Highlights: Under Danish law, a majority shareholder owning at least 70% of the shares in a distressed bank is entitled to acquire the remaining shares by way of compulsory redemption subject to certain conditions. In a recent case the Danish Supreme Court has decided that treasury shares must be included when calculating the total number … Continued
Highlights: A key step in planning for an IPO is choosing the location in which to establish the holding company to list on a foreign exchange. Offshore holding companies are often used for Russian IPOs to increase investor comfort, avoid an extra layer of tax or tax compliance costs, avoid stamp duties in certain jurisdictions … Continued
Executive Summary: From time to time all businesses experience unforeseen legal issues and disputes which may quickly escalate into a crisis if not dealt with properly and in good time. This article suggests eight points to consider when developing a strategy to deal with a potential crisis, and may be particularly useful for foreign investors … Continued
Highlights: Recently, the Canadian federal government has been particularly solicitous of foreign investment involving state-owned enterprises (SOEs), so it was a surprise when the governmental rejected, for the first time, a proposal by an SOE in the oil and gas sector. The process for such approval is not transparent, but it would be prudent to … Continued
Highlights: Recently, the Competition Commission of India (“CCI”) has been imposing significant penalties in the range of 5% to 10% of the turnover of enterprises violating India’s Competition Act, 2002. In one cartel case, CCI imposed a penalty equivalent to 50% of the profits made by the concerned enterprises. CCI’s increasing penchant for imposing significant … Continued
This contribution is based on the Guide first published by China Law & Practice, in association with International Financial Law Review, Hong Kong, 2011.[/stextbox] Highlights: Latin American markets have put in a stellar performance in recent years and present ever-growing business opportunities to Chinese investors, as China becomes increasingly active and influential in the region. … Continued
Highlights The Australian public M&A market has seen more restrained activity in the 12 months to 30 June 2012, in line with global trends. The energy and resources sectors continue to dominate public M&A in Australia, accounting for about 50% of transactions. Success rates for transactions increased to 81% in FY2012, while the percentage of … Continued
Highlights: China’s two governmental regulators for anti-monopoly conducts in China announced that they will increase the transparency of their enforcement actions under the Anti-Monopoly Laws. One head of SAIC discussed its future goals: (1) to investigate those typical antitrust cases having serious impact on market competition; (2) to investigate monopoly conducts of public utility enterprises … Continued
Highlights: The Competition Commission of Singapore (“CCS”) has published its revised Guidelines on Merger Procedures 2012 and they came into effect on 1 July 2012. The changes provide further guidance to parties on determining whether a merger is likely to result in a substantial lessening of competition. They also set out a new procedure for … Continued
Executive Summary: The product of an extensive canvasing of sovereign wealth funds from around the world and a review of their respective best practices, Panama’s new National Savings Fund provides the government with a sophisticated and transparent investment vehicle to manage the country’s surpluses. Main Article: Riding off of an unprecedented period of prosperity and … Continued
