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New exemptions align Jersey’s prospectus rules with familiar UK/EU exemptions
Carey Olsen, October 2021

The current prospectus rules The current Jersey definition of “prospectus” has often meant that a securities offer by a Jersey company is a prospectus for Jersey law purposes, even where an exemption from the obligation to produce an approved prospectus is available in other jurisdictions in which the offer will be circulated...

Jersey: A clear route to market
Carey Olsen, October 2021

There has been an increase in market capitalisation of Jersey listed companies on global exchanges from £269 billion in 2014 to £278.9 billion in 2021. Furthermore, The International Stock Exchange (TISE) has seen the number of listings increase from 2,272 in 2016 to 3,431 securities on its official list at end of June 2021. These are just some examples which explain why Jersey is now regarded as a premier international finance centre...

Important Bermuda judgment on the role of protectors in offshore trusts
Carey Olsen, October 2021

In the Matter of the X Trusts [2021] SC (Bda) 72 Civ (7 September 2021) Assistant Justice Dr Ian R.C. Kawaley of the Supreme Court of Bermuda has handed down significant guidance to assist in the understanding of this important relationship in offshore trusts...

Panel Speaker at the Legal in Action on Facebook Live organized by ?????? Thai Business and TLCA
Kudun and Partners, October 2021

Kongkoch Yongsavasdikul, partner and co-head of Startup Practice was invited to speak on the legal landscape of Startups in Thailand in the session “FinTech, AI & Fundraising – In Action: Series A & Beyond” by Legal in Action, hosted by Khun Peangpanor Boonklum with other speakers; Dr. Sutapa Amornvivat, PhD and Dr. Nattavut Kulnides. Thanks to Legal in Action and host Khun Peangpanor for inviting our partner as a speaker...

Whistleblowing in the COVID Era - Confidentiality
Shoosmiths LLP, October 2021

In our fourth article on whistleblowing claims we focus on the need, in sensitive situations where concerns of serious (and perhaps even criminal) wrongdoing are raised, for the complaint to be dealt with confidentially and/or anonymously where possible...

New Guidance for Adverts Promoting In-Game Purchases Released by CAP and BCAP
Shepherd and Wedderburn LLP, October 2021

This month the Committee of Advertising Practice (CAP) and the Broadcast Committee of Advertising Practice (BCAP) released new guidance for advertisements used to promote in-game purchases. This guidance applies to providers of online gaming services that offer users the opportunity to purchase virtual items in real-time, such as virtual currencies or extra lives...

Visit Visas for Short-Term Work
Shepherd and Wedderburn LLP, October 2021

British businesses have long relied on temporary labour from the European Union to service short or medium-term projects. From an immigration perspective, prior to Brexit this relationship used to be frictionless. There was no red tape and no need to worry about what was or was not permitted under the UK’s immigration rules and policies. People arrived, people worked, people left and businesses were happy...

Collateral Warranties as Construction Contracts: A Cautionary Tale
Shepherd and Wedderburn LLP, October 2021

Toppan Holdings Limited and Abbey Healthcare (Mill Hill) Limited v Simply Construct (UK) LLP In the case of Toppan Holdings Limited (“Toppan”) and Abbey Healthcare (Mill Hill) Limited (“Abbey”) v Simply Construct (UK) LLP (“Simply”) the TCC held that a collateral warranty between Abbey and Simply was not a construction contract and therefore Abbey could not enforce an adjudication between the parties...

Can You Inherit Digital Assets?
Shepherd and Wedderburn LLP, October 2021

  Every day, our digital footprint gets larger as we continue to rely more heavily on technology in our day-to-day lives. From an inheritance and succession point of view, this poses an important question: What happens to our digital assets when we die? Often when writing a will, people will consider any physical property they own as well as any investments and sums held in bank accounts...

Our top tips on calculating child maintenance
Shoosmiths LLP, October 2021

Many separating parents use the Government’s online calculator to agree their child maintenance payments. We are fully supportive of parents reaching their own agreements, however using the online calculator may not always result in the right payment if parents are not fully conversant with the rules. Even parents who formally apply for an assessment by the Child Maintenance Service (previously The Child Support Agency) need to be on their guard...

The Pension Schemes Act 2021: what’s in force and what you need to know about it
Shoosmiths LLP, October 2021

The Pension Schemes Act 2021 (the 'Act') amends the Pensions Act 2004 (the '2004 Act') in order to provide the Pensions Regulator ('TPR') with a wealth of new powers. Now that the day we have all been waiting for, 1 October 2021 (when the majority of the Act’s provisions were due to come into force) has come and gone, we’re taking a look the material provisions which came into force on that date - and what those changes mean...

Overview of REITs with buy-back conditions: The new mechanisms to help real estate owners survive in the midst of Covid-19
Kudun and Partners, October 2021

It is apparent that the Covid-19 pandemic has had a tremendous impact on every business sector. Above all, the hospitality industry has taken the hardest hit, as tourism is its primary source of revenue.  Due to a lack of financial liquidity and growing expenditure, it is not an overstatement to predict that real estate owners in the hospitality sector would be compelled to sell their operating assets potentially at an unfavorable price in order to survive during this challenging time...

