August 1, 2022: Emi Rowse Igusa has joined Kudun and Partners as a partner launching a brand new Japan Practice to cater to the burgeoning Japanese legal needs in Thailand. She is a specialist in commercial litigation and international arbitration and has represented numerous clients in arbitration cases under the ICC, LCIA, SIAC and TAI rules ...
The current regime Under the current regime in the Cayman Islands, the only option for a company to obtain a moratorium on claims, and to benefit from what is often seen as necessary breathing room to explore a restructuring, is for a winding up petition to be issued against the company and for the company to be placed into provisional liquidation, with provisional liquidators (JPLs) appointed over the company on a light-touch basis with the mandate to explore a restructuring of the company&r
Following the issuance of Constitutional Court Ruling No. 15/PUU-XII/2014 dated 11 November 2014, up until now, no clear guidance has been provided on the use of Article 70 of the Arbitration Law (Law No. 30 of 1999) ie, the reasons for which an arbitration award can be annulled. This advisory discusses the recent development in the interpretation of Article 70 of the Arbitration Law by the Indonesian courts.Under the Arbitration Law (Law No ...
President Joko Widodo has signed Government Regulation No. 23 of 2022 (“GR No. 23/2022”) on Amendments to Government Regulation No. 45 of 2005 on The Establishment, Management, Supervision and Dissolution of State-Owned Enterprises. GR No. 23/2022 focuses on amending several provisions of GR No. 45/ 2005, particularly regarding senior officers and employees of State-Owned Enterprises (“BUMN”). GR No ...
In order to provide clarity regarding the tax obligations of financial technology providers and users in Indonesia, Indonesia’s Minister of Finance (“MOF”) issued MOF Regulation No. 69/PMK.03/2022 on the Income Tax and Value Added Tax on the Organization of Financial Technology (“MOF Reg 69/2022”) on 30 March 2022, which came into force on 1 May 2022 ...
Under Government Regulation 71 of 2019 on the Implementation of Electronic Systems and Transactions, Electronic System Organizers (“ESO”) are required to be registered with the Ministry of Communication and Informatics (“MOCI”). In addition, under MOCI Regulation 5 of 2020 (as amended by MOCI Regulation 10 of 2021), this registration obligation must be complied with within 6 months of OSS-RBA licensing coming into effect ...
Electronic System Organizers (“ESO”) in the private sector, that include foreign private ESOs, which have been registered with the Minister of Communication and Informatics Regulation (“MOCI”) are subject to a number of obligations under MOCI Regulation No. 5 of 2020 on ESOs in the Private Sector as amended by MOCI Regulation No. 10 of 2021 (“MOCI Regulation 5/2020”), as the implementing regulation of Government Regulation No ...
Changes made consequent to the 47 meeting of the GST CouncilØ Enhanced refunds under inverted duty structure Ø Transfer of credit between distinct persons allowed Ø Concessional rate supplies made eligible for inverted duty refunds Ø No Interest liability on availment of credit without utilisationØ Time limits for demands and recovery extended till September 2023 for FY 2017-18 Ø Penalty applicable on persons involved in the issuance and credit of fake i
The recent Argos decision has partially overturned the Bakers of Nailsea decision in relation to summary only offences and the requirements of Criminal Procedure Rules. Public prosecutions begin after an authorised body applies to the magistrates’ court for a summons alleging an offence. The rules underpinning this process are in the Criminal Procedure Rules (CrimPR) Part 7 (and associated Practice Direction). One such rule, CrimPR 7 ...
Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for July 2022. Financial Services Bank Negara Malaysia issues new policy documents for Money Services Business Tax & Revenue Income Tax (Exemption) (No. 5) Order 2022 Income Tax (Exemption) (No. 6) Order 2022 Time Limit for Unabsorbed Adjusted Business Losses Carried Forward (Public Ruling No ...
August 1, 2022 By: Steven Nakasone On July 8, 2022, the California Privacy Protection Agency commenced the formal rulemaking process to adopt regulations to clarify and implement the amendments to the California Consumer Privacy Act (“CCPA”). The amendments will go into effect on January 1, 2023. The amendments will expand the rights of consumers and will increase the corresponding compliance obligations on businesses ...
Dinsmore partner Kelvin Lawrence was published in Bloomberg Tax with his article "Special Commentary: State Tax Treatment of Investment Partnerships." Read an excerpt below. The Multistate Tax Commission has undertaken an ambitious project on the state taxation of partnerships. Their partnership work group consists of volunteers from numerous state revenue departments, with the able assistance of MTC Counsel Helen Hecht and Chris Barber ...
Does the recent High Court decision in Butler-Sloss and Others -v- The Charity Commission and the Attorney General change the law on how charity trustees should approach investing their funds? The short answer is “no”. The decision is a reinterpretation of the 30-year-old decision in the Bishop of Oxford case for our modern world and a reinstatement of the fundamental duty of charity trustees to act in the best interests of their charities’ purposes ...
Background The Malta Financial Services Authority has informed investment firms of the amendments carried out to Part BI of the investment services rules for Investment Services Providers. These amendments seek to implement the provisions of the Commission Delegated Regulation (EU) 2021/1253 ...
New Past Performance Regulations from the SBA: Section 868 of the National Defense Authorization Act for Fiscal Year 2021, Public Law 116–283, required the Small Business Administration (the SBA) to develop regulations that permit small businesses, when submitting offers in response to federal procurements, to use their past performance as a member of a joint venture or as a subcontractor to a prime contractor ...
Stanford Economist Nick Bloom Shares WFH Trends and Predictions View Webinar More than two years into the pandemic, businesses are still wrestling with how to best navigate return to office (RTO). Firms that do it right stand to increase retention, equity, and business performance and forge a new culture of collaboration. But widely varying and evolving business and employee needs make it difficult to unravel the best course of action ...
In a ruling of 19 April 2022, the Belgian Supreme Court decided that an A1-certificate issued by a competent foreign authority to a posted worker does not exclude compliance with the DIMONA obligation. Does this mean that all foreign employers posting employees to Belgium must now file both a LIMOSA and a DIMONA declaration? This article sheds some light on the scope of the Supreme Court’s decision and the particular context in which it was taken ...
We publish the new edition of the newsletter on Banking and Finance, Capital Markets and Insurance Law in Angola for the 2nd quarter of 2022 brings together the most significant new developments in these areas. In this newsletter, you can find legislative news regarding the National Bank of Angola, President of the Republic, Government/Parliament and CMC ...
