Legal News

Recently, in Cross v. L-M Asphalt Partners, Ltd., the Kentucky Court of Appeals upheld a contractor’s immunity from suit for negligence, where the contractor complied with the contract and construction specifications provided by the Kentucky Transportation Cabinet Divisions of Construction Procurement (KYTC). The case arose from a collision between a motorcycle and a car at an intersection where construction was being performed......By: Bradley Arant Boult Cummings LLP

Chinese real estate lenders lift APAC high yield bond issuance after an active Q3 - Leveraged finance in APAC (excl. Japan) showed signs of recovery in Q3 2020. The high yield market drove the rebound, which was tempered by a drop in leveraged loan activity....By: White & Case LLP

Australia requires a wide variety of investments by foreign businesses to be reviewed and approved before completion - The decision to approve or deny a foreign investment application is ultimately made by the Treasurer of Australia, based on an assessment of whether the investment would be contrary to the national interest. When making its decision, the Treasurer is advised by the Foreign Investment Review Board (FIRB), which examines foreign investment proposals, consults with other...By: W...

The UK government has introduced proposals for extensive new rules and review powers governing foreign direct investment across the UK’s critical infrastructure and defence industries. The new regime will introduce tougher measures, including mandatory and/or voluntary transaction notification requirements, on proposed foreign buyers of qualifying UK entities, assets and intellectual property in 17 sensitive industries....By: Pillsbury Winthrop Shaw Pittman LLP

On 11 November 2020, the UK Government published its long-awaited National Security and Investment Bill (NSI Bill). The NSI Bill introduces for the first time a new standalone regime for the screening of foreign investments in the UK on national security grounds and grants the UK Government extensive powers to “call in” transactions across all sectors of the economy, with no turnover or market share thresholds required....By: Cooley LLP

Change abounds in 2020, particularly in the legal world. Amendments to laws and government policies are redefining how companies conduct business. Competition law and foreign investment review are among the areas most impacted by the current circumstances....By: Blake, Cassels & Graydon LLP

Pittsburgh-based PNC Financial Services Group has reached a deal worth some $11.6 billion to buy the U.S. operations of BBVA, a Spanish lender. The mash-up, “one of the biggest banking deals since the 2008 financial crisis,” catapults PNC into the 5 spot among America’s biggest retail lenders....By: Robins Kaplan LLP

Since COVID-19, deals involving foreign state-owned enterprises or enterprises related to public health or the supply of critical goods and services are increasingly subject to review - The Investment Review Division (IRD), which is part of the Ministry of Innovation, Science and Economic Development Canada (ISED), is the government department responsible for the administration of the Investment Canada Act (ICA), the statute that regulates investments in Canadian businesses by non-Canadians......

On 11 November 2020, the UK Government announced its long-awaited and far-reaching proposed reforms to its existing powers to scrutinise foreign investment in the UK, especially in relation to sectors deemed to be particularly sensitive from a national security perspective. In summary, the National Security and Investment Bill (“NSIB”) increases significantly the Government’s existing enforcement powers, by essentially introducing a standalone, CFIUS-style, foreign investment regime....By: P...

The UK government’s long-awaited National Security and Investment Bill (the Bill), which paves the way to significant changes in the UK’s regime for screening foreign investment, was laid before Parliament on 11 November 2020. While the text of the proposed legislation will require detailed analysis, it is already clear that the regime will provide for a very different approach to screening national security and foreign investment in the UK than has existed to date......By: Skadden, Arps, Sla...