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Social and economic problems continue to beset El Salvador and as a result, foreign direct investment (FDI) has dropped from more than $1.5bn in 2007, to less than $500m in 2014. Despite these difficulties, this small and populous country remains industrious: GDP increased by an estimated 2.4% in 2015, driven in large part by an increase in remittance inflows (18% of GDP in 2015) and net exports (a 4% increase from 2014). Moreover, El Salvador’s ‘ease of doing business’ ranking improved 11 places from 2015 to 2016, primarily due to increased access to credit. The Sánchez Cerén administration is seeking to provide financing, infrastructure and upgraded supply chains to approximately 10,000 small and medium-sized businesses in 2016 and is pursuing foreign investment through public-private partnerships (PPPs), yet these goals may prove difficult to achieve amid the current social and economic environment.
Salvadoran lawyers have remained busy, although the domestic conditions are having an impact on the type of instructions they receive from their clients. Corporate teams are concentrating on restructurings, closures, and sales of foreign corporations’ assets in the country, while banking and finance lawyers are focusing on obtaining and restructuring loans amid a constrained economy. Intellectual property lawyers are concentrating on patent and trade mark litigation, as well as customs and anti-counterfeiting enforcement. Arias & Muñoz maintains its position as the market leader with Consortium Legal hard on its heels in a close second. Romero Pineda & Asociados lost a number of key partners in 2015, but remains capable and ranks strongly. Meanwhile, BLP climbed into the Dispute Resolution and Corporate and M&A rankings for the first time – the firm opened its San Salvador office in late 2014 and is already making an impact.
The Legal 500 Latin America - Events
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In Qatar, a new law on Real Estate Property registration and ownership is underway to replace the existing old law.
As an integral part of the Qatari society women are bestowed great consideration in Qatar. According to the constitution all persons are equal regardless of their sex, religion, language, or race. The constitution also warranted the principle of equality between all citizens in public rights and duties. Therefore, no provision in law prohibits women from sitting as arbitrators.
Hidden priorities - Statutory charges and the PPSA
A milestone for New Zealand arbitration
Court of Appeal upholds parties' choice of law in cross-border employment relationship
Corporate Reporter - Issue No. 43
The EU Single Accounting Directive 2013/34/EU, which repealed the 4th and 7th Accounting Directives on Individual and Consolidated Accounts, introduced a simplified procedure for financial statement reporting. This Directive was transposed into Maltese law via legal notice 289 of 2015 in virtue of the ministerial powers conferred on the Minister of Finance in virtue of the Accountancy Professions Act (Chap. 281 of the Laws of Malta).
Transparency International ("TI") has published its regional Corruption Barometer for Europe and Central Asia ("Report") on 16 November 2016.
Is relief in sight for offshore futures dealers from NZ client money rules?
29 November, 2016
Issues about water use regulation, wastewater discharge discussed at VEGAS LEX / FAS Russia workshopOn November 24, 2016, the VEGAS LEX law firm, with the participation of FAS Russia, organized a workshop on the legal regulation and dispute resolution practice in the field of water management, water supply, sewerage and wastewater discharge.
Employers are going to have to adjust to changes in employment contracts. Going forward, claims arising from exclusion clauses shall only be required to be in text form instead of written form.
It is possible even in the absence of an objective reason to apply a fixed term of two years to an employment contract if there had previously been work-from-home arrangements. That was the verdict of the Bundesarbeitsgericht (BAG), Germany’s Federal Labour Court.
Bae, Kim & Lee LLC ("BKL") emerged from the ALB Korea Law Awards 2016 as one of the two biggest winners on the night, receiving highly coveted awards for "Deal Firm of the Year," "Litigation Law Firm of the Year," and "Intellectual Property Law Firm of the Year." In addition, the firm's reputation as advisor of choice on the biggest and most complex deals in the market was confirmed by wins for "Deal of the Year" in nearly all of the awarded categories, while BKL M&A partner Ri Bong HAN was honored as "Dealmaker of the Year" for the second consecutive year.
If it has been agreed that capital from an occupational pension scheme can be paid out in several instalments, the employer can take its bearings from the interest rates of secure forms of investment.
As in the case of a managing director of a German Gesellschaft mit beschränkter Haftung (GmbH) [private limited company], the director of a limited company (ltd.) can also be liable if payments are made after the company becomes insolvent.
On November 17, 2016 VEGAS LEX held a workshop on recent changes and judicial practices in the regulation of procurement by legal entities in the Russian fuel and energy sector.
Mortgage rates continue to fall. In view of this trend, withdrawing from a real estate loan that was taken out from June 10, 2010 onwards could be a financially attractive proposition.
22nd November 2016