WSCO Advokatpartnerselskab | Denmark | 30 Jan 2019
A recent Maritime and Commercial Court decision demonstrates that in order to obtain compensation after cargo has been delivered without the presentation of a bill of lading, it must be proven that the release of said cargo resulted in financial loss. Therefore, in order to pursue compensation from a carrier or agent, a seller that has received no payment from the buyer for the delivery of a......
Hogan Lovells | Mexico | 17 Dec 2018
President Andrés Manuel López Obrador recently confirmed that bidding rounds organised by the National Hydrocarbons Commission will be suspended for at least three years until the contracts awarded during the previous administration result in effective investment and, most importantly, new oil and gas production. The new president has further affirmed that production will be increased through......
Grau & Angulo | Spain | 26 Nov 2018
In a recent case, Barcelona Commercial Court Number 2 declared that teleshopping ads broadcast by the defendant had infringed the copyright in similar ads created by the plaintiffs. This was an unusual case, as the claim relied on proving the statutory required level of originality for a creation to be copyrightable and the plagiarism of the pre-existing works in a particularly active sector.
Gün + Partners | Turkey | 21 Nov 2018
The recently published Presidential Executive Decree 85 amended Decree 32 on the Protection of the Turkish Currency. In the field of employment law, it is unclear whether foreign nationals fall within the scope of the decree and how their salaries will be paid going forward. Since the decree uses the term 'Turkish residents', the general understanding is that it also applies to foreign......
RPC | Hong Kong | 30 Oct 2018
In a cautionary tale, a group company and its current liquidators have had their claim against the group company's former liquidators struck out under the 'no reflective loss' principle. The strike-out was granted on the basis that the group company's subsidiaries had a closer nexus to the relevant loss than the group company. The appeal judgment demonstrates that the courts will not shy away......
Acar & Ergonen Law Firm | Turkey | 12 Oct 2018
The Communique on the Procedures and Principles regarding the Application of Article 376 of the Commercial Code recently came into force. It determines the procedures and principles that will apply to certain companies (ie, joint stock companies, limited liability companies and limited partnerships whose capital is divided into shares) in cases of capital loss and insolvency.
Harneys | British Virgin Islands | 11 Oct 2018
A BVI court has appointed Grant Thornton as a receiver over a BVI company under Section 43 of the Arbitration Act 2013 in order to preserve the value of the company pending the determination of foreign arbitration proceedings. The decision illustrates the effectiveness of the interim relief provided under the Arbitration Act to preserve assets against which an arbitration award will be enforced.
Rato, Ling, Lei & Cortés Advogados | Macau | 11 Oct 2018
The government recently introduced two new draft laws to increase financial leasing activities in Macau. Replacing legislation that has been in force for over 20 years and considered a necessary condition for developing financial activity in Macau, the new legal regime will reclassify financial leasing entities as 'non-depository institutions', make the supervision of these entities more......
Arendt & Medernach | Global, Luxembourg | 27 Sep 2018
In 2017 the Court of Appeals confirmed a change in position regarding the enforcement of awards annulled in the seat of arbitration. This decision broke with the court's earlier interpretation – which had favoured enforcement and been standard practice since 1999 – and solidified its new approach of denying enforcement when an award does not produce effects in its jurisdiction of origin.
Beretta Godoy | Argentina | 24 Sep 2018
The Ministry of Energy and Mining recently issued Resolution 197/2018, which details the requirements and procedures relating to obtaining reconnaissance permits and the commercial use of data obtained during reconnaissance activities along the Argentine Continental Shelf. Although the Ministry of Energy and Mining has already granted a number of offshore exploration licences, significant......