On December 27, 2021, the Chilean Competition Agency, Fiscalía Nacional Económica (“FNE”), filed the first lawsuit with the Chilean Competition Court, Tribunal de Defensa de la Libre Competencia (“TDLC”), for an infringement of the horizontal interlocking prohibition established in Law Decree No. 211 of 1973 (“DL 211”), against Mr. Hernán Büchi, Banco de Chile, Consorcio Financiero S.A ...
First of all, we are proud of Jan Magne Langseth and Christian Reusch who assisted Bank Norwegian in a principle matter before the Supreme Court of Norway between Ikano Bank et al versus Bank Norwegian. The case concerned the use of competitor’s brands in key word advertising on Google ...
Slump Sale - Effect of Amendments by Finance Act 2021 AUTHOR: Shahid Khan Senior Partner and Head Direct Taxation Kochhar & Co. Email: [email protected] Finance Act 2021 has made certain important amendments to Income Tax Act (the Act) in respect of provisions relating to taxation of capital gains arising on Slump Sale ...
Union budget 2022-2023 Expectations Overview The economy of the resurgent India is expecting a road map with the upcoming Union Budget 2022-23. The Budget speech is likely to pen down new reforms and policies that helps the economy to maintain a sustained growth rate ...
Overview of fund investment advisory businessSecurities and fund investment advisory business is a basic capital markets intermediary service. Securities and fund investment advisory business currently comprises securities investment advisory business, fund investment advisory business, and securities research report issuing business ...
[!<CDATA[ Over the past decade, financial technology companies (fintechs) have been on the rise, disrupting all segments of the financial industry. Their innovative technology, swift adaptation to market trends, and ability to create personalized and efficient customer experiences enabled them to reshape the way we look at, use, and provide financial services ...
With answer to ruling no. 839 of 21 December 2021 (the Ruling 839/2021), the Italian Tax Authorities (ITA) clarify that credit institutions established in the United Kingdom (UK) cannot benefit from the withholding tax exemption on interest and other proceeds from medium-long term loans provided for by Article 26, para. 5-bis, of Presidential Decree no. 600/1973 (the Decree 600/1973). https://www.gop.it/doc_pubblicazioni/935_qrpnmu9tzy_ita ...
After more than a decade of litigation, three appeals, and a two week bench trial, the Fifth District Court of Appeal (“DCA”) rejected claims by three retired members of a retirement system that a retirement board breached its fiduciary duties of loyalty and prudence to the retirement system’s members ...
On Dec. 21, 2021, the Office of Inspector General (OIG) released a Health & Human Services (HHS) OIG Data Brief on genetic tests provided under Medicare Part B. The goal of the OIG in reviewing this data was “to analyze nationwide trends in genetic tests provided and payments made under Medicare Part B.”[1] As a result of this analysis, the OIG determined that there is a significant risk of overuse and misuse of genetic testing ...
There are numerous reasons why your pension might be in England and Wales while you are not. Perhaps you lived and worked in England or Wales then moved abroad, or you live overseas and did a stint of employment here. Whatever the situation, the majority of English and Welsh pension administrators neither recognise nor implement pension orders made in foreign courts following divorce ...
On December 19, Gabriel Boric was elected as future President of Chile, and will take office on March 11, 2022. The following is a list of the main tax proposals1 of the recently elected candidate: New income tax regime: a disintegrated income tax regime is proposed for large companies, separating the tax paid at the company level from the one payable by its shareholders when withdrawing profits ...
On December 6, 2021, the State Administration for Market Regulation issued a circular to seek public comments on a draft of the Measures for Determination of Illegal Gains in Administrative Penalty Cases by Administrations for Market Regulation (Draft for Comment) (the “Draft Measures”), which is open for public comment until January 5, 2022 ...
We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors. It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...
A recent opinion from the Court of Appeals of Georgia illustrates that contracts entered into with an unlicensed contractor, which are often unenforceable by an unlicensed contractor under many states’ laws, likely will not defeat the Federal Arbitration Act’s (FAA) deference to arbitration as the forum for determining whether a contract is valid and enforceable. In Jhun v. Imagine Castle, LLC, the Jhuns hired defendant Imagine Castle to perform remodeling work at their home ...
A pair of recent rulings involving the economic loss doctrine from North Carolina serve as a timely reminder to carefully consider the extent of contractual remedies in negotiation of construction agreements – lest a later breach of contract remedy prove insufficient, and further recovery barred by the economic loss doctrine ...
We have been involved in several noteworthy trademark and unfair competition disputes throughout 2021. In particular, we prevailed before the Supreme Court in a highly cited unfair competition and trademark dispute between Bank Norwegian AS and the three competing banks Komplett Bank, Ikano Bank, and BRA-bank in the «Google Ads» matter ...
The case concerned the use of competitor’s brands in key word advertising on Google. Ikano Bank and two banks in the consumer loan market demanded that Bank Norwegian’s advertising on the Internet using the banks’ characteristics as paid keywords should be prohibited pursuant to the general clause of the Marketing Act. The principle character of the case was demonstrated by the support from Virke, The Federation of Norwegian Enterprise, in favor of the three claimants ...
The court of appeal’s decision has been referred to by several law firms as an important clarification that such internal notes are indeed encompassed by privilege and not disclosable. We do of course agree that maintaining trust in the attorney-client privilege is important, but in this context, it was hardly a point that needed clarification ...
December 17, 2021 By: Melissa Richards Earlier this year, we reported that the California Department of Financial Protection and Innovation (CA DFPI) published new regulations requiring all existing commercial lenders and brokers licensed under the California Financing Law (CFL) to transition their licenses over to the Nationwide Multistate Licensing System (NMLS) electronic portal by December 31, 2021 ...
With just seven days left until Christmas Day, there’s no denying we are well in the midst of the festive build up. But, for those holding out for a special ‘I Do’ surprise this year, Christmas might just come a bit earlier than expected. Predictions made previously by Bridebook [1] show that the weekend before Christmas is when most intending spouses do, in fact, pop the question ...
Financial Services Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan
It may seem logical that personal injury damages awarded for someone’s on-going medical needs following a serious injury would be ring-fenced on a divorce. Unfortunately, this is not necessarily the case. The leading authority on this point is Wagstaff v Wagstaff from 1992 in which, when referencing an attempt to ring-fence damages on divorce, it was stated that “the capital is not sacrosanct nor any part of it secured against the application of the other spouse” ...
Ahead of the 2021 holiday season, as children dream about the toys that Santa Claus will bring them, let?s take a look back at a landmark decision that reviews what is copyrightable under the Copyright Act ...
