TheSarajevo Business Forum2016(SBF) was, among hosting a number of lectures and discussions, a platform for one of the largest post-war investments in the energy sector in Bosnia & Herzegovina (BiH) ...
On May 12th, EPA issued two rules that will significantly impact the oil and gas industry nationally. The first rule, an outgrowth of the President’s Climate Action Plan, establishes new source performance standards (“NSPS”) to curb emissions of methane, as well as volatile organic compounds (“VOCs”), from new natural gas and oil well sites and from new natural gas production gathering and boosting stations, processing plants, and transmission compressor stations ...
The Climate Action and Low Carbon Development Act 2015 (the Act) was signed into law on 10 December 2015. The Act comprises of a framework designed to achieve a low carbon, climate resilient, and environmentally sustainable economy by 2050. The Act provides for two statutory plans which will guide policy in relation to greenhouse gas emission reduction and climate change adaption. The plans are: 1) National Mitigation Plan; and 2) National Adaption Framework (NAF) ...
With the advent of the Construction Regulations, 2014 (the “regulations”), which are binding in terms of the Occupational Health and Safety Act, 1993 (“OHASA”), additional duties are now placed on the “client” that did not exist under the previous regulatory regime. For example, the client now assumes the duty to prepare a baseline risk assessment for a construction work project and, depending on the factual circumstances, to apply for a construction work permit ...
A lifelong right to live in a house owned by someone else is referred to as a right to habitation. Once this right is registered in the Deeds Office, it is enforceable against everyone, including the registered owner of the immovable property (“property”).This position was confirmed in the recent Supreme Court of Appeal case of Hendriks v Hendriks and Others (case no ...
The regulation governing contracts of public bodiesleaps into the digital age. The amendments, passed on April 13, 2016, and coming into force June 1, 2016, aim to clarify the rules pertaining to the results evaluation.1Five key changesTenders in electronic form are mandatory if so required in the tender documents ?> change of computer systems will be needed to ensure the integrity of the signatures and tenders ...
On March 1st, 2016, Supreme Decree N° 62 of the Ministry of Economy, introduced in 2006 (hereinafter, the “Decree 62”), that regulates capacity transfers among power generation companies entered into force, modifying the methodology used to calculate transfers.IntroductionThe Chilean electric system remunerates power generation companies for two products: energy and capacity ...
Today, Wednesday, June 1st, the Framework Law for the Management of Waste, Extended Liability of the Producer and Promotion of Recycling No. 20,920 (the “Law”) was published.PurposeThe Law seeks to reduce the generation of waste and encourage its reuse, recycling and other types of recovery ...
Today, Wednesday, June 1st, the Framework Law for the Management of Waste, Extended Liability of the Producer and Promotion of Recycling No. 20,920 (the “Law”) was published.PurposeThe Law seeks to reduce the generation of waste and encourage its reuse, recycling and other types of recovery ...
Karanović & Nikolić Senior Associate, Ana Luković, visited the recently held 8thInternational Bar Association's (IBA) Real Estate Conference in Copenhagen. As was the case during the previous editions of the conference, it provided a platform for around 150 attendees – hailing from all across the contemporary business spectrum – to communicate and exchange their views on various topics related to the field of real estate law ...
Growth of the real estate industry in Panama in recent years is noticeable, not just locally but at a regional level as well. Iconic architectural works such as the Trump Tower, F&F Tower (popularly called the “Screw”) among others, attracts positive criticism from different actors in the business and associations in the construction, development and promotion of the real estate business. In part, real estate growth in Panama is due to the ease in the execution of real estate transactions ...
Recent news reports show that IKEA, the world famous Swedish multinational retailer, is getting ready to invest EUR 88 million in the construction of a Designer Outlet complex in Croatia. The company, whose Croatian division opened on the outskirts of Zagreb in August 2014 and has since been welcoming over 1.5 million customers on an annual basis, has decided to embark on such an endeavour in order to tap into a yet unseen mix of outlet retail and leisure entertainment in the region ...
There has been an exciting development in the entertainment industry, as the Czech company"Sebre a.s."bought a 20% stake in Serbian "Avala film" – an iconic studio hailing from the golden age of Yugoslavian film ...
