March 06, 2020

Proposed Rules for CFIUS Filing Fee by the Department of the Treasury

美国财政部发布CFIUS申报费用拟议规则

Following two amendments to the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) published on January 17, 2020, the Department of the Treasury released a proposed rule that would establish a filing fee for parties engaged in covered transactions under the Committee on Foreign Investment in the United States (CFIUS or the Committee).

 

The Department of the Treasury makes it a direct and easy way to calculate the filing fees, which is determined by the transaction’s value. Worrying about discouraging filing and negative impacts on small businesses, the Treasury Department sets the filing fee no more than 0.15% of the overall transaction value.

 

For transactions with values less than $500,000, there are no filing fees. For transactions with values equal to or exceeding $500,000, the filing fee is based on a tiered approach:

  • Where the value of transaction is equal to or greater than $500,000 but less than $5,000,000: $750;

  •  Where the value of transaction is equal to or greater than $5,000,000 but less than $50,000,000: $7,500;

  • Where the value of transaction is equal to or greater than $50,000,000 but less than $250,000,000: $75,000;

  • Where the value of transaction is equal to or greater than $250,00,000 but less than $750,000,000: $150,000;

  • Where the value of the transaction is equal to or greater than $750,000,000: $300,000.

 

The proposed regulation released by the Department of the Treasury, authorized by FIRRMA, finally terminates the era of free view—CFIUS reviewed transactions without any fee for the last 30 years. Although the Department of the Treasury believes that the coming filing fee is too little (no more than 0.15% of values of transactions) to discourage filing and to affect small business, foreign persons engaged in “covered transaction” or “covered real estate transaction” must pay extra expenses to the U.S. federal government. Under the proposed rule, only submitting voluntary written notice to the Committee is subject to the filing fee, filing declarations and unilateral review of a transaction based on agency notices are still free of charge. Unfortunately, filing fees are inevitable if Committee requests parties who issued declarations to submit a written notice where the Committee is unable to have a conclusion.

                               

 

       继2020年1月17日发布的《2018年外国投资风险审查现代化法案》(FIRRMA)的两项修正案之后,美国财政部发布了一项拟议规则,该规则将为根据外国投资委员会(CFIUS或委员会)从事受辖交易的当事方设立一项申报费用。

        美国财政部用于计算申报费用的方式直接而简单,该费用由交易额决定。财政部担心该项申报费用对小型企业的负面影响,而将申报费用定为不超过总交易价值的0.15%。

        对于金额小于50万美金的交易,将不收取申报费。对于金额等于或超过50万美元的交易,申请费用将基于以下分层结构:

  • 交易金额等于或大于50万美元但小于500万美元的交易:申报费用为750美元;

  • 交易金额等于或大于500万美元但小于5千万美元的交易:申报费用为7500美元;

  • 交易金额等于或大于5千万美元但小于2亿5千万美元的交易:申报费用为 75000美元;

  • 交易金额等于或大于2亿5千万美元但小于7亿5千万美元的交易:申报费用为15万美元;

  • 交易金额等于或大于7亿5千万美元的交易:申报费用为30万美元。

        由美国财政部发布并由FIRRMA授权的拟议法规终止了免费审查的时代——CFIUS审查交易在过去30年中均是免费的。尽管财政部认为即将到来的申报费太少(不超过交易额的0.15%)而不至于阻碍申报和影响小微企业,但外国人从事“受管制交易”或“受管制不动产交易”必须向美国联邦政府支付额外费用。根据拟议规则,仅向委员会自愿提交的书面通知需缴纳申报费;提交声明(Declaration)和单方面交易审查仍是免费的。不幸的是,如果委员会要求发表声明的当事方在委员会无法得出结论的情况下提交书面通知,则仍然要缴纳申报费。

 

*The Department of the Treasury is going to collect comments on this proposed rule from March 9, 2020, for 30 days. This filing fee rule may be amended after the reconsideration of the Treasury Department.

