On 22 May 2013, the European Council met in Brussels to discuss two matters that are crucial for the recovery of the EU economies: energy, and tax fraud and eva-sion. This briefing looks at the Council’s conclusions on energy.
Choosing Russian law as governing law for M&A transaction as a trend in M&A activity has recently been discussed widely in the context of the state’s proclaimed policy to this effect. This trend could be set in motion in the context of the government’s de-offshorization policy in conjunction with plans to privatize state-owned assets. The prospective privatization plan includes quite a long list of major companies which will be sold entirely or where the state intends to reduce its stake.The privatization methods will be set individually for each of the companies.
On 5 February 2013 Order No. 284 of the Russian Ministry of Telecom and Mass Communications dated 6 December 2012 (the “Order”) entered into force. This has significantly changed the requirements for constructing PSTN.
new laws re-codifying Czech private law are set to change the country's
current legal order entirely. The current order (i.e. Act No. 40/1964
Coll., Civil Code; Act No. 513/1991 Coll., Commercial Code; Act No.
97/1963 Coll., on International Private Law) will be abolished entirely
and replaced with new laws of symbolic numbers: Act No. 89/21012 Coll.,
New Civil Code; Act No. 90/2012 Coll.; on Corporations; and Act No.
91/2012 Coll., on International Private Law. As one of the largest legal
overhauls of the Czech Republic's laws in recent decades, this
development is indeed an admirable achievement. Of course, nothing new
comes into this world without difficulties.
1 January 2015 will be a key date in many forthcoming disputes between landlords and tenants as to who is to bear the cost of replacing air conditioning systems. On that date EU Regulations come into effect prohibiting the use of R22 (and other gases) when maintaining air conditioning systems.
In this briefing we look at the potential impact on the offshore world of the Supreme Court's judgment in Pitt –v- Holt and Futter –v- Futter concerning the so called 'rule in Re Hastings-Bass' and mistake, and in particular consider the likely reaction by the courts and/or legislatures of Jersey, Cayman and Guernsey.
Recently Guangdong Provincial Administration of Industry and Commerce ("Guangdong
AIC"), a local administrative authority supervising business operations
in its territory in China, revealed a list of jewelry manufacturers and
distributors selling defective jewelry products in 2012. Some of
internationally reputable jewel brands appeared on the list for
non-compliance with Chinese labeling laws, regulations or standards, or
for incorrect or improper engraving and/or labeling practices. As a
result, Guangdong AIC slapped a large amount of fines on those companies
and ordered them to recall all the defective products from the market.
This exhibits how improper labeling has affected sale of products in