Protecting Integrity of Japanese International Investment Agreements

A partner with King & Spalding, LLP, in Atlanta, Zachary Andrew McEntyre is part of a firm that offers dedicated advice in global M&A transactions. He focuses on handling the defense of complex class action litigation cases. Zachary Andrew McEntyre’s firm is also active in protecting the interests of foreign investors. In September 2016, the firm published a report focused on Japanese corporations that invest abroad.

A particular investment strategy involves the issuance of International Investment Agreements (IIAs), which come in the form of Bilateral Investment Treaties (BITs) and Treaties with Investment Provisions (TIPs). BITs are formed as agreements between two nations and establish a workable framework under which investments from parties in the respective countries are protected and promoted.

Over the half century since they were introduced as a preferred IIA form, BITs have evolved, with investor claims now backed by state obligations to provide fair and equitable treatment (FET) on all foreign investments covered. FET is interpreted in bilateral disputes as incurring an obligation, such as transparency, consistency, and clarity. In cases where FET standards are not met, tax exemptions may be withdrawn and operating licenses revoked. In addition, tariff adjustments may be made.

Currently, Japan has entered into 20 TIPs and 27 BITs, with an emphasis on Asia and the Middle East. The country had $128.6 billion in foreign direct investment in 2015, which is second only to the United States and relies on proper IIA adjudication in protecting its diverse investment portfolio.

Atlanta Firm Advises EndoChoice in its Acquisition

EndoChoice Holdings, Inc.

 

Zachary Andrew McEntyre is a respected Atlanta lawyer who serves King & Spalding, LLP, as a partner and handles diverse commercial litigation cases. In September 2016, Zachary Andrew McEntyre’s firm provided counsel to EndoChoice Holdings, Inc., in its definitive merger agreement, through which the company will be acquired by Boston Scientific Corporation and folded into its endoscopy business.

The cash agreement terms involved a Boston Scientific tender offer of $8 per share for the remainder of outstanding EndoChoice shares. As per the terms, the successful tender offer will provide the same consideration to those stockholders who did not take part in the tender offer.

The total equity value associated with this major transaction is $210 million, with a closing by the end of the fourth quarter of 2016 expected. King & Spalding, LLP’s involvement reflects the firm’s status as one of the leading global advisors on M&A transactions. Mr. McEntyre’s responsibilities extend to representing corporate defendants in consumer class action suits.