Over the last few years, companies listed on both the primary and secondary market of the Johannesburg Stock Exchange (“JSE”), have been obliged to comply with increasingly onerous and often unclear reporting obligations in respect of the status of their transformation. On 3 February 2021, the B-BBEE Commission offered some clarity, however, there are still uncertainties that need to be addressed for many JSE-listed companies to overcome reporting challenges ...
On November 2, 2023, in response to certain controversy, the Canada Revenue Agency (?CRA?) sought to clarify the application of the new disclosure rules, in force since June 22, 2023. The CRA?s comments relate, in particular, to the impact of reporting obligations on severance agreements, a topic we initially covered a few weeks ago1. We believe it is appropriate to go over these clarifications ...
Blissfully unaware that its customer, a merchant, is on the brink of filing a bankruptcy petition, your client has delivered goods on credit. The likely unhappy result: when the customer files, your client is left holding a general unsecured claim, with little chance to be paid until the conclusion of the proceeding. That may be years down the road, and when it finally takes place may amount to no more than pennies on the dollar. But all may not be lost ...
The judgment of the Court of First Instance in Chiquita Brands and Others v ...
How to strike the right balance between (i) the business need to take preparatory steps in view of integrating the target in M&A deals and (ii) the legal requirement to comply with the standstill obligation under merger control rules? ...
Is the sale or purchase of software by an agent on behalf of its principal a sale or purchase of ‘goods’ for the purposes of the Commercial Agents (Council Directive) Regulations 1993 (the “Regulations”) within the technology sector? Following the Court of Justice of the European Union (the “CJEU”) preliminary ruling in The Software Incubator Ltd v. Computer Associates UK Ltd case, we move a step closer to a much-needed consistent answer ...
In this context, the judgements provide useful guidance on the concepts of abuse and beneficial ownership. Abuse concept According to the CJEU, it is settled case-law that there is, in EU law, a general legal principle that EU law cannot be relied on for abusive or fraudulent ends ...
A recent Tenth Circuit decision shines light on a new avenue to challenge cannabis businesses, even in states where medical and recreational marijuana is legal. Although the potential federal criminal threat to cannabis businesses in states that have legalized medical or recreational cannabis has been relatively well-discussed, the potential civil threat has received little attention. In Safe Streets Alliance v. Hickenlooper, 859 F.3d 865 (10th Cir ...
On January 21, the U.S. Supreme Court struck down the restrictions on corporate expenditures encompassed in the Bi-Partisan Campaign Reform Act of 2002 (commonly known as the McCain-Feingold Act). The 5-4 opinion found the Act’s prohibition on the use of general treasury funds by corporations or unions to directly advocate the election or defeat of candidates or to broadcast electioneering communications ran afoul of the First Amendment’s established protections of free speech ...
On May 25, 2020, the Chilean IRS issued instructions on the temporary decrease to 0% of the Stamp Tax rate accrued between April 1 and September 30, 2020 (the "0% Rate Term"). In general terms, the Circular establishes the following: Although this is a transitory decrease, it benefits extensions and renewals made during the 0% Rate Term, which are linked to documents originally granted and taxed. This represents a change of criteria by the Chilean IRS ...
On April 29, 2020, the Chilean IRS issued instructions regarding the tax treatment of expenses incurred in connection with the health emergency caused by Covid-19. Additionally, the Tax Authority refers to the general requirements for all expenses and the tax treatment of some donations. I. Regarding the general requirements on deduction of expenses In accordance with Article 31 of the Income Tax Law, recently amended by Law No ...
In Commissioner of Internal Revenue v Ruben U Yu,(1) the Court of Tax Appeals (CTA) en banc clarified that the 180-day period referred to in section 228 of the Tax Code, as amended, applies only to the period within which the Commissioner of Internal Revenue (CIR), or their duly authorised representative, may act on a protest against a tax assessment ...
The Procedures reflect updates to the de-registration process for mutual funds and establish for the first time the de-registration process for private funds, which aim to create a streamlined and harmonised regime for regulated funds ...
Christian Vestheim focuses on mergers and acquisitions (M&A), investments, and Private Equity. He has extensive experience with Private Equity and venture capital transactions, and has assisted numerous national and international clients with investments and acquisitions. Christian has worked on transactions across various sectors, with a particular focus on technology in recent years ...
Quarles & Brady partner Chris Nickels provided insight for an American City Business Journals article about what the latest COVID-19 guidance from the Centers for Disease Control and Prevention (CDC) means for employers ...
THE LINDT BUNNY The company Lindt & Sprungli is the maker of the famous Lindt chocolate bunny. The product comprises chocolate in the shape of a squatting bunny, wrapped in gold foil with a red ribbon and a small bell. The chocolate bunny is a very big seller around Easter time, with sales in the tens of millions ...
Over the past few years, we’ve reported on a number of legal battles involving chocolate bars such as Kit Kat and Toblerone. These cases have dealt with the shape or appearance of chocolate bars. Another “food fight” has erupted in the UK, and this time it involves a speciality chocolate manufacturer called Hotel Chocolat and the retail chain Waitrose ...
We have reported on the demise of the Advertising Standards Authority (“ASA”) in previous articles, but there’s now a new advertising sheriff in town, the Advertising Regulatory Board (“ARB”), a body whose strapline is “Consumer protection through responsible advertising”. Gail Schimmel is the CEO of this new body ...
At the opening ceremony of the Forum on China-Africa Cooperation (“FOCAC”) summit held in Johannesburg in December 2015, the President of the People’s Republic of China, Xi Jinping, announced that China intends to invest US$60-billion in Africa over the next three years. This undoubtedly reaffirms the commitment by China and Africa to bilateral cooperation, thereby furthering China’s “One Belt, One Road” foreign policy ...
During the outbreak of COVID-19, the Chinese authorities have jointly released a series of measures to support enterprises and industries and reduce the negative economical impact of the epidemic ...
On April 21, 2015, the State Council of China (i.e. the central government) adopted the proposed draft of Administrative Measures on Concession of Infrastructure and Public Utilities Projects (the “Infrastructure Measures”) ...
The Anti-Monopoly Bureau (AMB) of the Ministry of Commerce of China (MOFCOM) has recently published the following provisions and guidelines relating to the review procedure for merger clearance with AMB (AMB Clearance): (1) "Tentative Provisions on Standards for Simple Cases of Concentration of Undertakings " (Standards), published on 11 February 2014; (2) Trial Guidelines on Notification of Simple Cases of Concentration of Undertakings" (Trial Guidelines) , published on 18 April 2014; and (3) R
Chinese authorities may soon make another significant step in China’s shift from being the global manufacturing hub to becoming the world’s biggest consumers market. During a press conference held in Beijing last 15 June, Yao Jian, the spokesperson of China’s Ministry of Commerce (MOFCOM) announced the upcoming reduction of import duties on luxury goods ...
In 2014, China’s Premier Li Keqiang chose Africa as the destination for his very first foreign trip, marking a milestone in China-Africa cooperation. His travels commenced on 4 May and included countries such as Ethiopia, Nigeria, Angola, and Kenya. Premier Li’s visit undoubtedly reflects the emphasis China is placing on Africa ...
Did you know? The Chinese National Intellectual Property Administration (CNIPA) recently revised the Examination Guidelines for software patents including artificial intelligence (AI), big data and blockchain. Why does this matter to you? These new Examination Guidelines provide much needed clarity as to the boundaries of patentable subject matter in China ...
