2020
Wikborg Rein assist Tronox with the acquisition of TiZir Titanium & Iron
Wikborg Rein assist together with Cleary Gottlieb and Credit Suisse the international mining and chemical group Tronox with the acquisition of TiZir Titanium & Iron from Eramet.
2020
COVID-19, unfair commercial practices and online platform liability
An unfortunate result of the coronavirus pandemic has been the increase of deceptive commercial practices that feed off the fear, worry and anxiety in the general public. Since March, the Norwegian Consumer Authority has prioritised the investigation of cases involving misleading advertising and the use of aggressive commercial practices to promote products that claim to cure, prevent or otherwise safeguard consumers from the coronavirus.
2020
Notification is the key: The prevention principle, delay and extensions of time under shipbuilding contracts
The decision in Jiangsu provides an in-depth analysis of how, if at all, the prevention principle applies to shipbuilding contracts and the importance of good contract management to notify and seek extensions for events of delay.
Technology and IT Law, COVID-19
2020
Do you want to share your technology for free in the fight against COVID-19?
Our days are characterized by a national and global effort to fight the COVID-19 virus. As long as we do not have vaccines, medicines or other solutions that can defeat the pandemic, countries around the world resort to curfew restrictions, guidelines for hand washing and social distancing to keep the virus from spreading. There is however no doubt that the race to fight the pandemic is on, and now "Open COVID Pledge" encourages organizations around the world to contribute to research and development by sharing their intellectual property rights for free. Recently, giants such as Facebook, Microsoft, Amazon and IBM announced that they are joining the initiative.
2020
The Legal 500 EMEA Rankings
Legal 500 provides annually and impartial guides and rankings on the leading law firms and lawyers. Last week they announced this year's results for Europe, Middle East and Africa (EMEA), and we are delighted to be rated in this guide along with many other great law firms.
2020
The coronavirus - labour law issues (updated 15 April)
We have compiled our assessments of certain practical issues for employers related to the coronavirus situation.
2020
New judgment regarding transfer of undertakings
Our society is highly affected by the corona crisis, and current labour law discussions are mostly related to temporary lay-offs and other forms of cost reduction. Transactions are and will however continue to be relevant, both during the crisis and not to mention when it (hopefully soon) is over.
Renewable energy, Oil and gas, COVID-19
2020
Rescue package CCS investments: What does it mean?
A recent rescue package launched by the Norwegian government intends, among other things, to stimulate activity levels through carbon capture and storage ("CCS") investments. What are the main elements of this scheme, and what does it mean for investors and suppliers?
2020
Navigating the liquidity squeeze
The COVID-19 virus and its countermeasures, the plunge in the oil price and extreme currency fluctuations are adding to the pain of a prolonged downturn in several shipping / offshore segments with imminent risk of liquidity loss. Decisive response is thus crucial to preserve value for the stakeholders involved.
Technology and IT Law, Data Protection, COVID-19
2020
COVID-19 and new IT solutions: Privacy in quarantine?
The corona virus is putting the health and social contemporary world in crisis. The spreading of the virus is very fast and the implementation of new IT solutions to manage both ascertained and potential corona contagions is under evaluation worldwide. The question is - how will the new technologies handle privacy of individuals?
2020
Temporary lay-offs
Temporary lay-off (Nw. "permittering") is an arrangement where the employee's duties lapse in full or in part, and the employer's duty of remuneration lapses correspondingly. Lay-offs are temporary and the employee maintains his/her status as an employee.
Technology and IT Law, Intellectual Property
2020
Uncertainties for the realisation of Unified Patent Court
In a decision published 20 March, the German Constitutional Court declared the vote on the ratification act of the Unified Patent Court (UPC) Agreement void because the German Parliament did not pass the act with the required majority.
2020
The COVID–19 virus: Legal challenges for the shipping and offshore industry
The fast spreading of the COVID-19 virus world-wide and actions by regulatory bodies create challenges for all industries, and particularly the shipping and offshore industry, being of international character.
