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Blockchain: Hype vs Reality
Afridi & Angell, April 2018

Over the past 1-2 years, a great deal of information concerning the revolutionary technology that is “blockchain” has been published on many business, legal and technology news sources, and innumerable self-proclaimed authorities on the subject have emerged to contribute articles and presentations (ourselves among them)...

The Use of AI in Law: How Just is Machine Justice?
Karanovic & Nikolic, April 2018

Artificial intelligence is a burning topic in many sectors today and the legal industry is no exception. Recently, at the World Services Group’s annual employment law conference held in February, AI was heavily debated along with its’ impact not only on the legal profession, lawyers, clients, the way business is done, but also our traditional understanding of concepts such as “law” or “justice”...

New Revenue Recognition Standard Creates Additional Disclosure Requirements for Hospitals
Moss Adams LLP, April 2018

 Fundamental changes to how hospitals recognize revenue are beginning to take effect. One of the biggest entails significantly altering the manner in which hospitals and other entities disclose revenue-recognition policies and revenue within financial-statement footnotes. Background In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Codification® (ASC) Topic 606, Revenue from Contracts with Customers...

A Reality Check for Autonomous Shipping in 2018
Simonsen Vogt Wiig AS, April 2018

  Autonomous vessels are generating increasing interest in the shipping industry, both due to novelty and promising commercial benefits. However, despite all the buzz actual investments in projects involving autonomous vessels remain few and far between. This article will take a closer look at the commercial and legal realities explaining why there is no imminent sea change in sight...

Tax Reform Extends Credits for Renewable Energy Companies
Moss Adams LLP, April 2018

  The Bipartisan Budget Act of 2018 (Budget Act), which was signed into law February 9, 2018, extends the production tax credit (PTC) and investment tax credit (ITC) that previously applied to only wind and solar companies to other renewable energy resources. Background Under the Protecting Americans from Tax Hikes Act (PATH Act), which President Obama signed into law in 2015, PTCs and ITCs were extended for wind and solar companies...

Transfers of Norwegian Petroleum Licences: is Government Approval Regime Tightening?
Simonsen Vogt Wiig AS, April 2018

An increased number of corporate transactions and mergers have been observed in the oil and gassector on the Norwegian Continental Shelf (NCS) in recent years. Several oil majors and traditionalutilities and downstream companies have reduced their presence and, to some extent, been replacedby smaller companies, including start-ups backed by private equity...

Renewable Energy Guide
Moss Adams LLP, April 2018

Opportunities & Challenges It’s an exciting time with extraordinary potentialfor investors in renewable energy projects.Public support has never been higher and themajority of the largest companies in the UnitedStates continue to set increasingly ambitiousclean energy targets. Federal, state and localgovernments are also continuing to diversifytheir energy supplies to reduce carbon emissionsby encouraging investment in renewable energyprojects—especially through solar and wind...

Belarus is About to Become a Major Crypto Hub
COBALT Estonia, April 2018

“Belarus will become the first government in the world that opens wide opportunities for the use of blockchain technology”, said in a statement on the official website of the President of Belarus. Alexander Lukashenko, who signed the new law of the land, believes that his county “has every chance of becoming a regional center in this area.” The Presidential Decree of the Republic of Belarus No...

Revolutionizing Health Care with Lean Management
Moss Adams LLP, April 2018

  Miraculous things happen in medicine in the United States every day, but health care remains a key issue for Americans because it can often be expensive, hard to access, and frequently unsafe with highly variable quality and patient and staff satisfaction. Adopting lean management has the potential to solve these problems and make health care a more satisfying and less costly experience for patients as well as health care workers...

The New UAE Pledge Law - Promulgation of Regulations That Make Registration Available
Afridi & Angell, April 2018

UAE Federal Law 20 of 2016 (Regarding the Pledge of Movables as Security for a Debt) (the Pledge Law) introduced a new regime for registering a pledge over moveable assets which are pledged as security for the repayment of a debt. We reported on this law in our inBrief of January 2017, New UAE Pledge Law Over Moveable Assets, and our Legal Alert of 19 February 2018, The New UAE Pledge Law – Security Registration...

