Grounds for the Annulment of Domestic Arbitration Awards in Indonesia (Recent Development)
Introduction Under the Arbitration Law (Law No. 30 of 1999), a domestic arbitration award that has been registered by the arbitrator(s) or its proxy with the court can be annulled. The annulment request must be made in writing and submitted to the relevant district court within 30 days of the submission and registration date of …
The Indonesian Constitutional Court Ruling on the Omnibus Law: Unconstitutional with Conditions?
Brief Overview On the 25th of November 2021, under its final and binding ruling No. 91/PUU-XVIII/2020 (“Ruling”), the Indonesian Constitutional Court (Mahkamah Konstitusi – “Court”) ruled on an application for a judicial review of Law No. 11 of 2020 on Job Creation (commonly known as the “Omnibus Law”) – a law which (i) changed 78 …
Financial Services Authority (OJK) Regulates Digital Banks
On 30 July 2021, the Financial Services Authority (“OJK”) has issued OJK Regulation No. 12/POJK.03/2021 on Commercial Banks (“POJK 12/2021”). POJK 12/2021 was issued to anticipate, amongst other things, a business development and banking trend including the development and innovation of information technology. One of the interesting topics of POJK 12/2021 is the introduction of …
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The Turkish Competition Board Emphasizes the High Standards Applied in the Assessments Regarding the Allegations Concerning Discrimination and Refusal to Supply in the Pharmaceuticals Sector
Authors: Gönenç Gürkaynak Esq., Kağan Uçar, Hakan Demirkan and Leman Hilal Öztürk, ELIG Gürkaynak Attorneys-at-Law
Insight from the recent CFA decision in Commissioner of Inland Revenue v Poon Cho Ming, John – Whether benefits received on termination of employment are taxable or not
Employee termination is not uncommon during economic downturn or group restructuring. The termination payments or the compensation packages, especially for top executives or senior employees, often consist of many components such as salaries, gratuities, discretionary bonuses, golden handshakes, settlement sum for the employment dispute. Given the diversified nature of the compensation components, it might not …
SUMMARY OF REGULATIONS ON INDEPENDENT DIRECTORS AND NON-EXECUTIVE DIRECTORS
* Note: For the purposes of this guide, “Directors” means the members of the Board of Directors (also known as the Board of Management) of a Joint Stock Company established under Vietnamese law
SUMMARY OF REQUIREMENTS FOR THE PAYMENT PROCESS OF M&A TRANSACTIONS IN VIETNAM
SUMMARY OF REQUIREMENTS FOR THE PAYMENT PROCESS OF M&A TRANSACTIONS IN VIETNAM
The Notice Period Under UAE Federal Decree by Law No. (33) of 2021 Regulating Labour Relations.
Background The UAE’s labor laws and regulations have undergone immense changes in the past few years that cater to the ever-growing market demands and its accompanying legal framework. Federal Decree by Law. (33) of 2021 (“2021 law”) which repeals Federal Law No. 8/1980 Concerning the Regulation of Labor Relations has introduced significant changes entering into …
The Metaverse: The Rise Of The Digital Universe
The metaverse has been on the minds of several practitioners, advisers, corporate strategists and central bankers. But, the Generation Z participants – or zoomers as they are affectionately known as – are not thinking it – they are well into being it, living it and expanding the ever evolving Metaverse. So, if you have not …
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Intellectual Property Protection
What does IP mean? Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. IP represents property rights and is protected in law by, for example, patents, copyright, industrial design and trademarks, which enable people to earn recognition or financial benefit from what …