Recent Articles

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  07.06.2023

  Switzerland

  Com­pet­i­tion law as­pects of ESG ini­ti­at­ives in the life sci­ences & health­care sec­tor

  I. IntroductionGlobally and in the EU, the initiatives to promote ESG developments are increasing. However, companies are still required to comply with competition law regulations and need more clarity on the assessment of sustainability objectives in agreements.II. ESG developments and competition law issuesInternationally, UN Agenda 2030 set 17 Sustainable Development Goals to promote sustainability, peace and prosperity, and to protect the earth. Additionally, in December 2020, the OECD's Competition Committee found during its special hearing on sustainability and competition law in its 134th...

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  07.06.2023

  South Africa

  Cor­por­a­tion for De­pos­it In­sur­ance aka CoDI: A new dawn or dusk in fin­an­cial se­cur­ity?

  The true test of CoDI's success will lie in its ability to protect a wide range of depositors. A recent collapse of several banks has exposed the fragility of the global banking system and spurred urgent discussions around securing depositors' funds. In response to this financial turbulence, the South African Reserve Bank (SARB) has launched the Corporation for Deposit Insurance (CoDI), offering somewhat of a lifeline to depositors in South Africa. This article delves into the general factors behind recent bank failures, the details of CoDI, and whether this new financial safety net can prevent...

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  06.06.2023

  England and Wales

  Lim­it­a­tion peri­ods in fraud claims: Court of Ap­peal cla­ri­fic­a­tion

  IntroductionThe Court of Appeal (“CA”) has recently considered the application of s.32(1)(a) of the Limitation Act 1980 (“LA 1980”) which provides that where an action is based on the fraud of a defendant the limitation period does not begin to run until the claimant has discovered, or could with reasonable diligence have discovered, the fraud. This means that in a claim based on the tort of deceit, where the limitation period is 6 years, the claimant has 6 years from discovery of the fraud, or from when the fraud could have been discovered with reasonable diligence, to...

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  06.06.2023

  United Kingdom

  In­terest Cov­er Ra­tio De­fault?

  Higher global interest rates are continuing to add pressure on borrowers’ ability to comply with interest cover financial covenants and service the interest on their outstanding debt.In this finance briefing we consider the key initial steps and issues for lenders and borrowers facing a potential default of interest cover financial covenant in a real estate finance investment loan agreement.We discuss the legal and practical considerations involved with calculating historic and projected interest cover ratios, possible cure rights and the initial options potentially available for lenders...

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  06.06.2023

  Europe

  The European Com­mis­sion in­vest­ig­ates the pro­ject of ac­quis­i­tion of Asi­ana Air­lines by Korean Air­lines

  FR

  Korean Airlines notified the European Commission of its proposed acquisition of Asiana Airlines on 13 January 2023. On 17 February 2023, the Commission opened an in-depth investigation into the proposed acquisition to assess whether it could restrict competition on the markets of passenger and cargo air transport services between the EEA and South Korea. On 17 May 2023, the Commission issued a Statement of Objections to Korean Air.Korean Air has made a number of notifications to several national competition authorities responsible for merger control. Eleven countries (China, Australia, Malaysia,...

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  06.06.2023

  United Kingdom

  The UK’s new di­git­al re­gime reg­u­lat­ing firms with “stra­tegic mar­ket status”: who is with­in scope?

  This is the second in a series of articles analysing specific features of the digital and competition reforms contained in the recently published Digital Markets, Competition and Consumers Bill (the Bill). It follows our initial ‘first impressions’ overview of the reforms introduced by the Bill, available here.This article looks more closely at who will be caught by the proposed new digital regulatory regime, and how the designation process will work.  In short, the new regime for firms with ‘strategic market status’ is only expected to apply to a small number of businesses,...

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