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Legal market overview
In the aftermath of the global financial crisis, Honduras experienced a moderate recovery with economic growth peaking at 3.7% in 2010, but political uncertainty and a high level of crime – which has inhibited foreign investment activity – as well as the country’s proneness to external shocks, particularly in the agricultural sector, caused the growth rate to slow to 2.7% in 2014. However, since the investiture of centre-right president Juan Orlando Hernández, the government has been following a more neoliberal approach that has been particularly visible in the mining and renewable energy industries; this has been welcomed by the legal sector, which has enjoyed a steady diet of corporate and finance matters related to wind farms, solar energy projects and biomass power plants, in particular.
Populated by several regional heavyweights and a number of well-regarded local firms, the Honduran legal landscape has been remarkably stable recently. Regional players such as Arias & Muñoz, Aguilar Castillo Love and Consortium - Centro América Abogados remain at the forefront of international corporate and finance advice, but local firms such as Casco-Fortín, Cruz & Asociados, Bufete Gutiérrez Falla & Asociados and López Rodezno & Asociados have also proven able to hold their ground in the difficult market environment. Highly regarded boutique Bufete Forlar Abogados is one of the few law firms with dedicated dispute resolution practices. In IP, the boutique model is the norm, including firms such as Bufete Casco and Bufete Mejía & Asociados.
CLIENT INTELLIGENCE SURVEY 2016
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13 May 2016
A real estate fund is a professionally managed portfolio of diversified real estate holdings. Most real estate funds invest in commercial, corporate or rental properties. Read more…. https://goo.gl/NlCgqS
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June 24 2014
From now on, the ruling commission will decide on the lump-sum allowances concerning costs proper to the employer
The Czech Ministry of Labour and Social Affairs (the "MLSA") recently submitted a new proposal for interdepartmental comment, that will modify the current Labour Code . read more...
The Hungarian arbitration Act (Act LXXI of 1994 on arbitration, “the Act”) has barely “turned 22” and the pressure to replace it with new legislation has popped up. Considering the current, rapid reform of effective laws in Hungary – meaning that relatively new legislation which has been in force for only five to ten years has been set aside to introduce new legislation –the push to introduce new law on arbitration law is no surprise. read more...
Discussions of arbitrators’ powers have riveted the international arbitration community. Practitioners increasingly face situations where arbitrators seem cautious and reluctant to rule on procedural issues. read more...
On April 30 th , 2016, the Turkish Prime Ministry published on the Official Gazette, the Circular No. 2016/10 on Increasing Transparency and Strengthening the Fight against Corruption ("Circular").
10 May 2016
If over the course of its history a company was split up, advertising featuring the company’s history may be misleading. That was the verdict of the OLG Frankfurt (Higher Regional Court of Frankfurt) in a recent ruling (6 U 167/14).
On average, male employees are paid more than female employees. In 2015, men working full-time were paid approximately 9.4% more than women working full-time. As a result, the government is working to introduce measures with the aim of reducing this gap.
It has been announced last week that the European Commission (EC) has published a report on the EU crowdfunding sector, as part of its Capital Markets Union Action Plan. In doing so, the EC has recognised the growing importance of crowdfunding platforms – websites that allow fundraisers to interact with investors and donors – for the improved economic growth and job creation in Europe. Despite being acknowledged as relatively small at this moment in time, its rapid development has been noted, and for that reason, efforts are being made for crowdfunding to be appropriately regulated en route to becoming one of the key sources of financing for small & medium sized enterprises in the future.
Pitmans LLP has acted on behalf of its longstanding client, Westcoast (Holdings) Limited on its acquisition of Art Systems Holdings Limited.
One of the biggest news reports in the region last week was the acquisition of Porto Montenegro , the luxury yacht marina located in Tivat, by the Investment Corporation of Dubai (ICD). The marina was handed over to the new owners during a press conference at the Regent Hotel, where the accompanying protocol was signed by ICD's Executive Director, Sheikh Mohammed Al Shaibani, and the CEO of the marina's previous owner – Adriatic Marinas, Oliver Corlette. The conference was also attended by the Montenegrin Prime Minister, Milo Đukanović, and the Minister of Sustainable Development and Tourism, Branimir Gvozdenović.
The Department of Justice has issued a practice direction in connection with the new insolvency express trials pilot.
Following last year’s autumn statement, HMRC has now published draft legislation which introduces the proposed new apprenticeship levy. The levy will have effect from 6 April 2017.
https://www.karanovic-nikolic.com/knnews/Pages/2016/04/28/Competition-Commission-Joins-Forces-with-tAnother piece of news related to our competition team in Serbia are the recent signings of a Memorandum of Understanding and Agreement of Cooperation in the field of forensics between the Commission for the Protection of Competition and the Ministry of Internal Affairs (MIA).
The Sarajevo Business Forum 2016 (SBF) was, among hosting a number of lectures and discussions, a platform for one of the largest post-war investments in the energy sector in Bosnia & Herzegovina (BiH). The reason for this can be found in the latest reports that an agreement was reached for the EUR 722 million construction of Thermal Power Plant Tuzla's Block 7 between Elektroprivreda BiH and the China Gezhouba Group Corporation , with the official MoU signing taking place on the first day of the SBF 2016. The project financier for the deal in question will be the Export Import Bank of China (EXIM), and the repayment period – together with a five-year grace period, is reported to be 15 years.
Karanović & Nikolić attorneys were among the guests at the Republic of Serbia's Commission for the Protection of Competition's 10 year anniversary celebration, which also included an international conference on the topic of the law and policy of competition protection. The conference was opened by Deputy Prime Minister, Prof. Dr Kori Udovički, President of the Commission for Protection of Competition, Dr Miloje Obradović, President of the National Assembly's Committee for Economy, Regional Development, Trade, Tourism and Energy, Dr Aleksandra Tomić, and European Union Delegate, Steffen Hudolin.