Technology and IT Law, Protection of privacy, COVID-19
2020
COVID-19 and Data Protection
The Norwegian and three other European data protection supervisory authorities on employers' collection and disclosure of employee data.
2020
Responsibilities of the Board in times of crisis
With the effects of the corona crisis spreading into the economy, companies risk breaching financial covenants and facing illiquidity in the months to come. A number of companies will ultimately need to go through financial restructuring to ensure continued operations.
2020
Structuring bond buy-backs in declining markets
Fear of the Corona virus and a plummeting oil price has sent stock markets down and the credit spreads are widening significantly. With investors in sell-off mode issuers can buy back bonds at more attractive spreads, but buy-backs of listed bonds should take into account securities trading regulations and be structured properly.
2020
Shaping Europe’s Digital Future: The European Commission’s Digital Package
The European Commission has just published three important policy documents that outline its ideas and vision for Europe's digital future. A key aim is to create a single European data space, “a genuine single market for data, open to data from across the world where personal as well as non-personal data, including sensitive business data,” are secure and accessible to businesses. Our IT and Digitalisation team give an overview of the highlights from this digital package.
2020
Practical international trade law - Letters of Intent
Companies that enter into negotiations with foreign companies are often asked to sign a so-called Letter of Intent. With some awareness of the legal and practical significance of such a document, both legal and practical problems can be avoided.
2020
The impact of coronavirus on global trade and contracts
Headlines across the world are currently dominated by news of a new strain of coronavirus originating from the city of Wuhan, China. The virus is spreading rapidly, and has already resulted in numerous deaths.
2020
Wikborg Rein advising in the sale of EcoOnline
Wikborg Rein advised Summa Equity and Viking Venture with the sale of EcoOnline to Goldman Sachs Merchant Banking Division and Summa Equity Fund II.
2020
Kristoffer Lerum: New Partner in Bergen
Kristoffer is a Partner at Wikborg Rein's Bergen office and is part of the firm's Commercial Property practice. He is highly experienced within legal issues relating to law within the construction industry, procedural law, law of torts and contracts, negotiations, real estate etc.
2020
Wikborg Rein London advises BW on El Salvador's first LNG-to-power project
Wikborg Rein advised long-standing client BW Gas Ltd (BW LNG) in respect of its provision of a Floating Storage and Regasification Unit (FSRU) as part of the first integrated Liquefied Natural Gas (LNG)-to-Power project at the Port of Acajutla in the Department of Sonsonate in El Salvador, led by Invenergy and its project subsidiary Energía del Pacífico (EDP).
2020
Awilco LNG Sale and Leaseback
Wikborg Rein acts for Awilco LNG on US$350m Sale and Leaseback transaction of two LNG Carriers
China, Mergers and Acquisitions
2019
Wikborg Rein assisted Elkem ASA in the aqusition of Polysil
Wikborg Rein has proudly assisted Elkem ASA in one of the largest acquisitions ever conducted by a Norwegian-based company in China.
2019
Andreas Fjærvoll-Larsen: New Partner in Oslo
With comprehensive experience from international shipping/offshore transactions and an extensive international network, Andreas Fjærvoll-Larsen is ready to take on the role as Partner in Wikborg Rein from 1 January 2020.
2019
The Oslo Stock Exchange's requirements for detailed announcement and information memorandum will no longer apply
The Oslo Stock Exchange has today published new versions of the Continuing Obligations for stock exchange listed companies (Oslo Børs and Oslo Axess) and for Merkur Market.
Financing, Financial Regulation
2019
The CRR and CRD IV enter into force in Norway at year-end while the increase in systemic risk buffer is postponed till end of 2020
The Norwegian Ministry of Finance announced on Thursday 5 December that the CRR and CRD IV will (finally) enter into force in Norway on 31 December 2019. Further, on 11 December the Ministry published a proposal for adjustments to the capital requirements which will enter into force at year-end 2020. The Ministry is satisfied with the overall capital levels in Norwegian banks. The aim of the new measures is to ensure that Norwegian banks maintain their capital levels and that non-Norwegian banks are subject to the same requirements when operating in Norway.
