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Guidelines on the Implementation of the Hague Service Convention in the Philippines
SyCip Salazar Hernandez & Gatmaitan, October 2020

This is an overview of Supreme Court Administrative Order No. 251-2020 (Guidelines on the Implementation in the Philippines of the Hague Service Convention on the Service Abroad of Judicial Documents in Civil and Commercial Matters)1 (the Hague Service Convention Guidelines). The guidelines became effective on October 1, 2020.2 A...

India Attempts to Thwart Import of Chinese Goods Under FTAs
Kochhar & Co. Advocates & Legal Consultants, October 2020

Introduction The balance of trade between India and China continues to be heavily tilted in favour of China. Trade remedies such as anti-dumping and countervailing duties have been used frequently by India to curtail import of Chinese goods. To overcome such barriers, India has long suspected that China has been routing its goods through the ASEAN countries by misusing the Free Trade Agreements (‘FTA’)...

US-India Partnership in the Defence Sector Under the Atmanirbhar Bharat (Self-Reliant and a Resilient India)
Kochhar & Co. Advocates & Legal Consultants, October 2020

Background and about Atmanirbhar Bharat The idea of Atmanirbhar Bharat,or self-reliance, was at the heart of the Hon’ble Prime Ministerof India, Shri Narendra Modi’s address to the nation on 12May 2020 when he announced an economic package towards building aAtmanirbhar Bharat, or a self-reliant, resilient India...

COVID-19 – A Force Majeure Event or Simply a Pandemic?
Kochhar & Co. Advocates & Legal Consultants, October 2020

Introduction What is known to exist but is not visible is surrounded by mystery. It excites the imagination and people spin yarns about it. Though that is not true when it comes to novel coronavirus (“COVID-19”), the outbreak of which has been globally reported, COVID-19 has caused worldwide unprecedented disruptions to business operations; and the commercial turmoil continues...

Distressed Debt and Special Situations
MinterEllison, October 2020

Facing Australia's first recession in 30 years, Australian businesses are attempting to steer a course not only for survival but for the growth needed to be a viable long term. But alongside uncertainty comes opportunity. Our new report, prepared in partnership with Acuris, explores the key steps for companies and investors to take advantage of the opportunities – and decisive, informed and proactive action is critical...

BSP Issues Rules on the Implementation of the One-Time 60-Day Grace Period on Loans
SyCip Salazar Hernandez & Gatmaitan, October 2020

The Bangko Sentral ng Pilipinas (BSP, the Central Bank of the Philippines) has issued Memorandum No. M-2020-0741 (Implementing Rules and Regulations and Frequently Asked Questions on Section 4(uu) of the R.A. No. 11494 or the “Bayanihan to Recover as One Act” (Bayanihan 2)) to guide BSP-Supervised Financial Institutions (BSFIs) on the implementation of the one-time 60-day grace period granted to debtors under Bayanihan 2 for loan payments falling due by December 31, 2020...

Embracing Momentum: Andrew Eagles on Sustainability in Commercial Property Post COVID-19
MinterEllisonRuddWatts, October 2020

Although COVID-19 is an unrivalled pandemic, it feels all too familiar to our continuing battle against climate change. Both global crises are forcing us to modify our way of living – whether we are ready or not...

Insurer Remedies for Fraudulent Claims
MinterEllisonRuddWatts, October 2020

In its recent decision in Taylor v Asteron Life Ltd,[1] the Court of Appeal discusses the fraudulent claims rule – the first time that this rule has been considered in any detail by an appellate court in New Zealand. The Court held that under this rule, a term is implied into every insurance contract, requiring the insured to act honestly when making a claim...

Court of Appeal Clarifies the Effect of Aggregation Clauses
MinterEllisonRuddWatts, October 2020

In Moore v IAG New Zealand Limited, the Court of Appeal provides helpful guidance on how aggregation clauses in insurance policies are to be interpreted and applied. Background This case concerned the plaintiff’s home, which was damaged in the February 2011 and June 2011 Christchurch earthquakes. Approximately $2.08 million of damage was caused by the February earthquake and $2.77 million of damage was caused by the June earthquake...

Regulatory Update: Progress on Financial Advice and Conduct Regimes Despite COVID-19 Delays
MinterEllisonRuddWatts, October 2020

In this article, we examine the progress of key regulatory changes for insurers and other financial institutions, and the further delays resulting from COVID-19. When New Zealand finished the first lockdown in May, regulators indicated that proposed law changes would be delayed due to COVID-19 but remained optimistic that progress could be made towards the end of this year. However, with the second lockdown for Auckland in August, further delays are expected...

Tribunal Requires Claimants to “Prove Their Case”
MinterEllisonRuddWatts, October 2020

In a recent decision, the Canterbury Earthquakes Insurance Tribunal has reiterated that claimants must substantiate their claims against insurers and other parties. The decision also underscores the Tribunal’s pragmatic approach in determining claims. The claim The Cowies’ company owned a property in Canterbury which allegedly suffered damage in the 4 September 2010 earthquake...

No Safe Haven for Contractors Misusing Confidential Information
MinterEllisonRuddWatts, October 2020

In a recent High Court decision, Haven Insurance Limited v Lombard [2020] NZHC 1248, several former contractors to insurance broker Haven Insurance Limited were held liable for misusing confidential information. Haven’s claim was, however, somewhat hampered by a failure to ensure that the relevant contractual arrangements were properly documented, serving as a reminder to ensure that arrangements are formalised...

