The election of Mr. Donald J. Trump as President of the United States has resulted in much consideration by corporates of existing strategies with respect to Iran. Mr. Trump’s lack of experience in public office and some of his election campaign statements continue to cause anxiety. Will Mr ...
November 2016: In the recent Singapore High Court decision of The Enterprise Fund II Ltd v JongHee Sen [2016] SGHC 259, Judicial Commissioner Hoo Sheau Peng (the "Judge") considered whether “withoutprejudice” privilege ("WP Privilege")applied to certain communications between the parties and, consequently,whether those communications could be received into evidence ...
On December 22, 2016, in Augustus v. ABM Security Services, Inc., Case No. S224853, the California Supreme Court issued a split decision on rest periods. In a decision in which four justices concurred, and two concurred and dissented, in part, the Court held that employers “must relieve their employees of all duties and relinquish any control over how employees spend their break time ...
Effective January 1, 2017, new rules will govern the taxation of mutual fund corporations structured as ?switch funds?. Investors switching between funds will no longer be able to do so without incurring taxable capital gains. This article summarizes the impact of such changes. Description of "switch funds" under the current regime In Canada, most mutual funds are structured as trusts and some are structured as corporations (referred to as ?corporate class funds?) ...
A federal appeals court has rejected two challenges to the environmental review of the Los Angeles County Metropolitan Transportation Authority's (Metro's) planned subway expansion in Downtown Los Angeles. The "Regional Connector" project, approved in 2012, will create a three-station, underground link through Downtown that will allow passengers to travel from points on the Metro Gold Line to the Blue and Expo lines without having to transfer trains ...
The November 2016 issue of the Asian Legal Business (ALB) includes a regional update article entitled “Evidentiary Issues in Arbitration”, contributed by SyCipLaw Partner Ramon G. Songco and Associate Arvin Kristopher A. Razon. The article enumerated and discussed the laws that aimed to address concerns in resolving disputes in arbitration, such as how evidence is presented, assessed for relevance and competence, and protected during arbitration proceedings ...
Although neither of the parties objects to solving the dispute in the state court, the Supreme Court of Lithuania sends the parties to arbitration after it discovers a prior written agreement to arbitrate. The issuer of a promissory note (Claimant) requested the state court to declare the promissory note null and void ...
Article 257 of the UAE Penal Code (Federal Law No. 3 of 1987) was recently amended by Federal Law No. 7 of 2016 to introduce the concept of criminal liability for arbitrators, experts, and translators who issue decisions and opinions ‘contrary to the duties of impartiality and honesty’ ...
Trade mark law may be contained in statutes, but judges are the ones who interpret the statutes. Judges are also the ones who eventually decide whether one trade mark is confusingly similar to another. It is these factors that make the “Question the Trade Mark Judges” event that recently took place at University College London so fascinating for anyone interested in trade marks ...
Much has been written regarding the enforcement of foreign arbitral awards in China, but relatively little consideration is given to the treatment in U.S. courts of awards entered by the China International Economic and Trade Arbitration Commission (CIETAC), or to the enforcement of CIETAC arbitration agreements. In fact, CIETAC arbitral awards are rejected by U.S ...
Over the summer, several European blue chips, certain Fortune 500s and major Asian corporates accelerated their entry strategy for Iran. Some are investing in Iran pursuant to the Foreign Investment Promotion and Protection Act 2002 (“FIPPA”), which, amongst other things, provides a sovereign guarantee from the Iranian government ...
Arbitral institutions strive to provide the parties they serve with a fair and impartial dispute resolution process that results in an unassailable final award. Since “evident partiality” in the arbitrators is one of the limited means to attack an award, the selection of unbiased arbitrators is fundamental to that goal, and most arbitral institutions have some requirement or guidance on arbitrator disclosures ...
Africa Tax in Brief Ethiopia: Treaty and amending protocol with the Netherlands enter into force The Ethiopia-Netherlands Income Tax Treaty, 2012 and the exchange of notes, signed on 10 August 2012, entered into force on 1 September 2016, and the amending protocol to the treaty, signed on 18 August 2014, will enter into force on 30 September 2016. The exchange of notes generally applies from 1 September 2016 ...