Protect Your Company from Cyberthreats with Information Security Governance
Moss Adams LLP, April 2018

 If you haven’t been breached yet, you either will be or you don’t know it’s already happened. Organizations that suffer from data and information security breaches find themselves looking for answers to why they were targeted and how they could’ve prevented it. The answer is often that their information security governance (ISG) program wasn’t in place and operating as well as it could’ve been...

When can a difference in pay be justified?
ENSafrica, April 2018

The decision in National Education Health & Allied Workers Union on behalf of Sinxo & others and Agricultural Research Council is important primarily for two reasons. Firstly, it deals with when an employee can claim that he or she has been discriminated against on an arbitrary ground as envisaged in section 6(1) of the Employment Equity Act, 1998 (the “EEA”)...

Key Features of New Data Breach Notification Laws in Alabama and South Dakota
Haynes and Boone, LLP, April 2018

Last month, Alabama and South Dakota became the latest states to enact data breach notification laws. All 50 states now have such laws, but the laws and companies’ obligations thereunder vary widely from state to state. The Alabama and South Dakota laws—described in detail in the chart linked below—are similar to the laws of other states, but each have a few important features to be aware of...

Does the Prescription Act apply to unfair dismissal disputes in terms of the LRA?
ENSafrica, April 2018

The relationship between the periods set for pursuing unfair dismissal claims in terms of the Labour Relations Act, 1995 (“LRA”), and the prescription periods set in the Prescription Act, 1969 (“PA”) has been the subject of some confusion and debate. At the heart of the debate is the interpretation and application of section 16(1) of the PA...

Montenegrin Competition Agency takes over State Aid control
Karanovic & Nikolic, March 2018

As of recently, state aid control is a part of theMontenegrin Competition Agency's (the "Agency") scope of authority...

South African High Court rules that B-BBEE mining deals do not need to be topped up
ENSafrica, April 2018

On 4 April 2018, a full bench of the High Court of South Africa made a groundbreaking ruling on the recognition of the continuing consequences of previous broad-based black economic empowerment (“B-BBEE”) ownership transactions in the mining industry...

Interview with Patricia Gannon: The Importance of Female Leadership in Law Today
Karanovic & Nikolic, March 2018

Patricia Gannon, founding partner at Karanovic & Nikolic, was recently appointed Chair of the European Forum at theInternational Bar Association...

New Islamic Banking Regulations to increase financial inclusion in Uganda
ENSafrica, April 2018

BackgroundThe Bank of Uganda recently released the Financial Institutions (Islamic Banking) Regulations (the “Regulations”), which were gazetted on 2 February 2018. The Regulations seek to operationalise Islamic banking in the country, which was introduced by The Financial Institutions (Amendment) Act, 2016 as part of its wider efforts to boost financial inclusion...

CENACE Announces Call to Bid for the Fourth Long-Term Power Auction in Mexico
Haynes and Boone, LLP, March 2018

On March 15, 2018, the National Center for Energy Control (“CENACE”) announced the fourth long-term auction for the purchase and sale of power, capacity, and clean energy certificates. The term of the contracts for power and capacity will be 15 years while the term for clean energy certificate contracts will be 20 years. The standard commercial operation date of the power generation projects awarded under the auction is scheduled for January 1, 2021...

Can algorithm bias result in employment discrimination?
ENSafrica, April 2018

A modern, technologically driven society generates large amounts of information about members of that society. Think, for example, of the information regarding statuses and activities that banks, credit card providers, medical aid schemes, cell phone networks and employers have in their possession. Think further of the information that Google, Facebook, Uber and Amazon have in their possession...

