PRC Court for the first time Recognizes and Enforces a Commercial U.S. Court Judgment
Authors: Andy LIAO, Alan LIN On June 30, 2017, the Wuhan Intermediate People’s Court (“Wuhan Court”) issued a verdict (the “Case”) ordering the recognition and enforcement of a commercial judgment rendered by the Los Angeles County Superior Court, California, USA (“LA Court”). This marks the first time for a PRC court to recognize and enforce …
Foreign Direct Investment Law
Shanghai further optimizeslocal policies to promote the establishment of regional headquarters of multinational corporations. David TANG | Jun LI | Serina WEI Shanghai, as the leader of further opening up and attracting foreign investment in China, has recently promulgated the revised Regulations of Shanghai Municipality on Encouraging Multinational Corporations to Establish Regional Headquarters (“2017 Regulations“) …
AMAC Issued New Guidance on Private Fund Service Business
Authors: James Yong WANG, Shawn Xiao DING On March 1, 2017, Asset Management Association of China (the “AMAC”) promulgated the Administrative Measures for Private Investment Fund Service Business (Trial) (the “Administrative Measures”) which became effective on the same day. The Administrative Measures superseded the Guidelines on Fund Outsourcing Services (Trial) issued in February 2015 (the …
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New obligations under General Data Protection Regulation (GDRP)
Legal basis and principles of GDPR On 27 April 2016 Regulation (EU) 2016/679 of the European Parliament and of the Council, General Data Protection Regulation (the “Regulation“ or “GDPR“) was adopted. This Regulation is directly applicable in all Member States and constitutes the legal framework for personal data protection applicable in the whole of the …
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Mandatory Mediation System In Turkish Employment Disputes Between Employers And Employees
Law No. 7036 Code of Labor Courts (‘Law’) published in the Official Gazette No. 30221 dated October 25, 2017; introduced fundamental changes in the settlement of labor disputes and abrogated the previous law on the subject Law No. 5521. The radical changes implemented with the Law No. 7036 are summarized below.
Rightful Termination of Employment Contracts by Employees in Turkish Labor Law
The employees are entitled to terminate their employment contracts, whether the contract is for a definite or indefinite period, before its expiry or without having to observe specified notice periods in case of serious and important reasons determined in the Article 24 of the Labor Law No. 4857 (the “Labor Law”).
Golden powers: a new set of special powers for the Italian Government
The Law Decree No. 21 of 15 March 2012, converted by Law No. 56 of 11 May 2012, introduced a new set of special powers for the Italian Government in relation to strategic sectors such as defence and national security, energy, transport and communications.
Credit Intermediation And The Provision Of Consultancy Services
Decree-Law no. 81-C/2017, of 7 July, approved the regime governing Access to and Exercise of Credit Intermediary Activities and the Provision of Consultancy Services, which regulates the conditions, across the board, for the exercise of such activities in relation to any consumers in Portugal, regardless of the type and scope of credit agreement in question, …
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Online or Void – New Rules for Contracting with Czech State Entities
Do you do any business with the Czech state or municipal entities in Czechia? The question also applies to corporations or entities controlled or directly financed by government. If the answer is yes, you need to make sure that contracts concluded with such entities have been uploaded to an online public register.
IBA Taxes Committee: “Developments in Philippine Tax Laws and Regulations”
The International Bar Association’s (IBA) Taxes Committee published its annual update on tax developments by jurisdiction for 2017. The 2017 update includes a Philippine report by SyCipLaw partner Hiyasmin H. Lapitan entitled “Developments in Philippine Tax Laws and Regulations”. The Philippine report summarizes recent updates related to tax treaty relief, passed-on gross receipts tax, alternative …
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