Wikborg Rein 100 years young

Litigation and Arbitration

2023

Stopping assignment to an insurer: Dassault Aviation SA v Mitsui Sumitomo Insurance Co Ltd

How does a non-assignment clause fare against a "mandatory" transfer of rights to an insurer? Dassault vs Mitsui considered what is meant by an "involuntary transfer", and when it can be prohibited by a contractual provision.

Transaction

2023

Wikborg Rein assisting with a private placement in Kezzler AS

We are proud to announce that we have assisted Kezzler AS with a private placement of new shares directed towards Tomra, DNV and Investinor. In connection with the investment, Tomra has also acquired shares from the existing shareholder Watrium AS, resulting in Tomra becoming the largest shareholder in Kezzler post the transaction.

Ranking, Fisheries and Aquaculture, Financing, Capital Markets, Compliance and crisis management, Mergers and Acquisitions, Dispute Resolution, Restructuring and Insolvency, Shipping Offshore, Competition law, Contract and Construction, Employment Law, Renewable energy and infrastructure, Intellectual Property, Commercial Property, Tax Law, Technology and digitalisation

2023

Wikborg Rein top ranked in Chambers Europe 2023

We are very pleased to announce that we have also in 2023 been top ranked in Chambers Europe, an annual ranking guide for Europe's leading law firms.

Company Law, Sustainability, China, Capital Markets

2023

The International Women's Day 2023: - We need to get rid of gender stereotypes

In connection with the International Women’s Day, we have had a chat with our lawyers Hedvig Bugge Reiersen, Tonje Hagen Geiran, Xiaomin Qu and Camilla Perona Fjeldstad.

Litigation and Arbitration, Environmental law

2023

Has the forum shop opened for business?

Here we consider a high profile procedural decision of the English Court of Appeal, which included commentary on the common law doctrine of forum non conveniens: Municipio de Mariana v (1) BHP Group (UK) LTD (2) BHP Group Ltd.

Transaction

2023

We have assisted in the sale of Timegrip AS

We are happy to announce that we have assisted the shareholders in Timegrip AS in connection with the sale of the company to Timeplan International ApS., a Danish workforce management solutions company backed by Main Capital Partners.

International sanctions and export control

2023

EU adopts tenth package of sanctions on Russia

Close to midnight on Friday 24 February, the Council reached a consensus on the tenth package of sanctions on Russia. The new sanctions coincided with the commemoration of one year since the full-scale invasion and war of aggression against Ukraine.

China, Data Protection

2023

China: Long-awaited standard contract released and filing requirement added for transfer of personal information out of China

On 24 February 2023, the Cyber Administration of China ("CAC") issued measures containing a standard contract template for transfers of personal information, detailed guidelines including for a required impact assessment and a filing-requirement for transfers of personal information from China to other countries.

International sanctions and export control, Compliance and crisis management

2023

Sanctions and money laundering on the agenda

On Thursday last week, we kicked off the first anniversary seminar of the year with our Sanctions and Money Laundering Day at the National Museum.

International sanctions and export control

2023

US and UK impose new sanctions on Russia

Earlier today, on 24 February 2023, one year after Russia's full scale invasion of Ukraine began, the US and the UK imposed further sanctions on Russia. As of yet, no consensus has been reached on the EU's tenth package of sanctions.

Shipping Offshore

2023

The Thorco Lineage

The decision relates to an application pursuant to s.45 of the Arbitration Act 1996 for the determination of a point of law by the Court. The point related to the way in which the limitation sum under Article IV (5)(a) of the Hague Visby Rules ("HVR") is to be calculated where there is both physical damage and economic loss to the cargo.

Competition law

2023

The Norwegian Supreme Court permits merger between Schibsted and Nettbil

In the Norwegian Supreme Court's first judgment in a merger control case, it has sided with the merging parties against the competition authority. Why?

Capital Markets, Company Law

2023

Company with listed shares? – 4 things to consider before the annual general meeting

Companies with listed shares are required to publish notices of general meetings in due time prior to the meetings, and it is therefore important to start the planning well in advance.

Ranking

2023

Wikborg Rein top ranked in Chambers Global 2023

It is with great pleasure we can announce that we have again been top ranked in the annual guide Chambers Global 2023.

Shipping Offshore

2023

MUR Shipping v RTI: "Reasonable endeavours" decision overturned

Previously, we wrote about the case of MUR Shipping v RTI and whether the obligation in the relevant force majeure clause to use "reasonable endeavours" to overcome a force majeure event required "non-contractual" performance. The English High Court held that it did not. This decision was overturned by the English Court of Appeal.

Renewable energy and infrastructure, Environmental law

2023

Onshore wind power – increased local influence

On 13 January 2023, the Norwegian Government issued a consultation paper with a proposal for changes to the licensing process for onshore wind power projects. The main take-away is that the proposal will significantly increase the municipalities' influence over new projects, as new municipal planning and zoning requirements must be concluded before a specific wind power project may be granted a license in accordance with the Energy Act.

Shipping Offshore

2023

Safety first: The position on demurrage

The High Court has clarified when a shipowner may disregard charterers' voyage instructions without interrupting demurrage, in a decision which underlines the obligation on voyage charterers to choose safe ports and safe berths for the vessel to proceed to.

Shipping Offshore

2022

BIMCO Infectious or contagious diseases clause for time charter parties 2022

In anticipation of possible cases of future pandemics and epidemics, BIMCO redrafted its 2015 Infectious or Contagious Disease Clause for Time Charter Parties, providing more clarity for shipowners and charters when it comes to risk and costs obligations as a consequence of disruption and delay.

