Ashurst leads on India’s largest single real estate deal

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Ashurst leads on India’s largest single real estate deal
Ashurst has acted as lead counsel for the largest single real estate deal in India, advising APG Strategic Real Estate Pool NV in the formation of a U$450 million joint venture company and acquisition of three shopping malls.

“This investment by APG is particularly unique, as it is structured as the formation of a self-managed operating company of which APG are the majority shareholder, and gives APG immediate exposure to the retail sector in India at a time when organized retail is in early stages of taking flight in the country,” explained lead counsel Dean Moroz.

Hong Kong-based partner Moroz led the Ashurst team along with Singapore-based Ed Bennett and supported by lawyers including senior associates Derek Leung (Hong Kong), Jonathan Scott (Sydney) and Liam Nankervis (Melbourne).
Pay reviews back at international firm
Berwin Leighton Paisner is to reintroduce pay reviews following the post-Brexit-vote freeze introduced at many London-based law firms.

Firms were fearful that the worst assessments for the UK economy would be realised but with data showing better-than-expected growth so far, some have reversed their decisions.

For BLP’s lawyers, business development and support staff it means that pay reviews will resume for 2017 with the next round in July.
McDonalds sues Florence for $20 million for rejected restaurant application
McDonald’s has filed a lawsuit against the city of Florence following a refusal of its application for a restaurant in its historic central square.

The global corporation wanted to cite its famous global arches near the city’s 800-year old Duomo Cathedral in the Piazza del Duomo but city officials have regulated that retailers and food outlets must use produce from Tuscany.

The Independent says that McDonald’s is claiming U$20 million in damages saying that it has made various operational changes to fit the rules and has still been refused.

The report notes that the restaurant operator already has four outlets within a 5 minute walk of the square.