Latest updates

Major overhaul of Restrictive Trade Practices Law proposed
Tadmor & Co Yuval Levy & Co
  • Competition & Antitrust
  • Israel
  • November 23 2017

The Antitrust Authority recently published a draft amendment to the Restrictive Trade Practices Law for public comment. The amendment proposes a broad reform of the law as regards restrictive arrangements, monopolies and mergers. According to the authority, the amendment aims to decrease the existing regulatory burden that applies to legitimate and efficient practices and strengthen anti-competitive enforcement.

Managing disclosure in face of data explosion
  • Arbitration & ADR
  • International
  • November 23 2017

As the number of electronic devices, applications and other technologies increases, there has been a corresponding growth in the volume of potentially disclosable data in a dispute. While parties' disclosure obligations are clearly defined in the context of litigation, international arbitration offers a more flexible approach to disclosure which will often be influenced by the legal jurisprudence of the tribunal.

Foundation Companies Law enacted
Harneys
  • Private Client & Offshore Services
  • Cayman Islands
  • November 23 2017

The Foundation Companies Law 2017, which recently came into force, approaches the creation of a foundation company in such a way that it may consequently be established for any lawful purpose. The foundation company shares many of its features with other types of Cayman company and fits seamlessly into the Cayman Islands' legal regime. It will therefore have the benefit of a considerable body of case law on companies.

CCI penalises Hyundai for resale price maintenance and tie in
Vaish Associates Advocates
  • Competition & Antitrust
  • India
  • November 23 2017

The Competition Commission of India (CCI) recently imposed a penalty of Rs870 million on Hyundai Motor India Limited on the grounds that the company's dealership agreement had maintained resale prices through discount control and penalty mechanisms. Further, the CCI held that Hyundai had tied the sale of its cars to the sale of specific lubricants and oils, restricting competition in the relevant market and constituting a tie-in arrangement under the Competition Act.

Tonnage tax: countries whose ships are subject to surcharge
Elias Neocleous & Co LLC
  • Shipping & Transport
  • Cyprus
  • November 22 2017

The Merchant Shipping (Fees and Taxing Provisions) Law 2010 imposes a surcharge on the tonnage tax payable by qualifying vessels registered in countries which appear on the grey or black list of the Paris Memorandum of Understanding. On the basis of the 2016 Paris Memorandum of Understanding annual report, the Department of Merchant Shipping recently determined which flags are included in the relevant grey or black list for the purposes of calculating tonnage tax for 2017.

Maritime security – who's in charge?
Akabogu & Associates
  • Shipping & Transport
  • Nigeria
  • November 22 2017

There appears to be some level of cooperation across the relevant agencies in Nigeria in ensuring that the country's waters are kept safe. However, the lines are blurred with regard to the delineation of these agencies' maritime security functions. As several international instruments to which Nigeria is legally bound call for the preservation of maritime security, it is imperative to understand which agencies should be held accountable for protecting its waters.

Italian case law upholds that hidden manufacturing defect is an extraordinary circumstance
Studio Pierallini
  • Aviation
  • Italy
  • November 22 2017

The most recent Italian case law has upheld the European Court of Justice's interpretation of EU Regulation 261/2004 in Wallentin-Hermann and Van der Lans by qualifying a hidden manufacturing defect as an 'extraordinary circumstance' under the meaning of Article 5(3) of the regulation and rejecting passenger claims for compensation under Article 7 of the regulation.

Ontario bill proposes mandatory disclosure of financial relationships
Smart & Biggar/Fetherstonhaugh
  • Healthcare & Life Sciences
  • Canada
  • November 22 2017

The Ontario legislature recently introduced Bill 160, which – if passed – will enact the Health Sector Payment Transparency Act 2017. The act will require the disclosure of financial relationships between healthcare professionals and pharmaceutical or medical device manufacturers and the reporting of various information. More details, such as the manner and frequency of reporting, will be prescribed by regulation.

Making Nigeria a travel hub
George Etomi & Partners
  • Aviation
  • Nigeria
  • November 22 2017

The Nigerian aviation industry has the potential to contribute in excess of 5% to the nation's gross domestic product and support over 1 million jobs. Nigeria's recent achievements and Level 3 rating in the state safety programme implementation process have positioned the country to become a travel hub. However, the inherent challenges facing the industry must be addressed before this status can be achieved.

Erosion of employers' managerial rights
Fasken Martineau DuMoulin LLP
  • Employment & Benefits
  • Canada
  • November 22 2017

An arbitrator and the Quebec Superior Court recently challenged the well-established principle in labour relations that an employer retains managerial rights in the absence of limiting provisions in a collective agreement. The arbitrator and the court found that the employer had violated the collective agreement because it contained no clear provision that allowed it to act as it did. Therefore, the question remains: what is happening to managerial rights and what measures can employers take to protect them?