Shipping Offshore

2022

EU Emissions Trading System to expand to shipping from 1 January 2024

After prolonged negotiations, the EU has agreed to include maritime emissions in the EU Emissions Trading System (EU ETS) from 1 January 2024.

Data Protection

2022

EDPB focuses on BCR-Cs: New recommendations 01/2022 for BCR-C sent for public consultation

In 2021 and 2022, many businesses in Norway were busy performing a Schrems-II assessment of their transfers of personal data to third countries, and transitioning to the modernised standard contractual clauses (SCC) issued by the EU Commission in 2021.

Student, Career

2022

We want to inspire more people to choose law

As one of Norway’s largest and most international law firms, we represent many nationalities and cultures. Still, it’s no secret that we want to reflect today’s modern and diverse Norway even better than we do today.

Capital Markets

2022

Norwegian depository receipts (NDR) have now been issued – a novelty in the Norwegian market finally available

Non-Norwegian companies targeting the Norwegian market may now issue Norwegian Depository Receipts, representing the beneficial interest in the company's shares.

International sanctions and export control

2022

EU adopts ninth package of sanctions on Russia, UK imposes new financial and trade sanctions on Russia, Norway implements price cap on Russian crude oil

Earlier today, the 16 December 2022, the Council of the EU adopted a new, ninth package of sanctions on Russia. The UK has also adopted new financial and trade sanctions on Russia, and Norway has implemented the price cap policy on Russian crude oil. In addition, both the UK and the US have designated additional entities and individuals.

Transaction

2022

Wikborg Rein has assisted the launch of a new gold securities product

We are proud to announce that we have assisted Svelland Capital (UK) Ltd and Edmond de Rothschild Group with the establishment and launch of EdR Certified Origin Physical Gold Public Limited Company, aimed at issuing gold securities.

Transaction

2022

Wikborg Rein assisted on the sale of Kruse Smith Entreprenør AS

Together with Pareto Securities, we are proud to announce that we have assisted Kruse Smith AS with its sale of 100% of the shares in Kruse Smith Entreprenør AS to Backe Entreprenør AS.

International sanctions and export control

2022

European Commission announces ninth package of sanctions on Russia

On 7 December 2022, president of the European Commission Ursula von der Leyen, outlined a proposal for a ninth package of sanctions.

Renewable energy, Sustainability, Offshore Wind

2022

Norwegian Government Launches Tender Rules for Offshore Wind

On 6 December 2022 the Norwegian Ministry of Petroleum and Energy (the "Ministry") announced that it intends to open the offshore wind tenders for phase one of the Sørlige Nordsjø II area and for the Utsira Nord area in the first quarter of 2023, and published the proposed criteria and format for the tenders.

Corporate Social Responsibility

2022

Barnas Havarikommisjon – Our partnership with the Stine Sofie's Foundation

We have partnered with the Stine Sofie's Foundation to establish Barnas Havarikommisjon ("the Children's Accident Investigation Board") in an effort to strengthen the legal security of children and adolescents who are subject to violence and abuse. Due to the poor standard of law, and the commission's goal is to strengthen their legal certainty and provide input on the issues that children and adolescents face.

International sanctions and export control

2022

Agreement on price cap on Russian crude oil

Today, the fifth of December 2022, the G7 price cap policy for Russian crude oil takes effect. The price cap has been set to 60 dollars per barrel.

International sanctions and export control

2022

New EU sanctions regime on Haiti and EU Council adds sanctions violations to list of 'EU crimes'

On 25 November 2022, the EU introduced for the first time a sanction regime on Haiti, aimed in particular at gang leaders and their financiers held responsible for the current security and humanitarian crisis in Haiti. In addition on 28 November 2022, the EU Council adopted a decision to add the violation of restrictive measures to the list of 'EU crimes'.

Transaction

2022

Wikborg Rein assisting Norse Atlantic ASA in a private placement and potential subsequent offering

We have assisted Norse Atlantic ASA, listed on Euronext Growth, in a private placement raising gross proceeds of approx. MNOK 300/MUSD 30. The private placement was fully underwritten and the underwriters will be compensated in new shares (7% equal to MNOK 21). A subsequent EU prospectus based "repair offering", raising additional approx. MNOK 150/MUSD 15, is announced.

International sanctions and export control

2022

New Russia-related sanctions

In light of Russia's escalating war against and illegal annexation of Ukraine, there have recently been developments to the Norway, UK and US sanctions regimes on Russia, as well as further sanctions designations from the EU, since our last update. In addition, G7 members have updated on the upcoming price cap exemption for the maritime transportation of Russian oil and oil products to third countries.

International sanctions and export control

2022

Changes to sanctions regimes on Haiti, Nicaragua and Iran, new export controls on China, and other developments

Below we summarise the developments in EU, UK and US sanctions regimes that are not Russia-related.

Transaction

2022

Wikborg Rein assisting the Norwegian Ministry of Trade, Industry and Fisheries

We are proud to announce that we have assisted the Norwegian Ministry of Trade, Industry and Fisheries ("NMTIF") in a block sale of shares in Aker Solutions ASA ("AKSO"), representing approx. 6.11% of AKSO's outstanding shares and votes.

Data Protection, Employment Law, Technology and digitalisation

2022

New Guidelines and Recommendations on Data Protection at the Workplace

The Norwegian Data Protection Authority (Nw.: Datatilsynet) has recently published both updated guidelines on employees' whistleblowing and an interesting study on monitoring and control of employees' digital activities (both available only in Norwegian). Both these new initiatives relate to data protection at the workplace, and are relevant to all businesses.

