The Gig Economy So you work in the CBD. Here’s your day: You book a Grab car to get to work; as you leave the apartment, the dog walker shows up to take your beagle for a run and a bath. You’re rushing a presentation for a new client and chow down a sandwich at your desk, brought to your office by foodpanda. The client, a tech entrepreneur who's started an online sales portal, calls to ask you to meet at Starbucks because he needs a chai macha latte ...
Disruption. Possibly the most overused word in today's global lexicon, it refers to the upheaval that is created when a new business (these days, usually founded by a smart alec entrepreneur) uproots an established method of delivering a product or service. Think Spotify, a music-streaming business that has sounded the death knell of CDs. It has, as its most vocal opponent, pop star Taylor Swift, who felt that it did not adequately value her art ...
A recent article in the Financial Times caused some raised eyebrows in the fund finance market by implying that subscription line facilities create substantial risks to banks and investors. The article references a memo on Oaktree Capital’s website by Howard Marks, Oaktree’s co-chairman and founder, in which he discusses some of the perceived costs and risks associated with such facilities. If readers dig into the memo, they will find that Mr ...
The Financial Oversight and Management Board for Puerto Rico recently filed a voluntary petition for relief on behalf of Puerto Rico in federal court there. The filing required the Chief Justice of the United States to designate a district court judge to conduct the case. In recent months Chief Justice Roberts appointed District Judge Laura Taylor Swain of the Southern District of New York ...
In Mendoza v. Nordstrom, Inc., the California Supreme Court responded to questions posed by the Ninth Circuit concerning the interpretation of California’s day-of-rest statutes, which are found in Labor Code Sections 550-558.1. Initially, former Nordstrom employees filed a Private Attorneys General Act action, alleging that Nordstrom had failed to provide guaranteed days of rest to its nonexempt employees in California ...
The question of the scope of the cost-sharing VAT exemption, also referred to in the Council Directive 2006/112/EC of 28 November 2006 as amended ("EU VAT Directive") as "Independent Groups of Persons" or "IGPs", is currently being debated at the Court of Justice of the EU ("CJEU") in several cases. Last Thursday marked the first milestone regarding this specific VAT exemption since the CJEU released its judgment in the case Commission v Luxembourg (C-274/15) ...
The Chilean Economic Development Agency, Corfo, and the Foreign Investment Promotion Agency, InvestChile, have announced the opening of the first call for national and foreign companies, to express their interest in manufacturing lithium products, such as battery cathodes and electrolytes. Companies that are selected will be guaranteed 25 per cent of US producer Albemarle’s lithium production at the lowest cost available in the market ...
The recent storm in the UK about Scottish craft brewing company BrewDog’s decision to invoke its trade mark rights against much smaller rivals highlights the difficulties and negative repercussions that can arise when it comes to enforcing trade mark rights. BrewDog has been extraordinarily successful ...
The Labour Appeal Court ("LAC") judgment in Liberty Group Limited v MM is a reminder to employers to be vigilant when dealing with allegations of sexual harassment in the workplace and to ensure that managers are equipped to deal with reports of sexual harassment. A failure to do so can be a costly mistake, as the employer in this decision learnt ...
In 2014, a South African court convicted Paralympian Oscar Pistorius of culpable homicide (manslaughter), following the shooting of his girlfriend Reeva Steenkamp, and he was given a custodial sentence of five years. The conviction was later replaced with one of murder and his sentence increased to six years imprisonment ...
Two recent developments, one positive and one negative, highlight some of the serious issues that face copyright. The positive development is that UK courts have again shown that they are prepared to deal decisively with difficult copyright issues posed by the electronic age ...
It seems absurd that South Africa’s Supreme Court of Appeal (“SCA”) should be called on to decide what the word “between” means. But that’s exactly what happened in the recent patent case of Orica Mining Services v Elbroc Mining Products. In the process, the SCA very clearly opted for a purposive interpretation of patent claims. The two parties involved, Orica and Elbroc, supply goods to the mining industry ...
Recent developments in the UK regarding plain-packaging requirements for cigarettes have again shone the spotlight on this contentious issue. A while back, we reported on developments in Australia, where the country’s Tobacco Plain Packaging Act, 2011 requires tobacco companies to sell their products in identical olive green packs, with graphic images reflecting the possible health consequences of smoking, and the brand name (sans logo) in very small script ...