2019
Wind power: NVE signals stricter deadlines for wind farm projects
In a letter sent to all holders of installation licenses for wind farms in Norway, the Norwegian Water Resources and Energy Directorate (NVE) informs of certain changes in their case handling of applications relating to extension of commissioning deadlines and MTA plan approval.
2019
Copyright protection of algorithms – impossible or just a question of definition?
Legal protection of algorithms has been subject of much debate over the years, and with the huge technological development, the topic is constantly gaining new relevance. Access to good and effective algorithms has become vital for companies that want to gain strong market positions, as giants like Google and Facebook use algorithms to generate customized content. The prevailing view among copyright lawyers has long been that algorithms are not protected by copyright because they are unprotected ideas behind computer programs. However, I think this is misleading and oversimplified.
2019
Ole Andenæs: New Oslo Partner
The firm's financial regulatory practice is considerable strengthened with the recruitment of Ole Andenæs. Ole joins us from the position as Head of Legal for the past three years in the investment bank Carnegie. Strong professional competence and unique market experience is what makes the 36-year-old ideal as a new partner in Wikborg Rein.
2019
New digital onboarding solution for clients
Wikborg Rein and PSA Consulting are now launching a digital solution for onboarding of clients for the legal industry. The Money Laundering Act and increased focus on protection of personal privacy and data security require that law firms develop control routines associated with money laundering, and that it can be documented that law firms oversee that routines and statutory requirements are followed.
2019
A look into Wikborg Rein's international competence
For nearly 100 years Wikborg Rein has been a law firm looking outwards, and the international aspect has always been a central part of our vision. As of today we are Norway's leading international law firm.
2019
Political Risk in the US Offshore Wind Industry
The long-term outlook for US offshore wind is promising, but the industry faces challenges in the near-term.
2019
Ingeborg V. Aavatsmark: New Partner in Oslo
We are very pleased to announce that Ingeborg V. Aavatsmark has been appointed as Partner in Wikborg Rein effective as from 2020 when she returns from parental leave.
Protection of privacy, Technology and IT Law
2019
GDPR, information security and the importance of carrying out "proper due diligence"
ICO issues statements of intention to fine British Airways and Marriott.
2019
Norwegian Court of Appeal strikes another blow against forum shopping in direct action case
In a recent decision, the Court of Appeal held that Norwegian courts do not have jurisdiction under the Lugano Convention in a direct action concerning a ship collision in the Singapore Strait. The decision follows the Supreme Court's decision last year which set aside the Court of Appeal's previous decision which had found that there was jurisdiction.
2019
Poseidon Principles – Global framework for responsible ship finance
Major international shipping banks have recently launched a collaboration for integration of climate considerations into their lending decisions. The "Poseidon Principles" establish a common, global baseline to quantitatively assess and disclose whether financial institutions’ lending portfolios are in line with adopted climate goals.
2019
Cathrine B. Hetland: New partner in Oslo
This week, we have had the pleasure of welcoming Cathrine B. Hetland as a new partner at our Oslo-office. Cathrine is an experienced lawyer within oil and gas and will join the Energy & Renewables team at Wikborg Rein.
2019
The UK Supreme Court’s decision in the “Renos” on CTL and the position under the Nordic Plan
The UK Supreme Court’s recent decision in the “Renos” (Sveriges Angfartygs Assurans Forening (The Swedish Club) and others v Connect Shipping Inc and another, [2019] UKSC 29) will be a landmark case on marine insurance under the English Institute Time Clauses Hulls (1/10/83) ("ITCH") conditions. It clarifies that when determining whether a vessel is a constructive total loss (“CTL”) under the ITCH conditions, regard should be had to (a) the costs incurred prior to the owners’ notice of abandonment, but not (b) remuneration payable under the SCOPIC clause. The decision will have significant importance in the insurance market because of the financial and practical implications. But what would be the position under the Nordic Marine Insurance Plan of 2013 version 2019 (“Nordic Plan”)?
