Clifford Chance has previously advised Azelis on multiple financing transactions, including the company’s IPO on Euronext Brussels and the related financing arrangements in 2021 and its €400 million debut bond offering in 2023. The proceeds from this transaction will be used to refinance certain existing debt of the company and support the company’s growth strategy.

Clifford Chance’s cross-border, multidisciplinary team was led by London partner Drew Rundus, senior associate Yash Ranade and associates Garo Yaghsezian and Trey Oxendine with respect to the bond financing. New York finance partner Thomas Critchley and London partner Neil Cavanagh advised on the loan financing with senior associate Rachel Freeman and associates Eugenio Decio and Francesca Spittal. Belgian law advice was provided by Brussels partner Niek De Pauw, counsel Wim Aerts and associate Sonia Belhassen.

Drew Rundus commented: “We were delighted to advise Azelis on another successful financing transaction. This transaction showcases the capabilities of our teams across the globe to work in tandem on a range of financing products.“

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As part of the transaction, iBridge HK Holdings Limited (a wholly-owned subsidiary of Keymed) will take a 30.01% equity interest in Belenos.

Shanghai partner Yang Yi said, “It’s an honour advising Keymed on this strategic transaction which highlights our expertise in innovative, cross-border and IP-driven transactions in the healthcare sector.”

Yi led a cross-border team of lawyers in Düsseldorf, Hong Kong, New York and Washington, D.C. advising on M&A, antitrust, intellectual property and equity investment aspects. The team comprised:

• Beijing: Partner Bai Yong, counsel Dayu Man
• Düsseldorf: Counsel Carolin Kemmner and associate Annabel Joschko;
• Hong Kong: Counsel Yuling Geng, senior associate Michael Yan;
• New York: Partners Andrew Epstein, Jason W. Parsont and Matthew Warner, counsel Daryl Fairbairn and Lauren Rackow and associate Vicki Ye; and
• Washington D.C.: Partners Brian Concklin and Renee Latour and associate Elyssa Wenzel.

New York partner Matthew Warner said, “This transaction reflects the amazing, collaborative teams we have across the globe. It was a pleasure to work with our colleagues in Shanghai, Hong Kong and Germany to provide cohesive healthcare and US investment advice for Keymed on a transaction that will further strengthen its network and the value of its platform.”

The firm has a track record of advising on landmark and innovative transactions in the healthcare and life sciences sector including advising Sciclone Pharmaceuticals on its HK$8.79 billion privatisation by GL Capital, Haier Group on the global regulatory filings for its acquisition of a 20% equity stake in blood products company Shanghai RAAS from Grifols and medical devices company MicroPort Scientific Corporation on its convertible loan facility and credit support.

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Merck’s Surface Solutions business unit offers pigment solutions used in coating, industrial and cosmetic applications and generated sales of €411m in 2023, with Merck generating sales of €21bn in 65 countries in 2023. Merck intends to use the net proceeds from the divestment to further strengthen its strategic core businesses in life science, healthcare and electronics.

GNMI, also known under the brand name Chesir, is a large pigment producer in China. Founded in 2011, GNMI is based in Guangxi, China and is listed on the Hong Kong stock exchange. The company has sites in China and Korea with approximately 800 employees.

Freshfields is advising Merck on all legal aspects of the sale and carve-out, working closely with Merck’s in-house team led by Alexander Krüger (Senior Corporate Counsel), Gabriela Gomes Strieder (Senior Corporate Counsel), Malte Christians (Corporate Counsel), Alexander Werner (Head of Legal – HR, Procurement & Site Management) and Matthias Hart (Head of Legal – Surface Solutions).

The global Freshfields team is being led by Partners Lars Meyer (Corporate/M&A, Frankfurt/Berlin) and Philipp Dohnke (Commercial/M&A, Hamburg) as well as Associates Laura Ashoff (Corporate/M&A, Berlin) and Tainá Moreira de Araújo (Corporate/M&A, Frankfurt), Counsel Marius Scherb (Commercial/M&A, Hamburg) and Senior Associate Elisabeth Wulf (Commercial/M&A, Hamburg) and also included:

• Partners: Rod Carlton (Antitrust, London), Frank Röhling (Antitrust, Berlin), Grace Huang (Corporate/M&A, Hong Kong), Thomas Müller-Bonanni (Employment Law, Düsseldorf), Thomas Granetzny (Employment Law, Düsseldorf), Christian Ruoff (Tax, Hamburg), Tanja Walter-Yadegardjam (Tax, Frankfurt), Michael Ramb (Public Law, Düsseldorf/Berlin), Ulrich Scholz (Energy Law, Düsseldorf), Julia Haas (Real Estate, Frankfurt)
• Counsel: Uwe Salaschek (Foreign Investment, Berlin), Colin Costello (CFIUS, Washington), Sarah Rohmann (Employment Law, Düsseldorf), Sascha Arnold (Regulatory, Hamburg)
• Principal Associates: Stephan Reemts (Corporate/M&A, Frankfurt), Ferdinand Dreher (Corporate/M&A, Berlin), Jill Rollmann (Corporate/M&A, Hamburg), Jan Jeram (Antitrust, Brussels), Marie-Theres Urban (Foreign Investment, Berlin), Andrea Strackerjan (Tax, Hamburg), Christian Schmidt (Tax, Frankfurt), Marlen Vesper-Gräske (Public Law, Hamburg), Sarah Kutsche (Real Estate, Düsseldorf), Hendrik Wessling (Energy Law, Düsseldorf)
• Associates: David Thüning (Corporate/M&A, Berlin), Alicja Klosok (Antitrust, London), Helen Panteli (Antitrust, London), Leonie Sage (Antitrust, London), Fabian Zöpfchen (Labor Law, Frankfurt), Fabienne Gieshoidt (Tax, Hamburg), Marlen Vesper-Gräske (Public Law, Hamburg)
• Transaction Lawyers: Stéphanie Adriaens (Senior Transaction Lawyer, Berlin), Besdegül Ünsal (Senior Transaction Lawyer, Berlin)

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Herbert Smith Freehills (HSF) has advised a group of seven banks – Commonwealth Bank of Australia, DBS Bank, ING Bank, Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation, and Rabobank – on the financing of the Ulinda Park Battery Energy Storage System (BESS) project (the Ulinda Park BESS) which reached financial close last month.

The Ulinda Park BESS, along with the Brendale BESS project (which is part of the same financing) (together, the Projects), will produce more than 700MWh of new energy storage.

Akaysha Energy – a utility scale battery energy storage developer, asset manager and owner operator – developed the Projects. Akaysha Energy’s portfolio includes over 10 BESS under development in the National Electricity Market, with intentions to build, own and operate BESS globally. Akaysha Energy has partnered with Powin (for battery technology supply) and Consolidated Power Projects (for the balance of plant) for the Ulinda Park BESS project.

The HSF team was led by Finance partner, Elizabeth Charlesworth, with cross-practice support from partners Toby Anderson (Projects, Energy & Infrastructure), Julie Jankowski (Real Estate), Peter Davis (Projects, Energy & Infrastructure), Alison Dodd (Projects, Energy & Infrastructure), Kristen Percy (Projects, Energy & Infrastructure), Kathryn Pacey (Environment, Planning & Communities), and Ryan Leslie (Corporate). Senior associates and lawyers assisting on the matter included Arnica Mullins, Nicholas Gerovasilis, Talia Lake, Michael Trent, Saori Nakayama, Hugh Pegler, Jasmine Wood, Jack Fox, Jessie Sun, Blair Feng, Josh Attard and Grace Lee.

Elizabeth Charlesworth commented: “We’re very pleased to have advised the lenders on this Project and to have worked with Akaysha Energy and Ashurst on this unique financing structure. The depth of the HSF’s project finance, property, energy, procurement, connection and tax experience was key to ensuring lenders were supported on all aspect of this financing. This Project reflects Akaysha Energy’s dedication to lead the energy transition and improve grid security by constructing and managing some of the world’s most powerful batteries.”

Ashurst acted as legal adviser, and Azure Capital as financial adviser, to Akaysha Energy. DNV, Aurora, Marsh, KPMG and Mazars also acted as due diligence advisers.

HSF’s cross-practice teams continue to provide market-leading advice to clients in the clean energy sector, having recently advised:

• the lenders on the development and project financing of the 200MW/400MWh Rangebank Battery Energy Storage Systems, located in Cranbourne West, Melbourne, Victoria;
• Edify Energy on the greenfield development, financing and sale to Sosteneo of the 185 MW / 360 MWh Koorangie BESS located in Victoria which achieved completion and financial close in October 2023; and
• Fotowatio Renewable Ventures Australia (FRV Australia) on the project financing of the Walla Walla Solar Farm, located in Walla Walla near Albury, which will be one of the largest solar farms in New South Wales.

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Fund V’s limited partner hard cap was fully allocated at $1.999 billion within eight weeks and reached its final close in five months total. Fund V received commitments from new and returning LPs across leading endowments, foundations, pension plans, insurance companies and family offices. The firm’s meaningful GP commitment underscored the fund’s momentum. Fund V will invest in manufacturing, distribution and business services companies that the firm believes can benefit from its strategic and operational capabilities.

The Ropes & Gray team included asset management partners Amanda Persaud and Jon Rash, and tax partner Sam Duncan.

“We are thrilled to have represented Monomoy Capital Partners on its exceptionally fast-paced closing of MCP Fund V at $2.25 billion,” said Amanda Persaud. “We are grateful to the MCP team for their continued partnership and commitment to collaboration. Ropes & Gray has a leading private fund formation practice, and our asset management practice has more than 300 partners, counsel and associates globally.”

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The Latham team was led from London by corporate partner Farah O’Brien, with associates Alex Watt and Zeynep Kocabas. Advice was provided on executive compensation, employment & benefits matters by partner Sarah Gadd; on tax matters by partner Aoife McCabe, with associate Isabella Wong; and on entertainment, sports, and media matters by partner Patrick Mitchell.

