Hong Kong’s Securities and Futures Commission (SFC) held two virtual briefing sessions in October 2021 and provided useful guidance on its newest climate-related risk management requirements for fund managers, as detailed in the Consultation Conclusions on the Management and Disclosure of Climate-related Risks by Fund Managers (with amendments to the Fund Manager Code of Conduct (FMCC)) and the Circular issued on 20 August 2021 ...
The appointment of provisional liquidators by the Cayman Court is a powerful and valuable tool in the right circumstances. However, in a series of recent cases, the Court has underscored the high hurdles that must be met and emphasised that an order to appoint liquidators must always be viewed as a serious step that requires a heavy and onerous evidential burden on those who seek such orders ...
On 05 October 2021, the Bangko Sentral ng Pilipinas (“BSP”) issued Circular Letter (“CL”) No. 2021-72, disseminating to all BSP-Supervised Financial Institutions (“BSFIs”) the AMLC Regulatory Issuance (“ARI”) No. 6-2021 on the final extension of the deadline for compliance with the Guidelines on Digitalization of Customer Records (“DIGICUR”). ARI No ...
In a major change for arbitration in Dubai, the DIFC-LCIA Arbitration Centre has been abolished. On 14 September 2021, Decree No. 34 of 2021 (Decree No. 34) was issued by Mohammed bin Rashed Al-Maktoom, Ruler of Dubai. It not only dissolves the Dubai International Financial Centre Arbitration Institution (DIFC-LCIA Arbitration Centre), but also the Emirates Maritime Arbitration Centre (EMAC) ...
Banks were cast as the villain of the piece in the so-called ‘Great Recession’ of 2007–2009, the last downturn to hit our economy before the coronavirus pandemic. Their role in the subprime mortgage debacle led directly to a global financial crisis and the deepest UK recession since the Second World War. By contrast, in the economic downturn triggered by the COVID-19 pandemic in 2020, the banking industry played a crucial role in stabilising our economy ...
The Technology and Construction Court (TCC) in Eco World - Ballymore Embassy Gardens Company Ltd v Dobler UK Ltd [2021] EWHC 2207 (TCC) enforced a liquidated damages (LDs) clause that did not allow for a proportionate reduction following partial possession of sections of a development. The TCC rejected that the clause was a penalty, and considered the argument that an invalid liquidated damages clause could still operate as a valid cap of liability ...
Revitalizing Brownfields has long been considered a centerpiece for community efforts to encourage growth and development of properties impacted by contamination. In 2021, Oregon’s Legislature passed HB 2518, which seeks to enhance Brownfield development by making forgivable loans available to assist with the cleanup of blighted properties ...
Kudun and Partners represented Thammasat University with the preparation of the licensing agreement with Antitoxin GmbH, a German company founded in 1966 and specializes in the development of certified blood typing reagents for automated and manual applications ...
The Renewed Proposal On Oct. 14, 2021, SEC Chairman Gary Gensler released a statement announcing the SEC would once more open comment on the Dodd-Frank Act rule regarding clawbacks of incentive-based compensation that had been improperly awarded due to since-corrected accounting errors. Should a company not comply or refuse to institute a compensation recovery policy, the SEC proposal goes so far as to threaten delisting ...
Author(s) Senior Partner, Nishant Menon and Associate, Nikhil Bhatia The Supreme Court of India on 6th August 2021 in Amazon.com NV Investment Holdings LLC v Future Retail Limited & Others handed down a seminal decision in relation to enforcement of an Emergency Arbitrator’s (“EA”) award. The ruling has great significance as it furthers India’s mission of being a pro-arbitration State where there is greater ease of doing business ...
Predatory or forced marriages faced by individuals (usually elderly) whose mental capacity is in doubt or who are vulnerable to undue influence remain an open wound for many families. As things stand, an unscrupulous individual can engineer a marriage to a vulnerable person, by-passing any possible dispute about a will, meaning the predator gains the entire estate with no legal redress for disappointed beneficiaries or concerned family members ...
In our previous article, we reported that the court had refused to frustrate a tenancy agreement due to the COVID-19 pandemic and social disruption: The Center (76) Limited v Victory Serviced Office (HK) Limited HCA 1020/2020; [2020] HKCFI 2881. In this article, we will discuss several recent decisions on the same subject. The tenants’ arguments in all of these cases, that their payment obligations were discharged/suspended during the COVID-19 pandemic, failed ...
