Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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In the absence of any statutory provision in Jersey addressing how dilapidations claims are to be quantified, the Royal Court's decision in JSSL v Barclays has provided some much needed guidance, particularly in circumstances where there is an acceptance that works to redress dilapidations have not been and will not be carried out.
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On 9 May 2013 the English Supreme Court handed down a unanimous judgment on the seminal cases of Pitt-v- Holt and Futter -v- Futter , with Lord Walker's valedictory judgment conclusively resolving the English position on the rule in Hastings Bass and rescission on the ground of mistake.
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Shook, Hardy & Bacon currently authors the Insurance section of The
In-House Lawyer magazine. For more information and articles from this
author click here .
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Shook, Hardy & Bacon currently authors the Insurance section of The
In-House Lawyer magazine. For more information and articles from this
author click here .
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WilmerHale currently authors the Fraud and Corporate Crime section of
The In-House Lawyer magazine. For more information and articles from
this author click here .
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Burges Salmon LLP currently authors the Environment and Energy section
of The In-House Lawyer magazine. For more information and articles from
this author click here
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Cyprus is the third most populated island in the Mediterranean Sea. It is strategically located at the crossroads of Europe, Africa and the Middle East. Traditionally Cyprus has always been at the heart of the seafaring trade and therefore always functioned as an important centre for trade and commerce. Today as a member of the European Union it remains an optimal business base. It is one of the most attractive locations for foreign investments worldwide. Foreign companies have been given the opportunity to invest and establish business in Cyprus on equal terms with local investors as no distinction is made between foreign and Cypriot companies.
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The excellent support system in combination with the ideal jurisdiction provided in Cyprus set the country in the list of the most desirable countries through which you can offer foreign exchange operations. In addition, the accession of Cyprus within the European Union and, most importantly, the extremely beneficial economic advantages available due to the low costs and the outstanding taxation, create a covetable environment for foreign investors.
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The Presidium of the Supreme Commercial Court of the Russian Federation
(hereinafter - SCC RF) adopted by the Informative Letter No. 156 dated
the 26th of February, 2013 (hereinafter - the Informative Letter) on
Review of the consideration by arbitrazh courts of the cases on the
implementation of the public order clause as the ground for rejection of
the recognition and enforcement of the foreign court decisions and
arbitral awards.
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For
many products, tariff classification can be technically complex,
confusing, and subject to multiple interpretations. Often several
different Harmonized System Codes ("HS Code") may seem applicable for
one given product with different tariff rates. Tariff classification is
indeed a process of application of customs classification rules,
including customs rulings and decisions, and misclassification may
trigger severe legal consequences. The sad fact is, unfortunately, that
many companies rely on non-legal professionals to determine the HS Codes
for imports or exports. A recent interpretation issued by the General
Administration of Customs of China ("GACC") (Circular No. [2012] 495
Shu-Fa-Fa) (the "Interpretation") reinforces the process of tariff
classification as a legal matter, and formulates the test as to what
counts for regulatory violation if tariff classification rules are
improperly applied by the importer or exporter in a given case. If the
legal defense is successful, misclassification may only be treated as a
non-violation misclassification, with the possible obligation to pay up
additional customs duties, if any, but without administrative or
criminal consequences. The Interpretation took effect as from February
1, 2013.
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