The advent of the Apostille Convention1 (“Convention”) paved the way for a more convenient authentication process in the legalization of documents through the issuance of a certificate called an Apostille. The Convention only applies to public documents. To determine whether a document may be a public document, reference…
The Securities and Exchange Commission has issued on 21 June 2019 SEC Memorandum Circular No. 13 Series of 2019 providing for the guidelines and procedures in the registration of corporate, one person corporate and partnership names. This is in conformity with the release of Republic Act No. 11232,…
On 28 May 2019, the Philippine Competition Commission (“PCC”) penned a resolution expediting the review process for merger transactions that are less likely to substantially prevent, lessen, or restrict competition on their relevant markets. Under Commission Resolution No. 08-2019, the period for the review for qualified merger transactions…
On 25 April 2019, the Securities and Exchange Commission (“SEC”) issued Memorandum Circular No. 7, series of 2019, regarding the “Guidelines on the Establishment of a One Person Corporation (OPC)” (“M.C. No. 7”), which provides guidelines, rules and regulations in the establishment of an OPC. Published on 01…
On 29 October 2018, President Rodrigo R. Duterte signed Executive Order No. 65 which provided the Eleventh Foreign Investment Negative List (“11th FINL”), effectively amending the previous 10th FINL issued by the Aquino Administration in 2015. The 11th FINL made several amendments to List A and List B…
Herbert Smith has advised BG Group on an agreement to sell its 40% equity interest in two gas-fired power generation plants in the Philippines to its partner in the facilities, First Gen Corporation, for net cash proceeds of US$360 million. The sale and purchase agreement, signed and completed…
Sicangco, Herbert Smith, ACCRA Law and Bakers have acted on the sale of BG Group’s indirectly held 40% stake in the Santa Rita and San Lorenzo natural gas-fired power plants in the Philippines to Korea Electric Power Corporation (KEPCO) for a net consideration of US$400m. BG Group, a…
29 September 2010 A joint team from the Singapore and London offices of Herbert Smith LLP has advised longstanding client BG Group on the sale of its indirectly held 40% interests in the Santa Rita and San Lorenzo power stations in the Philippines to Korea Electric Power Corporation…
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