International sanctions and export control

2022

EU imposes new round of sanctions on Russia

Earlier today, 6 October 2022, the EU adopted another package of sanctions on Russia, in the wake of escalated Russian aggression against Ukraine, and in particular the in particular the organizing of the "sham referenda" and the illegal annexation of Ukrainian regions of Donetsk, Luhansk, Kherson and Zaporizhzhia.

International sanctions and export control

2022

Developments in Russia-related sanctions

The recent weeks has seen a high level of activity from EU, US and UK sanctioning authorities, in response to escalated Russian aggression against Ukraine. In this WR Sanctions Alert, we briefly summarize some key developments.

Renewable energy, Shipping Offshore, Sustainability

2022

Changes to the Norwegian Offshore Energy Act – one step closer

On 30 September 2022, the offshore energy sector got one step closer to the starting block, as the Government submitted a proposal for changes to the Norwegian Offshore Energy Act to the Norwegian Parliament (the Proposition).

Trade Law

2022

New Norwegian regulation applicable to vehicles

After several postponements, a new regulation applicable to vehicles comes into force on 1 October 2022 (the "Norwegian Car Regulation"). The new regulation implements the EU Regulations (EU) 2018/858 ("Motor Vehicle Regulation") and (EU) 2019/2144 ("General Safety Regulation") into Norwegian law. Among the changes are stricter requirements for approval of vehicles, and updated technical and safety requirements for vehicle type approvals.

Transaction

2022

Wikborg Rein assisting with the purchase of 49% of the Moderne Media group

We are proud to announce that we have assisted Amedia AS with its purchase of 49% of the Moderne Media group.

Sustainability, Renewable energy, Tax Law

2022

Summary of the New US Climate Bill

After months of wrangling and negotiations, US Congress passed the Inflation Reduction Act of 2022 (the "IRA") last month. The bill contains ground-breaking climate change measures and is projected to lead to USD 370 billion in government investment in renewable energy and climate change programs in the next 10 years. These measures are likely to open significant business opportunities for companies operating in the renewable energy sector.

Transaction

2022

Wikborg Rein assisting on private placement in American Shipping Company ASA

Wikborg Rein has assisted DNB Markets, Clarksons Securities and Pareto Securities in connection with a successful private placement in OSE main board listed American Shipping Company.

Transaction

2022

Wikborg Rein assisting in strategic investment in Kahoot!

We are proud to announce that we have assisted global growth equity firm General Atlantic FT BV ("GA") in becoming the largest shareholder in Kahoot! ASA, through its acquisition of SoftBank Group's 15% stake in the company. The acquisition will be completed in two tranches and is expected to be take place in Q4 2022, once applicable regulatory approvals have been obtained.

2022

We have assisted funds advised by Apax Digital with investments in Xeneta AS

Together with Simpson Thacher & Bartlett we are proud to announce that we have assisted funds advised by Apax Digital in the MUSD 80 funding round for Xeneta AS

Ranking

2022

Wikborg Rein are Tier 1 in IFLR1000 once again

We are delighted to announce that we for the fourth year in a row have been awarded Tier1 in all categories in the International Financial Law Review (IFLR1000).

Data Protection, Technology and digitalisation

2022

Credit Information Act: new rules for credit assessments and processing of personal data

This article provides an overview of key issues in the new Credit Information Act which businesses must be aware of to ensure compliance with the new regulations.

Transaction

2022

Wikborg Rein assisting Chess.com in public takeover of Play Magnus

We are together with Paul Weiss assisting Chess.com with a recommended offer to acquire all outstanding shares in Play Magnus AS.

Shipping Offshore, International sanctions and export control, International Arbitration, Litigation and Arbitration

2022

MUR Shipping v RTI: "reasonable endeavours" in the age of sanctions

If a contract requires payment in a certain currency and, as a result of sanctions, payment cannot be made in that currency, does the obligation to use "reasonable endeavours" to overcome a force majeure event (such as payment issues relating to sanctions) require payment in a different currency? The English Commercial Court recently held that it does not.

Financial Regulation, Financing, Capital Markets

2022

Upcoming amendments to the shareholding disclosure obligations in Norway

On 8 April 2022, the Ministry of Finance proposed a long overdue draft bill (Prop. 83 LS) with several amendments to the rules regarding disclosure of large shareholdings (Nw.: flaggeplikt) in the Norwegian Securities Trading Act (STA) and Securities Trading Regulation (STR) to the Norwegian Parliament. The amended rules enter into force on 1 September 2022.

Transaction

2022

Wikborg Rein has assisted the shareholders in Lime Green Digital in connection with a sale of the company to Aeternum

We are proud to announce that we have assisted the shareholders in Lime Green Digital AS in connection with a structured sales process of the company to an entity controlled by Aeternum Capital.

Renewable energy and infrastructure, Sustainability, International sanctions and export control, Compliance and crisis management

2022

This is what we will do at Arendalsuka in 2022

New rules for wind power on land, Russia sanctions, and the consequences of the Transparency Act are items on the agenda when Wikborg Rein invites to three events at the country’s largest meeting point for politics and business life.

Data Protection, Technology and digitalisation

2022

With a passion for data protection and privacy

As the new Director of the Data Protection Authority, Data Protection lawyer Line Coll would like the authority to provide a more practical advice and be perceived as more relevant to the business community. After 25 years as a lawyer, she will soon deal with a completely new part of her career.