Class Actions and Litigation Funding Project Revived
MinterEllisonRuddWatts, October 2020

The Law Commission will soon seek feedback in its Class Actions & Litigation Funding Review Project. This is an area of continued interest to the insurance market. The Law Commission’s review Class actions The Law Commission will first look at class actions: proceedings brought by or on behalf of a group of plaintiffs with the same interest. Unlike other jurisdictions, New Zealand does not have a comprehensive class actions regime...

Cyber Attacks and the Insurance Response
MinterEllisonRuddWatts, October 2020

New Zealand’s stock exchange, NZX, recently suffered cyber-attacks on six consecutive working days. The attacks left it unable to facilitate trading in shares, in its debt market, the Fonterra shareholders’ market and derivatives market, although participants remained able to conduct direct, negotiated trades. The NZX attack is typical of cyber-attacks against businesses which are becoming increasingly common...

The Privacy Act 2020: What Insurers Need to Know
MinterEllisonRuddWatts, October 2020

Businesses are operating in a world in which cyber threats are becoming more widespread (it is now a matter of when, not if) and individuals are increasingly prepared to act to protect their personal information or make claims if their privacy has been breached...

Court of Appeal upholds the High Court’s decision in Southern Response Earthquake Services Ltd v Dodds
MinterEllisonRuddWatts, October 2020

The Court of Appeal has upheld the High Court’s decision inSouthern Response v Dodds, which found that Southern Response induced the Dodds to settle their earthquake insurance claim by misrepresentations as to the cost to reinstate their home. This decision is significant for Southern Response insureds – many of whom settled their earthquake claims on abridged cost estimates provided to them by Southern Response...

Landmark UK Business Interruption Case
MinterEllisonRuddWatts, October 2020

In our previous edition of Cover to Cover, we discussed the various jurisdictions in which insurers’ approaches to business interruption cover following COVID-19 were being scrutinised. In the UK, the Financial Conduct Authority (FCA) initially worked together with insurance companies to aim to provide transparency and clarity in their existing policies for their insureds...

Focus on Myanmar - Finance & Loan Security Rights in Real Estate in the COVID-19 Era: 10 Key Q&As
DFDL, October 2020

Hot on the heels of our other two series which dealt with aviation and restructuring & insolvency, DFDL is proud to unveil the next Q&A series, this time on Real Estate and Banking & Finance issues throughout Southeast and South Asia. The first edition will focus on Myanmar...

Philippine Legislation in the Pipeline: Can Local Authorities Regulate the “Internet”?
SyCip Salazar Hernandez & Gatmaitan, October 2020

The electronic commerce industry is expected to expand by five to seven percent in the coming years while the streaming services business is also expected to exponentially grow, with more and more Filipinos opting to do their transactions online, as well as accessing Internet-based content and entertainment. Philippine authorities are inevitably focusing their regulatory gaze on these enterprises.  A...

PCC Issues Rules Implementing Section 4(eee) of Bayanihan 2 on the Transaction Value Threshold for the Exemption from Compulsory Notification
SyCip Salazar Hernandez & Gatmaitan, October 2020

The Philippine Competition Commission (PCC) has issued the rules for the implementation of Section 4(eee) of Republic Act No. 11494, the “Bayanihan to Recover as One Act” (Bayanihan 2)1 on October 5, 2020 and these rules (PCC Rules on Bayanihan 2) 2 were published, and thus became effective, from the same date...

SEC Issues Rules on Corporate Debt Vehicles
SyCip Salazar Hernandez & Gatmaitan, October 2020

 The Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 23, Series of 2020 (CDV Circular), dated August 18, 2020, which provides a regulatory framework for the creation and operation of Corporate Debt Vehicles (CDV). The circular aims to alleviate the adverse economic effects of the COVID-19 pandemic on large corporations and medium-sized enterprises by giving them another mode of raising capital through the intermediation of a mutual fund. 1...

PCC Issues Rules Implementing Section 4(eee) of Bayanihan 2 on the Transaction Value Threshold for the Exemption from Compulsory Notification
SyCip Salazar Hernandez & Gatmaitan, October 2020

 The Philippine Competition Commission (PCC) has issued the rules for the implementation of Section 4(eee) of Republic Act No. 11494, the “Bayanihan to Recover as One Act” (Bayanihan 2)1 on October 5, 2020 and these rules (PCC Rules on Bayanihan 2)2 were published, and thus became effective, from the same date...

Whether a Sub-Licensee of a Registered Industrial Design Owner has the Required Standing to Sue for Design Infringement
Shearn Delamore & Co., October 2020

A case note by Sim Sook Eng...

Make Working from Home Work - Employers’ Considerations for Remote Working
Shearn Delamore & Co., October 2020

In this article, Grace Chai Huey Yann explores common issues relating to remote working arrangements implemented by employers in response to the Covid-19 pandemic. Introduction The Covid-19 pandemic has caused unprecedented impact on businesses worldwide, especially when international borders are closed and various degrees of lockdown are introduced in response to the pandemic. Since the first quarter of this eventful year, virtual working has become the option for many employers...

PENJANA Short-Term Economic Recovery Plan: Incentives for Property Sector
Shearn Delamore & Co., October 2020

In this article, Tang Yen Yi examines the PENJANA Short-Term Economic Recovery Plan in relation to the property sector. During these unprecedented times of a global pandemic due to COVID-19, the Government of Malaysia announced the recovery plan for the country’s economy: PENJANA Short-Term Economic Recovery Plan (“PENJANA”).PENJANA includes plans to stimulate the economy with incentives for real estate transactions...

 

 

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