June 2021 World Law Group Legal Updates

Antitrust & Competition 

CMS RUSSIA

Russia: Recently, President Vladimir Putin proposed to cancel approval of economic concentration transactions with the federal Anti-monopoly Service in cases where the book value of assets of the acquired company or its group does not exceed EUR 9.1 million. 

SORAINEN

Sorainen has launched a new service - communication with INTERPOL and EUROPOL - to help clients with preventative actions as well as challenging the international organization's activities and with the data processed by them.

Artificial Intelligence

WLG WEBINAR - June 23

Webinar: Proposed EU Regulation on AI - Impact and Ripple Effect: members of WLG's AI Group will explore the proposed EU legal framework for AI - what businesses institutions, and processes will be impacted; its implications; and the likely ripple effect to other jurisdictions.

Banking & Finance   

PLMJ
The Proposal for a Regulation of the European Parliament and of the Council on markets in crypto-assets, which amends the EU Directive on the Regulation on Markets in Crypto-assets was published last year.

SHEARN DELAMORE & CO.

Malaysia: Demarcating the Bank's Duty in Investment Scams - in this article, partner Yee Mei Ken, and associate, Mattheus Goon, discusses a recent High Court decision on demarcating the bank’s duty in investment scams.

Cannabis

CHANDLER MHM LIMITED

Thailand: The country continues to be a regional leader in creating a regulatory regime for the liberalization of the use of hemp and cannabis.

HUNTON ANDREWS KURTH LLP

United States: Recent NCUA enforcement action underscores the ongoing importance of compliance with FinCEN Guidance for banking with marijuana-related businesses.

Compliance & Investigations

BRUCHOU, FERNÁNDEZ MADERO & LOMBARDI ABOGADOS

Argentina: Bruchou participated in the Bribery & Corruption Law Comparative Guide published by The Legal 500. The chapter provides insight about the current issues affecting the bribery and corruption practice and upcoming challenges for companies and legal professionals in Argentina. 

WLG NEWS

Compliance & Investigations Group: In a conversation with Drago Kos, Chair of the OECD Working Group on Bribery in International Business Transactions, World Law Group asked him about the new requirements for companies that the OECD is envisaging to recommend as part of the ongoing consultation process to review the 2009 OECD Anti-bribery Recommendation, the agreements reached within the working group on multi-jurisdictional investigations, and other initiatives he is leading as Chair of the WGB.

Dispute Resolution

WONGPARTNERSHIP LLP

Singapore: The Singapore High Court has found in favor of a Singapore-incorporated petrochemical wholesale company which received a margin for acting as an intermediary in a credit sleeve arrangement with other parties to facilitate the sale of fuel oil in Goodwood Associates Pte Ltd v Southernpec.

PLMJ

Portugal: Legal finance: what is it? With its roots in the late 1960s, legal finance allows companies to access new sources of funding enabling them to exercise their rights in the event of litigation (through recourse to courts and arbitration tribunals).

Energy, Mining & CleanTech

SANTAMARINA Y STETA S.C.

Mexico: In May, the Ministry of Energy published the decree amending the Hydrocarbons Law, which intends to reverse the energy reform enacted at the end of 2013, of which the main purpose was the opening of a free market and to promote free competition.

GUYER & REGULES
Uruguay: The Uruguayan government seeks an energy transition, promoting the decarbonization of transportation and manufacturing, in order to reduce the reliance on fossil fuels in these sectors. 

Human Resources

FAEGRE DRINKER

United States: Many employers, reflecting on the challenges created by COVID-19 in 2020, have temporarily bypassed traditional performance scoring in favor of more flexible rating schemes. But as organizations settle into a new paradigm with expanded remote work, should employers recalibrate expectations?

LANE POWELL PC

United States: Alaska employers received some welcome news from the Alaska Supreme Court that should help level the playing field when they must defend claims from employees under the Alaska Wage and Hour Act.

Infrastructure & Public-Private Partnerships

GUYER & REGULES

Uruguay: The firm advised Grupo Vial Oriental Dos in a Public-Private Participation Agreement with the Ministry of Transportation and Public Works for the rehabilitation and maintenance of roads in eastern Uruguay.