There is a growing trend of initial public offerings of debt in Israel by U.S. (and Canadian) real estate companies with income-producing real estate and the listing of the bonds for trading on the Tel Aviv Stock Exchange. During 2014 and 2015, approximately 15 such real estate companies completed public debt offerings in Israel, the large majority of which were initial public offerings, raising approximately NIS 8 billion in total (equivalent to approximately US$2 billion) during such period ...
The Supreme Court of Canada issued its reasons today in Krayzel Corp. v. Equitable Trust Co., 2016 SCC 18, adding some clarification to a mortgage lender’s right to protect itself from the increased commercial risk associated with a defaulting mortgagor through the use of interest rates, given s. 8 of the Interest Act which reads as follows: "No fine, etc ...
One of the liveliest parts of the recently held panel discussion organised by the Association for Sustainable Development and the Youth Forum of the European Movement, was revolving around Serbia's obligation to reach 27% of its total consumption of energy to be coming from renewable energy sources (RES) by year 2020 ...
Recent news reports are claiming that Mercator is expected to sell its chains of sporting goods stores, Intersport and Modiana, by the end of July. This kind of activity would be the latest in a longer line of investments that Mercator has been selling off, including Pekarna Grosuplje and Mercator-Embi, all of it as means of shifting the corporate focus to the company's main activity – trade ...
The Environmental Evaluation Service (SEIA) has published the “Guide for Determination of the Ecological Flow for Hydropower Plants”.The objective of the Guide is to establish uniform criteria for determining the environmental flow regime in hydropower plant projects that are evaluated by the SEIA. The Guide incorporates the use of hydrological criteria, valuation of ecosystem services and anthropic uses, while also taking into account the particular project’s specific characteristics ...
With more than 6-months of delay, the Government of the Republic of Serbia finally adopted the following package of decrees setting out the new incentive scheme for green energy:Decree on the Power Purchase Agreement, ("PPA Decree");Decree on incentive measures for the production of electric energy from renewable energy sources and from high-efficiency cogeneration of electric energy and thermal energy (" View More
The Ministry of Commerce under the Government of the Republic of the Union of Myanmar issued Notification no. 56/2016 on 7 July 2016, announcing that permits for the trading of construction materials may be granted to joint-venture companies with a foreign partner. This means that foreign companies can now form a joint-venture company and import constructions materials– they could not do this in the past ...
Recent news reports are informing us that an Anglo-Chinese consortium, consisting of British company Scarborough Group International and the Chinese owned China National Electric (CNEEC) company, has signed a contract to build a thermal power plant in Loznica, in the amount of EUR 230 million. The consortium received additional financial support from the China Development Bank, while the Chinese insurance company Sinosure also showed interest in participating in the project ...
On June 25th, 2016, Law No. 20,930 that establishes the environmental conservation right was published in the Official Gazzette. The purpose of this law is to create a mechanism to simplify and promote the participation of private parties in the conservation of the environment, as a complement to the work done by the State in these matters. This right has its origin in Comparative Law ...
According to latest news reports, Plinovodi – the company managing Slovenian gas pipelines, will be brought under majority state control, while the energy company, Petrol, is due to secure a majority stake in the gas wholesaler Geoplin under a contract signed this month. It should be noted that the Slovenian Sovereign Holding (SSH) and Petrol are currently the largest Geoplin shareholders. Geoplin, in turn, is the sole shareholder of Plinovodi ...
The July 2016 issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Renewable energy projects”. The article was contributed by SyCipLaw partner Rafael L. Encarnacion. The article discussed the challenges that the national legal regime poses to foreign investors seeking a higher equity stake for renewable energy projects, and the difficulty of procurement with either-end users or distribution utilities ...
On July the 27th 2016, Law No. 20.936 that establishes New Power Transmission Systems and creates an Independent Coordinating Body for the National Power System (the “Transmission Law” or “New Law”) was published. Its stated objectives are to ensure that transmission does not become an obstacle to power generation, increase competition in the electrical market and boost the development of non-conventional renewable energies ...
