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Bankruptcy Moratorium Expiration: The Supreme Court of the Russian Federation Clarifies a Number of Key Issues
ALRUD Law Firm, January 2021

On January 7th 2021, the bankruptcy moratorium, which had been in effect since April last year, expired. The main conditions of the bankruptcy moratorium were described earlier in details: in newsletters “Moratorium on bankruptcy proceedings”and 'Russian bankruptcy moratorium extended until January, 2021”...

Winding-Up a Company: It Now Takes More to Wind-Up a Company, in the Same Amount of Time
Shearn Delamore & Co., January 2021

BackgroundSection 466(1)(a) of the Companies Act 2016 (“CA 2016”) provides that a company is deemed unable to pay its debts if it is indebted in a sum exceeding an amount prescribed and neglects to pay the sums stipulated in the notice of demand within 21 days of being served with the said notice.Through the issuance of the Prescription of Amount of Indebtedness of Company published on 26 January 2017 (“2017 Threshold Order”), this amount was fixed at RM10,000...

A Proxy Season and Annual Report Guide to 2021
Dinsmore & Shohl LLP, January 2021

This is a summary of the Annual Report. Click here to access the full guide. The 2020 proxy season shareholder proposals were already submitted before the COVID-19 shadow loomed large over the season; however, such shadow likely impacted how shareholders voted on the proposals themselves, impacted business throughout 2020, and continues to jolt 2021 and the forthcoming 2021 proxy season...

Bitesize: Freeports – Joint Ventures
Shoosmiths LLP, January 2021

To boost the economy post-Brexit the government is committed to establishing up to 10 freeports across the UK and published a bidding prospectus at the end of last year. In our bitesize articles we provide a high-level overview of some of the key considerations if you are planning to participate in a bid and/or are considering the potential benefits of locating (or relocating) all or part of your business within a freeport (when established)...

Revised Telecoms Legislation Enters Into Force
Walder Wyss Ltd., January 2021

Parliament has revised the federal telecoms legislation – in particular, the Federal Telecommunications Act (TCA) and its various implementing ordinances. These revised regulations entered into force on 1 January 2021. The revision of the telecoms legislation brings about several fundamental changes that affect consumers as well as telecoms service providers (TSPs) and telecoms operators...

Power to the Contract
TSMP Law Corporation, January 2021

A recent court of appeal decision has definitively clarified the test for assessing the enforceability of liquidated damages clauses in Singapore. Contracting parties intending to incorporate liquidated damages clauses must be mindful of the type of damages that may be recovered in the event of default, especially when exercising a contractual right to terminate the contract...

Enhanced Rights Issue Framework: Temporary Relief Measures to Facilitate Fund Raising by Listed Issuers.
Shearn Delamore & Co., January 2021

In this article, Gan Shao Qi discusses some of the recent measures announced to facilitate fund raising by listed issuers through a rights issue in Malaysia to assist companies and businesses that require access to immediate funding due to Covid-19...

International Sanctions: A Dedicated Regime for Financial Sanction in Luxembourg
Arendt & Medernach, January 2021

December 23, 2020 the Luxembourg legislator has published the law of 19 December 2020 implementing financial restrictive measures (“law of 19 December 2020”). This law has repealed the law of 27 October 2010 enhancing the anti-money laundering and counter terrorist financing legal framework...

The BCA Suspects Caudalie of Imposing Minimum Resale Prices on its Distributors
ALTIUS/Tiberghien, January 2021

Over the last 4 years, the Belgian Competition Authority (“BCA”) has increasingly scrutinised anticompetitive restraints in vertical agreements and assessed these restraints under Article IV.1 of the Belgian Code of Economic Law and Article 101 TFEU...

The Trade and Cooperation Agreement between the EU and the UK Post Brexit – What Happened to "A Level Playing Field"?
Simonsen Vogt Wiig AS, January 2021

At Christmas, the Trade and Cooperation Agreement (TCA) consisting of 1256 pages was finally agreed between the EU and the UK.  Crucially, the Agreement is between the EU and UK only and not the EU and its member states and the UK. The TCA establishes a free trade area for goods and services, in accordance with the WTO law. Both sides can apply trade remedies as is usual for free trade agreements such as on condition anti-dumping duties, anti-subsidy duties, and economic safeguards...

2021: In Which We Rise from the Ashes of the Pandemic - Goodbye, Annus Horribilis?
TSMP Law Corporation, January 2021

If anyone had told you that 2020 would be a year in which you are virtually guaranteed a lie-flat bed in economy class, businesses instructed employees not to come into the office, and budget supermarket Sheng Siong’s shares outperformed bank blue chip DBS’s, you would have sent the chap to have his head checked.But as the new coronavirus spread worldwide, the ensuing Covid-19 pandemic forced billions into lockdown...

A “Stimulus” to “Modernize” Intellectual Property
Buchalter, December 2020

On December 27, 2020, President Trump signed the “Consolidated Appropriations Act, 2021” into law. Most referred to this as the Coronavirus Relief Bill and thought that it only contained a stimulus package. However, within it, were also changes to intellectual property law...

Bird’s-Eye View on the Amendments to the Brazilian Insolvency Law
Veirano Advogados, December 2020

On December 24, 2020, the Brazilian President sanctioned, with some vetoes, an amendment to Law 11,101/2005, which governs judicial reorganizations, pre-packaged reorganizations and bankruptcy liquidations of businessmen and companies. The vetoes can still be overthrown by the Brazilian Congress...

