Since the establishment of the Dubai International Financial Centre (DIFC) in late 2004, banks and other financial-service providers established or registered within the DIFC have been restricted to operating only in the wholesale market. From July 1, 2008 it has, however, been possible to provide financial services to retail customers in or from the DIFC. Initially, the DIFC was described as a wholesale financial-services environment ...
As reported in our September WortHReading, if you want to employ workers from outside the Economic European Area or Switzerland ("migrants") after 27 November don't forget that the new points-based immigration system will be up and running and you will need to become a licensed sponsor to do so. An employer without a sponsorship licence, but which employs migrants, will be acting illegally ...
In Chief Constable of West Yorkshire Police v Homer, Mr Homer argued that he could not obtain a degree in time to benefit from it financially before he retired aged 65, but younger employees would be able to and the policy was therefore indirectly discriminatory on the grounds of age ...
Bank Indonesia issued Regulation No. 10/7/PBI/2008 on 19 February 2008 regarding Offshore Loans of Non-bank Companies. Offshore loans are one of the key factors which may have positive and negative impacts on balance of payments, monetary stabilization and development continuity ...
After lengthy discussion, the Indonesian House of Representatives finally passed the Bill on Limited Liability Companies into law on the 23rd of July 2007 and it was then signed by the President on the 16th of August 2007 and enacted as Law No 40 of 2007 regarding Limited Liability Companies ("Law 40"). Law 40 revokes the previous limited liability companies law, ie Law No. 1 of 1995 regarding Limited Liability Companies ("Law 1") ...
Since 26 April 2007, Indonesia has had a new Investment Law, namely Law No. 25 of 2007 regarding Investment (“New Investment Law”). The New Investment Law replaces two old laws; ie Law No. 1 of 1967 regarding Foreign Investment, and Law No 6 of 1968 regarding Domestic Investment, both as amended. The New Investment Law accommodates both foreign and domestic investment ...
Latest Developments Although we have not witnessed any major legislative or policy changes during the last year, these seem to be forthcoming in 2009 as the Antimonopoly Committee of Ukraine (AMCU) developed draft amendment to the Competition Act 2001 introducing fundamental changes into national merger control regime ...
On June 17, 2008, the Supreme Court of Lithuania rendered a decision restricting the rights of the trademark owner to revoke his consent to use a trademark as a company name. In UAB Solvex Baltic v. UAB Scandihouse (Case No 3K-3-335/2008 (S)), the owner of the trademark SCANDIHOUSE petitioned the defendant to change its company name ...
With the UK economy continuing to be buffeted by the storm of the global financial crisis the effects are starting to be felt nearer to home in the "real" economy. For many businesses slashing costs is now a priority and, sadly, that often includes making staff redundant ...
Summary The Court of Appeal held that administrators were personally liable in costs for litigation in circumstances where a creditor challenged whether the purpose of administration could be achieved. The case highlights a number of important points for administrators and in particular the high standards expected of them following an appointment. Facts Joint administrators were appointed to Ulva Limited ("Ulva") by the sole director on 14 August 2007 ...
In this October edition of Pensions Bulletin we consider a recent Government paper on surplus payments and highlight that schemes must take action if they wish to preserve a power to pay surplus to a sponsoring employer in the future. We also comment on the impact of the latest developments in the Sea Containers case on the use of the Regulator's power to issue Financial Support Directions ...
Act No. 125/2008, Coll., on Transformations of Commercial Companies and Cooperatives, taking effect 1 July 2008, supersedes the existing regulation of intra-state transformations in the Commercial Code and newly regulates certain transformations with foreign elements, i.e. cross border mergers and transfer of assets to a foreign participant ...
"Shouldn't you be at work?" - sports presenter Des Lynam's famous words during the BBC's World Cup 98 coverage may well be repeated by many an employer over the next week or so. For as the Beijing Olympics reach a crescendo, businesses are once again facing up to the challenges posed by a major sporting event. But there are ways to ensure that the 29th Olympiad does not add to the headaches being suffered by credit-crunched employers ...
The increasing number of recalls of consumer products in recent years is indicative of a trend that has raised concerns for governmental authorities. In response, the Canadian government announced, on April 8, 2008, a reform of the existing legislation to strengthen the protection of human health and safety. The first step was the introduction of the Canada Consumer Product Safety Act (Bill C-52) and the second, the reform (Bill C-51) of the Food and Drugs Act (R.S.C ...
