An Introduction to Corporate Guarantee
In the UAE, the risk management activities inherent in running a corporate or investment banking business remain of crucial importance, not least because of the strong local characteristic of “name lending”, by which is meant lending or providing other banking facilities to family or other private businesses, primarily on the strength of the “name” or …
Awards of excessive compensation under Turkish Intellectual and Industrial Property Law
Introduction Article 17 of the Turkish Constitution provides that "Everyone has … the right to protect and improve his/her corporeal and spiritual existence." Based on this provision of the Turkish Constitution, the general principles of indemnity law will apply to any violation of personal rights. Article 49 of the Turkish Code of Obligations provides the …
EU: High-Level Expert Group on Sustainable Finance delivers early recommendations
On 13 July 2017, the High-Level Expert Group ("HLEG") on Sustainable Finance published its interim report ("Interim Report") setting out concrete steps to create a financial system that supports sustainable investments. This Legal Insight is part of our dedicated newsletter series on the European Capital Markets Union ("CMU"). Background The growing awareness of environmental challenges and sustainability …
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Serbian Competition Authority Steps Up Antritrust Enforcement
The Serbian Commission for Protection of Competition (the "Commission") recently intensified its antitrust activities before the new Administrative Act came into effect. In one week alone the Commission initiated four antitrust cases and conducted two dawn raids. 1. What/who will be on the Commission's radar?
First Annual Privacy Shield Review to take place in September 2017
One of the core principles of the EU-US Privacy Shield ("Privacy Shield") is its Joint Review mechanism, which obliges the European Commission, the US Department of Commerce and the Federal Trade Commission to jointly review the functioning of the Privacy Shield on an annual basis, together with its national security and law enforcement aspects. The …
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The role of the supervisory board in investor relations
1.Abstract Contrary to common law jurisdictions such as the US or UK, the laws of civil law jurisdictions Germany and Austria provide for a two-tier structure for stock companies (Aktiengesellschaft), thereby strictly distinguishing the tasks, duties and responsibilities of the Management Board (Vorstand) from those of the Supervisory Board (Aufsichtsrat). Under the Austrian Stock Companies …
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Constitutional Court’s Recent Judgments on Rent in Austria
The Constitutional Court has recently provided two judgments on 28 June 2017 on the rent control legislation in Austria ruling that the current system for flats complies with Austrian Constitutional Law and the European Convention on Human Rights. The Constitutional Court visibly failed to take the opportunity to initiate a change to the current legislation. …
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[Legal Update] Proposed Amendment to Reduce Capital Gains Exemptions…
The Ministry of Strategy and Finance announced its proposed tax law amendments for 2018 on August 2, 2017. This tax alert highlights the proposed change to the capital gains exemption currently available to foreign investors engaged in on-the-market transactions.
The importance of the effective date in tax laws
8 Aug 2017 at 04:00 / NEWSPAPER SECTION: BUSINESS The importance of the effective date in tax laws The government of Prime Minister Prayut Chan-o-cha has passed a number of tax laws and regulations — far more than its predecessors in the previous decade of political turmoil — since coming to power in 2014. Keeping …
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An Introduction to Personal Guarantee
The economic boom in UAE has resulted in huge developments and a considerable increase in trade. This in turn has led to a rise in transactions which require a fast debt recovery mechanism. According to common practice in the UAE, the most secure and quickest method is the post-dated – and in some cases undated – cheque. This is …