This article analyzes the legal risks and potential consequences of private equity firms collaborating with one another to create consortiums or so-called "clubs" to jointly bid for acquisition of a publicly listed target company. These kind of transactions are more commonly referred to as "club deals" in the mergers and acquisitions world. From 2003 through 2007 club deals became a staple of the leveraged-buyout (LBO) industry. With the rise of clubs, many large-cap companies came within the reach of...

At the beginning of July the Organization for Economic Cooperation and Development (OECD) published its individual country report on Austria (“Economic Survey Austria 2013“) which generally appears every two years.   The report attests that the Austrian economy continues to show remarkable economic performances whereas at the same time a high level of social cooperation remains. This strength is based on three cornerstones: A successful competitive export-oriented economy with companies who have understood how to exploit the advantages of European integration...

On June 26, 2013, New York City joined the growing list of jurisdictions requiring employers to give workers paid sick time. The Earned Sick Time Act - enacted after the City Council's decision to overrule Mayor Bloomberg's veto earlier this month - allows employees to earn a minimum amount of paid sick time from businesses that employ at least 20 employees. After the first 18 months, the act will expand its coverage to employers with 15 or more employees and...

These awards, given by Euromoney Legal Media Group’s, reward law firms fostering the development of women in the legal profession and providing programs that allow professional growth and personal and family life balance. Portolano Cavallo has won in the following categories: >> Best firm in Italy, for the second year in a row >> Best Gender Diversity Initiative by National Firm, European award >> Best National Firm for Talent Management, European award These awards are the result of our beliefs and policies on diversity,...

New instruments of equity investment have been recently introduced by the Italian legislator to stimulate and encourage the growth and development of innovative start ups. Below is a brief overview of these newly-available instruments. Classes of quotas of innovative start ups Unlike joint stock companies, limited liability companies have always been precluded from the opportunity to issue separate classes of quotas. They could only assign special rights to their quotaholders in relation to the management of the company and the distribution of...

EACCNY Member Littler Mendelson is pleased to release the results of its second annual Executive Employer Survey, which can be found here. The survey results provide insight into how current economic conditions and workplace policy changes during President Barack Obama's second term are impacting the perceptions, actions, and priorities of in-house counsel, human resources professionals and C-suite executives with regard to labor and employment issues. We hope you find this report informative, and a special thanks to those who participated. If...

The European Securities and Markets Authority (“ESMA”) issued a final report entitled “Guidelines on Key Concepts of the Alternative Investment Fund Managers Directive (AIFMD)” (the “Report”). Brought to you by EACC member Mason Hayes & Curran The publication of the Report follows the publication of a discussion paper in February 2012 on key concepts of the AIFMD and types of Alternative Investment Fund Managers (“AIFM”) which was then followed by the publication of a consultation paper (the “CP”) issued in December...

Online fashion shopping sprees can result to clothing piling in your drawers that don’t either fit or match together. Does this sound familiar? Stylewhile,  a Finnish fashion startup and EACCNY member, offers a solution to make online shopping easier more succesful by creating a virtual fitting room. Now, the company is in search of business partners to cooperate with in the United States. “Stylewhile enables users to virtually try on clothes they are interested in buying on a model with...