2022

Rein Wikborg – Wikborg Rein's energy & sustainability series

Wikborg Rein's Energy & Renewables team is truly engaged in supporting the green shift, where renewable energy and a transition to low carbon solutions will be key elements to succeed. For this purpose, we have set up our own energy & sustainability series – Rein Wikborg* – where we will publish short video lections on legal issues that are important to understand the green shift. We will publish four videos before the summer, with more to follow after the summer holidays. Enjoy!

International sanctions and export control

2022

Norway adopts the EU's sixth sanctions package against Russia

Today, on 17 June 2022, Norway adopted additional Russia related sanctions, by largely implementing sanctions equivalent to the EU's sixth sanctions package (which was adopted by the EU on 3 June 2022).

Transaction

2022

Wikborg Rein assists Siemens in connection with investment in Morrow Batteries AS

We are happy to announce that we have assisted Siemens as one of the lead investors in connection with a EUR 100 million private placement in Morrow Batteries AS.

Shipping Offshore

2022

Wikborg Rein London advise on deal to strengthen Germany's gas security

Acting as counsel to Dynagas, our team in London advised on the charter of two FSRUs which will assist in diversifying and strengthening Germany's security of gas supply .

Student, Ranking

2022

The industry’s most attractive employer

For a ninth consecutive year, Wikborg Rein has been awarded best law firm to work for by Norway's legal students.

Oil and gas

2022

Is there a higher risk of non-approval of PDOs going forward?

The Norwegian state may already today be obliged to refuse approval of new plans for development and operation ("PDO") under Article 112 of the Norwegian Constitution, according to the Norwegian Institute for Human Rights ("NIM"). Although the Ministry of Petroleum and Energy ("MPE") does not agree, it has announced that there will be changes to the PDO guidelines and approval process. In this newsletter, we will comment on these developments.

International sanctions and export control

2022

Further UK and US sanctions against Russia and developments in Russian countermeasures

Since our last update on 11 April 2022, the UK has introduced new sanctions, the US has designated additional individuals end entities, and Russia has announced developments to its counter-measures. Furthermore, the EU and US have introduced certain exemptions to its sanctions regimes relating to humanitarian activities.

Shipping Offshore

2022

SHIPSALE 22—a familiar form in a new guise

On 21 April 2022 BIMCO released SHIPSALE 22, its new standard contract for sale/purchase of vessels.

International sanctions and export control

2022

Additional US, EU and UK sanctions against Russia

In view of the gravity of the Russian aggression against Ukraine, the US, the EU and the UK have adopted additional sanctions against Russia since our previous update on 5 April 2022.

Transaction

2022

Wikborg Rein assists Altor with investment in Vianode AS – Partnership with Elkem and Hydro

Wikborg Rein has assisted Altor Fund V (No 1) AB and Altor Fund V (No 2) AB with the contemplated investment in Vianode AS alongside Elkem and Hydro in a strategic partnership. After the investment, each of Altor and Hydro will have an ownership stake of 30 % and Elkem will own the remaining 40 %.

Shipping Offshore, Ship and rig recycling

2022

“Harrier” – the first beaching case heard by Norwegian courts ends with a six month prison sentence for the shipowner

In a recent decision, the Norwegian Supreme Court refused to hear an appeal from a Norwegian shipowner over the Court of Appeal’s decision, which upheld the District Court’s conviction and sentencing of the shipowner to six months in prison for participating in an attempt to illegally export the barge carrier “Harrier” from Norway for demolition at Gadani, Pakistan.

Transaction

2022

Wikborg Rein assisting Summa Equity

We have assisted Summa Equity Fund III with its investment in TBAuctions, a leading European online auction platform and marketplace for second hand and second chance goods, recently acquired by European private equity firm Castik Capital.

International sanctions and export control

2022

Additional US, EU and UK sanctions against Russia, and new Norwegian sanctions

Since our update on 14 March 2022, the EU, UK and US have announced additional sanctions following Russia's continued military aggression against Ukraine. In addition, Norway has implemented much of the EU sanctions imposed in the recent months.

Ranking, Financing, Capital Markets, Mergers and Acquisitions, Company Law, Dispute Resolution, International

2022

Wikborg Rein top ranked in Chambers Global 2022

We are happy to announce that we have also in 2022 taken another step up in the annual guide Chambers Global, a ranking guide of the world’s leading law firms. As Chambers Global is mainly based on feedback from clients, we would like to take this opportunity also to thank our clients who have helped us reach these goals.

International sanctions and export control

2022

More EU, US and UK sanctions relating to Russia

On 11 March 2022 the EU, US and G7 made a coordinated announcement of additional sanctions against Russia in response to Russia's military aggression against Ukraine.

International sanctions and export control

2022

Further EU, UK and US sanctions relating to Russia and Belarus

Since our previous update on 4 March 2022, the EU, UK and US have announced additional sanctions against Russia and Belarus in response to Russia's military aggression against Ukraine.

International sanctions and export control

2022

Update on Russian countermeasures against so-called "unfriendly states"

In the last week, Russia has announced and implemented several countermeasures against so-called "unfriendly states", i.e. states that recently have imposed sanctions against Russia in response to Russia's military aggression against Ukraine.

Transaction

2022

Wikborg Rein assisting EV Private Equity

We are proud to announce that we have assisted EV Trainor Group HoldCo AS, controlled by EV private Equity, with its acquisition of, and investment in, Noova Holding AS.

Transaction

2022

We have assisted Creadev, SWEN Blue Ocean and Stellar Impact (Telos Impact)

We are proud to announce that we have assisted Creadev, SWEN Blue Ocean and Stellar Impact (Telos Impact) with the private placement of 16 million euros in Noray Seafood AS.

