Legal Update
May 17, 2013
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Mayer Brown Legal Update
On May 14, 2013, a new collective bargaining agreement (Tarifvertrag) (“CBA”) for the Metal and Electricity Industry has been concluded between the Bavarian employers’ association for the Metal and Electricity Industry “VBM” and the Bavarian section of the nation-wide trade union “IG Metall”.
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Mayer Brown Newsletter
Competition; State Aid; Trade & Customs; Internal Market & General; Financial & Taxation; Industry, Enterprises, Research; Agriculture & Fisheries; Energy; Environment; Health & Consumer Protection; Telecoms & Medias; Justice & Home Affairs; Euro & Economy; Future of Europe; External Relations & Accession
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Media Coverage
17 May 2013
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Global Legal Post
Article reports that Mayer Brown advised Wepa Hygieneprodukte GmbH on its inaugural €275 million high yield bond offering.
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Mayer Brown Newsletter
Competition; State Aid; Trade & Customs; Internal Market & General; Financial & Taxation; Industry, Enterprises, Research; Agriculture & Fisheries; Energy; Environmental; Health & Consumer Protection; Telecoms & Medias; Transport; Justice & Home Affairs; Euro & Economy; Future of Europe; External Relations & Accession
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Mayer Brown Legal Update
Companies that make share-based awards (such as share or stock options, LTIP awards or RSUs) to employees in the UK must file an annual report with the UK tax authority, HM Revenue & Customs (HMRC).
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Lettre d’Information
Mai 2013
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Réduction du budget défense : et si on donnait véritablement leur chance aux contrats de services?
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Mayer Brown Newsletter
Competition; State Aid; Trade & Customs; Internal Market & General; Financial & Taxation; Industry, Enterprises, Research; Environmental; Health & Consumer Protection; Telecoms & Medias; Transport; Justice & Home Affairs; Euro & Economy; Future of Europe; External Relations & Accession
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Mayer Brown Newsletter
We are pleased to present the May 2013 edition of our Trustee Quarterly Review.
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Mayer Brown Legal Update
The Enterprise and Regulatory Reform Act 2013 (the Act), enacted on 25 April 2013, will make changes to the process of assessing mergers, acquisitions and corporate joint ventures (“mergers”) when it comes into force in April 2014. It will not alter the turnover and share of supply thresholds that establish whether a deal qualifies for review; nor will it affect the test used to decide whether to block or clear a deal – this will continue to depend on whether the deal concerned will result in a substantial lessening of competition in any market.
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Media Coverage
15 May 2013
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New York Times
Alexandria Carr, a qualified barrister practising in London as Of Counsel with the Financial Services, Regulatory & Enforcement group, is quoted in an article about EU finance officials clashing over how quickly to establish a common fund and rule book for overhauling or closing down failing banks.
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Media Coverage
15 May 2013
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Reuters
London Corporate & Securities partner Kate Ball-Dodd is quoted in an article about stricter takeover rules coming into force in September that will affect foreign-managed companies trading on Britain’s Alternative Investment Market.
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Mayer Brown Legal Update
When negotiating a loan portfolio transaction (whether for performing or non-performing loans), it is crucial at the outset of the negotiation that the potential seller and the bidders/ potential buyers agree on the transaction’s general terms and conditions.
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Mayer Brown Newsletter
Competition; State Aid; Trade & Customs; Internal Market & General; Financial & Taxation; Industry, Enterprises, Research; IP Rights, Trade Marks, Patents; Agriculture & Fisheries; Energy; Environment; Health & Consumer Protection; Transport; Justice & Home Affairs; Euro & Economy; Future of Europe; External Relations & Accession
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Mayer Brown Newsletter
Competition; State Aid; Trade & Customs; Internal Market & General; Financial & Taxation; Agriculture & Fisheries; Energy; Health & Consumer Protection; Telecoms & Medias; Euro & Economy; Future of Europe; External Relations & Accession
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Media Coverage
13 May 2013
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Outsource Magazine
Bylined article by head of Corporate in London Peter Dickinson and Corporate & Securities senior associate Megan Paul looks at the importance of governance for outsourcing companies in 2013.
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Leading global law firm Mayer Brown represented Wepa Hygieneprodukte GmbH, a leading, family-owned producer and supplier of tissue products in Europe, on the inaugural offering of €275 million of its 6.500% Senior Secured Notes due 2020 and on a new €90 million Senior Revolving Credit Facility.
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Mayer Brown Newsletter
In this edition of Mayer Brown’s Global Energy Industry Review, we look at the Brazilian use of the phrase “local content,” which has begun to appear more frequently in the laws, internal policies and tender protocols of governments and companies around the world, particularly with regards to the oil & gas industry. We also explore how the local content requirement is affecting research and development in Brazil’s oil & gas industry.
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Mayer Brown JSM has published its Guide to Doing Business in Myanmar (May 2013). The guide includes information of interest to foreign and local investors and explains various legal issues that may arise when doing business in Myanmar.
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Media Coverage
11 May 2013
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Estates Gazette
Bylined article by Real Estate partner Martin Wright looks at Asian investment in London’s real estate sector following the Sinar Mas deal.
This article was first published in Estates Gazette, 11 May 2013.
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Media Coverage
10 May 2013
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Accountancy Magazine
London Commercial Dispute Resolution partner Stuart Pickford is quoted in an article about the Supreme Court judgment in the Pitt and Futter v HMRC case.
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Mayer Brown Legal Update
Nearly three years after the High Court decision on the case of BNY Corporate Trustee Services Ltd v Eurosail UK 2007 – 3BL PLC and others was handed down, the case has run its course in the Supreme Court. The case, which considers the correct interpretation of the balance-sheet insolvency test in section 123(2) of the Insolvency Act 1986, is of importance to insolvency practitioners, financial institutions, legal advisers, company directors and companies.
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Media Coverage
9 May 2013
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The Lawyer
Article reports on the Court of Appeal’s ruling in the £400m Northern Rock appeal case, a victory for London Litigation partner Stuart Pickford who acted for the Independent Valuer of Northern Rock.
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Media Coverage
9 May 2013
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Mayer Brown Legal Update
In this issue: China: China Insurance Regulatory Commission raises cap for domestic investors in insurers; China: Insurers must implement new anti-money laundering rules by 2015; Hong Kong: Effect of new data privacy rules on direct marketing by insurance companies; Hong Kong: Launch of Risk-based Capital Model; Myanmar: Update on Insurance Industry; Singapore: Amendments to the Insurance Act; Singapore: Financial Holding Company Act 2013; UK: Chief Executive of the Prudential Regulation Authority ("PRA") voices concerns over the implementation of the Solvency II directive; UK: Director of Supervision for the FCA delivers speech on the importance of culture as the driving behaviour of firms and how the FCA will assess this; US: NAIC Spring 2013 National Meeting; US: Update on the NAIC Solvency Modernization Initiative (E) Task Force and its Working Groups; US: Reinsurance (E) Task Force and the NAIC List of Qualified Jurisdictions; US: Federal Home Loan Bank Legislation (E) Subgroup; US: Mortgage Guaranty Insurance (E) Working Group; US: President Obama's 2014 Fiscal Year Budget Proposes Deduction for Reinsurance Premiums Paid to Non-US Affiliates; Argentina: Amendments to Argentinean Insurance Laws
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On January 2, 2013, President Obama signed into law the American Taxpayer Relief Act of 2012 (the “Act”), which was passed by both the Senate and House of Representatives on January 1, 2013.
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