Carey Olsen advises Digicel on sale of majority stake in Cricket Sporting Investments Ltd. Cricket Sporting Investments Ltd. is the holding company of CPL Limited, which is the operating entity behind the Caribbean Premier League ("CPL"). Founded in 2013, the CPL is the Caribbean's premier Twenty20 cricket competition ...
Tokenisation is the process of converting legal rights of a real-world-asset (“RWA”) into a digital token that is recorded on a decentralised ledger. Asset-referenced tokens (“ARTs”) can tokenise physical assets such as buildings and commodities; or intangible assets including bonds, equities, intellectual property, quarrying/mining rights or renewable energy credits. ARTs provide a decentralised and transparent way to manage and transfer ownership ...
On Dec. 11, Federal Trade Commission and the U.S. Department of Justice's Antitrust Division jointly withdrew the antitrust guidelines for collaborations among competitors. In place since April 2000, the guidelines purported to set forth an analytical framework for the agencies' antitrust enforcement policy under Section 1 of the Sherman Act, with respect to collaborative agreements between actual or potential competitors ...
Compliance with a key component of the EU’s Instant Payments Regulation (“IPR”) is mandatory as of the 9th of January 2025 ...
The new EU Product Liability Directive (Directive (EU) 2024/2853) represents a comprehensive overhaul of existing product liability laws, expanding the scope of what the law considers to be a "product" and the compensable harm a claimant can pursue. In this article we highlight the key features of the new Directive and look at what it means for businesses operating in or exporting products to the EU ...
A new netting law was published on 1 October 2024 as Federal Decree-Law No. 31 of 2024 on Netting (theNetting Law) and came into effect on 2 January 2025, repealing Federal Decree-Law 10 of 2018 on Netting (theOld Law). The Netting Law provides further clarification on both the legal recognition and enforceability of various financial contracts, and the ability to implement close-out netting (i.e ...
Several interesting cases have been decided both by the ordinary courts and by other dispute resolution bodies over the past year. We have also observed some emerging trends in dispute resolution. Key decisions from the Supreme Court include HR-2024-550-A. which involved the ownership of minerals. The landowner’s side was represented by SVW partners Øystein Nore Nyhus and Christian Reusch. From the insurance sector, HR-2024-2040-A is noteworthy ...
The financing activity in the Norwegian market in 2024 has been positively affected by stable interest rates and inflation levels on a downward trajectory. The US, the EU and Sweden have started their planned interest rate cuts. Although the expectation at the start of the year was that the Norwegian Central Bank would cut interest rates in 2024, a strong labour market and a weak currency have resulted in zero interest rate cuts so far ...
The Committee on Foreign Investment in the United States (“CFIUS”) is a federal interagency committee that is responsible for reviewing certain transactions by foreign persons (governments, individuals and businesses), if they threaten or affect the national security of the United States. In layman’s terms, the CFIUS is a federal body that reviews transactions by non-Americans that might threaten the U.S.’s security ...
Welcome to the new half-yearly review of Krogerus' highlights! In this newsletter, we will share recent case highlights, firm news and insights. Foreword As 2024 draws to a close, it has been a busy year at Krogerus, despite challenging market conditions and ongoing geopolitical uncertainties. While there is still a degree of darkness and uncertainty in the world, we are seeing positive signs in the transactional market, which often signal the start of economic recovery ...
Approximately 500,000 people die each year in England and Wales and burial space is running out. The problem is most acute in the major cities, where large parcels of available land are scarce and competition with developers is often fierce. (and will be more so if the Government’s commitment to reform planning laws to meet the nation’s housing needs comes to fruition) ...
In this edition, we offer a diverse range of content: First, we present an update on an upcoming case before the Supreme Court concerning section 36 of the Contracts Act. We will also provide some insights from a recent Supreme Court ruling on the insurance condition regarding sudden and unforeseen physical damage. Additionally, we discuss significant takeaways from the appeals judgment in the Dutch Shell case ...
