Binder Groesswang Advises Verbund on Placement of World’s First Syndicated Loan Rated According to Sustainability Criteria

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Binder Groesswang has advised Austrian electricity provider Verbund AG in connection with the world's first Environmental Social Governance-linked syndicated loan, the interest rate of which is not determined by reference to the financial rating but by reference to a sustainability rating established by the ESG rating agency Sustainalytics. Signing and closing of the EUR 500 million loan took place on December 10, 2018.

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The Changing Landscape of International Arbitration in China

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Ever since the Arbitration Law of the People’s Republic of China (the “Chinese Arbitration Law”) was enacted in 1994, the landscape of Chinese commercial arbitration has gone through a profound change. At the end of 2017, there were 251 arbitration institutions in China. With experience gained over the past two decades, some institutions, such as the Beijing Arbitration Commission/ Beijing International Arbitration Center (the “BAC/BIAC”), have won a reputation for high quality within the international arbitration community and have become popular for cross-border dispute resolution among both Chinese and foreign parties. Parties who intend to settle cross-border disputes by arbitration in China are well-advised to learn more about this important option.

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Recognition of Matrimonial Community Debt in the Practice of Equity Investment Under China’s Marriage Law

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Most agreements between investors and the founders of companies or projects contain valuation-adjustment mechanisms or repurchase arrangements to protect investors from the potential failure of the investments or failure of the founders to fulfill their commitments. However, investors may nonetheless fail to get their money back if the founders have few assets, or none. One way to solve this is to go after the founders’ spouses by claiming that the commitments or debts of the founders constitutes matrimonial community debt, requiring reimbursement from the spouses. Matrimonial community debt is set out in the Marriage Law of the People’s Republic of China (“Marriage Law”), and in recent years China\s Supreme People’s Court (SPC) has changed its position on how to recognize matrimonial community debt.

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Considerations in International Technology Licenses for Chinese Lawyers

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With the ongoing commitment to reform and opening to the outside world and the steady implementation of the Belt and Road initiative, the percentage of China’s entire trade regime accounted for by international technology is growing larger and larger. International technology licenses are among the major forms of technology trade between countries. Due to the differences in legal systems, legal regimes, and legal cultures of the various trade participants, lawyers are highly encouraged to pay particular attention to the following issues when drafting and reviewing international technology agreements.

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An Overview of Automated Driving in China

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The future is coming. Soon, people will order a car to send kids to school without the need for a driver. When you get out of a car at the main entrance of a busy shopping mall, it will park itself. Although those scenarios sound too good to be true, the automotive industry is predicting that automated driving will arrive within the next five to ten years.

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