Tag: top-large

Construction (Tier 2)

‘Mattias Wittgren has a great understanding of the technical parts of construction projects.’

‘The team is very responsive and has a good understanding of the techno-commercial issues in our ongoing disputes.’

‘Counsel are really committed to the clients and make big efforts to make the clients understand the issues from a Swedish perspective.’

‘The practice has a very wide spread of strength, competence and experience in a way that most firms don’t have. Sometimes when you work with a big firm you may lose contact within the team, but this was not the case here.’

Real Estate (Tier 2)

‘Professional and knowledgeable.’

‘Solid, thorough and swift. They provide reliable consultations with good responsiveness.’

‘Matti Scheffer is experienced and pleasant to deal with.’

‘Very knowledgeable and excellent social competence, meaning they always can handle counterparts of all types (experience as well as attitude).’

Public Procurement (Tier 3)

‘The team, headed by Sylvia Linden, provided a great service.’

‘Sylvia Lindén is very knowledgeable in the field of Public Procurement in Sweden, and is a very nice person to be working with.

Dispute Resolution (Tier 4)

‘They have all the competence they need within the Company and the seniors are among the best in Sweden.’

‘They begin the resolution searching for options for the different sides to easily have an agreement. They are not interested in a big fight, they want their client to have an agreement with good terms of course, but in that process they are able to see the opponent’s point of view and how to get their client to get a good solution to the dispute.’

‘Nicklas Björklund is among the best lawyers in Sweden and his team is considered a winning team, which is a very good thing if you are in a dispute.’

Read more about Kilpatrick Townsend in Legal 500 here

Prominent Additions to Private Equity, Middle Market, Financial Services, and Litigation Practices

ATLANTA/CHICAGO (March 7) – Kilpatrick Townsend & Stockton announced today that it is opening offices in Chicago and Phoenix effective March 1, 2023. A total of 28 legal professionals, including 14 attorneys, will be joining the firm.

The team of attorneys, comprised of three partners, two counsel, five associates, and four litigation of counsel, are bringing well-recognized practices to Kilpatrick Townsend from the highly regarded Chicago-based L&G Law Group LLP which served clients for nearly three decades. Another leading partner is joining Kilpatrick Townsend from Chicago-based Walker Morton. Together, these attorneys have represented leading entities and individuals in the areas of corporate, private equity, middle market, financial services, complex commercial litigation, and labor & employment.

“We are excited to open in Chicago, one of the nation’s key financial centers and home to numerous Fortune 500 companies, as well as a strong private equity and venture capital hub,” said Henry Walker, Kilpatrick Townsend Chair. “This is a talented, well-connected group of lawyers and we are pleased they chose to join our firm. In addition, we already represent a number of clients in Chicago and throughout the Midwest and this physical presence will help expand that representation. Fast-growing Phoenix offers an excellent opportunity to build on substantial client work there and enhance our firm’s already high-profile in the western U.S.”

Kilpatrick Townsend now has offices in the eight of the 10 largest metro areas in the U.S. Overall, the firm has 18 U.S. offices and 22 offices worldwide.

“Kilpatrick Townsend is one of the nation’s preeminent law firms and its much larger platform will help expand existing client relationships and build new ones,” said Jerry Haberkorn, Kilpatrick Townsend Chicago Office Managing Partner. “Over the years, we have known many of the firm’s attorneys and seen their successes in the areas of corporate, litigation, and intellectual property. We are excited to be in a firm with this additional expertise to better serve our clients. Another appeal is the firm’s collaborative and client-focused culture.”

Kilpatrick Townsend will assume the previous L&G office spaces in Chicago and Phoenix.

For more information about Kilpatrick Townsend, please visit www.kilpatricktownsend.com.

Lycksele Airport is owned by Lycksele Municipality. In November 2013, the municipality applied for a property regulation to form an easement in order to ensure safe visibility and flight conditions around the airport. The easement is for an encumbrance on nearly 100 properties. The Cadastral Authority separated two properties from the administrative process and, in December 2015, granted the easement concerning the remaining properties. The decision was appealed to the Land and Environment Court in Umeå by few property owners. The Land and Environment Court’s decision essentially supported the Cadastral Authority’s decision (the Land and Environment Court in Umeå’s decision in case F 218-16, December 6, 2018).

