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 ...
In this long running case, the Court of Appeal has granted Dwr Cymru (on 26 July) leave to appeal the Competition Appeal Tribunal's (the CAT) finding that Dwr Cymru had abused its dominant position by setting an access charge that resulted in a margin squeeze on Albion Water (Albion). The Court of Appeal is due to hear the case later this year ...
DEALING WITH MINING LEGACY – SOME CANADIAN APPROACHES(1)1. INTRODUCTIONIn this paper we discuss approaches that have been used in Canada to identify and foster private sector, public and aboriginal participation in dealing with mining environmental liabilities and orphan sites(2) ...
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 ...
The Current Mineral Licensing Regime in Nigeria
The European Commission has published its report outlining its proposed changes to the European energy market.In order to open the continent's gas and electricity markets up to greater competition, the Commission has proposed the separation of energy suppliers and producers, a move which would see the break up of firms such as E.ON and Electricite de France ...
The global biofuels industry needs to be better regulated to ensure it does not harm the environment, the UK's climate change minister has stated.Speaking at a recent conference organised by Britain's Renewable Eneregy Association, Phil Woolas MP cited several studies which have shown that biofuel production has led to deforestation and increased house prices in some areas of the world, most notably across Asia ...
Ofgem announced last week that it is delaying its decision on proposals relating to transmission losses. The gas and electricity market regulator's previous statement that it favours one of several proposals before it on this subject has caused considerable consternation among commentators in Scotland ...
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
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 ...
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 ...
The Federal Court of Canada recently released its decision in Ahousaht First Nation v. Canada (Fisheries and Oceans)(1). The case considered an application by 14 First Nations represented by the Nuu-chah-nulth Tribal Council (“NTC”) for judicial review of a decision of the Minister of Fisheries and Oceans regarding the implementation of a commercial groundfish pilot plan on the British Columbia coast (the “Pilot Plan”) ...
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 ...
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 ...
A director should seriously consider resigning in the following situations:• in the case of a material contravention of the law or violation of the corporation’s by-laws, its shareholders agreement or the corporation’s undertakings, if the contravention is not rectified promptly;• in the case of bankruptcy or insolvency, if the director is unable to obtain adequate protection from the trustee, the corporation’s creditors or other third parties;• if the corporation or the Boar
Private Actions in Competition Law: Effective Redress for Consumers and BusinessResponse by Shepherd and Wedderburn LLP1. Introduction1.1 Shepherd and Wedderburn LLP welcomes the opportunity to comment on the issues raised by the OFT in its April 2007 Discussion Paper: Private Actions in Competition law: Effective Redress for Consumers and Business (the Discussion Paper). 1 ...
Ten years ago, we would not have been discussing this topic with the Chairman of the then Monopolies and Mergers Commission. Ten years ago, the MMC was a very different animal from today's Competition Commission. Ten years ago, the MMC was largely outside of the daily media spotlight, less transparent and much closer to government ...
Romania¡¦s yearly economic growth has triggered in the past few years an increased interest for investment in the existing domestic companies. Most of the financial investors seek to leverage their acquisitions and expect the possibility to use the target companies¡¦ assets to such purpose. This article will briefly review corporate limits and prevailing interpretation.Prohibition of financial assistanceRomania has implemented the provisions of art ...
Several of the currently producing oil fields in the United States have been producing for approximately one hundred years while many other fields have long since ceased production having reached the end of their economic life. As the domestic oil and gas industry matures and many of the once productive fields become depleted, the industry faces what is arguably its most significant challenge ...
In this article, the authors address state-level law on water use and its possible effect on land use decisions. They then examine how federal water-related laws are increasingly impacting land use. Land use regulation, particularly zoning, has traditionally been considered a matter to be handled not by state or federal government but by local government— towns and counties ...
The purpose of this article is to provide a short update as to the legal and policy developments in the area of private enforcement of competition law. Regulatory scrutiny and judicial developments continue to be principally focussed on the issue of follow-on damages actions for infringements of competition law, especially in the cartel arena. However, as can be seen in the English High Court's recent judgement in SanDisk Corporation vs ...
The European Commission's January report on the energy sector competition made uncomfortable reading for the European Union's Council of Energy Ministers, who were presented with it in February and considered its proposals at the EU summit in March.The clear message from the Commission is gas and electricity is too expensive ...
In a previous article on this site , I suggested that the impact of Placanica was to leave the national courts in a bit of a hole ...