Attorney Spotlight: Alé Dalton
Bradley Arant Boult Cummings LLP, October 2021

In which office are you located? Nashville Tell us a little about your practice. I work with clients that operate in the healthcare space or that are healthcare adjacent. My work primarily centers on providing guidance during mergers and acquisitions, as well as guiding clients through issues that arise from the complex nature of operating in a highly regulated industry. I also advise clients in matters involving clinical research and telemedicine...

Brown Act in a Time of Pandemic: the Governor Vetoes AB 339
Hanson Bridgett LLP, October 2021

Key Points Governor Newsom vetoed AB 339. AB 361 will continue to operate as currently construed. On October 7, 2021, Governor Newsom vetoed Assembly Bill (AB) 339 (Lee), a bill aimed at addressing Brown Act teleconferencing requirements for large public entities. AB 339 sought to add special rules for meetings of city councils or county board of supervisors that govern jurisdictions containing at least 250,000 people...

Cambodia: Increase in Minimum Wage for 2022 – Garment, Textile, Footwear, Travel Product & Bag Sectors
DFDL, October 2021

On 28 September 2021, the Ministry of Labour and Vocational Training (“MLVT”) issued Prakas 264 on the Determination of Minimum Wage for Workers in the Garment, Textile, Footwear, Travel Product and Bag Sectors (“Prakas 264”), to set new minimum wage for 2022, which will be effective from 1 January 2022. Under Prakas 264, workers in the relevant sectors will be entitled to the following new minimum wage: For regular workers, USD 194 per month...

Thailand: Overseas E-Commerce or Online Platforms Must Now Pay VAT on Services Supplied to Consumers in Thailand
DFDL, October 2021

On 10 February 2021, the Royal Thai Government Gazette announced the Act Amending Revenue Code No.53 (the “Act”). This Act stipulates that overseas electronic service providers and online platforms must now register for and pay VAT on electronic services, delivered over the internet or other electronic networks (“Electronic Services”) supplied to non-VAT registered consumers in Thailand. This VAT applies to such transactions from 1 September 2021 onward...

El Salvador: Bitcoin Law
Consortium Legal - El Salvador, October 2021

Preliminary concepts:   Prior to conducting an analysis of the Bitcoin Law (hereinafter “BTC Law”), it is important to clarify two fundamental concepts regarding this type of digital assets:   – What is bitcoin?   A bitcoin is a decentralized digital asset created in 2009 by one or more people under the pseudonym of Satoshi Nakamoto, with the mission of being a virtual currency or an instrument of electronic exchange to acquire products and services

El Salvador: Of the judicial proceedings for the declaration of incapacity and appointment of a guardian
Consortium Legal - El Salvador, October 2021

The judicial declaration of incapacity is the process that is followed before a family judge who after exhausting the due process declares a final judgment in which determines that a person suffers from a cause of incapacity that is that a person who must be fully capable to exercise his or her rights and obligation on his or her own is not, being necessary to carry out the proceedings where he or she is declared as incapable...

El Salvador: Advance payment of the Income Tax
Consortium Legal - El Salvador, October 2021

Advance payment can be understood as: “… the payment made before the occurrence of the generating event that constitutes the future and uncertain event on which the legal force of the obligation depends” (Giulani Fonrouge and Susana Navarrine in “Procedimiento Tributario”, Editorial de Palma, page 159)...

El Salvador ´s Crypto Ecosystem and next steps to implement
Consortium Legal - El Salvador, October 2021

“The journey of a thousand miles begins with one step.” Lao Tzu.   On Wednesday, June 9, El Salvador published in its Official Gazette a historic event worldwide, the first law in the world that provided a digital asset, specifically the bitcoin with unrestricted and unlimited clearance power in any transactions that natural persons, public or private legal entities carry out in any capacity, therefore, bitcoin became a legal tender in El Salvador...

Important aspects in recruitment and selection processes
Consortium Legal - El Salvador, October 2021

Regional Labor Team   The recruitment and selection process is critical for companies and certain principles related to the dignity of the human person must be respected during its execution...

 Enactment of SB 164 and Changes to Oregon’s Corporate Activity Tax          
Schwabe, Williamson & Wyatt, October 2021

Although Oregon’s 2021 legislative session turned out to be relatively quiet from a tax perspective, we did experience some changes to Oregon’s Corporate Activity Tax (“CAT”). Those changes were primarily in the form of SB 164. The enactment of SB 164 ushers in the following CAT changes. Fiscal Year Filings...

Class Deviations
Schwabe, Williamson & Wyatt, October 2021

The Department of Defense (DoD) and the Civilian Agency Acquisition Council (CAAC) have both issued new Class Deviations from the FARs that implement Executive Order 14042, Ensuring Adequate COVID Safety Protocols for Federal Contractors (i.e., the federal contractor vaccine mandate)...

A “sea change” in attitudes towards third party litigation funding in Jersey
Carey Olsen, October 2021

What is litigation funding and why is it attractive? Also known as legal finance or litigation finance, third party funding – historically – was considered an improper or corrupting influence on litigation. These old offences of champerty and maintenance were first decriminalised in England in 1967...

Trusts, turmoil, and the tropics – a Cayman Islands perspective
Carey Olsen, October 2021

In fact, the impact of the pandemic on private clients has been the opposite: many have experienced increases in their personal wealth that have been nothing short of startling. According to the Global Wealth Report published by Credit Suisse in June 2021, more than five million people became millionaires across the world in 2020 despite economic damage from the Covid-19 pandemic...

 

 

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