The Localism Bill, which is now going through Parliament, has been highlighted by the government as a driver of housing supply improvement and sorely needed growth in the regions independent of financial wizardry. There has been much comment recently about whether localism will take us to the right place and really generate growth.
After an eventful end to 2010 for UK immigration practitioners, February 2011 saw the UK Border Agency (UKBA) publish a document entitled ‘Statement of Intent, Transitional Measures and Indefinite Leave to Remain’ (the statement).
The International Chamber of Commerce (ICC) sets standardised international commercial terms, the so-called Incoterms® rules, to facilitate international trade. The Incoterms are frequently referred to, for instance, in general terms and conditions, as well as in sales agreements governed by Dutch law. The former Incoterms were drawn up in 2000 and now a new version …
Continue reading “New Incoterms: Incoterms® 2010 rules A brief look at the principal changes”
VAT is potentially a significant cost of outsourcing for businesses in the financial services sector. Several methods are used to eliminate or reduce this VAT cost. This article highlights some recent and prospective changes to VAT law and its interpretation, which affect outsourcing transactions.
The term ‘SLAPP’, which stands for strategic lawsuit against public participation, was coined by two University of Denver professors, Penelope Canan and George W Pring. A SLAPP suit is usually meritless in that it ‘is intended to intimidate and silence’ a party from engaging in free speech, by burdening them with the cost of a …
A peculiarity in austrian law is the Austrian Stamp Duty Act (GebG). The Act contains a list of agreements, such as suretyships, settlement agreements, assignments of rights and rental agreements, which are subject to stamp duty if a ‘written deed’ is executed in Austria, or if any link to Austria exists. However, the Act itself …
Continue reading “Beware: unprinted e-mail could prompt stamp duty in Austria”
In the recent Lomas & Ors v JFB Firth Rixson Inc & ors [2010], the joint administrators (the administrators) of Lehman Brothers International (Europe) (LBIE) applied for directions as to the true meaning and effect of certain terms under interest rate swap agreements (the swaps), governed by the International Swaps & Derivatives Association (ISDA) Master …
Where a contract is formed on the basis of a mistake as to the law or certain facts, the contract can potentially be deemed void from its inception. In certain circumstances, however, the court has the authority to remedy the mistakes, by construing the contract in a way that will correct the mistakes, or by …
Continue reading “Make no mistake: High Court refuses to rectify erroneous contract”
Two recent high-profile cases involving BSkyB/News Corporation and Ryanair/Aer Lingus have highlighted the importance of the merger control rules. These cases have also demonstrated the extensive scope and potential flexibility of the UK merger control regime and why anyone considering the acquisition of even a minority stake in a business may need to consider competition …
Continue reading “BSkyB / News Corp and Ryanair / Aer Lingus: The Long-Reach of UK Merger Control”
On 6 January 2011 The Emirates Securities and Commodities Authority (ESCA) released a new draft regulation on investment funds in the UAE (the Regulation) for public consultation. The deadline for submitting comments or responses to ESCA is now closed, and it is expected that the Regulation will soon be discussed and approved by ESCA. It …
Continue reading “UAE investment funds: proposed regulations”
It’s Friday, 8:30 AM, and you’re eating breakfast at your desk. Overnight you have received an urgent e-mail from Bob Shine, vice-president of Business Affairs. Bob is based in your head office several time zones away. For the past nine months you have been assisting him with due diligence in the divestment of one of …
Continue reading “Enforcing Trade Marks Online – Stemming the Flood”
With much of the Arab world going through political and social upheaval, oil and commodity prices rising sharply, and sky-rocketing food prices putting much of the world’s population back into extreme poverty, the risk of increased civil unrest occurring across the globe is a real possibility. In anticipation of such an event, multinational companies need …
Continue reading “How does insurance respond in times of social and political upheaval?”