On August 28, 2016, the Israeli District Court of the Central District issued a decision regarding the right of publicity under Israeli Law (In re Fundacio Gala Salvador Dali v. V.S Marketing (Israel 2005) Ltd.). The right of publicity is the right of a person to financially exploit his name, picture or voice ...
Acceleration clauses are commonly found in loan agreements that require debtors to make repayment in instalments. A standard acceleration clause provides that if a debtor fails to pay an instalment, the creditor may elect to terminate the loan agreement and demand payment of the full amount owing under the agreement ...
The Second Eastern Economic Forum was held on 2nd and 3rd December in Vladivostok. The participants presented various investment projects ready for implementation. On 3rd September Maxim Alekseev, ALRUD Law Firm Senior Partner, participated in Russia-ASEAN session. Its primary topic was discussion of the declaration on main areas of cooperation between Russia and ASEAN adopted on Russia-ASEAN summit held in Sochi on 19-20 May, 2016 ...
As we explained previously, in April 2016 the Second Appellate District held that California’s Fair Employment and Housing Act (FEHA) creates a separate duty to provide reasonable accommodation to an applicant or employee who is “associated” with a disabled person. On rehearing of the Castro-Ramirez v. Dependable Highway Express, Inc. decision (Case No. B261165, B262524), the Court has retreated from its prior holding ...
TAXATION TAX ON IMMOVABLE PROPERTY PAYMENT FOR 2016 Notifications No. 12723 dated 5 August 2016 & No. 13466 dated 16 August 2016 Per Notification No. 12723, the General Department of Taxation (“GDT”) informs owners of immovable property (“Property”) which is subject to the Immovable Property Tax (“IPT”) to pay the IPT to the tax authorities by 30 September 2016. Late payment of IPT is subject to penalty ...
Corruption is a scourge which transcends frontiers. In response to this situation, Canada has chosen to pass the Corruption of Foreign Public Officials Act (hereinafter referred to as the "CFPOA") in 1998, then reinforced the regime thereof more recently. The difficulty with this Act lies in the fact that the offences must have been committed abroad. International cooperation thus remains essential to its application. The difficulties related to the transnational nature of corruption are real ...
Over the past few months the issue of offshore jurisdictions and the role they play in the global economy has come under extreme scrutiny, especially from onshore governments seeking to increase tax revenues. The recent Panama Papers Leak has only served to fuel the flame and has resulted in more people who know very little or nothing at all about offshore jurisdictions calling for their demise ...
African Union: Import tax introduced At its 27th summit recently held in Rwanda, the African Union (“AU”) decided to implement an import tax of 0.2% to be charged on all imports of goods (excluding basic necessities) in each member state. It is expected that EUR1-billion will be collected through this tax, making the AU financially autonomous. Morocco, the only African country currently not a member of the AU, is in the process of being reintegrated into the AU ...
Streets named after a country’s heroes and heroines can be a hotly contested and emotive issue, especially in a country such as South Africa, with its colonial and apartheid past. This was illustrated in the recent Constitutional Court case of City of Tshwane Metropolitan Municipality v AfriForum and Another (the “AfriForum case”), which not only dealt with this sensitive topic, but also clarified an important legal issue – whether an interim interdict can be appealed ...
ANGOLA: Securities Code Regulations enacted The Securities Code Regulation (Regulation No. 6/16) (the "Regulation") was approved by the Council of Administration of the Capital Market Commission and gazetted on 7 June 2016. The Regulation contains the organisation rules and administrative requirements for open companies and other issuers of securities admitted to trading in regulated markets ...
On July 5, 2016 the Chilean Congress enacted Law No. 20,931 (“Anti-crime Agenda”), strengthening the prosecution of robbery, burglary, theft and willfully or negligently receiving or possessing stolen goods. The Chilean Criminal Code sanctions any individual who knowingly or negligently possesses, transports, buys, converts or trades goods proceeding from theft, robbery, embezzlement and/or cattle theft. Negligent behavior can also be prosecuted ...
