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International Edition

Covington hit by loss of new Euro M&A head

Covington & Burling has kicked off the search for a new European corporate head as it emerges that new recruit Martin Wright decided not to join the firm.
2 minute read

International Edition

CC boosts Moscow with Camerons hire

Clifford Chance (CC) has strengthened its Moscow office with the hire of CMS Cameron McKenna energy specialist Maria Oleinik. Oleinik, who joins the firm's energy and infrastructure group as an associate, is qualified in UK, US and Russian law and has been advising clients across the sector for more than 10 years. Oleinik is the third lawyer to switch from Camerons to CC in the last two months following the twin hire of former CMS Moscow head David Griston and banking head Jared Grubb.
1 minute read

International Edition

Swedish indy raids rival for double partner hire

Swedish independent Magnusson has expanded its real estate offering with the hire of a brace of partners from local rival Norrmalmstorgs. The firm has drafted in real estate partners Peter Lillthors and Rickard Zamuhl in a bid to cash in on the booming local property market. As well as its Stockholm hub, Magnusson operates offices in Moscow, Copenhagen and Warsaw.
1 minute read

International Edition

Scandinavia and the Baltics: The Danish tax debate

As a general rule, Danish tax law distinguishes between operating costs on the one hand, and capital and establishment costs on the other. Operating costs are, for tax purposes, deductible, while capital and establishment costs are not. Acquisition costs generally do not fall within the category of operating costs and are therefore generally not deductible. Because Danish tax law is based on a net income principle, under which only net income or net gain is taxable, such non-deductible acquisition costs are instead added to the purchase price of the asset in question and therefore may be depreciated or may reduce any taxable capital gains realised upon a subsequent sale of the asset.
8 minute read

International Edition

Scandinavia and the Baltics: Border crossing

Cross-border, intra-group transactions have become a hot issue in international taxation over the past few years. Not only have multinational entities (MNEs) gained a better understanding of transfer pricing as a tax planning tool, but tax authorities have also increased their focus on the issue and their scrutiny is tougher than ever before.
8 minute read

International Edition

Scandinavia and the Baltics: Destination of choice

Arbitration has very old roots in Sweden, and for many years it has been used to resolve domestic commercial disputes. From an international perspective, Sweden has long since attracted a relatively high number of international arbitrations. During the last 10-15 years the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) has experienced a steady increase in international arbitrations.
7 minute read

International Edition

Scandinavia and the Baltics: First data

Share and business transactions, private equity investments and other capital market-related transactions are constantly becoming more international and complex. And the expectation is also that the deal should be done without interfering with the normal business of the parties involved. Being able to carry out efficient due diligence is one of the most essential elements of a transaction. A virtual data room makes the due diligence review straightforward and effective.
5 minute read

International Edition

Spain: By royal decree

On 27 July, the Spanish Government approved a new regime for public tender offers, enacted by Royal Decree 1066/2007. These new rules - implementing European Directive 2004/25 on tender offers - apply to all tender offers authorised by the Spanish authorities after 13 August this year.
5 minute read

International Edition

Merger deal hands Howrey '08 Spanish debut

US intellectual property leader Howrey has launched in Spain after agreeing a deal to take over domestic competition boutique Martinez Lage & Asociados. The merger, which was agreed last week (21 September), will see Howrey and the three-partner Spanish outfit became financially integrated from 1 January, 2008.
2 minute read

International Edition

Bonelli revamps pay as new chief Saravalle steps in

Slaughter and May ally Bonelli Erede Pappalardo has overhauled its payment structure and appointed a new managing partner, as the Italian independent moves to resolve succession issues. The remuneration changes, which were voted in at a partnership meeting last week (10 September), will see the Italian leader change its profit-sharing model to place less emphasis on individual performance and institutionalise its structure.
2 minute read

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