FAQ – COVID’19 and Shipping Industry
The World Trade Organization has projected that “world trade is expected to fall by between 13% and 32% in 2020” due to the COVID-19 pandemic, as it has increased globally causing massive disruptions on the economic activity of international markets, including individuals’ lifestyles. One of the major industries shaken by this calamity is the global …
Uncapped EU Funds available for Hardest Hit Sectors
Member State governments may grant financial assistance or other forms of aid to their companies and/or sectors in difficulty so long as this aid is compatible with EU State aid rules namely Articles 107(2) or Article 107(3) of the Treaty on the Functioning of the EU (“TFEU”).
Bombay High Court resolves dichotomy between admiralty proceedings under the Admiralty (Jurisdiction and Settlement of Maritime Claims) Act, 2017 and Insolvency and Bankruptcy Code, 2016 (IBC)
I. Introduction: The Bombay High Court in a judgment dated 19th May 2020 in Raj Shipping Agencies v. Barge Madhwa and Anr.,[i] considered the nature and provisions of proceedings under the Admiralty (Jurisdiction and Settlement of Maritime Claims) Act, 2017 (Admiralty Act) and harmonised the provisions of the Admiralty Act with the Insolvency and Bankruptcy …
Cargo Shortage and Procedure in Turkey Surplus
Under current Turkish customs regulation, cargoes destined to and discharged in Turkish ports are subject to cargo manifest declaration as per the Circular no. 2012/2 (“Circular”) published by the General Directorate of Customs on 24.01.2012 and subsequent amendments.
Sayenko Kharenko advises EBRD on EUR 15 million financing to OTP Leasing to support SMEs in Ukraine
Sayenko Kharenko acted as Ukrainian legal counsel to the European Bank for Reconstruction and Development (EBRD) on providing a four-year loan of up to EUR 15 million equivalent to OTP Leasing. The loan will be available for disbursement as a UAH synthetic and/or a EUR denominated facilities. It will enable OTP Leasing to finance long-term …
ASD INSURANCE NEWS informieren über Auswirkungen der COVID-19 Pandemie im Versicherungsrecht
Noch lassen sich die endgültigen Auswirkungen der COVID-19 Pandemie mit allen Begleitumständen nur schwer abschätzen. Fest steht jedoch, dass es bereits zu massiven Auswirkungen gekommen ist und weiterhin kommen wird. Hiervon sind nahezu alle Wirtschaftsbereiche betroffen, hiermit zwangsläufig auch die Versicherungen.
Covid-19 : les assureurs vont-ils indemniser les pertes des entreprises ?
La situation de quasi arrêt de toute activité non strictement indispensable, décidée par les autorités, occasionne des pertes considérables pour de très nombreuses entreprises. Certaines polices d’assurance couvrent la perte d’exploitation résultant d’une décision de fermeture administrative. Le tribunal de commerce de Paris a condamné en référé un assureur à indemniser un restaurateur. Mais le débat …
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Covid-19: Emergency Situation Regime in Ukraine
On 25 March 2020, the Cabinet of Ministers of Ukraine resolved at its meeting to introduce the emergency situation regime throughout the country for 30 days.
Cannabis – A growing market
Since 1 January 2018, Danish doctors have had the opportunity of prescribing cannabis products for their patients; A four-year medicinal cannabis pilot programme has been introduced in Denmark implying that licences for importing cannabis for Danish patients can be issued. Today it is also possible to cultivate, produce and distribute medicinal cannabis in Denmark. In parallel …
Nature of Disputes in Construction industry- An overview
Construction industry is today fast paced, complex and involve multiple parties thereby creating numerous issues from which dispute arises. Some of the contentious issues are as follows: The right to suspend works: Under FIDIC Red book, Sub Clause 40.1 & Sub Clause 69.4 determines this right. The issue is whether the party suspending the work …
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