In recent years, Special Purpose Acquisition Companies or “SPACs” have gained tremendous popularity in the United States. In 2020 alone, one hundred SPACs accounted for approximately $80 billion in US public fundraising. Although that enthusiasm has not reached the same levels in continental Europe, these investment vehicles are also increasingly making their way into the different European markets. Today, about six SPACs are listed on Euronext Amsterdam ...
Fast becoming the Monaco of the East, Singapore is luring global UHNWIs to set up family offices here due to its wealth-friendly tax and regulatory regime, and its position at the global economic growth epicentre. Sergey Brin (net worth: US$104 billion). Google’s co-founder and the world’s ninth-richest person set up a branch of his single family office (SFO), Bayshore Global Management, in Singapore to manage his local assets late last year ...
Charitable giving is a way for businesses and individuals to save on taxes while supporting the causes that align with their values. At Schwabe, we can help clients to plan charitable gifts and make sure that their charitable giving works holistically with the plan they have created for the distribution of their entire estate. This article will cover common questions associated with charitable giving ...
By: Matthew Seror and Aaron Levine On June 1, 2021, the U.S. Supreme Court granted certiorari in a case that will likely determine once and for all whether courts are empowered to void copyright registrations based on immaterial registration errors, or whether a showing of bad faith or an intent-to-defraud is required. The underlying case, Unicolors v. H&M, 2020 U.S. App. LEXIS U.S. App. LEXIS 17097 (9th Cir ...
POLITICAL AGREEMENT WITH THE EUROPEAN PARLIAMENT ON THE PROPOSED DIRECTIVE ON THE DISCLOSURE OF INCOME TAX INFORMATION BY CERTAIN UNDERTAKINGS AND BRANCHES _____________________________________ On 1 June 2021, the Council of the European Union (the “Council”) reached a political agreement with the European Parliament on the proposed directive on the disclosure of income tax information by certain undertakings and branches, commonly referred to as the public country-by-count
Our latest article in the series looking at the impact of the pandemic on different groups focuses on how COVID-19 has affected those within ethnic minorities, what this has meant for the BLM movement and what employers can do to better support employees. Impact of COVID-19 The latest statistics all point to the fact that the COVID-19 pandemic has disproportionately affected those within ethnic minorities ...
According to the Court Service, around 80% of cases presently in the family courts of England and Wales involve at least one of the parties acting as an unrepresented litigant in person. Since 2013, when public funding for almost all family court cases was stopped, numbers have been steadily rising. The reasons are simple; many people decide to represent themselves in an attempt to avoid expensive legal bills ...
This case concerns an adjudicator’s decision issued on 7 December 2020. The adjudicator found in favour of Faithdean plc, ordering Bedford House Ltd, the employer, to repay deductions of around £1.5 million. No payment was made to Faithdean and enforcement proceedings were issued in January 2021. Bedford did not put forward a defence. Instead, it argued it could not pay as it wished to know the exact amount in order to make a single payment to Faithdean ...
An adjudicator’s jurisdiction is central to their ability to determine a dispute between two parties; without it, their decision will be invalid and unenforceable by a court. Conversely, if an adjudicator has jurisdiction, then, as the Court of Appeal has repeatedly emphasised, that adjudicator’s decision must be enforced, even if it results from errors of procedure, fact or law ...
It is a well-established rule of the Housing Grants, Construction and Regeneration Act 1996 (the ‘Act’) that an adjudicator will only have jurisdiction to determine one dispute under a construction contract at any one time, unless their jurisdiction has been extended by consent of the parties ...
Introduction The Covid-19 vaccine is currently being rolled out, and according to the authorities’ vaccination-plan, a large part of the population will receive their first dose during the summer months. As a rule, one must take the vaccine in one’s own home municipality, and not in the municipality where one has a summer house etc. In addition, the authorities are working on a corona certificate ...
