27 September 2018
“Holding” DOCAs confirmed as valid by High Court of Australia
On 12 September 2018, the High Court of Australia ( High Court ) gave judgment in the case of Mighty River International Limited v Hughes ( Mighty River ). 1 In that decision, the High Court (by a 3:2 majority) held that a “holding” deed of company arrangement ( DOCA ) is valid.
14 September 2018
Internal Investigations and Privilege - update
The law of privilege is of particular importance in the present climate of intense regulatory and public scrutiny of corporate misconduct. Following significant corporate events or allegations of wrongdoing, companies often establish internal investigations to seek legal advice or in anticipation...
13 September 2018
Tanzania's new integrity pledge for mining companies: does it meet international best practice?
Since July 2017, the Government of Tanzania has introduced significant regulatory reforms to the mining industry (as well as the nascent upstream oil and gas industry). See our previous notes on these reforms here , here and here .
10 September 2018
Class Action Assault on UK PLCs for Acts of Subsidiaries
A recent trio of decisions 1 from the Court of Appeal of England and Wales has provided insight into the circumstances in which an English-domiciled company may be held liable in negligence to individuals affected by the acts of its overseas subsidiaries.
15 August 2018
Getting the deal through: Mining 2018 (South Africa Chapter)
The mining industry has historically been a key driver of the South African economy. Economic activity in modern-day Soth Africa has been centered on mining activities, their ancillary services and supplies. The country's stock exchange in Johannesburg was established in 1887, a decade after the...
01 August 2018
Indonesia’s foreign investment regime liberalised by new OSS system
In its efforts to encourage and accelerate investment, the Indonesian government has issued a set of regulations reforming existing business licence regulations and establishing an online one-stop business licensing system known as Online Single Submission (“ OSS ”). We believe this represents a...
27 July 2018
The temperature is rising on corporate crime in Australia Implications for company directors
Proposed corporate crime reforms will involve a sea change in director responsibility. Rather than directors reacting to issues that come to their attention like foreign bribery offences, it will be important for directors to take proactive steps to ensure such issues do not arise.
27 July 2018
Upheaval and uncertainty in mineral regulation in parts of Africa: Resurgence of resource nationalism highlights the importance of investment treaty protections
The last few months have seen significant changes to mining regulations in various African states, giving rise to a concern that a regional trend of resource nationalism may be (re-) emerging. In this context it is important for companies associated with the mining sector to be aware of the...
15 June 2018
Heightened Risk? Resource nationalism on the rise in sub-Saharan Africa
The seemingly increasing trend towards nationalist thinking, combined with and likely driven by growing economic inequality, has resulted in several changes in mining and tax legislation in sub-Saharan Africa countries.
16 October 2018
The activist’s tools and playbook
Activist shareholders have a number of tools at their disposal. The UK in particular has always provided a strong basis of shareholder rights from which to challenge management and the legal and regulatory framework in the UK is arguably the most benign framework for possible activist activities in...
15 October 2018
Australian decommissioning discussion paper released
The closure and decommissioning of offshore petroleum infrastructure is a significant issue for all countries that exercise jurisdiction over such infrastructure. The challenges to plan, execute and supervise decommissioning projects, coupled with their scale and cost, are well recognised. The re-...
12 October 2018
GDPR and consumer business supply chains
In the latest briefing " GDPR and consumer business supply chains " in our Future of Consumer series , we examine how GDPR regulatory requirements with respect to data are resulting in commercial scrutiny of privacy provisions in supply chains as parties try to ensure that they are not left with a...
11 October 2018
Patent and Pharma Update, October 2018
Key recent developments in the United Kingdom and Europe relating to patents and the pharmaceutical sector The CJEU has provided its preliminary ruling in Teva v Gilead on the meaning of Article 3(a) in the context of a medicinal product composed of several active ingredients. It has also clarified...
10 October 2018
ACCC orders port of Newcastle to reduce charges for Glencore
The Australian Competition and Consumer Commission has determined that Port of Newcastle Operations must reduce the current charge for ships entering the port carrying Glencore’s coal by around 20%. As the first substantive arbitration under the National Access Regime, the determination provides...
05 October 2018
ACCC inquiry into foreign currency conversion services
In an announcement demonstrating a continued regulatory focus on the financial services industry, the Treasurer has issued a notice to the Australian Competition and Consumer Commission ( ACCC ) to commence an inquiry into foreign currency conversion services. The inquiry represents new work for...
05 October 2018
The Quest for a Balanced Host Government Contract: an MSGBC Basin Perspective
The Changing Landscape of the Oil and Gas Sector The recent discoveries in the MSGBC basin (covering Mauritania, Senegal, the Gambia, Guinea-Bissau and Guinea-Conakry) have triggered a great deal of hope for the upstream industry, the host States and their populations. Indeed, the development of...
03 October 2018
The Shareholder Rights and Activism Review, 3rd edition
For the third year, Herbert Smith Freehills has contributed to The Shareholder Rights and Activism Review, a multi-jurisdictional review of current developments in shareholder activism and related corporate law. Shareholder activism comes in many forms, from privately engaging with a company on...
02 October 2018
Hashing out the Implications of Smart Contracting under English Law
Distributed Ledger Technology (DLT), commonly known as blockchain technology, is driving a new wave of innovation across many industries. Blockchain is often billed as a technology able to revolutionise how businesses operate, by improving reliability, security and speed due to the decentralisation...