*财政部将从2020年3月9日开始收集对这项拟议规则的意见,为期30天。此项申报费规则仍然可能由财政部经考虑及复议后修改。

January 09, 2020

China General Chamber of Commerce (CGCC) – USA 15th Anniversary & Lunar New Year Gala successfully held, DeHeng conferred the Outstanding Contribution Award

2020年美国中国总商会十五周年庆典暨农历新年晚会在纽约顺利举办,德恒(纽约)荣获杰出贡献奖

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New York, January 09, 2020 – Xiaomin Chen and DeHeng (New York) has been invited to the China General Chamber of Commerce USA (“CGCC”) 2020 Lunar New Year Gala & 15th Anniversary Celebration at the New York Hilton Midtown in Manhattan, on January 8th, 2020. As general counsel for CGCC, DeHeng (New York) was conferred the Outstanding Contribution Award. The event welcomed more than 600 distinguished guests from the US-China business community gathered together to honor the contributions of the awardees towards building trust and cooperation between China and the United States. DeHeng (New York) has been dedicated to providing high quality legal services to CGCC since 2005 and has been highly rated. In the future, DeHeng (New York) will continue to contribute to the economic and trade activities between China and the United States through the platform of the CGCC.

2020年美国中国总商会(以下简称“总商会”)十五周年庆典暨农历新年晚会于1月8日在纽约中城希尔顿酒店顺利举办,陈小敏律师(上图右三)代表德恒(纽约)应邀参加该年会。德恒(纽约)律师事务所作为总商会法律顾问荣获杰出贡献奖,该活动邀请了来自中美商界的600多位嘉宾,以表彰获奖者为建立中美之间的信任与合作所做的贡献。德恒(纽约)自2005年始就致力于为该商会提供优质的法律服务并获得极高评价。未来德恒(纽约)将会通过总商会的平台继续为中美之间的经贸活动贡献绵薄之力。

December 23, 2019

Department of Justice Revises and Re-Issues Export Control and Sanctions Enforcement Policy for Business Organizations

美国司法部修订并重新发布针对商业组织的出口管制和制裁政策

The Department of Justice released of a revised policy for business organizations regarding voluntary disclosures of export control and sanctions violations (Voluntary Self-Disclosure Policy or VSD Policy). VSD policy will be formally incorporated into the Justice Manual. This revised VSD Policy signals the Department’s continued emphasis on corporate voluntary self-disclosure, rewarding cooperating companies with a presumption in favor of a non-prosecution agreement and significant reductions in penalties. The VSD Policy is effective today, December 13, 2019. It applies only to export control and sanctions matters brought by the National Division’s Counterintelligence and Export Control Section. It does not apply to any other section in the National Security Division, any other part of the Department of Justice, or any other agency.

美国司法部公布了针对商业组织发布有关自愿披露出口管制和违反制裁规定的修订政策(“自愿自我披露政策”或“VSD政策”)。 该项VSD政策将正式纳入《司法手册》。 修订后的VSD政策表明,美国司法部将继续重视企业自愿披露,向愿意合作的企业提供假定支持不起诉协议和大幅减少罚款作为奖励。VSD政策于2019年12月13日生效。该政策仅适用于国家反情报和出口管制科提起的出口管制和制裁事项。该政策不适用于国家安全部的任何其他部分,司法部其他任何部门,或任何其他机构。

December 23, 2019

DeHeng NY Assists the US Subsidiary of the Largest Chinese Telecommunication Corporation to Develop a Compliance Program

德恒纽约为中国最大通讯公司美国分公司建立合规项目

After successfully establishing compliance programs for the largest investment construction company in the world, one of the largest Chinese commercial banks, a reputable Chinese education foundation and other Chinese institutions in the United States, DeHeng Chen, LLC (DeHeng NY) has entered into an agreement with the US subsidiary of the largest Chinese telecommunication corporation to develop a compliance program for the subsidiary. The compliance team of DeHeng Chen, LLC will conduct assessment of risks, design compliance plans, draft employment handbook, and establish a reporting procedure and mechanism for the subsidiary to comply with all the applicable state laws and federal laws.

继为国际最大的投资建设公司、中国最大的商业银行之一、中国著名教育基金会等在美中资机构成功建立合规制度之后,德恒(纽约)律师事务所的合规团队最近又与中国最大的通讯公司的美国分公司签订协议,为该公司建立合规项目。德恒(纽约)律师事务所合规团队将为该公司进行风险评估,制定合规计划,起草员工手册,建立报告程序和机制,以确保公司业务符合美国联邦与州法律。

October 21, 2019

DeHeng NY provided training on cross-border M&A company management to lawyers from Shenzhen Bar Association

德恒纽约为深圳律协涉外律师提供跨境并购企业管理培训

On October 21, 2019, DeHeng Chen, LLC (DeHeng NY) hosted a training session on cross-border M&A company management to 23 lawyers from Shenzhen Bar Association. The training was delivered by Mr. Xiaomin Chen, the managing partner of DeHeng NY, who is an expert in both American law and Chinese law, and has extensive experience in cross-border transactions. By using cases as examples, Mr. Chen mainly talked about and made suggestions on issues including how to cope with cultural differences and employment placement to ensure good performance during such a transition. The training provided a great opportunity for Chinese lawyers to learn more about cross-border company management and share thoughts on related issues.

