The Legal 500

Legal Developments worldwide

• The Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 – Update

  Responding to HMRC’S proposed changes for Guernsey QROPS
  - Carey Olsen

• Gaming & Gambling Law Newsletter January 2012

  Judgment in the Rank Group plc cases (C-259/10 and C-260/10): interpretation of the principle of fiscal neutrality applied to gambling
  - ALTIUS (in cooperation with Tiberghien)

• Ratification of the Framework Agreement between Cyprus and Egypt

  The House of Representatives has ratified on January 27 of 2012 the Framework Agreement between the Republic of Cyprus and the Arab Republic of Egypt relating to the development of cross-median line hydrocarbon resources signed in 2006.
  - Michael Kyprianou & Co

• Hungary: Why is equity protection ineffective in Hungary?

  The Hungarian Companies Act ("CA") and others have long contained provisions to protect creditors. One provision prohibits a limited liability company from paying dividends to its shareholders if it does not have sufficient funds.
  - Schönherr

• FSMA MiFID Action Plan announced

  Like in many of our neighboring countries, the Belgian Financial Services and Markets Authority (FSMA) is taking a more persistent approach in pursuing compliance with MiFID conduct of business. In that regard it has announced a “MiFID Action Plan”.
  - Liedekerke Wolters Waelbroeck Kirkpatrick

• Establishment of an Evaluation Team for Contract of Work and Coal Contract of Work Adjustments

  Presidential Decree No. 3 of 2012 on the Contract of Work and Coal Contract of Work Adjustment Evaluation Team (" Decree ") has been issued on 10 January 2012 in order to establish a team that will evaluate the adjustment of Contracts of Work (CoW / Kontrak Karya ) and Coal Contacts of Work (CCoW / Perjanjian Karya Pengusahaan Pertambangan Batubara ) as required by Article 169(b) of Law No. 4 of 2009 on Mineral and Coal Mining (" Law "). The Evaluation Team will operate from 10 January 2012 until December 2013 (Part 7).        
  - Lubis Ganie Surowidjojo

• SINGAPORE COMPETITION LAW WATCH

  On 23 November 2011, the Competition Commission of Singapore (“CCS”) released an infringement decision against 11 modelling agencies in Singapore for breaching Section 34 of the Competition Act (Cap. 50B) (“Act”). Section 34 of the Act prohibits, amongst other things, price fixing activities.
  - Drew & Napier LLC

• TRADE MARKS CAMPOMAR WINS THE RACE

  The issue before the Court of Appeal was whether the registration of the trade mark NIKE should have been rejected on the ground that as of the registration date of the NIKE mark, there existed another identical earlier mark on the trade mark register. The appellant, Campomar SL ("Campomar"), was the proprietor of the earlier mark and had appealed against the decision of the High Court Judge, who had refused to overturn the decision of the Principal Assistant Registrar of Trade Marks ("PAR"), and allowed the trade mark NIKE to proceed to registration.
  - Drew & Napier LLC

• Exploitation of hydrocarbon resources in Cyprus

  Geostrategic and financial interests regarding gas exploration and exploitation
  - Andreas Neocleous & Co

• Korea Fair Trade Commission Issues Manual on

  International Cooperation in Merger Review
  - Yulchon