Latest updates
Partial annulment of award based on ultra petita grounds
Tavernier Tschanz- Arbitration & ADR
- Switzerland
- 20 February 2020
A recent case addressed the partial annulment of an award which granted damages where the prayer for relief sought only a declaration (ultra petita). In addition to confirming the well-established line of decisions on penalty and substantive public order, this decision is among the few annulments, albeit partial, of an international award by the Supreme Court.
Macau responds to regulatory trends with new Cybersecurity Law
Rato, Ling, Lei & Cortés Advogados- Private Client & Offshore Services
- Macau
- 20 February 2020
In June 2019 the Legislative Assembly of the Macau Special Administrative Region (SAR) enacted the Cybersecurity Law. Prior to this, no legislation covered cybersecurity issues in the Macau SAR. As such, this new law reflects the region's efforts to respond to the latest regulatory trends regarding privacy and security and establish a legal regime for such matters. The main purpose of the law is to protect the networks, systems and data of critical infrastructure operators of the Macau SAR.
Federal Supreme Court examines margin squeeze under Swiss competition law
Lenz & Staehelin- Competition & Antitrust
- Switzerland
- 20 February 2020
The Federal Supreme Court recently confirmed that Swisscom had abused its dominant position by charging abusive prices for wholesale broadband services between 2001 and 2007. Swisscom was found to have left its competitors no possibility to gain a sufficient profit margin between the wholesale prices charged by Swisscom and their retail prices (so-called 'margin squeeze'). This was the court's first judgment where it examined a margin squeeze under Swiss competition law.
International arbitration: key legislative developments
Courtenay Coye LLP- Arbitration & ADR
- Belize
- 20 February 2020
Arbitration in Belize is governed by the Arbitration Act. As the act was last amended in 1980, it has become somewhat outdated. However, these amendments assisted in Belize's assimilation of a modern arbitration enforcement regime by incorporating the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 into domestic law. In 2017 legislation was enacted that has directly affected the enforcement of foreign arbitral awards in Belize and abroad.
What's new in revised draft Anti-monopoly Law?
AnJie Law Firm- Competition & Antitrust
- China
- 20 February 2020
The State Administration for Market Regulation recently released a revised draft of the Anti-monopoly Law (AML) for public comment. In general, the revised draft follows the current AML's basic framework; however, it significantly enhances the legal liability of AML violators. This article highlights key changes proposed by the revised draft and discusses why these changes matter for business entities from a practical point of view.
Insufficiently stamped agreements: can parties still seek interim relief in support of India-seated arbitrations?
Khaitan & Co- Arbitration & ADR
- India
- 20 February 2020
The Supreme Court recently held that the courts cannot appoint an arbitrator on the basis of an arbitration clause if the agreement containing such clause is insufficiently stamped. The court concluded that such an arbitration clause does not exist in law. In so doing, the court expressly overruled a prior decision of the Bombay High Court to the extent that it dealt with the powers of the courts under Section 11 of the Arbitration and Conciliation Act.
International arbitration: key legislative developments
Courtenay Coye LLP- Private Client & Offshore Services
- Belize
- 20 February 2020
Arbitration in Belize is governed by the Arbitration Act. As the act was last amended in 1980, it has become somewhat outdated. However, these amendments assisted in Belize's assimilation of a modern arbitration enforcement regime by incorporating the Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958 into domestic law. In 2017 legislation was enacted that has directly affected the enforcement of foreign arbitral awards in Belize and abroad.
Blockchain and cryptocurrency regulation 2020
Carey Olsen Bermuda- Private Client & Offshore Services
- Bermuda
- 20 February 2020
The current government was elected in 2017, having undertaken to create new economic pillars in Bermuda, identify new opportunities for economic diversification and seek local and overseas investment to develop new local industry and thereby create jobs in Bermuda. Since its election, the government has enthusiastically embraced the fintech sector and the potential that it offers and has repeatedly expressed its intention for Bermuda to be a significant centre for this industry.
Preparing US tax and information returns: Forms 3520 and 3520-A
Kozusko Harris Duncan- Private Client & Offshore Services
- USA
- 20 February 2020
The Internal Revenue Service (IRS) is ramping up compliance initiatives targeting failures to file US tax and information returns. US tax attorneys and accountants are increasingly seeing IRS notifications and penalty assessments. As the new year begins, family advisers and trust officers should review succession planning structures to determine whether any entity or individual has a 15 April US reporting requirement.
Gender equality: further duties for employers
Homble Olsby | Littler- Employment & Benefits
- Norway
- 19 February 2020
From 1 January 2020 the Equality and Anti-discrimination Act has been amended, imposing further duties on employers regarding equality and discrimination. Companies in the public sector and companies with more than 50 employees in the private sector must now carry out a mapping of pay with regard to gender and the uptake of part-time work every two years.
