In the course of regular updates on Russian counter-sanctions, we would like to provide you with information on Decree of the President of the Russian Federation dated November 08, 2023 No. 844 “On Additional Temporary Economic Measures Related to Circulation of Foreign Securities” (“Decree No. 844”). Decree No ...
On 26 October 2023 the Online Safety Act (‘the Act’) received Royal Assent, enacting rules designed to, in the UK government’s words, make the UK the safest place in the world to be online ...
A recent decision by the Ohio First District Court of Appeals holds the discovery rule does not apply to construction defect claims against design professionals. Generally, the discovery rule means that the applicable statute of limitations does not begin to run until the negligence is discovered by the injured party. However, in Breazeale v. Infrastructure & Development Engineering, Inc. (Appeal No ...
For as long as there have been rules of evidence and courtrooms, there have been products that can impair litigants or witnesses—and products whose use carries the potential to trigger certain stigmas in the eyes of the finders of fact. Cannabis, which has been around longer than nearly every judicial system in the world and the subject of political and popular debate in the United States for the past century, may be the paradigmatic product at the moment ...
Since April 2018, the Minimum Energy Efficiency Standard (MEES) has prohibited landlords from renting commercial properties that do not meet certain environmental standards ...
The U.S. Government Accountability Office's recently issued annual bid protest report is noteworthy because it shows that 31% of bid protests were sustained — more than double the rate for prior years— and that protesters received some form of relief from the procuring agency in more than half of the protests filed with the GAO in fiscal year 2023 ...
The court has considered the discretionary grounds of opposition under the Landlord and Tenant Act 1954 (“the 1954 Act”) in the recent case of Gill v Lees News Ltd [2023] EWCA Civ 1178. In the case, the landlord - Mr Gill - served counter notices in response to section 26 requests for renewal tenancies pursuant to the 1954 Act served by the tenant, Lees News Ltd ...
Following the route set out in the ongoing constitutional process and taking into consideration the draft prepared by the Expert Commission and the amendments presented during the respective discussion in the Joint Commission, the Constitutional Council approved yesterday, the Preliminary Draft of the New Constitution ...
In commercial real estate transactions, time is money, execution is everything and projects generally do not move forward without a mortgage loan. Lenders and their counsel should view a project as if the lender is the eventual buyer, owner and seller. For developers, considering the transaction from a lender’s point of view can save them considerable time and money and expedite loan closing ...
Only five months after its first reading on 17 May 2023, the future is already in doubt for key aspects of the Renters (Reform) Bill. The changes proposed by the Bill include the abolition of ‘no fault’ evictions under section 21 of the Housing Act 1988, meaning that landlords would be required to rely on the more combative section 8 process ...
October 26, 2023 By: Jarrett Osborne-Revis In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as bankruptcy proceedings and receiverships – particularly for distressed commercial real estate entities – trend upward in California ...
The Product Security and Telecommunications Infrastructure Act 2022 (PSTIA) received Royal Assent on December 6, 2022. The PSTIA makes various changes to the Electronic Communications Code (the Code) – however, its intended effects are only being felt piecemeal, as its provisions are being slowly brought into force through secondary legislation. Ss ...
The flight to quality in the UK’s commercial real estate market has been covered extensively over recent months. Nowhere is this shift being felt more acutely than in the office sector. According to Cushman & Wakefield, take-up of Grade A office space in Central London reached 2.44m sq ft during the first half of 2023 - increasing by 7 per cent on the five-year H1 average. There are many factors driving this shift ...
Earlier in the year, we reported on the government’s announcement of increases to visa and nationality fees. These increases to application fees came into force on 4 October 2023, other than the substantial increase to the Immigration Health Surcharge (IHS) which was expected to come ‘later in the autumn’ ...
In recent times, the financial market has been abuss with discussions about the potential benefits of real estate tokenisation. Several initiatives worldwide, such as Propchain in Dubai, Vave and Equisafe in France, Propellr, Inveniam Capital Partners, and Fluidity in the United States, as well as Elevated Returns in the United States and Thailand, have taken the bold step of launching tokenised real estate projects ...
For those considering such a move, there are various options open to them to make their relocation a reality: Residency Certificate for Persons of Independent Means Certificate of Permanent Residence for Persons of Independent Means Certificate of Direct Investment Residency Certificate (Substantial Business Presence) Residency Certificate for Persons of Independent Means A person can apply for a Residency Certificate for Persons of Independent Means ...
The Government of Jersey has published an update on the implementation of mandatory Energy Performance Certificates for Jersey in relation to commercial and residential property. The update confirms that the planned new legislation will establish a framework for Jersey Energy Performance Assessments (JEPA), which will be the Jersey equivalent to Energy Performance Certificates (EPCs). This name change is to ensure that it is clear the Jersey assessments differ from those in the UK ...
One of the most common questions I receive from clients is around the termination of leases, with confusion reigning around the terminology and procedures used in Scotland. It is not surprising that when given a remit to consider the law of commercial leases, the Scottish Law Commission (SLC) first turned its attention to the law relating to the termination of leases at expiry. In October 2022, following consultations, the SLC published its Report on Aspects of Leases: Termination ...
In a recent update to the suite of Homes England standard shared ownership leases, England’s Regulator of Social Housing sought to align rent reviews with social and affordable rent tenures. In the process, it may have created more work for sector participants ...
The Finnish government proposes significant changes to transfer taxation. Transfer tax is levied on the acquisition of shares and other securities and real property. The proposed changes may have significant effects to the taxation of M&A and real estate transactions. Some of the proposed changes will decrease the tax burden while some will result in increased tax liability. The most significant changes include: The general rate for securities (1 ...
Following from the recent geopolitical developments in Ukraine, there has been a heightened interest in sanctions, specifically, those sanctions being imposed against Russia ...
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On 30 August 2023, the Beneficial Ownership Transparency Bill, 2023 (the Bill) was published, proposing several important changes to the beneficial ownership regime in the Cayman Islands. The Bill is intended to enhance the jurisdiction’s current beneficial ownership regime to ensure compliance with the recommendations of the Financial Action Task Force ...
