****Dear Ladies and Gentlemen,**** We would like to update you on recent precedent-setting judgements by Russian courts in matters involving foreign businesses that decided to leave Russia. On 17 October 2023, the Arbitrazh court of Moscow city sustained the claim by Russian bank PJSC Sovkombank against Citibank N.A. (a US company) and its Russian subsidiary JSC KB Citibank concerning the joint recovery of US$24m in losses1. On 21 December 2023, an appeals court upheld the judgement ...
On December 15, 2023, the Comptroller General of the Republic confirmed Supreme Decree No. 30/2023, which amends the Regulations of the Environmental Impact Assessment System (SEIA) in order to adapt said regulation to the requirements of the Framework Law on Climate Change and the Escazú Agreement. The approved modifications include, among others, the following: Modification of the minimum contents of Environmental Impact Declarations (DIA) and Environmental Impact Studies (EIA) ...
Updated on 8 January 2024.Food law is extensively harmonized throughout the EU, but national law still has a role to play. In this short article, we look at three developments in Belgian food law that have taken place in 2023: the amendments to the Food Safety Agency’s administrative fining regime, the introduction of nutrivigilance, and the announced revision of the food hygiene legislation.1 ...
Introduction The International Convention for the Prevention of Pollution from Ships (“MARPOL” or the “Convention”) was promoted by the International Maritime Organisation (“IMO”). It was adopted on the 2nd of November 1973 to tackle the menace of marine pollution by oil, chemicals, and other hazardous materials from ships through operational or accidental causes ...
IF YOU WANT TO TRADE IN AFRICA If you are interested in trading in Africa, this is a wake-up call! Enforcement of Competition law and policy has revved up several gears on the Continent, as delineated by the recent commencement of investigations by the Common Markets for Eastern and Southern Africa (“COMESA”) Commission into a suspected violation of the COMESA Competition Regulations by Pay TV Companies and the conclusion of investigations into “misleading and unconscionable
Renewable energy projects affecting the environment, such as wind and solar projects, currently require multiple permits from different authorities, which may make the permitting processes rather burdensome and unpredictable. To tackle this, the government is looking to streamline and standardize the permitting process by developing a "one stop shop" in order to boost new investments in Finland and make the processes more predictable ...
The Environment Agency has been found in breach of the Regulators’ Code by failing to provide a proper appeal mechanism for challenging Compliance Assessment Reports. It must now decide how to provide permit holders with a new appeal mechanism ...
By means of Exempt Resolution No. 1,268 dated November 20, 2023, published in the Official Gazette on November 30 (the "Resolution"), the Ministry of the Environment (the "MMA") opened a public information period to receive background information to regulate photovoltaic panels in the draft Supreme Decree that will establish collection and recovery goals and other obligations associated with piles and electrical devices (the "Decree"). As a context, by means of Exempt Resolution No ...
In recent years, the intersection of economic openness and national security has prompted international policy development in various countries, including Norway. Concerns about vulnerabilities arising from foreign investments, particularly in security-sensitive sectors, have led to the revision of legislation and the initiation of supply chain assessments by trading partners ...
1. How do you foresee the evolving regulatory landscape in offshore jurisdictions impacting Asia-based clients in 2024, and what strategies is your firm considering to navigate these changes effectively? Anthony McKenzie (AM): Asia is the world's largest and most populated continent, comprised of many different economies, cultures and laws. The use of Cayman, BVI and Bermuda structures has a long track record throughout Asia and it is this familiarity which has contributed to their popularity ...
On November 15, 2023 the Ministry of Industry and Trade has submitted to the authorized departments for approval a draft governmental decree (“Decree”) banning the use of polymer goods and packaging waste from which is not recyclable or inefficiently extracted. In case the draft Decree receives positive feedback, it will undergo further consideration in the Russian government and subsequently adopted ...
By means of Agreement No. 33/2023 dated November 3, 2023, the Council of Ministers for Sustainability and Climate Change approved the proposed Supreme Decree that establishes collection and recovery goals and other obligations associated with the priority product lubricating oils (the "Decree") prepared by the Ministry of the Environment (the "MMA") ...
Interest in the development of offshore wind power projects in Finland has increased significantly in recent times. As project developers are exploring the opportunities to construct wind farms in the exclusive economic zone ("EEZ") of Finland, many find themselves wondering how the permitting process will be arranged and how the final project developer with the exclusivity over an area will be selected ...
Background In the lead up to the entry into force of the EU Ship Recycling Regulation, sustainable dismantling of vessels was put higher on the agenda for shipowners and stakeholders, and authorities in EEA tested cases on ship recycling under the waste regulations prohibiting export of waste from the EEA ...
Contents Contents Legal framework Security Restructuring Insolvency Cross-border/Groups Liability risk The COVID-19 pandemic Other Trends and predictions Tips and traps Legal framework What domestic legislation governs restructuring and insolvency matters in your jurisdiction? The main legislation governing restructuring and insolvency matters in Jersey is: the Bankruptcy (Désastre) (Jersey) Law 1990 (the "Bankruptcy Law"); and the Companies (Jersey
In the course of regular updates on Russian counter-sanctions, we would like to provide you with information on Decree of the President of the Russian Federation dated November 08, 2023 No. 844 “On Additional Temporary Economic Measures Related to Circulation of Foreign Securities” (“Decree No. 844”). Decree No ...
On September 29, 2023, Decree No. 4, dated January 25, 2023 (the "Regulation"), issued by the Ministry of the Environment (the "Ministry"), was published, coming into force the Emission Compensation System for stationary sources subject to Green Tax[1] (the “System”). The System promotes the development of emission reduction projects (the "Projects") ...
The King's Speech 2023 unveiled an ambitious vision for the future of transportation - heralding a new era of self-driving vehicles in the UK. The speech introduced a comprehensive plan to integrate autonomous vehicles into daily lives, as part of the government's commitment to advancing transportation technology. The proposed Automated Vehicles Bill will provide the Department for Transport with the necessary authority to certify the safety of driverless vehicles ...
Contents Legal framework Security Restructuring Insolvency Cross-border/Groups Liability risk The COVID-19 pandemic Other Trends and predictions Tips and traps Legal Framework What domestic legislation governs restructuring and insolvency matters in your jurisdiction? Parts XXI to XXIV of the Companies (Guernsey) Law 2008, as amended, contain the main statutory provisions relating to corporate insolvencies and reorganisations of Guernsey companies ...