Fifth Circuit confirms Dorion test for maritime contracts
Wilson Elser- Shipping & Transport
- USA
- 19 February 2020
The US Fifth Circuit Court of Appeals recently confirmed the Dorion test for determining whether a contract is a maritime contract and extended the test to all mixed service contracts. Whether a contract is 'maritime' is a vital distinction for anyone operating in the maritime or offshore industries in the United States, as it can have far-reaching implications with respect to governing law, risk allocation and the enforceability of contractual indemnity provisions.
PMPRB reports upward trend of high-cost drugs
Smart & Biggar- Healthcare & Life Sciences
- Canada
- 19 February 2020
The Patented Medicine Prices Review Board recently released the Meds Entry Watch 2018, which analyses information about medicines approved by the US Food and Drug Administration, the European Medicines Agency or Health Canada in 2017 and 2018. One of the key findings is the continued upward trend in the entry of high-cost products (eg, orphan drugs and oncology products).
Common pitfalls in M&A deals and how to avoid them
Kayum & Demir- Corporate Finance/M&A
- Turkey
- 19 February 2020
This article examines some of the key considerations for buyers and sellers when entering into an M&A transaction and how best to navigate deal-related risks. For example, in Turkey, M&A deals are generally not subject to regulatory approval. However, depending on the turnovers of the buyer, seller and target, a proposed transaction may be subject to Competition Board approval. Further, M&A deals in some regulated sectors (eg, energy and telecoms) must be approved by the governmental authorities.
Court's discretion trumps International Arbitration Act in admiralty case
Bowmans- Shipping & Transport
- South Africa
- 19 February 2020
In 2017 South Africa promulgated the International Arbitration Act (IAA) with a view to creating a viable arbitral forum on the African continent to resolve international disputes. Although the IAA is still in its infancy, the Supreme Court of Appeal recently delivered an important judgment which illustrates the tension created by the overlapping boundaries of the IAA and the High Court's well-established admiralty jurisdiction under the Admiralty Jurisdiction Regulation Act.
Downstream mergers under Polish company law
Kubas Kos Gałkowski- Corporate Finance/M&A
- Poland
- 19 February 2020
The Code of Commercial Companies allows for mergers of both independent companies and related entities. Concerns arise when subsidiaries take over dominant companies (so-called 'reverse' or 'downstream' mergers) and the domination results in a subsidiary having a controlling shareholding package. While downstream mergers are admissible under Polish company law, a high level of uncertainty remains as to whether they will be accepted by a particular registry court.
Digital health: proposal to amend Health Telematics Act
Preslmayr Attorneys at Law- Healthcare & Life Sciences
- Austria
- 19 February 2020
The Ministry of Health recently provided Parliament with a draft amendment to the Health Telematics Act for public consultation. The proposal aims to remedy a number of challenges relating to Austria's existing immunisation system through the introduction of electronic immunisation cards and a central register of vaccinations.
Religious freedom versus occupational health and safety
Fasken- Employment & Benefits
- Canada
- 19 February 2020
A great societal debate is taking place following the Quebec National Assembly's recent adoption of the Act Respecting the Laicity of the State, which regulates the wearing of religious symbols at the government level. In a recent case, freedom to wear religious symbols was pitted against employers' legal obligations to ensure and maintain occupational health and safety. The Quebec Court of Appeal held that occupational health and safety prevails over religious freedom, at least in this matter.
Employees' social rights: Employment of Women Law
Fischer Behar Chen Well Orion & Co- Employment & Benefits
- Israel
- 19 February 2020
The Employment of Women Law entitles both women and men to certain parental rights, including limitations on the fields of work available to pregnant women, limitations on women's night shifts, the protection of employment during pregnancy, maternity leave (for both women and men) and limitations on termination of employment.
What is PM 905 and will it lead to another labour reform in Brazil?
CGM Advogados- Employment & Benefits
- Brazil
- 19 February 2020
Provisional Measure 905/2019 (PM 905) was recently published in the Official Gazette, creating a new type of employment agreement specifically designed to incentivise companies to offer individuals aged between 19 and 29 their first formal job in exchange for benefits relating mainly to payroll taxation. The final decision regarding PM 905 should happen after April 2020 but, in the meantime, companies should seek legal advice while implementing the proposed changes.
Introduction of paid parental bereavement leave confirmed
Lewis Silkin- Employment & Benefits
- United Kingdom
- 19 February 2020
The government has finalised the legislation to implement an entitlement to two weeks' paid bereavement leave for working parents who lose a child aged under 18. The new right will come into force with effect on 6 April 2020. In readiness, all employers should review their policies and practices and amend them as necessary to reflect the new rights.