Post Brexit: How Are Your Trade Marks Impacted?
Deacons, December 2020

The Agreement on the Withdrawal of the United Kingdom (UK) from the European Union (EU) provides for a transition period ending on 31 December 2020. Thereafter, EU trade marks (EUTM) will cease to extend protection to the UK. To safeguard these rights, the UK government has implemented measures to ensure that EUTM owners will continue to enjoy trade mark rights in the UK. Trade mark rights registered as of 31 December 2020 will be automatically cloned into national UK registrations...

Best Practices: Change Orders — Things to Watch for in Negotiations
Bradley Arant Boult Cummings LLP, December 2020

It is the rare construction project that is completed without any change in the work. In most sophisticated construction projects, the contractual mechanism for managing these changes involves the issuance of a change order. However, managing change orders is not something project teams are always well-trained on, which can cause issues for small and big contractors alike...

Buchalter COVID-19 Client Alert: San Francisco Commercial Eviction Moratorium Update
Buchalter, December 2020

  In an update to our client alert from November 30 regarding the San Francisco commercial eviction moratorium previously passed by the Board of Supervisors, we note that, following our publication of the client alert, the Board of Supervisors, on December 1, amended the moratorium to clarify previous language on a retail tenant’s right to terminate its lease that was ambiguous...

A Year of Long Tails and Shop Windows
MinterEllisonRuddWatts, December 2020

The direction of travel in M&A activity and litigation in 2021 Coming to the end of what can safely be described as an unprecedented year, we look ahead to 2021, alive to the fact that predictions are, at best, difficult. While we are currently sailing in relatively calm waters, with economic indicators better than predicted, most commentators agree that a storm is approaching. We simply do not know when or how it will hit...

The Arrival of the Long Awaited KBLI Numbers in Fintech
Makarim & Taira S., December 2020

On 24 September 2020, Statistics Indonesia (Badan Pusat Statistik - “BPS”) issued BPS Regulation No. 2 of 2020 on Indonesian Standard Business Classifications (Klasifikasi Baku Lapangan Usaha Indonesia - “KBLI”), which is known as the 2020 KBLI. The 2020 KBLI came into force on its issuance date and revoked BPS Regulation No. 95 of 2015 on the KBLIs, as amended by BPS Regulation No. 19 of 2017, which is known as the 2017 KBLI...

Brief Introduction to Indonesia’s Job Creation / Omnibus Law on Broadening of the Investment Ecosystem and Business Activities, the Ease of Doing Business and Acceleration of National Strategic Projects Oriented Towards National Interests
Makarim & Taira S., December 2020

Law No. 11 of 2020 on Job Creation (the “Job Creation Law” or known as the Omnibus Law) was issued and came into effect on 2 November 2020. It is mainly based on the principles of the equalization of rights, legal certainty, greater ease of doing business, togetherness, and independence...

New KPPU Guidelines on Merger Control Rules
Makarim & Taira S., December 2020

KPPU has recently issued its long-anticipated guidelines on the Indonesian merger control rules (“KPPU Guidelines”) under KPPU Regulation No. 3 of 2019 on The Assessment of Mergers or Consolidations of Business Entities or Acquisitions of Shares in Companies (“KPPU Regulation 3/2019”) issued at the end of last year. The guidelines are relatively long and detailed (almost 100 pages), and some of their content is still subject to the KPPU’s interpretation...

Regulating the Growth of Electronic and Digital Banking Services
Makarim & Taira S., December 2020

With the rapid development of technology and the rise of new finance products and players in the fintech industry, banks are pushed to produce new products and innovative services in order to serve their customers and keep abreast of the behaviour of consumers who appreciate the convenience of digital services. In response to this, the Financial Services Authority (Otoritas Jasa Keuangan -- OJK) has issued OJK Regulation No. 12/POJK...

The Indonesian Government’s Relaxation for Foreigners Entering Indonesia
Makarim & Taira S., December 2020

On 29 September 2020, the Minister of Law and Human Rights (“MOLHR”) issued Minister of Law and Human Rights’ Regulation Number 26 of 2020 on Visas and Stay Permits During the Adaptation to the New Normal Period (“MOLHR Reg. No...

OECD Releases Helpful New Guidance on Transfer Pricing During the Pandemic
Arendt & Medernach, December 2020

It is clear that government restrictions and trading difficulties have created an environment in which existing transfer pricing policies will not always be appropriate. The OECD has done well to reach rapid consensus among its members on four key transfer pricing topics, namely: comparability analysis, losses and the allocation of COVID-19-specific costs, government assistance programmes and advance pricing agreements (APAs)...

Employee Benefits & Executive Compensation 2020 Year-End Client Advisory
Verrill, December 2020

Click here to view as a PDF. This Client Advisory highlights important developments in the law governing employee benefit plans over the past year. It offers insight into what these developments mean for employers and plan sponsors and previews developments we expect to see in 2021...

Steps for Proactive CPRA Compliance
Bradley Arant Boult Cummings LLP, December 2020

California voters signaled that privacy is a top priority by overwhelmingly approving Proposition 24 on Nov. 3, 2020—the California Privacy Rights Act (CPRA). The CPRA amends and significantly strengthens the recently enacted California Consumer Privacy Act and moves California's privacy laws toward those of the EU General Data Protection Regulation (GDPR)...

 

 

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