On July 17, 2008, the Supreme Court of Canada in Hydro-Québec v. Syndicat des employé-e-s de techniques professionnelles et de bureau d'Hydro-Québec, 2008 SCC 43 clarified that there are limits to the employer’s duty to accommodate ...
Driving is the most dangerous work activity that most people undertake. An average 20 people are killed and 250 seriously injured every week in crashes involving someone who was driving, riding or otherwise using the road for work purposes. Up to a third of road accidents involve someone who was driving at work. Health and safety law applies equally to on-the-road work activities, and the risks should be managed within an effective health and safety system ...
On 22 May 2008, the Court of Appeal handed down its judgment in Dŵr Cymru's appeal against part of the CAT's judgement in the long running Albion Water case [FOOTNOTE: Dŵr Cymru Cyfyngedig v Albion Water Limited [2008] EWCA Civ 536 and [2006] CAT 23 and [2006] CAT 36]. The main subject of that appeal was the correct interpretation of the law on the abuse of margin squeeze ...
One more lengthy battle in a legal saga has just come to an end. Indeed, on June 4, 2008, the Court, comprised of Quebec’s Chief Justice, Michel Robert, and Justices Jacques Chamberland and Louis Rochette, rendered a unanimous judgment.(1)To set the stage, consider a salmonella outbreak in Abitibi, some premature deaths, dozens of persons poisoned, three producing farms.. ...
A new Swedish Competition Act will enter into force on 1 November 2008. The Act was passed by parliament on 11 June 2008. The new legislation means further harmonisation with EC competition rules and it also introduces a number of new features in order to enhance cartel enforcement. One of the new features is the introduction of trading prohibitions. The rules regarding fines will become both clearer and stricter in an aim to enhance legal certainty ...
Supreme Court of Canada Considers Duty to MitigateMay an employer fire an employee without cause, and then avoid paying damages by offering him temporary work? ‘Yes, sometimes’ declared the Supreme Court of Canada in Evans v. Teamsters Local Union No. 31 in a 6-1 ruling released in May 2008.Background FactsMr. Evans worked as a business agent for the Teamsters for twenty-three years. He was dismissed following the election of new union leadership. Mr ...
In one of the first decisions in Quebec since the landmark Domtar case(1), the Québec Court of Appeal has refined the parameters of the liability of a professional vendor and of a manufacturer for a latent defect. In this case,(2), Joseph Élie Limitée (“Élie”) had sold an oil tank manufactured by Réservoirs d’acier Granby (“Granby”), and supplied the oil to its customer, who was insured by Federation Insurance Company of Canada (“Federation”) ...
In one of the first decisions in Quebec since the landmark Domtar case(1), the Québec Court of Appeal has refined the parameters of the liability of a professional vendor and of a manufacturer for a latent defect. In this case,(2), Joseph Élie Limitée (“Élie”) had sold an oil tank manufactured by Réservoirs d’acier Granby (“Granby”), and supplied the oil to its customer, who was insured by Federation Insurance Company of Canada (“Federation”) ...
On June 27, 2008, the Supreme Court of Canada (“SCC”) released its decision in Keays v. Honda Canada Inc. and overturned the decision of the Ontario Court of Appeal and narrowed the scope of Wallace damages for the “bad faith” manner of dismissal. This decision arises from a decision of the Ontario Superior Court of Justice which awarded $500,000 in punitive damages to a dismissed employee in addition to 24 months salary in lieu of notice ...
On 20 May the Government announced that it had agreed a deal between unions and employers that will see agency workers in the UK receive equal treatment after 12 weeks employment. Trade unions had been arguing strongly that agency workers should receive equal rights from day one. The CBI has calculated that because of the qualifying period up to half of all agency assignments will be unaffected ...
Until recently there was a significant amount of confusion and uncertainty on whether or not it is trade mark infringement for a search engine to allow certain 'keywords' to be sponsored by a third party who is not the trademark owner. The above scenario was encountered in the recent case of Wilson v Yahoo UK Limited where Mr Wilson was the owner of several Community trade marks under the name 'Mr Spicy' ...
