Legal and tax treatment of the sale of non-performing loans in the Ukraine | Wolf Theiss

Legal Briefing

An improvement in the liquidity of banks, as well as the need for an additional injection of money, became crucial for Ukrainian banks in the aftermath of the recent global financial crisis. An increase in the number of non-performing loans (NPLs) negatively impacted the overall liquidity of Ukrainian banks by forcing them to hold mandatory …

Will high-earners suffer further wealth reductions? | Jones Day

Legal Briefing

It was hardly surprising and perhaps inevitable given the current economic and financial crisis, coupled with a general election, that the government would attempt to find ways to raise funds to repay the public debt, without adversely affecting the majority of voters. One such method devised by the Labour government was to restrict tax relief …

What went wrong? Credit crisis and Islamic finance | Baker & McKenzie Habib Al Mulla

Legal Briefing

the Islamic finance and banking industry has experienced tremendous development in the past three decades. The innovation of various new products and instruments has been a symbol of creativity and interaction between banking consumers, Muslim scholars, bankers, and accounting and legal practitioners. What began as a pioneering idea has now become a well-known industry that …

CRC Energy Efficiency Scheme: issues for corporate lawyers | Charles Russell Speechlys

Legal Briefing

The Carbon reduction commitment Energy Efficiency Scheme (the CRC) became effective on 1 April 2010. A full review of this has already been included in IHL179. However, the CRC will have important consequences that need to be considered by corporate lawyers and, in particular, in relation to corporate transactions, such as M&A and private equity …

Proposals for regulating the sale of food, drink and tobacco | Brodies

Legal Briefing

Amid the coverage of the UK general election and its aftermath, the activities of the Scottish Parliament and Scottish government have dropped beneath the radar. Of course, this will only be a temporary absence, particularly since the Scottish media and political parties will soon have to switch their focus to next year’s Scottish Parliamentary elections. …

How to reorganise a business in the Netherlands | Boekel

Legal Briefing

The current economic situation has forced many companies to reduce costs. Such cost reductions can often only be effected by implementing important changes in the organisation (reorganisation), which most of the time leads to (collective) redundancies. To have a legally valid reorganisation in the Netherlands, there are several statutory requirements to comply with. This article …

Powering British Columbia’s future: the Clean Energy Act | Blake, Cassels & Graydon LLP

Legal Briefing

On 28 April 2010 the British Columbia (BC) government introduced Bill 17, the Clean Energy Act (the Act), into the legislature for its first reading. The Act provides a foundation to assist the province in achieving its goals of electricity self-sufficiency, job creation and reduced greenhouse gas (GHG) emissions. The Act builds on the work …

Future of credit rating agencies: reform ahead? | Norton Rose Fulbright

Legal Briefing

Credit Rating Agencies (CRAs) have recently been on the receiving end of increasingly close scrutiny by regulators as decision-makers on both sides of the Atlantic have asked serious questions of the role and structure of the established CRAs. The ongoing US Senate and New York Attorney General investigations into the financial crisis, together with recently …