Renewable energy and infrastructure

2022

One step closer to kicking off the offshore wind adventure in Norway

On Wednesday, the Norwegian government presented its plans for realising the first phase of the commercial offshore wind adventure in Norway.

Transaction

2022

Wikborg Rein assisting Gram Car Carriers ASA

Wikborg Rein has assisted Gram Car Carriers in a private placement with a total transaction size of approx. USD 121 million, the transfer of the complete Gram Car Carrier fleet of 16 vessels from a preceding structure in Singapore and related refinancing, and its subsequent admission to trading on Euronext Growth Oslo. We also assisted on the acquisition of two additional vessels from subsidiaries of the reputable shipping company F. Laeisz GmbH for approx. USD 61.6 million, of which approx. USD 49.7 million was settled through shares in the private placement.

Transaction

2022

Wikborg Rein assisting on private placement in Quantafuel

We have assisted Quantafuel ASA on a profiled private placement of new shares.

International sanctions and export control

2022

Potential increase in US and EU sanctions against Russia

As Russia continues its military build-up along the Ukrainian border, both the US and the EU warn of new sanctions that will be used against Russia if it takes aggressive steps. Reportedly, the US and EU are preparing a coordinated response to deter Russian military initiatives towards Ukraine, which they have stated would have "massive consequences" for Russia.

Intellectual Property, Technology and digitalisation

2022

Progress for the realisation of the Unified Patent Court

Recent developments bring the new Unified Patent Court (UPC) closer to reality. This means that companies doing business in the EU should start considering whether they want to engage with the new UPC system or not.

Data Protection, Technology and digitalisation

2022

Transfer of Personal Data and the Use of Google Analytics: Austrian Data Protection Authority's Decision

Austrian Data Protection Authority decided that the use of Google Analytics violates the transfer rules under the GDPR.

Asset Management, Financial Regulation, Mergers and Acquisitions, Company Law, Renewable energy and infrastructure, International sanctions and export control, Intellectual Property, Technology and digitalisation, Capital Markets

2021

New Partners in 2022

We are pleased to announce that Snorre Nordmo, Hedvig Bugge Reiersen, Lars Erik Lien, Charlie Pope and Lars Erik Steinkjer have been appointed partners in Wikborg Rein from 1 January 2022.

Transaction

2021

Wikborg Rein has assisted Danica Pension Livsforsikringsaktieselskab and Danske Bank A/S

Wikborg Rein has assisted Danica Pension Livsforsikringsaktieselskab and Danske Bank A/S with the sale of 100% of the shares in Danica Pensjonsforsikring AS to Storebrand Livsforsikring AS for a purchase price of 2.01 billion NOK.

Compliance and crisis management

2021

Implementation deadline for the EU's Whistleblowing Directive

17 December was the deadline for Member States of the EU to introduce domestic legislation to implement the requirements of the EU's Whistleblowing Directive. The Directive requires a majority of companies in the EU to implement whistleblowing procedures in line with the Directive's at times prescriptive requirements. In this article we assess the impact these requirements are likely to have on companies with offices in one or more EU Member States.

Competition law, State aid and EU/EEA law

2021

Wikborg Rein's competition team ranked "Elite" by Global Competition Review

We are delighted that our competition team has just been ranked as one of the Elite competition law practices in Norway by Global Competition Review in its new GCR 100 rankings for 2022.

Data Protection, Technology and digitalisation

2021

New Draft Decision's Potential Impact on GDPR's Strict Consent Rules

The Irish Data Protection Commissioner's new draft decision has received significant attention. The decision relates to the legal basis of processing under the GDPR and it is criticised by many for giving entities a by-pass from GDPR's strict rules. In this article, Wikborg Rein looks into the draft decision and evaluates what it might mean for the application of the GDPR in the future.

Data Protection, Technology and digitalisation

2021

Facebook to Delete Personal Data of More Than One Billion Users

Last week, Facebook announced their decision to stop using the face recognition technology. Facebook's decision comes against the backdrop of intensifying concerns around data privacy and Facebook's practices, and it is expected to affect more than one billion users. Wikborg Rein reviews the details of Facebook's decision and its potential consequences in this brief article.

Litigation and Arbitration

2021

Under (legitimate) pressure?

Supreme Court clarifies the scope of lawful act duress in Pakistan International Airline Corporation v Times Travel (UK) Ltd [2021] UKSC 40.

Sustainability, Shipping Offshore

2021

Key aspects of FuelEU Maritime proposal

On 14 June 2021 the European Commission presented a package of proposals that are aimed at ensuring that the European Union achieves its goals of cutting greenhouse gas emissions by at least 55% by 2030. The proposals include, among other things, the new FuelEU Maritime initiative and the proposed implementation of the EU Emissions Trading System (the ETS) and the EU Energy Taxation Directive (the ETD) for the shipping sector.

Transaction

2021

Wikborg Rein has assisted Pareto with a new fund

We are proud to announce that we have assisted Pareto Alternative Investments with the establishment of their new real estate fund Pareto Eiendomsfelleskap Invest AS ("PEFI").

Technology and digitalisation, Intellectual Property

2021

New rules on holding back goods infringing intellectual property rights

Rights holders will get new simplified procedures to enforce their rights after changes to the Norwegian Customs Act recently entered into force. It will be easier to detain goods that infringe intellectual property rights.

Transaction, Financial Regulation, Capital Markets

2021

We have assisted Axxelerator Capital AS with its launch and successful fundraising

We are proud to announce that we have assisted Axxelerator Capital AS with its launch and successful fundraising of NOK 1 300 000 000.