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Not Understanding Your Rights

The average truck accident lawyer has spent several years in law school and even more years working with victims. They know the average accident victim’s rights and even have a rough idea of the compensation they can be owed. 

When you don’t have this same knowledge, it might be much easier for insurance companies to take advantage of you. They might do this by pressuring you into accepting a settlement offer or making claims that aren’t accurate.   

Accepting a Low Settlement Offer

If you’re negotiating with insurance companies yourself, rather than leaving this task to a law firm, accepting a low settlement offer can be a genuine risk. Insurance company representatives might tell you that what they’re offering you is their best and final offer. Scared about missing out, you might accept it with no questions asked. 

However, most truck accident lawyers are familiar with these tactics. They also know how many costs you can incur as an injured victim. They can handle negotiations on your behalf and fight for your right to the compensation you deserve. 

Poor Investigations

Truck accidents aren’t always as they seem. Many factors can be at play, even if an accident scene initially appears straightforward. Failure to identify all these factors might mean a legal case isn’t ruled in your favor. 

That might not be the case if you hired an accident lawyer. They have connections and resources to ensure accidents are investigated thoroughly. This can often put them in an excellent position to find evidence that might have otherwise been missed. 

Case Delays or Dismissal

You don’t have endless time to file a claim and seek justice. All states have various deadlines and specific requirements you must follow. If you’re not familiar with the legal system but choose to navigate it alone, you might be at risk of having your case dismissed or delayed. 

Case dismissal and delays can occur for many reasons, like not filing the necessary information on time or not submitting the required documents at all. These delays might be avoided with adequate legal representation. 

Challenges With Proving Liability

Proving liability is a crucial component of a successful truck accident case outcome. If liability can’t be established, you might not be able to demonstrate the negligence of a driver or trucking company. Often, proving negligence can be challenging without legal help. Lawyers have a great deal of experience in consulting experts, gathering evidence, and building a strong case. 

You are certainly not required to hire a lawyer after being involved in a truck accident. However, that doesn’t mean it’s not in your best interest. Failure to do so might mean you struggle to prove liability, experience a poor investigation, and possibly fail to receive the compensation you deserve.

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Avoid Using Your Kids as Bargaining Chips

The divorce process, while emotionally challenging for you, can be equally or potentially more distressing for your children. They are innocent participants in the divorce and should not be used as bargaining chips to gain the upper hand during the proceedings. 

It’s unwise to speak ill or influence your children’s behavior to inflict punishment on your spouse. Such actions may not only invite disapproval from the judge, but more critically, they could cause lasting harm to your bond with your children.

Speeding Up Your Divorce by Accepting a Settlement Offer

Going through a divorce is rarely a pleasant experience. Tensions and stress levels typically skyrocket. Sometimes, you might want to agree with your spouse’s property-division terms just to cut ties and move forward in life. However, this might not be the most advantageous decision for you.

You might inadvertently agree to settle for less, or commit to pay excessively regarding spousal or child support. You could also risk receiving less than what you are rightfully entitled to in assets. The future tax implications of your choices might not be immediately apparent, but they could have detrimental effects that persist for years. Seeking legal resources is paramount in ensuring that the division of assets and liabilities is done in a manner that is most beneficial to you.

Overlooking Tax Implications 

An agreement resolving a divorce frequently includes splitting of shared property and determining child and alimony payments. In any deal involving the distribution of wealth and possessions, potential tax implications should not be overlooked. 

This is particularly true when the agreement requires the partitioning of retirement or pension schemes. If these considerations are ignored, you could end up with devalued property divisions or burdened with alimony payments.

Getting Remarried Before Resolving Financial Matters

One clear advantage of divorce is the opportunity to wed another person more suited to your preferences. However, avoid rushing into a new marriage as it can further muddle any unresolved issues from your divorce. Jumping into a second marriage before settling your divorce finances can have catastrophic consequences. 

If you enter into another marriage without finalizing a financial agreement, you risk forfeiting your right to apply for one later. This implies that you may be unable to claim any assets you were entitled to from your previous marriage. Consequently, you could end up empty-handed while your former spouse reaps all the benefits. Finalize the financial agreement promptly and ensure asset ownership has been transferred and the funds are in your account before you consider tying the knot again.

Take Charge of the Legal Elements of Your Divorce By Yourself

While it’s possible to self-represent and conduct negotiations with your spouse, this could potentially impact every area of your life. Predicting the long-term effects of divorce settlements is challenging, and the self-devised solutions you establish might lead to financial or other types of damage.

This risk is particularly high if your spouse has legal representation yet insists that you don’t require one, claiming they have no intention to exploit the situation. However, if your former partner is legally represented, have an attorney to advocate for your interests.

Endnote 

Experiencing a divorce is always challenging, but with the avoidance of certain common errors, you can facilitate a smoother process. Familiarize yourself with the procedures involved in a divorce, control your emotional reactions, fully reveal all assets and liabilities, and refrain from hastening towards a settlement. This way, you’ll be more equipped to deal with the difficulties associated with divorce proceedings.

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