On 21 September 2024, the Chief Public Prosecutor of the Belgian Competition authority (“BCA”) publicly announced that in the BCA’s investigations into agreements concerning subsidies granted for the delivery of newspapers and magazines in Belgium the BCA will for the first time also be prosecuting physical persons ...
In this issue, we present an overview of arbitration as a dispute resolution mechanism. This edition also includes some key takeaways from a recent debate in Stockholm on the relevance of Section 36 of the Contracts Act in commercial disputes. Additionally, we provide an update on the proceedings before the Court of Appeal concerning the temporary injunction granted by the Oslo District Court in the Norwegian climate case ...
Carey Olsen in Guernsey advises Phoenix Equity Partners on securing £600 million in new funds Phoenix's latest Flagship Fund will enable the firm to continue investing in high-growth, lower mid-market businesses across select sectors, while the launch of its Growth Partnership Fund will allow the firm to continue and extend its partnership with high-performing portfolio companies Nineteen Group ("Nineteen") and Envisage Dental ("Envisage") ...
The UK Government has now enacted secondary legislation to reflect the new “go live” date of the Procurement Act 2023 (the “Act”) on 24 February 2025. On 16 September 2024, the Procurement Act 2023 (Commencement No 3 and Transitional and Saving Provisions) (Amendment) Regulations 2024 (SI 2024/959) (“Amendment Regulations”) were made ...
Directors' duties on the insolvency of a BVI company At all times, directors of a company incorporated in the British Virgin Islands (the “BVI”) need to be aware of their role and responsibilities as director, in particular where the company is insolvent or of doubtful solvency ...
SyCipLaw Senior Partner and Head of Litigation Department Ricardo P.G. Ongkiko, Partners John Christian Joy A. Regalado, and Ma. Patricia B. Paz-Jacoba have authored the Philippine chapter in the newly released Chambers International Arbitration 2024 Global Practice Guide (GPG) ...
This newsletter gives a short overview of the latest legal and administrative developments when temporarily posting workers to Belgium. The topics covered are relevant for both foreign posting employers and Belgian service users. 1. The Limosa notification and the place of work: administrative clarifications When filing a Limosa notification for your posted workers, you must, amongst others, identify the place of work. However, this is not always easy to do ...
On September 15, 2023, the DOLE issued Labor Advisory No. 20, Series of 2023, providing new guidelines on the implementation of a Cancer Control and Prevention Policy and Program in the Workplace. Under the Labor Advisory, employers and their employees are required to adopt such program, which shall include the following areas: 1. promotion of a safe and healthy lifestyle, including the mental and social well-being of employees; 2 ...
ALRUD has received information from various sources indicating that this increase is under consideration. Reports suggest that the exit tax could rise to as much as ****40% of the valuation**** of the relevant asset. Despite conflicting information circulating in public sources, our contacts within the authorities have stated that ****no official decisions have been made**** regarding this matter ...
HR teams have a lot on their plate, but a key priority for 2024 is undoubtedly protecting the employee brand proposition. Our 2024 online programme is focused on supporting HR teams to do just this, equipping them with the tools they need to protect the employee brand proposition of the organisations they work for. Our latest webinar focused on what organisations need to do to manage conflicting protected beliefs ...
On 6 September 2024, the China Securities Regulatory Commission (CSRC) publicly released feedback regarding an application submitted by Mizuho Securities Co., Ltd. (Mizuho Group) for the establishment of Mizuho Securities (China) Co., Ltd. (“瑞穗证券（中国）有限公司”). If approved, Mizuho Group will become the fifth foreign financial group to establish a wholly foreign-owned (WFOE) securities company in China, joining the ranks of J.P ...
Quebec has set ambitious energy transition and industrial decarbonization targets. The shift to greener practices has to be taken in a context where our energy consumption could rapidly grow under the combined effect of a number of factors, such as the reindustrialization of our economy, population growth, transport electrification and the potential for artificial intelligence to consume vast amounts of energy ...