Transaction

2021

We have assisted KKR

We are proud to announce that we have assisted Octopus Bidco AS, a company indirectly wholly owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates ("KKR") in the launch of a recommended voluntary cash offer to acquire all outstanding shares of Oslo Stock Exchange-listed ship owning company Ocean Yield ASA ("Ocean Yield").

Data Protection, China, Technology and digitalisation

2021

New Chinese privacy law – PIPL

4 factors you need to be aware of when doing business in China.

Shipping Offshore

2021

High Court provides further guidance on implied terms under English law

In the shipping and offshore industry, guarantees are frequently given as security to legally promise the performance of a separate or primary contract. For example, they are: given by parent companies in support of charterparties entered into by their subsidiaries; an essential documentary component of the shipbuilding process; and often a condition precedent to contracts awarded for the construction of large offshore energy projects.

Financial Regulation

2021

Chapter about Fintech in Norway published in Global Legal Insights

Ole Andenæs, Snorre Nordmo and Stina Tveiten has contributed to the Norwegian chapter in "Global Legal Insights - Fintech 2021", which provides an overview of the latest trends and regulatory framework for fintech in Norway.

Mergers and Acquisitions, Transaction

2021

Wikborg Rein assists with the acquisition of Dokobit Technologies, UAB

We have assisted Nordic Capital and its portfolio company Signicat AS with the purchase of 100 % of the shares in the Lithuanian company Dokobit Technologies, UAB.

Transaction

2021

Wikborg Rein has assisted Medicover

We are proud to announce that we have assisted Medicover with the purchase of 70% of the shares in Klinikk Hausken AS.

Transaction

2021

Wikborg Rein has assisted Volpi Capital LLP

We are pleased to announce what we have assisted Volpi Capital LLP with CLEVR's purchase of shares in Digitread AS.

Shipping Offshore

2021

Always on demand?

In a decision with potentially far reaching implications for the shipbuilding industry and for guarantees generally, the English Court of Appeal on 23 July issued a judgment (Shanghai Shipyard Co. Ltd v Reignwood International Investment (Group) Company Limited [2021] EWCA Civ 1147) addressing what makes a guarantee issued by someone other than a financial institution a "demand" guarantee versus a "see to it" guarantee.

Renewable energy and infrastructure, Sustainability, Environmental law, Ocean Industries

2021

Important clarifications for offshore wind in Norway

On June 8th, the Norwegian Minister for Petroleum and Energy, Tina Bru, announced that the first licenses for development of offshore wind in Norway may be granted in early 2022.

International sanctions and export control

2021

US makes changes to sanctions on Chinese military companies

On 3 June 2021, President Biden issued a new Executive Order, making important changes to the sanctions regime aimed at companies involved with the Chinese military.

Transaction

2021

Wikborg Rein has assisted NRP with Norway's first AIF merger

Litigation and Arbitration

2021

The LMAA Terms 2021: what's new for the end user?

The updated LMAA Terms came into effect on May 1st 2021, and in this article we will describe the key terms and changes.

Transaction, Mergers and Acquisitions

2021

Wikborg Rein has assisted Summa Equity with the acquisition of Holdbart AS

We have assisted Summa Equity with the acquisition of the majority of the shares in Holdbart AS.

Shipping Offshore, Ocean Industries, Sustainability

2021

Green shipping: governmental support scheme for green offshore vessels

In furtherance of its ambition to cutting CO2 emissions from the short sea shipping industry in Norway by 50 % within 2030, the Norwegian government today announced that NOK 150 million has been earmarked for 2021 to support green investments in offshore vessels.

Transaction

2021

Wikborg Rein assists with the sale of Byggesystemer Norge AS

Wikborg Rein is pleased to have acted as legal advisor to the shareholders of Byggesystemer Norge AS in connection with the sale of 100% of the shares in the company to Renta Norway AS.

Transaction

2021

Wikborg Rein assisting on the IPO of Norse Atlantic

We have assisted Arctic Securities, Pareto Securities and SB1M on the private placement of app. NOK 1.3 billion and the subsequent listing of Norse Atlantic ASA on ENX Growth.

Transaction, M&A

2021

Wikborg Rein has assisted EcoOnline Holding AS in its listing on Euronext Growth

We have assisted EcoOnline Holding AS in the listing of the company's shares on Euronext Growth Oslo.

Financing, Ranking, Capital Markets, Mergers and Acquisitions, Dispute Resolution, Litigation and Arbitration, Oil and gas, Intellectual Property, Shipping Offshore, Fisheries and Aquaculture, Financial Regulation, Competition law, M&A, Employment Law, Renewable energy

2021

Chambers Europe 2021

We are pleased to announce that Wikborg Rein is consolidating our strong position in the Chambers Europe 2021 Guide launched today.

Transaction, M&A

2021

We have assisted Norsk Hydro ASA

Wikborg Rein has assisted Norsk Hydro ASA with an agreement to sell its rolled products business for a purchase price of EUR 1,380 million to KPS Capital Partners.

Shipping Offshore, Renewable energy

2021

BIMCO ASVTIME

BIMCO has today expanded their suite of offshore contracts by launching the new standard time charter for accommodation support vessels. Wikborg Rein participated in BIMCO's drafting committee for the form and set out an overview of its key features below.

International sanctions and export control

2021

US launches new sanctions regime in response to Myanmar (Burmese) coup

In response to the 1 February 2021 coup in Myanmar (Burma), President Biden last week issued an Executive Order imposing sanctions on the Myanmar military.

