Considerable publicity and a sense of shock surrounded a judgment of the Competition Appeal Tribunal (CAT) published on 3 December in relation to a proposed merger of two companies involved in the supply of data systems to the NHS. The judgment focuses on how decisions are reached by the bodies responsible for UK merger control and, in particular, the degree of discretion given to the OFT to clear cases without ordering a full four month inquiry ...
Corporate law issues in Ukraine are mainly regulated by the 1991 Enterprises Act, 1991 Companies Act, 1991 Ownership Act, 1991 Securities and Stock Exchange Act, and 1996 State Regulation of the Stock Market in Ukraine Act. As we can see, the majority of Acts laying down the basic concepts and principles of Ukrainian corporate law date back to 1991, when Ukraine gained its independence ...
On its way to a market economy, one of the primary tasks facing Ukraine is the development of its financial markets and, inevitably, elaboration of its finance laws. Although much remains to be done, the passing year has brought several major developments in the area of finance law: (a) introduction of the anti-money laundering system, (b) tightening of exchange controls and (c) further dramatic growth of the bond market, including the issue of corporate and municipal Eurobonds ...
This Guide is intended to act as a general guide for businesses which are contemplating moving into the United Kingdom.Click on the link below to view the guide ...
Many employers are turning to arbitration in an effort to avoid the costs and inconvenience of litigation. Before implementing a policy requiring employees to submit disputes to binding arbitration, however, employers should consider the advantages and disadvantages of arbitration, as well as the procedural hurdles that must be overcome before an arbitration policy can be enforced against employees. The Advantages: • Arbitration can be less burdensome to employers ...
It is basic to determine the legal status of enterprises in the business world. This becomes more important in different sceneries: when acquiring an existing corporation, investing in a going concern, granting loans, merger of companies, in joint ventures, etc. The term "Due Diligence" refers to the process of exhaustive search of the legal status of a specific enterprise ...
In the commercial scope, the legal representation of limited liability companies is usually exercised by the President of the Board of Directors ...
by Igor Shevchenko and Michael Kharenko, Shevchenko Didkovskiy & Partners The need for corporate governance regulation evolved as Ukraine gained its independence and began its transformation to a market economy. Privatisation of state companies has led to their reorganisation into joint stock companies with a diverse ownership base ...
Modernizing Texas’ Foreign Legal Consultant Rule By Larry B. Pascal Introduction Texas law firms depend on cross-border work for a growing percentage of their revenue. Numerous Texas-based law firms have opened offices outside of the US including offices in Mexico, Europe, Russia and the surrounding Eurasian states, the Middle East, and Asia ...
HOUSTON (Reuters) - Fears that contracts signed with Iraq's interim government could be voided by a new elected leadership have made oil companies wary of entering into deals with the energy-rich country, experts said on Tuesday. "We're seeing some reticence from major oil companies in dealing with the interim government," Lori Feathers, a lawyer with Haynes & Boone, LLP told an energy industry gathering ...
Practically everyday new companies in Ukraine are entering international financial markets through attraction of loans from international financial institutions (IFI), placement of Eurobonds, etc. Some of them would certainly soon start thinking of Initial Public Offerings (IPO) and similar instruments. In this overview the author tries to shed light on some very important but rather hidden prerequisites for success in doing so ...
On October 29, 2004, the Supreme Court of Canada issued its much anticipated decision in the case of Peoples Department Stores (Trustee of) vs. Wise ...
1. Overview of recent corporate governance reforms a. Recent initiatives There have been numerous recent changes in Hong Kong in relation to corporate governance matters, extending well beyond legislation and nonbinding codes. The roles of relevant regulators have also been examined and proposed changes made. As far as legislation is concerned, the most significant change is the introduction of the Securities and Futures Ordinance, which came into force on April 1 2003 ...
Year-end deadline for application to the HKMA to adopt the basic approach and internal rating based approach for credit risk calculation The Hong Kong Monetary Authority ("HKMA") issued a circular ("the Circular") to all Hong Kong incorporated authorised institutions ("AIs") on 7 December 2004, requesting formal applications from AIs that plan to adopt the internal rating based ("IRB") or the basic approach ("Basic Approach") for the assessment of their capital adequacy ...
May a manufacturer fix the price at which its distributor may sell its products (resale price maintenance)? Article 10 of the Federal Enconomic Competition Law sets out in seven paragraphs the activities that are classified as relative monopolistic practices, provided that: (a) the agent in question has substantial economic power in the relevant market; and (b) the purpose of effect of the activity is, or may be, to improperly displace other agents from the market, significantly impede their
Current economic competition legislation has imposed new rules on economic agents that operate in the national market. These rules have changed the nature of the relationships which business may have with competitors, suppliers, distributors, and customers ...
Synopsis - Trial lawyers often find themselves defending one of several defendants in a lawsuit. Depending on the claims and defenses in the case, they may need to communicate with lawyers defending other parties to discuss defense strategy and understand the case from different perspectives. It is critically important for trial lawyers to know and understand which communications are protected from discovery ...
Introduction Patented inventions are a large source of revenue in the pharmaceutical industry. Ireland's tax exemption in respect of certain patent royalties, has been one of the driving factors behind investment by pharmaceutical multinationals, principally from the US, in the Irish economy. Irish tax legislation provides an exemption from tax for income derived from "qualifying patents" when received by a person resident in Ireland and not resident in any other country ...
The UK press reported recently (August 2004) that an unnamed Lloyds TSB customer, backed by the Lloyds TSB Group Union, has complained to the Information Commissioner (the UK equivalent of the Irish Data Protection Commissioner) in respect of the transfer abroad of “sensitive personal data” 1 held by Lloyds about its customers. The government-appointed information commissioner has been asked to rule on whether Lloyds TSB is acting illegally ...
Despite rumours from Westminster that the Pensions Bill was to be dropped to make room for the anti-fox hunting Bill, it looks certain that the Pensions Bill will finally receive Royal Assent in November. In its final form, the Bill now extends to over 350 pages. Those looking for simplification will be disappointed to say the least ...
THE LAW OF DEFAMATION: A PRIMER By Thomas S. Woods* INTRODUCTION Editors, publishers, writers, advertisers and all who are involved in the dissemination of information in written or electronic form should have at least an elementary grasp of the principles of the law of defamation. It is often said that a little information can be a dangerous thing. That truism is difficult to dispute ...
The Securities and Futures Commission ("SFC") have just released their consultation paper ("Paper") on the review of the disclosure of interests regime under Part XV of the Securities and Futures Ordinance (Cap. 571) ("Part XV"). The Paper contains the SFC's proposals for changes to the law on disclosure of interests in shares. Most of the provisions of the Securities and Futures Ordinance was gazetted on 28 March 2002 and came into effect (including Part XV) on 1 April 2003 ...
“Financial assistance” includes granting credit, lending money, providing security for or guaranteeing a loan. (This is the definition in relation to connected transactions, but a similar concept would apply generally.) We will first discuss the treatment of price-sensitive information, in respect of which there is a general obligation ...
This will depend on how much money you are trying to raise and the number of people to whom you intend to offer the shares. The biggest change to the current AIM prospectus will occur if you are raising more than EUR 2.5 million (about £1.7 million) and you are offering shares to more than 100 people. If that is the case, the prospective directive (PD) will apply and the company will need to produce a PD prospectus ...
