BaFin determines that compensation is payable to depositors of insolvent Greensill Bank
As was to be expected, the Bundesanstalt für Finanzdienstleistungsaufischt (BaFin) – Germany’s Federal Financial Supervisory Authority – has determined that compensation is payable to Greensill Bank’s depositors, as the bank is no longer able to repay all of its customers’ deposits. Insolvency proceedings have also been initiated against the bank with the Amtsgericht Bremen, the …
Former Chairman of the Anti-Monopoly Committee of Ukraine joins Redcliffe Partners
Redcliffe Partners is pleased to announce that Yuriy Terentyev, former Chairman of the Anti-Monopoly Committee of Ukraine (AMCU), has joined the firm as a partner. Yuriy brings a wealth of experience to boost the firm’s capabilities in competition, corporate and commercial, government relations and international trade. Prior to being appointed as the AMCU Chairman by …
LG Berlin overturns fine for GDPR violation
In a remarkable ruling from February 18, 2021, the Landgericht (LG) Berlin – the Regional Court of Berlin – declared a million-euro fine imposed in response to a breach of the General Data Protection Regulation (GDPR) invalid.
Bär & Karrer Advises Sage on the Sale of its Swiss Business
The Sage Group, a market-leading provider of business software products and solutions, has entered into an agreement for the sale of its Swiss business to Infoniqa, a provider of HR software solutions majority-owned by Warburg Pincus. The transaction is subject to certain closing conditions and is expected to complete within the next twelve months.
Bär & Karrer Advises Imaweb on its Acquisition of Stieger Software
Imaweb, a developer of software solutions for automotive manufacturers and dealers (a portfolio company of PSG), purchased all shares in Stieger Software AG, a provider of comprehensive software solutions for garages, motorcycle businesses and shipyards.
Bär & Karrer Advises Gi Group on the Acquisition of Jobtome International
Gi Group, Italy’s largest multinational staffing company and one of Europe’s top 6 staffing companies, has completed the acquisition of Jobtome International SA, one of the world’s largest online job aggregators based in Switzerland with a presence in 35 countries.
COVID-19: Provider of business closure insurance to pay out around 760,000 euros for closed bars
In a ruling from February 19, 2021, the Landgericht (LG) Düsseldorf – the Regional Court of Düsseldorf – held that the provider of business closure insurance has to pay out for bars closing in connection with the coronavirus (Az.: 40 O 53/20).
Sayenko Kharenko advised Creatio on USD 68 million investment
Sayenko Kharenko has acted as a legal counsel to Creatio Inc. in connection with USD 68 million minority investment raised to fuel growth of its leading low-code platform for process management and CRM. The capital investment was led by Volition Capital, a US-based growth equity firm investing in high growth companies, with participation from Horizon …
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Sayenko Kharenko advises Getin Holding S.A. on the sale of Idea Bank Belarus to Belarusian MTBank
Sayenko Kharenko has acted as lead legal counsel to Getin Holding S.A., one of the biggest privately owned Polish financial groups headquartered in Wroclaw, in relation to the sale of 99.999 per cent stake in Idea Bank Belarus to MTBank, Belarusian commercial bank, providing a full range of services to corporate and private clients in …