MAGAZINE

August 2014 Issue

Financier Worldwide Magazine


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COVER STORY

Resolving post-acquisition disputes

The sale and purchase of a business is a complex undertaking, and for many reasons buyers and sellers often find themselves in dispute. Resolving such disputes can be lengthy, expensive and uncertain, and the best bet is to avoid disputes where possible…

 

FEATURES

Hostile takeovers return

M&A activity in recent years has undergone a number of different phases. The boom years of the pre-financial crisis era soon gave way to a prolonged period of relative stagnation, thanks to the lasting and damaging effects of the global economic downturn…

PE finds gains in Spain

As a result of the country’s economic travails, private equity (PE) activity in Spain has been minimal since the onset of the financial crisis. Recently, however, PE firms have made investments in the country. Since summer 2013, firms including Blackstone, HIG Capital…

Alibaba leads Chinese IPO charge

Earlier this year Chinese firms also had to endure a four month sabbatical from domestic IPOs. They returned to the IPO market in mid June with the listing of seven firms on the Shanghai and Shenzhen stock exchanges. The offerings came after the…

GDP to include illegal activity

With growth hard to come by in the eurozone, a number of countries including the UK, Ireland and Italy have begun to change the way they calculate their respective GDPs, factoring in illegal activity. This move could see billions of dollars added…

Banking system faces cyber threat

Virtually every facet of the banking sector has been transformed in some way thanks to the genuine and lasting impact of the digital age. From every day retail transactions involving the general public to enormous market operations, the worldwide banking…

 

ROUNDTABLE

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Risks facing directors & officers

MODERATOR: Carolyn Snow, Risk Management Society (RIMS). THE PANELLISTS: Jan Bouwman, Fasken Martineau; Ffion Flockhart, Norton Rose Fulbright LLP; Nathan Dentice, Reed Smith Richards ButlerMichael Feifel, Siemens Financial Services GmbH; Peter B. Morrison, Skadden, Arps, Slate, Meagher & Flom LLP; and Dominik Bark, Zurich Insurance Company.

Today’s D&Os face liabilities arising from investigations by increasingly active regulators; new legislation which imposes personal liability in a variety of contexts; increased shareholder activism; and claims brought by clients and customers, who are more likely to take action…

 

SPECIAL REPORT

Technology in business

Modern technological advances have reshaped the way businesses operate, creating new and efficient systems and processes. However, the trust firms place in modern technology leaves them constantly under threat from data loss, system weakness and project failure.

FORUM: Data management and compliance issues

FW moderates a discussion on data management and compliance issues between Michael Bruemmer at Experian Data Breach Resolution, Harriet Pearson at Hogan Lovells, Christian Toon at Iron Mountain Incorporated, and Stuart D. Levi at Skadden, Arps, Slate, Meagher & Flom LLP.

Clear and present danger: the pressing need to address cyber risk requires its better understanding and adequate quantification

Navigation Advisors Cyber risk continues to grow, yet it remains underestimated. This important enterprise risk can only be managed if properly understood and quantified. One must consider the full array of options, which range from employing new cybersecurity tools to...

Security in depth and sound data governance

Faruki Ireland & Cox It is time for a change in how data security is considered. We are not referring to the tools and tactics, but instead how it is considered within the organisation and the boardroom. We have often overheard information technology professionals…

Playing fair: counter striking a dirty tricks campaign

Schillings Rivals who try to undermine your credibility are part of the rough and tumble of business, but when untruths are spread from behind the shield of a fake identity, the line is crossed into the realm of dirty tricks. In recent years…

BYOD and social media: an employer’s perspective

Sutherland Asbill & Brennan Employers must decide whether they want to embrace the technology that millennials want, and often expect, as a condition of employment. One such area of technology is the increasingly popular bring your own device (BYOD) program…

When things don’t go as planned: key considerations in relation to problem projects

Ashurst Development and renewal of IT systems and software remains an important way for companies to gain and maintain a leading edge. This is particularly true in relation to banks and finance organisations. It is inevitable that from time to time, problems...

