September 2020 – Yesterday, 22 September, the President of Ukraine signed the Law which amends the Law of Ukraine “On privatisation of state and communal property” (the “Law”), introduces parliamentary control over the privatisation of state property and “unfreezes” the preparatory procedures to privatise large-scale state-owned objects. The Law was adopted by the Ukrainian parliament on 8 September 2020 and will become effective after its official publication.
In August, the TCA — which three months ago launched an investigation into German automotive giants Audi, Porsche, Volkswagen, Mercedes-Benz and BMW — initiated an investigation against other players in the Turkish automobile industry.
September 2020 – Following the adoption of Regulation (EU) 2019/452of the European Parliament and of the Council of 19 March 2019 on establishing a framework for the screening of foreign direct investments into the Union (the “Regulation”), the Czech government decided to regulate this area and to seek to pass a law on the screening of foreign investments. The Czech Ministry of Trade and Industry (the “Ministry”) has submitted a bill on the screening of foreign investments on the basis of which it will be possible to control and eventually ban certain foreign investments into Czech companies (the “Bill”).
The Bulgarian Ministry of Transport, Information Technology and Communications has released a new draft strategy entitled Concept for the Development of Artificial Intelligence in Bulgaria until 2030. It aims to define focal areas for building scientific and expert capacity for the development and implementation of AI systems and to build on the measures and activities set as a priority in other relevant national strategic documents, including in particular “Vision, Objectives and Priorities for the National Development Program: Bulgaria 2030.”
On the 14th of May 2020, the European Commission decided to refer Cyprus to the Court of Justice of the European Union due to its failure to implement a national register of road transport companies.
The designation of eight new Freeports within England made headlines in the Budget and now the winning bidders have to put into effect their successful proposals. What will this mean in practice for those areas affected and what are the likely issues that Freeport authorities will face?
The BVI is an increasingly popular arbitral seat supported by a modern pro-arbitration legal framework, modern arbitration facilities, and a world-class arbitration institution of its own in the form of the BVI International Arbitration Centre (“BVIIAC”). The ready availability of BVI legal expertise for any such arbitration under the supervision of the well-respected BVI Courts provides added comfort for parties seeking a dispute resolution venue in a stable jurisdiction.
The significant shift in people’s travel routines over the last 12 months will likely trigger long-term changes for many and our urban spaces will need to continue to develop into ‘smart cities’. Electric vehicles and their charging points will form a significant part of this changing landscape.
Against the backdrop of differing economies, laws and regulations throughout Asia, choosing to incorporate Cayman entities into holding and investment structures allows international stakeholders to co-operate under the aegis of a stable and effective judicial system. Appeals from the Grand Court of the Cayman Islands lie with the Cayman Islands Court of Appeal, comprising judges who have held high judicial office in the Commonwealth. The Judicial Committee of the Privy Council is the final Appellate Court for the Cayman Islands. As such, through its Court system, Cayman is able to provide the investment community with impartial, established and highly regarded judicial resources dedicated to resolving complex commercial disputes.
Two of the most prominent arbitral institutions globally, the London Court of International Arbitration and the International Chamber of Commerce, have recently updated their rules to modernise and streamline the way in which arbitrations are administered. The changes are designed to increase efficiency, flexibility and transparency and to embrace the growing use of technology in business today.
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Cahill has doubled in size in London since 2016.
EY Law is bringing in a team of six lawyers to boost its financial services practice, including a former Dechert partner. The legal arm of the accountancy firm has brought in a collective helmed by Monica Gogna, a finance expert who left Dechert last September. The team hire is aimed at building out a financial services […]
CMS is switching partner profit distributions back to its traditional bi-monthly schedule after temporary changes adopted during the pandemic, The Lawyer has learned. It is understood the firm moved to quarterly distributions last year, when it found itself in a position to resume the rounds following an emergency hiatus in the early part of the […]
One of the Inns of Court in London will soon be home to a fee-paying junior school after it agreed to lease out one of its buildings, The Lawyer can reveal. Grays Inn recently confirmed that it will be leasing out the old City School of Law Building to the City of London School for […]
Clyde & Co has cut a number of its UK secretarial roles as it moves to a new ‘hub’ operating model, adding itself to the list for firms rethinking the legal support function. The firm has dispensed with the services of 29 out of 235 secretaries, marking a 12 per cent decrease, as a result […]
DAC Beachcroft is raising its spend on staff bonuses to around £10m for this financial year, as firms increasingly seek ways to reward employees for their efforts during the pandemic. The move marks a rise of 45 per cent compared to its bonus spend of £7m last year. Managing partner David Pollitt said of the […]
Freshfields Bruckhaus Deringer and Herbert Smith Freehills (HSF) are lined up on the proposed £500m flotation of commodities broker Marex. At least 25 per cent of the company will be floated on the London Stock Exchange. The business is controlled by JRJ Group, a private equity firm set up by two ex-Lehman Brothers investment bankers. […]
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