Measures against takeover bids revamped: Portuguese draft legislation under public consultation for the adoption of breakthrough rule
Corporate & M&A
Portugal´s new legislation on defending takeover bids - Sérvulo
Measures against takeover bids revamped: Portuguese draft legislation under public consultation for the adoption of breakthrough rule
The European debt crisis: in or out of the money? - ABBC
As happens with any crisis, the European sovereign debt crisis brings both perils and opportunities. From the investors’ point of view, the question is: are you on the right side of the fence?For those investors with liquidity, in particular investors in distressed debt, there are many interesting opportunities under a careful cherry-picking strategy. The acquisition of distressed debt, which is now available as banks are forced to clean their balance-sheets in order to survive, may grant a high-rated investment with manageable risks and very appealing possible turnover - for those who are capable of spotting valuable underlying assets.
A selective investment policy driven by the acquisition of assets held by banks and indebted companies with problematic balance-sheets, with harsh credit ratings, short term liquidity problems and associated risk of default, may yet prove very rewarding for some.
A change of circumstances - Garrigues
Various players in the M&A market (which includes financial investors, lawyers and advisers) and many companies that entered into contracts in times of splendour have been seeking, since the downturn of the economy, an exit from contracts or the release of their obligations under such agreements based on what is known as the “material adverse change” clause or the “rebus sic stantibus” principle, as it is traditionally known (and studied) in continental Europe.
The steps required for Portuguese privatisations - Abreu Advogados
The Portuguese Stability and Development Plan (PEC) puts on the agenda the privatisation of state owned companies. The targets include companies within various sectors, such as energy, paper, transport, postal services, and companies likely to be privatised in the near future, include TAP, ANA and REN.
Would a pan-European contract law help Europe’s small businesses? - SJ Berwin
Last summer, the European Commission revived proposals for a single European system of contract law, in a Green Paper that invited responses before the end of February 2011. Although business might be alarmed at having to re-learn the law, and re-draft contracts, harmonised EU contract law is in fact seen bythe EC as vital in completing the single market, and forms a central part of its “Europe 2020” strategy.
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