This article summarises the legislative developments and the main investigations carried out during 2019 by the Portuguese Competition Authority (PCA).
The competition framework was introduced in Mozambique in 2013 and has, since then, been completed and complemented by a few legislative acts. Even though the new framework mirrors, to a large extent, EU and Portuguese competition law, it remains to be seen how its provisions will be interpreted and effectively implemented by the Competition Regulatory Authority. The first steps towards the operationalisation of the competition enforcer were taken in April 2020, when the Mozambican government appointed Mr Júlio João Pio as President of the Board of the Competition Regulatory Authority.
Last week Law No. 26/2020, of 21 July (Law 26/2020) was finally published, transposing into Portuguese legislation Council Directive (EU) 2018/822, of 25 May 2018 (DAC 6). DAC 6 foresees new mandatory disclosure rules regarding certain cross-border mechanisms based on objective characteristics (hallmarks).
On 7 July 2020, the Parliament passed Law 1/2020, setting forth tax incentive-related measures applicable to all taxpayers, resident and non-resident individuals and companies with tax debts towards the State of Equatorial Guinea.
Law no. 28/2020, of 22nd July, 2020, approved several amendments to the Personal Income Tax (“PIT”) Code. Among the several amendments, we highlight the following: • Taxable Base • Broadening of the taxable base to all rights, benefits and pecuniary or financial advantages earned by employees or service providers, work related and not included in […]
In a recent decision (4A_613/2019, 11 May 2020), the Swiss Federal Supreme Court (Supreme Court) followed the practice of the Board of Appeal of the European Patent Office (EPO) as it held that the singling out of single features from two separate lists of features and therefore the combination of these two specific features constitutes an extension of the subject-matter of the patent application leading to its nullity.
In March 2020, the CMA established a dedicated COVID-19 taskforce to identify, monitor and respond to competition and consumer concerns arising from the COVID-19 pandemic and the task force has already been contacted more than 80,000 times.
In a recently delivered decision, Dodika Limited & Others v. United Luck Group Holdings Limited  EWHC 2101 (Comm), Mr Peter MacDonald Eggers QC (sitting as a Deputy Judge of the Commercial Court) has ruled that a notice of claim under a tax covenant contained in a share sale and purchase agreement (SPA) failed to comply with the requirements of the claim notification provisions in the SPA. As a result, a sum of USD 50 million held in escrow was liable to be released to the SPA sellers.
We have joined forces with COBA to look at the factors likely to impact the performance of the out of home (OOH) food market as we look to a ‘new normal’
Worried about the rise in cyber crime? Peter Yapp explains to Counter Terror Business Magazine how to “expect the unexpected” and get proactive when it comes to cyber security.
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McDermott Will & Emery has reported itself to the Solicitors Regulation Authority (SRA), as well as two of its disputes partners, after a High Court judge highlighted there were “serious issues” related to their professional conduct during a recent case. The move follows a High Court judgment handed down today which said there had been […]
Addleshaw Goddard’s average profit per equity partner fell 4 per cent over 2019/20, with the firm directing a small proportion of its profits into an investment reserve to stem the blow of Covid-19. The firm announced today that global revenue rose 4 per cent from £275m to £288m despite saying that Covid-19 has had “an […]
Clyde & Co has decreased its salary for newly-qualified (NQ) solicitors to £68,000, as well as lowering pay for trainees. The new NQ package is a £2,000 drop on the £70,000 the firm previously paid. Trainees will also receive less: first-year pay is down from £40,000 to £38,000 and second-year pay is down from £42,000 […]
Herbert Smith Freehills has restated its ambitions to grow its private equity team in the City, by hiring a partner from Kirkland & Ellis’ City team. David D’Souza joins Herbert Smith as its second corporate hire in just over a month. He has been a partner at Kirkland & Ellis since July 2018, having spent […]
Quinn Emanuel Urquhart & Sullivan has hired Justin Michaelson as a partner from Fried Frank Harris Shriver & Jacobson. Michaelson leaves Fried Frank after almost eight years, having joined from SJ Berwin in 2012. His practice involves the representation of high net worth individuals and companies in high-stakes cross-border disputes involving commercial litigation, international arbitration […]
Four lawyers have teamed up to form a charity to tackle racial injustice in the UK, with Clifford Chance providing financial support to the initiative. The magic circle firm is providing advice to One Case At A Time (OCAAT), set up by 5 St Andrews Hill’s Alexandra Wilson, Freeths trainee solicitor Isaac Eloi, Akin Gump Strauss […]