After a hectic first quarter, the focus shifted dramatically after the lockdown in mid-March. Within a few days, we went from negotiating new financings within most industries to assisting our clients with urgent waivers and liquidity loans. After the initial chaotic period, we have, however, seen a more normalized period with considerable activity where strong companies and good projects have been able to obtain new financings on acceptable terms ...
In this Review, we provide a summary of the most significant developments in employment law in Hong Kong throughout 2020 that you should be aware of. It also covers an outlook for 2021 in respect of the likely changes in employment law ...
General Since the European System of Financial Supervision (ESFS) was introduced in 2010, several legislative acts have been adopted in the EU without being incorporated into the EEA-agreement. This is mainly due to Norwegian constitutional issues. These constitutional issues were resolved in 2018, and as result, a huge backlog of EU legislative acts needs to be incorporated into the EEA-agreement and transposed into Norwegian law ...
After an extremely busy 2021 where the financial markets and the lending sector recovered rapidly from the COVID-hibernation, 2022 has been a turbulent year that did not live up to expectations in terms of activity. With geopolitical unrest, high inflation and rising interest rates as the backdrop, financial markets were volatile and funding costs increased substantially ...
Application of the exemption method conditional on fulfillment of requirements with regards to ownership fraction and period The Norwegian rules regarding participation exemption have in general entailed that companies tax resident in Norway investing in companies tax resident in the UK have benefited from participation exemption rules with regards to dividends and capital gains on such shares, and the same has been the case for UK companies investing in Norwegian companies ...
Following is a list of year-end administrative issues for Texas limited partnerships and limited liability companies (“LP/LLC”): Ensure that the LP/LLC’s activities, transactions, capital infusions (capital contributions or loan proceeds), and distributions are accurately reflected in the entity’s records; Avoid causing the LP/LLC to make any distributions not in compliance with the terms of its LP/LLC agreement or applicable law; for example, an LP/LLC should not make disproportion
Before 2019 comes to a close, it may be worthwhile to review the state of your tax, estate, and charitable giving plans. Along with the typical end-of-year considerations, it is important to remain aware of the effects of the 2017 tax act (informally called the “Tax Cuts and Jobs Act of 2017,” and herein the “2017 Tax Act”) that altered many longstanding rules and assumptions ...
Non-compete clauses in employment agreements have been the source of much controversy over the years. Employers want them to protect their human capital and to prevent competitors from stealing their valued employees. Employees dislike them because they prevent mobility of employment. There are good arguments on both sides. Recently, there have been developments that seem to erode the enforceability of non-competes ...
On January 20, 2017, in a case of first impression among the appellate courts, a panel of the Ninth Circuit concluded in Syed v. M-I, LLC (Case No. 14-17186) that an employer violates the Fair Credit Reporting Act (FCRA) when its background check disclosure/authorization document includes a sentence that releases the employer, the consumer reporting agency (the vendor), and their agents from liability for any violations of the FCRA ...
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) ...
NEW REQUIREMENTS FOR PRIVATE PLACEMENTS(“Regulation 45-106”)OBLIGATION TO KNOW YOUR INVESTOR WELLIssuer’s obligations:Ask questionsVerify the investor’s declared income and assetsConfirm the relationship between the investor and the issuerObtain proof of the investor’s statusKeep the documents on file
Following the Zambia’s Minister of Finance’s announcement in the 2019 Budget that the country’s value-added tax system is to be abolished and replaced with a sales tax system, the Sales Tax Bill (the “Bill”) was presented to parliament for its first reading on 2 April 2019 ...
Today (1 March 2023) is Zero Discrimination Day. The aim of the day is to promote equality and end all forms of discrimination. The day should serve as a reminder to employers on how they can identify, prevent and tackle discrimination. It is true that change within an organisation starts from the top and employers should be keen to build a culture of trust where employees feel comfortable raising concerns ...
With the use of zero-hours contracts 'ZHCs' increasing and new regulations in this area coming into effect, employers should ensure compliance with the new rules. Background Since our previous article, the Exclusivity Terms in Zero Hours Contracts (Redress) Regulations 2015 (the 'Regulations') came into force on 11 January 2016 ...
The Value Added Tax (VAT) Law (5735-1976) sets out that zero-rate VAT applies to the export of services to a foreign resident. However, recent judgments have interpreted such relief in a narrow manner and have significantly reduced the ability to charge zero-rate VAT on services rendered to foreign residents. General overview VAT is levied in Israel pursuant to the VAT Law with respect to the consumption of goods and services in Israel ...
Members of the Zimbabwe ruling party’s decision making body told Bloomberg in April 2014 that Zimbabwe is considering the reintroduction of the Zimbabwe dollar as it struggles to meet its monthly wage bill. In May Zimbabwe’s Treasury postponed the pay dates for its 230 000 public workers the second time in two consecutive months, after having awarded civil servants a 23% increase in April to honour a 2013 election promise made by President Robert Mugabe and the Zanu PF ...
America’s fascination with zombies infiltrated the West Virginia Legislature during the 2014 Regular Session, resulting in the introduction of a “zombie debt” bill, House Bill 4360. The bill, as introduced, was designed to thwart all debt collection efforts after a debt’s statute of limitations has passed ...
