The Finance (Miscellaneous Provisions) Act 2020 has amended some 70 pieces of legislation so as to implement the measures set out in the Budget 2020 2021. The Act came into force on 7 August 2020.
Nicolas Richard's practice covers all aspects of corporate and commercial law with particular focus on banking and finance, capital markets, aircraft and shipping financing and real estate.
Nicolas also regularly advises local and international clients on corporate matters, mergers and acquisitions and related regulatory issues (including IPOs and takeovers). His experience includes all manner of private share and business acquisitions / disposals, private equity, group reorganisations and joint ventures.
He advises leading international banks and multinational companies on financing / investment structures and collaterals involving Mauritian vehicles.
Nicolas is experienced in all aspects of commercial real estate, including development, joint ventures and structured real estate transactions.
Experience has included advising:
- IBL ltd in in connection with the takeover of Lux Island Resorts and of BlueLife Ltd
- A multinational advertising and public relations company in connection with its acquisition of a minority shareholding in an investment company based in Mauritius holding shares in companies in several African countries
- An international telecommunications and media company on its multimillion euro Term Loan Facility from an international bank
- A major international company with regards to its acquisition of a minority stake in one of the leading destination management companies in Mauritius
- A local conglomerate in relation to the launch of a retail park
- An international African group on the sale of its Mauritius subsidiary operating in the insurance sector
- A major local bank in connection with the financing of a real estate project (smart city) on the west coast of the island
- A conglomerate in connection with the financing, construction and supply and commissioning of a large wind farm which will have nameplate capacity of 29.4 MW
- Attorney-at-law admitted with the Supreme Court of Mauritius (2005)
- Aix en Provence University, France, D.E.S.S. Transports maritimes et aériens (postgraduate specialisation in air and shipping law) (1998)
- Réunion University, France, Maîtrise en droit privé (equivalent to an LLM with specialisation in private international law) (1997)
- Réunion University, France, Licence en droit privé (equivalent to an LLB with specialisation in commercial law) (1996)
- Consistently ranked as a highly regarded “leading lawyer” in IFLR1000
- Ranked as leading lawyer in Chambers & Partners Global
- Ranked 1st nationwide at the Attorney’s examination organized by the Mauritius Council of Legal Education (2003)
- Mauritius law Society
- Mauritius Institute of Directors
- International Bar Association
In a communique issued by the Government of Mauritius on the 9 May 2020, it is highlighted that “unlike in the past when there were always fruitful consultations” between the EU and Mauritius, there were this time no consultations whatsoever before the announcement of the “Blacklist” and that the decision of the EU is ”contrary to the spirit of dialogue and partnership which binds Mauritius and the EU.”
The COVID-19 (MISCELLANEOUS PROVISIONS) Act amends some 56 legislations which the COVID-19 pandemic context rendered necessary to mitigate its negative impact on the Mauritian economy and on the lives of Mauritians in general.
While the outbreak of the COVID-19 pandemic subsists, the risks for businesses of not being able to fulfil their contractual obligations or of experiencing the default of the other contracting party is a real concern for economic operators. To manage this unprecedented situation and provide an adequate response, a careful analysis of the contract terms is essential to enable parties to exercise their rights if a dispute arises from non-performance. As a first step, it will generally be a question of analysing the possibility of invoking the defence mechanism of force majeure.
The Mauritius Revenue Authority ("MRA") has, on 28 November 2018, issued a Statement of Practice (“SOP”) to clarify the concept of "Place of Effective Management" (or “POEM”) as set out in the new section 73A of the Income Tax Act, which was introduced by the Finance (Miscellaneous Provisions) Act 2018.