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Month: April 2022

Toda & Nel-lo advises Barcelona’s bid to host the 37th America’s Cup

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A multidisciplinary team of lawyers from Toda & Nel-lo led by Ignacio Toda and Javier Hernández has advised Barcelona’s bid to host the 37th edition of the America’s Cup, made up of different Catalan public administrations (including the Generalitat de Catalunya, the Barcelona City Council, the Port of Barcelona, the Barcelona Provincial Council and the Barcelona Tourism consortium) as well as a large group of private individuals. After a tough battle with three other cities, Malaga, Cork (Ireland) and Jeddah (Saudi Arabia), the current champion of the competition and organiser of the next edition, Emirates Team New Zealand, decided last Tuesday 29th of March that Barcelona will host this global sporting event.

 

The legal team of Toda & Nel-lo has advised the Barcelona bid in its participation in the process organised by Emirates Team New Zealand for the election of the venue, as well as in the legal aspects of the contractual documentation signed with the New Zealand racing team after the election of Barcelona. The work carried out has been quite a challenge due to the size and importance of the public-private collaboration project that has been carried out, given the composition of the candidature, and the tight deadlines that have finally been managed to assemble all the elements of this, in view of the existing deadline for the election of the venue. Barcelona & Partners, an agency belonging to the non-profit organisation Barcelona Global, has also participated in the design of the economic aspects of the candidature and in the negotiation of its terms with Emirates Team New Zealand.

 

The first edition of the America’s Cup dates back to 1851 and is the oldest sporting competition in the world if we consider the Olympic Games only in its modern era, and the third most important sporting event after the Summer Olympics and the Football World Cup. The final race series of the 37th America’s Cup is scheduled to be held in Barcelona in the autumn of 2024 between Emirates Team New Zealand, as Defender, and the Challenger team that wins the series of races between the competing teams challenging for the trophy. This year’s America’s Cup will also feature an all-women’s race for the first time and a major engineering project is planned to provide hydrogen propulsion for the motorized chase boats normally used in the competition

Toda & Nel-lo opens new office in Madrid

Posted on by LNIadmin

Due to its growth in recent years, Toda & Nel-lo has moved its Madrid headquarters to the Salamanca neighbourhood, specifically to Lagasca Street. With this change of location, Toda & Nel-lo continues its commitment to growth, following the road map drawn up when their project began in Madrid in 2018, which has led the firm to cover new areas of specialisation in recent years.

The new headquarters of Toda & Nel-lo in Madrid has 800 m² in an exclusive office building located in what is known as the Golden Mile of the capital.

In less than three years, the firm has increased its staff fivefold and now has a team of more than twenty people (five of whom are partners) providing legal advisory services in public law, commercial law, dispute resolution, tax and regulated sectors.

 

The remedies applicable for non-performance: The current situation of the Belgian and French laws

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Chapter 1. Belgian Law

1. In Belgian law, specific performance is the rule. If a debtor has not performed one of his contractual obligations, he is exposed to the legal sanctions provided for in the Civil Code:

• Specific performance
• Performance by equivalent
• Judicial termination of the contract with the compensation of the damages based on contractual liability

This faculty of the judge can be found in Article 1184 of the Belgian Civil Code. This legislation gives an option to the creditor : either the specific performance, either the performance by equivalent.

2. Those are the powers of the judge when there is no contractual clause in that regard. As the agreement is considered by the parties to be the law, the judge must enforce the binding force of the agreement. This binding force is imposed on each contracting party, both the debtor and the creditor.

3. We will also mention a draft of reform of the Civil Code. The latter aims first of all to get rid of the lacunar character of the current Civil Code by transposing into law the case law in force or by reformulating existing articles in order to clarify their scope.

SECTION 1. What is a breach ?

4. The material breach is not defined in Belgian Law. In order to determine whether the debtor’s conduct or forbearance is faulty, it is first necessary to identify the contractual obligations incumbent upon him. Let’s note that it is a necessary but not sufficient precondition. In other words, the debtor cannot be accused of any fault if he has not breached one of his obligations. Therefore, it is necessary to specify the scope and content of these obligations. They are not all of the same intensity.

Read the full paper:
The remedies applicable for non-performance: The current situation of the Belgian and French laws

 

SNP Schlawien advises seller of an office property in the automotive city of Wolfsburg

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The commercial law firm SNP Schlawien advised the project company Hafenstraße 2 GmbH on the sale of a newly constructed office property in Wolfsburg. The buyer of the property was the investment and asset manager ADVENIS Germany. The parties agreed not to disclose the purchase price.

The office building with adjoining test hall is located in the Hafenstraße/ Westrampe industrial estate in Wolfsburg-Fallersleben, west of the Viehtrift bridge and south of the northern bypass. The total leasable area is around 9,400 square meters and is spread over two buildings. In addition, 179 parking spaces are available on the property. The so-called core-plus property has a very high building quality and is fully leased to two well-known suppliers to the automotive industry, the internationally active engineering service provider iinovis and the Volkswagen Automotive subsidiary Cariad. Advenis Germany acquired the property for the EUROVALYS fund.

