CMS recently released new regulations intended to curb the ability of a physician to earn a profit on either the technical component (TC) or professional component (PC) of tests ordered by the physician, but performed by another party. The regulation is effective January 1, 2008 and applies to all Medicare-covered diagnostic tests including imaging and anatomic pathology, but excluding clinical laboratory tests ...
Investors in Scottish commercial property have been warned that the sector may see a zero per cent rate of growth in 2008 as supply continues to outstrip demand.In comparison to the situation just 12 months ago, where there were ten buyers for every commercial property put on the market, now ten sellers exist for every purchaser, new research from industry consultants Drivers Jonas has revealed ...
Legal system1. What is the legal system (civil law, common law or a mixture of both)?Romania has a civil law system.Foreign investment2. Are there any restrictions on foreign investment (including authorisations required by central or local government)? There are only a few restrictions on foreign investment. For example, foreign persons cannot acquire land, subject to a limited number of conditional exceptions. 3 ...
Companies found guilty of manslaughter under new law could have their finances and reputations ruined. The Corporate Manslaughter and Corporate Homicide Act 2007 comes into force on 6 April 2008. After much controversy and delay the legislation is almost with us. In a nutshell: The Corporate Manslaughter and Corporate Homicide Act 2007 (the “Act”) comes into force in the UK on 6 April 2008 ...
Being the smartest lawyer in the room does not always guarantee success. Rather, success in the field of law almost always results from an attorney’s determination and dedication ...
Over a decade has elapsed since Bosman (a relatively unknown Belgian footballer but now a regular on the Question of Sport picture round) put EC free movement law firmly on the Match of the Day agenda. Over the ensuing years, the European Court of Justice and the European Commission have articulated (sort of…) clearly that sport does not benefit from some "white card" exemption to the application of EC free movement rules ...
A Georgia intermediate appellate court has affirmed summary judgment in favor of an insurer, holding that there can be no “advertising injury” coverage under a commercial general liability insurance contract where an underlying lawsuit concerning division of profits from a joint copyright work fails to allege a misappropriation of advertising ideas. James C. Shafe, et al. v. American States Insurance Co., No. A07A0879, 2007 Ga. App. LEXIS 1193 (Ga ...
The rule that a party receiving documents in litigation holds them subject to an implied undertaking to use them only in the proceedings in which they were produced has been a fixture of practice in British Columbia since 1995. However, while the rule is easy to state, it often proves more difficult to apply in practice and carries with it the potential for very serious sanctions for breach ...
On 18 October 2007, the Securities and Futures Commission (SFC) issued a circular which allows delegation of investment management functions by managers of authorised funds to affiliates not based in an Acceptable Inspection Regime (AIR), subject to certain requirements being met. Previously the fund management company of an SFC authorised fund, and all of its delegates with investment discretion, had to be based in Hong Kong or an AIR ...
This newsletter intends to provide our colleagues and friends with a rapid overview of the reforms that recently occurred in Portugal within commercial and corporate law, in respect of the debureaucratization of the treatment of commercial companies. I. ReformsThus, a substantial range of amendments has been implemented in the last years, with the purpose of simplifying the commercial companies’ incorporation, registration, merger, division, etc. procedures ...
IFLR Taiwan M&A SummaryJuly 20, 2007IntroductionAs Taiwan heads into an election year in 2008 and beyond, market observers may look back at the last 12 months as an important watershed period for the modernization of Taiwan’s financial sector. There is abundant and growing interest from foreign investors, particularly private equity investors, and mergers and acquisitions, together with other domestic and cross-border deal-making, are at an all time high ...
HIGH LIGHTS• the Code also applies to in-house counsel;• non-compliance may result in disciplinary sanctions;• failure to comply with the standards established by the Code could constitute civil wrongs or “faults” resulting in contractual liability (towards the employer) and even extracontractual liability (towards third parties with whom the lawyer negotiates on behalf of the organization);• concept of client: difference between the representative of the client or in-house c
When August turns to September, 2007, a new market called NewConnect will open on the Warsaw Stock Exchange (WSE). It will support the trading of shares of small and medium-sized companies. The expectation is that issuers entering this new market will not be large companies (of market capitalization around PLN 20–30 million and with a public offer value from PLN several hundred thousand to several million) ...
On July 11, 2007 the European Court of First Instance (“CFI”) ruled that Schneider Electric SA should be compensated for some of the losses suffered following the European Commission’s unlawful prohibition of its merger with Legrand SA in 2001.[2] The CFI’s decision is undoubtedly historic. It is the first case in which damages have been awarded against the Commission for getting a merger wrong ...
Most of the attention at this week's ASEAN foreign ministers meeting in Manila focused on the failure of ASEAN to reach a definitive approach on establishing a human rights body for the grouping. The proposed ASEAN Charter is supposed to address human rights concerns through this new entity. Perhaps given the diversity in governance standards among members, this was to be expected ...
On May 7th, 2007, the British Columbia Court of Appeal overturned the certification of a major pension class proceeding in Ruddell v. BC Rail Ltd., 2007 BCCA 269. In doing so, the court ruled that BC Rail had properly invoked its right to have the dispute determined by arbitration. The court found that, in the circumstances of this case, arbitration took precedence over the class proceeding, which had to be stayed ...
This paper will address the varying requirements for fair market value in transactions involving physicians and hospitals and other health care providers. The paper will first examine the Stark law and how and when transactions may satisfy Stark’s requirements for fair market value. Second, the use of fair market value for compliance with the federal Anti-Kickback statute will be addressed ...
On 6 February 2007, the State Council promulgated the Regulations for the Administration of Commercial Franchising Operations. Although not stated in the Regulations, the Ministry of Commerce (“MOFCOM”) has indicated that the Measures for the Administration of Commercial Franchising Operations, issued on 30 December 2004 (as discussed in the 2005.1 issue of China Legal Update), will be repealed on the Regulations’ effective date, 1 May 2007 ...
On 16 October 2006, the People’s Government of Guangzhou Municipality promulgated the Regulations of Guangzhou Municipality on Encouraging the Establishment of Headquarters and Regional Headquarters with Foreign Investment. The Regulations, which are effective for five years from the date of promulgation (i.e ...
The China Securities Regulatory Commission (“CSRC”) issued the Measures for the Administration of the Takeover of Listed Companies on 17 May 2006. Effective 1 September 2006, the Measures cover both takeovers and significant share acquisition activities in listed companies. The Measures apply to acquisitions by investors of listed companies. They impose disclosure and tender offer obligations upon investors crossing certain shareholding thresholds ...
The Ministry of Commerce issued the Provisional Measures on Tasks Related to Complaints from Foreign Investment Enterprises on 1 September 2006. Effective from 1 October 2006, the Measures establish a procedure pursuant to which foreign investment enterprises (FIEs) and foreign investors who feel their lawful rights have been infringed by an administrative agency may lodge a formal complaint ...