Part-time Work
Afridi & Angell, March 2018

Now that the Ministry of Human Resources and Emiratisation has issued the new regulations addressing part-time employment, let us take a closer look at what this means. The new measure is Ministerial Resolution 31 of 2018. It does not address part-time work as such, but rather part-time work for someone other than the employee’s regular employer. Before this new measure was promulgated, the Labour Law accommodated part-time work for an employee working for only a single employer...

Government’s drive to achieve black ownership and control, but at what expense?
ENSafrica, April 2018

The South African Department of Trade and Industry (“DTI”) recently published certain draft amendments to the Broad-Based Black Economic Empowerment Codes (“B-BBEE Codes”)  for public comment. The proposed changes appear to signify the government’s drive to achieve more black ownership and control in South African business...

Brexit: Transition Deal Breakthrough
Haynes and Boone, LLP, March 2018

It is one year since the United Kingdom (UK) triggered Article 50 of the Treaty on European Union (EU) by notifying the European Council of its intention to withdraw from the EU. This means that we are now half way through the two year negotiation period during which the terms of the UK’s withdrawal from the EU are due to be concluded...

Is Uganda ready for REITs?
ENSafrica, March 2018

Introduction The Ugandan Collective Investment Schemes (Real Estate Investment Trusts) Regulations, 2017 (the “REIT Regulations”) are the latest initiative by the Capital Markets Authority (the “CMA”) in Uganda...

Kidnap Ransom Insurance: Unlocking Coverage for Ransomware Attacks
Haynes and Boone, LLP, March 2018

By one account, “the cost of global ransomware attacks will exceed $11.5 billion annually by 2019, up from $5 billion last year and $325 million in 2015” – a 35X increase in just four years.1Relative to other cyber crime, ransomware is an equal opportunity enterprise—striking individuals as well as businesses of all kinds...

Alexa... buy me a Hoover
ENSafrica, April 2018

Artificial intelligence (“AI”) is big news at the moment, so it’s no surprise that lawyers are considering the IP issues relating to AI. Some of the implications are really quite profound. In this article, I will discuss some of the copyright and trade mark implications. The copyright issues of AI have been discussed by a number of people...

Brexit: Transition Deal Breakthrough
Haynes and Boone, LLP, March 2018

It is one year since the United Kingdom (UK) triggered Article 50 of the Treaty on European Union (EU) by notifying the European Council of its intention to withdraw from the EU. This means that we are now half way through the two year negotiation period during which the terms of the UK’s withdrawal from the EU are due to be concluded...

Debt forgone for the benefit of mining companies
ENSafrica, March 2018

The South African Taxation Laws Amendment Act, 2017 was signed into law on 18 December 2017 and made some notable changes to the tax regime. In this article, we deal specifically with the amended section 36 of the Income Tax Act, 1962 (the “Act”) by the insertion of subsection 36(7EA) of the Act...

Newbuilding Orders and Prices at Korean Shipyards Are Up, but Too Late Perhaps for Sungdong
Haynes and Boone, LLP, March 2018

The Changwon District Court in South Korea has this afternoon (23 March 2018) issued a comprehensive prohibition order (CPO) following the application of Sungdong Shipbuilding and Marine Engineering Co. Ltd (Sungdong) to enter Chapter 11 Rehabilitation filed earlier this month...

Don't be grumpy!
ENSafrica, April 2018

This is a story of the age, a story of a character that became a global sensation thanks to the internet. The story is also about the creator of that character, who had the foresight to understand that the character might well become a valuable marketing property and took steps to legally protect the character (its name and image) through IP law, particularly trade mark and copyright law, thus creating “the IP rights” and making the creator “the IP owner”...

OSHA Quarterly Newsletter, March 2018
Haynes and Boone, LLP, March 2018

Violating California's Occupational Safety and Health Act May Lead to Civil Penalties On February 8, 2018, the California Supreme Court unanimously ruled that local prosecutors could pursue civil penalties against employers for violating workplace safety standards under California's unfair competition law and fair advertising law, despite the employer's federal preemption challenges. Solus Indus. Innovations, LLC, 228 Cal. Rptr. 3d 406 (2018)...

