Vinge advises Aberdeen Standard Investments in connection with a co-investment in Trustly.
June 24, 2020
Vinge has acted for Aberdeen Standard Investments in a co-investment into Trustly, a Swedish-based fintech company, providing systems to enable consumers to pay businesses safely online via their bank account.
The co-investment is made together with other institutional investors.
On Tuesday 21 December, the EU Court of Justice delivered its long-awaited judgment in the Bank Melli Iran case (Case C-124/20) on the interpretation of the EU Blocking Statute regarding compliance with third country sanctions. According to the Court, the prohibition imposed by EU law on complying with secondary sanctions laid down by the United States against Iran may be relied on in civil proceedings. Following the Court’s judgment, anyone seeking to terminate a contract with a person or business subject to US sanctions must thoroughly consider if the termination is motivated by other reasons than the existing sanctions and reflect on whether to apply to the Commission for a derogation from the Blocking Statute.