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Sri Lanka > Law firm and leading lawyer rankings
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Overview
Following elections in 2015, the government has focused on stabilising the economy. A progressive relaxation of tough restrictions on – especially foreign – investments has been implemented, most notably with the enactment of the Foreign Exchange Act in July 2017. This replaces the Exchange Control Act and liberalises restrictions applying to funds from outside the country, giving locals greater chances of conducting business abroad while at the same time encouraging foreign companies to bring their operations to Sri Lanka. There has been significant investment in the infrastructure sector based on high-level commercial borrowing, especially foreign currency. In this regard, China and India have shown considerable interest in the country. Ongoing liberalisation of foreign investment restrictions may be extended to various sectors, particularly shipping.
Despite the opening up of some industries in the Sri Lankan market, the legal market remains closed to international law firms, which are prohibited from operating in the country, and consists entirely of Sri Lankan law firms. Julius & Creasy and Nithya Partners lead across a wide range of practice areas. D. L. & F. De Saram and F. J. & G. De Saram are also major names to note.

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Legal Developments worldwide
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One Step Closer to EU Approach: Amended Guidelines on Vertical Agreements
The Turkish Competition Authority (" Authority ") completed its work in progress on revising the Guidelines on Vertical Agreements (" Guidelines ") that was issued based on the Block Exemption Communiqué on Vertical Agreements (" Communiqué No. 2002/2 "). It took approximately 2 years for the Authority to finalize its work. The Authority has published the updated version of the Guidelines on its official on March 30, 2018 (Friday). Below is the summary of amendments made in the Guidelines: -
The Companies Act 2015, Part II: Director's General Duties - Greater Responsibility and Even Greater
The new Companies Act 2015 has gone to great lengths to usher in reforms particularly in the management of companies by clarifying the duties of directors, identifying actions to determine their unfitness for their role and penalties for the breach of their duties either by action or inaction on their part. A director now must not only grasp the new duties owed by a director under the Act but also comprehend the consequences of breaching these duties. -
The Companies Act 2015, Part I: The Game Changer
The Companies Act 2015 (the “Act”) was published on 18th September 2015 and will eventually replace the previous Companies Act which had been in place for over 50 years [1] . The Act is one amongst other statutes including the Insolvency Act 2015 [2] recently enacted for the purpose of modernizing the laws regulating Kenya’s business environment. The Act aims to: -
But It’s My Land! – Ways Through Which the Right to Land Can Be Lost
The ambers of the often emotive and confrontational issues relating to land ownership and land use in Kenya lingers on. -
The Companies Act 2015, Part III: Shareholder Gains & Management Oversight
Several changes have been introduced by the Companies Act 2015 that will impact greatly on shareholders. The changes seek to combat shareholder apathy particularly in decision making in public companies, provide greater access to corporate information to enhance transparency, embrace the benefits of the digital era in communication to shareholders and regulatory procedures. More importantly, the Act seeks to balance the rights of shareholders as owners, and the duties of directors as managers of the company whose loyalty is to the company and not a single shareholder. -
Category 1 Status: A Milestone For Kenya’s Airspace
On 27 th February 2017, Kenya was granted Category 1 status by the Federal Aviation Authority of the United States of America hence paving the way for direct flights between the two countries. A Category 1 status rating means that the Kenya Civil Aviation Authority (KCAA) meets International Civil Aviation Organisation (ICAO) standards. The country has been granted the status after complying with international safety standards under the agency’s International Aviation Safety Assessment (IASA) program. -
Turkey Regulates Broadcasting Services Provided Through the Internet
I. Introduction -
Quarterly Update on Trade Defence Cases in Turkey (March 2018)
In Turkey, the authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio , is given to the Ministry of Economy ("Ministry"). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette. -
FAILING TO PREVENT BRIBERY
Following the first conviction of a company for failure toprevent bribery, Aziz Rahman considers the implications of the case for thosein business. -
MONEY LAUNDERING AND THE GAMBLING INDUSTRY
With a bookmaker being ordered to pay millions for failingto prevent money laundering, Nicola Sharp and Syedur Rahman examine how thegambling industry can tackle the problem.
Press Releases worldwide
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Montenegrin Competition Agency takes over State Aid control
As of recently, state aid control is a part of the Montenegrin Competition Agency 's (the " Agency ") scope of authority. The Montenegrin Parliament enacted a new State Aid Control Law (the " State Aid Law "), largely aligned with the EU legal framework - especially with Articles 107 and 108 of the TFEU. In the institutional sense, the new law grants the Agency the competence for reviewing state aid, since the former State Aid Commission was not considered a sufficiently operationally-independent authority - which represented an issue in Montenegro's EU accession negotiations (Chapter 8). -
Your Thoughts: Crypto Confidence
http://arnon.gitta2.comrax.com/sites/default/files/Finance%20Monthly%20-%20Your%20Thoughts%20-%20Crypto%20Confidence%2003.04.2018.pdf -
Prohibition of competition – BGH bolsters commercial agents’ rights
Commercial agency agreements often include a prohibition of competition, also known as a no-competition clause. Notwithstanding this, certain clauses in the general terms and conditions may be invalid, as is clear from a ruling of the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court (Az.: VII ZR 100/15). -
Bär & Karrer Advised Copernicus Holding on the Establishment of its Structure and Obtaining a FINMA
Copernicus Group is a financial service provider in the canton Ticino for institutional and private UHNWI clients, offering also family office and wealth planning services. The group consists of Copernicus Asset Management SA and Copernicus Wealth Management and Services SA. On 20 March 2018, Copernicus Asset Management started operating as a fully licensed Swiss asset manager of collective investment schemes. -
OLG Düsseldorf – Deletions in a will need to be ambiguous
If a testator removes parts of his will, these deletions should demonstrably come from him. Otherwise, the deleted passages might still be effective. -
Sayenko Kharenko advised the world’s largest brewing corp. in respect of creating of a joint ventu
Sayenko Kharenko advised the world’s largest brewing corporation in respect of creating of a joint venture -
Foyen assist NetNordic in acquisition of Efftel
13 April, 2018 -
Karanović & Nikolić Recognized as Top Tier Law Firm by Legal 500
We are proud to announce that Karanović & Nikolić and its cooperating lawyers have once again been recognized as a top tier legal practice on the 2018 Legal 500 list of leading law firms. This prestigious UK-based directory provides comprehensive worldwide coverage on recommended law firms. -
During his participation with the Qatari trade delegation
Mr. Jumah Nasser Al Kaabi, Director of Gulf Legal Consultants, during his participation with the Qatari trade delegation accompanying the Emir's visit to the U.S. -
جمعة الكعبي للعرب
جمعة الكعبي للعرب