The November 2016 issue of the Asian Legal Business (ALB) includes a regional update article entitled “Evidentiary Issues in Arbitration”, contributed by SyCipLaw Partner Ramon G. Songco and Associate Arvin Kristopher A. Razon. The article enumerated and discussed the laws that aimed to address concerns in resolving disputes in arbitration, such as how evidence is presented, assessed for relevance and competence, and protected during arbitration proceedings ...
Although neither of the parties objects to solving the dispute in the state court, the Supreme Court of Lithuania sends the parties to arbitration after it discovers a prior written agreement to arbitrate. The issuer of a promissory note (Claimant) requested the state court to declare the promissory note null and void ...
The 2017 edition of Getting the Deal Through: Islamic Finance & Markets features SyCipLaw Of Counsel Mia G. Gentugaya as contributing editor. SyCipLaw Partner Amer Hussein N. Mambuay contributed the Philippine section ...
Article 257 of the UAE Penal Code (Federal Law No. 3 of 1987) was recently amended by Federal Law No. 7 of 2016 to introduce the concept of criminal liability for arbitrators, experts, and translators who issue decisions and opinions ‘contrary to the duties of impartiality and honesty’ ...
It is now more than four months since the seismic shock of the Brexit vote. The honeymoon period of the summer months has passed. The debate has turned to what flavour of Brexit we might be left with and the timing of Article 50 and the level of oversight MPs should have. There remain far more imponderables than facts and this seems set to be case for some time. For those of us who negotiate for a living, this is a reality that is inevitable ...
The reform of French law of obligations implemented by the French ordinance No 2016-131 of 10 February 2016 (the “Ordinance”), conducted after public consultations and high quality working papers, constitutes the deepest overhaul of French contract law since the Civil Code of 1804. The Ordinance applies to contracts entered into as from 1st October 20162, including amendment agreements, tacit renewals and novated contracts executed or occurring after such date ...
On October 26th, 2016, Law No. 20,950, otherwise known as the “Law to Boost Productivity” (the “Law”), was published in the Official Gazette, introducing various modifications to different laws and regulations in order to enhance the country’s productivity through the expansion of the financial system and the promotion of the exportation of services. Main measures for the expansion of the financial system: Several legal provisions of Law Decree No ...
Law No 20,590 (the “Law”), that authorizes the issuance and operation of pre-funded payment methods or any other similar system (the “Prepaid Cards”), by non-banking entities, when these systems involve that the issuer or the operator regularly engages in monetary obligations with the general public or to specific sectors or groups thereof, was published and came in force on October 29, 2016 ...
We are pleased to announce that Karanovic & Nikolic team, together with Freshfields Bruckhaus Deringer, has supported UniCredit S.p.A. (Italy) in a recently closed take-over of the CEE business of UniCredit Bank Austria AG including shareholdings in 13 banks in Southern Europe and CEE as well as a relevant loan portfolio ...
The September issue of the International Financial Law Review (IFLR) included an international briefing article entitled “Facilitating Creditor-Debtor Dealings”. The article was contributed by SyCipLaw partner Russel L. Rodriguez, senior associate John Christian Joy A. Regalado, and associate Jo Margarette W. Remollo ...
? The reform of the French law of obligations implemented by the French ordinance No 2016—131 of 10 February 2016 (the Ordinance), conducted after public consultations and high quality working papers, constitutes the deepest overhaul of French contract law since the Civil Code of 1804. The Ordinance applies to contracts entered into as from 1 October 2016,2 including amendment agreements, tacit renewals and novated contracts executed or occurring after that date ...
With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law ...
Much has been written regarding the enforcement of foreign arbitral awards in China, but relatively little consideration is given to the treatment in U.S. courts of awards entered by the China International Economic and Trade Arbitration Commission (CIETAC), or to the enforcement of CIETAC arbitration agreements. In fact, CIETAC arbitral awards are rejected by U.S ...
SyCipLaw partners Jose Florante M. Pamfilo and Franco Aristotle G. Larcina contributed the Philippine chapter of Herbert Smith Freehills’ 1st edition of Guide to Restructuring, Turnaround and Insolvency in Asia Pacific. The Guide is intended to provide an understanding of the legal framework in different jurisdictions, as well as to address key practical issues commonly encountered when dealing with companies in financial difficulties ...
Arbitral institutions strive to provide the parties they serve with a fair and impartial dispute resolution process that results in an unassailable final award. Since “evident partiality” in the arbitrators is one of the limited means to attack an award, the selection of unbiased arbitrators is fundamental to that goal, and most arbitral institutions have some requirement or guidance on arbitrator disclosures ...
On August 28, 2016, the Israeli District Court of the Central District issued a decision regarding the right of publicity under Israeli Law (In re Fundacio Gala Salvador Dali v. V.S Marketing (Israel 2005) Ltd.). The right of publicity is the right of a person to financially exploit his name, picture or voice ...
Acceleration clauses are commonly found in loan agreements that require debtors to make repayment in instalments. A standard acceleration clause provides that if a debtor fails to pay an instalment, the creditor may elect to terminate the loan agreement and demand payment of the full amount owing under the agreement ...
As we explained previously, in April 2016 the Second Appellate District held that California’s Fair Employment and Housing Act (FEHA) creates a separate duty to provide reasonable accommodation to an applicant or employee who is “associated” with a disabled person. On rehearing of the Castro-Ramirez v. Dependable Highway Express, Inc. decision (Case No. B261165, B262524), the Court has retreated from its prior holding ...
Recently, the Emirates Insurance Authority (the “Insurance Authority”) proposed a regulation in draft form concerning marketing of insurance policies by banks (the “Draft Regulation”). It is intended to regulate local insurance companies that market insurance policies through banks in the UAE ...
Darko JovanovićandMarko Ketler, Partners at Karanović Nikolić, recently commented on the state of the regional NPL market in a View More
Streets named after a country’s heroes and heroines can be a hotly contested and emotive issue, especially in a country such as South Africa, with its colonial and apartheid past. This was illustrated in the recent Constitutional Court case of City of Tshwane Metropolitan Municipality v AfriForum and Another (the “AfriForum case”), which not only dealt with this sensitive topic, but also clarified an important legal issue – whether an interim interdict can be appealed ...
The Philippine section of Getting the Deal Through: Aviation Finance & Leasing 2015 was contributed by SyCipLaw senior associate Bhong Paulo A. Macasaet with associates Aldous Benjamin C. Camiso, Diana S. Gervacio, and Maricar G. Ramos ...
On 21 July 2016, National Treasury released the third draft of the regulations under the Financial Markets Act, 2012 (the “Third Draft Regulations”). The previous draft of the regulations was released in June 2015. The Third Draft Regulations are, together with pending legislation, aimed at progressing the financial sector reform strategy for South Africa ...
