英国法院在今夏审理Sevilleja诉Marex Financial Ltd [2020] UKSC 31案(以下简称“Marex” 案)和Broadcasting Investment Group Ltd诉Adam Smith [2020] EWHC 2501 (Ch) 案(以下简称“Broadcasting” 案)的过程中对反射性损失原则展开了分析讨论。  
Continue Reading 公司、债权人和股东需注意,英国最高法院进一步限制反射性损失原则的适用

30 December 2020 was a big news day for fans of international trade.

Living in London for the last year and being subjected to Brexit 24/7 made one feel as if the approval of the Brexit deal by the UK parliament was less news but rather the season finale of a reality TV show. However, as luck would have it 30 December had 2 not 1 big trade stories with China and the EU agreement major terms in principle of the EU-China Comprehensive Investment Agreement (“the EU-China Agreement”).
Continue Reading When Giants Agree – EU-China Investment Agreement

COVID-19 has resulted in many individuals and businesses making claims through the UK courts. With the courts having been closed from March to the end of June earlier this year and virtual hearings only just starting to be used, the pandemic has caused an unprecedented backlog in cases to be heard in the UK courts.
Continue Reading Adding further particulars and claims relating to COVID to proceedings will not always been successful     

新冠肺炎疫情导致许多个人和企业纷纷向英国法院提出自己的权利主张。由于法院在今年3月至6月底一直处于关闭状态,虚拟听证会又刚刚开始使用,于是英国法院出现了前所未有的案件积压。
Continue Reading 英国法在新冠肺炎疫情背景下的相关诉讼中提出额外的权利主张不一定会获得法院的支持

On 19 December 2020, the National Development and Reform Commission (“NDRC”) and the Ministry of Commerce (“MOFCOM”) jointly released the “Measures for the Security Review of Foreign Investment (外商投资安全审查办法)” (the “Measures”)[1], which will become effective from 18 January 2021. The issuance of the Measures is a clear signal that the Chinese government is taking a more active approach in relation to national security review on foreign investments (“NSR”).
Continue Reading China Releases National Security Review Rules Version 2.0

The High Court in Dodika Ltd v United Luck Group Holdings Ltd [2020] EWHC 2101 (Comm) recently held that a buyer’s provision of a notice in respect of a claim under a tax covenant contained in a share sale and purchase agreement was invalid. 
Continue Reading Watch out Buyers: Despite actual knowledge, notices for claims must include sufficient detail

在上市公司进行重大资产重组交易时,经常会选择通过分步骤方式完成交易,即在完成借壳或重大资产重组前,事先进行少数股权收购。实践中,不少企业可能会忽视重大资产重组的前序交易步骤是否需进行反垄断申报的问题,面临被执法机关认定为“抢跑”的风险。近日,国家市场监督管理总局反垄断局(“反垄断局”)对某地方国有控股公司收购一家上市公司29.83%股权的交易未依法申报案作出了行政处罚[1]。而被处罚的这一交易,正是该国有控股公司借壳上市的前序交易。
Continue Reading 步步为营 | 上市公司重大资产重组分步骤交易的反垄断申报合规风险