MAGAZINE

April 2015 Issue

Financier Worldwide Magazine


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COVER STORY

Crumbling BRICS

The BRICS were supposed to redraw the map of global business, and for a short while they did. Following their christening in 2001, the countries which made up the bloc – Brazil, Russia, India and China, and latterly South Africa – all...

 

FEATURES

ECB opens the floodgates

One of the worst kept secrets in Europe finally came to pass in late January as the European Central Bank (ECB) announced that it would be injecting at least $1.3 trillion into the faltering eurozone economy. Under the plans...

Italian banking reform approved

Events in the eurozone have taken a turn for the dramatic in recent months. The stunning electoral victory of anti-austerity party Syriza in Greece and the mass anti-austerity marches in Spain have created a backdrop of financial and...

Greek debt defiance and the potential for a eurozone Grexit

A rollercoaster ride with no real end in site would be an apt way of describing Greece’s journey during the years since the global financial crisis. These years have seen the country descend into economic..

Cautious optimism for 2015

2014 was undoubtedly a historic and newsworthy year for the global economy. The year began with much economic optimism, particularly as the global recovery seemed to finally be kicking into gear after years of false starts...

Is the Sharing Economy all it’s cracked up to be?

It’s a fair bet that at some point in your life, someone will tell you off by saying ‘sharing is caring’. It is a fair dictum and one espoused by the trending business concept called the Sharing Economy – or peer-to-peer...

 

ROUNDTABLE

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ROUNDTABLE: Private equity

THE PANELLISTS: Karan Dinamani, Allen & Overy LLP; Jim Lavery, DLA Piper UK LLP; Justin Abelow, Houlihan Lokey; Kate Downey, Kirkland & Ellis International LLP; Christopher Elvin, Preqin; Dr Peter Memminger, Milbank, Tweed, Hadley and McCloy LLP.

In 2014, buyouts and exit activity reached levels unseen for some time. Private equity houses now appear more stable, with record levels of dry powder on hand, and the industry has contracted to a level that anticipated deal flow...

 

SPECIAL REPORT

Managing risk

Risk is a constant companion for those operating in today’s business world. And what constitutes effective risk management can vary considerably across the corporate spectrum. The types of risk faced by organisations are...

FORUM: Managing reputational risk

FW moderates a discussion on managing reputational risk between Harlan Loeb at Edelman, David Imison at Schillings, Michael J. O’Leary at EY, and Tracy Knippenburg Gillis at Marsh Risk Consulting.

Get ahead of cyber crime

EY The Internet of Things is transforming lives, but how can organisations keep themselves and their customers safe from cyber crime? Our message to businesses today is that anticipating cyber attacks is the only way to be...

Cyber risk: an increasing concern for senior management

Norton Rose Fulbright LLP “Cyber threats are an urgent and growing danger.” This statement – made in January 2015 by President Barack Obama in a high-profile speech about cyber security – highlights the fact that cyber risk has recently become a matter...

Building an approach to data security liability exposure

K&L Gates LLP Data security is hot in boardrooms. In the United States, recent emphasis by the US Securities and Exchange Commission (SEC), Presidential executive orders and high profile data breaches have raised data security risks and...

Excess D&O insurance coverage – an important but often neglected part of your D&O insurance program

Holland & Knight Excess Directors & Officers (D&O) Liability Insurance policies are often referred to as “follow form” coverage. Despite the name, few excess D&O policies truly follow the terms and conditions of the primary D&O insurance policy...

The Supreme Court of Canada recognises a new duty of honesty in contractual performance

McMillan LLP Canada’s highest court has considered, for the first time, whether the law imposes a duty of good faith in contractual performance. In its recent landmark decision, Bhasin v Hrynew, the Supreme Court of Canada...

Identifying and dealing with risk management and corporate governance in the hotel industry

Bryan Cave Hotel companies are no doubt faced with similar risks experienced by companies in other sectors. Certain risk management issues such as compliance with employment and financial regulations and merger control are common...

