. In light of this, the investigation proposes that changes be made to the Environmental Code and the Minerals Act, and that a new law and associated regulations regarding financial collateral security for mining operations is introduced. The investigation has identified what it considered to be four key areas for reducing the State’s risk regarding remediation in mining operations.

The proposals made by the investigation committee can be summarized as follows:

Clarification of the purpose and objective of collateral security

According to the investigation committee the purpose of collateral security for remediation needs to be clarified. This recommendation has been made as, in the present preliminary work, it is stated that the purpose of collateral security is to minimize the risk of taxpayers bearing the cost of any potential remediation. The investigation also considers that the objective of providing collateral security is not sufficiently clear.

The committee therefore suggest that:

  • The amount of security shall be calculated to adequately cover any expected costs of remediation with a comfortable margin,
  • The requirements for remediation must be documented in a special post-treatment plan, wherein it is clearly stated what the post-treatment plan will achieve,
  • The post-treatment plan must be tried in conjunction with the process for a mining permit according to the Environmental Code and revised at least every five years,
  • The amount of collateral security should cover the cost of remediation in a situation wherein the operator is unable (for example due to bankruptcy) or unwilling to pay for post-treatment costs at a time until the next permit revision date. As it stands today, collateral security is usually set for the expected life time of the entire mining operation,
  • The amount of collateral security should be revised every five years, there after a new amount of collateral security should be determined for the next five-year period,

Mining operations should not be given permission to be carried out unless adequate collateral security has been provided. The investigation committee concluded that the current system regarding required collateral security is not sufficiently clear and therefore has proposed the revision of how the required amount of collateral security is calculated. The committee suggest that:

  • The operator must show that moraine of sufficient quality is available in the immediate area, if this is not the case the costs for soil improvement measures including transport must be considered and taken into account. According to the investigation this is due to the fact that it is assumed that high quality moraine is available in the immediate area when calculating the amount of collateral security needed,
  • The calculation should include an ‚Äúuncertainty surcharge‚ÄĚ - the amount of collateral security should, with 75 per cent probability, cover the cost of remediation. It is proposed that any costs surplus to this will be passed on to the State,
  • The calculation should take explicit account of future price and wage developments,

The requirement for separate collateral security under the Minerals Act should be removed for companies that provide collateral security for mining operations. Based on current regulations there are no restrictions regarding the type of collateral security that is considered acceptable. The investigation does not present any examples wherein the form of collateral security has posed a problem in connection with a claim. However the investigation still considers that the uncertainty that exists regarding the form of collateral security considered acceptable poses problems for both operators and the State. For this reason the committee proposes that only two types of collateral security be accepted:

  • Bank guarantees with standardized conditions as determined by the State,
  • Collateral security in the form of a cash deposit
  • Limitations on the amount and form of collateral security

In today's system, the collateral security is tried by the Land and Environmental Court and examined in conjunction with the application for a mining permit in accordance with the Environmental Code. The investigation committee is of the opinion that this implies an excessively fragmented governmental responsibility. The Land and Environmental Court makes decisions regarding both the amount and form of the collateral security, the State is often being represented in these cases by the Swedish Environmental Protection Agency or any of the relevant County Administrative Boards, which lack specialist competence in the field. This, according to the investigation committee, weakens the State’s ability to protect its interests.

The investigation committee therefore propose that:

  • The Land and Environmental Court is relieved of the task of deciding on the amount of the collateral security and that this task is transferred to the Swedish National Debt Office who will act as the supervisory authority regarding collateral security concerning mining waste remediation,
  • The review of post-treatment plans should be carried out by the Land and Environmental Court regarding renewing or amending permits for mining operations according to the Environmental Code and by the County Administrative Board regarding revisions.

We at Foyen see a number of major challenges with the proposals made by the investigation into financing regarding mining waste remediation. The first concern being the intention to limit the possibilities concerning the lodging of collateral security, even though the investigation committee has been unable to conclude that alternative forms of collateral security, in addition to those currently proposed, have caused problems. Furthermore, we have serious concerns regarding the proposal that collateral security should include a 75% uncertainty surcharge. This will amount to significantly higher costs for the mining operators. Additionally, the calculation of collateral security is based on the assumption that an external party will perform the remediation, which does not reflect reality in many cases. The proposals made by the investigation committee may even create complications in the judicial examination procedure carried out in the court system.

Overall, the investigation has exaggerated, at the expense of the operator, a remediation situation that, even in the worst-case scenario, is unrealistic.

It remains to be seen where the investigation committee’s proposals will lead after a proposal for new legislation is referred to the Legislative Council for consideration which may ultimately lead to a new government bill. Whatever the outcome we will be following the next steps with interest.

Do you have questions about mines or mining activities, for example questions regarding permits, agreements or land access?

Email: Pia Pehrson, Partner/Advokat, Foyen Advokatfirma pia.pehrson@foyen.se

Email: Björn Eriksson, Associate, Foyen Advokatfirma bjorn.eriksson@foyen.se

Foyen has advised Dragon Mining in Hong Kong Stock Exchange listing

December 2018 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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Foyen has advised Australian mining company Dragon Mining Limited in its listing of shares on the Hong Kong Stock Exchange (HKEX) on 5 November 2018. Dragon Mining is principally engaged in gold exploration, mining and processing with operating mines, pre-production mining assets and production plants in Sweden and Finland. Foyen's assignment has included environmental/permitting and corporate due diligence regarding the Swedish operation. The listing comprised a public offering for a total of 50,000,000 shares and the total funds raised were approximately HK$101 million(116 MSEK).

