Legal News

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...

Rep and Warranty Insurance (RWI) generally provides coverage for financial losses resulting from breaches of representations and warranties made by target companies or sellers in company purchase agreements. Like all insurance policies, RWI policies have exclusions. However, those exclusions, like RWI insurance, are highly specialized....By: Pillsbury - Policyholder Pulse blog

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

In the difficult market conditions which have accompanied the COVID-19 pandemic, the financial health of many industries has been adversely affected. The construction industry is no exception and the insolvency of a party to a construction contract would lead to a number of challenges from both the contractor and the employer’s perspectives. We discuss some key considerations and potential steps that could be taken by the employer and contractor where an insolvency event (e.g. liquidation,...By...

The growing importance of data to mergers and acquisition (M&A) transactions highlights the need to have effective due diligence, transaction structuring, and execution that addresses the growing demands of data protection and cybersecurity regulation in the Asia-Pacific (APAC) region. Please see full Publication below for more information....By: Hogan Lovells

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

Performance fees in UCITS and certain types of AIFs: ESMA guidelines - The European Securities and Markets Authority (ESMA) has published the official translations for guidelines on performance fees in UCITS and certain types of alternative investment funds....By: Hogan Lovells

Market Trends: What You Need to Know - One of the most pronounced practice-related trends in private company merger and acquisition transactions is the near-disappearance of target legal opinions as a closing deliverable. Originally published in Bloomberg Law - November 2020....By: Goulston & Storrs PC

Last month, the SEC announced that a public company had agreed to pay a $20 million penalty to resolve charges related to its repurchase of stock while supposedly in possession of material, non-public information (“MNPI”) that it might be acquired by another company. The SEC’s cease and desist order offers important lessons for assessing whether a company is in possession of MNPI in the context of ongoing M&A discussions....By: Goodwin