Cryptoassets in Cyprus – Under the ambit of the 5th AML Directive
A. INTRODUCTION The enactment of the amending law to the Prevention and Suppression of Money Laundering and Terrorist Financing Law 188(I)/2007 on 18.02.2021 (“the new AML Law”) fully implementing the EU Directive 2018/843 (“the 5th AML Directive”), constitutes the introduction of cryptoassets in the Cyprus regulatory system.
The Long-Running Battle: Limitations of Liability in M&A Transactions
I. Introduction Allocation of liabilities between the parties in merger and acquisition (“M&A”) transactions is of utmost significance, in order to ensure that the buyer will be sufficiently protected, and the seller’s liabilities limited as much as possible. Under Turkish laws, the sellers` liabilities are subject to the provisions of the Turkish Code of Obligations …
Continue reading “The Long-Running Battle: Limitations of Liability in M&A Transactions”
Malaysia’s First Legal Remedies Against “Persons Unknown”
INTRODUCTION Zschimmer & Schwarz GmbH & Co KG Chemische Fabriken v Persons Unknown & Anor [2021] 7 MLJ 178 is Malaysia’s first legal action against “Persons Unknown” in light of a push payment fraud. The judgment has provided important clarification on the remedies against “Persons Unknown”. The Malaysian High Court granted a Mareva Injunction and a Proprietary …
Continue reading “Malaysia’s First Legal Remedies Against “Persons Unknown””
The Quincecare Duty: A narrower scope of Application
The Quincecare duty is applied in United Kingdom since case Barclays Bank plc v Quincecare [1992] 4 All ER 363, issued back in 1992. In the most recent decision Fiona Philipp v Barclays Bank UK plc narrows the scope of application of the Quincecare duty.
Foreign Investment and Technology Transfer Rules 2077 (2021)
The article summarizes Foreign Investment and Technology Transfer Act 2019 (2075) that has brought into effect the Foreign Investment and Technology Transfer Rules 2021 (2077) (“FITTR”).
Enforcement and Setting Aside of an Arbitral Award in Thailand
What is Arbitration? Arbitration is one of the most effective Alternative Dispute Resolution (“ADR”) approaches to resolving disputes outside the courts. Arbitration is often considered for the resolution of disputes, most commonly used in relation to international commercial transactions.
Public Tenders and Contracts in Malta; An Insight into the Key Requirements and Notions
Under Maltese law, the main legislative instrument in the field of public tendering and contracting is the Public Procurement Regulations, Subsidiary Legislation (‘SL’) 601.03.
Cyprus implements the 5th AML Directive
Key developments and the introduction of cryptoassets service providers
Issuance of dematerialised securities using blockchain technology
Starting 26 January 2021, the new law of 22 January 2021 applies!
Digital services act package
THERE IS NEW SHERIFF IN THE (DIGITAL) WILD WEST: THE EUROPEAN COMMISSION!