With the Paradise papers leak in 2017 and the infamous Panama papers leak the year before, it has become increasingly more important to choose the right destination for offshore investment. It will require careful consideration, planning and skilful professional advice. It will also no doubt require a jurisdiction with a politically and economically stable environment, sound legislation, low tax (or zero tax), a solid banking framework and a discreet environment ...
Earlier this year the European Commission published a draft Withdrawal Brexit Agreement. It is a draft treaty to embody the key principles from the Joint Report of the Commission and the UK on the first three elements of the Brexit negotiations (i.e., People, Ireland and Money - the "PIM" Phase). The draft Agreement sets out a roadmap for the EU's vision of the withdrawal process.This is a negotiating move by the EU - it is not an agreed draft. It is a move by the EU in the Brexit chess match ...
Insolvency that stems from the obligations assumed by a joint venture may concern any of the associates. Such proceeding, especially when it has an international dimension, requires a broader perspective on some of the requirements set forth by law with respect to the initiation and application of the proceeding. Through its effects on the debtor, creditors and on the socioeconomic environment in general, insolvency is more than a mere legal procedure ...
Alvarado v. Dart Container Corporation, Case No. S232607 (Cal. Sup. Ct, March 5, 2018) On March 5, 2018, the California Supreme Court issued its long awaited overtime calculation decision in Alvarado v. Dart Container Corporation, Case No. S232607 (March 5, 2018). The specific question before the Court was "how an employee’s overtime pay rate should be calculated when the employee has earned a flat sum bonus during a single pay period ...
For the first time, the Nasdaq has allowed common shares of a Canadian cannabis cultivator, Cronos Group Inc., to be cross-listed on the Nasdaq Global Market. This cross-listing for Cronos (TSX-V: MJN; Nasdaq: CRON) marks the first time a cannabis cultivator was allowed to list on any U.S. exchange. In 2015 and 2016, Nasdaq famously rejected the Colorado cannabis-focused social media company MassRoots Inc ...
On March 13, 2018, the Internal Revenue Service (IRS) announced that it will immediately "ramp down" its Offshore Voluntary Disclosure Program (OVDP). The IRS is closing the OVDP on September 28, 2018. Taxpayers with unreported foreign accounts or assets should be aware of the implications of such a change and consider the benefits of disclosure through the OVDP while it remains available ...
It is one year since the United Kingdom (UK) triggered Article 50 of the Treaty on European Union (EU) by notifying the European Council of its intention to withdraw from the EU. This means that we are now half way through the two year negotiation period during which the terms of the UK’s withdrawal from the EU are due to be concluded ...
The Changwon District Court in South Korea has this afternoon (23 March 2018) issued a comprehensive prohibition order (CPO) following the application of Sungdong Shipbuilding and Marine Engineering Co. Ltd (Sungdong) to enter Chapter 11 Rehabilitation filed earlier this month ...
It is one year since the United Kingdom (UK) triggered Article 50 of the Treaty on European Union (EU) by notifying the European Council of its intention to withdraw from the EU. This means that we are now half way through the two year negotiation period during which the terms of the UK’s withdrawal from the EU are due to be concluded ...
Amendments to Zimbabwe’s controversial Indigenisation and Economic Empowerment Act, Chapter 14:33 (the “Act”), were gazetted on 14 March 2018. These far-reaching changes, first announced in the 2018 Budget in December 2017, should pave the way for foreign investors wishing to establish operations in the country and boost the economy ...
The Federal Court in Johor Coastal Development Sdn Bhd v Constrajaya Sdn Bhd[1] (“Johor Coastal”) was invited to consider if the legal principles enunciated and the application of section 75 of the Contracts Act 1950 (“CA”) in Selva Kumar a/l Murugiah v Thiagarajah a/l Retnasamy[2] (“Selva Kumar”) remains good law ...
