By DS-Concept DS-Concept closed a 250 million HUF credit facility for a Hungarian trading company that sells household appliances and kitchenware domestically to big multinational corporations. Under the arrangement, the company plans to use the provided liquidity to accommodate the 60-90-day payment terms of its buyers and reach its ten-figure annual turnover goal. The client sought out DS-Concept when a former business connection pointed them in their direction. As a new trading company, it was unable to get financing from traditional...

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By Donald C. Dowling | Littler The 2017 tsunami of high-profile sex harassment allegations against politicians, entertainers and news reporters has employers rethinking their approach to eradicating workplace harassment. And this issue is global—the news stories splash across media outlets worldwide and the conversation is everywhere. Overseas, eradicating workplace sex harassment is just as urgent as it is stateside. Anti-harassment laws abroad can be strict. Costa Rica, India, Korea and other countries impose specific rules for sex harassment policies and training. France,...

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The national corporate practice and international practice at Cozen O’Connor represented Eurofins Scientific SE in the acquisition of EAG Laboratories from affiliates of Odyssey Investment Partners. The transaction is valued at $780 million on a cash-free, debt-free basis, and closed on December 1, 2017.   Eurofins Scientific is a world leader in food, environment, and pharmaceuticals products testing and one of the global independent market leaders in testing and laboratory services for agroscience, genomics, and discovery pharmacology, as well as...

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By Jay Novak | Alex Meyerguz | Houlihan Lokey Houlihan Lokey is pleased to announce the sale of Genysis Brand Solutions (Genysis) to Nellson Nutraceutical, LLC (Nellson), a portfolio company of Kohlberg & Company, LLC (Kohlberg). The transaction closed on December 4, 2017. Founded in 2003 and headquartered in Salt Lake City, Utah, Genysis is a premier producer of powdered nutritional supplements in North America. Genysis offers its customers a diverse base of products and is recognized in the industry for exceptional...

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By Mason Hayes & Curran The Global Privacy Enforcement Network (GPEN) has found that organisations should be more open, honest and transparent in their online privacy notices on how they use personal data. According to GPEN, privacy communications and notices should be less vague and more specific in terms of how personal data is used and shared. A review of over 400 websites and apps formed the basis of these results and recommendations. We identify the key insights from the findings. Background GPEN...

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By Richard P. Eckman | Mark T. Dabertin | Scott D. Samlin | Avinoam D. Erdfarb | Pepper Hamilton LLP This client alert has been updated from its original form to address the GAO opinion issued on Dec. 5, 2017. On December 5, the Government Accountability Office (GAO) essentially invalidated the CFPB’s auto lending guidance by finding that it constitutes a “rule” for purposes of the Congressional Review Act (CRA). As a rule, the guidance was required to be submitted to...

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By Trepp LLC The weakness in US equities that began on Monday afternoon spilled over into Tuesday, as all the major US indexes fell yesterday. The Dow slid 109 points (0.45%) on Tuesday, while the S&P 500 lost 0.37% and the Nasdaq slipped 0.19%. Data published yesterday revealed that the US trade deficit spiked in October, while the Institute of Supply Management's index of service providers slipped. Yields on long-dated Treasuries fell slightly, with the yield on the 10-year ending down one...

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On 5 December 2017, the Economic and Financial Affairs Council (ECOFIN) determined a list of 17 non-cooperative jurisdictions, i.e. the EU black list. This list was established based on three (screening) criteria: tax transparency, fair taxation (no harmful tax regimes) and implementation of BEPS minimum standards. The Netherlands, Belgium, Luxembourg and Switzerland are not included in this black list. The ECOFIN recommends that (but does not oblige) the Member States apply tax sanctions towards the listed jurisdictions. The EU may...

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By Tommaso Foco | Ginevra Sforza |Portolano Cavalo Studio Legale Following the approval by the Parliament of Law No. 155/2017 setting forth the principles for a thorough reform of bankruptcy law, the Italian Government is now working on the delegated law that is bound to replace the more than 70-years old Bankruptcy Act (1942). The new law will consolidate in one single act the various changes to the Bankruptcy Act that have been made since 2005 and will provide a...

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