As a result of demographic changes and a new surge in wealth, the Middle East has shown an increasing interest in mitigating risk through insurance. Despite concerns as to whether insurance accords with Islamic Sharia principles (which has been somewhat addressed by the set up of Takaful operators). Insurance is now being considered a social …
The past fifteen years have seen several cases in the IT sector in which the UK courts have had to consider the enforceability of contract limitations and exclusions under the Unfair Contract Terms Act (UCTA) 1977. The courts’ approach in these cases (starting with the landmark decision in St Albans City and District Council v …
The effect of health and safety legislation is increasingly being felt by the energy sector, and particularly the alternative energy sector as it has expanded into larger projects over the past few years. The health and safety arena is entering a period of change following Lord Young’s Report (the Report) and the Comprehensive Spending Review …
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Law Decree No 225 of 29 December 2010 (the Decree), converted to Law No 10 of 26 February 2011, has drastically changed the Italian tax regime of domestic and Luxembourgish collective investment vehicles (CIVs), other than real estate investment funds. Before the amendments the CIVs were taxable at a rate of 12.5% on the accrued …
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In the UAE it is common knowledge that many limited liability companies (LLCs) are in fact owned and managed by foreign shareholders, though the legal ownership may reflect differently. It is common for the shareholders to execute ‘side agreements’, as they are commonly known, between them to mirror their real understanding of the ownership and …
Continue reading “Side Agreements in the UAE: Reconciling with the Companies Law”
The risk of insolvency remains a matter of increasing concern to those working in and operating within the construction industry. This article looks at the increasingly disputed area of the ownership of retention sums within the sector, considers the effect of insolvency on construction projects, and the steps that may be taken to try to …
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How can employers prevent their employees from competing with them when their employment contracts end? A non-competition and/or non-solicitation clause often solves this problem, but restrictions also apply to former employees who are not bound by such clauses. Both situations are addressed in this article.
With the recession biting infto Britain’s workforce, the number of disgruntled employees and ex-employees is ever-increasing, as are the means for them to vent their frustrations against their employers in public. This article examines how you can prepare yourself and what you can do to stem the leaks. It is easier than ever to disseminate …
Continue reading “Whistleblowers, WikiLeaks and corporate confidence: how to protect your brand”
The ongoing House of Fraser sale and leaseback litigation (see box on p61), now due to be heard on 14 June 2011 in the Court of Appeal, brings into sharp focus the issues that can arise from the shifting value of covenant strength between different entities within a corporate group.
On 29 March 2011, following a three-month consultation period, the government announced its intention to implement most of the ‘primary’ recommendations set out in Lord Justice Jackson’s report into the costs of civil litigation in England and Wales. Many of the proposals are aimed at solving perceived problems arising in the context of personal injury …
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The concept of grading of initial public offerings (IPOs) in India was first introduced by the securities market regulator, the Securities and Exchange Board of India (SEBI) in 2006 under the erstwhile SEBI (Disclosure and Investor Protection) Guidelines 2000. It provided issuers with an option to get their proposed IPO graded by SEBI-registered credit rating …
The coalition’s ‘Our programme for Government’ states that it is based around three fundamental principles: freedom, fairness and responsibility. While these principles are not described in detail, they could reflect a balanced approach if construed as follows: the freedom of enterprises (and indeed the need for them) to compete; the responsibility of creditors to treat …
Continue reading “Confusion over future regulation for the consumer finance industry”