Irving, Carlson & Xavier LLP (ICX), a leading counsellor to global financial institutions and corporations, contributed to the Financial Markets Law Committee’s (“FMLC”) June 2013 paper, Discussion of legal uncertainties arising from the Solvency II Directive, which identifies issues of legal uncertainty in the provisions of the Solvency II Directive and how they might be addressed. The Directive 2009/138/EC aims to harmonize European insurance regulation, primarily the capital that companies must hold. The Solvency II Directive was supposed to become effective from January 1, 2014, however delays until 2016 are being suggested.

Irving, Carlson & Xavier LLP, a leading counselor to global financial institutions and corporations, announced today that client Wayne Corporation, plc, a biotechnology company, will purchase from Thorsen, Inc. a 21% participation interest in potential future royalty payments related to four respiratory programs partnered with GarnerSmith.