Selecting the right property for your business is vital for success, and likely to be your biggest expense after staffing costs. So in the current market, flexible office space may be a wise alternative to a traditional leasing commitment.Three principal models are available: serviced offices, ‘drop-in offices', and virtual offices ...
IntroductionThe Act of 31 January 2009 on the Continuity of Enterprises entered into force on 1 April 2009 (the “Act”). The disappointing results of the Act of 17 July 1997 on Judicial Composition Proceedings (‘gerechtelijk akkoord’ / ‘concordat judiciaire’) led the Belgian legislature to reform the framework of measures available to undertakings encountering (financial) difficulties (of the type where Chapter 11 is used in the USA) ...
The new forms for reducing the amount of corporate income (IRC) tax to be withheld (MOD. 01-DJR) and for the partial refund of IRC (MOD. 02-DJR) withheld on the payment of interest and royalties between associate companies from different European Union Member- States under the Interest and Royalties Directive were approved in February ...
In two recently published decisions, the College of Prosecutors (‘Auditorat’) ruled on requests for interim measures from Belgian Posters and Clear Channel against the granting by the Brussels-Capital Region of a public tender contract to JC Decaux (‘JCD’). Belgian Posters and Clear Channel claimed that JCD had a dominant position (or even a monopoly) in the market for theprovision of so-called ‘urban advertisement furniture' (e.g ...
Whether you are interested in purchasing assets or a going concern, bankruptcy court can be a land of opportunity. Assets may be sold by a trustee, or someone the trustee retains, in a Chapter 7 liquidation, or by a Debtor-in-Possession (a “DIP”) in a Chapter 11 reorganization case. In either case, you should expect a competitive bidding process ...
The codification of directors' duties under the Companies Act 2006 has brought directors' exposure to liability into sharp focus. This, along with extended rules on corporate governance, recent legislation, and increased shareholder awareness, means directors must evaluate the liability protection that is available to them. A company cannot, of course, indemnify directors against their own wrongdoing ...
Contents Can an employer trim its costs by changing one element of its employees’ remuneration ? Entering the “Zone of Insolvency“ - What to do ? Ecomonic slowdown - Some concrete financing indications and how to react CAN AN EMPLOYER TRIM ITS COSTS BY CHANGING ONE ELEMENT OF ITS EMPLOYEES’ REMUNERATION ? Valérie Korozs vkorozs@lavery ...
Basic Legal Aspects Portugal is a member of the European Union since 1986, being integrated in the Euro-Zone since its implementation. Hence, its national law, notably its business law, is in line with the European applicable common norms, namely those deriving of the freedom of establishment of undertakings. rights ...
A Foreign Company ("FC") is subject to Swedish taxation on income from a permanent establishment ("PE") in Sweden. Today, different types of tolling arrangements are part of the business model of many MNE’s. The purpose of this article is to analyze the Swedish tax implications of a tolling arrangement, primarily the risk of a FC to acquire a PE in Sweden. The below example can be used in order to illustrate the PE issues at hand ...
Carmen Verdonck and Stefanie Vyncke wrote the chapter onBelgian Law in the 2009 edition of 'Getting The Deal Through: VerticalAgreements'. This updated edition examines the regulation of distribution practices in jurisdictions worldwide.Antitrust law1 ...
auto">On January 25, 2009, a new Bolivian constitution was approved by binding referendum. This new text comprises the seventeenth constitution enacted during the country’s 184 years of republican life. The new constitution brings forth a whole new system of government with changes both of form and substance ...
Indonesia has been described as one of the most corrupt countries in the world. In 2008, the Transparency International Corruption Perception Index stated that Indonesia ranked 130th least transparent out of 180 countries. However, the continued existence of the Corruption Court in Indonesia which has tried many corruption cases and is trying to improve Indonesia’s anti corruption activities, is now under threat ...
Lavery, de Billy makes its mark with a new brand and new firm signature: Lavery, Law Business. The new “Lavery” brand and “Lavery, Law Business” signature are a reflection of the firm’s personality ...
Commission adopts temporary State aid 'credit crunch' framework The European Commission has adopted a temporary state aid framework, designed to help tackle the spiralling negative effects of the 'credit crunch' on the real economy. Under the framework, Member States can - after notifying the Commission - put into effect a range of aid schemes aimed at helping otherwise sound companies that are finding it difficult to access funding ...
Many companies’s apply employment terms – either in a general commission plan or in the individual employment contract – which can entail major unforeseen costs in the form of retroactive claims from employees for holiday pay or pension payments. There are certain differences in judgement between companies which are bound by collective bargaining agreements and those companies which are not ...
Important changes in, inter alia, the Rights of Priority Act (Sw. förmånsrättslagen) entered into effect on 1 January 2009. For example, it becomes possible to use personal property of the business as collateral security for loans in businesses. Elisabeth Söderholm, associate at Delphi Lawfirm, Gothenburg, reports on the new rules ...
A new act on a European order for payment procedure has entered into force. The new rules are based on an EC regulation and apply side by side with the Swedish procedure for order for payments. The difference is that the European order for payment procedure applies in cross-border cases, i.e. when the claimant and the alleged debtor live in different member states ...
In the current market, it is important that creditors and debtors in difficult financial circumstances exploit the opportunities offered by corporate recovery. Delphi’s corporate recovery group mainly advises lenders and creditors, but also shareholders, boards and management teams ...
Effective January 1, 2009, the rules governing the right to obtain tax registration as a self-employed business person has been changed. Thus, it is now possible for non-executive directors to obtain registration as such. The amendments are made by clarifying the term "business". This is achieved by introducing additional criteria when assessing whether an independently conducted business is at hand or not ...
In June 2008 the Protection of Trade Secrets Committee, presented to Beatrice Ask, the Swedish minister of justice, their findings, Enhanced protection for trade secrets, SOU 2008:63. Delphi’s Henrik Bengtsson was an expert on the committee. Since the Act (1990:409) on the Protection of Trade Secrets (TSA) came into force almost twenty years ago, the conditions for enterprise have changed in many ways ...
It has now been clarified that a consultancy, which is not itself active on a certain market, can be found guilty of participation in an anti-competitive cooperation. This was decided by the Court of First Instance in a judgment from 8 July, 2008, T-99/04, AC-Treuhand AG v the European Commission. The judgment is unique in that it is the first time this principle has been upheld in any of the community courts ...
On 1 November 2008, a number of major changes were introduced to the Swedish code of judicial procedure, the law that regulates legal proceedings in court. The majority of the changes are aimed at speeding up the proceedings with the aim that the state will save costs for the legal system. The changes are referred to as "A more modern trial" in the committee report ...