Once legal proceedings relating to a debt have started, does the subsequent substitution of one of the parties affect the prescription period for the debt? This was the crux of the recent Supreme Court of Appeal ("SCA") case of Sentrachem Limited v Terreblanche. A substitution occurs when a party to legal proceedings is replaced by another party, with no effect on the cause of action ...
The Croatian Competition Agency (the "Agency") initiated proceedings against Grand Auto – an authorised dealer of Land Rover and Jaguar cars for Croatia, after an initiative by the Auto Dealership "Karlo", a former authorised repairer of the said cars for Croatia ...
Following recommendations from a working group formed by the Ministry of Transportation, Ports and Civil Aviation (MTPAC) and discussions with representatives of different interested parties, President Michel Temer recently signed a decree changing the regulations of (Ports Law) ...
As reported previously in a Newsletter to readers, the City in its continuing efforts to increase the housing stock now allows the addition of one or more in-law units in almost all zoning districts that allow residential uses, notwithstanding the density limit of the zoning (such as RH-2 and RH-3 zoning). These in-law units are known as Accessory Dwelling Units (ADU) and they are created within unused or underutilized space entirely within an existing building ...
The Battleground: On one side of the battlefield, positioned on the lofty heights of moral superiority, the asset managers (and academics) lob propaganda leaflets pointing out their greater firepower in the form of smug principle and the dollar value of their total assets under management. Their opponents are a motley crew. There are the Startup Upstarts, whose uniform is expensive sneakers and untidy man-buns ...
An overview of mergers and acquisitions in Poland. The process, structure and parties to M&A deals, legal restrictions and tax aspects, discussed clearly and accessibly. What to bear in mind, and what details require special focus. The M&A practice at Wardynski & Partners has prepared a guide to mergers and acquisitions in Poland. In less than 60 pages, we highlight the issues vital to the success of the deal ...
The Davis Tax Committee (“DTC”) issued a media statement on 25 April 2017, calling for written submissions on the introduction of a possible wealth tax in South Africa. This proposal comes two months after an increase in the top income tax bracket for individuals by 4% to 45%, resulting in an effective capital gains tax (“CGT”) rate for individuals of 18%. This should be seen on the back of the increase the CGT rate by nearly 5% from 13 ...
BENIN: Public Procurement Holders to Benefit from a Tax Regime Derogating from Indirect Taxation The 2017 budget law introduced a derogatory tax regime from which certain public procurement holders may benefit by the Benin tax authorities, assuming indirect taxation. This includes customs duties, internal taxes on turnover (mainly value-added tax ("VAT")) on prices and values of goods and supplies acquired or incorporated into the realisation of the contract ...
In terms of paragraph 19(1)(b) of the Fourth Schedule to the Income Tax Act, 5, 1962 (the "Fourth Schedule"), every company that is a provisional taxpayer shall, during every period within which provisional tax is or may be payable by it as provided in terms of the Fourth Schedule, submit to the Commissioner of the South African Revenue Service ("SARS", a return of an estimate of the total taxable income which will be derived by the company in respect of the year of assessment i
On the morning of 26 April 2017, the usual rumble of South African Airways (“SAA”) flights taking to the skies was interrupted by a strike by cabin crew employees, organised by their trade union, the South African Cabin Crew Association (“SACCA”). Due to strict civil aviation regulations, the strike resulted in a significant number of flights being cancelled, which, in turn, caused massive inconvenience for passengers ...
A recent South African Commission for Conciliation, Mediation and Arbitration (“CCMA”) ruling has provided clarity on issues of deemed employment in circumstances where multiple contractors are used. The matter before the CCMA involved Shoprite, one of the largest food retailers in Africa. In order to provide its approximately 2,000 stores with stock in an efficient manner, Shoprite established seven distribution centres (“DCs”) in South Africa ...
In line with international models, South Africa has attempted to incentivize investment into the development and renewal of certain urban areas. One of these incentives is the accelerated tax depreciation allowance, introduced in 2003 by section 13quat of the Income Tax Act, 1962 and is commonly referred to as the Urban Development Zone ("UDZ") allowance ...