Advisors to Projektgesellschaft Hafenstrasse 2 GmbH
SNP Schlawien, Munich: Hannes Dürr (lead) and Julia Bodev (both construction and real estate law, Munich), Dr. Wolfgang Heinze (corporate and contract law, Munich)

Advisors to ADVENIS Germany
HauckSchuchardt

Azevedo Sette helps Mater Dei in multiple hospital acquisitions

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Azevedo Sette Advogados has helped Brazilian healthcare group Mater Dei make five hospital acquisitions, worth a total of 1 billion reais (US$191 million).

The two most recent deals took place in March. Mater Dei called on Azevedo Sette to acquire a majority stake in Hospital e Maternidade Santa Clara in the state of Minas Gerais for 187 million reais (US$36 million).

The seller turned to Souto Correa Advogados for the deal, which was announced on 2 March. The acquisition is still subject to antitrust approval from CADE.

In the same week, Mater Dei hired Azevedo Sette to acquire Centro Tomografia Computadorizada Uberlândia for 75 million reais (US$15 million).

Latin Lawyer understands that Oliveira Marques Benfica Advocacia advised the seller, but this could not be confirmed prior to publication.

That deal closed on 1 March.

Prior to this, Mater Dei acquired a 95% stake in a hospital in the eastern state of Bahia for 206 million reais (US$40 million).

The deal was signed on 11 February and is subject to approval by regulatory agencies.

Latin Lawyer understands that the seller relied on in-house counsel for the deal. The buyer hired Azevedo Sette.

Opened in 1963, Hospital Emec has 126 hospital beds, including 30 intensive care units (ICUs). Mater Dei plans to increase the hospital’s capacity to 150 beds. In 2021, Emec’s revenues reached 131 million reais (US$24 million).

A month earlier, Mater Dei bought a 96% stake in Hospital Premium – Instituto de Cirurgia Plástica e Oftamológica, based in the eastern city of Goiânia, for 239 million reais (US$44 million).

The seller relied on in-house counsel for the acquisition, which closed on 11 January.

The acquired hospital operates 80 beds and 28 ICUs.

Back in November, Azevedo Sette helped Mater Dei purchase a hospital in the eastern Brazilian state Minas Gerais for 309 million reais (US$56 million).

The selling shareholders turned to Romano Donadel Advogados Associados for the acquisition. In the deal, Mater Dei obtained a 94.8% interest of Hospital Santa Genoveva in Uberlândia, Minas Gerais.

Azevedo Sette has advised Mater Dei on transactions previously too. The healthcare group hired the firm back in July to purchase a majority stake in local hospital group Porto Dias for 800 million reais (US$154 million).

For the acquisition of Hospital e Maternidade Santa Clara

Counsel to Rede Mater Dei de Saúde

Azevedo Sette Advogados

Partner Luis Ricardo Miraglia and associates Fernanda Santiago, Deborah Avelar Freitas and Júlia Alves

Counsel to Hospital e Maternidade Santa Clara

Souto Correa Advogados

Partner Mauricio Paschoal and associates Isabelle Bueno, Leila Spagnolo Fonini and Sofia Fleck Ferreira

For the acquisition of Centro Tomografia Computadorizada Uberlândia

Counsel to Rede Mater Dei de Saúde

Azevedo Sette Advogados

Partner Luis Ricardo Miraglia and associates Fernanda Santiago, Júlia Alves, João Vitor Gonçalves Cogiola Falcão and Thales Estevam Ramalho Marques

For the acquisition of Hospital Emec

Counsel to Rede Mater Dei de Saúde

Azevedo Sette Advogados

Partners Luis Ricardo Miraglia and Eduardo Monteiro Moreira César, and associates Fernanda Santiago, Deborah Avelar and João Vitor Falcão

For the acquisition of Hospital Premium – Instituto de Cirurgia Plástica e Oftamológica

Counsel to Rede Mater Dei de Saúde

Azevedo Sette Advogados

Partners Luis Ricardo Miraglia, Eduardo Monteiro Moreira César and Henrique Antonelli, and associates Fernanda Santiago, Júlia Alves, Mariana de Souza Costa

For the acquisition of Hospital Santa Genoveva

Counsel to Rede Mater Dei de Saúde

Azevedo Sette Advogados

Partner Luis Ricardo Miraglia and associates Fernanda Santiago, Júlia Alves, João Vitor Falcão and Thales Estevam Ramalho Marques

Counsel to the selling shareholders

Romano Donadel Advogados Associados

Partners Wanderley Donadel, Rubya Floriani and Daniel Gomide, and associate Fernanda Fernandes

https://latinlawyer.com/azevedo-sette-helps-mater-dei-in-multiple-hospital-acquisitions