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02 April 2020
COVID-19: Governance: OJK introduces credit stimulus to mitigate pandemic impact (Indonesia)
Indonesia’s Financial Services Authority ( OJK ) has issued credit stimulus policies for Indonesian banks, relaxing credit scoring requirements and providing special treatment for loan restructuring.
31 March 2020
COVID-19: Pressure Points: Increased scrutiny of foreign investment into Australia in response to COVID-19 impacts (Australia)
On 29 March 2020, in response to the extraordinary economic implications of the COVID-19 pandemic, the Australian Government announced important temporary changes to Australia’s foreign investment review framework. These changes will have the effect of lowering the monetary screening threshold for...
31 March 2020
COVID-19: Pressure Points: Material Adverse Change conditions take centre stage (Australia)
Difficult situations can pose difficult questions. The current COVID-19 pandemic has brought into sharp focus material adverse change clauses in deals. The context, the condition, and the carve-outs to it, all need to be examined in determining whether a MAC has been triggered.
26 March 2020
The Fairness Doctrine: A Return to the Status Quo?
In October 2019, the Full Federal Court decision in ASIC v Westpac Securities Administration Limited [2019] FCAFC 187 ( ASIC v Westpac ) raised questions about the scope of the obligation on AFS licensees to act efficiently, honestly and fairly. Less than 6 months later, the Federal Court’s...
18 March 2020
COVID-19 People: Short guide for employers (Australia)
The COVID-19 virus is new, rapidly evolving and having a major impact on workplaces. The virus is giving rise to multitude of employment and safety-related questions in a context which has not previously been contemplated, on topics ranging from an employer’s payment obligations and dealing with...
13 March 2020
Japan - Australia M&A: Review and Trends (2017-2020)
This is the third year we have comprehensively reviewed the year’s Japan-Australia M&A deals and trends. Our findings and the trends remain consistent. Year on year there are more deals, more dollars and growing sector diversity. All indicators at present suggest that this trend should continue...
12 March 2020
The Panel in a Ned Kelly Country – 20 Years of the Australian Takeovers Panel
This week marks the 20 th Anniversary of the Australian Takeovers Panel. This publication commemorates this important milestone and features articles on the pivotal moments for the Panel over the last 20 years, current issues in M&A and the future of the Panel.
12 March 2020
ASIC Proposes New Guidance on Ongoing Fee Arrangements
ASIC is proposing to issue guidance on how it will regulate ongoing fee arrangements ( OFAs ). Depending on the position it takes, these arrangements, which have been challenging for the advice industry to comply with since they were introduced as part of the Future of Financial Advice reforms,...
28 February 2020
No more hiding: ASIC pursues criminal charges for defective disclosure of substantial holdings
ASIC has ramped up its enforcement of substantial holding disclosure by pursuing criminal charges against former Bellamy’s director, Jan Cameron, for alleged disclosure breaches. These charges follow the recent sentencing of a Nowra man to two years' jail for giving misleading information to ASIC...
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07 September 2020
London International Disputes Week 2020
We are pleased to announce that London International Disputes Week (LIDW) is returning for a second year in September 2020. Herbert Smith Freehills is proud to be associated with this key event, which celebrates London as a global centre for dispute resolution. 7 – 11 September 2020 For more...
03 April 2020
COVID-19: People: Temporary amendments to Modern Awards concerning leave entitlements (Australia)
The Fair Work Commission ( FWC ) announced that it proposes to temporarily vary 103 modern awards to: provide all employees (including full-time, part-time and casual employees) with a new entitlement of up to 2 weeks’ unpaid pandemic leave; and provide for employees, by agreement with their...
03 April 2020
COVID-19: Pressure points: German Start-Up Liquidity Programme 2020 (Germany)
On 31 March 2020, the German Federal Government (through the German Federal Ministry of Finance and the German Federal Ministry of Economy and Energy) has announced to provide further liquidity measures in light of the ongoing COVID-19 crisis, this time specifically tailor-made and shaped to...
03 April 2020
COVID-19: Posible impacto jurídico (últimas novedades) (España)
En los últimos días se ha publicado nueva normativa para hacer frente a la crisis sanitaria provocada por el COVID-19. Analizamos a continuación, los impactos más relevantes de las medidas que se incluyen fundamentalmente en el Real Decreto-ley 11/2020, de 31 de marzo, por el que se adoptan medidas...
03 April 2020
COVID-19: People: Flexibility provisions in Modern Awards (Australia)
Over the past week, the Fair Work Commission ( FWC ) has made determinations to vary the Clerks – Private Sector Award 2010 (the Clerks Award ), the Hospitality Industry (General) Award 2010 (the Hospitality Award ) and the Restaurant Industry Award 2010 (the Restaurant Industry Award ), to address...
02 April 2020
COVID-19: Pressure Points: Contractual Implications and Considerations under New York law (United States)
As the COVID-19 outbreak keeps impacting contractual performance, an increasing number of counterparties are seeking ways to avoid contractual liability for non-performance. Parties with contracts governed by New York law should consider a number of issues before attempting to excuse performance...
02 April 2020
COVID-19: People: Handling COVID-19 related health information (Australia)
The COVID-19 pandemic has led to information gathering and sharing that has, up until now, not been contemplated by many Australian organisations. Businesses are dedicating resources to implement essential measures aimed at responding to COVID-19 and protecting the health of their personnel and...
02 April 2020
COVID-19: People: ADGM issues new COVID-19 circular regarding employees - 5 key points (Abu Dhabi)
The Abu Dhabi Global Market (“ ADGM ”) is an economic freezone located in Abu Dhabi, with its own set of civil laws based on the law of England & Wales. The ADGM’s Registration Authority (“ RA ”) issued Registration Authority Circular No. 14 of 2020 on 29 March 2020 (“ Circular ”), its most...
02 April 2020
COVID-19: PRESSURE POINTS: Right vs obligation to file for insolvency (Spain)
In Spain individuals and entities have an obligation to file for insolvency if they are unable to regularly meet their obligations within two months of the position of insolvency coming to light. Breach of that obligation could lead to civil (and even criminal) liability.
02 April 2020
COVID-19: Governance: OJK introduces credit stimulus to mitigate pandemic impact (Indonesia)
Indonesia’s Financial Services Authority ( OJK ) has issued credit stimulus policies for Indonesian banks, relaxing credit scoring requirements and providing special treatment for loan restructuring.
02 April 2020
COVID-19: Pressure Points: US Securities Disclosure Implications for Foreign Private Issuers (United States)
Many companies are facing operational and other challenges as a result of COVID-19 and satisfying securities disclosure and financial reporting obligations is certainly one of them. In this memo we describe how US securities law disclosures are likely to evolve in the coming weeks and months in...
