Carey Olsen advises Transocean on US$1.8 billion senior notes offering and cash tender offers The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Transocean Ltd. and certain of the Company’s subsidiaries. The 2029 Notes will bear interest at the rate of 8.25% per annum and will be callable after 15 May 2026. The 2031 Notes will bear interest at the rate of 8.50% per annum and will be callable after 15 May 2027 ...
Carey Olsen advises Hipgnosis Songs Fund on proposed US$1.4 billion takeover The Boards of Hipgnosis and Concord Chorus Limited ("Concord") announced on 18 April 2024 that they had agreed the terms of Concord's recommended cash offer of $1.16 per share, which remains subject to shareholder approval, regulatory approval and the sanction of the Royal Court of Guernsey ...
The reception, hosted by Lord Borwick, focussed on how to operationalise the Automated Vehicles Bill (AV Bill), and realise its full potential, now that it is expected to receive Royal Assent and become law later this year. Despite the swift movement through Parliament of this landmark legislation - aimed at establishing a legal framework for the safe deployment of autonomous vehicles - the UK remains at the beginning of its regulatory journey ...
On April 15, 2024, the Financial Market Commission ("CMF") published for consultation the draft of the general rule (the “Regulatory Proposal”) that will regulate the Open Finance System ("OFS") established by Law No. 21,521 ("Fintech Law") ...
From 2 May 2024 Companies House is set to receive new powers to impose financial penalties for non-compliance with company legislation. Currently, the Registrar of Companies operates a civil penalty regime only for late filing of accounts. Under the new regulations (The Economic Crime and Corporate Transparency Act 2023 (Financial Penalty) Regulations 2024) the Registrar will be able to impose direct financial penalties for a wider range of offences under the Companies Act 2006 (CA 2006) ...
Do social media users have a fair choice between giving up their privacy and paying a subscription fee? The European Data Protection Board has given its opinion on what’s fair for large platforms in the latest shake up of personalised online advertising. When it comes to justifying processing personal data for targeted advertising under EU data protection laws, Meta (along with other online platforms) has been feeling the squeeze ...
On April 17, 2024 the Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) issued a Risk Alert regarding investment advisers’ compliance with amended Investment Advisers Act Rule 206(4)-1 (the “Marketing Rule”) ...
Carey Olsen advises Cuscaden Peak Investments on S$1.7 billion sale of student housing The acquisition brings Mapletree's housing portfolio to 33,000 beds across 47 cities in the UK, the US, Germany and Canada, and makes the Singapore-based real estate investor one of the largest owners of student housing in the UK ...
In the latest update to Kentucky’s Medical Cannabis Program (the “Program”), Governor Andy Beshear signed House Bill 829 which moved up the timeline to apply for cannabis business licenses by six months. Additionally, two emergency regulations were issued by the Program that explain how to apply for a cannabis business license ...
Earlier this month, the UK Joint Taskforce (UKJT) formally launched the Legal Statement on Digital Assets and English Insolvency Law. The statement aims to provide clarity to critical legal questions regarding how digital assets are treated in any insolvency. Shoosmiths contributed towards the consultation for this legal statement through the Crypto Fraud and Asset Recovery network ...
Two Montréal landmarks have proudly hosted some of the city?s most memorable sporting events. The Olympic Stadium and the IGA Stadium (Figures 1 and 2), which have been and remain quintessential in our sporting history, are in need of renovations so that sports fans can continue to ?raise the roof? for years to come. Figure 1: The Olympic Stadium: A prominent feature of the Montréal skyline. Figure 2: The National Bank Open at the IGA stadium ...
On Monday, April 1st, 2024, the Chilean Government introduced in the Chamber of Deputies a bill which aims, on one hand, to establish regulations to facilitate and promote the transfer of technology and knowledge and, on the other, to enable and stimulate the creation and development of science and technology-based companies (“EBCT”) from higher education institutions ...
On April 23, 2024, the Federal Trade Commission (“FTC”) voted to issue a final rule banning non-compete provisions in most industries in the United States (“Final Rule”). Dinsmore attorneys were quick to publish the details and impact of the Final Rule, which is available here. This supplement focuses on the impact of the Final Rule on the healthcare industry ...
Five years ago, the Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) made several significant changes to certain distributions required pursuant to Internal Revenue Code (“Code”) Section 401(a)(9) (“Required Minimum Distributions” or “RMDs”). The changes related to the RMD ‘10-Year Rule’ (summarized in greater detail below) have proven to be particularly difficult to interpret ...
Carey Olsen advises Shanta Gold on £156.1 million takeover by Saturn Resources Limited The transaction saw Saturn Resources increase its offer from 13.5 pence per share to 14.85 pence per share in order to secure the required support of Shanta shareholders, resulting in the acquisition being approved by more than 80% of the Shanta shareholders who voted at the shareholder meeting to approve the scheme ...