Under South African criminal law, a life imprisonment sentence is the most severe form of judicial punishment that can be imposed upon a convicted criminal and is therefore reserved for the most serious offences. When a judge passes a life sentence, they must specify the minimum term that the offender must spend in prison before becoming eligible for parole, which is determined in accordance with section 51 of the Criminal Law Amendment Act 105 of 1997 ...
On December 3, 2024, the U.S. District Court for the Eastern District of Texas issued a nationwide preliminary injunction against enforcement of the Corporate Transparency Act (“CTA”).[1] The CTA, and its Reporting Rule, were set to require approximately 32.6 million existing reporting companies to file beneficial ownership information (“BOI”) reports with FinCEN by January 1, 2025 ...
Implications of the Finance (2025 Budget) (Jersey) Law 202- for property transactions Stamp duty relief for group company transfers Perhaps the most welcome change is the long-overdue introduction of stamp duty relief for group company transfers of immovable property. To date, transactions between companies within the same corporate group have been subject to stamp duty at the full rates, disincentivising corporate property restructures ...
Acquisition by a Company of its own Shares The Companies (Guernsey) Law, 2008 (as amended) (the “Law”) permits a Guernsey Company to acquire its own shares. Listed companies may use this mechanism to return surplus cash to shareholders, to enhance earnings per share or net assets per share, or to adjust gearing ratios. Listed funds may wish to provide greater liquidity in their shares, especially if the market for their shares is relatively narrow ...
Carey Olsen advises MNRPF on £450 million longevity swap transfer The transaction, which will form part of MNPRF's investment portfolio, protects MNRPF against longevity risk and enhances security for MNRPF members. The Carey Olsen Guernsey corporate team advising on the transaction comprised partner Tony Lane and senior associate Arya Hashemi. Linklaters acted as onshore counsel for the trustee and Eversheds Sutherland acted as onshore counsel for MetLife ...
Carey Olsen advises Keyex Limited on successful application for registration as a BVI VASP Keyex provides a platform for cryptocurrency exchange including buying, storing, trading and selling digital assets. Its registration is amongst the first to be approved under the VASP Act, which aims to position the BVI as a leading jurisdiction for digital asset innovation globally ...
SyCipLaw has contributed the Philippine chapter in the latest edition of The Legal 500: International Arbitration Comparative Guide. Senior Partner and Head of Litigation Department Ricardo Ma. P.G. Ongkiko co-authored the chapter with Partners Anthony W. Dee, John Christian Joy A. Regalado, and Ma. Patricia B. Paz-Jacoba ...
Family offices which choose to manage their global investments from Malta have been given a new legal exemption through a recent amendment in the applicable investment services rulebook of the Malta Financial Services Authority (“MFSA”). On the 27th of November 2024, the MFSA issued a circular titled “Establishment of Single Family Offices in Malta” ...
Carey Olsen advises Guernsey 'first of its kind' captive assisted buy-in The transaction involved the issue of a c£500 million BPA contract by M&G's wholly owned subsidiary, The Prudential Assurance Company Limited ("PAC"), to a UK pension trustee. As with a traditional buy-in transaction, under the BPA, PAC insures the trustee's liability to its pension scheme members ...
The presidential and congressional campaigns brought considerable disagreement on a number of platform issues that were constantly in the daily news cycle. Each brings their potential political polarization, yet we heard less about economic development incentives that often bring bipartisan support. Many of these vehicles lead to accomplishing the common goals of stimulating economic development and community revitalization ...
On Oct. 10, Attorney General Merrick Garland announced that TD Bank pled guilty to conspiracy to commit money laundering and agreed to pay over $1.8 billion in penalties to resolve the U.S. Department of Justice's investigation into money laundering and Bank Secrecy Act violations. When combined with agreements with the Federal Reserve, the Office of the Comptroller of the Currency and the U.S ...
SyCipLaw Senior Partner and Head of Banking, Finance & Securities Department Philbert E. Varona, Partners Mark Xavier D. Oyales, Ricardo Jesus E. Gutierrez, and Associate Marcella Maria L. Karaan contributed the Philippine chapter of the new Chambers Project Finance 2024 Global Practice Guide ...