Compliance and crisis management
2019
A responsible business life
We are fully aware of the fact that businesses may have great impact on environment, society and individuals. Still, the last couple of years we have seen a significant development regarding requirements and expectations for businesses to act responsibly. Increasingly more investors and companies are focusing on responsibility and sustainability – business and ethics coincide.
International sanctions and export control
2019
Iranian Metal Sanctions Update
• US sanctions now prohibit Norwegian companies and banks from engaging in most transactions in Iran's metal sector. • There are fewer than 60 days left to wind down Iranian metal transactions that began before the sanctions were implemented.
2019
Shipbuilding Portal – digital building contracts
Wikborg Rein is launching a new digital service aimed at the shipping industry. The Shipbuilding Portal is a user-friendly online solution for the drafting of shipbuilding contacts based on the Standard Form Norwegian Shipbuilding Contract 2000, often referred to as "Ship 2000". It will simplify the drafting process and provide access to relevant practical information.
International sanctions and export control
2019
Significant shift in US extraterritorial sanctions against Cuba. US sanctions and EU regulations go head to head
On 17 April 2019, the Trump Administration announced that US nationals will be allowed to file lawsuits against any person or company trafficking in Cuban confiscated property, before US courts. This by activating the long-suspended Title III of the Libertad Act. In his reasoning, the Secretary of State remarked that "Sadly, Cuba’s most prominent export these days is not cigars or rum; it’s oppression." The EU views the decision as contrary to international law and will, according to its High Representative, use the EU Blocking Regulation to prohibit EU persons from complying with it.
Protection of privacy, Technology and IT Law
2019
Google and Apple asked to provide better information on the use of personal data
A recent initiative co-ordinated by the Norwegian and Dutch consumer associations has asked Google and Apple to respectively provide better information to their users.
2019
Kaare Andreas Shetelig named Future Leader of Arbitration
We are happy to announce that our partner and lawyer, Kaare Andreas Shetelig, has been included on the 2019 list of "Future Leaders of Arbitration" by Who's Who Legal.
2019
Wikborg Rein on global top 100 list within international arbitration
Our expertise within dispute resolution – both domestic and international – has been recognized with several prestigious achievements lately.
Protection of privacy, Technology and IT Law
2019
The UK prepares for Data Protection after Brexit: Two New Regulations
When the UK leaves the EU, the General Data Protection Regulation (GDPR) will no longer be directly applicable in the UK. Two new sets of regulations have therefore been recently promulgated by the British Parliament to retain, as much as possible, the status quo and are meant to come into effect upon the UK's withdrawal from the EU. Both sets of regulations were issued pursuant to the UK's European Union (Withdrawal) Act 2018.
2019
Wikborg Rein launches digital client portal
Clients will now have the opportunity to get complete overview of the client relationship and share important case information in real time with their lawyers. It also allows users access to specialist tools that the lawyers are using - safe and effective in one portal.
Protection of privacy, Technology and IT Law
2019
Two recent decisions of the Norwegian Privacy Appeals Board
The Norwegian Data Protection Authority (NDPA) has a broad set of powers, including the power to deliver warnings, reprimands or impose fines on data controllers and processors for non-compliance with the new Personal Data Act and the GDPR. As the new Personal Data Act and the GDPR only recently came into force, there are not yet many decisions based on the new legal regime. However, some of the recent NDPA decisions were appealed to the Privacy Appeals Board (PAB) and the appeal decisions have referred to the new legislation. Two such recent decisions respectively concern the data subject's right to object to processing and the right to erasure.
International sanctions and export control
2019
We are launching WR Sanctions Alerts
We aim to provide you with a quick and timely update on the latest developments in respect of EU, US, UN and Norwegian trade and economic sanctions against countries/regimes.
Protection of privacy, Teknologi og IT-rett
2019
List of processing operations where a DPIA is always required
The Norwegian Data Protection Authority has recently published a list of processing operations that shall always require a data protection impact assessment (DPIA) pursuant to article 35(4) of the General Data Protection Regulation (GDPR).
