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Update: ‘Control’ for UK Sanctions Addressed in Hellard Case

Asset freeze measures enacted by the United Kingdom against designated persons (DPs) can, under certain circumstances, extend to entities “owned or controlled” by DPs. To date, there have been few—and at times partly...more

English High Court Takes ‘More Nuanced Approach’ to Difference Between Fixed and Floating Charges

The English High Court provided guidance on 25 April 2023 in Re Avanti Communications Limited to determine whether a charge is a fixed charge or a floating charge. The distinction between a fixed charge and a floating charge...more

UK High Court Sets Guidance on Appropriation of Financial Collateral in ABT Auto v. Aapico Investments

In ABT Auto Investments Ltd. v. Aapico Investment Ptd Ltd. and others, the English High Court set out guidance for conducting a valuation of financial collateral (i.e., shares and bonds) when enforcing security via an...more

Update: EU Introduces Its 8th Wide-Ranging Sanctions Package Against Russia

The European Union adopted its 8th sanctions package of restrictive measures against Russia on 6 October 2022 in response to the ongoing conflict in Ukraine. ...more

Update: Delisting of Russian Issuers’ Depositary Receipts – The End of an Era?

A new federal law in Russia prohibits Russian issuers from having their shares traded outside Russia via depositary receipts and requires issuers with existing programs to take delisting measures unless they receive a...more

Update: European Union Agrees on Further Sanctions on Russia

The European Union’s 25 February wave of sanctions build on, and significantly expand, its existing sanctions on Russia, imposing wide-ranging restrictions on the Russian economy—including in respect of Russia’s access to...more

[Webinar] Update on US, UK, EU Sanctions Against Russia - March 2nd, 11:00 am - 12:00 pm EST

In response to the conflict in Ukraine, the United States, United Kingdom, and European Union have issued a number of new sanctions against Russia. As we continue to monitor the evolving situation, we are pleased to offer...more

2/25/2022  /  Economic Sanctions , EU , UK , Ukraine , Webinars

Update: New EU Sanctions Take Aim at Russia

In response to the conflict in Ukraine, on 23 February, the European Union introduced a sanctions package of five new regulations against Russia, including freezing assets and curbing trade with two non-government-controlled...more

United States Issues New Economic Sanctions Against Russia

In response to the Russian Federation’s recognition of certain regions of Ukraine as independent states which followed an expansion of nearly 200,000 troops on the Ukrainian border, US President Joseph Biden authorized the...more

UK Bolsters Sanctions Powers Against Russia

The United Kingdom on 10 February 2022 amended its Russian sanctions law to more easily add persons to its targeted sanctions regime, which enhances the UK’s ability to quickly impose sanctions against most parts of the...more

Russia Sanctions Update – US / EU (And Brexit-UK) Overview And Energy Sector Focus & Russian Countersanctions, as of 10 December...

The still evolving US sanctions (as well as the EU and now also separate UK sanctions) continue to challenge Russia-related business. The sanctions frameworks are complex, changing, and, at times, inconsistent as well as...more

US and EU Russia Sanctions Update—overview and Energy Sector Focus (and Emerging Russian Countersanctions) – October 2020

United States - Various threats of further broad sanctions… triggered by ongoing negative developments and perceptions in the US-Russia relationship – though new sanctions legislation seems unlikely before the 3 Nov. US...more

US and EU Russia Sanctions Update—overview and Energy Sector Focus (and Emerging Russian Countersanctions) – July 2020

This presentation, an update to our April 2020 presentation, highlights the most recent developments and then provides a detailed overview of the relevant frameworks and their possible implications—including a focus on the...more

Strange Effects of the UK's New Insolvency Law

The Corporate Insolvency and Governance Act 2020 came into effect in the United Kingdom on 26 June 2020. It makes major changes to UK insolvency law. The full extent of those changes will only become apparent in the following...more

UK Government Launches New Loan Guarantee Programme for UK Businesses

The UK government launched a new loan guarantee programme for UK businesses—the Coronavirus Large Business Interruption Loan Scheme (CLBILS)—intended to plug the gap by providing loan guarantees for medium and large...more

UK Government Announces Insolvency Law Reforms Due to COVID-19

The measures include temporarily suspending wrongful trading liability for directors and implementing a new restructuring plan and moratorium to provide companies with a period of time to explore rescue options during the...more

UK Government – ‘£330 billion of Guarantees’

In response to the coronavirus pandemic, the UK government announced “£330 billion of guarantees,” which is divided into two schemes: the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan...more

Changes to UK Retail Price Index Will Have Impact on Contracts

The UK government announced changes to the Retail Price Index (RPI) on 4 September 2019. In summary, RPI will not be abolished, but RPI will be changed to match CPIH on a date between 2025 and 2030 (with such date to be...more

The Phaseout of LIBOR: Contracting for the Unknown

The Financial Conduct Authority (FCA) announced in July 2017 that by the end of 2021, it would stop compelling banks to contribute LIBOR quotes. This announcement, considered by many as the death sentence for LIBOR, has...more

Brexit Update: Recent Draft Legislation Has Significance for Financial Markets

Draft regulations published by the UK government in recent months amend existing laws regarding the financial market, and will apply upon the United Kingdom’s exit from the European Union on 29 March 2019....more

Brexit Update: UK Publishes Draft Legislation Impacting Financial Markets

The draft laws also cover the application of EU law in the United Kingdom after “exit day” on 29 March 2019. The UK government has begun publishing draft statutory instruments and accompanying explanatory memoranda and...more

US Enacts New Sanctions Against Russia

On August 2, US President Donald Trump signed into law the Countering America’s Adversaries Through Sanctions Act, which enacts a significant expansion of US sanctions against Russia as well as new measures relating to Iran...more

Bonfire of the Legalities?*

UK law after the referendum. Much has been written in the last few days (and, indeed, over the last few months) about the potential consequences of the repeal of 1000s of EU-originated laws in the UK. Most of it is an...more

New Blocks on Enforcements of Share Mortgages

The new UK legislation introducing PSC registers has created the potential for a new block on enforcement of share mortgages. A UK company can now cause mischief by issuing a “restriction notice”. This has the effect of...more

Cyprus Bailout: Potential Recourse for Lost Investments

Large depositors in Cyprus's two largest banks may consider international arbitration and appeals to the European courts to recover funds lost under the bailout plan....more

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