Supreme Court rules that insurance reinstatement rights cannot be assigned
The Supreme Court in Xu v IAG New Zealand Ltd has ruled by a 3:2 majority that, under an IAG house insurance policy, homeowners cannot assign their right to reinstate to a subsequent purchaser of the house. Homeowners must undertake the reinstatement themselves, and if they do not, the right to claim the cost of …
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AVELLUM advises GROUPE ATLANTIC on acquisition of one of SST Group’s businesses
AVELLUM acted as the Ukrainian legal counsel to GROUPE ATLANTIC, a leading French HVAC company, on the acquisition of SST Group’s electric underfloor heating and water leakage control systems business.
Consolidated Group (Income Tax) Rules, 2019
On 31 May 2019, Malta published the “Consolidated Group (Income Tax) Rules". The rules will come into force as from year of assessment 2020 and the rules introduce the concept of fiscal units into Maltese tax law.
Renewable energy in Ukraine: green auctions launched
In the first half of 2019 alone, renewable energy facilities with a capacity of more than 1.5 GW were connected to the Ukrainian grid, with about 96% of those being solar and wind energy facilities. In the whole of 2018, which has been a record-breaking year so far, numbers were almost half as high. The …
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Economic Substance Requirements – Fund Managers
The International Tax Co-operation (Economic Substance) Law, 2018 (the “ES Law”) came into effect in the Cayman Islands on 1 January 2019, requiring in-scope entities that carry on particular activities to have demonstrable economic substance in the Cayman Islands.
Shipping at the spotlight of terrorism
Is terrorism the new norm for shipping? THE STORY On the 13/06/2019, two oil tankers were victim to what has been described as “sabotage” attacks in the Gulf of Oman, leaving one ablaze and both adrift. Following, a similar incident involving four tankers, which took place one month ago, on the 12th of May, 2019.
Adidas three stripe Trademark Revocation
In a judgment of the General Court of the European Union of the 19th June 2019, Adidas saw their hopes of extending their three stripes trademark dashed, as the court ruled that there was no distinctiveness in the three stripes trademark. Furthermore, the court held that the Adidas had failed to prove that the mark had …
David against Goliath – Libra vs Central Banks: Who will win?
Working in the crypto and DLT space is like being on an emotional rollercoaster with feelings which range from curiosity, excitement, euphoria, revelation, shock, disappointment, hope, wonder and determination – did I miss any?
UK Telecoms company fined £100K over unsolicited marketing messages
The Information Commissioner’s Office (‘ICO’) which is the UK’s data protection supervisory authority, recently issued a fine of £100,000 to EE Limited, a telecoms company operating in the UK. The fine was issued in response to EE Limited having sent two and a half million unsolicited direct marketing messages to its customers, back in early …
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British Airways and Marriott International Inc. face huge fines from UK data protection authority
British Airways (‘BA’) may be hit with what will be the highest-ever penalty which the Information Commissioner’s Office (‘ICO’), the UK’s data protection supervisory authority, has handed out.