2019年10月21日, 德恒(纽约)律师事务所(简称“德恒(纽约)”)为23名来自深圳律协的涉外律师进行了关于跨境并购企业管理问题的培训。该培训由德恒(纽约)主任及合伙人陈小敏律师主讲, 他通晓中美两国法律,并在跨境交易领域有丰富经验。陈小敏律师通过案例主要分析探讨了在并购后这一特殊时期如何妥善处理企业文化管理和人员安置问题,以确保企业持续发展。此次培训为中国律师提供了珍贵的学习经验和交流机会。

May 20, 2019

Xiaomin Chen Selected as a 2019 Super Lawyer

陈小敏律师当选2019年度超级律师

Xiaomin Chen, Managing Partner of DeHeng Chen, LLC has been selected as a 2019 Super Lawyer in Business/Corporate Law in New York. The list, published by Thompson Reuters, highlights outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement.  Mr. Chen has been selected as a Super Lawyer for 8 consecutive years. He is an expert on both Chinese law and American law, and is highly regarded by clients for legal services he provides in the areas of international trade, corporate, M&A, finance, and real estate law.

​近日,德恒(纽约)律师事务所主任陈小敏律师被《超级律师》杂志列为2019年“大纽约地区商法、公司法超级律师”。该超级律师名单由汤姆森路透社发布。超级律师致力于向公众介绍在70多个法律专业领域及各个规模的律所中法律实践领域中表现杰出的律师。这是陈律师连续第8年当选超级律师。陈小敏律师通晓中美两国法律,在国际贸易、公司服务、兼并收购、投资融资、房地产交易、争议解决等多个领域为中美客户提供优质的服务并广受赞誉。

January 29, 2019

Managing Partner Xiaomin Chen attended DeHeng’s "Cross-Border Investment Key Issues Seminar" and "Cross-Border Investment Annual Reception"

德恒(纽约)陈小敏主任参加德恒“跨境投资重点问题研讨会”及“跨境业务年度招待会”

On January 16, 2019, DeHeng’s "Cross-Border Investment Key Issues Seminar" and "Cross-Border Investment Annual Reception" were successfully held in Beijing Head Office. The Seminar focused on key legal practice issues relating to investment in the U.S., Europe and some other countries in Asia and Africa. Experienced lawyers at home and abroad shared high-profile cases and practical experiences in different jurisdictions with respect to key issues in compliance and cross-border investment such as export controls and sanctions, anti-bribery, financial and asset management, and investment in sensitive industries. The Reception provided an opportunity for relaxing and enjoyable dialogues between DeHeng lawyers and invited guests and clients.

DeHeng New York’s Managing Partner Xiaomin Chen, jointly with Mr. Michael A. Curto from Squire Patton Boggs LLP, delivered a speech on US economic sanctions and export controls, which covered OFAC, countrywide embargoes, regulated targets, and secondary sanctions. They also highlighted some cases involving targeted companies in China, Iran, and North Korea and offered deep insights into the practical and political considerations behind the US sanctions.

More than 170 invitees attended the event. This event is well-organized and warmly received by guests, including Professor Yuejiao Zhang (former member of the WTO Appellate Body), Jianxin Chi (Secretary General of the National Federation of Industry and Commerce International Cooperation Committee), Counsellor of the French Embassy in China, Counsellor of the Kazakhstan Embassy in China, legal counsels from dozens of foreign-related Chinese companies, foreign-invested enterprises and foreign institutions, partners of international law firms, Chambers of Commerce representatives, and lawyers from DeHeng offices around the world.