Pharmaceutical companies request Patent and Registration Office to reassess decisions
Advokatfirman Lindahl
  • Healthcare & Life Sciences
  • Sweden
  • November 22 2017

In eight landmark decisions, the Patent and Market Court of Appeal decided that the terms for already granted supplementary protection certificates (SPCs) should be recalculated in order to reflect a 2015 European Court of Justice decision regarding the method for calculating SPC terms under EU Regulation 469/2009. Several pharmaceutical companies that had been granted SPCs noted that the Patent and Registration Office's method of calculating SPC terms was not in line with EU law.

Hanjin fallout – part two: High Court refuses time extension for writs of arrest in rem
Bowmans
  • Shipping & Transport
  • South Africa
  • November 22 2017

The High Court's decision in a recent case involving a protective writ issued by a creditor of Hanjin at the time of the company's collapse was recently appealed before the Supreme Court of Appeal. A number of Hanjin creditors have filed an application for a time extension to serve the writs of arrest pending the outcome of the appeal. In the absence of an extension, the writs will have no further force or effect.

Patented Medicine Prices Review Board update
Smart & Biggar/Fetherstonhaugh
  • Healthcare & Life Sciences
  • Canada
  • November 22 2017

The Patented Medicine Prices Review Board recently announced the release of a hearing panel's decision regarding the pricing of a breakthrough drug and the publication of a report which compares lists of drugs covered by the public drug plans to determine the extent of overlap in drug coverage. Further, in response to an unopposed request filed by the board to do so, a hearing panel discontinued an excessive pricing proceeding relating to Apotex's Apo-Salvent CFC Free.

Incapacity to work – what can employers do?
Schoenherr Attorneys at Law
  • Employment & Benefits
  • Hungary
  • November 22 2017

Employers are often frustrated by employees' incapacity to work for health reasons, but they must act with care when addressing such situations. In an attempt to protect employee interests, legal regulations provide certain restrictions on what employers can do if an employee is unable to work for health reasons. A recent Supreme Court decision has further clarified some of these restrictions.

New Acas guidance on mental health in workplace
Lewis Silkin
  • Employment & Benefits
  • United Kingdom
  • November 22 2017

The Advisory, Conciliation and Arbitration Service has published a guide to promoting positive mental health in the workplace. The guide highlights the benefits for employers in proactively addressing this issue and sets out a step-by-step process to help them to achieve the key objectives of tackling the causes of work-related mental ill health, creating a culture where employees can talk about their mental health and supporting employees who are experiencing mental ill health.

Legislative changes: ship sale contracts and charterparties
Fenech & Fenech Advocates
  • Shipping & Transport
  • Malta
  • November 22 2017

While primarily introduced to amend and update the Aircraft Registration Act and other ancillary-related laws, Act LII/2016 also promulgated particular amendments which go beyond aviation law into the realm of shipping. These recent changes are making Maltese law an ideal legal regime to govern and regulate disputes which may arise under certain types of shipping contract – namely, ship sale and purchase agreements, promise of sale agreements and charterparties.

In the Matter of Agrokor DD: model laws and PIK toggle loans
RPC
  • Litigation
  • United Kingdom
  • November 21 2017

A recent application made by the insolvency practitioner of Agrokor, a major Croatian conglomerate, resulted in recognition in England of a stay of civil proceedings against the group. The purpose of the application was to halt any proceedings in relation to Agrokor's securities and debt obligations containing English law and jurisdiction provisions, pending the restructuring in the Croatian insolvency proceedings of the group's affairs.

Fair disclosure rule under securities law
  • Capital Markets
  • Japan
  • November 21 2017

In June 2017 the Financial Instruments and Exchange Act was amended to introduce the so-called 'fair disclosure' rule in Japan. The amendments address recent cases of selective disclosure of material information by issuers to sell-side analysts and investors' requests to introduce similar fair disclosure rules to those of other jurisdictions. The Financial Services Agency recently published a draft implementing order, ordinance and guidelines for public comment.

Securities rating agency not entitled to refund of erroneously remitted sales tax
Morrison & Foerster LLP
  • Capital Markets
  • USA
  • November 21 2017

A New York state administrative law judge recently upheld the denial of a securities rating agency's request for a refund of sales tax. The judge rejected the agency's argument that it had paid the sales tax on behalf of its customers, finding that it did not demonstrate that the tax had not been collected from its customers. The decision seems to elevate form over substance, as it seems logical to conclude that it was the agency that bore the cost of (and actually paid) the sales tax.

Regulator's use of Section 213 'combo' civil proceedings
RPC
  • Litigation
  • Hong Kong
  • November 21 2017

The Securities and Futures Commission (SFC) has cast a wide net with its use of civil proceedings pursuant to Section 213 of the Securities and Futures Ordinance. Recently, the Court of Appeal dismissed an appeal arising out of the SFC's use of Section 213 proceedings to obtain declarations that three defendants based in Hong Kong had contravened Section 300 of the ordinance by engaging in a deceptive course of business in transactions involving shares listed on an overseas stock exchange.

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