Shipping Offshore, COVID-19

2021

Admiralty Court delivers one of the first judgments relating to COVID-19 and its impact on shipping

The COVID-19 pandemic has had a profound impact on the shipping industry and led to many disputes. However, owing to the prevalence of arbitration in resolving shipping disputes, and the time taken for cases to progress through the courts, there have been few reported cases detailing the pandemic's impact on the industry.

Transaction

2021

Wikborg Rein is assisting Endúr ASA in its acquisition of 100% of the shares of Marcon-Gruppen i Sverige AB

Wikborg Rein is assisting Endúr ASA in its acquisition of 100% of the shares of Marcon-Gruppen i Sverige AB for a purchase price of SEK 400 million.

Transaction, Financial Regulation, Capital Markets, Asset Management

2021

We have assisted Aeternum Management with the establishment of an alternative investment fund

Wikborg Rein has assisted Aeternum Management AS (the AIFM) with the establishment of Aeternum Capital AS (the Fund). The management of the Fund will be led by the recognised Vegard Søraunet as CEO and CIO.

Trade Law

2021

How to handle bilingual contracts?

Companies that operate internationally may often face demands for bilingual contracts in foreign jurisdictions.

Employment Law, COVID-19

2021

The corona pandemic: Labour law issues

Updated 25 January 2021 The corona pandemic has had a major impact on Norwegian working life and has led to a number of temporary rule changes.

Restructuring and Insolvency

2021

Wikborg Rein has successful completed the reconstruction of the company "Inno-Entreprenør AS"

Wikborg Rein represented by Leif Petter Madsen was appointed as reconstructor in the reconstruction of the company "Inno-Entreprenør AS". This is one of the few reconstructions opened in Norway after the Reconstruction Act came into force in May this year, and so far one of only two successful reconstructions.

Transaction

2021

We are assisting Endúr ASA

We are assisting Endúr ASA in its acquisition of 100% of the shares of Artec Aqua AS from Artec Holding AS for an equity value of NOK 690 million.

Capital Markets, Financing

2021

What you need to know about the new UK sanctions regime post-Brexit

As the Brexit transition period has recently come to an end, we highlight below some key differences brought about by the UK's new sanctions regime and what you need to know about the new regime.

Litigation and Arbitration

2020

Remote hearings in Norwegian courts and arbitration – eight months later

Norwegian courts and arbitral tribunals have seen a considerable increase in the number of remote hearings over the last eight months, and the provisional regulations following the outbreak of Covid-19 have now been prolonged. Our new dispute resolution partner Jørgen Vangsnes shares the experience so far.

Shipping Offshore, Maritime and Offshore Emergency Response, Ocean Industries, Environmental Law

2020

Maritime casualties in the High North

As noted in the white paper on Norway's Arctic policy (the High North Report), maritime activities in the High North are expected to increase as a result of improved accessibility resulting from melting sea-ice, the high potential for increased commercial exploitation of marine and offshore resources, and successful marketing of the Arctic as a tourist destination. With increased activities comes an increased risk of accidents.

Shipping Offshore, Environmental law, Sustainability, Ocean Industries

2020

Beefing up emission and fuel standards in the Arctic

It has been a long time coming, and on 20 November 2020 the 75th session of the IMO Marine Environment Protection Committee (MEPC 75) approved a "ban" on the use and carriage of so-called heavy fuel oil ("HFO") in the Arctic. The new regulation makes amendments to the Polar Code, as implemented in MARPOL. It is expected that the proposed amendments will be formally adopted at the next MEPC session in June 2021. However, more stringent standards have already been proposed by the Norwegian government for the area surrounding Svalbard.

Transaction

2020

We have assisted with the sale of TT-Teknikk to Recover Nordic

TT-Teknikk is a leading player in the Norwegian market within control and repair of sewage systems as well as maintenance of ventilation systems and drains.

Capital Markets

2020

Changes to the continuing obligations for listed companies

In conjunction with the Oslo Stock Exchange migrating its trading platform to Optic, new continuing obligations are introduced for issuers on the marketplaces of the Oslo Stock Exchange. The background for the changes is to harmonize and adapt the rules to those that apply to other marketplaces in the Euronext Group.

Business support, Innovation and digitalisation, Sustainability

2020

From the media industry to business law

For someone who loves meeting people, it has been a challenging start in Wikborg Rein for Martin Bentzen. But he plans to make up for it again soon.

Capital Markets

2020

Changes to the Oslo Børs' issuer rules

In conjunction with Oslo Børs migrating its trading platform to Optic, new rules are introduced for issuers on the Oslo Børs marketplaces. The background for the changes is to harmonize and adapt the rules to those that apply to other marketplaces in the Euronext Group.

Litigation and Arbitration

2020

Jørgen Vangsnes: New Partner in Oslo

Earlier this year, Jørgen Vangsnes was appointed as a new partner at Wikborg Rein's office in Oslo. With extensive experience and qualifications within litigation and dispute resolution Jørgen will be a solid addition to the firm's strong litigation team.

Transaction

2020

Wikborg Rein assisted with the acquisition of Burger King Scandinavia

We have acted as Norwegian counsel for Ring Holding in its acquisition of Burger King Scandinavia from Umoe Restaurants. Ring Holding is an Austria-based family office and we have collaborated with Brandl & Talos Rechtsanwälte as Austrian counsel to the buyer.

Transaction

2020

We are assisting Endúr ASA in its acquisition of BMO Entreprenører AS

Endúr ASA has entered into an agreement with Bever Holding AS and certain minority shareholders to acquire 100% of the shares of BMO Entreprenør AS for NOK 448 million.

