r1//./r2Capital Market06Dispute Resolution11Fintech20International Trade/ WTO27Ministry of Corporate Affairs (MCA)34Restructuring and Insolvency45Sports and Gaming49White Collar Crime03Competition Law08Employment Law15Infrastructure and Energy24Media and entertainment31RBI & FEMA40RERA47Technology51r3MASTER CIRCULAR FOR ISSUE OF CAPITAL ANDDISCLOSURE REQUIREMENTSThe Securities and Exchange Board of India (“SEBI”) hasissued an updated Master Circular1for Issue of Capital andDisclosure Requirements (“SEBI ICDR Master Circular”),consolidating all extant circulars and directions issued unde
As China’s policy of opening up continues to advance into a new stage, an increasingly open, inclusive, and evolving investment environment has attracted a growing number of foreign enterprises to invest in the Chinese market. Many of these enterprises have formed strategic partnerships with Chinese companies, pursuing joint development and global expansion. Among the various entry mechanisms for foreign investors, the Joint Venture model remains one of the most significant forms of foreign investment in China.
r 1 //./ r 2 Capital Market 06 Dispute Resolution 11 Fintech 19 International Trade/ WTO 26 Ministry of Corporate Affairs (MCA) 31 Restructuring and Insolvency 43 Sports and Gaming 51 White Collar Crime 03 Competition Law 09 Employment Law 17 Infrastructure and Energy 24 Media and entertainment 30 RBI & FEMA 41 RERA 48 Technology 55 r 3 SEBI CONSULTATION PAPER ON THE CONSOLIDATION OF FPI/DDP MASTER CIRCULAR (5 DECEMBER 2025) On 5 December 2025, SEBI released a consultation paper proposing a comprehensive consolidation and modernisation of the Master Circular governing Foreign Po
Introduction
As 2025 draws to a close, this newsletter reviews key developments that have shaped the commercial disputes landscape over the past year and offers our views on significant English court decisions. We then look ahead to the trends likely to define 2026. We also reflect on another productive and successful year for Hausfeld’s Commercial Disputes team.
HOW DID 2025 CHANGE THE LEGAL LANDSCAPE?
Financial services
On 3 December 2025, the Official Gazette published Law no. 202/2025 that amends and supplements Law no. 213/2015 on the Insureds Guarantee Fund (FGA) and Law no. 85/2014 on insolvency prevention and insolvency proceedings.
These amendments significantly recalibrate the institutional design, financing toolkit, and cross-border coordination of Romania’s insurance guarantee scheme, with particular emphasis on the handling of motor third party liability (MTPL) insurance claims and alignment with the EU framework introduced by Directive 2021/2118.
The Insolvency Service has for many decades been the Government department responsible for the oversight of bankruptcies, compulsory insolvencies and, in more serious cases, the disqualification of individual directors.