Tax Newsletter — May/June 2014: review of PRC and Hong Kong tax developments

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Latest Briefings

The Commercial Agents Regulations: a step behind the times?

By Alex Williamson The Commercial Agents (Council Directive) Regulations 1993 (the Regulations) are 25 years old this year. An evaluation by the European Commission concluded in 2015 that the underlying Commercial Agents Directive (the Directive) still met its objectives and functioned well. However, a recent Court of Appeal decision has shown that the legislation is struggling to […]

Exclusion clauses under the spotlight: UCTA reasonableness

By Perran Jervis In decisions handed down one day apart, the Court of Appeal concluded that a far-reaching exclusion clause which limited liability for negligence was reasonable under the Unfair Contract Terms Act 1977 (UCTA), whereas an exclusion clause in a lease (in the form of a non-reliance clause) was not. The decisions emphasise that […]

Currency, cost calculations and contractual clarity

Walker Morris’ Head of Commercial Dispute Resolution, Gwendoline Davies, highlights the importance of dealing comprehensively and clearly with matters of currency and calculation in cross-border contracts…

Belgian draft Trade Secrets Act: opportunities for the life sciences sector

On 8 June 2016, the EU Trade Secrets Directive was adopted. The main purpose of the Directive was to harmonise and enhance the protection of trade secrets EU-wide and to thus create an innovation-friendly environment for businesses. The EU Member States had to implement this Directive by 9 June 2018. Belgium missed the deadline, but […]

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TAGLaw expands network into Indonesia via Budidjaja & Associates

International network TAGLaw has expanded its Asia footprint with the addition of Indonesian firm Budidjaja & Associates. This brings the network’s membership to 150 firms in 84 countries and comes after it this year added Bolivian firm Moreno Baldivieso Estudio de Abogados, Barcelona-based Bufete Escura in Barcelona, Senegal’s Maître Cheikh Fall and Delaney Partners in […]

FCA investigation will enforce that UK insurance is not a commodity, says Eversheds

Eversheds partner Jeremy Irving has commented on news that the Financial Conduct Authority (FCA) is launching an investigation into insurance price comparison websites. Noting that price comparison websites (PCWs) have been subject to regulatory query, scrutiny and comment for a number of years, Iriving said: ‘The FSA [Financial Services Authority] as it was and the FCA now […]

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CoA orders Sebastian Holdings to pay $250m to Deutsche Bank or lose appeal

The Court of Appeal has threatened to strike out Travers Smith client Sebastian Holdings’ (SHI) appeal against Deutsche Bank unless it pays over $250m to the bank. The Turks & Caicos registered company owes Freshfields Bruckhaus Deringer client Deutsche Bank over £146m after losing an $8bn counterclaim against the bank last year but has not […]

Difficult to call steady growth in UK construction market, says Eversheds

Eversheds construction expert Michael Conroy has commented on the latest projections for future UK construction industry growth. Conroy said that it is encouraging to see that confidence remains intact after other recent figures suggested the outlook was ‘perhaps a bit more muted’. He said: ‘It remains the case that infrastructure still requires a catalyst such as […]

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Romania – In a good place

Geographically and economically, Romania is well-placed to attract foreign investment – so long as imminent elections don’t scupper its stability When the floodgates opened on 1 January this year the UK was not, as had been popularly expected, hit with a deluge of Romanian immigrants. With that country experiencing a boom of sorts, it is […]

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