High Stakes Cross-Border Transactions: Practice and Pitfalls in National Security Reviews

October 24, 2019 at 4:00pm5:30pm
American Bar Association's Asian Pacific Forum
Hong Kong International Arbitration Centre

Hong Kong 38th Floor Two Exchange Square

8 Connaught Place, Central

Lawyers and their clients live in an era in which “national security” is increasingly invoked by governments and regulators to evaluate whether to permit cross-border transactions. Companies involved in critical infrastructure or technology such as 5G offer attractive, lucrative commercial opportunities. How governments and regulators understand national security, when they will invoke it, and what will cause them to permit or block a deal on national security grounds is becoming an increasingly important piece of the transaction puzzle. With a view to providing attendees with advice to help them maximize the probability of deal approval or minimize risk of loss should regulators bar the transaction, this panel will examine the high stakes risks when national security scrutiny is applied to transnational deals, particularly those involving Asian companies, whether acquirers or targets. In an interactive session, our panel of experts will examine several legal issues including the different understandings of national security between Asian and American regulators; whether certain industries are more likely to trigger national security scrutiny; the question of when should outside counsel begin to engage with governments or regulators and whether or how transaction documents should cover break fees and insurance to recognize the risks and uncertainties of national security reviews.