Demerger of an energy company
The client intended moving all the solar energy activities of one of its subsidiaries to a new subsidiary to be created by means of a legal demerger. However, before the final decision-making, the conditions under which this legal demerger would be possible had to be determined. This required an analysis of all contracts with customers, suppliers, and other business associates. To perform this analysis, Halsten's team applied the contract analysis tool Luminance. The Luminance software can read legal documents and grasp the legal terms used in them. As a result, the software can perform an analysis very quickly and present the outcome. Furthermore, using artificial intelligence, Luminance identifies the clauses that are directly related to control and the conditions under which control can change, in this case, because of the legal demerger. Halsten was able to provide the client efficiently and effectively with a comprehensive report and the advice it needed.
Laura Eelzak, legal counsel at Halsten:
“Performing this type of analysis by hand is time-consuming and costly. A tool like Luminance enhances the efficiency of the analysis and makes it possible to optimise the results. Luminance also offers the possibility of dividing and registering the work within the team using flowcharts of the activities and tasks. This facilitates remote collaboration to compile a large data set without losing oversight. What is more: this creates a complete audit trail, and reports can be generated quickly. This project is an example of how legal tech solutions make it possible to work efficiently under time pressure and rapidly realise the desired results. This gave the company green light: nothing in the analysed data opposed a legal demerger.”
Project features
- Investigation and identification using the Luminance artificial intelligence platform
- Contract analyses
- A streamlined, uniform process
- Time savings