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Legal market overview
In terms of political stability and social peace, Costa Rica can clearly be seen as a role model in the Central American region, which, in combination with its steadily growing and export-orientated economy, continues to draw foreign investors to the country. With current economic growth running at 4.4% and its proactive and continuous opening to international trade agreements (such as its most recent free trade agreement with Colombia in April 2014), the country’s industrial and agricultural sector continues to flourish – despite some concerns about the country’s current tax deficit.
This sustained and relatively healthy economic landscape has facilitated the establishment, development and growth of a sophisticated legal market, increasingly dominated (certainly in the core banking and finance, and corporate areas) by regional firms including Arias & Muñoz, Consortium – Laclé & Gutiérrez, Pacheco Coto and BLP; the latter increased its local presence in mid-2015 by opening a third Costa Rican office in Guanacaste, and also strengthened its competition and IP practices via a merger with boutique firm Weinstok Abogados. Other key regional players include Aguilar Castillo Love, Gómez y Galindo - LatamLex, CENTRAL LAW Costa Rica and Lexincorp with further stiff competition coming from strong local practices such as Facio & Cañas, LLM Abogados, Sfera Legal and Zürcher, Odio & Raven.
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Managaing Intellectual property has come up with its IP Stars 2016 guide on Patents and Trademarks & Copyright and has recozined its senior practitioners under the following categories:
Anand and Anand has been recognized amongst the FT25 Asia Pacific Headquartered law firms in the FT Asia-Pacific Innovative Lawyers 2016 Report.
ANAND AND ANAND convened a meeting with the ICC and BASCAP officials on 17th May 2016 for assessing the BASCAP 25 Best Practices vis-a-vis the level of copyright and trademark enforcement and protection in India. The discussion panel involved representatives from leading brands and Mr. Pravin Anand who suggested inputs to the proposed document. The document will be submitted to the Indian Government ahead of the BRICS Summit in October 2016.
Yuliya Chumachenko, Partner, AEQUITAS Law Firm- AEQUITAS
On 1 January 2015 the act to amend regulations for partnerships, as defined under the Austrian Civil Code (GesbR-Reformgesetz – GesbR-RG, BGBl I 83/2014), entered into force. read more...
The brand new Contract Register Act came into effect on 1 July 2016 (the Act). After 1 July 2016, contracts concluded with certain subjects, such as the state (the Czech Republic), state fund, etc., need to be published in the register of contracts (the "Register").If a contract is not published in the Register within three months of its conclusion, it is considered invalid from the outset (as if the contract was never concluded). read more...
It is well known that before making significant managerial decisions, the general director must obtain approval from the shareholders or the board of directors. Apart from that, if a director is personally interested in entering into a transaction, approval is also required to proceed with the transaction. In the absence of such an approval, the transaction can be challenged and, in certain circumstances, invalidated. In order to minimize such risks and to eliminate legal uncertainty for the parties to the transaction, the rules governing major transactions and interested transactions must be sufficiently clear. Previously, however, the application of these rules was associated with a large number of controversial legal issues, which were finally solved as a result of the legislative amendments, which will enter into force on January 1, 2017. According to the new amendments, the distinction between major and non-major transactions has been delineated more clearly, parties have been allowed more flexibility in relation to approving transactions, the burdensome obligation to obtain prior approval of interested transactions has been abrogated, and finally the procedure for challenging transactions in question has been made much more complex. Overall, the changes should have a positive influence on business, as they contribute to the establishment of firm legal certainty in this area of the law.
As an employer it is vital that you are informed on new labour law related issues that could negatively affect your organisation. In this legal insights we explore a number of these important legal points. read more...
Until very recently the Swiss asset management industry relied exclusively on self-regulation and was allowed to operate and develop somewhat independently from European regulation. It is now confronted with major regulatory changes which will align Swiss laws and regulation with AIFMD and MIFID. Gone are the days where Swiss asset managers could be independent and unregulated. Swiss asset managers will now be subject to EU-like forms of authorisations and prudential supervision which will have a transformative impact on the Swiss asset management industry and bring additional costs, most notably compliance and operational costs, which will invariably adversely affect smaller independent asset managers.
BY: Sidharth Goyal & Anita Aswal
Goltsblat BLP, the Russian practice of the international law firm Berwin Leighton Paisner (BLP), is providing advice and legal support to AFG National on raising up to RUB 9 bn from the Russian Direct Investment Fund and a number of Middle East investment funds. AFG National is a leader on the Russian agricultural product market.
A “Berliner Testament” is a popular form of will in Germany among spouses, as it enables them to provide each other with financial security and mutually appoint one another as sole heirs. However, it also entails disadvantages such as its strong binding effect.
At the end of March, the Bundeskartellamt, Germany’s Federal Cartel Office, imposed fines amounting to around 21 million euros against the so-called “Sanitär-Kartell” (cartel in the sanitary sector) on account of anti-competitive agreements.
Withdrawal can prove to be an extremely attractive proposition from a financial perspective, even for consumers whose loans have already been paid off. That being said, withdrawal should certainly be carried out before June 21, 2016.
Baker & Partners, a specialist litigation and dispute resolution practice based in Jersey, has been approved on-going by the Bar Standards Board to offer a pupillage each year.
Anyone who withdraws from a real estate loan concluded between 2002 and 2010 stands to potentially benefit from low interest rates and save a lot of money. Having said that, withdrawal only remains an option until June 21, 2016.
Attorney-at-law Alexander Stefanov, a Junior Partner in the Penkov, Markov & Partners law firm was awarded the first place in a contest organized by the Standard Daily newsletter under the name “The New Generation: The Lawyers” at the awards’ ceremony held in the Sofia University.
Tax investigators have apparently been sifting through the Panama Papers in the hope of rumbling suspected tax dodgers. There is still time to submit a voluntary declaration that can lead to immunity.
Recently, the Financial Times (“FT”) issued its FT Asia-Pacific Innovative Lawyers Report 2016. For the first time, Kim & Chang has broken into the top 5 ranking in the “FT Law 25 - Asia-Pacific Headquartered Firms” category, ranking 5th among the top 25.
Kim & Chang has been awarded "Korea Law Firm of the Year" by Who’s Who Legal Awards 2016 held by Who’s Who Legal, an international legal media affiliated with Law Business Research. This is the eleventh consecutive year that our firm has been honored for this recognition.