2019
Brexit – UK firms providing investment services and activities in Norway
A temporary regime is in place allowing for continued provision of services in Norway after Brexit.
2019
Landmark wind power transaction in Norway
Wikborg Rein would like to congratulate Stadtwerke München GmbH (SWM) with its landmark 1,5 GWh wind power transaction in Trøndelag.
2018
Legal digital innovation: The future is here
For Wikborg Rein, digital innovation means implementing solutions that eliminates labour intensive tasks to the clients benefit. Multiple documents can be analysed and categorized far more efficiently by AI-driven systems.
2018
London Calling
The London office is the largest and leading office in our international strategy. We are pleased to welcome three of London's foremost lawyers within shipping and energy as partners of our London team.
2018
Wikborg Rein appoints two new partners in London
We have appointed two new partners to our Shipping, Trade, Energy & Infrastructure team in London.
2018
New office, organic growth and a modest forecast
In a time of political uncertainty for Britain it seems almost surprising for companies to be undergoing expansion. After speaking with Chris Grieveson, the managing partner of the Wikborg Rein London office, it is apparent that Brexit will not be a problem for Wikborg Rein in London and that the Norwegian approach to corporate culture has been beneficial for Wikborg Rein's success within the country.
Compliance and crisis management
2018
Guidance on drafting and interpreting contractual sanctions clauses
In this article, we discuss the first UK case dealing with the scope of a sanctions exclusion clause in the context of the re-imposed US sanctions on Iran and the EU Blocking Regulation. We also provide some pointers for in-house counsel drafting sanctions exclusion clauses.
2019
Liquidated damages clauses – the position on penalties confirmed
The recent case of in the English High Court confirmed the enforceability of liquidated damages agreed by commercial parties even if the liquidated damages to be recovered are not an exact or precise estimate of loss.
2018
Are we entitled to know what the robots are thinking?
When Hermon Melles (26) planed his master's thesis he decided to find a research topic that included both his major interests: law and technology. While writing his thesis at the offices of Wikborg Rein he has been given the opportunity to converse with some Norway's most competent lawyers within data protection and technology.
2018
The new Norwegian anti-money laundering legislation will enter into force 15 October 2018
The new Norwegian Anti Money Laundering Act was adopted 1 June 2018. A new Regulation, supplementing the Act, was adopted 14 September 2018. Both the Act and Regulation will enter into force 15 October 2018.
Compliance and crisis management
2018
Privilege in the UK – a landmark decision
A High Court decision limiting privilege in relation to advice prepared for a company regarding claims of fraud and corruption has recently been overturned by the Court of Appeal in London. The decision widens the scope of protection for disclosing documents created by internal investigations and should give comfort to organisations facing such allegations.
2018
Transaction tips from our competition team: Clean Teams
In the middle of deal negotiations or transaction due diligence it is prudent for the buyer, or the merging parties, to get to know as much about the target or its new partner as possible. When the companies involved are competitors, however, this information sharing can raise its own concerns.
2018
Anti suit injunctions – are they still available in the EU?
In the recent case of Nori Holdings and others v. Public Joint Stock Company – Bank Otkritie Financial Corporation, the English High Court was asked to decide whether anti-suit injunctions could now be granted to restrain proceedings in another EU state. They decided that the answer was still "no".
2018
Proposal to parliament – beneficial ownership register act
Today the Ministry of Finance presented a proposal for a new Beneficial Ownership Register Act. The proposal will implement the EU Fourth Money Laundering Directive chapter III on beneficial ownership information.
2018
Transaction tips from our competition team: Gun-Jumping
When businesses decide to pursue a transaction they are understandably keen to complete and implement the deal as soon as possible in order to realise the anticipated synergies. However, when a deal requires clearance from one or more competition authority, there is often a prohibition on implementation pending receipt of the necessary clearances. Taking implementing steps in breach of this prohibition is called 'gun-jumping'.