View the PDF version of the April 2018 IP Beacon. Are Works Generated by AI Subject to IP Protection? When Philip Dick wrote the 1968 novel "Do Androids Dream of Electric Sheep?," the inspiration for the 1982 film "Blade Runner," artificial intelligence was more fiction than science. Fifty years later, theHarvard Business Reviewpredicts that AI will be the single biggest technological development of our era, as transformative as the steam engine or electricity ...
Philippines Franco Aristotle G. Larcina and Arlene M. Maneja SyCip Salazar Hernandez & Gatmaitan Antitrust Law 1. What are the legal sources that set out the antitrust law applicable to vertical restraints? The key statute is Republic Act No. 10667, otherwise known as the Philippine Competition Act (PCA), which was enacted on 21 July 2015 and which became effective on 8 August 2015 ...
Artificial intelligence is a burning topic in many sectors today and the legal industry is no exception. Recently, at the World Services Group’s annual employment law1 conference held in February, AI was heavily debated along with its’ impact not only on the legal profession, lawyers, clients, the way business is done, but also our traditional understanding of concepts such as “law” or “justice” ...
Earlier this year, Mexico´s Senate approved the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”) formerly known as the Trans-Pacific Partnership ("TPP"). The CPTPP will enter into force once six of its members ratify the Treaty pursuant to their internal legal procedures. Mexico is the first member to ratify the Treaty ...
Earlier this year, Prime Minister Theresa May said the government wanted to, “secure broad energy cooperation with the EU”, including by, “exploring options for the UK’s continued participation in the EU’s internal energy market” ...
Abu Dhabi has introduced new rules governing the functioning of the Emirate’s judiciary. The new rules appear in Abu Dhabi Law 13 of 2018, which amends Abu Dhabi Law 23 of 2006 on the Abu Dhabi Judicial Department. The new provisions largely address internal matters related to the functioning of the courts, such as the composition of panels of the courts and the accountability of judges. But two features could be of more general interest ...
The Legal 500 & The In-House LawyerComparative Legal GuidePhilippines: Mergers & Acquisitions Country Author: Franco Aristotle G. Larcina, Partner, SyCip SalazarHernandez & Gatmaitan 1. What are the key rules/laws relevant to M&A and who are the key regulatory authorities? M&A activity is governed primarily by the Corporation Code of the Philippines (Batas Pambansa Blg. 68) ...
The approval of the long awaited Federal Law on Arbitration by the Federal National Council was announced earlier this year ...
Earlier this year, the U.S. Supreme Court issued its long-awaited decision in Epic Systems Corp. v. Lewis, resolving an issue on which several Courts of Appeals and various federal agencies and administrations had disagreed. At issue in Epic Systems (and two companion cases presenting the same issue: Ernst & Young LLP. v. Morris and National Labor Relations Board v. Murphy Oil USA, Inc ...
On May 21, 2018, the United States Supreme Court issued its 5-4 decision in Epic Systems Corp. v. Lewis, No. 16-285; Ernst & Young LLP v. Morris, No. 16-300; and NLRB v. Murphy Oil USA, Inc., No. 16-307 holding that an employer may require its employees to sign a dispute resolution arbitration agreement that includes an employee’s waiving the right to bring a claim on a class or collective action basis ...
In a much anticipated opinion, the Supreme Court on Monday held that class action waivers in arbitration agreements are enforceable. In a 5-4 decision written by Justice Neil Gorsuch, the Court stated that “Congress has instructed in the Arbitration Act that arbitration agreements providing for individualized proceedings must be enforced, and neither the Arbitration Act’s saving clause nor the NLRA suggests otherwise ...
In Praxair Distrib., Inc. v. Mallinckrodt Hosp. Prods. IP Ltd., 2016-2616, -2656, in a decision authored by Judge Lourie, the Court of Appeals for the Federal Circuit held that the printed matter doctrine is properly applied during claim construction and can include not just printed matter, but also mental steps ...
