Legal News

One - SPACs (special purpose acquisition or "blank cheque" companies) have recently regained prominence in the US, with H1 2020 seeing record-breaking levels of activity, both in terms of value (Bill Ackman's $4bn Pershing Square Tontine is the largest SPAC IPO to date, eclipsing previous records) and volume (SPACs accounted for around 30% of all US IPOs in H1 2020). One of the reasons for the revived interest is that experienced founder teams can benefit from a dislocated market to find good....

The long-awaited modernization of German securities law has begun! Two Germany ministries have jointly published a draft law introducing a regime for dematerialized securities (electronic securities), including crypto securities, which provides for classic securities function such as bona fide acquisition. In the past, only certain electronic German government bonds could be issued in that way....By: Bryan Cave Leighton Paisner

A takeover of a French company carrying on so-called ‘sensitive’ activity in France by a company ultimately controlled by foreigners - European Union and non-EU - is subject to the prior authorization of the Ministry of the Economy, Industry and Digital Sector. The recent increase in foreign direct investment authorization requests and the announced veto position of the French state on the Photonis/Teledyne prompts us to review the main aspects of this authorization procedure and its...By: Bry...

For a fleeting moment, companies had the ability to raise capital on the New York Stock Exchange (“NYSE”) in connection with a direct listing (“primary direct listing”). On August 26, 2020, the Securities and Exchange Commission (“SEC”) approved a rule proposed by the NYSE that would permit companies to sell newly issued shares in connection with a direct listing. The rule was immediately effective upon SEC approval......By: Vinson & Elkins LLP

Aside from the long-awaited “Planning for the Future” White Paper, the big planning and development talking points of the summer have been the radical reforms to the Use Classes Order and the Permitted Development Rights (“PDR”) regime....By: Hogan Lovells

While some have been enjoying the return of baseball, albeit without fans in the stands, the Oakland A’s are moving forward with their game plan for a new stadium in the Port of Oakland. However, relations with their prospective neighbors are off to a rocky start. In March, stadium opponents led off by filing suit against the state and city of Oakland arguing the project is not eligible for an expedited CEQA review and litigation schedule. On Aug. 4, the A’s hit back, by filing suit against th...

Technology is constantly evolving the construction and engineering industries. Recent trends include:   - Big Data – using historical big data to improve efficiency - Artificial Intelligence (AI) – leveraging automation to increase productivity.......By: TransPerfect Legal Solutions

As the COVID-19 pandemic has raged on, financial institutions and banks have withstood its effects and are digitally transforming out of necessity. Many fintech companies, with technology at their core, are seeing double-digit growth. Large technology companies have proven to be critical partners to financial institutions by providing them with essential technologies. However, survival is not enough and sustaining growth will become more challenging in a fiercely competitive and highly regulated...

We are seeing a significant increase in cases where a qualified person (QP) or related engineering firm has prepared a technical report or other required disclosure for a mining company, but then resisted, or outright refused, to provide the written consent that the mining company is required to obtain in order to be permitted to disclose the name of the QP and the conclusions of the QP in a prospectus that forms part of an SEC registration statement for a public offering or for the mining...By:...

With a dramatically declined M&A market, companies continue to conduct sales processes, and transactions are being consummated despite the difficult economic environment. In this challenging atmosphere, it is more important than ever to select the proper financial advisor to effectuate a proposed transaction with the most appropriate terms and conditions. And the formal arrangement, the engagement letter, is crucial to align your interest with that expert to maximize price and the likelihood of....