This month’s Chambers Newsletter covers the latest Global Practice Guides, articles, podcasts, and videos from Expert Focus, as well as all our upcoming events.
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Chambers Global Practice Guides and Chambers Expert Focus
Our Global Practice Guides are yearly online guides that include articles written by legal experts in many areas of business law worldwide. The articles in our guides are in-depth commentaries from the best in their field, and because they come from lawyers on every continent, they allow the reader to compare the legislation and procedures described in these articles across different jurisdictions.
Chambers Expert Focus provides multimedia content (articles, videos, and podcasts) featuring legal professionals who offer fresh and concise insight into international legal practices.
Trending in Global Practice Guides
Sports Law
Published 28 March 2024
Our Sports Law 2024 e-guide is rapidly growing, with five additional jurisdictions covered in this year’s edition and a spike in interest from law firms looking to contribute to our 2025 publication. Introduced by Jamie Singer from Onside Law – an international firm acting for many of the major international governing bodies and federations in high-profile sports – this e-guide touches on most legal issues related to the sector, such as the acquisition of players, clubs and venues, broadcasting and media rights, online streaming, sponsorship, licensing and merchandising. Its pages also provide information on the steps regulators are taking to fight general complaints, threats and online abuse directed at participants, competitors and match officials – for instance, when a favourite athlete or team does not win.
We are reassured that this branch of the law continues to work towards the promotion of women in sports and the prevention of bribery, anti-doping and on-field violence while discussions are taking place about the possibility of merging men’s and women’s tournaments (for instance in tennis), and the rights of transgender competitors. With diversity, inclusion and fair competition at the top of their agenda, the enforcers of the Lex Sportiva will be fully occupied in developing effective strategies to guarantee a safer space for sportspeople and sports lovers worldwide.
At Chambers, we are incredibly proud to welcome a new addition to our portfolio of Global Practice Guides: our Debt Finance 2024 e-guide (to be published on 30th of April) that will focus on the issues linked to financial debt raised in the last few years, confronted with rapidly rising benchmark interest rates, bank collapses, persistent inflation, and the current conflicts, which brought repercussions on supply chains for primary products such as gas, carbon and wheat. In this series of articles, legal practitioners from various jurisdictions analyse key events from 2022 and 2023 in the debt finance market of their jurisdictions and their significant impact on the move towards sustainable finance and the pursuit of net-zero emission targets, reaffirming the sector’s responsibility in tackling climate change, etc.
This guide also describes the measures to fight money laundering and reports the shift from conventional to alternative funding (term loan B amend-and-extend deals, add-ons, covenant resets and other refinancings), with companies seeking capital resorting to more flexible financing options. The authors conclude with their market predictions for the coming year, mentioning the result of the US presidential elections in November as a significant element of impact not only on the economy in the USA but on the world as a whole. Will the market be less volatile? Will interest rates go down? Will a deeper recession be avoided? To answer these questions (and more), you must read this e-guide!
Corporate M&A
Published 23 April 2024
Year after year, the growth of this guide continues to amaze us as it has now reached the staggering record-breaking number of over 100 jurisdictions contributing! Since law firms from five different continents on Earth have written legal commentaries relating to the topic of mergers and acquisitions for this popular publication, then M&A is, in fact, one of the preferred specialisations among lawyers. Once again, we are also very honoured to have senior partner Frank Aquila, described by The Financial Times as “one of the most influential and high-profile M&A and corporate lawyers in the US”, opening the guide with his insightful overview of global M&A activities in the last twelve months – providing detailed facts, figures and projections on domestic and cross border deals, as well as new regulation connected to the development of antitrust and competition regimes. It is believed that if, following recent news events, transactions in M&A might have ‘slowed down’, then these are set to resume during 2024, with positive results outweighing the current downturn.
So, while the world grapples with its uncertainties and tensions, we hope that you will be able to allocate some of your time and enjoy this e-guide. We must politely warn you that reading it might take a bit longer than expected due to its significant expansion, but its contents will not disappoint. Let’s hope that we can do even better next year by delivering more chapters, facts, and reassurance to all our readers in the M&A sector.
In these not entirely healthy times, still afflicted by the mutations of common viruses such as flu and COVID-19, the landscape of medical sciences is looking at innovations in medical research. Luckily, the government’s plans and significant investment packages in the sector are encouraging these trends to grow. Very popular with some of our contributing counsels who are extremely knowledgeable about the pharmaceutical and biological industries, our Life Sciences 2024 e-guide provides information on recent legislature relating to the study of biology and pharmacology, informing us that, despite the concerns surrounding it, Artificial Intelligence is still actively used in the healthcare industry for the developments of drugs, digital trials and clinical decision-making. In the articles prepared by our 20+ legal commentators, emphasis is also given to the challenges presented to regulators with respect to genetic therapies in oncology, the increase in the costs of healthcare products, and the rise of obesity (and slimming) drugs. The description of some patient disputes battled in the courts also offers interesting reading, while our contributors from the UK discuss the possible legislative changes in healthcare in post-Brexit Britain.
Recent studies have shown that gambling is a common leisure activity in Finland, one of the countries with the highest number of gamblers per capita. Research suggests that more than two-thirds of the Finnish population is involved in gambling, with nearly 14% considered at risk of having a gambling problem. Given this potentially alarming data, the Finnish government remains committed to producing new laws and a new licensing system for the gambling industry.