Foyen advised OX2 in the construction of the Nordic region's largest unsubsidised wind power project

November 2018 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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The renewable energy company OX2 has been engaged to construct four wind power farms with 25 wind power plants (107.4 MW) in Finland. This will be the largest unsubsidised wind power project to date in the Nordic region.

Careless limit values threaten the Mining Industry

May 2015 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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By lawyer/partner Pia Pehrson and associates Pelle Stubelius and Ludvig Gustafson, Foyen Advokatfirma

DEBATE. The Swedish Agency for Marine and Water Management suggests new limit values regarding uranium and copper and other substances. There is however, according to Pia Pehrson, Pelle Stubelius and Ludvig Gustafson at the Swedish law firm Foyen Advokatfirma, a risk that part of this proposition will prevent Swedish industry and mining operators from continuing their work.

Reforms for improved environmental legislation required

February 2015 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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By Pia Pehrson, partner, and Pelle Stubelius, associate; Foyen Advokatfirma

Sweden will soon have a government which will have a greater focus on environmental matters. There are a number of legislative actions that need to be focused on, but there are also some propositions that should be disregarded.

Mining in Sweden ‚Äď legislation and the latest trends

February 2013 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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Update and trends

2012 was another busy year for the Swedish mining industry, with solid numbers in production, exploration investments and extended exploration permits. The area comprising northern Sweden, Finnish Lapland, northern Norway, and north-western Russia is extremely rich in minerals and is still underexploited. International capital has found its way to this area and new business ventures are being launched by Canadian, Australian, UK and other international companies.

 

e-Commerce

December 2011 - TMT ( Technology, Media & Telecoms). Legal Developments by Foyen Advokatfirma AB.

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How can the government’s attitude and approach to internet issues best be described? Sweden has been at the forefront in deregulating the telecoms market and has encouraged the growth of competition in the broadband supplier market.

e-Commerce - 2009

July 2009 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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The government‚Äôs goal for IT policy is that ‚ÄėSweden must be a sustainable information society for all‚Äô. This implies an accessible information society with a modern infrastructure and IT services of public benefit. Sweden has indeed been at the forefront in deregulating the telecom market and has encouraged the growth of competition in the broadband supplier market. According to Statistics Sweden, 71 per cent of the population had broadband internet access in 2007, with total internet penetration reaching 80 per cent.

Getting the Deal Through: Construction - 2009

May 2009 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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Must foreign designers or contractors enter into a joint venture with a local contractor to design, build and be paid for their work? Does the law require that the local contractor control the joint venture?

There is no such requirement. A foreign contractor wishing to undertake a project can choose to establish a branch office, a subsidiary or contract through its company domiciled abroad.

Getting the Deal Through: Construction

March 2009 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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Must foreign designers or contractors enter into a joint venture with a local contractor to design, build and be paid for their work? Does the law require that the local contractor control the joint venture?

Introduction to rent-setting principles and tenancy rights according to the Swedish Tenancy Act

June 2008 - Real Estate & Property. Legal Developments by Foyen Advokatfirma AB.

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The Swedish tenancy legislation is protective legislation for tenants of commercial premises as well as residential tenants, where different rules apply for the protection of tenancy rights and rent-setting depending on whether the tenancy is related to a residential house or apartment or to premises to be used for commercial purposes. The purpose of this article is to illustrate the differences which currently exist between rents for commercial premises and rents for residential dwellings, as guidance for those who may be considering investing in apartment blocks in Sweden or are otherwise interested in the regulations governing the Swedish tenancy market. The article provides a survey of the fundamental principles which govern rent-setting in Sweden and provide protection of the rights of the tenants in the event of any rebuilding or demolition.

NEW LEGISLATION ON PUBLIC PROCUREMENT IN SWEDEN

May 2008 - Corporate & Commercial. Legal Developments by Foyen Advokatfirma AB.

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On November 21, 2007, the Swedish parliament passed the Act on Public Procurement (PPA) for the public sector and the Act on Public Procurement for the utilities sector (PPAU). The two acts were initiated by virtue of EC Directives 2004/17 and 2004/18, replacing the earlier directives that were the foundation for the existing Swedish legislation from 1992. The PPAU implements EC/2004/17 whereas the PPA implements EC/2004/18, and both entered into force January 1st 2008. Both laws shall, according to the transitional regulations, be enforced in respect of contracts initiated after this particular date. For the purposes of the acts, a public procurement has been "initiated" once the contracting authority has decided which procedure should be used or at the latest when the authority by an advertisement or in any other way asks for tenders. Hence, the previous act ‚ÄúLagen om offentlig upphandling‚ÄĚ (LOU) still applies to any public procurement initiated before January 1st 2008.

Increased liability in new Swedish environment law

August 2007 - Projects, Energy & Natural Resources. Legal Developments by Foyen Advokatfirma AB.

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The Swedish government has presented a bill to bring into force EC Directive 2004/35/EC of the European Parliament and the Council, of 21 April 2004 on environmental liability with regard to the prevention and remedying of environmental damage.