The Clean Slate Doctrine and the tax quandary
Background The Clean Slate Doctrine is a key legal principle embedded in the Insolvency and Bankruptcy Code, 2016 (“IBC”), which plays a pivotal role in the corporate insolvency process in India. The doctrine suggests that once a company successfully undergoes the insolvency resolution process and is taken over by a new buyer, the new owner …
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India’s DPIIT Clarifies on Issue of Bonus Shares in Prohibited Sectors
Introduction As per Para 1 of Annexure 3 of India’s consolidated foreign direct investment policy, Indian companies are allowed to freely issue rights/ bonus shares to their existing non-resident shareholders, subject to adherence of sectoral caps and compliance of applicable laws like the Companies Act, 2013.
MCA PROPOSES EXPANSION OF THE FAST TRACK MERGER FRAMEWORK
The Ministry of Corporate Affairs (the “MCA”) has recently issued a public notice inviting comments on the draft Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2025 (the “Draft Amendment Rules”).
UK Court approved a restructuring plan despite shareholders retaining majority shares under the plan – Re Sino-Ocean Group Holding Ltd [2025] EWHC 205 (Ch)
The English High Court in Re Sino-Ocean Group Holding Ltd approved a restructuring plan despite it allowing the shareholders to retain a majority shareholding in the company and thus disproportionally benefiting the shareholders.
The suspension of the U.S. FCPA and its implications for U.S. affiliated entities operating in Asia
In February 2025, President Trump passed Executive Order 14209, which temporarily suspends criminal enforcement of the U.S. Foreign Corrupt Practices Act (“FCPA”) for at least 180 days, and directs the U.S. Department of Justice to review all existing FCPA investigations or enforcement actions, and issue updated guidelines or policies governing FCPA investigations or enforcement actions.
ASEAN Guide on AI Governance and Ethics covering Generative AI released
On 17 January 2025, ASEAN released the “Expanded ASEAN Guide on AI Governance and Ethics – Generative AI” (“ASEAN Gen AI Guide”) during the 5th ASEAN Digital Ministers’ Meeting in Thailand.
Internal Investigations: Key Strategies, Challenges, and Best Practices from a Brazilian Perspective
Introduction Internal investigation is one of the key elements of a corporate integrity program and, in Brazil, it is considered a cornerstone by the Office of the Comptroller General (Controladoria-Geral da União – CGU), the federal authority responsible for issuing structured guidelines to prevent, detect, and remediate corruption and related offenses.
Bahrain’s Penal Code: A New Era in Combating Cybercrime and Device Theft
The Kingdom of Bahrain has taken positive steps towards protecting individuals from personal and data theft with the introduction of the amendments brought along by Legislative Decree No. (3) of 2025. Founding Partner Saad Al Doseri and Trainee Lawyer Noor Fathalla provide their insight on the recent amendments to Bahrain’s Penal Code.
Exploring Mediation: Concepts, Procedures, and Acceptance in the Arab Community
Founding Partner Saad Al Doseri examines the growing use of mediation to resolve disputes in the Arab region. Whilst mediation enjoys popularity in other jurisdictions globally, it is not yet widely used in the Middle East, although that interest is increasing. In his article below, Saad examines the merits of mediation, including the advantages of choosing …
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Ilyashev & Partners Overturns Procurement Decision in Favor of Ukrainian Telecom Company
Ilyashev & Partners Law Firm successfully represented Research and Production Company HomeNet LLC, a Ukrainian telecommunications company, in a case concerning the violation of procurement procedures by the customer during a tender for telecommunications services initiated by the Main Information and Computing Centre branch of JSC Ukrzaliznytsia (Ukrainian Railways).