Sustainability

2020

We are eco-lighthouse certified!

At Wikborg Rein, we have a greater focus on what we as a company can do to take care of the environment. It is therefore exciting to announce that we are now eco-lighthouse certified.

Ranking

2020

Wikborg Rein is awarded Tier 1 in all categories in the IFLR1000

The IFLR1000 is the guide to the world's leading financial and corporate law firms and lawyers and is the only international legal directory dedicated to ranking law firms and lawyers on the basis of financial and corporate transactional work.

Capital Markets

2020

Wikborg Rein assisted on Quantafuel fund raising

Wikborg Rein has assisted Quantafuel ASA (QFUEL-ME) in connection with a private placement of new shares with gross proceeds to the company of NOK 602 million.

China

2020

China opens up further to foreign investments

China has shortened the two “Negative Lists” which enumerate the industries where foreign investment will either be prohibited or restricted. On 23 July 2020 the updated Negative Lists came into effect and replaced their 2019 versions. The update signals further opening-up of the Chinese market to foreign investors. Sectors now further opening up include service sector such as financial services, as wells as manufacturing and agriculture. Whilst sectors that remain unavailable includes oil and gas exploration, pipe network etc.

Student, Sustainability

2020

Pro bono work led to family reunion

Every year the Norwegian immigration authorities process a number of applications that result in rejection or expulsion. When all rights to appeal has been exhausted, few options remain for a party with limited financial resources to have the decision re-examined. Our pro bono work and collaboration with the Norwegian Organisation for Asylum Seekers (NOAS ), an organisation working to advance asylum seekers' rights in Norway, allows Wikborg Rein to assist in the re-examination of cases often involving court proceedings.

Renewable energy and infrastructure

2020

Norway opens offshore areas for wind power development

Friday 12 June 2020 marked an important milestone for Norway as an energy nation, as it was decided by royal decree that two areas offshore Norway shall be opened up for renewable energy production at sea. This means that from 1 January 2021 it will be possible to apply to obtain a license for development and construction of offshore wind power projects in the two areas known as Utsira Nord and Sørlige Nordsjø II outside the Norwegian coast line.

Renewable energy

2020

Wikborg Rein has assisted Hydro Energi Invest AS with the investment in Hydro Volt AS

Wikborg Rein has assisted Hydro Energi Invest AS with the investment in Hydro Volt AS. This collaboration contributes to the sustainable management of car batteries and circular economy. We are therefore very pleased to have assisted Hydro Energi Invest AS with this investment and taking part in this development.

COVID-19, Shipping Offshore, Litigation and Arbitration

2020

The effects of Covid-19 on scheduled court and arbitration hearings in England

The effects of the current outbreak of Covid-19 on ongoing court and arbitration proceedings have been profound ranging from general court closures, adjournment of cases and potential increases to costs (as well as some potential savings) and a corresponding rise in remote hearings. The following article sets out basic guidance regarding the conduct of a remote hearing, addresses frequently asked questions and also reviews the potential costs consequences.

Financing, COVID-19, Financial Regulation

2020

Price in mandatory offer – provisional rules

The Norwegian Ministry of Finance has issued a provisional regulation for the determination of offer price in mandatory offers where the mandatory offer obligation is triggered by an equity contribution to a company in severe financial distress.

Mergers and Acquisitions

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.

Technology and IT Law

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.

Shipping Offshore, China

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.

Employment Law, COVID-19

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.

Employment Law

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.

Oil and gas, COVID-19, Renewable energy and infrastructure

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?

Shipping Offshore, COVID-19

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.

Data Protection, COVID-19, Technology and digitalisation

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?

Employment Law, COVID-19

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.

Shipping Offshore, COVID-19

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.

Mergers and Acquisitions, Tax Law, COVID-19

2020

Governmental support in the coronavirus situation

The following gives an overview over the most relevant temporary measures put in place by the Norwegian government to mitigate the effects of the ongoing Covid19 situation with respect to the Norwegian industry and commerce. This article is last updated 20 March 2020 12:00 (CET). Please note that changes to the below-outlined measures may be made quickly, and that new measures are continuously being evaluated and put into force.

COVID-19, Technology and digitalisation, Data Protection

2020

COVID-19 and Data Protection

The Norwegian and three other European data protection supervisory authorities on employers' collection and disclosure of employee data.

Restructuring and Insolvency

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.

Capital Markets, COVID-19

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.

Technology and IT Law

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.

Trade Law

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.

Shipping Offshore

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.

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.

Shipping Offshore

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.

Capital Markets

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.

Renewable energy and infrastructure

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.

Technology and digitalisation, Intellectual Property

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.

International

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.

Oil Gas and Renewable Energy

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.

Data Protection, Technology and digitalisation

2019

GDPR, information security and the importance of carrying out "proper due diligence"

ICO issues statements of intention to fine British Airways and Marriott.

Shipping Offshore

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.

Shipping Offshore

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.

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.

Shipping Offshore

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.

Data Protection, Technology and digitalisation

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.

Arbitration

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.

Arbitration

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.

Data Protection, Technology and digitalisation

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.

Technology and digitalisation, Data Protection

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).

Financing

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.

Oil Gas and Renewable Energy

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.

Shipping Offshore

2018

Read our Shipping Offshore Update December 2018

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.

Shipping Offshore

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.

Contract and Construction

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.

Data Protection

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.

Compliance

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.

Competition Law

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.

Litigation and arbitration

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".

Compliance

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.

Competition Law

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'.