Dear valued clients, colleagues and friends, We are pleased to bring you the September 2021 issue of our quarterly Newsletter, we hope that you will continue to find its contents of value to you. In this issue’s Front Page Focus, Caitlin Tan Hui Yi, associate from our Dispute Resolution Practice Group, discusses the disqualification of solicitors in the Court of Appeal case of Dato’ Azizan bin Abdul Rahman v Pinerains Sdn Bhd ...
Dear valued clients, colleagues and friends,We are pleased to bring you the latest legal updates for October 2021.Employment & Administrative LawDeed of Settlement, Termination and Release Upheld as Cessation of Employment by Mutual AgreementIn the recent case of Christopher Dass a/l Muniandy @ Mathew v Clasquin (Malaysia) Sdn Bhd dated 3 August 2021 (Award No ...
Energy drink giant Red Bull recently received some negative press for issuing a cease and desist letter to Norwich-based gin maker Bullards for the use of the word ‘bull’ in its brand name. The case is a useful reminder that brand owners should make sure that their brand protection strategy reflects the organisation’s wider brand values ...
The Technology and Construction Court (TCC) in Quadro Services Ltd v Creagh Concrete Products Ltd [2021] EWHC 2637 (TCC) held that a claim referred to adjudication with three separate payment applications was still considered a single dispute for the purposes of adjudication. The adjudicator therefore did have jurisdiction to consider all three payment applications to determine the sum due, and the adjudicator’s decision was enforced ...
In Blu-Sky Solutions Ltd v Be Caring Ltd [2021] EWHC 2619 (Comm) the High Court in England held that a supplier's standard terms and conditions ("T&Cs") are incorporated into a contract by reference if the contract provides that, upon signing the contract, the customer accepts that it has reviewed and agreed to the relevant T&Cs ...
Re Piedmont Trust and the Riviera Trust [2021] JRC 248 (Royal Court of Jersey, Commissioner Birt, Jurats Ramsden and Olsen, 5 October 2021) The Court held that the protector will usually be entitled and required to form his or her own judgment on a trustee’s decision and whether to consent to it or veto it, rather than simply review whether the trustee’s decision has been reached properly ...
On 14 September 2021, the Thai cabinet passed a resolution (“Cabinet Resolution”) proposed by the Centre for Economic Situation Administration (“CESA”) to incentivize foreign investment in Thailand through the issuance of new visa, tax, and foreign land ownership incentives. The CESA particularly aims to attract high net worth foreign nationals, who wish to invest in land and buildings, and who can meet these minimum qualifications: 1 ...
Sir Andrew McFarlane, President of the Family Division gave an address to the Jersey International Family Law Conference on 8 October 20211. With three years of his term remaining, he set out two areas where he intends on devoting additional time. The first is ‘transparency’ in the Family Court and the second is the resolution of Private Law disputes between parents regarding the care arrangements for their children after separating ...
Two articles (Newsweek and Fierce Biotech) describe the new lawsuit by the Henrietta Lacks Estate surrounding the HeLa cell line. The claim is "unjust enrichment," a difficult claim to win, but one that seems to fit this case, if any does. If you don't know this story, I recommend The Immortal Life of Henrietta Lacks, by Rebecca Skloot. It is the true story of an apparently wonderful woman, Ms ...
The current prospectus rules The current Jersey definition of “prospectus” has often meant that a securities offer by a Jersey company is a prospectus for Jersey law purposes, even where an exemption from the obligation to produce an approved prospectus is available in other jurisdictions in which the offer will be circulated ...
There has been an increase in market capitalisation of Jersey listed companies on global exchanges from £269 billion in 2014 to £278.9 billion in 2021. Furthermore, The International Stock Exchange (TISE) has seen the number of listings increase from 2,272 in 2016 to 3,431 securities on its official list at end of June 2021. These are just some examples which explain why Jersey is now regarded as a premier international finance centre ...
The only thing crystal clear about health care price transparency requirements at the moment is that the government will continue implementing new price transparency laws, regulations, and rules ...
