In the guide, Chambers notes: «I choose to work with them because they are the most active in the scale-up and startup community; they have compassion for new market entrants; and are passionate and know all the domain experts for money and payment institutions.»» says an interviewee. Another interviewee adds: «They are able to quickly understand the technological, economical, and legal aspects ...
The Chambers Global Guide ranks law firms and lawyers in more than 200 jurisdictions in selected disciplines. All subject areas are part of Chambers Europe, published in March. SVW is ranked within Banking and Finance, Corporate M&A, Oil and Gas, Dispute Resolution, and International & Cross Border Capabilities. SVW has two new lawyers entering the rankings, Sunniva Kinsella and Mathias Teir, as up and coming, as well as defending last year’s placements ...
The immediate crisis caused by the collapse of Silicon Valley Bank (‘SVB’) in the US has been averted with US regulators stepping in to help customers there, and HSBC buying SVB’s UK subsidiary (‘SVB UK’). But the collapse of Silvergate Capital, SVB and Signature Bank in quick succession has somewhat sharpened focus on the potential risks in the finance industry (notwithstanding the increase in regulation, particularly over recent years) ...
Slovak Investment Holding, a.s. (“SIH”) has launched the SIH Anti-Corona Guarantee as a new financial instrument employing European Structural and Investment Funds to help small and medium-sized enterprises (the “SMEs“) in Slovakia to overcome the financial difficulties and liquidity problems caused by the COVID-19 crisis and to help preserve employment and retain jobs ...
A recent Securities and Futures Commission (SFC) disciplinary action is a reminder of the need for managers to ensure there are systems and procedures in place to meet the short position reporting obligations of the funds that they manage. The SFC reprimanded and fined an asset manager HK$3 ...
Introduction Significant changes to Federal Law No 11 of 1992 (the Civil Procedure Code) will soon be coming into effect. These changes are introduced through regulations (the Regulations) issued under the Civil Procedure Code and will come into effect on 16 February 2019. The Regulations were promulgated pursuant to Decree by Law No 10 of 2017. These Regulations will amend the Civil Procedure Code where applicable ...
2020 was a year of unprecedented circumstances and change, and more change is coming in 2021—this time, in the form of significant modifications to the nationwide permitting program. On September 15, 2020, the Army Corps of Engineers (Corps) published a notice of proposed rulemaking to reissue and modify nationwide permits (NWPs), ahead of the usual five-year reauthorization schedule for the current 2017 NWPs ...
The use of a nominee corporationThe Act Respecting Duties on Transfers of Immovables (the ?Act?) imposes transfer duties (also known as the ?welcome tax?) on the transfer of immovables in Quebec.Since transfer duties are only payable from the time the transfer is registered in the land register (section 6 of the Act), some property structures make it possible, in practice, to avoid paying them ...
Back in 1999, a law was adopted renovating an autonomous regulator and putting in place a modern regime to govern securities and capital markets in Panama, placing the local regulatory environment very much in line with legislation in force in more developed markets such as the United States (including, for example, the creation of the indirect holding system) ...
The challenges of addressing COVID-19, government closure orders, the Paycheck Protection Program, Main Street Lending Facilities and digital banking made this past audit season more challenging than most. Not surprisingly, it has given rise to quite a number of potential significant deficiencies.1 Significant deficiencies that are not addressed will no doubt become “material weaknesses ...
In early April, the United States approved the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) authorizing $349 billion in a small business lending program called the Paycheck Protection Program (“PPP”). For franchising, this relief package seemed like a no-lose program ...
In early April, the United States approved the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) authorizing $349 billion in a small business lending program called the Paycheck Protection Program (“PPP”). Depleted within days by the overwhelming response from businesses across the country, Congress authorized an additional $310 billion for this program on April 23. With government money, however, comes government oversight ...
