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COVER STORY

Dark territory: addressing cloud security issues

As malicious actors avail themselves of the latest technologies and tactics, companies must strengthen their current cloud infrastructure and prepare for tomorrow. To survive the fallout of future attacks, they need to focus on the basics.

FEATURES

Guiding light: effective board oversight of M&A

A major key to the reassessment of M&A strategy in turbulent times lies with the board of directors and its role in overseeing and guiding the M&A activity pursued by senior management.

Preventing merger failure: hardening soft due diligence

Conducting soft due diligence can be more challenging than hard due diligence, as it means assessing people, principles and ethics rather than raw numbers or binding contracts.

Crypto recommendations amid risk rises

Digital asset markets harbour serious issues which can dramatically impact retail investors. The industry has seen significant fluctuations in price and serious losses.

Wireless compliance: adhering to the PCI DSS

New connected devices bring the promise of improved efficiency, but they also increase the attack surface and increase the number of communication paths to be monitored to ensure compliance with the PCI DSS.

Founders’ formula: keys to UK start-up success

Despite the many hindrances imposed by these turbulent times, budding business owners refuse to be discouraged and continue to take the plunge at a significant rate.

ROUNDTABLE

Cyber security

As attacks become more frequent and losses more devastating, companies need to take a proactive rather than reactive approach to cyber risk management – seizing the initiative to monitor their cyber risk profile and mitigate vulnerabilities. FW moderates a discussion between Jamie Bouloux at EmergIn Risk, Jasmeet K. Ahuja at Hogan Lovells US LLP, Melanie Hayes at KYND, Siân John at Microsoft, David Aaron at Perkins Coie LLP, and Christie Jones at Tokio Marine HCC.

SPECIAL REPORT

Energy & utilities

Q&A: Energy transition: the role of traditional energy

Traditional energy companies continue to have a vital role to play in the energy transition and in addressing climate change, although the degree to which they are willingly participating varies. FW discusses the role of traditional energy in the energy transition with Jennifer Morrissey at Dentons and Hywel Davies at Slaughter and May.

Green energy incentives created or modified by the Inflation Reduction Act

Husch Blackwell While economists disagree over the Act’s ability to curb inflation in the near term, most analysts agree it will materially impact carbon emissions by deploying nearly $370bn earmarked for clean energy and climate change measures

Analysis of Just Energy Group bankruptcy proceedings

Sheppard Mullin The resolution of the appeal will likely provide additional colour to the oft-litigated issue of bankruptcy court subject matter jurisdiction as well as a private company’s ability to share a regulatory agency’s sovereign immunity.

Regulatory framework for CCUS in Alberta

Burnet, Duckworth & Palmer, LLP Alberta’s CCUS regulatory scheme can provide a blueprint for the development of future provincial and national models and ensure that Canada is well-positioned to lead global CCUS deployment and meet its net-zero targets.

Capturing Vietnam’s offshore wind opportunities

Mayer Brown Despite the growing interest of international investors and developers, Vietnam’s offshore wind market remains at a very early stage and there are a number of challenges which will need to be overcome.

Q&A: Shareholder activism and hostile M&A in the energy sector

The energy sector continues to be an attractive area for activists – the third most active sector for activists by some accounts. Over the last couple of years, there have been several high-profile campaigns. FW discusses shareholder activism and hostile M&A in the energy sector with Hillary H. Holmes at Gibson, Dunn & Crutcher LLP, Greg Mulley at Herbert Smith Freehills LLP and Pankaj Sinha at Skadden, Arps, Slate, Meagher & Flom LLP.

TALKINGpoint

Outlook for life settlement funds in 2023

Since the life settlement market is looked at as an alternative investment, one might think that this asset class too has had similar negative returns. This is not the case. FW discusses the outlook for life settlement funds in 2023 with Corwin Zass at Actuarial Risk Management.

Regulating AI in the life sciences sector

The legal framework, or future legal framework, applicable to AI-containing products in Europe is twofold: product regulatory and product liability. FW discusses regulating AI in the life sciences sector with Samantha Silver, Sarah-Jane Dobson, Charlie Whitchurch and Paula Margolis at Kennedys Law LLP.

DEALfront

mergers & acquisitions

Johnson & Johnson agrees $16.6bn deal to acquire Abiomed

In a deal that will bring lifesaving innovations to more patients around the world, healthcare products company Johnson & Johnson is to acquire Abiomed, a world leader in breakthrough heart, lung and kidney support technologies, for $16.6bn.

BP to acquire Archaea in $4.1bn deal

In a move which will expand the company’s position in the alternative fuels space, oil giant BP has agreed to acquire US-based renewable natural gas producer Archaea Energy Inc in a deal worth $4.1bn, including approximately $800m of net debt.

private equity & venture capital

Blackstone agrees Emerson deal

Emerson Electric has agreed to sell a majority stake in its climate technologies unit to private equity firm Blackstone Inc in a deal that values the business at $14bn.

Vista Equity Partners acquires KnowBe4 in $4.6bn deal

In a testament to the success of its strategy and the strength of its team, software company KnowBe4, Inc. is to be acquired by private equity firm Vista Equity Partners in an all-cash transaction valued at approximately $4.6bn.

bankruptcy & corporate restructuring

UK retailer Made.com enters administration

A little over a year since it floated on the London Stock Exchange, online furniture retailer Made.com has entered administration. The company had a valuation of £775m when it floated in June 2021.

LATAM Group completes restructuring to emerge from Chapter 11

Emerging with what it describes as a “solid financial position”, Chile-based airline holding company LATAM Airlines Group has completed its financial restructuring process in the US and exited Chapter 11 bankruptcy proceedings.

SPOTlight

Embedded insurance: opportunities and risks

Chalfin, Goldberg & Vainboim Associated Lawyers Embedded insurance is gaining prominence in Europe, and many studies have shown that it will become increasingly popular in the coming years. In Brazil, however, there are regulatory challenges involved.

The rise and rise of business compromise fraud: a victim’s toolkit

Cooke, Young & Keidan LLP In the event of a company falling victim to a business compromise fraud, the most important thing to do is to act quickly, take advice and keep a documentary record of everything that has happened.

Indefensible? An examination of Canada’s efficiencies defence

McCarthy Tétrault LLP The efficiencies defence receives a lot of attention in Canadian antitrust circles, particularly now that the government has signalled a willingness to reform this pillar of the Act. However, it must be asked whether all this attention is warranted.

New data privacy laws in various US states: are you ready?

Fieldfisher As we move through 2023, organisations will need to review their existing data privacy documentation and processes and determine what changes may be needed to achieve compliance with the new laws that will enter into effect during the course of 2023.

Urgent reform of Australia’s privacy laws: are your cyber security processes robust enough?

Spruson and Ferguson Lawyers Following major cyber security breaches impacting a number of high-profile Australian corporations, the Australian government has introduced urgent reforms to Australian privacy law to increase penalties and enhance enforcement powers.

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CONTRIBUTORS

Actuarial Risk Management

Burnet, Duckworth & Palmer, LLP

Chalfin, Goldberg & Vainboim Associated Lawyers

Cooke, Young & Keidan LLP

Dentons

EmergIn Risk

Fieldfisher

Gibson, Dunn & Crutcher LLP

Herbert Smith Freehills LLP

Hogan Lovells US LLP

Husch Blackwell

Kennedys Law LLP

KYND

Mayer Brown

McCarthy Tétrault LLP

Microsoft

Perkins Coie LLP

Sheppard Mullin

Skadden, Arps, Slate, Meagher & Flom LLP

Slaughter and May

Spruson and Ferguson Lawyers

Tokio Marine HCC