Carey Olsen advises Inflexion on closing of latest fund at £975 million The Fund was raised primarily through increased commitments from existing investors in less than five months, who on average doubled their investments from the previous fund, Enterprise Fund V. The Fund's investor base includes a diverse group of U.S. pension funds, insurance companies, and sovereign wealth funds ...
Chambers and Partners recently published its Enforcement of Judgments Global Practice Guide 2024. The Philippine chapter was authored by SyCipLaw partners Ramon G. Songco, Anthony W. Dee, Ricardo Ma. P.G. Ongkiko, head of the Firm's Litigation department, and Russel L. Rodriguez ...
Modern data protection rules are being introduced to tax-efficient jurisdictions like Bermuda and the Cayman Islands. It's increasingly vital to understand how to handle data in some less familiar territories for data protection. Advisers are familiar with the data protection laws which apply in the jurisdictions where many commercial businesses operate like the UK Data Protection Act, the UK/EU GDPR and the California Privacy Protection Act ...
Whilst talk of Rail Refrom is excellent news for a Sector that has been crying out for it, how much will it really impact the supply chain and what processes and protections are already in place to help the flow of contractual payments? As the Passenger Railway Services (Public Ownership) Bill awaits its second reading in the House of Lords on 7th October it is clear that there is a real focus on Rail from the Government ...
Force majeure remains a hot topic when it comes to contracts. Following the pandemic, Suez Canal blockage and international sanctions, parties to contracts have been looking at how to possibly recover their losses or minimise the effects of delays. One question that had arisen was whether contracting parties could be forced to find a way around the issues by being commercially minded, particularly where they had an obligation to use reasonable endeavours to overcome the force majeure event ...
Chambers and Partners recently published its Corporate Immigration Global Practice Guide 2024. SyCipLaw senior partner and Employment and Immigration department head Leslie C. Dy and partner Rodelle B. Bolante authored this year’s Philippine chapter ...
On September 9, 2024, the SEC announced it had settled Administrative Proceedings with nine investment advisers for violating the Marketing Rule. The violations involved distributing advertisements that included untrue or unsubstantiated statements of material fact or testimonials, endorsements or third-party ratings that lacked required disclosures. The following is a summary of the settled Administrative Proceedings ...
Over the last year, we have monitored a lawsuit in Georgia that alleged a hedge fund (“Fearless Fund”) violated 42 U.S.C. § 1981—the federal prohibition on racial discrimination in contracting—by operating a grant contest that awarded $20,000 grants to select small business owners, all of whom, by the contest’s express rules, had to be Black women. That case, American Alliance for Equal Rights v. Fearless Fund Management, LLC, settled yesterday ...
The UK Cabinet Office has just announced, in a brief statement that the date for the Procurement Act 2023 to enter into force has been postponed. At less than 2 months from the planned “go live” date which was slated for 28 October 2024, in a surprise announcement, the new Government has decided to push this back. The reasoning for the decision stems directly from the change in administration following this year’s General Election ...
A federal court has issued a nationwide injunction blocking enforcement of the Federal Trade Commission’s (“FTC”) new rule that would ban nearly all non-competition (“non-compete”) deals. The rule, issued on April 23, 2024 (the “Non-Compete Rule”), would broadly ban employer/employee non-compete agreements nationwide and was set to go into effect on September 4, 2024 (“Effective Date”) ...
September 11, 2024 By: Amber Healy, Craig Nickerson, and Spencer Adler On September 3rd, 2024, Los Angeles County’s Fair Chance Ordinance (“FCO”) went into effect, establishing new criminal background check requirements for employers in unincorporated areas of Los Angeles County. The FCO expands the limitations placed on employers by California’s Fair Chance Act (“FCA”) ...
Carey Olsen advises FitzWalter Capital on launch of ~US$1.4 billion fund The Carey Olsen corporate team advising on the Jersey aspects of the transaction comprised partner James Mulholland, counsel Thomas MacAdie and associate Charlie Hurst, working alongside onshore counsel Debevoise & Plimpton LLP and Jersey administrator J.P. Morgan ...
