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Nucleus corporate law developments: rapid legal and regulatory responses to COVID-19 continue; ASX updates temporary COVID-19 class waivers and issues guidance on cancelling dividends; ACCC develops code of conduct for digital platforms and media companies; interim Home Loan Pricing Inquiry report released; and other corporate law developments
Rapid legal and regulatory responses to COVID-19 continue; ASIC shifts regulatory and enforcement focus; ASX updates temporary COVID-19 class waivers and issues guidance on cancelling dividends; FIRB releases new compliance-related guidance notes; ACCC develops code of conduct for digital platforms and media companies and releases interim Home Loan Pricing Inquiry report; and temporary amendments made to Fair Work Act and modern awards. ...
Allens side by side with clients raising more than $4 billion of capital
In the current economic uncertainty, a number of companies have turned to the capital markets to raise fresh equity. Allens has been working side by side with clients to assist them through this ...
Continuous disclosure during COVID-19: shining the spotlight on earnings and debt
In its latest compliance update, ASX reiterated that entities in financial difficulty (including with respect to their debt arrangements) will receive no special treatment. On earnings guidance, it was acknowledged that many listed entities have taken the opportunity to withdraw guidance issued before the outbreak of COVID-19. ASX also strongly encouraged entities to review their published guidance in light of COVID-19 and to either update it if it was not current or withdraw it in this highly uncertain climate. ...
Green finance
Australia's 'green finance' market continues to grow steadily in response to global environmental challenges and to support sustainable development. Innovative financial products continue to be developed to direct capital towards green projects and to promote sustainability causes or ESG-related per ...
Treasurer temporarily amends continuous disclosure laws during COVID-19 crisis
The Treasurer has used his emergency powers under the Corporations Act (the Act) to temporarily modify the operation of Australia's continuous disclosure laws. The Treasurer's release states that the changes are designed to enable listed companies to more confidently provide earnings guidance ...
Allens advises Vicinity Centres on $1.4 billion capital raising
The capital raising comprises a fully underwritten $1.2 billion placement and a securities purchase plan targeting to raise up to $200 million, and the proceeds will be used to reduce debt and ...
More M&A transactions to be captured by new Vietnam merger control regulations
The new Vietnam merger control regime prescribed under the new Law on Competition and Decree 35/2020/ND-CP dated 24 March 2020 will take effect from 15 May 2020. This new regime will have a significant impact on M&A transactions in Vietnam, as it substantially expands the scope of transactions subj ...
Retail banking and responsible lending during COVID-19
The sudden and unknown nature of COVID-19 has triggered a global economic shock, and disrupted Australia's economy. As we enter a national state of economic 'hibernation', banks and lenders are grappling with a sudden influx of relief requests from consumer and business customers. ...
Allens advises bank group on financing for 50% stake in Kalgoorlie Super Pit gold mine
The bank group provided a new $400 million, 4-year term debt facility and renewed an existing revolving facility for three years which increased to $300 million. In addition to the provision of deb ...
ACCC 2020 Enforcement Priorities
A number of industries and issues are in the spotlight following release of the ACCC's 2020 Enforcement and Compliance Priorities by Chairman Rod Sims on 25 February. ...