The High Court, County Court and the Magistrates Court have jurisdiction to hear civil matters in England and Wales, with the High Court dealing with the most complex and high value disputes. The County Court hears lower value debt, personal injury and contract claims as well as some technology, construction and patent cases. Until 22 April a claimant could choose to bring their claim in the High Court providing the figure claimed for was over £25,000 ...
In an 8-1 decision delivered by Justice Ruth Bader Ginsburg in the much-anticipated BOOKING.COM case, the U.S. Supreme Court has held that in some circumstances, a generic word combined with “.com” can be a protectable trademark. Generic marks are not eligible for trademark protection and are not actually marks at all. Instead, they are essentially the name for the product/service or type of product/service at issue ...
In a time when foreclosures are all too common, many secured lenders end up taking title to the real properties securing their loans. One of the questions, then, is should a lender obtain an owner’s title insurance policy or is the loan title insurance policy sufficient?As we all know, title insurance reduces the risk of the insured owner or lender by insuring one or both against loss or damage arising out of defects to or liens on title ...
Short term holiday lets in Jersey Following the introduction of the Planning and Building (General Development – Short-term Holiday Lets) (Jersey) Amendment Order 2024 (the "2024 Order") which comes in to force on 1 April 2024, properties may be used for the purpose of short-term holiday lets for up to 12 weeks in each calendar year ...
Buyers’ Default Clause 13 of Saleform 2012 regulates Buyers’ default. The potential Buyers’ defaults are quite restricted to payment defaults. There are no Buyers’ default linked to failure to take over the Vessel (like you often find in shipbuilding contracts) or failure to provide the agreed documents. Nor is it likely that a Buyer will pay for the Vessel but not accept physical delivery ...
Norway has acceded to the Cape Town Convention on International Interests in Mobile Equipment and its Protocol on Matters Specific to Aircraft Equipment (the «CTC»). The CTC has been implemented and given effect under Norwegian law as of 1 April 2011. It is still possible to register security interests over an aircraft with the Norwegian Civil Aircraft Registry («NCAR») ...
Contrary to what is the case in many jurisdictions, in Norway the business activity of lending is subject to strict licensing requirements. Only certain financial institutions are eligible for a license permitting them to conduct the business of lending in Norway ...
The London Interbank Offered Rate («LIBOR«) is arguably the financial world’s most important number; it is a proxy for banks’ marginal funding costs and serves as benchmark rate in millions of loans, floating-rate debt, and financial contracts. The publication of the LIBOR will in all likelihood, cease by the end of 2021. The shift from LIBOR is an immense change to global finance and will have far-reaching impacts on the financial services industry ...
What is it? A group account system (Nw: konsernkonto) («GAS«) is a technical solution a bank may offer its customers that simplifies the process for lending amounts within the customer’s group. It can be a useful tool for managing and controlling the liquidity in the group and ensuring flexibility for allocating liquidity within the various participating group members ...
With ‘financial assistance’ in this context, we refer to assistance granted by a company in connection with the purchase of the shares in that company or its parent company. The most common example is that a company grants a guarantee or security in connection with the purchaser’s financing of the purchase price for the acquisition of shares in the company ...
So called ‘direct agreements’ in the context of debt financing, has the main purpose of establishing a direct contractual relationship between a lender and the borrower’s counterparties for the purpose of enabling the lender to gain control over the borrower’s contracts. Direct agreements are most common for project financings and other facilities where the value of the assets being financed at large depend on the borrower’s contracts. Examples are e.g ...
Our Shoospeak HR podcast welcomes special guest Jonathan Naylor (Partner in the Shoosmiths' employment team) to discuss trade union communication strategies ...
Shoosmiths’ specialist construction and regulatory teams have provided a detailed response to the government’s consultation on implementing the new building control regime for higher-risk buildings under Part 3 of the Building Safety Act 2022. The firm’s response draws on its expertise working with key stakeholders in the construction industry and first-hand experience of the issues that are relevant to the proposed regulations ...
