The EU-UK Trade and Cooperation Agreement has effectively brought an end to state aid and a new regime of subsidy control has come into effect ...
Financial services companies, such as banks, credit unions, lenders, finance companies, loan servicers, broker-dealers, and securities firms, often receive subpoenas from parties in litigation involving their customers, employees, and business partners. They may also receive subpoenas from regulatory organizations, government agencies, and grand juries ...
Amendments to the Corporate Income Tax Act which went into effect on 1 January 2014 provide an opportunity to revive the practice of subparticipation in lending in Poland. Regulations governing subparticipation have been in force since 2004. For tax reasons, however, subparticipation has remained much less popular in Poland than assignment of receivables, despite certain other advantages, particularly the greater ease of selling participation in loans backed by mortgages ...
Over a year ago, Congress amended the Bankruptcy Code to create Subchapter V, with the intent of encouraging small businesses (defined as those with less than $2,725,625.00 in debt) to file reorganization plans more often by saving certain costs of a routine Chapter 11. Congress then passed the CARES Act in response to the COVID-19 pandemic, raising the debt limit to $7,500,000.00 ...
Behind every video game, there is intellectual property (IP) which is worth protecting to optimize monetisation of the game. As discussed in Studios and designers: Are you sure that you own the intellectual property rights to your video games, the first step for studios and designers is to make sure that they own all IP rights on the video game ...
The Internal Revenue Service has released a Private Letter Ruling ("PLR") allowing a plan sponsor to make contributions to employees' 401(k) accounts if the employees are repaying student loans. This is exciting news for employers sponsoring 401(k) plans who hope to attract and retain employees as student loan debt rises to unprecedented levels. The PLR confirmed that some student loan repayment programs linked to 401(k) employer contributions are acceptable ...
The Asian hedge fund industry is comparatively new and small. However, the industry has witnessed phenomenal growth since 2002. The purpose of this book is to assist start-up managers to establish a hedge fund business. To date, a majority of the newly-established funds in Asia have been set up by fund managers or proprietary traders setting up their own business, after a successful career at one of the larger investment houses ...
Strengthened collaboration between BVI and PRC: a precedent of enforcing a PRC arbitral award Background In Window of Trade, the Claimant applied to the BVI Court to enforce the Award in favour of the Claimant. The Award required the Second Defendant to return 100% of the equity in the First Defendant, a BVI company, to the Claimant and to assist the Claimant in restoring its name to the register of members of the First Defendant. The Second Defendant opposed the enforcement of the Award ...
Phasing is one of the key factors to consider and get right in planning for large scale, strategic development. A well-phased scheme divides the site into distinct parcels of land allowing reserved matters to be submitted and conditions discharged in relation to each parcel, individually, as it comes to be developed. It also allows planning obligations in section 106 Agreements to be apportioned between parcels and (in some cases) to be attached and limited to particular parcels ...
It goes without saying that a lender must work to maximize its recovery when a borrower is in default and has no reasonably realistic or meaningful way to cure the default. This scenario far too often forces a lender to determine the most efficient and effective method to sell its collateral ...
Key Points The court found that plaintiff’s reliance on an issue raised by third-party commenter to establish exhaustion was a risky endeavor; insofar as a third party settles institutes its own challenge on an issue and settles a claim, the plaintiff in a later action, at least in some circumstances, cannot maintain its own challenge on that same issue ...
On January 31, 2014, the Supreme Court of Canada released its decision in A.I. Enterprises Ltd. v. Bram Enterprises Ltd., 2014 SCC 12. This is an important commercial decision as it clarifies and narrows the scope of the tort of unlawful interference in economic relations. Canadian businesses will also welcome the Court's reference to commercial certainty as one of the principal reasons to clarify and limit the scope of this tort ...
In a fascinating court case involving perhaps the best known players in the crytocurrency sector, old legal principles were used to try to solve a new problem. The claim relates to very substantial digital currency assets that Tulip Trading Limited (TTL) claimed it owned but is currently unable to control or use. Following what it says was a hack of computers at the home office of Dr Craig Wright, its primary owner, the company allegedly lost access to more than 111,000 bitcoins ...
The numbers have been crunched and we have a winner! The United States District Court for the Eastern District of Virginia — known nationally as the “Rocket Docket” — had the fastest trial docket in the country in 2013. Once again. For the sixth year in a row. The median time interval to trial for the 12-month time period ending March 31, 2013, (the most recently released data) is 11.1 months. That’s 11 ...
The recent decision of the Ugandan Court of Appeal to uphold a 12-year custodial sentence against a former managing director of the National Social Security Fund (“NSSF”) has sparked much debate among finance and legal professionals. Speculation is rife on the impact the decision will have on fund managers (falling within the scope of the Anti-Corruption Act, 2009), as they trade on the secondary bond market ...
An entrepreneur who invests time and energy raising the funds necessary to launch a startup, usually from family and friends (love money), will necessarily want their startup to grow exponentially. Achieving exponential growth requires always more capital, and so the entrepreneur will need to find additional sources of financing. One of these could be venture capital financing ...
Stepmother's Day exists, although it is probably not widely celebrated. Most people are probably not aware that there is a Stepmother’s Day, which falls this year on 16 May 2021. It is marked one week after International Mother’s Day, which differs from our British version. Many families are unlikely to celebrate Stepmother’s Day and there may be good reason for that ...
The BVI is a leading international financial centre, and BVI companies play a significant role in the flow of capital across the global economy. As global economic conditions become more challenging, lenders are increasingly reliant on formal insolvency procedures to realise value from distressed assets. As a result, the past year has seen a marked increase in the use of statutory demands against BVI companies as a precursor to an application to appoint liquidators ...
China Business Law Journal Published March 9, 2023 With the growing importance of environmental, social and corporate governance (ESG) and the high level of globalisation in capital and supply chains, the scope of ESG regulation is no longer confined to listed companies, the traditional targets ...
The State of California and the City of Los Angeles are providing emergency assistance for California small businesses. These grants and loans are separate from incentives and programs being offered by the U.S. Small Business Administration. The State is also reminding businesses of existing small business loan programs that affected businesses can utilize. Information about the programs and how to apply is set forth below. State of California Loan Programs 1 ...
Following the announcement of economic measures aimed towards responding to the COVID-19 outbreak, the Serbian Government issued two regulations on 10 April 2020 that determine the conditions and criteria for compliance of the state aid (i) for remedying the negative effects caused byCOVID-19 and (ii) for remedying a serious disturbance in the economy caused byCOVID-19, whereas both regulations will be valid until 1 July 2021 ...
