18 December 2019
Responsible lending: ASIC publishes significant new guidance aimed at helping credit providers apply the law in practice
Consumer credit providers in Australia have been eagerly awaiting ASIC’s updated regulatory guide on the responsible lending laws ( RG 209 ), which landed on 9 December 2019 and is another significant development in the understanding of these laws.
10 December 2019
The ACCC pilots its first ‘effect test’ in misuse of market power proceedings
On 6 December 2019, the ACCC launched its first enforcement proceedings under the new ‘effects test’ prohibition on misuse of market power. The proceedings will provide much needed guidance as to how the much-debated ‘effects test’ will apply to unilateral conduct. It is noteworthy that the two...
04 July 2019
Depreciation is not to be deducted as a “saving” in calculating business interruption claims
Whether a reduction in non-cash costs such as depreciation following insured damage amounts to a “saving” to the policyholder which is to be deducted from insured Gross Profit in calculating business interruption losses is an issue which has been debated by claims professionals for many years. The...
09 July 2018
Comments on UK proposal for the future relationship with the EU
Last Friday, 6 July, it was understood that the UK Cabinet had finally united around a UK position on the desired future relationship with the EU. However, it now remains to be seen if the proposal survives the protests of “betrayal” heard from some quarters and the resignations of the Secretary of...
27 March 2018
UK GOVERNMENT AGREES ELEMENTS OF THE EUROPEAN COMMISSION’S PROPOSALS FOR POST-BREXIT PROTECTION OF EU-WIDE IP RIGHTS IN THE UK
In the latest draft of the Withdrawal Agreement (19 March 2018) the UK Government and European Commission negotiators appear to have agreed text providing for the replacement of EU-wide IP rights having effect in the UK with equivalent UK rights at the end of the transition period post-Brexit (...
14 February 2018
The UK's access to the EU's preferential trade arrangements
The position of the UK under the EU's preferential trade agreements following Brexit is likely to become a major complicating factor in the negotiations. UK-based companies that rely on such agreements should be warned of the potential difficulties that may arise. The EU has approximately 60...
12 February 2018
Syndicated facilities institute obtains legislative acknowledgement in Russia
On 31 December 2017 the President of the Russian Federation signed one of the laws which has been most discussed by the Russian banking and legal communities – Federal Law No. 486-FZ "On a syndicated facility (loan) and amendments to certain legislative acts of the Russian Federation" (the " Law...
05 February 2018
Brexit 'The view from Brussels' – developments in January
January was dominated by the strikingly public discussion of the content of the next supplement to the negotiating guidelines that the European Council finally adopted on 29 January. We discuss some features of these guidelines and their significance for the negotiations below. There was also much...
29 November 2017
Publicado el Real Decreto-Ley en materia de divulgación de información no financiera
El pasado sábado se publicó en el Boletín Oficial del Estado el Real Decreto-ley 18/2017, de 24 de noviembre, por el que se modifican el Código de Comercio, el texto refundido de la Ley de Sociedades de Capital aprobado por el Real Decreto Legislativo 1/2010, de 2 de julio, y la Ley 22/2015, de 20...
01 November 2017
The view from Brussels – Brexit negotiations – Developments in October
The Brexit debate often looks different viewed from Brussels rather than from London. It is however important for businesses to also keep in mind the Brussels perspective and therefore we publish a monthly view from our Brussels office on recent developments and the state of the negotiations.
09 August 2017
‘Broad, liberal and flexible’: the interpretation of arbitration agreements by the Australian courts
The recent Supreme Court of Western Australia decision of Fitzpatrick v Emerald Grain Pty Ltd  WASC 206 involved a successful application to stay proceedings and refer a dispute to arbitration pursuant to section 8 of the Commercial Arbitration Act 2012 (WA).
16 June 2017
High Court dismisses appeals: Finds that air cargo price fixing arrangements involved a market in Australia
On 14 June 2017, the High Court of Australia unanimously dismissed the appeals by each airline in Air New Zealand Ltd v Australian Competition and Consumer Commission; PT Garuda Indonesia Ltd v Australian Competition and Consumer Commission  HCA 21.
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...
22 May 2020
Insurance articles for The In-House Lawyer magazine, Spring 2020 edition
The insurance team at Herbert Smith Freehills has contributed two articles to the latest edition of The In-House Lawyer magazine. The articles consider important insurance issues that in-house lawyers should be aware of, especially in the current market.
21 May 2020
COVID-19: Governance: practical issues around signing and completion (UK)
Given the current restrictions on interaction which have been imposed by the UK Government and with a large number of people now working from home, it is not always possible to adopt the usual methods for signing and completing deals. We have summarised below some practical points to ensure...
21 May 2020
COVID-19: Governance: Corporate Insolvency and Governance Bill – major insolvency reforms proposed (UK)
The Government on 20 May 2020 published the Corporate Insolvency and Governance Bill, which contains the most far-reaching reforms to UK insolvency law in over 30 years. The Bill has been introduced on an emergency basis in an attempt to ensure that otherwise financially viable companies survive...
21 May 2020
COVID-19: Pressure Points: foreign direct investment regulation – drawbridges continue to rise in response to the pandemic (Global)
Foreign direct investment (“ FDI ”) regulation has featured increasingly on the radar for cross-border M&A, against a backdrop of amplified protectionist rhetoric. Even before the COVID-19 pandemic, a number of countries which have traditionally been seen as open to foreign investment were...
20 May 2020
COVID-19: People: Job Retention Scheme and Pensions (UK)
The Coronavirus Job Retention Scheme ("CJRS"), announced on 20 March 2020 and opened for claims on 20 April, has now been extended for the second time. Originally due to end on 31 May, then 30 June, the Chancellor announced on 12 May that it will remain in place and available to all sectors through...
19 May 2020
International trade and sustainable development: On level playing field, cross-linkages and cherry-picking
There was time when trade negotiations were just about reducing tariffs and quotas. That was the purpose of GATT negotiating rounds and any tariff concession obtained by one contracting party had to be applied to all countries without discrimination. There were exceptions, in particular for customs...
19 May 2020
COVID-19: Webinar series (Global)
The COVID-19 pandemic is creating significant health, social and economic challenges world-wide, forcing governments and businesses to critically assess the impact to their people, operations and governance. We understand that navigating the pace of change, whilst also dealing with immediate issues...
19 May 2020
COVID-19: Pressure Points: Business and respect of human rights (Global)
The current COVID-19 crisis is putting businesses under unprecedented levels of pressure, in terms of time, finances and operations. Meanwhile, human rights within businesses and their value chains are at risk, particularly in countries where labour laws and social systems offer limited protection...