Q&A: Managing risk arising from the ‘Internet of Things’

FW moderates a discussion on managing fraud and bribery risks in the healthcare sector between Tim Best at EY, Cheryl Soderstrom at HP Enterprise Services, Stephen Mills at IBM, and David Navetta at Norton Rose Fulbright US LLP.

 

DEALfront

mergers & acquisitions

Valeant agrees to buy Salix for $10.1bn

Valeant Pharmaceuticals International, Inc. and Salix Pharmaceuticals, Ltd have announced that they have entered into a definitive agreement which will see Valeant acquire all of the outstanding common stock...

Ball Corp agrees $6.9bn Rexam deal

US drinks can manufacturer Ball Corporation has agreed to acquire British rival Rexam Plc in a deal worth around $6.9bn, or $8.4bn including the assumption of pre-existing debt. The deal, announced...

private equity & venture capital

Fairfax acquires Brit in $1.88bn deal

Continuing its European investment adventures, Canadian property and casualty insurer Fairfax Financial Holdings Limited has announced that it has reached an agreement with Brit PLC to acquire all of the organisation’s...

Bridgepoint exits Infront in $1.2bn deal

European private equity firm Bridgepoint Capital announced in February that it had agreed to sell international sports marketing company Infront Sports & Media AG to Dalian Wanda Group Co Ltd for $1.2bn. London based...

bankruptcy & corporate restructuring

RadioShack files for Chapter 11

RadioShack Corporation, along with a number of its US subsidiaries filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the District of Delaware.  In February 2015...

Shipping firms run aground

2014 was a tumultuous year for the shipping industry, with a number of firms filing for bankruptcy throughout the course of the year. Unfortunately, 2015 picked up where last year left off. Three private shipping companies in...

 

PROFESSIONALinsight

Banking & Finance

Are we sleepwalking into a future financial services sector that is not fit for purpose?

Bibby Financial Services What will the financial services sector look like in five years time? It’s a good question, and one which is very difficult to answer. Certainly in 2007 there were few that would have predicted the scale of change that has taken...

FPI regime in India – recent changes relating to investment in corporate debt

Wadia Ghandy & Co. The two different avenues through which Indian companies are able to directly raise debt from non-residents are either by availing of a foreign currency denominated borrowing under the external commercial borrowing (ECB)...

Fraud & Corruption

Investigating serious economic crime

Peters & Peters The growth in the scale and use of technology and the ease of international travel has made cross-border economic crime more significant today than ever before. It can take many forms: bribes paid to foreign public...

Recent developments in corruption law in Singapore

Allen & Gledhill LLP Singapore has always enjoyed a sterling reputation as one of the least corrupt countries in the world. In 2014, Singapore was ranked seventh in Transparency International’s annual Corruption Perceptions Index, which...

 

SPOTlight

Deferred tax assets: compounding value in distressed M&A

Peter J Solomon Company The current investment environment is made increasingly challenging by historically low interest rates, volatility and globalisation. These conditions have generally inflated stock markets. In turn, higher markets emphasise the value...

Venture capital opportunities diversify risk profiles through Islamic finance

Morgan Lewis There has been a steady increase over the last few years in the prevalence of new start-ups and entrepreneurs originating from the Middle East region, including from the United Arab Emirates (UAE). In light of its continuing growth...

Moving beyond data breach prevention

Boies, Schiller & Flexner LLP It is now a common refrain that data breaches are inevitable. Indeed, most companies, non-profits, and governments today understand that it is only a question of when, not if, they will be struck. That unfortunate...



CONTRIBUTORS

Allen & Gledhill LLP

Allen & Overy LLP

Bibby Financial Services

Boies, Schiller & Flexner LLP

Bryan Cave

DLA Piper UK LLP

Edelman

EY

Holland & Knight

Houlihan Lokey

HP Enterprise Services

IBM

K&L Gates LLP

Kirkland & Ellis International LLP

Marsh Risk Consulting

McMillan LLP

Milbank, Tweed, Hadley and McCloy LLP

Morgan Lewis

Norton Rose Fulbright LLP

Peter J Solomon Company

Peters & Peters

Preqin

Schillings

Wadia Ghandy & Co.


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