In July 2019, the Cadastral Authority decided on the issue of easement regarding the two separated  properties. Easement in accordance with the application was granted, but the municipality was ordered to pay SEK 24,850,000 in compensation to the owner of the two separated properties. The municipality appealed the compensation decision and demanded that the amount be reduced to SEK 800,000. The owner of the separated properties also appealed the decision and demanded that the administrative decision be revoked, and the procedure be canceled.

The Land and Environment Court amended the appealed compensation decision in accordance with the municipality’s claim and reduced the amount to be paid from SEK 24,850,000 to SEK 800,000 (the Land and Environment Court in Umeå’s decision in case F 2131-19, March 2, 2022).

Hanna Sundberg (Partner) and Johan Wedsberg (Senior Associate) at Kilpatrick Townsend represented Lycksele Municipality in both proceedings in the Land and Environment Court.

Changed record date

The rules in the Swedish Company Law governing the record date for attending general shareholder meetings are changed so that that the record date takes place six banking days, instead of five weekdays, before the general meeting. Also, the rules are changed so that nominees may continue the voting rights registration for an additional two banking days after the record date, i.e. to the fourth banking day before the general meeting.

The new procedure entails that companies will have access to the share register for the general meeting three banking days before the general meeting, instead of four weekdays before the general meeting.

The current rules regarding notification to attend a general meeting remain the same. Consequently, the earliest day which a shareholder may be required to notify regarding his or her attendance is still five weekdays before the general meeting. In this respect, companies and shareholders should to note that Saturdays are considered weekdays pursuant to law unless it is a public holiday.

The new rules  go into effect on 3 September 2020 and apply to all Central Securities Depository (CSD) companies (regardless if the company is a public company or not). For other companies, i.e. companies where the board keeps the share register, the relevant share register is still the register on the day of the general meeting.

New rules regarding information between company and share holders

Certain requirements are introduced to assist  companies listed on regulated markets in identifying the company’s shareholders and to help shareholders exercise their rights with the company. The new obligations cover both listed companies and nominees and other so called intermediaries. The rationale behind these changes is that shares in listed companies are often owned via complex chains of nominees, which make it difficult for the companies to communicate with their shareholders. Complex owner chains also make it difficult for shareholders to vote at general meetings and to exercise other rights. The new set of rules aim to improve the transfer of information through the chain of intermediaries.

Companies have to confirm electronic voting

Shareholders who participate electronically at a general meeting are given the ability to monitor the voting procedure. A new rule is introduced stipulating that the company has to confirm a received shareholder vote. After a general meeting the company must, at the request of a shareholder, confirm that the shareholder’s vote has been registered and been accounted for. If no formal voting occurred, the company has to confirm that the shareholder was entered into the voting list.

Simplified rules regarding registration of new share issues – bank certificate instead of auditor’s statements

In line with the Swedish Companies Registration Office’s standards, a new rule is introduced stipulating that also public companies may use a bank certificate instead of an auditor’s statement when registering new share issues.

An exception in the Leo-rules for minor management buy-outs

The so called Leo-rules apply to all public companies and imply that certain share issues and transactions between the company and certain persons closely associated with the company have to be resolved by or be approved by nine-tenth’s majority of a general meeting . In these cases it is not sufficient with a board decision. To facilitate minor restructurings, a new threshold is introduced. The threshold implies that transactions with a market value of less than one percent of the corporate group’s market value are exempt from the shareholder approval requirement.

Possibility to correct errors in annual reports

Changes in the Swedish Annual Accounts Act are introduced to allow companies the possibility to correct minor errors in the annual report before the company is subject to penalties by the Swedish Companies Registration Office.

Entering into force

The new rules enter into force on 3 September 2020.

_______________________________________

Directive (EU) 2017/828

Commission Implementing Regulation (EU) 2018/1212 of 3 September 2018 laying down minimum requirements implementing the provisions of Directive 2007/36/EC of the European Parliament and of the Council as regards shareholder identification, the transmission of information and the facilitation of the exercise of shareholders right.