Vinge advises Access Industries in connection with the management buy-out of Energibolaget i Sverige AB
August 22, 2007
Vinge represented the American industrial group Access Industries in connection with the sale of 70 per cent of the shares in Energibolaget i Sverige AB in a management buy-out.
Access Industries was represented by Henrik Wenckert and Martin Hall
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.
The European Commission has proposed a new regulation that will provide it with tools to counteract economic coercion from third countries with measures such as tariffs and imports restrictions.
