On May 6, 2009, the Belgian legislature amended the Belgian Competition Act. Most of the amendments are of a procedural nature and are of minor importance. However, the clarification of the prescription rules and the option of dismissing cases on policy grounds catch the eye. The amendments entered into force on May 29, 2009.The Belgian Competition Act was the subject-matter of a thorough reform in 2006 ...
Austrian law distinguishes between composition proceedings in accordance with the Composition Code (Ausgleichsordnung-AO) and bankruptcy proceedings in accordance with the Bankruptcy Code (Konkursordnung-KO). Bankruptcy proceedings have to be opened if the debtor is unable to pay. In particular, inability to pay must be assumed if the debtor suspends payments. Inability to pay does not require that creditors are actively seeking payment ...
On 1st January 1997, the Partnership Act 1996 (the Act) came into force in the BVI. It features two types of partnerships, the Limited Partnership and the General Partnership. The Limited Partnership is the most common one. In the Act, the Limited Partnership is defined as partnership formed by two or more persons with one or more General Partners and one or more Limited Partners ...
Since the introduction of Law 32 of 1927, the Law on Corporations of the Republic of Panama has remained virtually unchanged, serving both Panamanians and well as foreigners to put in order, protect and plan the transfer of their patrimony in an orderly fashion ...
In 2004, the Bahamas adopted the figure of the private foundation in what became the first attempt by a Common Law jurisdiction to integrate the vehicle, which has been traditionally associated with civil law jurisdictions. A foundation is the endowment of a patrimony for a specific purpose (object), which is set forth in the document that creates and internally organizes the foundation, called the foundation charter ...
In recent years parallel trade in the pharmaceutical sector has been a hot topic. On September 16 2008 the European Court of Justice published its eagerly anticipated judgment on the refusal to supply by dominant pharmaceutical companies in the Syfait II Case. Recently, the Belgian competition authorities have also addressed this subject when dismissing an appeal by Bofar, an exporter of pharmaceutical products ...
In early 2008, 'green computing' and the idea that companies were going to need to implement new measures to improve their green credentials was one of the hot topics in IT. You might have been forgiven for thinking that environmental concern would be among the first casualties of the credit crunch and the resulting recession ...
1- What is the structure of the civil court system? The Portuguese judicial system is complex and the competence of each type of court is defined considering the nature of the dispute to be settled. The main division established is between judicial jurisdiction and administrative and tax jurisdiction. The territory is divided for judicial purposes and normally each municipality has its own judicial court with generic competence ...
1. The court system What is the structure of the civil court system? In Italy there are three levels of courts: first-instance courts (justices of the peace and tribunals); second-instance courts (courts of appeal for judgments rendered by tribunals, and tribunals for judgments rendered by justices of the peace); and the Court of Cassation (Supreme Court) ...
Technical Resolution 26 – FACPCE Dated March 20, 2009 the FACPCE (Argentine Federation of Economic Sciences Professional Boards) approved Technical Resolution No. 26 “Adoption of the International Financial Reporting Standards of the Board” effective as from the years commenced after January 1st, 2011, not admitting an earlier application ...
Virtually every business has some sort of website or presence on the internet, and it is often an integral part of the business. At the same time, many organisations use bespoke or customised software internally on a day-to-day basis, and undoubtedly attribute significant value to these assets, not least because the development of them probably required a significant investment via a third party developer providing the software ...
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) ...
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 ...
Software is part of the day-to-day fabric for most companies. And almost everyone who uses it does so with little or no thought about what happens should it fail, or if it is no longer available. However, the prudent software buyer will consider how to protect against failure of critical or bespoke software, which is where escrow may come in. Be warned, though ...
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 ...
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 ...
With the credit crunch likely to affect every aspect of the global economy, the prospect of declining revenue threatens to erode the profitability of many businesses. So the challenge is to preserve cash and cut costs. But how does this affect IT? Cutting back on IT projects is not necessarily an option. Software is the engine of the modern enterprise. Indeed, for many organisations it is their primary source of competitive advantage ...
What is spamdexing? The Internet contains a lot of information. In 2002, the total number of web pages was estimated at 2.024 million; by 2005 this estimate had risen to 11.5 billion2. The ever- increasing amount of information found on the Internet also has disadvantages. In this jungle of information, it is getting harder and harder to see the wood for the trees ...
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 ...