Design law: a welcome reminder
ENSafrica, April 2018

Two recent European IP decisions are a welcome reminder of that much-overlooked area of IP law: registered designs. If patent protection is primarily about functionality, design protection is primarily about product appearance (more on this later). These European cases are worth discussing because there are very few court decisions on registered designs in South Africa. They are also worth discussing because they highlight two fundamental aspects of design law...

Kidnap Ransom Insurance: Unlocking Coverage for Ransomware Attacks
Haynes and Boone, LLP, March 2018

By one account, “the cost of global ransomware attacks will exceed $11.5 billion annually by 2019, up from $5 billion last year and $325 million in 2015” – a 35X increase in just four years.1Relative to other cyber crime, ransomware is an equal opportunity enterprise—striking individuals as well as businesses of all kinds...

Amendments to Zimbabwe’s indigenisation laws to open economy to foreign investment
ENSafrica, March 2018

Amendments to Zimbabwe’s controversial Indigenisation and Economic Empowerment Act, Chapter 14:33 (the “Act”), were gazetted on 14 March 2018. These far-reaching changes, first announced in the 2018 Budget in December 2017, should pave the way for foreign investors wishing to establish operations in the country and boost the economy...

Luxembourg in Space, One Step Ahead [video]
Arendt & Medernach, March 2018

Discover Luxembourg's space adventure and the challenges the space industry will face in the next decade. Arendt & Medernach, the leading law firm in Luxembourg, continuously supported the space and satellite industries and have developed the firm’s expertise and experience in these domains. We are now really looking forward to helping other businesses on their journeys into space...

The Supreme Court Opens the Door for Shareholders to Bring Public Offering Securities Class Action Claims in State Courts
Haynes and Boone, LLP, March 2018

Yesterday, the Supreme Court issued a much-anticipated ruling that carries important implications for securities class action litigation, now making it easier for plaintiffs to pursue public offering claims in state courts. InCyan, Inc. v. Beaver County Employees Retirement Fund, 583 U.S...

Uganda: when can domestic laws override tax treaties?
ENSafrica, March 2018

In the case of White Sapphire Ltd/Crane Bank Ltd vs the Commissioner General of the Uganda Revenue Authority (“URA”), the Ugandan High Court considered the notoriously controversial anti-avoidance provisions, in terms of which the benefits of a double tax agreement (“DTA”) concluded by Uganda would not be available where at least 50% of the underlying ownership of the resident of the other contracting state is not held by individuals resident in such other contr

Scottish Third Party Rights regime updated – what do employers need to do now?
Shepherd and Wedderburn LLP, March 2018

Parties to a contract can give the right to enforce an obligation in the contract to a third party. For example, they are very often used where a large business enters into a contract with a supplier and wants its group companies to be able to enforce the contract. In England, this is governed by the Contracts (Rights of Third Parties) Act 1999. In Scotland, the legal recognition for this has been a common law principle, jus quaesitum tertio...

The “specific” doubtful debts allowance
ENSafrica, March 2018

Over the past few years, the South African Revenue Service (“SARS”) appears to have created a new category of doubtful debts allowances which they have termed a “specific” doubtful debts allowance, as distinct from the “ordinary” doubtful debts allowance to which a taxpayer is entitled under section 11(j) of the Income Tax Act, 1962 (the “Act”) in the ordinary course in respect of its doubtful debts...

Health Law Vitals - A Healthcare Newsletter from Haynes and Boone, March 2018
Haynes and Boone, LLP, March 2018

View a PDF of the March 2018 edition of the Haynes and Boone Health Law Vitals newsletter. FDA Draft Guidance Proposes Risk-Based Regulatory Scheme for Drug Products Labeled as Homeopathic More than two and a half years after the U.S. Food and Drug Administration (FDA) announced that it was re-evaluating its regulatory framework for homeopathic products, the FDA released itsDraft Guidance on Drug Products Labeled as Homeopathic...

