Luxembourg regulator updates rules for UCITS depositaries
Luxembourg’s Financial Sector Supervisory Authority (CSSF) has issued on October 11, 2016 Circular 16/644, which sets out revised rules applicable to all Luxembourg credit institutions acting as depositary banks for UCITS funds as well as to all Luxembourg UCITS, including self-managed funds, and/or their management companies. The circular sets out regulatory requirements clarifying rules under …
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Bangladesh-The New Business Hub of Asia!
Ferdausur Rahman, Barrister (Lincoln's Inn) and Partner, A.S & Associates highlights the business opportunities in thefast growing economy of Bangladesh.Bangladesh is a booming economy, recently making the list of low-middle income countries as per the World Bank.According to the IMF, the Bangladeshi economy is projected to grow from $180 billion to $322 billion by 2021. …
Non-Performing Loan Recovery
Legal Challenges: In Bangladesh, the foremost challenge for the financial institutes is Non-Performing Loan (NPL) recovery. Recently the Ministry of Finance of the Government of the People's Republic of Bangladesh informed the national Parliament that the total amount of non-performing loan is BDT 560 Billion. According to Bangladesh Bank, the Central Bank of Bangladesh, NPL …
Claeys & Engels launches www.gdprbelgium.be today
The General Data Protection Regulation will be applicable as from 25 May 2018. Visit our website to find out what this means for your HR policy. The Claeys & Engels data protection team is all set for the GDPR and is eager to assist you in making your company “GDPR-proof”. To assist you during the preparations of …
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Cyprus : Warrant Of Search Issued Against A Lawyer Cancelled Due To Violation Of Legal Professional
In the recent case RE: ANTONAKIS ANDREOU & CO LLC, a Supreme Court Judge, in Certiorari proceedings, cancelled a warrant issued against a lawyer and his law firm, for the search of the lawyer’s premises, on the ground that the law firm withheld certain important documents, relating to the alleged commission of serious crimes, by …
CYPRUS: English Court Guidance on Anti-suit Injunctions
In a recent decision of the English Commercial Court in ESSAR SHIPPING LTD –v- BANK OF CHINA LTD (2015) it has been held that an applicant to an anti-suit injunction shall act promptly and not sleep on his rights.
Cyprus: jurisdiction of Cyprus courts to recognise and enforce foreign judgments and foreign arbitra
In a recent decision of the District Court of Nicosia, it has been held that Cyprus Courts have jurisdiction to adjudicate on applications for enforcement of foreign judgments and foreign arbitral Awards, even if both the judgment creditor and judgment debtor reside outside Cyprus.
Ministers block Lochinver Station purchase – what it means for overseas investors
Ministers block Lochinver Station purchase – what it means for overseas investors Glenn Shewan, Senior Associate | Friday 18 September 2015 The decision by Government Ministers Paula Bennett and Louise Upston to decline consent to the NZ$88 million bid by Chinese-owned Pure 100 Farm Ltd (Pure) to buy the Lochinver Station made national headlines yesterday.