In the latest instalment in the ongoing litigation between Herald and Primeo,[1] the Grand Court of the Cayman Islands has considered how liquidators of a Cayman fund may adjust the fund’s historic NAVs (and thereby alter the respective amounts to be distributed to the fund’s shareholders) in circumstances where those NAVs were misstated due to fraud or default and where calcu

2017 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity Funds and

Other Private Funds

2017 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity

Funds and Other Private Funds

The following annual review and outlook (Annual Review) is a summary of some of the significant changes and developments that occurred in the past year and certain recommended practices that investment advisers to hedge funds, private equity funds and other private funds (collectively, private funds) should consider when preparing for 2018.

In recent years, with the large increase in the number of enterprise bankruptcy cases, the instances of the legal representative or directors, supervisors and/or senior executives of a bankrupt enterprise (collectively, “senior officers”) being sued by the administrator or creditors have become common. In light of such laws as the Company Law, the Enterprise Bankruptcy Law, etc., and typical cases in judicial practice, such senior officers chiefly face the following risks:

美国是世界上最容易开展业务的司法管辖区之一1。监管壁垒总体较低，建立分支机构或业务实体方 便快捷，相比其他多数发达经济体，劳动就业法律对雇主更为友好，并且法律体系发达、透明。然 而，在美国进行投资或设立业务之前，仍有若干准入壁垒及营商挑战需要考虑。 本刊将简要介绍可能限制非美国人进入美国市场或在美国设立业务后开展业务能力的贸易管制问题， 以及对外国投资者而言极其重要的公司、商事、劳动就业、移民、知识产权、反洗钱、反垄断、出 口管制、反腐败、责任、破产等法律及实践。本刊并非综合性指南，仅对投资者需要考虑及与法律 顾问商讨的一些重要问题加以概述。 

February 2017 N° 19 Fondo Atlante and the future for the financial institutions Tommaso dalla Massara Some news on insolvency procedures Fabio Marelli EU Commission first draft of ePrivacy Regulation Rocco Panetta Insurance Distribution Directive Guido Foglia ACROSS THE EUNIVERSE 2 In this Issue Editorial Giovanni Moschetta, Bernard O'Connor 3 What's App in Europe 4 Bernard O'Connor The next big thing for European data protection: EU Commission publishes first draft of ePrivacy Regulation to be discussed during GDPR transition period 6 Rocco Panetta, Francesco Armaroli Critical features of

An insolvency administrator has been sentenced to 11 years of imprisonment for obtaining RMB1.3 million in bribes. Huang Zhicong (“Huang”), former vice-president of Building Materials Corporation in Shaoguan City of Guangdong Province, was the insolvency administrator of Shaoguan New Sunlight Textile Enterprise Co., Ltd. (“New Sunlight”).

schönherr journal www.schoenherr.eu 02/2017 S  cílem harmonizovat a  posílit ochranu proti odcizení obchodního tajemství na úrovni EU byla minulý rok přijata Směrnice Evropského parlamentu a  Rady (EU) 2016/943 ze dne 8. června 2016 o  ochraně nezveřejněného know-how a  obchodních informací (obchodního tajemství) před jejich neoprávněným získáním, využitím a zpřístupněním (dále jen „Směrnice“). V návaznosti na zavádění Směrnice do českého právního řádu dozná určitých změn dosud platná právní ochrana obchodního tajemství.

Following huge trading losses and the discovery of alleged fraud in a Singaporean subsidiary, O.W. Bunker & Trading A.S. filed for bankruptcy on 7 November 2014in the Danish court, just seven months after the company floated on the stock market.  Since then, a number of other O.W. Bunker Danish and overseas entities have also filed for bankruptcy.

On February 4, 2016 the Legislative Assembly approved a Special Law against Computer and Related Crimes, which purpose is to protect legal property against criminal behaviors committed through information and communication technologies, and to prevent and punish the crimes committed against stored, processed or transferred data; systems, infrastructure or any of its components, and crimes committed by the use of these technologies that affect interests of identity, propriety, privacy and the image of natural or legal persons in the terms provided by law.

As a consequence of a recent amendment to the German insurance regulatory law, which entered into effect on 2 January 2014, infringements of certain compliance provisions applicable to insurance companies in Germany can constitute a criminal offence.