Until July 2008, there was no national legislation that governed public utilities projects and more specifically, wastewater treatment projects, financed under the BOT model. In July 2008, the Shenzhen Municipal Government promulgated and implemented China's first set of local rules for build-operate-transfer ("BOT") wastewater treatment projects, the Shenzhen Municipal Administrative Rules for BOT Wastewater Treatment Projects 《深圳市污水处理厂BOT项目管理办法》("Administrative Rules"). In light of the developments since the enactment of the Administrative Rules, the following seeks to provide an outline of the local framework governing BOT wastewater treatment projects in Shenzhen and the impact on the future development of BOT public utilities projects.
Dealing with a settlement in a multi-party dispute can be complicated. The recent case, Siemens Buildings Technologies FE Ltd v Supershield provides a useful summary of the law relating to the recovery of monies from a third party when the defendant has settled with the original claimant(s). As a matter of causation and remoteness, the losing party may recover from the third party the money paid in the settlement if it can establish that: 1) the settlement was reasonable; and 2) the amount paid in settlement was reasonable. Typical considerations relevant to reasonableness include the strength of the claim, whether the settlement was a result of legal advice, the extent of the uncertainty / expenses of litigation, and other benefits of settling the case rather than continuing litigation.
9 October 2009 – The 2010 edition of IFLR1000, a guide to the world’s leading financial law firms, ranked Mayer Brown in 15 practice categories. Four practices were given top-tier rankings: Hong Kong Restructuring & Insolvency; Thailand Restructuring & Insolvency; United States Capital Markets – Structured Finance & Securitization; and Vietnam Banking & Finance. In addition, 26 partners were ranked as leading lawyers. IFLR1000 rankings are based on extensive independent research, and provides analysis of the best financial law firms operating in more than 100 markets worldwide.
Mabey & Johnson Ltd, a British company which manufactures bridge equipment, pleaded guilty at Southwark Crown Court to a series of corruption offences committed overseas and is to pay a total of £6.55m in connection with these offences. On Friday 25 September 2009 the company was ordered by the court to pay £4.6m in fines and disgorgement of profits. In addition, the company has undertaken to pay reparations to the affected countries.
22 September 2009 – Mayer Brown, a leading global law firm, announced today that the 2010 edition of Chambers Latin America ranks the firm in four Latin America-wide practice categories: Banking & Finance, Capital Markets, Corporate/M&A and Projects. Mayer Brown also is ranked in Brazil in the Banking & Finance: Locally Based International Counsel category.
On 22 September 2009, the Office of Fair Trading ("OFT") issued a decision finding that 103 construction firms had infringed competition law by engaging in bid-rigging in England in the period from 2000 to 2006. Individual fines ranged from £713 to £17.9 million and totalled £129.5 million.
1 September 2009 - Mayer Brown, a leading global law firm, announced today that George K. Miller has joined the New York office as a partner in the Global Projects and Infrastructure Groups. Mr. Miller joins Mayer Brown from another major international law firm where he had concentrated in international and domestic finance and leasing, in particular in the infrastructure, transportation and energy sectors.
Mayer Brown LLP hired partner George Miller as part of the firm’s New York expansion. His practice focuses on project finance and infrastructure. The following news stories covered his joining the firm
In the second edition of our Global Projects & Infrastructure update, we review some of the recent changes
within the firm. Despite the current marketplace, we’re happy to announce the addition of three new partners
to our Global Projects practice. Additionally, our business continues to grow with a broad range of new
assignments across the globe.
4 August 2009 – Mayer Brown, a leading global law firm, announced today that 178 of its lawyers are listed in the 2010 edition of “Best Lawyers in America.”
On July 31, 2009, the US Treasury Department (Treasury) announced that it is now accepting applications for grants in lieu of tax credits (Grants) under section 1603 of the American Recovery and Reinvestment Act of 2009. Section 1603 established a program whereby an eligible person could, in lieu of claiming the production tax credit under Internal Revenue Code Section 45 or the investment tax credit under Internal Revenue Code Section 48, apply to Treasury for a Grant with respect to certain renewable energy property to provide a reimbursement for a portion of the costs of such property.
Although the emerging markets have shared in the pain of the global slowdown,well-structured deals continue to close.
In this review, we highlight some of our more notable work during the last 12 months.
12 June 2009 - Mayer Brown LLP, a leading global law firm, announced today that 124 of its attorneys are ranked in the 2009 edition of Chambers USA: America’s Leading Lawyers for Business, including 32 who achieved top-band ranking or higher in 26 national and/or state categories.
On June 5, 2009, the Internal Revenue Service issued Notice 2009-52, which describes the much anticipated procedures for electing to claim the investment tax credit (ITC) under Section 48 in lieu of the production tax credit (PTC) under Section 45 with respect to certain renewable energy facilities (the ITC Election). The flexibility to make the ITC Election was provided in the American Recovery and Reinvestment Act of 2009 (the Recovery Act) that was enacted on February 17, 2009.
June 4, 2009 - Mayer Brown LLP, a leading global law firm, announced today that the 2009 edition of Legal 500 United States ranks the firm’s practices in 24 categories, including top-tier rankings in five categories.
Mayer Brown is a global legal services organization comprising legal
practices that are separate entities (the "Mayer Brown Practices"). The
Mayer Brown Practices are: Mayer Brown LLP, a limited liability
partnership established in the United States; Mayer Brown International
LLP, a limited liability partnership incorporated in England and Wales;
and JSM, a Hong Kong partnership, and its associated entities in Asia. The
Mayer Brown Practices are known as Mayer Brown JSM in Asia. "Mayer Brown"
and the "Mayer Brown" logo are the trademarks of the individual Mayer
Brown Practices in their respective jurisdictions.