2019年1月16日,德恒“跨境投资重点问题研讨会”及“跨境业务年度招待会”在北京总部成功举办。研讨会聚焦在欧美亚非等国投资的重点法律实务问题,由国内外资深律师就出口管制与制裁、反贿赂、金融与资产管理、特殊敏感行业投资等合规和跨境投资领域的重点问题,与来宾分享了不同法域内的热点案例及实务经验。招待会则为德恒律师与受邀嘉宾、客户提供了轻松愉快的交流机会。

德恒(纽约)律师事务所主任陈小敏律师与来自美国Squire Patton Boggs LLP律所的Michael A. Curto律师,结合中国、伊朗、朝鲜等国企业受到美国经济制裁和出口管制的具体案例,围绕美国的监管机构——海外资产控制办公室(OFAC)、禁运地区、受管制对象、二级制裁等话题及其背后的现实与政治考量展开了分析与交流。

本次活动议程丰富、反响热烈。原WTO上诉机构大法官张月娇教授、全国工商联国际合作委员会秘书长迟建新、法国驻华大使馆参赞、哈萨克斯坦驻华大使馆参赞,以及来自中资涉外企业、外资企业、外国机构等数十个单位的法务代表、国际律师事务所合伙人及商会代表等,与德恒总部及全球各办公室律师代表,总计170余人应邀参会。

June 01, 2018

CGCC, DeHeng and SPB hosted Seminar on the Threat of the US Sanctions Regime for Chinese Companies

美国中国总商会、德恒(纽约)与SPB共同举办讲座探讨美国金融制裁机制对中国公司造成的影响

On May 30, 2018, the China General Chamber of Commerce (“CGCC”), DeHeng Chen, LLC (“DeHeng NY”) and Squire Patton Boggs (“SPB”) co-hosted a seminar on the Threat of the US Sanctions Regime for Chinese Companies. Attorneys from SPB and directors from Navigant discussed U.S. Congressional and administration sanctions priorities and risks, sanctions risks and strategies for Chinese financial institutions, emerging enforcement issues and sanctions-related civil litigation risks. Using the sanctions against North Korea and Iran as examples, the panel discussed the sanctions risks including sanction designations and enforcement actions, explained the expansion of sanctioning powers, and made detailed suggestions for Chinese financial institutions on risk management.  Participants from law firms and financial institutions joined the post-panel discussion and shared thoughts on potential future risks and relevant measures.

2018年5月30日,由美国中国总商会、德恒(纽约)律师事务所(简称“德恒纽约”)及Squire Patton Boggs律师事务所(简称“SPB”)联合主办的讲座在中国银行大楼举行。SPB的律师们分享了美国国会及行政制裁的侧重点和政策风险、中国金融机构的制裁模式和制裁风险、新出现的执行问题以及与制裁相关的民事诉讼风险。 讲座以美国对朝鲜及伊朗曾采取的制裁措施为例,阐述了中国公司可能面临的多种制裁风险,详细探讨了金融制裁适用范围逐渐扩大至第三方交易公司的现状,并为中国金融机构的风险管理提出具体建议。来自各律所及金融机构的近五十名观众热烈参与了讨论。

May 18, 2018

DeHeng NY Assists a Chinese Bank NY Branch on Signing of $75 Million Loan Project

德恒(纽约)为某中国银行纽约分行贷款协议签署提供法律服务

DeHeng Chen, LLC ("DeHeng NY") acted as legal counsel on behalf of a Chinese bank New York branch in the refinancing of a $75 million loan for hotel development that closed in May 2018.DeHeng Chen, LLC provided legal assistance on the successful signing of the Transaction documents.

2018年5月,德恒(纽约)律师事务所(简称“德恒(纽约)”)作为一家中国银行(国际)纽约分行的法律顾问,协助其顺利完成了价值达7500万美元的贷款协议的签署。德恒(纽约)为此次协议的签署提供了法律咨询、审阅和修订交易文件等全方位法律服务。

Xiaomin Chen, Managing Partner of DeHeng NY, assisted by Attorney Deborah Yang, led a team of DeHeng NY lawyers in advising CITIC on this transaction.

本项目由德恒(纽约)陈小敏主任负责,经办人员Deborah Yang律师及德恒(纽约)律师团队。

May 15, 2018

Xiaomin Chen Selected as a 2018 Super Lawyer

陈小敏律师当选2018年度超级律师

Xiaomin Chen, Managing Partner of DeHeng Chen, LLC has been selected as a 2018 Super Lawyer in Business/Corporate Law in New York. The list, published by Thompson Reuters, highlights outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement.  Mr. Chen has been selected as a Super Lawyer for 7 consecutive years. He is an expert on both Chinese law and American law, and is highly regarded by clients for legal services he provides in the areas of international trade, corporate, M&A, finance, and real estate law.

