crossing borders

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正如托尔斯泰所说“世界上的幸福都是一样的，而不幸的人却各有各的不幸”，每个失败的跨境并购案例都有各自五花八门的原因。让我们假设有这样一起失败的海外并购案例：PE投资人与某上市公司（作为产业投资人）组成财团以高额溢价快速收购了某境外TMT产业公司，可谁曾想到，交割后没几年目标公司就被裁定破产，交易最终以失败告终（本案例纯属虚构，如有雷同，纯属巧合）。…
Continue Reading 一宗跌落“神坛”的海外并购案——从法律角度的简评和建议

近日，国家外汇管理局通报了17例外汇违规典型案件，被处罚对象涵盖银行、企业和个人，其中，单家银行最高被处罚111.54万元，单家企业最高被处罚3734万元，个人最高被处罚2497万元。…
Continue Reading 外汇管理领域处罚力度加大——从外汇违规案例的通报看资金跨境收付的风险与防范

By：King & Wood Mallesons

In June 2019, the Republic of Portugal issued RMB 2 billion panda bonds in China with a tenor of three years. The bonds were actively subscribed by onshore investors as well as offshore investors through the Bond Connect. The final coupon rate was 4.09%.Continue Reading KWM advises Portugal on its inaugural issuance of RMB 2 billion Panda Bonds in China

2月18日，中共中央、国务院印发《粤港澳大湾区发展规划纲要》。随着规划的公布，一个国际一流的湾区和世界级城市群图景正逐渐显现。未来，粤港澳三地将构建开放型协调创新共同体、具有国际竞争力的现代国际金融枢纽和产业体系，成为我国全面改革开放新格局的新门户。…
Continue Reading 跨境应收账款融资与贸易联动——兼谈“双链”交合下的湾区金融创新

On 11 April 2019, the US Department of Commerce Bureau of Industry and Security (BIS) issued a Final Rule (84 FR 14608) adding fifty companies to the Unverified List (UVL).  The UVL is a list of foreign persons or entities, who are parties to a transaction involving a US export, re-export or in-country transfer of US goods or technology, and whose “bona fides” or legitimacy the BIS has not been able to confirm through an end-user check.
2019年4月11日，美国商务部工业安全局（“工业安全局”）作出了一项最终裁定（裁定文书索引号为84 FR 14608），将五十家公司列入未经验证名单。被列入这类名单的外国个人或实体，是在美国出口、再出口、或在国内转让美国货物或技术的交易的参与方，工业安全局无法通过最终用户核查来证实这些个人或实体的“善意”或合法性。…
Continue Reading US Trade News: 37 Chinese Companies Placed on Department of Commerce Unverified List 美国商务部将37家中国内地公司列入未经验证名单

China and Russia share over 4000 km of border and now they share an arbitral institution as the Hong Kong International Arbitration Centre (“HKIAC”) becomes the first international arbitration institution to be recommended to administer arbitrations in the Russian Federation.
Continue Reading To Russia with Love: Hong Kong International Arbitration Centre attains PAI status in Russia

The recent landmark judgment of the UK Supreme Court in Vedanta Resources PLC and another v Lungowe and others [2019] UKSC 20 (“Vedanta”) has confirmed that a lawsuit brought by 1,800 Zambian villagers can be heard in London despite arguments by Vedanta that the case should be tried by the Zambian courts.  The decision undoubtedly paves the way for more environmental and human rights class-action style claims to be brought in the UK, specifically targeting large multinationals with global operations.  Those who operate in high risk sectors, such as natural resources and steel, are particularly vulnerable.
Continue Reading Parent company liability & class actions – UK Supreme Court delivers landmark judgment

随着欧盟理事会于2019年3月5日通过了关于欧盟外商直接投资的新欧盟条例，我们已进入了一个新的时代，欧盟再度聚焦于拉动欧洲外商直接投资，同时加强各成员国之间关于确定审查因素及其他具体监管事宜（特别是国家安全和公共秩序的理据）的紧密合作。…
Continue Reading 欧洲及中东地区外商直接投资监管新动向