On Aug. 16, President Joe Biden signed into law the Inflation Reduction Act (IRA) of 2022. Although it garnered headlines mostly for its $80 billion commitment to the Internal Revenue Service, the IRA went a long way toward providing tax incentives to real estate and related industries. Selecting a few primary issues from the IRA, as with any large-scale legislation, can be a challenge ...
On 5 October 2022, the Russian Federal Tax Service published the draft Order “On the Approval of the List of States (Territories) That Automatically Exchange Financial Information” (the “Draft Order”). The existing list of countries and territories that exchange such information is to be extended to include Kazakhstan, Maldives and Oman ...
The morning of February 24 began as an ordinary day for IP attorneys Julia Semeniy and Yuliya Prokhoda, with planned court hearings, client meetings and routine school runs in Ukraine. But when Russia began its onslaught on the country, in an act of internationally condemned aggression, their lives changed dramatically ...
It’s hard to explain to someone who has never been accused of a crime that they cannot use their own money, and this situation could last for months. Nonetheless, an institution exerting this effect functions under Polish law and can impact both individuals and companies This institution is the freezing of accounts. In general it is used where there is a suspicion that funds in an account have a criminal origin or are related to an offence ...
The modern world of technology has undoubtedly changed the manner in which we collect evidence as well as the types of evidence relied on in arbitration proceedings and trials. One such example is the increased use of digital and printed evidence. The reliance on computerised data and its credibility was explored in the recent case of Eskom Holdings SOC Limited v Ravichandran Reddy. In this matter, Mr Reddy, a zone manager at Eskom, was a beneficiary of Eskom’s managerial car scheme ...
In Ismail v Life Entabeni Hospital, the Commission for Conciliation, Mediation and Arbitration (“CCMA”) had to decide whether an employee had been unfairly discriminated against on the basis of her religion as a result of the employer’s “bare below the elbow” policy (“BBE policy”) which did not permit the wearing of long sleeves by those employees working in general wards and the ICU ...
On 7 October 2022 the President of the Russian Federation has signed Federal Law No. 387-FZ 'On Amendments to Article 52 of the Arbitrazh Procedure Code of the Russian Federation and Article 45 of the Civil Procedure Code of the Russian Federation'. The Federal Law comes into force on 18 October 2022 ...
This article focuses on the key aspects of the New Homes Quality Code (NHQC), which developers must consider and implement at the reservation and pre-contract stages ...
What’s happened? Pursuant to a circular issued by the Dubai Land Department on 23 September 2022, the registration of all co-occupants that reside in residential properties in the Emirate of Dubai, whether owned or rented, must be completed today. Who does this apply to? The circular issued by the Dubai Land Department applies to real estate developers, real estate leasing and management companies, real estate owners and tenants ...
Levelling up was barely mentioned in the recent “mini budget”, reports say barely any of the levelling up funds have actually been spent and figures show that since the first time then PM Boris Johnson uttered those two words “levelling up” in 2020, our regional cities continue to lag behind the capital. Investment is 23% lower, take up 12% lower and average rents a whopping 54% lower ...
The global trading system has been pushed to its limits since Russia’s invasion of Ukraine 7 months ago. Olesia Kryvetska, a counsel with Asters law firm and head of the Ukrainian Bar Association’s International Trade Law Committee, details the heaviest implications since the beginning of the war, namely soaring commodity and energy prices, food security crises, and supply chain disruptions ...
In a civil case, is it wiser for a business to try to persuade the counterparty to agree from the outset to arbitration—or potentially to place it's very solvency in the unpredictable hands of a judge and jury? Many "form" commercial contracts contain clauses mandating that any disputes that arise be resolved by binding arbitration rather than a jury or bench trial ...
In a joint statement made by the UAE Ministry of Economy and the UAE Ministry of Justice the implementation of the new Anti-Money Laundering reporting requirements, which are set out in Circular No. 5/2022 (the ‘Circular’) and which will apply to specific (cash and virtual currency related) real estate transactions that are conducted in the UAE, was announced over the summer. As outlined in the Circular, these additional reporting requirements are now in force from 1 July 2022 ...
On February 24, a lot changed in Ukraine, and the judicial system was no exception. What new has the full-scale invasion of the Russian Federation brought to the resolution of legal disputes and what does the judiciary look like under martial law - we will consider further. The first months after the invasion Immediately after the Russian invasion, the courts took some time to recover from the shock ...
There are often many reasons cited as to why international arbitration should be the preferred method of dispute resolution for parties: it can be quicker, cheaper, the process is private, the award is final and the parties have more autonomy over the process. Whilst some of these factors are debatable (especially in highly complex commercial cases), the fact that parties to an arbitration can have more autonomy than in traditional court litigation is usually less controversial ...
What’s happened? On 22 July 2022 Dubai Decree No. 22/2022 (the Decree) came into force with the purpose of encouraging further investment in the Dubai real estate market via the provision of various incentives and privileges aimed towards real estate investment funds ...
Since February 2022, Russia has adopted a number of regulations that aim to restrict real estate transactions involving persons/entities from certain foreign states. Such transactions require specific governmental approval prior to their conclusion. Further regulation has provided a number of exceptions to the previous prohibitions ...
SyCip Salazar Hernandez & Gatmaitan (SyCipLaw) Partners Ricardo Ma. P.G. Ongkiko (Head of the Firm's Litigation Department), Carlos Roberto Z. Lopez, and John Christian Joy A. Regalado authored the Philippine chapter of the latest Global Practice Guide (GPG) on International Arbitration published by Chambers and Partners ...
The United Arab Emirates (UAE), a sought-after destination by foreign businesses for establishing their regional offices, consists of multiple jurisdictions for incorporation/establishment of entities. Each Emirate of the UAE has its own licensing authority and, additionally, there are more than 40 free zones in the UAE. Each Emirate and each free zone can be regarded as a separate jurisdiction for the incorporation and establishment of entities ...
The California Department of Housing and Community Development (HCD) has remained active in enforcing state housing laws through its Accountability and Enforcement unit. Notably, HCD has focused its attention on larger, coastal cities – most recently, the cities of San Diego and San Francisco ...
The SBA has published a notice of “Tribal Consultation for Ownership and Control and Contractual Assistance; Requirements for the 8(a) Business Development (BD) Program and other Planned 8(a) BD Program Regulatory Proposals.” The notice states that SBA is “planning to issue a proposed rule concerning the 8(a) BD program regulations . . ...
In July, the Antimonopoly Committee asked the Ministry of Strategic Industries to update the conditions for providing state aid to companies that develop, manufacture, repair, and service aviation equipment and engines. What to update and how, the committee wrote in recently adopted recommendations . Asters lawyer Olena Gadomska told Mind what the latter envisage, why AMCU is resorting to such changes and who they will affect ...
On Thursday, August 19, 2022, as mandated by Executive Order 14063, issued by President Biden February 4, the Federal Acquisition Regulatory Council proposed a rule to amend the Federal Acquisition Regulations (FARs) to require that federal contractors and their subcontractors enter into project labor agreements (PLAs) with unions as a condition to receiving federal construction contracts worth $35 million or more ...
On Thursday, August 19, 2022, as mandated by Executive Order 14063, issued by President Biden February 4, the Federal Acquisition Regulatory Council proposed a rule to amend the Federal Acquisition Regulations (FARs) to require that federal contractors and their subcontractors enter into project labor agreements (PLAs) with unions as a condition to receiving federal construction contracts worth $35 million or more ...
