Sponsored briefing: Portugal as a magnet of foreign direct investment

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Sponsored briefing: Portugal as a magnet of foreign direct investment

In 2022 Portugal climbed to eighth place in the ranking of ‘top ten’ of European economies that most attract foreign direct investment projects, following a couple of decades in which investing in Portugal has been a common topic in different worldwide forums.

During that period Portugal managed to attract to its territory projects of the greatest importance, such as the Volkswagen’s vehicle-production unit in Portugal, a joint venture established in 1991 initially between Volkswagen and Ford, which constitutes the largest foreign investment in the country, contributing to more than 1.5% of its GDP (pre-pandemic data) and creating a high number of direct and indirect jobs in a region in the south outskirts of Lisbon.
Continue reading “Sponsored briefing: Portugal as a magnet of foreign direct investment”

Ireland focus – The thunder rolls

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Ireland focus – The thunder rolls

To a London hack hitting the streets and the meeting rooms of Dublin for the first time since coronavirus struck, Ireland’s capital is abuzz, perhaps more so than usual. Somewhat inexplicably, there are excited hordes of Americans wherever you turn, many of whom look as if they’ve just stepped off the set of a spaghetti western.

All becomes clear in the first coffee meeting of the day. ‘Garth Brooks is playing five shows at Croke Park,’ laments one managing partner, with an eye-roll. ‘It’s bloody desperate.’ Clearly not a fan. Continue reading “Ireland focus – The thunder rolls”

The Ireland debate: Top GCs gather in Dublin to thrash out the strategic role of in-house counsel

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The Ireland debate: Top GCs gather in Dublin to thrash out the strategic role of in-house counsel

Nathalie Tidman, Legal Business: What sector-specific challenges are you facing when it comes to strategic decision-making in-house?

Sally Anne Sherry (pictured), Bartra Group: There are a couple of challenges that are specific to real estate, and those are often related to legislative changes that happen quite quickly. For example, when co-living was introduced in Ireland and then effectively banned again with little warning. In the last few years, we have also been dealing with difficulties with the planning system and judicial reviews. A lot of the press coverage of it has gone quiet, but we are still stuck in judicial review cases where we are trying to deliver units and we cannot get out of the court system. Continue reading “The Ireland debate: Top GCs gather in Dublin to thrash out the strategic role of in-house counsel”

Sponsored briefing: Sustainable finance instruments: green bonds

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Sponsored briefing: Sustainable finance instruments: green bonds

Over the last decade, considering global warming and climate change issues, one of the most significant financial innovations in the sustainable finance area has been the development of green bonds. The demand for green bonds, to a large extent, is attributable to the growing prominence of climate issues. As public and private institutions around the world are necessarily more attentive in terms of adoption of sustainable and socially responsible policies, the investors and shareholders are now more aware of the risks of climate change. Likewise, corporates are considering alternatives to create economic value while also contributing to safeguard of the future. Therefore, although sustainable financing methods were already on the rise prior to the pandemic, they are now even more significant instruments for raising funds for green and sustainable recovery projects.

European Investment Bank (EIB) and the World Bank pioneered the first green bonds, with EIB issuing its Climate Awareness Bond in 2007, as a structured bond with proceeds dedicated to renewable energy and energy efficiency projects and the World Bank issuing its first green bond in 2008 to raise funds from fixed-income investors to support lending for eligible climate-focused projects. Since then, the market for green bonds has grown considerably. According to a report by Climate Bonds Initiative, annual green bond issuance topped half a trillion in 2021 for the first time, which represented a 75% increase on prior year volumes. Recently, green bonds have been issued by issuers in more than 50 countries and the United States of America has the largest source of green bonds. Continue reading “Sponsored briefing: Sustainable finance instruments: green bonds”

Sponsored briefing: Interview with Mustafa Yelligedik, legal affairs president at AG Anadolu Grubu Holding

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Sponsored briefing: Interview with Mustafa Yelligedik, legal affairs president at AG Anadolu Grubu Holding

AG Anadolu Grubu Holding AŞ (Anadolu Group) has more than 80,000 employees working in approximately 80 group companies operating in 19 countries across a variety of sectors (eg, beer, soft drink, retail, agriculture, automotive, energy, fast food and stationery). These include Anadolu Efes, the fifth-largest brewery in Europe and 11th in the world, and Migros, one of Türkiye’s largest supermarket chains, as well as Coca-Cola’s Turkish operations.

