In the course of regular updates on Russian counter-sanctions measures, we would like to provide you with summarized information on: new Official Clarifications published[1] by the Ministry of Finance on October 14, 2022; and new Presidential Decree No. 737 published on October 15, 2022. The above have hugely updated the current counter-sanction FDI regime in Russia, in particular, new transactions requiring counter-sanctions approval were added (e.g ...
Yuppies – do they confuse you? Late last year, the South African Supreme Court of Appeal (“SCA”) handed down an important trade mark judgment in Yuppiechef Holdings (Pty) Ltd v Yuppie Gadgets Holdings (Pty) Ltd. The case dealt with that thorny issue that bedevils so many trade mark cases – confusing similarity. The facts were fairly straightforward. Yuppiechef is an online retail business that specialises in kitchen and household goods ...
In our previous articles (part one, part two and part three), we discussed ways in which trademarks are maintained and protected through filings that are mandatory and which filings would result in abandonment or cancellation if not timely submitted. There are also optional filings a trademark owner can take advantage of to optimize and secure its rights under a U.S. trademark registration. An Affidavit of Incontestability Under Section 15 is one such method ...
FAQ on the Belgian Pre-Contractual Information in the Framework of Commercial Co-operation Agreements Act of 19 December 2005.Belgium has a specific legal regime protecting the economically weaker party in certain commercial partnership agreements (i.e. the Pre-Contractual Information in the Framework of Commercial Co-operation Agreements Act of 19 December 2005 – “the Act”) ...
You may already be aware of a new federal law called the Corporate Transparency Act (the CTA), which became effective on January 1, 2024. The CTA was enacted as part of the National Defense Authorization Act and mandates that certain business entities (“Reporting Companies”) report identifying information to the Financial Crimes Enforcement Network (FinCEN) ...
In Texas, tenants who are obligated to reimburse property owners for property taxes have a right to protest the appraised value of the property if the property owner does not file a protest relating to the property. To facilitate this right, the Texas legislature enacted a law (Section 41.413 of the Tax Code) that requires the property owner to give all such tenants a copy of the notice of appraised value received by the property owner within 10 days of receiving the notice ...
In a recent case, the High Court took the opportunity to restate the law on misrepresentation and the importance of demonstrating that an innocent party has actually relied on a misrepresentation. In Leeds City Council and others v Barclays Bank PLC and another [2021] EWHC 363 (Comm), the High Court preferred the Defendant’s interpretation of the applicable test and struck out the Claimants’ claims for misrepresentation ...
Parties in the process of arbitrating disputes, thinking of commencing arbitration, or even thinking of including arbitration provisions in a contract have been given a lot to think about, thanks to the changes introduced by Decree 34 of 2021. It is early days yet, and we need to see how matters develop. With that caveat out of the way, here is a rough guide of what Decree 34 could mean for parties in arbitration in the UAE ...
Not surprisingly, COVID-19 business interruption insurance disputes dominated media headlines for most of 2020. Nonetheless, there were a number of other insurance rulings that will undoubtedly shape the coverage landscape. Policyholders enjoyed a number of significant wins including significant victories related to COVID-19 business interruption cases. The start of a new year gives us an opportunity to highlight some of 2020’s most notable coverage decisions ...
2020 has been a year of new challenges and uncertainty due to the Covid-19 pandemic. Despite these turbulent times, the Norwegian real estate market has remained relatively stable and strong. According to the last known reports and statistics, we see a total transaction value that has surpassed NOK 51 billion in 2020, compared to NOK 100 billion in 2019. The project finance facilitators remain more active than ever ...
To avoid a complete halt in critical functions in society, the government proposed a new law, the Corona Law, which provided the government with the authority to give regulations that were contradictory to statutory law. The most prominent feature on the field of litigation was the court’s new ability to decide that an oral hearing should be held by the use of videoconference. Furthermore, the Supreme Court also showed their ability to adapt quickly to the new situation ...
Trends IT contracts An increasing number of clients have requested aid in purchasing either cloud service technology or offering cloud services to the market. We have seen a significant shift from on-premise solutions (i.e. local servers on customer premises) to public cloud and multi-tenant cloud solutions. Initially, customers pushed suppliers to offer cloud solutions. Now we see the opposite: suppliers pushing customers (who are not always ready for this) into the cloud ...
The transaction pace and volume of 2021 was the silver lining of the Covid-19 overcast, keeping our clients and us busy and productive. Particularly the container ship market has been steaming hot, with rapidly increasing prices and high transaction volume. The bulker market has also seen the highest prices for the last decade, with correspondingly high transaction volume ...
The first half of 2021 was marked by the highest level of commercial real estate transactions ever. The latest reports and statistics show that this trend has continued in the last six months, and the total transaction volume is likely to exceed NOK 130-150 billion. This surpasses the record year of 2015, when the total transaction volume for commercial real estate was NOK 129 billion. The pandemic caused increased use of home office ...
First of all, we are proud of Jan Magne Langseth and Christian Reusch who assisted Bank Norwegian in a principle matter before the Supreme Court of Norway between Ikano Bank et al versus Bank Norwegian. The case concerned the use of competitor’s brands in key word advertising on Google ...
Media DNS-blocking of gaming sites proposal The Ministry of Culture submitted a proposal on 21 September 2021, which seeks to give the Norwegian Gambling Authority cause to force ISPs to enforce DNS blocking of unlicensed gaming sites that market their services to Norwegian players ...
Record number of fines in 2021 At European level, a record number of fines have been issued during 2021 for violating the EU General Data Protection Regulation (GDPR). Since the GDPR entered into force in the EU on 25 May 2018, the supervisory authorities have imposed or notified fines in approx. 900 cases with an accumulated amount of approx. EUR 1.3 billion. As many as 500 of these cases are from 2021 with accumulated fines of as much as EUR 1 ...
Gap between buyers’ and sellers’ valuation In the first weeks of the COVID-19 pandemic, the transactions market slowed down, and many drew similarities to the M&A and IPO markets in the aftermath of the financial crisis in 2008. In March 2020, many deals were aborted or shelved as buyers’ and sellers’ price expectations did not meet. The uncertainty of the pandemic led to the traditional tools for bridging valuation gaps between parties being rendered useless ...
We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors. It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing ...
Until recently there was a significant amount of confusion and uncertainty on whether or not it is trade mark infringement for a search engine to allow certain 'keywords' to be sponsored by a third party who is not the trademark owner. The above scenario was encountered in the recent case of Wilson v Yahoo UK Limited where Mr Wilson was the owner of several Community trade marks under the name 'Mr Spicy' ...
