SPANISH UPDATE – COVID-19 and Investments: Spain Enacts Screenings for Sensitive Non-European Investments

*Originally distributed on April 3, 2020 On 19 March 2020 Spain re-introduced foreign investment screenings by executive order. In doing so, the Government confessed aim is to protect Spanish companies in their time of financial weakness as a result of the COVID-19 pandemic. However, the measures are not time-limited and are intended to survive the … Continued

This article was co-authored by Juan Miguel Goenechea, Juan Martín Perrotto and Pedro Ravina, partners at Uría Menéndez (Spain).


INDIAN UPDATE: Further Measures Taken by SEBI in Light of the COVID-19 Outbreak

*Originally distributed on April 2, 2020. Since our Client Alert dated March 21, 2020 (accessible here), the Securities and Exchange Board of India (‘SEBI’) has taken further measures in light of the COVID-19 outbreak. Some of the key features are set out below. 1. Reduction in Compliance Burden on Market Participants By its press release … Continued

This article was contributed by AZB Partners (Mumbai)


UK UPDATE: The Impact of Covid-19 on Competition Law

*Originally distributed on April 1, 2020 The Covid-19 pandemic and the exceptional containment and lockdown measures adopted around the world to protect public health and suppress the spread of the virus have had a significant impact on the global economy and have created severe constraints for many businesses. It is clear that collectively many companies … Continued

This article was contributed by Cameron Firth (Partner), Christophe Humpe (Partner) and Fiona Beattie (Senior Counsel), Macfarlanes (London)


UK UPDATE: Keeping Shareholders Informed During The COVID-19 Crisis: An Update

*Originally distributed on March 31, 2020 Companies are currently dealing with unprecedented challenges, with some facing an existential threat. With new developments occurring daily, we highlight below key points that have emerged in the last week or so that companies should consider in the context of their communications with investors. Financial results and reporting In … Continued

This article was contributed by Slaughter and May (London)


DUTCH UPDATE: Corporate Governance: Focal points for directors

*Originally distributed on March 26, 2020 In these difficult times, directors are expected to adopt a proactive attitude. Amongst other actions, the managing and supervisory directors of Dutch companies should consider taking the following steps from a Dutch corporate governance perspective: Ensuring the health and safety of employees and other relevant stakeholders; Proactively and periodically … Continued

This article was contributed by Maarten Buma (Partner) and Geert Raaijmakers (Partner), NautaDutilh (Amsterdam)


EU UPDATE: Managing the Crisis Through Coordination?

Joint Statement by the European Competition Network on the Application of the EU Competition Laws in the COVID-19 Crisis While public life is almost coming to a stop across the EU, and the severe impact of the COVID-19 pandemic on the Continent’s economy is becoming ever more apparent, the eyes are turning to the European … Continued

This article was authored by Marcus Roehrig (Partner) and Joachim Hannes Burger (Associate), Hengeler Mueller (Brussels)


CHINESE UPDATE: For enterprises that are resuming operations: how to prepare an emergency plan for the prevention and control of Novel Coronavirus Pneumonia

*Originally distributed on March 5, 2020. Introduction: Since the outbreak of Novel Coronavirus Pneumonia (“NCP”), China’s provinces, autonomous regions and province-level municipalities have successively launched public health emergency plans in their respective administrative regions and taken actions to contain NCP. Local governments in regions such as Zhejiang, Gansu, Anhui and Shanghai have set out requirements … Continued

Editors’ Note: Contributed by Adam Li, partner at JunHe and member of XBMA's Legal Roundtable.  Mr. Li is a leading expert in international mergers & acquisitions, capital markets and international financial transactions involving Chinese companies.  

This article was authored by the JunHe EHS Team: JunHe, with over 800 professionals, is one of China’s sizable comprehensive law firms with an international reputation for providing high-quality legal services. As one of the pioneers in the legal areas of the environment and health and safety production (“EHS”) in China, JunHe EHS team provides multinational enterprises with a full range of EHS legal services that cover, among others, the project development and incorporation of joint ventures, M&A transactions, daily operation, EHS compliance, government investigations, administrative punishments, reconsiderations and litigations.


The Coming Impact of ESG

The Coming Impact of ESG Recent months have seen institutional investors and other stakeholders, notably BlackRock and State Street, stressing the importance of comparable and decision-useful ESG disclosures by their portfolio companies.  Such calls follow in the wake of growing interest among investors and other stakeholders in understanding and assessing the performance of companies based … Continued

CANADIAN UPDATE – Top Competition and Foreign Investment Review Trends and Issues for 2020

*This article was originally distributed on January 21, 2020 In our annual forecast of the year ahead for Canadian competition and foreign investment review law, we evaluate how developments in 2019 will influence these areas of the law in 2020. We discuss below the main issues and trends to watch for this year. Continued Focus … Continued

Editors’ Note: This article was co-authored by John Bodrug, Anita Banicevic and Jim Dinning, partners at Davies Ward Phillips & Vineberg LLP (Toronto).


U.S. UPDATE – 2020 Checklist for Successful Acquisitions in the United States

Cross-Border M&A – 2020 Checklist for Successful Acquisitions in the United States M&A continued its robust pace in 2019, with nearly $3.9 trillion in global deal volume for the year, the third-highest volume of the last decade.  The U.S. market was particularly strong, making up for relative weakness in Europe and Asia.  The boom was … Continued

Editors’ Note: This submission updates a checklist co-authored by Messrs. Emmerich and Panovka, members of XBMA’s Legal Roundtable, with their colleagues at Wachtell Lipton, Jodi J. Schwartz, Scott K. Charles, David A. Katz, Andrew J. Nussbaum, Ilene Knable Gotts, Mark Gordon, Joshua R. Cammaker, William Savitt, Andrea K. Wahlquist, Karessa L. Cain, T. Eiko Stange, Joshua M. Holmes, Eric M. Rosof, Gordon S. Moodie, Emil A. Kleinhaus, Edward J. Lee, Raaj S. Narayan, Amy R. Wolf and Matthew T. Carpenter.



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