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.
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.
2021
Read our Hydrogen Update November 2021
Renewable energy and infrastructure
2021
Read our Offshore Wind Update November 2021
In this newsletter we focus on the regulatory backdrop which is essential for the deployment of commercial offshore wind projects in Norway, as well as within the EU. We also address practical and legal issues in relation to financing and profitability as well as technology and supply chain development. We have included articles regarding offshore wind development in jurisdictions outside of Norway and the EU as well.
2021
Read our Shipping Offshore Update June 2021
In this Shipping Offshore Update we seek to address the legal developments relating to the shipping and offshore markets
2021
Wikborg Rein assisting Ratos in acquisition of Presis Infra
We are proud to announce that we have assisted Ratos AB in the acquisition of 75% of the shares in Presis Infra AS.
2021
Wikborg Rein has assisted Aeternum with SkiStar acquisition
We are proud to announce that we have assisted Aeternum Management and their fund Aeternum Capital in relation to the purchase of 19.6 % of the shares in SkiStar AB.
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.
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.
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.
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.
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.
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.
China, Mergers and Acquisitions
2021
Wikborg Rein has assisted Chinese M&G Stationery in its acquisition of Norwegian company Beckmann
We are proud to announce that we have assisted Chinese stationery giant and listed company M&G in its acquisition of Beckmann, the Norwegian premium schoolbag brand.
2021
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.
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.
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.
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.
International sanctions and export control
2021
EU imposes sectoral sanctions on Belarus, updates on EU's Myanmar/Burma and Libya regimes
Over the course of an eventful week, the EU, the US, the UK and Canada increased the sanctions pressure on Belarus considerably.
Renewable energy and infrastructure
2021
Game changer for Norwegian offshore wind
The Norwegian Government today published a white paper on energy (Meld. St. 36 Energi til arbeid – langsiktig verdiskaping fra norske energiressurser), comprising several important elements; clarifications for the development of offshore wind in Norway, electrification of Norwegian industries, hydrogen development and a more efficient development and use of the Norwegian power grid, to mention some.
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.
2021
Wikborg Rein has assisted ECIT in its IPO
We have assisted ECIT AS in the listing of the company's shares on Euronext Growth Oslo with first day of trading 20 May.
Renewable energy and infrastructure, Shipping Offshore
2021
Two new partners
We have the pleasure of announcing that Caroline Skaar Landsværk and Eleanor Midwinter have been appointed partners in Wikborg Rein. Caroline fits perfectly into the company's strategy and focus on renewable energy and sustainability in the energy sector and Eleanor's appointment will help maintain and build upon our already significant Shipping, Offshore and Commodities practice.
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, Mergers and Acquisitions
2021
Wikborg Rein has assisted Stadtwerke München GmbH ("SWM") with the acquisition of an ownership interest in Roan wind farm
We have assisted SWM with the acquisition of an ownership interest of 29.4% in Roan wind farm, the second largest wind farm in Norway.
2021
Investment in Kolonial.no / ODA
Wikborg Rein has assisted Prosus NV with the combined investment and acquisition of a minority stake of in Kolonial.no AS, which recently announced its name change to ODA.
International sanctions and export control
2021
UK launches new Global Anti-Corruption sanctions regime
On April 26, 2021, the UK launched a new sanctions regime, aimed at preventing and combatting serious corruption.
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.
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.
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.
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.
2021
UK Supreme Court hands down judgment in its first collision case
The Collision Regulations are the "rules of the road" for mariners navigating vessels worldwide. Historically, English law has played an extensive role in shaping their interpretation and understanding. However, it has been nearly 50 years since a case involving their interpretation has reached the jurisdiction's highest court.
2021
MAR in force in Norway – reminder
The Market Abuse Regulation (Regulation(EU)No 596/2014 MAR) comes into force in Norway from 1 March 2021, and Norway will finally have a regime aligned with EU with respect to insider trading and market abuse.
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.
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.
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.
2021
How to handle bilingual contracts?
Companies that operate internationally may often face demands for bilingual contracts in foreign jurisdictions.
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.
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.
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.
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.
Sustainability, Ocean Industries, Technology and digitalisation, Renewable energy and infrastructure, Shipping Offshore
2020
Partner in the One Ocean Expedition
Wikborg Rein is proud to partner and fully support the United Nations Decade of Ocean Science for Sustainable Development in the project: The One Ocean Expedition.
Shipping Offshore, Litigation and Arbitration, Oil and gas
2020
ICC launches revised Rules for Arbitration: Considerations for commercial parties in the offshore sector
Due to the coronavirus pandemic, conducting arbitration proceedings in 2020 has been challenging for many parties. As a result, several institutions have recognised the need for further developments in procedure and thus this year has resulted in numerous revisions to rules; including the most recent updates of the ICC Arbitration Rules (the "Rules").
Shipping Offshore, Environmental law, Sustainability, Ocean Industries
2020
The High North Report – an "ocean of opportunities"?
On 27 November 2020 the Norwegian government presented a white paper on the High North with the title "People, opportunities and Norwegian interests in the Arctic" (the "High North Report"). The report is the first white paper on the Northern region in nine years, and sets out the government's policy on foreign relations, climate change and environmental concerns, community development, business, infrastructure, transport and safety.
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.
State aid and EU/EEA law, Intellectual Property, Competition law, Procurement, Data Protection, Technology and digitalisation
2020
New Partners
We have the pleasure of announcing that Gry Hvidsten, Hanna Beyer Olaussen and Hanne C. Zimmer are appointed new Partners in Wikborg Rein as of 1 January 2021.
Capital Markets, Fisheries and Aquaculture
2020
Wikborg Rein assisted on The Kingfish Company's Merkur Market listing
Wikborg Rein has assisted The Kingfish Company N.V. (KING-ME) and the joint bookrunners DNB Markets (as sole global coordinator), Arctic Securities, Swedbank Norge and Coöperatieve Rabobank in connection with a private placement and the listing of The Kingfish Company's shares on Merkur Market.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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?
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?
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.
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.
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.
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.
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.
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.
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.
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.
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.
Data Protection, Technology and digitalisation
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.
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).
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.
Data Protection, Technology and digitalisation
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.
2018
Update: New money laundering act and new report from FATF
On Friday 16 February 2018 the Government presented a proposal for a new Anti-Money Laundering Act. The proposal will implement most of the EU Fourth Money Laundering Directive (Directive (EU) 2015/849).