Sabine Naugès
Sabine Naugès counsels clients on all aspects of public law, including administrative and regulatory, competition and constitutional law. Among other high-profile clients, Sabine has advised telecommunications companies France Télécom and Orange on regulatory matters in cases before administrative and commercial courts, and before EU and French competition authorities. She also regularly represents major companies with interests in a wide range of industries, including aerospace, energy, oil and gas, and public health care, before the French government and in litigation, in a range of regulatory and administrative matters.
Would the Transfer of a Sanctioned Entity’s Shares to a Trust be Effective Enough to Ensure an EU Company’s Shares are No Longer Under the Control of, or Related to, a Sanctioned Shareholder?
By Sabine Naugès and Fabio Cozzi on Sep 5, 2024
Posted In Sanctions & Export Control
Given the depth of the Russian sanctions, some EU companies that are directly or indirectly owned by sanctioned entities have considered transferring the company’s shares to a trust. This divestment mechanism allows for a temporary transfer of ownership, with the trust assets isolated in an autonomous entity, separate from the settlor’s own assets. The overall...
Continue Reading
Quarterly Sanctions Update | Q2 2024
By Sabine Naugès, Raminta Dereskeviciute and Michal Chajdukowski on Jul 8, 2024
Posted In Sanctions & Export Control
On June 24, 2024, the European Union adopted its 14th sanctions package. While the focus of this package was to curb the violation and circumvention of sanctions through the introduction of due diligence obligations for non-EU subsidiaries, or the expansion of “no re-export to Russia” clause requirement, ample other amendments were also introduced, such as...
Continue Reading
Export Controls in the Aeronautics, Space and Defense Sector | Conference Key Takeaways
By Sabine Naugès on Jun 20, 2024
Posted In Sanctions & Export Control, Transport & Logistics
Export control in the aerospace and defense (ASD) sector is a critical and complex issue. At the European level, one of the main standards for export control in the ASD sector is the regulation governing dual-use goods. However, within the European Union, regulations can vary significantly between Member States. This regulatory landscape indicates the necessity...
Continue Reading
Private Equity Firms Beware | Inflation Reduction Act Likely to Trigger FSR Obligations
By Sabine Naugès and Stéphane Dionnet on Jun 11, 2024
Posted In Foreign Subsidies, Public Procurement
One year after its entry into force on July 12, 2023, the Foreign Subsidies Regulation (FSR) continues to make headlines. The FSR allows he European Commission (EC) to investigate financial contributions granted by non-EU governments to companies active in the European Union and to impose measures to redress any uncovered distortive effects. Contrary to expectations,...
Continue Reading
Spotlight on the “Partner Countries” Exemption from Sanctions against Russia
By Raminta Dereskeviciute, Fabio Cozzi, Sabine Naugès, Dr. Alexa Ningelgen, Renate Prinz, Michal Chajdukowski, Benoit Feroldi, Kai Grandpierre and Dr. Tim Oliver Weill on Jun 7, 2024
Posted In Sanctions & Export Control
From June 20, 2024, EU companies with a presence in Russia will no longer be able to rely on the “partner countries” exemption and will be required to obtain, or rely on, a licence to provide business services and/or software to their Russian entities. Competent authorities of the EU Member States responsible for granting licences...
Continue Reading
Extended Screening of Foreign Investment in France: A Risk of Incompatibility with Company Law?
By Sabine Naugès and Professor Rémi Dalmau on May 7, 2024
Posted In France, Foreign Investment
Control of foreign direct investments in France (FDI) has been steadily tightened since 2014. The provisions of Articles L. 151-3 and R. 151-1 et seq. of the French Monetary and Financial Code (CMF), as supplemented by the Decree of December 31, 2019, organize this national screening mechanism based on the prior authorization of certain investments...
Continue Reading
European Union Criminalizes Violations of Sanctions
By Sabine Naugès, Raminta Dereskeviciute and Michal Chajdukowski on May 2, 2024
Posted In Sanctions & Export Control
As announced in our last Quarterly Sanctions Update, on April 12, 2024 the Council of the European Union adopted a directive criminalizing sanctions violation at the European Union (EU) level. In this post, we provide a summary of the key provisions of this directive, to be followed by a second post focusing on its potential...
Continue Reading
First Dawn Raid Carried Out by The European Commission | Another Investigative Tool Deployed Under the Foreign Subsidies Regulation
By Stéphane Dionnet, Sabine Naugès and Hendrik Viaene on Apr 26, 2024
Posted In Foreign Investment, Foreign Subsidies, Public Procurement
Since the Foreign Subsidies Regulation (FSR) entered into force on July 12, 2023, the European Commission has increasingly started to wield the powers granted to it. It opened its first in-depth investigation into a public procurement process in Bulgaria in a case involving locomotives on February 16, 2024 (read more in our previous post here)...
Continue Reading
How to Determine Which Investors Should be Disclosed Under the Foreign Direct Investment Screening Regime in France, the United Kingdom and the United States
By Sabine Naugès, David J Levine and Max Küttner on Apr 15, 2024
Posted In Foreign Investment
Where a transaction is carried out by an investment fund, the question of which investors should be disclosed under Foreign Direct Investment will eventually surface. We consider the necessary disclosures under French, US and UK FDI screening. There is significant potential for divergence as to how new(er) FDI rules are applied in practice, in particular...
Continue Reading
Quarterly Sanctions Update | Q1 2024
By Raminta Dereskeviciute, Sabine Naugès and Michal Chajdukowski on Apr 8, 2024
Posted In Sanctions & Export Control, Trade Control & Customs
The EU and the UK continue in their efforts of tightening sanctions against Russia, particularly in the context of the second anniversary of the Russia’s invasion of Ukraine and the sudden death of the Russian opposition leader Alexei Navalny. In this Quarterly Sanctions Update, McDermott Sanctions and Export Controls team summarizes the most recent and...
Continue Reading