JSE Debt Listings Requirements: project bonds
ENSafrica, March 2018

Following an extensive consultation process over a two-year period with relevant stakeholders in the project finance market, the South African Registrar of Securities Services (the “Registrar”) has announced that the Johannesburg Stock Exchange (“JSE”) Debt Listings Requirements (“DLRs”) have been amended with effect from 1 March 2018 to include a new section 10, which will now specifically cater for so-called “project bonds”...

Mexico: Noise Generated By Aircraft
Haynes and Boone, LLP, March 2018

On February 12, 2018 the Mexican Secretariat of Communications and Transportation (“SCT”) published the draft of Mexican Environmental Standard PROY-NOM-036-SCT3-2017 in the Official Daily Gazette, which sets forth the maximum allowable limits of noise generated by aircraft. Within the next 60 calendar days, any interested party may provide comments to the National Consultation Committee of Air Transportation Standardization...

Self-regulation and the Financial Self-Regulation Committee
Carey, March 2018

As the Commission for the Financial Market (the “Commission”) came into full force this January (read previous news alert here), the regulation of the Chilean financial market took a step forward in terms of institutionalism and modernization. In this context, one of the changes introduced by Law No. 21,000 (the “Law”), that created the Commission, is the self-regulation of entities in the financial market...

Tax Reform – Considerations for U.S. Multinationals
Haynes and Boone, LLP, March 2018

Congress recently enacted comprehensive tax reform (the “Act”). This memorandum highlights some of the provisions of the Act that are particularly relevant to U.S. multinational groups, with a focus on the provisions relating to income associated with intangible property, as defined for applicable U.S. federal income tax purposes. New Corporate Tax Rate The Act significantly changes the U.S...

New international standard a key feature in ENSafrica’s latest anti-bribery and corruption survey
ENSafrica, March 2018

A key feature of ENSafrica’s fourth annual anti-bribery and corruption (“ABC”) survey was understanding whether organisations were familiar with the new ISO 37001 anti-bribery management standard (“ABMS”). The International Organization for Standardisation released the ABMS in October 2016...

Supreme Court Ruling on Insider Status for Cram-Down Plan Threatens Lender Protections in Real Estate Financing Structures
Haynes and Boone, LLP, March 2018

As described in our earlier client alerts, since 1993, a central tenet in the structure of senior real estate lending documentation is the prevention of what is commonly referred to as “cram down...

Amendments to the ARIPO Harare Protocol: modified substantive examination
ENSafrica, March 2018

We have previously reported on the amendments to the Harare Protocol that came into effect on 1 January 2017. One of these changes was that a mandatory request for search and examination must be made to the African Regional Intellectual Property Organization’s (“ARIPO’s”) office within three-years of the ARIPO filing date, along with payment of search and examination fees...

SEC Issues New Interpretive Guidance on Public Company Cybersecurity Disclosures
Haynes and Boone, LLP, March 2018

On February 21, 2018, the Securities and Exchange Commission (the “SEC”) issued interpretive guidance to assist public companies in preparing disclosures concerning cybersecurity risks and incidents...

IP: will you be a player or a hater?
ENSafrica, March 2018

Taylor Swift has been in the IP spotlight again and, as always, there are valuable lessons to be learned. The singer was recently sued in a US court for copyright infringement...

When a Joint Venture Faces Insolvency
Nestor Nestor Diculescu Kingston Petersen, March 2018

Insolvency that stems from the obligations assumed by a joint venture may concern any of the associates. Such proceeding, especially when it has an international dimension, requires a broader perspective on some of the requirements set forth by law with respect to the initiation and application of the proceeding. Through its effects on the debtor, creditors and on the socioeconomic environment in general, insolvency is more than a mere legal procedure...

 

 

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