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Helmsman LLC | Singapore | 7 Dec 2021

Does Unfair Contract Terms Act apply to lease agreements?

The High Court recently considered a dispute between a co-working space operator and a customer, which arose from delays caused by the measures put in place by the government to counter the covid-19 pandemic. One of the key issues in contention between the parties was whether various terms in the contract between the parties were unenforceable due to the Unfair Contract Terms Act.
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Baker McKenzie | Colombia | 7 Dec 2021

Payment gateways

The Colombian central bank recently published a draft for comments of a new regulation that seeks to modify the external regulatory circular on payment gateways. The draft aims to include the participation of payment service providers – the payment gateways – in foreign trade operations and to simplify their information and reporting obligations.
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Ogier | Guernsey | 7 Dec 2021

Banking Supervision (Bailiwick of Guernsey) Law 2020

The Banking Supervision (Bailiwick of Guernsey) Law 2020 (the 2020 Banking Law) was recently implemented, repealing and replacing the Banking Supervision (Bailiwick of Guernsey) Law 1994, as part of the long-term project of the Guernsey Financial Services Commission to revise its principal regulatory laws. This article summarises the key changes that the 2020 Banking Law has introduced, as......
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Clasis Law | India | 7 Dec 2021

Writ court cannot adjudicate disputes arising out of purely contractual disputes

The Supreme Court recently examined the question of whether a writ court can exercise its extraordinary jurisdiction and adjudicate disputes arising out of purely contractual disputes. In the case examined in this article, there were major disputes arising from the contract and the work done by the contractor, which had been referred to the high court instead of the arbitration proceedings......
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Wigge & Partners | Sweden | 7 Dec 2021

Post-Brexit financial disputes in Sweden

Swedish companies are occasionally parties to financial contracts governed by English law – typically, as borrowers or guarantors under a cross-border financing arrangement or by the use of the International Swaps and Derivatives Association Master Agreement for their derivatives transactions. However, following Brexit, the enforceability of English court decisions in Sweden is less certain....
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ARBLIT Radicati di Brozolo Sabatini Benedettelli Torsello | Italy | 7 Dec 2021

Having your day in court: litigation trends in Italy

In this interview, Marco Torsello discusses how the Italian courts adapted to the covid-19 pandemic and what the recent litigation trends in Italy have been and may be moving into 2022. He also offers guidance to litigants about how to avoid common pitfalls in the process.
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Yigal Arnon & Co | Israel | 7 Dec 2021

New Israeli legislation implements first legislative stage of open banking reform

In recent years, the Israeli government and the Bank of Israel have been initiating various actions that are intended to implement the open banking reform. The primary aim of the reform is to increase competition in the Israeli financial services market, which is currently rather concentrated and consists of a relatively small number of players. One of the key steps of the reform is the......
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Shearn Delamore & Co | Malaysia | 7 Dec 2021

Bank Negara Malaysia issues exposure draft on Code of Conduct for Malaysia Wholesale Financial Markets

Bank Negara Malaysia recently issued an exposure draft on the Code of Conduct for Malaysia Wholesale Financial Markets. The proposed enhanced requirements are intended to address the key gaps and global development on market conduct matters, and are to be observed by market participants to uphold integrity and principles of fair market practices.
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RPC | Hong Kong | 7 Dec 2021

Recent judgment on ad hoc admission of overseas counsel tells of wider covid-19 story

Re Robertson QC is the latest reported judgment dealing with an application for ad hoc admission to the local bar, pursuant to section 27(4) of the Legal Practitioners Ordinance (Cap 159). There appears to have been fewer applications by Queen's Counsel based in England for ad hoc admission to the local bar in 2021, as was the case in 2020 – therein lies a covid-19 story of (among other......
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AKD | Netherlands | 7 Dec 2021

Dutch court says nay to giving effect to US ruling on punitive damages

Dutch courts can give effect to rulings issued by foreign courts, even in the absence of an international instrument facilitating such recognition, provided that certain key criteria are met. However, an appeal court recently ruled that a foreign ruling that orders someone to pay punitive damages cannot be recognised and enforced in the Netherlands. Punitive damages are considered to run......
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