In the course of regular updates on Russian counter-sanctions measures, we would like to provide you with summarized information on: new Official Clarifications published[1] by the Ministry of Finance on October 14, 2022; and new Presidential Decree No. 737 published on October 15, 2022. The above have hugely updated the current counter-sanction FDI regime in Russia, in particular, new transactions requiring counter-sanctions approval were added (e.g ...
In a surprise announcement on 21 March 2014, the Zambian government with immediate effect abolished exchange control regulations introduced in 2012 and 2013 in an attempt to halt the rapid devaluation of the Kwacha. When the Movement for Multiparty Democracy (MMD) came to power in Zambia in 1991, the new government’s priorities were the restoration of economic future growth and employment through liberalising the economy and allowing market forces a greater role ...
FAQ on the Belgian Pre-Contractual Information in the Framework of Commercial Co-operation Agreements Act of 19 December 2005.Belgium has a specific legal regime protecting the economically weaker party in certain commercial partnership agreements (i.e. the Pre-Contractual Information in the Framework of Commercial Co-operation Agreements Act of 19 December 2005 – “the Act”) ...
You may already be aware of a new federal law called the Corporate Transparency Act (the CTA), which became effective on January 1, 2024. The CTA was enacted as part of the National Defense Authorization Act and mandates that certain business entities (“Reporting Companies”) report identifying information to the Financial Crimes Enforcement Network (FinCEN) ...
In Texas, tenants who are obligated to reimburse property owners for property taxes have a right to protest the appraised value of the property if the property owner does not file a protest relating to the property. To facilitate this right, the Texas legislature enacted a law (Section 41.413 of the Tax Code) that requires the property owner to give all such tenants a copy of the notice of appraised value received by the property owner within 10 days of receiving the notice ...
In a recent case, the High Court took the opportunity to restate the law on misrepresentation and the importance of demonstrating that an innocent party has actually relied on a misrepresentation. In Leeds City Council and others v Barclays Bank PLC and another [2021] EWHC 363 (Comm), the High Court preferred the Defendant’s interpretation of the applicable test and struck out the Claimants’ claims for misrepresentation ...
Parties in the process of arbitrating disputes, thinking of commencing arbitration, or even thinking of including arbitration provisions in a contract have been given a lot to think about, thanks to the changes introduced by Decree 34 of 2021. It is early days yet, and we need to see how matters develop. With that caveat out of the way, here is a rough guide of what Decree 34 could mean for parties in arbitration in the UAE ...
Not surprisingly, COVID-19 business interruption insurance disputes dominated media headlines for most of 2020. Nonetheless, there were a number of other insurance rulings that will undoubtedly shape the coverage landscape. Policyholders enjoyed a number of significant wins including significant victories related to COVID-19 business interruption cases. The start of a new year gives us an opportunity to highlight some of 2020’s most notable coverage decisions ...
2020 has been a year of new challenges and uncertainty due to the Covid-19 pandemic. Despite these turbulent times, the Norwegian real estate market has remained relatively stable and strong. According to the last known reports and statistics, we see a total transaction value that has surpassed NOK 51 billion in 2020, compared to NOK 100 billion in 2019. The project finance facilitators remain more active than ever ...
To avoid a complete halt in critical functions in society, the government proposed a new law, the Corona Law, which provided the government with the authority to give regulations that were contradictory to statutory law. The most prominent feature on the field of litigation was the court’s new ability to decide that an oral hearing should be held by the use of videoconference. Furthermore, the Supreme Court also showed their ability to adapt quickly to the new situation ...
The transaction pace and volume of 2021 was the silver lining of the Covid-19 overcast, keeping our clients and us busy and productive. Particularly the container ship market has been steaming hot, with rapidly increasing prices and high transaction volume. The bulker market has also seen the highest prices for the last decade, with correspondingly high transaction volume ...
The first half of 2021 was marked by the highest level of commercial real estate transactions ever. The latest reports and statistics show that this trend has continued in the last six months, and the total transaction volume is likely to exceed NOK 130-150 billion. This surpasses the record year of 2015, when the total transaction volume for commercial real estate was NOK 129 billion. The pandemic caused increased use of home office ...
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 ...
[!<CDATA[ In May of this year, the Supreme Court of Wyoming held that a subsidiary of Sinclair Oil could invoke statutory bad faith damages after prevailing in a coverage dispute with its insurer, Infrassure. The court rejected the district court’s analysis that accepted the insurer’s narrow interpretation of Wyoming’s insurance code ...
In March, the European Commission recommended that member states introduce temporary restrictions on travel to the European Union (through 15 May 2020). The vast majority of European countries coordinate border control measures at the EU level. States are again fencing their territories, suspending the free movement of persons also between regions ...
With the explosion of remote work arrangements during the COVID-19 pandemic, employers are more likely to have remote employees who live in different states. A company should examine whether it is actually subject to potential jurisdiction for legal claims in each state where it has a remote employee. In other words, if your company has employees working remotely in other states, can you actually be sued in all of those states? The answer is maybe ...
The Supreme Court has decided several cases concerning the Civil Procedure Act this autumn. We would like to start by mentioning HR-2022-1503-U, which concerned the difference between an ordinary witness and an expert witness. Two decisions concerning recusal are also noteworthy: HR-2022-1959-A and HR-2022-1799-U. The question in the first case was whether a judge had to recuse himself because his textbook expressed an opinion about the legal issue in the case ...
“Historical facts”1 are not protected by copyright. Referring to the Storming of the Bastille or the Battle of the Plains of Abraham will not get an author sued in Federal Court, but must these events have really happened to be considered “historical facts”? The Federal Court recently ruled on this issue in Winkler v. Hendley ...
In 2012 the Western Cape High Court handed down a trade mark judgement that raised eyebrows. The facts were that the owner of a farm called Zonquasdrift had a trade mark registration for the mark Zonquasdrift covering wine (but not grapes). The owner of another farm in the area sold wine grapes under its name, Zonquasdrif Vineyards (no ‘t’ at the end) ...
BackgroundSection 466(1)(a) of the Companies Act 2016 (“CA 2016”) provides that a company is deemed unable to pay its debts if it is indebted in a sum exceeding an amount prescribed and neglects to pay the sums stipulated in the notice of demand within 21 days of being served with the said notice.Through the issuance of the Prescription of Amount of Indebtedness of Company published on 26 January 2017 (“2017 Threshold Order”), this amount was fixed at RM10,000 ...
A new feature of the civil justice reform system came into effect on 1 January 2010, nine months into the revamp. Steven Yip and James Yeung report that the introduction of mediation, as prescribed by Practice Direction 31 ('PD 31'), is expected to have a profound impact on the way parties conduct cases ...
Wills for Jersey residents What is a Will? Jersey law treats movable and immovable assets differently for succession purposes, therefore we need to consider them separately when looking at your estate planning needs. Movable assets include things such as bank accounts, jewellery, furniture, cars, life insurance proceeds and shares (including shares in a property holding company entitling the owner to occupy a share transfer apartment) ...
The law is one of the main instruments of social impact, which is particularly evident in the midst of aglobal health crisis, when the situation and applicable regulations are changing every day. New statutes and regulations are key to maintaining the delicate balance between order and chaos, public and private interests, and the common good and individual rights ...
Wednesday June 30 2021 is when the Stamp Duty ‘holiday’ in its current form at least will end. The Chancellor, Rishi Sunak, introduced the temporary Stamp Duty Land Tax (SDLT) in July 2020 to boost the housing market following the first national lockdown. The aim was to save buyers from paying stamp duty on any properties valued at up to £500,000 – a saving worth up to £15,000 ...