Bio-Rad Laboratories, Inc. v. International Trade Commission, Appeal Nos. 2020-1475, -1605 (Fed. Cir. May 28, 2021) In this week’s Case of the Week, the Federal Circuit considered an appeal from the International Trade Commission affirming an Administrative Law Judge’s finding that 10X’s products violated the Tariff Act by infringing multiple patents and that they did not infringe another ...
Bio-Rad Laboratories, Inc. v. International Trade Commission, Appeal Nos. 2020-1475, -1605 (Fed. Cir. May 28, 2021) In this week’s Case of the Week, the Federal Circuit considered an appeal from the International Trade Commission affirming an Administrative Law Judge’s finding that 10X’s products violated the Tariff Act by infringing multiple patents and that they did not infringe another ...
New measures for state contracting for economic reactivation. Through Decree 579 of 2021, issued on May 31 by the National Planning Department, certain transitory paragraphs enshrined in Decree 1082 of 2015 or the sole Regulatory Decree of the Administrative Planning Sector, were replaced in matters of state contracting ...
Financial ServicesBank Negara Malaysia seeks feedback on Alternative Reference Rate and Strategic Direction on KLIBOR and KLIRROn 19 May 2021, Bank Negara Malaysia invited written feedback by 18 June 2021 on its Alternative Reference Rate and Strategic Direction on the Kuala Lumpur Interbank Offered Rate (“KLIBOR”) and the Kuala Lumpur Islamic Reference Rate (“KLIRR”) for the Malaysian Financial Markets discussion paper ...
In April 2020, we reported on the first cases that were conducted remotely via video conferencing facilities (VCF) during the court closures due to the Covid-19 pandemic. More than a year has passed and, although Covid-19 is still posing challenges, the courts have reopened and continue to embrace technology to facilitate social distancing ...
In the first part of the series, “Grey Divorce – hidden battles for protection and succession of family assets”, we looked at the recent trend of an increasing divorce rate for older couples and, in particular, the case of CSH vs LS or LS formerly known as CYY (FCMC 12435/2016; [2020] HKFC 143) (the CSH case) ...
In the recent case of A1 & ANOR V R2 & ORS [2021] HKCFI 650, the Applicants are pursuing proceedings in the Cayman Islands and other jurisdictions in relation to an alleged fraud committed against a Cayman Islands exempted limited partnership, involving alleged misappropriation of over US$100 million ...
The Centers for Medicare & Medicaid Services (CMS) recently issued a new rule modernizing the “Stark Law” regulations. The rule aims to advance value-based care and ease the regulatory burden on physicians. Most of the reforms are effective January 2021; however, the rule includes important changes to how physician group practices may share profits that take effect next year ...
In a judgment handed down on February 16, 2021, in a case involving former de facto spouses, the Superior Court dismissed an interlocutory injunction filed by the plaintiff seeking the eviction of the defendant from what had been their common residence. After having lived together in a de facto union for 32 years, the parties separated. The plaintiff, sole owner of the family residence, left the residence while the defendant continued to live there ...
On May 12, the Cyberspace Administration of China (“CAC”) issued for public comments the Several Provisions on Administration of Automobile Data Security (Draft for Comment) (“Draft Provisions”). The Draft Provisions would be the first departmental rules dedicated to addressing data compliance requirements in the automobile industry. Unlike previous draft standards[1] proposed for connected vehicles, the Draft Provisions would apply to vehicles of all types ...
The following enhancements have been made to the Money Lenders Licence Licensing Conditions with effect from 16 March 2021: Revision of Condition 9 (content of advertisements by money lenders) to provide that advertisements published by money lenders should be fair and reasonable and not contain misleading information ...
The Bank for International Settlements (BIS) recently discussed possible approaches to establishing an interoperating central bank digital currencies (CBDC) arrangement as the future of cross-border payments. Although not an “official” definition, CBDC generally refers to a new form of digital currency issued by a central bank, denominated in an existing unit of account operating as a store of value and a medium of exchange ...