MINTERELLISON

Australia: The infrastructure building blocks of transport, telecommunications and utilities provide the foundation for most of our economic and social wellbeing. What will the infrastructure that is funded, designed and built in 20 years' time look like? MInterEllison interviewed industry heavyweights to provide their views in this Future of Infrastructure video series.

IP & IT

WONGPARTNERSHIP LLP

Singapore: The Personal Data Protection Commission published nine decisions between January and March 2021. A summary of the directions imposed for each of the decisions.

HUNTON ANDREWS KURTH LLP

Texas: The Western District of Texas is the busiest court in the country for patent litigation cases. There has been some movement on both motions to transfer and trial outcomes—learn more in this update.

International Corporate Transactions

DAVIES WARD PHILLIPS & VINEBERG

Canada: Mergers & Acquisitions: A Guide for Foreign Investment Banks and Bidders, 9th Edition offers guidance on the legal framework and the practical aspects of Canadian mergers and acquisitions, including critical tax and regulatory considerations. It is a resource for domestic acquirers, targets, investment banks, shareholders, directors and legal advisers.

PELLERANO NADAL
Dominican Republic: As the world is still dealing with the ongoing pandemic, buyers and sellers find themselves in a drastically altered market. The disruptions caused by COVID-19 have been unprecedented and will significantly alter the way M&A transactions will be approached in the future.

International Tax & Private Wealth

SORAINEN

Baltics: Here is an overview of most recent information on transfer pricing requirements in the Baltic States and Belarus.

BRUCHOU, FERNÁNDEZ MADERO & LOMBARDI ABOGADOS

Argentina: Bruchou represented one of the most important power generation companies in a lawsuit filed against the Province of Buenos Aires with the National Supreme Court of Justice (Corte Suprema de Justicia de la Nación CSJN), setting forth a strong precedent in the tax field.

International Trade Law

WEBINAR

Join WLG's International Trade Law Group for a webinar: EU, UK, and US Trade Sanctions: Application and Latest Developments. Panelists will discuss current sanctions, the basics of trade sanctions (background, to whom they apply, penalties, etc.), the possible extraterritorial application of sanctions, and the latest developments.

LANE POWELL PC

United States: The U.S. is experiencing dramatic cost escalation and material pricing pressures, both locally and abroad. Prices for lumber, brick, steel and aluminum have soared, and costs for cement and rebar may also be rising.

Life Sciences

CHANDLER MHM LIMITED

Thailand: The country has passed several amendments, regulations and notifications on the classification and registration requirements for medical devices. 

CMS RUSSIA

Russia: In May 2021, a law came into force, which changes and supplements the rules for the circulation of medical devices. 

Privacy & Data Protection

SOULIER AVOCATS

France: For several months now, ransomware cyberattacks have been on the rise. Recent attacks echoed by the media show that all types of organizations, whether private or public, can be affected, whatever their size.

ARNOLD & PORTER

United States: With ransomware attacks on the rise, potential targets in sectors including retail, food, healthcare and life sciences, critical infrastructure, financial services, and government must face the increasing likelihood that nefarious global actors will take their most critical systems hostage.

Restructuring & Insolvency Resolution 

HUNTON ANDREWS KURTH LLP

United States: In April, the United States Court of Appeals for the Fourth Circuit issued its decision in Siegel v. Fitzgerald, upholding the constitutionality of a 2017 law that substantially increased the quarterly fees debtors are required to pay to the Office of the United States Trustee (the “US Trustee”) in chapter 11 bankruptcy cases.

TAYLOR WESSING

Germany: A summary of the background and outcomes of Case C-73/20 – Oeltrans, an important ruling for liquidators faced with the avoidance of a third-party payment and a conflict of laws.

Venture Capital

WLG WEBINAR

Understanding SPAC Transactions: What it Takes to Be “SPAC Ready" - Panelists will discuss different SPAC structures, transactions from a target perspective, the process and timeline, issues that should be top of mind to be "SPAC Ready", legal challenges, and specific situations they've encountered.

TAYLOR WESSING

Germany: Trade Republic has closed its USD 900 million Series C financing round led by Sequoia Capital with participation from TCV, Thrive Capital and the existing investors Accel, Founders Fund, Creandum and Project A.

Have colleagues or friends who would like to receive updates from World Law Group?

Non-members can sign up using the button below to receive news, articles and global guides related to the practice and industry areas of their choice.

Sign Up!