BackgroundSection 466(1)(a) of the Companies Act 2016 (“CA 2016”) provides that a company is deemed unable to pay its debts if it is indebted in a sum exceeding an amount prescribed and neglects to pay the sums stipulated in the notice of demand within 21 days of being served with the said notice.Through the issuance of the Prescription of Amount of Indebtedness of Company published on 26 January 2017 (“2017 Threshold Order”), this amount was fixed at RM10,000 ...
Key issues The EU Insolvency Regulation has ceased to apply to the UK The English court acquires new grounds for jurisdiction under the EU EXIT Regulations Insolvency proceedings opened in an EU Member State may be recognised by the UK courts based on the UNCITRAL Model Law Cross-border insolvencies between the EU and the UK will likely become more time consuming, complex and expensive Recognition of UK scheme of arrangements is subject to the Hague Choice of Court Convention or t
The outlook for the year ahead is uncertain with the effects of post-Brexit rules to contend with and COVID-19 continuing to restrict the way we live and work. We look at what the year may have in store for the construction industry. COVID-19 There is no doubt that the pandemic has caused challenges for the construction industry and is likely to have a significant impact into 2021 ...
This article forms part of our ‘New How: Perspectives’ report: ‘Home Working not the Panacea’. To access this free report, please click on the download link to the right of this page. Home. Noun. Meaning: “The place where one lives permanently, especially as a member of a family or household.” Not any longer. Home is now also where many of us work ...
The United States’ Centers for Disease Control and Prevention (CDC) has issued an order that will take effect on January 26, 2021, requiring all arriving international airline passengers to provide proof of a negative COVID test taken within three days of the flight’s foreign departure. For those who have had it, the CDC will require proof of recovery ...
If parents cannot agree whether their children should be vaccinated, they can make an application under Section 8 of the Children Act 1989 to ask a judge to determine the issue. In M v H (Private Law Vaccination) [2020], the mother objected to the parties' two children aged six-years-old and four-years-old being given routine childhood vaccines in accordance with the NHS vaccination schedule ...
Although the start of 2020 also shook up the M&A world, the market recovered especially in the second half of the year. At Van Doorne, the M&A specialists experienced this in the number of transactions: 32 of them. This puts the firm in 8th place in the Mergermarket Benelux League Table, based on the number of deals. In 2020, in Europe almost $850 billion was spent on a total of 6,658 transactions. This is an increase of 5.6% compared to 2019 ...
This is a summary of the Annual Report. Click here to access the full guide. The 2020 proxy season shareholder proposals were already submitted before the COVID-19 shadow loomed large over the season; however, such shadow likely impacted how shareholders voted on the proposals themselves, impacted business throughout 2020, and continues to jolt 2021 and the forthcoming 2021 proxy season ...
On Nov. 20, 2020, the Department of Health and Human Services (HHS) Office of Inspector General (OIG) and the Centers for Medicare and Medicaid Services (CMS) issued two final rules, which implement changes to the Anti-Kickback Statute (AKS) and Physician Self-Referral Law (Stark Law) regulations (respectively the OIG Final Rule and the CMS Final Rule, collectively the Final Rules) ...
In Changfeng Shipping Holdings Limited v Sinoriches Enterprises Co., Limited HCCT 59/2019; [2020] HKCFI 2703, the Hong Kong Court of First Instance laid down the principles applicable to service out of the jurisdiction of examination orders on officers of corporate judgment debtors pursuant to Order 48 rule 1 and Order 11 rule 9(4) of the Rules of the High Court (Cap. 4A) (RHC) ...
New Sub-Decrees on Construction Permits, Conditions & Procedures on the Issuance, Suspension & Revocation of Certificate of Occupancy, and Conditions & Procedures on Construction Certification New Sub-Decree on Construction Permits Following adoption of the Law on Construction dated 2 November 2019 (“Construction Law”), the Royal Government of Cambodia issued new Sub-Decree No. 224 ANKr ...
To boost the economy post-Brexit the government is committed to establishing up to 10 freeports across the UK and published a bidding prospectus at the end of last year. In our bitesize articles we provide a high-level overview of some of the key considerations if you are planning to participate in a bid and/or are considering the potential benefits of locating (or relocating) all or part of your business within a freeport (when established) ...
The Court of Protection is a specialist Court, focussing solely on supporting vulnerable individuals. This past year has acutely highlighted the needs of those most vulnerable in our society and their dependency on others to help manage their affairs. The Court has had to adjust its practices in order to ensure that help and solutions are found for those lacking capacity with minimal delay ...
If 2020 has taught us anything, it’s that no one can predict the future. But as we start 2021, we look at some of the legislative changes impacting real estate and expected to come into force, or be progressed, this year. Residential With Brexit concluded and the prospect of vaccinations bringing the Coronavirus pandemic under control, the government is keen to pursue its agenda of levelling up the country ...
How does one resolve a dispute involving thousands of individual items where it is impractical to deal separately with each one? A recent decision in the Technology and Construction Court provides some guidance - but raises further questions. The case is Standard Life Assurance Limited v Gleeds (UK)(a firm) and Others (December 2020, TCC). Standard Life had engaged Costain as its main contractor for the development of a large residential and retail development in Berkshire ...
On November 27, 2020, mainland China and the Hong Kong Special Administrative Region (“HKSAR”) signed the Supplemental Arrangement Concerning Mutual Enforcement of Arbitral Awards between the Mainland and the Hong Kong Special Administrative Region (the “Supplemental Arrangement”) ...
The State of Ohio Board of Pharmacy (OBP) is required to adopt a resolution specifying the required types of credentials for the responsible person of each business type of (i) terminal distributors of dangerous drugs and (ii) distributor of dangerous drugs. Only individuals who meet the credentials specified may be the responsible person for that type of business. On Jan ...
A recent court of appeal decision has definitively clarified the test for assessing the enforceability of liquidated damages clauses in Singapore. Contracting parties intending to incorporate liquidated damages clauses must be mindful of the type of damages that may be recovered in the event of default, especially when exercising a contractual right to terminate the contract ...
The March 2020 Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains a number of provisions that help borrowers with federally backed mortgage loans. Among these are forbearance protections for borrowers with single-family loans and multifamily loans. However, only one of the forbearance provisions has a clearly defined period when the rights are available ...
In this article, Gan Shao Qi discusses some of the recent measures announced to facilitate fund raising by listed issuers through a rights issue in Malaysia to assist companies and businesses that require access to immediate funding due to Covid-19 ...
Effective February 23, 2021, the 2016 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys are being replaced with the new 2021 Minimum Standard Detail Requirements for ALTA/NSPS Land Title Surveys (“2021 Standards”). The 2021 Standards include a variety of changes which seek to further limit surveyor’s liability and provide better clarity ...
For several years, pursuant to the Food Drug and Cosmetic Act and Federal Trade Commission Act,[i] the Food and Drug Administration (FDA) and Federal Trade Commission (FTC) have issued joint warning letters to CBD companies alleging labeling claims they made are false or misleading. According to the agencies, the claims being made by these CBD companies include assertions that their CBD products will treat or cure serious health conditions ...