Oil Gas and Renewable Energy, Transaction
2018
Wikborg Rein contributes to the realisation of the 200 MW Tonstad wind farm
We have assisted the renewable energy fund manager SUSI in their acquisition of 80% of the shares in Tonstad Vindpark AS, a company holding a license to build and operate the 200 MW Tonstad wind farm in Norway.
2018
Wikborg Rein assisting Hunter Group and Dwellop
We have assisted Hunter Group ASA in connection with its acquisition of up to seven VLCC Shipbuilding contracts and a private placement of NOK 520,000,000.
2018
The Naftogaz-Gazprom saga
Great article in the law magazine (Jusbilaget) of the Norwegian business daily "Finansavisen" about the Naftogaz-Gazprom saga, in which Wikborg Rein represented Naftogaz:
2018
Main partner for Corporate Cup
Wikborg Rein is one of the main partners for Corporate Cup, a spectacular winter event launching for the first time in Norway. At Norefjell, a group of companies will meet for a combination of debates on challenging topics relevant for business, skiing competition, networking and fun.
Protection of privacy, Technology and IT Law
2018
The WP29 Opinion 2/2017 on data processing at work
Article 29 Working Party (WP 29), consisting of data protection authorities from all EU and EEA states and the European DP Supervisor, has recently issued an Opinion 2/2017 on data processing at work ("the Opinion").
2018
We have adopted AI from Luminance
Wikborg Rein has adopted Luminance, the leading artificial intelligence platform for the legal profession.
2018
Corporate criminal liability; the impact of an effective compliance program
An effective compliance program is essential for any business and it needs to be strong, both on paper and in practice. It addition to providing measures to assist companies to prevent, detect and respond to violations of laws and regulations, such programs have an important role to play as part of any defence against corporate criminal investigations and prosecutions.
International sanctions and export control, Compliance and crisis management
2018
What Do President Trump's Iran Threats Mean for Norwegian Companies?
At last month's State of the Union address, President Trump called on Congress to "address the fundamental flaws in the terrible Iran nuclear deal". Trump has been attacking the deal, formally known as the Joint Comprehensive Plan of Action (the "JCPOA"), since he began campaigning for the presidency. But this latest statement, made at one of Washington's most important political events and coming on the heels of Trump's January 12 threat to withdraw from the JCPOA, suggests that the president may be closer to taking action. If Trump does decide to end US participation in the JCPOA, how will he do it? And what will this mean for Norwegian companies considering business in Iran?
2018
Contract Update – Written vs Oral Variations
What happens when a contract says that all variations must be in writing, but the parties then try to vary that contract orally? Can they do this? The UK Supreme Court recently looked at this and decided the answer is "no".
2018
BARECON 2017 – a broad brush revision of a widely used form
BIMCO has today, 13 December, released the new BARECON 2017 – a revision of its 16 year old predecessor BARECON 2001. This represents an important update to one of the most commonly used maritime contracts – regularly applied for all types of maritime assets across all sectors in the shipping and offshore industries.
2018
Bareboat registration in and out of Norwegian Ship Registries
On 5 December 2017 the Norwegian Ministry of Trade, Industry and Fisheries issued a consultation paper with proposed changes to the legislation for registrations of vessels in the Norwegian International Ship Registry (NIS) and the Norwegian Ordinary Ship Registry (NOR). The two Norwegian Ship Registries does not currently allow bareboat registration of vessels, but the proposal suggests to open up for such registration both into and out of NIS and NOR. The proposal is intended to meet the practical needs of the maritime industry and make the rules for vessel registration in Norway more flexible and internationally competitive.
2018
Should privilege against self-incrimination apply to corporate investigations?
Privilege against self-incrimination is a fundamental principle that protects witnesses from revealing information which might expose them to an accusation or criminal charge. Many legal systems recognise this privilege, and in Norway the right to protect oneself against self-incrimination is a rule of law. The privilege derives both from the right to a fair hearing as defined in article 95 of Constitution and article 6(1) of the European Convention on Human Rights in addition to article 14(3)g of the United Nations Convention on Civil and Political Rights. In the US the privilege is enshrined in the Fifth Amendment to the Constitution.