What was it that made you want to become a lawyer? Continue reading “Sponsored briefing: Interview with Mustafa Yelligedik, legal affairs president at AG Anadolu Grubu Holding”

Ports in a storm – the offshore leaders thriving in turbulent times

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Ports in a storm – the offshore leaders thriving in turbulent times

If market commentators thought the world was ready to get back on an even keel after two years of global pandemic, events of recent months have very much put paid to that notion. But while law firms and their clients still have much volatility to contend with, the 2022 financial results season has once again underlined the resilience of the global legal market, with a steady stream of firms posting more than healthy revenue and profit hikes.

And the leading offshore law firms are no exception, with booming deal markets, post-pandemic restructuring work and emerging trends such as environmental, social and governance (ESG) contributing to a landmark year for many. Continue reading “Ports in a storm – the offshore leaders thriving in turbulent times”

Israel focus: Sea change

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Israel focus: Sea change

‘Trying to analyse retroactively the last 12 months is probably the most challenging assignment.’ So reflects Mike Rimon, corporate and securities partner at Meitar Law Offices. ‘Those 12 months consist of the second half of 2021 and the first half of 2022. The contradiction is as big and significant and meaningful as it can be.’

It’s no secret that events of the last few months have caused the global economic outlook to change dramatically from the buoyancy of last year. Despite the shadow of the Covid-19 pandemic lifting from many parts of the world, a fall in consumer confidence caused by Russia’s invasion of Ukraine, ongoing global supply chain issues and spiralling inflation rates mean that almost every jurisdiction is experiencing a slower 2022. Israel is no exception. Continue reading “Israel focus: Sea change”

Sponsored briefing: Towards better corporate governance of publicly traded companies with no controlling shareholder(s) – The current situation in Israel and the outstanding bill

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Sponsored briefing: Towards better corporate governance of publicly traded companies with no controlling shareholder(s) – The current situation in Israel and the outstanding bill

For many years, most (practically almost all) of the publicly traded companies in Israel have been controlled by a single shareholder (or by a group of shareholders, acting in concert) – not unlike many other jurisdictions in the world (with the substantial exceptions of the US, Canada, Australia, and the UK)1.

Therefore, for decades the Israeli legislator has been focused on agency costs in general2 and more specifically on horizontal agency costs.3 Among other things, publicly traded companies were required to appoint at least two external directors (who have no linkage to the company and/or to its controlling shareholder/s, whose tenure is limited, whose compensation is subject to statutory caps and whose appointment is to be approved by: (i) a simple majority of all of the shareholders and by (ii) a simple majority of the non-interested shareholders, or with the objection of non-interested shareholders who hold less than 2% of the company’s voting rights – hereinafter a ‘Special Majority’4 and ‘External Directors’). Also – the approval of interested-party transactions involving or related to directors or officers is conditioned upon the approval of any or all (depending on the type and scope of the transaction and the seniority of the office holder in question) of the following organs: the board of directors (the ‘Board’), the Compensation Committee of the Board (in case of approval of terms of employment), or the Audit Committee and the shareholders (and where the interested party is a controlling shareholder – the approval of the Special Majority)5. Continue reading “Sponsored briefing: Towards better corporate governance of publicly traded companies with no controlling shareholder(s) – The current situation in Israel and the outstanding bill”

Sponsored briefing: The advantages and the disadvantages of a small country

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Sponsored briefing: The advantages and the disadvantages of a small country

The past two years have brought many Covid-19 related challenges in almost every aspect, but as far as intellectual property (IP) in Israel is concerned, it also created opportunities. Israel was not unprepared; its extensive experience in dealing with crises, coupled with its top technological abilities, have proven themselves equal to coping with the pandemic.

All the services of the Israeli Patent Office were provided almost as usual, thanks to the significant investment made in the past to develop online services, with the exception of certain legal proceedings which could not be conducted online. Continue reading “Sponsored briefing: The advantages and the disadvantages of a small country”

Sponsored briefing: Israel’s unicorn success story boosts optimism

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Sponsored briefing: Israel’s unicorn success story boosts optimism

As the world faces economic uncertainty, rising costs, and inflation, the tech scene in Israel offers optimism and relief. Lee Saunders of Nishlis Legal Marketing comments

Ancient Greeks and Romans once described unicorns as extremely quick and light on their feet, with a horn that was highly prized by merchants and investors. It is a characterisation to be applied to today’s ‘unicorn’ companies – start-ups worth over US$1bn. A disproportionate number of unicorns grow in Israel and have helped the country to weather recent storms. Continue reading “Sponsored briefing: Israel’s unicorn success story boosts optimism”