- Carey y Cía. named as Best Law Firm in Chile 2011 by LatinFinance
Announcement by Jaime Carey
LatinFinance, a North American publication specialized in banking and capital markets in Latin America and the Caribbean, has recognized Carey y Cía. as the Best Law Firm in Chile 2011, also rewarding the best law firms in Mexico, Brazil and overall Latin America. The award recognizes the outstanding performance of Carey y Cía. during 2011.
- Carey y Cía. advised ING Group in the sale of the Chilean part to Grupo Sura
Announcement by Jaime Carey
Carey y Cía. acted as counsel to ING Group, in connection with the Chilean part of the US$3.8 billion sale of ING’s assets in LatAm to Colombian financial holding company Grupo de Inversiones Suramericana (Grupo Sura). The deal included ING's pension, insurance and investment management assets in Colombia, Mexico, Chile, Uruguay, and Peru.
Carey y Cía. has advised ING through a team led by partners Diego Peralta, Jessica Power and Felipe Moro, director Paulina Miranda, and associates Felipe Tupper and Vesna Camelio.
- 1 foreign companies have helped Iran develop its oil and gas sector...
Entry by INBLF Admin
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"Over the last five years, 41 foreign companies have helped Iran develop its oil and gas sector, which accounts for over half of the Iranian government’s revenues, congressional investigators reported on Thursday."
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NY Times Article - SINGAPORE BUDGET 2010 - SUPPORTING BUSINESS RESTRUCTURING THROUGH M&A ALLOWANCES AND STAMP DUTY...
Entry by Lydia Ng
The latest Budget 2010 unveiled by the Ministry of Finance has introduced initiatives to support business restructuring to achieve higher productivity towards higher-value and more innovative players. The Government is encouraging continuous flow of start-ups and new entrants into the economy. The Government is facilitating mergers and acquisitions by introducing, for five years, a one-off tax allowance scheme to help defray a portion of acquisition costs.
The allowance will be equal to 5% of the value of the acquisition. The acquisition of a $50 million company, for example, will give the acquiring company a tax allowance of $2.5 million. The acquiring company will be able to deduct $2.5 million against its taxable income over 5 years, resulting in total tax savings of $425,000. There will be a cap of $5 million in a single Year of Assessment.
The new allowance will help the acquiring company offset part of its costs, but without seeking to distinguish between interest costs and other costs. It is therefore neutral between debt and equity in financing transactions.
Stamp duty on the transfer of unlisted shares for M&A transactions valued up to $100 million in any year will be waived. This one-off concession will also be available for five years.
- Larry Friedman Quoted on Trade Deal with Korea
Thread by Lawrence Friedman
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I was recently interviewed by a reporter for Crain's Chicago Business and its online site. The topic was the impact of the U.S.-Korea Free Trade Agreement on American manufacturers, particulartly those around Chicago. The resulting video is at the link below.
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Crain's - Stamford Law advises Abercrombie & Fitch in a dispute with a Singapore watchdog
Thread by Hazel Ratcliffe
We represent Abercrombie & Fitch, an American casual luxury retail brand in a dispute with a Singapore watchdog over the appropriateness of an image used as part of its marketing campaign in Singapore. Our scope of work includes advising the client on matters relating to compliance with Singapore laws on advertising and decency and on public relations, and assisting the client in engaging with the said watchdog and other relevant entities.