近日,德恒(纽约)律师事务所主任陈小敏律师被《超级律师》杂志列为2018年“大纽约地区商法、公司法超级律师”。该超级律师名单由汤姆森路透社发布。超级律师致力于向公众介绍在70多个法律专业领域及各个规模的律所中法律实践领域中表现杰出的律师。这是陈律师连续第7年当选超级律师。陈小敏律师通晓中美两国法律,在国际贸易、公司服务、兼并收购、投资融资、房地产交易、争议解决等多个领域为中美客户提供优质的服务并广受赞誉。

January 02, 2018

DeHeng NY Advises on Shanghai Hongxiao’s Acquisition of miVIP

德恒(纽约)助力宏啸科技收购美国医疗管理企业miVIP

DeHeng Chen, LLC (“DeHeng NY”) has advised Shanghai Hongxiao Science and Technology Co., Ltd (“Shanghai Hongxiao”), a shareholding company of listed company Shanghai Hongda Mining Co., Ltd. (“Shanghai Hongda”) on its $300 million acquisition of an 80% equity interest in miVIP Healthcare Holdings, LLC (“miVIP”), a healthcare management company.  The deal closed on January 1, 2018.

2018年1月1日,在德恒(纽约)律师事务所(“德恒纽约”)协助下,上海宏达矿业股份有限公告(“上海宏达”,600532.SH)的参股公司——上海宏啸科技有限公司(“宏啸科技”)完成了对美国医疗管理企业miVIP Healthcare Holdings, LLC(“miVIP”)80%股权的收购交割工作。交易对价约为3亿美元。

 

As the U.S. counsel to Shanghai Hongda and Shanghai Hongxiao for this acquisition, DeHeng NY advised on pre-closing legal due diligence, healthcare regulatory compliance, negotiation and drafting of transactional documents, CFIUS review and HSR filings, and deal closing.

在本项目中,德恒纽约作为上海宏达和宏啸科技的美国法律顾问,主要负责对美国收购目标公司的尽职调查、美国医疗行业合规、交易文件谈判和起草、通过美国外国投资委员会(CFIUS)和美国反垄断(HSR)对交易的审查,以及交易交割等全方位法律服务。这是2017年中资公司在美国并购案少数几个被CFIUS批准的交易。

 

Xiaomin Chen, Managing Partner of DeHeng NY, led a team of lawyers comprising Shang Jiang, Deborah Yang, Adam Eilenberg, Ted Chastain, James Shorter and other counsel.

本项目由德恒纽约陈小敏主任律师负责,经办律师为姜尚律师、Deborah Yang律师,团队成员还包括Adam Eilenberg律师、Ted Chastain律师、James Shorter律师等。

September 18, 2017

DeHeng Hosts Seminar on U.S. Investment and Tobacco Compliance

德恒纽约举办在美投资及烟草风控讲座

On September 18, 2017, Chinese Tobacco Delegation, which was made of employees in Chinese State Tobacco Monopoly Administration and Tobacco Monopoly Administrations (Corporations) of 18 provinces, arrived Chinese General Chamber of Commerce (CGCC) which located in New York to attend learning and communication activities regarding overseas investment. In the morning, Attorney Xiaomin Chen, who is also the Managing Partner of DeHeng Chen, LLC in New York City and global partner of DeHeng Law Offices, one of the largest law firms in China, Attorney Shang Jiang, and Attorney Deborah Yang discussed laws, regulations and legal practices relating to tobacco industry’s investment in U.S.

 

2017年9月18日,由中国国家烟草专卖局及18个省及直辖市的烟草专卖局(公司)人员组成的中国烟草代表团一行抵达纽约,与德恒(纽约)律师事务所(简称“德恒纽约”)的律师们举行座谈,探讨了在美投资的法律法规以及烟草行业的法律风险防控。座谈会由德恒纽约的陈小敏主任主持,姜尚律师和Deborah Yang律师进行了主题发言。

June 13, 2017

DeHeng Assisted with Technology Cooperation between Yangquan Coal and GTI

德恒纽约为阳煤集团与GTI签署技术开发协议提供法律服务

DeHeng Chen, LLC, acting as legal counsel, assisted Yangquan Coal Industry (Group) Co., Ltd with signing of a Technical Development Cooperation Agreement with the Gas Technology Institute in Taiyuan, China.

 

2017年6月13日,德恒(纽约)律师事务所作为阳泉煤业(集团)有限责任公司集团法律顾问,协助其与Gas Technology Institute在太原签署了技术开发合作协议,希望借此实现煤气化技术的升级和改造。

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