Q&A: Improving cyber security – advice for companies

FW moderates a discussion on improving cyber security between Mike Gillespie at Advent IM, Marcus Klische at BlackBerry, Elliot Lewis at Dell, Ron Raether at Faruki Ireland & Cox, Alex Krutov at Navigation Advisors, and David Prince at Schillings.

 

DEALfront

mergers & acquisitions

Shire rejects $46bn takeover

British pharmaceuticals firm Shire plc announced on 20 June it had rejected a $46bn takeover offer from rival pharma group Abbvie. Shire noted that the offer from US firm Abbvie “fundamentally undervalued” the company…

Level 3 to acquire TW Telecom

Internet provider Level 3 Communications Ltd has agreed to acquire rival firm TW Telecom in a deal worth around $5.7bn in cash and stock. Under the terms of the deal announced in June…

private equity & venture capital

Property service DTZ sold to PE consortium

Australian engineering services firm UGL Ltd has announced the cash sale of its property arm DTZ to a consortium including private equity firms TPG Capital and PAG Asia Capital…

KKR pays $1.1bn for Internet Brands

Private equity giant KKR & Co LP has announced its entry into a definitive agreement to acquire website operator Internet Brands Inc from Hellman & Friedman and JMI Equity

bankruptcy & corporate restructuring

Nautilus Holdings files for Chapter 11 bankruptcy

Nautilus Holdings Inc has filed for Chapter 11 bankruptcy protection, citing an unmanageable debt load of around $770m against assets of between $100m and $500m…

Revel Casino files for second bankruptcy

For the second time in a little over a year, Atlantic City’s troubled Revel Casino Hotel has filed for Chapter 11 bankruptcy protection. Revel Entertainment Group, which owns the casino, says…

 

PROFESSIONALinsight

Intellectual Property

Innovation, the European market and the new EU Trade Secrets Directive

Bird & Bird LLP Although those in the know were aware the EC was looking at the problems created by a lack of consistent protection for innovative ideas across Europe, nobody was expecting the publication of a Directive.

The role of third parties in the Data Protection Directive

Cuatrecasas, Gonçalves Pereira The concepts of ‘data controller’ and ‘data processor’ in the Data Protection Directive (the Directive) are not exhaustive. The Directive defines them by excluding certain criteria…

Intellectual property – have you protected your business?

Shulmans In recent years we have seen an increase in the number of businesses that do not own IP which is critical to their business. Typically this concerns copyright in photographs, logos, websites and product designs…

Boardroom Intelligence

The board selection process: assembling the right pieces for a dynamic, effective and balanced board

European Confederation of Directors’ Associations Board diversity has been a key topic in corporate governance over the last year and might remain high on the agenda until the formal adoption of the gender balance initiative by the European Council…

Top 10 steps when faced with a D&O insurance denial letter

Innovation Insurance Group A director or officer being sued or investigated for allegations of mismanagement is facing one of his or her worse nightmares. His reputation is at stake and such a claim can be a financial nightmare…

Director compensation litigation

Cleary Gottlieb Steen & Hamilton Litigation trends suggest that public company boards of directors should consider having their non-employee director cash and equity fee arrangements approved routinely by shareholders…



CONTRIBUTORS

Advent IM

Ashurst

Bird & Bird LLP

BlackBerry

Cleary Gottlieb Steen & Hamilton

Cuatrecasas, Gonçalves Pereira

Dell

European Confederation of Directors’ Associations

Experian Data Breach Resolution

Faruki Ireland & Cox

Fasken Martineau

Hogan Lovells

Innovation Insurance Group

Iron Mountain Incorporated

Navigation Advisors

Norton Rose Fulbright LLP

Reed Smith Richards Butler

Risk Management Society

Schillings

Shulmans

Siemens Financial Services GmbH

Skadden, Arps, Slate, Meagher & Flom LLP

Sutherland Asbill & Brennan

Zurich Insurance Company


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