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Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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On 31st December 2010 amendments to the Law Obligations Act (hereinafter LOA) came into force in Estonia, introducing the regulation allowing claiming punitive and preventive damages. Though the new regulation allows exemplary damages to be awarded only in the event of non-proprietary damages, it nevertheless constitutes a general paradigm shift, allowing for a much broader protection of personal rights.
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Until the adoption of Reorganisation Act Estonian legislation did not provide efficient regulation for companies which were in temporary financial difficulties, but could be “rescued” via certain turn-around proceedings to overcome the economically difficult period.
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New Advertising Act has entered into force from 1st of November 2008. The main reason for drafting the new Act was the current situation in the advertising market – the legal regulation of the Advertising Act passed in 1997 needed to be modernized. Requirements for advertising goods and services, which are likely to cause controversy in the society, have been specified. Additional restrictions have been provided for advertising of alcohol products and financial services, while exemptions have been added to the advertising regulation of tobacco products and gambling. The efficiency of surveillance has been improved and additional measures have been taken. Consistency with the EU law is important in order to avoid discrimination of foreign manufacturers and service providers. Drafting a new act was expedient, whereas extensive amendments were to be made to the current legal regulation of advertising.
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The Civil Chamber of the Estonian Supreme Court has thoroughly handled the topics of division of joint property, repeated some earlier principles and given the clear instruction in the proceeding of division of the joint property of spouses in the question of assessment of the value of the company.
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The Estonian Supreme Court handled the taxation of the earnings of the physical persons through the application of the rule of economic interpretation (Taxation Act § 84) in its decision of 6 November 2008. In this case the Supreme Court gave the instructions which circumstances are important for establishing the existence of the objective of tax evasion. This is a significant decision in the cases of transfer of securities, where the tax authority has found that the substance and form of the transaction are not in compliance and in no doubt will have its impact to assessing the tax consequences of corporate restructurings.
The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
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As from 2 May 2012, leading Antwerp-based law firm Astrea has significantly
expanded its Brussels office with the recruitment of new Partner Steven De
Schrijver and team including Senior Associates Thomas Daenens, Jeroen Mues
and Pieter Paepe.
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Delphi is advising OK-Q8 AB on the formation of a new Scandinavian group through OKQ8 AB’S acquisition of shares in Q8 Danmark A/S from Kuwait Petroleum Europe BV. Kromann Reumert in Copenhagen advised on the legal due diligence in Denmark.
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Investment UK- Francophone Africa
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Kyiv, 15May 2012 – Avellum Partners is proud to inform that it has won the Chambers Europe Award for Excellence 2012 for Ukraine and was recognized as Ukraine Law Firm of the Year. The award ceremony was held in Amsterdam on 10 May 2012.
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Sayenko Kharenko acted as legal counsel to European Bank for Reconstruction and Development (“EBRD”) in connection with USD 50 million loan to JSC “The State Export-Import Bank of Ukraine” (“Ukreximbank”).
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Our Client MM Makronissos Marina has successfully completed the execution of the BOT contract with the Government concerning the construction and operation of a Marina and a Real Estate development in Ayia Napa.
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In 1948, Scots Guardsmen shot dead 24 unarmed Chinese labourers in the rubber tapping village of Batang Kali, part of what was then colonial Malaya.
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In a judgment rendered on 30 April 2012 (4A_763/2011), the Swiss Federal
Supreme Court dismissed an application of Çukurova Holding against Sonera
Holding (a subsidiary of TeliaSonera, and at the same time Turkcell's biggest
shareholder) for judicial review of an ICC award between the parties.
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On 27th of March 2012, the Second Kazakh-British Forum on partnership development among suppliers in the oil and gas industry service sector was held in Astana. About 80 Kazakhstan and British companies attended the event.
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Gabrielle Nater-Bass and Melissa Magliana of Homburger's Litigation | Arbitration practice team recently obtained a Partial Award ordering Respondents who refused to pay their share of the advance on costs in an ICC arbitration to make immediate payment to the ICC.