In this issue, we present an overview of arbitration as a dispute resolution mechanism. This edition also includes some key takeaways from a recent debate in Stockholm on the relevance of Section 36 of the Contracts Act in commercial disputes. Additionally, we provide an update on the proceedings before the Court of Appeal concerning the temporary injunction granted by the Oslo District Court in the Norwegian climate case ...
Appointment of a liquidator to an insolvent company incorporated in the British Virgin Islands The effect of an insolvent liquidation is to put the affairs of the company in the hands of an independent insolvency practitioner who is required to take possession of, protect and realise the company’s assets for the benefit of the company’s creditors. Liquidation is a final procedure which will ultimately bring the company’s life to an end ...
Case 1: the Lila Lisbon[i] — an appeal on an LMAA arbitration award, at the High Court, London, dealing with whether a Buyer under a NSF 2012 can claim loss of bargain (market price vs purchase price) following Seller’s failure to deliver within Cancelling Date [held: no] ...
On 4 September 2024, the Cabinet Office published further guidance on the Procurement Act 2023 (the ‘Act’) which is now due to “go live” on 24 February 2025. The new guidance covers contract modifications under the Manage phase of the commercial pathway. Contract modifications may need to be made to reflect commercial reality, as demands and circumstances change throughout the lifetime of the contract ...
The UK GDPR and similar data protection laws around the world ask for data protection by design - but what does this mean in practice when it comes to DSARs? Using products such as Shoosmiths' SmartSAR may be the solution your organisation is looking for. Data protection ‘by design and default’ is a core concept under the UK GDPR and similar laws around the world ...
HR teams have a lot on their plate, but a key priority for 2024 is undoubtedly protecting the employee brand proposition. Our 2024 online programme is focused on supporting HR teams to do just this, equipping them with the tools they need to protect the employee brand proposition of the organisations they work for. Our latest webinar focused on what organisations need to do to manage conflicting protected beliefs ...
Good corporate governance is fundamental for the stability, sustainability, and efficiency of financial institutions. In El Salvador, the regulation of these institutions is governed by local legislation and regulations that contain good practices established in international principles, particularly those of the Organization for Economic Cooperation and Development (OECD) and the Basel Committee on Banking Supervision ...
On 9 September 2024, Mario Draghi, former Italian Prime Minister and European Central Bank President, presented his highly anticipated report on «The Future of European Competitiveness» to European Commission President Ursula von der Leyen [1][2]. This comprehensive report analyzes the challenges faced by European industries and companies in the Single Market and proposes strategies to enhance the EU’s competitiveness [2] ...
Carey Olsen Guernsey and Jersey achieve a clean sweep of Tier 1 practice rankings in IFLR1000 2024 28 lawyers have also been ranked in the newly released guide, confirming Carey Olsen's position as a leading law firm for the Channel Islands. Among those recognised, six individuals have been named 'Market Leaders', 13 'Highly Regarded', four 'Notable Practitioners, one 'Rising Star Partner', two 'Rising Stars', two 'Expert Consultants' and two 'Women Leaders' ...
Jersey publishes new guidance on the tokenisation of real world assets (“RWAs”) What is tokenisation? Tokenisation is the process of issuing a digital representation of an asset, typically on a blockchain, and its benefits include allowing investors to own and sell fractions of an asset which may otherwise be illiquid and/or financially unattainable for such investors to own outright ...
The EU's comprehensive data and AI regulatory package is about to become operational. This year, the Krogerus Data Symposium will highlight some of the most impactful changes of the Data Act and the AI Act, which will profoundly influence the application of AI, how companies and communities can utilise IoT data, and how data usage agreements are formed ...
Modern data protection rules are being introduced to tax-efficient jurisdictions like Bermuda and the Cayman Islands. It's increasingly vital to understand how to handle data in some less familiar territories for data protection. Advisers are familiar with the data protection laws which apply in the jurisdictions where many commercial businesses operate like the UK Data Protection Act, the UK/EU GDPR and the California Privacy Protection Act ...