Updates on the current gambling legislation in Finland will likely be introduced by 1 January 2026 at the latest, with the first draft likely to be issued this coming summer. Minna Ripatti, founding partner of Legal Gaming – a Finnish law firm specialised in i-gaming, entertainment and social gaming – reveals how a working group has been set up to write major outlines for the reform, which political steering groups will then review. Practitioners also face the uneasy task of drafting and imposing restrictions on local marketing and Veikkaus, the state-owned betting monopoly company. A busy time lies ahead for lawyers in Finland to ensure responsible measures are implemented in gaming and gambling to prevent these popular recreations from becoming a national addiction.
Legal Framework and Current Status of Digital Money in Japan
Are there people still handling notes and coins who can recall the exciting experience of their fingers touching those fresh-from-the-cashpoint colourful rectangles of filigree paper? Less so now, with the sensation itself vulnerable to becoming only a distant memory in future years. Digital money, or any payment tool in purely electronic form, is speedily replacing tangible money in the form of banknotes and coins in our daily chores, from banking or shopping to booking entertainment and travel. This interesting piece by legal experts Izuru Goto and Kenta Ikebe of City-Yuwa Partners explains how digital money is defined and classified in their jurisdiction in Japan through common transactions such as transfers, remittances and deposits.
The article also explains the difference between traditional digital and hybrid digital money and provides an overlook of all e-payment devices currently in use. The authors report on the regulations imposed on the issuers of digital money by the incoming Banking Act (also known as the Act on Settlement of Funds) – a legal framework touching on pre-paid payment instruments, security tokens and online systems, giving us an insight on the new technology that is turning paper notes and coins into a thing of the past.
Investing in Mining in Ecuador: Challenges and Successes
Some of us might know that the stunning country of Ecuador takes its name from the great circle around the Earth that separates the southern from the northern hemisphere and that its lush local produce – roses, chocolate, bananas and coffee, to name a few – is exported all over the world. Moreover, thanks to its natural reserves of gold, silver, copper, zinc, lead, kaolin and limestone (the latter two products being indispensable in making argil and cement), Ecuador has also become incredibly attractive to investors. In this captivating video Roque Bustamante, a partner at Flor Bustamante Pizarro & Hurtado, and Claudia Bustamante, an associate at the firm, explain that any potential individual or company planning to initiate a mining project in the country is bound to face significant opposition from local political parties, environmental groups and law enforcers, who often perceive mining as the cause of irreversible damages.
In the video, the lawyers tell us how the Ecuadorian legislators have stopped some investment projects while other ventures have successfully reached completion. Ecuador has richness in abundance to offer; at the same, it is understandable how its government and population would want to set obstacles to protect this patrimony. While the mining sector has the potential to provide significant profitable investments in Ecuador, we should pursue these opportunities in harmonious interaction with local businesses and landowners, whose main objective should be the respectful preservation of the country’s natural and social environment.
Changing the Course of Pre-dismissal Procedures in South Africa
Together with bereavement and divorce, going through a dismissal procedure has to be one of the most stressful experiences that anybody about to be fired might endure in their lifetime. In his informative article, Johan Botes from Baker McKenzie Johannesburg reveals how established disciplinary policies should be subject to careful review, especially if these are impractical and obsolete. Johan advises that, while handling a dismissal, South African employers should critically evaluate whether their businesses will truly benefit from a disciplinary procedure.
In his piece, the lawyer suggests a range of alternative options that could be advantageous for both employer and employee; for instance, bargaining and negotiation of exit packages or quicker hearings without lengthy cross-examinations of witnesses. Ultimately, in South Africa – like in many other countries – employers should provide valid reasons and follow fair processes before dismissing an employee; the insistence on implementing the known (and not always ideal) practices is bound to aggravate good relations among all parties involved and transpire at a significant expense of time, money and stress.
Listen to our informative Chambers Expert Focus podcasts, which include legal experts sharing their knowledge and analysing key themes and market trends.
Chambers Foro: Chile 2024 – Desafíos jurídicos en Chile: Transformando el escenario empresarial
On Thursday, 9th of May, we will be hosting our Chambers Foro: Chile 2024 at the W Santiago in Chile.
The event features a keynote address that will be delivered by Ximena Rincón González, Senator of the Republic of Chile and a range of speakers that will discuss:
Nuevo enfoque de la asesoría penal en el mundo corporativo
Ciberseguridad, protección de datos y privacidad: últimas actualizaciones regulatorias
Los cambios en la responsabilidad penal empresarial y su impacto en las compañías y responsabilidades de los miembros del Directorio
The full list of speakers is available here, and a downloadable version of the agenda is available here.
Chambers Virtual Forum: The Modern Slavery Act – A Practitioner’s View on Statutory Guidance
Join us on Thursday, 9 May from 6-7PM BST for a webinar co-hosted and sponsored by Furnival Chambers. The event will feature speaker, Caroline Haughey OBE KC from Furnival Chambers and discuss the Modern Slavery Act of 2015. Topics of discussion will include:
Dealing with allegations of labour exploitation in a commercial environment – When does poor employment become criminal employment? – red flags and warning signs
The impact on supply chain compliance; what is intended by the Act and what should you do?
The new EU directive (Directive on corporate sustainability due diligence CSDDD) – What impact does that have?
What’s next around the world from Ughar to the USA?
Registration is free for all attendees and available here.
Chambers Virtual Forum – Inovação aberta no setor jurídico
On Thursday, 16th of May, from 2-3PM BST, we will co-host a webinar sponsored by Mattos Filho that will discuss how open innovation can contribute to increasing the competitiveness and growth of law firms. The webinar will be moderated by Mateus Monteiro, Head of Brazil Research and Lisa Worcman, Partner, Mattos Filho will speaker.
