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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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This is an important year in Finland on the taxation front. New rules restrict interest deductions and increase the transfer tax related to the sale of shares in housing and real estate. Additionally, two tax incentives support research and development activities, as well as innovation and growth.
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The
Finnish Government proposes that suits related to intellectual property
rights ("IPR") be in future heard exclusively by the Market Court. Bill
124/2012, submitted to the Parliament on 4 October and currently
debated in the Law Committee, contains proposals on new acts on the
Market Court and on proceedings before the Market Court as well as
amendments to various existing statutes.
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Are all members of consortia jointly liable for the entire project or may
they allocate liability and responsibility among them?
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The European Commission has recently introduced two important regulatory packages that seek to respond to the challenges posed by rapidly developing trading technologies, particularly so-called high frequency trading. If the new regulations are adopted as drafted, considerable changes are in store for both those entities that engage in high frequency trading and the trading venues providing them access to the market.
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Lotta Uusitalo, Anne Petäjäniemi-Björklund and Leea Salminen, Attorneys at Law of Procopé & Hornborg, have written a book on the implications of competition law on information exchange.
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The EC waste directive (2008/98/EC) will be implemented in Finland by the new Finnish Waste Act, which will enter into force on May 1, 2012.
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Introduction Robert S Peckar Peckar & Abramson, PC 3
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Written by Martin von Willebrand
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The Finnish CFC legislation implies that a Finnish company may be
subject to income tax for its share of the profit of a CFC regardless of
whether these profits are distributed by the CFC to its shareholders or
not. A CFC is defined as a foreign corporation owned and controlled by a
Finnish tax resident that pays income tax in its domicile at a rate
less than 60% of the Finnish corporate income tax rate.
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The Finnish Supreme Administrative Court decided on 7 March 2011 (KHO
2011:21) to request for a preliminary ruling from the Court of Justice
of the European Union (ECJ) concerning the question whether a Finnish
parent company may deduct the final tax losses of its Swedish subsidiary
after a cross-border merger.
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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Recently, HaoLiWen advised and represented a multinational in initiating the consulting process with MOFCOM, to confirm export shipment of certain goods blocked by China Customs was not an item subject to dual-use item license. The pleading and reasoning prepared by HaoLiWen were accepted by MOFCOM after consultation, which has saved the export business of the client and avoided further investigation by Anti-smuggling Bureau of China Customs into the suspected evasion of dual-use item license.
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holding
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Sayenko Kharenko advises on M&A deal of the year by IFLR Europe Awards 2013.
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Sayenko Kharenko acted as
the legal counsel to Citi Venture Capital International and Apollo ,
private equity firms, on the acquisition of 3 shopping malls in Kyiv, Kharkiv
and Dnipropetrovsk operating under the Karavan trademark.
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Sayenko Kharenko crowned an extraordinary year by carrying off its third "Ukraine Law Firm of the Year Award" at the IFLR's European Awards ceremony held in London on 10 April 2013.
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The Legal 500, an independent guide to law, published its 2013 research last week. Sayenko Kharenko affirmed its reputation as a leading full-service Ukrainian law firm.
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Sayenko Kharenko acted as legal counsel to Credit
Suisse , Deutsche Bank and JP Morgan , the lead-managers of the USD 500 million 8.875% loan
participation notes due 2018 for the purpose of providing a loan to "State
Savings Bank of Ukraine"
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According to the recently released Chambers Global 2013, Sayenko Kharenko maintains its position at the top of the market, being highly ranked in all practice areas researched for Ukraine.
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Sayenko Kharenko acted as Ukrainian legal counsel to Credit Suisse, J.P. Morgan and UBS, the joint lead managers of the USD 175 million Eurobond offering by Privatbank with 10.875% coupon maturing in 2018.
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Sayenko Kharenko acted as legal counsel to a foreign
investment fund on the sale of a majority shareholding in Private Joint-Stock Company "Insurance Company "Kyivska
Rus" to a group of local investors.