The loan agreement secured by mortgage is a legal and financial concept that has undoubtedly been a pillar of world economic progress. Hence, the Supreme Court of Justice of Panama in some of its judgments has given it its importance as part of the economic public order ...
When auditing annual financial statements, auditors are required to draw attention to risks that potentially threaten the company. Such risks can result for example from failure to implement the EU General Data Protection Regulation (GDPR) that has been in force since May 25, 2018. Given the substantial fines envisaged in the GDPR, these risks can result in high provisions, in the worst case in refusal on the part of the auditor to issue an unqualified audit opinion ...
News of a new federal law on foreign direct investment in the UAE has many people asking: “Does this mean I can now form a new company with majority foreign ownership?” The answer is the same as previously, “No, not yet”. Companies incorporated in the UAE require a minimum of 51 percent UAE ownership. As an exception to this rule, 100 percent foreign ownership is permitted in free zones. The new law may lead to further exceptions in the future ...
The introduction of the e-hailing system had changed the landscape of public transport in Malaysia and, at the same time, intensified the competition in the taxi industry. Whilst the taxi industry was subject to specific regulatory requirements there was previously no express law to regulate the operation of the e-hailing system ...
“Tax investigation” entails an examination of a taxpayer’s business books, records, and documents as well as his personal documents to ensure that the correct amount of income is reported and tax is calculated as well as paid by the taxpayer ...
The Valuers, Appraisers and Estate Agents (Amendment) Act 2017 “Amendment Act”. The Act amended the Valuers, Appraisers and Estate Agents Act 1981 “Principal Act”. The Amendment Act Prior to coming into force of the Amendment Act, only a registered valuer, appraiser or estate agent duly authorized by the Board of Valuers, Appraisers and Estate Agents (as it was then known) was permitted to undertake property management ...
In the last quarter of 2018, the Department of Labor (DOL) issued an opinion letter ending what had become known as the “80/20 rule” for tipped employees. The new rule, which eases restrictions on an employer’s application of the tip credit, is a reissuance of a 2009 opinion letter that had been supplanted by contrary guidance since 2011 ...
What Does it All Mean? With the new Democratic House majority and Republicans maintaining control of the Senate, Washington, D.C., now enters a period of divided government in the run up to the 2020 presidential election. Democrats and Republicans, including President Trump, will have to compromise on a budget and impending debt limit and sequestration, as well as spending levels for the coming fiscal years in order to avoid a government shutdown ...
Companies wanting to do good through corporate social responsibility (CSR) initiatives face a quandary: how to ensure their aid is going where it is needed most. [Editor’s note: Last month, our firm was honoured to have won the President’s Volunteerism and Philanthropy Awards (PVPA) in the Small and Medium Enterprises category ...
Article PDF On October 19, 2018, the Treasury Department released proposed regulations regarding certain aspects of the new qualified opportunity funds ("QOF") and related qualified opportunity zones ...
Earlier this week, the UK Cryptoassets Taskforce published its Final Report on cryptoassets and distributed ledger technology (DLT). The Taskforce – which includes representatives from HM Treasury, the UK Financial Conduct Authority (FCA) and the Bank of England – was established in March 2018 to analyse and assess the risks and potential benefits of cryptoassets and DLT and “set out the path forward with respect to regulation [of these areas] in the UK” ...
Governor Brown signed into law a number of bills, which significantly impact employers. Unless otherwise indicated, each new law takes effect the begining of 2019. For an in-depth analysis of how each law might affect your organization, contact one of Hanson Bridgett's experienced labor and employment lawyers ...
For decades, banks and other counterparties in the UAE have obtained financial services from foreign financial institutions. Industry bodies, such as the International Swaps and Derivatives Association (ISDA), the International Capital Market Association and the International Securities Lending Association, have developed standard documentation for these kinds of transactions ...
Launch of the New Rental Good Conduct Certificate Service On 8 October, the Rental Disputes Centre in Dubai launched the Rental Good Conduct Certificate service. This service is a first-of-its-kind initiative in the world. We set out below what the service will provide and how to access it ...
In Haberdashers’ Aske’s Federation Trust Ltd v Lakehouse Contracts Ltd [2018] EWHC 558 (TCC), England’s Technology and Construction Court had to decide on the extent of coverage (or inclusion) of a project insurance policy for a construction project and how that coverage was affected by a sub-contractor having its own insurance cover ...
Recently, California legislators passed SB 954 creating a new pre-mediation requirement – the prospective Mediation Disclosure. "As soon as reasonably possible" before agreeing to mediate, attorneys are to present to clients a Mediation Disclosure affirmatively explaining mediation's confidentiality restrictions, execution of which acknowledges the client's understanding of the restriction's impact ...
Cryptocurrencies have captured the imaginations of individuals and emerging businesses drawn to their potential to serve as alternative stores of value, to reduce transaction costs by eliminating intermediaries. Most notably in popular culture and media - to provide eye-catching opportunities for speculative investing ...
To coincide with its 250th anniversary, Shepherd and Wedderburn commissioned the University of Strathclyde’s Fraser of Allander Institute to consider the future challenges and, more importantly, opportunities for Scotland’s economy ...
The Scottish financial sector has always punched above its weight due, in large part, to its appetite for innovation and sharp business acumen, which it has successfully exported around the globe. The successful early establishment in Scotland of current account banking and the investment trust speak to this, along with the undisputed influence of the Scottish diaspora, which established many of the great financial institutions from Paris to Hong Kong ...
Impact of Trump Administration, Midterm Elections and the Rise of Automotive M&ARespondents to Dykema’s 14th Annual M&A Outlook Survey expressed the highest level of optimism for the M&A market in the 14-year history of the firm’s survey. Sixty-five percent of respondents expect the M&A market to strengthen over the next 12 months, significantly up from the mid- to high 30s where it has remained for the past several years ...
Destruction of evidence can be fatal in any lawsuit, but it is especially troubling in construction defect disputes. It's always important to allow an opponent and their expert the opportunity to inspect premises and review the alleged defects. A recent Pennsylvania appellate decision highlights the need to do more than just allow a site visit in a defect case. It also drives home the need for clients to advise counsel of any repairs or changes to work at issue in a lawsuit ...
With an estimated economic growth of 5.1% – 5.2% for 20181, economicactivities in Indonesia are expected to show a strong improvement. One ofthe indications of strong economic activities is the growing need for officespace for businesses. It is expected that office space in Jakarta will increaseby another 1.5 million square meters in 2018 – 20202 from 6 million squaremeters at the end of 20173 ...
On October 3, 2018, the IRS issued guidance for employers on how to claim tax deductions for business meals this year. Under the Tax Cuts and Jobs Act, ("TCJA") business expenses for "entertainment" are no longer deductible, effective for 2018. However, the TCJA did not modify the separate 50% deduction for expenses for business meals, which left employers wondering how to distinguish a business meal from entertainment ...
Many companies are currently facing challenges in relation to the GDPR compliance of their video surveillance. Main issues in this respect are questions related to transparency requirements and information notices, the need for a data protection impact assessment as well as questions concerning retention requirements and retention periods. The German Federal Labor Court (BAG) has recently commented on the admissible storage duration of lawful video recordings ...