Whilst talk of Rail Refrom is excellent news for a Sector that has been crying out for it, how much will it really impact the supply chain and what processes and protections are already in place to help the flow of contractual payments? As the Passenger Railway Services (Public Ownership) Bill awaits its second reading in the House of Lords on 7th October it is clear that there is a real focus on Rail from the Government ...
Force majeure remains a hot topic when it comes to contracts. Following the pandemic, Suez Canal blockage and international sanctions, parties to contracts have been looking at how to possibly recover their losses or minimise the effects of delays. One question that had arisen was whether contracting parties could be forced to find a way around the issues by being commercially minded, particularly where they had an obligation to use reasonable endeavours to overcome the force majeure event ...
The Ministry for Home Affairs, Security and Employment (MHSE) published the proposed Maltese draft order for the transposition of the EU Network and Information Systems Directive II (‘NIS 2’) on 6 September 2024 ...
Five aspiring lawyers begin training programme with Carey Olsen Guernsey Tom Andrews, who was previously working as a paralegal within Carey Olsen's corporate team, also begins his SQE course this September in the firm's London office and will work exclusively on corporate matters ...
Carey Olsen promotes corporate lawyer Emily Cornhill to partner in the Cayman Islands Emily advises on a range of corporate and commercial matters, with a particular emphasis on investment funds. Her practice focuses on the establishment of investment funds in the Cayman Islands, in addition to advising on transactional, financing and regulatory and compliance matters related to investment funds and other vehicles ...
Carey Olsen advises FitzWalter Capital on launch of ~US$1.4 billion fund The Carey Olsen corporate team advising on the Jersey aspects of the transaction comprised partner James Mulholland, counsel Thomas MacAdie and associate Charlie Hurst, working alongside onshore counsel Debevoise & Plimpton LLP and Jersey administrator J.P. Morgan ...
September 11, 2024 By: Amber Healy, Craig Nickerson, and Spencer Adler On September 3rd, 2024, Los Angeles County’s Fair Chance Ordinance (“FCO”) went into effect, establishing new criminal background check requirements for employers in unincorporated areas of Los Angeles County. The FCO expands the limitations placed on employers by California’s Fair Chance Act (“FCA”) ...
A federal court has issued a nationwide injunction blocking enforcement of the Federal Trade Commission’s (“FTC”) new rule that would ban nearly all non-competition (“non-compete”) deals. The rule, issued on April 23, 2024 (the “Non-Compete Rule”), would broadly ban employer/employee non-compete agreements nationwide and was set to go into effect on September 4, 2024 (“Effective Date”) ...
Dr. Christine Calleja from Mamo TCV Advocates and Dr. Matthew Brincat from Ganado Advocates will be participating in an upcoming webinar organised by Novargo on the 12th of September. This webinar will focus on tackling key employment law issues encountered by HR professionals. Participants will have the chance to ask questions and gain invaluable insights on effectively navigating complex legal matters and workplace challenges ...
This newsletter features a look into notable recent case law and other developments in Finnish competition law and other regulatory issues. The Finnish Competition and Consumer Authority proposes a first ever fine for an alleged obstruction of a dawn raid In May 2024, the Finnish Competition and Consumer Authority (FCCA) proposed that the Market Court imposes an infringement fine of approximately EUR 4.4 million for an alleged obstruction of the FCCA's unannounced inspection ...
Two Carey Olsen lawyers named eprivateclient 2024 NextGen leaders The 2024 eprivateclient NextGen Leaders award is open to nominees from within the private client advisory professions, including private client tax, trust, dispute resolution, and family lawyers, as well as accountants and trustees. Judging is based on the individual's qualities and achievements ...
Changes to the Cayman Islands Beneficial Ownership Regime The New BO Regime extends the scope of entities required to maintain a BO Register by including limited partnerships and removing a number of exemptions, while also consolidating the requirements in a single statute and reducing duplication of reporting where one Cayman Islands entity holds a reportable interest in another ...
The National Interest Waiver (“NIW”) is a special provision within the EB-2 employment-based immigration category that allows individuals to bypass the usual labor certification process (“PERM”) required for most employment-based green cards. The NIW is granted to foreign nationals who can demonstrate that their work is in the national interest of the United States, making it a valuable option for highly skilled professionals ...
