In a recent First-tier Tribunal Tax Chamber case it was held that HMRC regulations which require the electronic filing of VAT returns were discriminatory. The full decision (which runs to some 154 pages) can be found here.The electronic filing of VAT returns was made compulsory for all businesses with a turnover of over £100,000, and any newly registered business, with effect from 1 April 2010 and for all businesses with effect from 1 April 2012 ...
The case arose out of the construction of a petrochemicals plant in the north east of England. The parties entered into an engineering procurement construction (EPC) contract for delivery of the plant.The purchaser, Sabic UK, considered that the contractor, Simon Carves, was not proceeding with due diligence as required by the EPC contract.Having issued a warning notice under the contract, Sabic terminated the contractor's employment ...
Background Following a recent YouGov survey's finding that 85 per cent of SMEs in the UK have been affected by late payments over the past two years, Prime Minister David Cameron has announced that the UK government is to launch a consultation this year to examine ways of reducing this problem, and find solutions to ensure payments are made more timeously to SMEs by larger companies ...
In our Autumn update, we start with a nature theme by looking at problems caused by tree roots and Japanese knotweed. We also round up news on business rates and the new CRAR regime and then finish with a stark reminder about the perils of remaining in occupation once a lease has ended ...
On December 2, 2013 the US Supreme Court will hear oral arguments in BG Group v. Argentina, addressing for the first time the applicable rules when a US court reviews an international arbitral award made under a bilateral investment treaty. This case has earned the attention of the international arbitration community, given its potential impact on future arbitral practice in the United States and abroad ...
The "pay when paid" issue has troubled the construction industry for many years. It refers to payment terms contained in a sub-contract, which typically provide that the main contractor shall pay the sub-contractor a certain period of time after the main contractor has received payment from the employer. The controversy is whether the phrase should be construed as creating a condition precedent to the main contractor's liability to the sub-contractor ...
This year the North Carolina Court of Appeals issued an opinion that effectively nullifies many construction warranties. In Christie v. Hartley Construction, Inc., et al., No. COA12-1385, the Court limited warranties for construction defects to six years, even when the contractor or product manufacturer expressly provides a longer one. Plaintiffs George and Deborah Christie contracted for the construction of a custom home in Chapel Hill, North Carolina, in 2004 ...
FUNGAL CONTAMINATION AND COMMERCIAL LEASES Fungal contamination: a complex problem The detection of a fungal contamination problem in a building can be a complex operation. For example, recurring water infiltration due to leaks in a building’s outer envelope can create an environment that is conducive to the growth of mould in spaces not visible to the occupant, such as behind walls, in ventilation conduits, and in the plenums of the ventilation system ...
Condominium and villa investors will have a more affordable, flexible and attractive opportunity to invest in the Turks and Caicos Islands’ (TCI) real estate following the enactment of the Fractional Ownership Ordinance. The Ordinance has not yet come into force, but shall do so once a notice has been published in the gazette, to this effect ...
In 2010, the New York State Bar Association’s (NYSBA) Task Force on New York Law in International Matters (Task Force) recommended the creation of a permanent center for international dispute resolution in New York.1 And on June 17, 2013, the New York International Arbitration Center (NYIAC), a non-profit providing world-class arbitration facilities and educational programs about international arbitration, opened its doors ...
Unlike the position in England, in Scotland there is virtually no statutory protection for a commercial tenant at the expiry of their lease.Provided sufficient notice has been given by their landlord, the lease will come to an end on the expiry date and, unless a deal can be struck with the landlord, the tenant is required to leave the property on or prior to that date ...
Institutional Shareholder Services ("ISS") recently announced its updated voting policies for the 2014 proxy season. The policies will become effective for shareholder meetings held on or after February 1, 2014. We have summarized below four policy updates relating to corporate governance matters that may be of particular interest to US corporations. Simplified Pay-for-Performance Executive Evaluation ISS revised its policy relating to executive pay-for-performance evaluations ...
A Pennsylvania appellate court in Indalex, Inc. v. National Union Fire Ins. Co., No. 612 WDA 2012 (Dec. 3, 2013), found that a general liability insurer must defend a window and door manufacturer against claims alleging that defects in the manufacturer’s windows and doors caused damage to property and bodily injuries ...
On 22 November 2011, the Court of Justice of the European Union (CJEU) rendered two very important rulings in the Medeva (C-322/10) and Georgetown (C-422/10) cases. Those rulings however raised new issues that national patent courts quickly referred back to the Court. Yesterday, the CJEU decided on three Medeva follow-up cases. The new rulings brought more clarity about the conditions under which an SPC may be granted ...
On January 2, the Antitrust Division of the US Department of Justice (DOJ) announced its first civil enforcement action of 2014 — a consummated merger challenge and settlement resulting from Heraeus Electro-Nite’s (Heraeus’s) $42 million acquisition of Midwest Instrument Company Inc. (Minco). The enforcement action is the latest DOJ challenge to a merger not required to be reported to the US antitrust agencies under the Hart-Scott-Rodino Act ...
In Ass’n For Molecular Pathology v. Myriad Genetics, Inc., the Supreme Court held that "a naturally occurring DNA segment is a product of nature and not patent eligible merely because it has been isolated, but that cDNA is patent eligible because it is not naturally occurring." 133 S. Ct. 1207 (2013). Further, fragments that are "indistinguishable from natural DNA" are not statutory subject matter. Id., 2119 ...
A New York appellate court affirmed in Syracuse Univ. v. National Union Fire Ins. Co., CA 13-01056, (N.Y. Sup. Ct. App. Div. Dec. 27, 2013), that an insurer must pay the costs incurred by its policyholder to comply with subpoenas issued to the policyholder as part of a criminal investigation, even where formal charges are not filed ...
Effective January 1, 2014, the International Chamber of Commerce (“ICC”) replaced its Amicable Dispute Resolution rules with new Mediation Rules. The new ICC Mediation Rules (the “Rules”) set clear parameters for mediating disputes, while also providing for additional flexible procedures that allow the parties to resolve their disputes privately and confidentially ...
The dispute resolution terms of engineering contracts can cause problems. An example is the recent case of Tubular Holdings (Pty) Ltd v DBT Technologies (Pty) Ltd, an unreported decision of South Gautend High Court. DBT Technologies - a subcontractor to Eskom in the Kusile Project 0 further contracted to Tubular Holdings in a deal worth some R 1.3 billion. Contract FIDIC's clause 20 governs the dispute resolution procedure. Clause 20 ...
The Serbian Government has taken first steps of implementing a new court system with the passing of a new Law on Seats, Jurisdictions of Courts and Public Prosecution Offices (Official Gazette RS no. 101/2013), and amendments to the Law on Organisation of Courts (Official Gazette RS no. 116/2008, 104/2009, 101/2010, 31/2011, 78/2011 101/2011, 101/2013), which came into force on 1 January 2014 ...
False labeling of products, fake or inferior materials and components used to make products, and the misappropriated use of another’s trademark are examples of how counterfeit goods and the theft of intellectual property are hurting consumers and companies. The world markets and global supply distribution chains provide opportunities for companies to grow and prosper. Sales through the Internet allow for products to be sold and sent to almost anywhere in the world ...
Many companies provide annual earnings guidance and quarterly updates to the analyst and investor communities. Guidance is also frequently updated during industry conferences and in nondeal roadshows. A failure to meet the market’s earnings expectations can negatively impact management’s credibility and, in turn, the price of the company’s common stock. The importance of earnings guidance is heightened during an equity offering when a company is actively soliciting investors ...
