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Focus on COP26: The Future of Affordable Living
Shoosmiths LLP, September 2021

The hosting of COP26 in Glasgow this year shines a spotlight on the UK in relation to sustainability performance, applying more pressure on organisations to demonstrate their green credentials and to encourage the development and usage of sustainable technologies in the race to net zero. One sector in particular that is leading the charge on decarbonisation is the affordable housing sector, but barriers exist and challenges endure...

Requirement for UKCA Marking Deadline Extended by One Year
Shepherd and Wedderburn LLP, September 2021

 On 24 August 2021, The Department for Business, Energy and Industrial Strategy (BEIS) granted a one-year extension for manufacturers to begin applying the UK Conformity Assessed (UKCA) marks for products marketed in the UK. The new deadline is 1 January 2023. UKCA marks replace CE marks in the UK...

Cambodia: Procedures and Implementation Guidelines for Checklist in Preparing the Initial Environmental and Social Impact Assessment Report
DFDL, September 2021

On 29 June 2021, the Ministry of the Environment (“MOE”) issued five new Prakas pursuant to Prakas No. 021 dated 3 February 2020 on the Classification of Environmental Impact Assessments (“EIA”) for Development Projects. These new Prakas determine the procedures and implementation guidelines for checklists used to prepare initial environmental and social impact assessment (“IEIA”) reports...

California Privacy Rights Act – What's Next?
Hanson Bridgett LLP, September 2021

In the November 2020 election, California voters approved the California Privacy Rights Act of 2020 (“CPRA”) amending the California Consumer Privacy Act of 2018 (“CCPA”). Businesses are expected to comply with the CPRA by January 1, 2022. Together, the CCPA and CPRA set out standards that California businesses must follow in gathering and maintaining personal information about consumers...

An In-Depth Look at the Oakland A's Proposed New Stadium Project
Hanson Bridgett LLP, September 2021

Key Points Opponents of the proposed Oakland A's stadium at Howard Terminal argued that the Governor missed a deadline to certify the project for an expedited environmental review pursuant to Assembly Bill (AB) 734, a special purpose bill.   AB 734 contained no explicit deadline for certification, but it incorporated guidelines from AB 900, as amended, which did include a certification deadline...

Later Living Lingo
Shoosmiths LLP, September 2021

Boomer’s accommodation is booming. Investors are keen on Later Living as an area with incredible demand and limited supply. So, to ensure you are talking the right lingo, we thought we could help out with an alphabetical glossary of key terms. Later Living, as a phrase and a distinct subsector of the residential property market, is the “catch all” term used for the assorted types of accommodation available to people in later life...

SAFEs-Start-Up Company Financing
Afridi & Angell, September 2021

The UAE has seen a significant increase in investments and entrepreneurship over the last decade. The Dubai International Finance Centre (DIFC) reported record growth driven by ‘a robust ecosystem, global partnerships and investment in FinTech and Innovation’. This exceptional growth in investments has acted as a catalyst for the increased usage of Simple Agreements for Future Equity (SAFEs) in start-up company financings...

The Dramatic Increase in UK Megadeals
Shoosmiths LLP, September 2021

A new report by Shoosmiths, in partnership with Beauhurst, shows that the number of venture capital ‘megadeals’ in the UK has increased tenfold over the last decade. In 2011 a modest five ‘megadeals’ (where £50 million or more is invested into a company) occurred, compared with an astounding 51 megadeals in the first half of 2021...

Chilean Executive Presents “FinTech Law” Bill
Carey, September 2021

On September 3, the executive presented to Congress the anticipated draft of the "FinTech Law", the new regulation that proposes a legal framework applicable to FinTech companies in Chile (the "Bill"). Until now, FinTech companies in Chile have operated without their own or specially designed legal framework, which has generated a series of regulatory inconveniences that have impacted their business model and hindered the development of these technologies in Chile...

Cambodia: Placement of Devices to Measure Volumes of Beer and Non-Alcoholic Beverages to Comply with New GDT Instruction
DFDL, September 2021

On 8 September 2021, the General Department of Taxation (“GDT”) issued Instruction No. 15024 on the obligation to install devices to measure the volume of beer and/or non-alcoholic beverages on the sites of local beverage producing enterprises...

Chilean FNE and Ministry of Economy Issue new Merger Notification Regulation
Carey, September 2021

On September 6, 2021, the National Economic Prosecutor's Office ("FNE") and the Ministry of Economy announced a new regulation regarding the mandatory or voluntary merger control notification, as provided for in Title IV of Decree Law No. 211...

Tech Disputes: Exclusions and Limitations of Liability
Shoosmiths LLP, September 2021

Exclusion and limitation clauses are central to any IT or technology contract. When a dispute arises exclusions and limitations of liability are invariably key to determining whether there is liability and the extent of it. When a dispute arises exclusions and limitations of liability are very often key to determining whether there is liability, and the extent of it...

The Ultimate Punishment – Fines which Threaten the Viability of a Company
Shoosmiths LLP, September 2021

On 9 July 2021, Canterbury Crown Court imposed a record £90 million fine on Southern Water after the water and sewerage company admitted widespread and long term breaches of environmental law. Sentencing, the Honourable Mr Justice Johnson is reported* as saying he was aware that the company’s “continued viability” may be reviewed following the fine, but that this was “an acceptable consequence of the seriousness of those failings”...

COVID-19: Payments on Account and Depreciations for a Longer Period than the Maximum Period Established for Tax Purposes
Garrigues, September 2021

In the context of the current COVID-19 pandemic, new measures were approved to enable companies to increase their cash flows. Payments on account (FY2021) Taxpayers who are cooperatives or have obtained in the 2020 fiscal period a turnover up to the maximum limit set for their classification as medium-sized enterprises (i.e...

A Country Divided: Alert Level Differences and New Zealand’s Construction Supply Chain
MinterEllisonRuddWatts, September 2021

The Delta variant’s arrival in New Zealand has resulted in a range of novel issues impacting the construction industry.  The latest has arisen due to the interregional differences in Alert Levels.  While Auckland remains at Level 4 until at least 11:59pm on Tuesday 14 September, from 11:59pm tonight, the remainder of New Zealand will move to Level 2...

Corporate Restructuring Strategies for the Post-Pandemic Recovery
Kudun and Partners, September 2021

Businesses in Thailand are facing a difficult road ahead. The latest wave of COVID-19 infections continues to hammer the economy, further delaying a recovery that many companies were counting on to relieve their financial woes. Those struggles have been considerable. According to the National Economic and Social Development Council (NESDC), Thailand’s gross domestic product shrank by 6.1% in 2020 – the steepest decline since the Tom Yum Kung financial crisis of 1997...

Booming Market: Real Estate Ownership Rules for Foreigners in Dubai and Abu Dhabi
Afridi & Angell, September 2021

The real estate market in Dubai has been making significant improvements in 2021 after the successful handling of the COVID-19 pandemic by the UAE. March 2021 had the highest number of transactions in 16 months as well as the highest number of secondary/ready properties transacted for foreigners in a single month since June 2015. This boom in sales resulted in record increases (23 per cent annual increase between April to June for luxury villas)...

Insolvency in Scotland: Back to Basics – Part 1, Winding Up
Shoosmiths LLP, September 2021

This is the first article in 'Back to Basics', a series of articles looking at insolvency processes in Scotland. In this article I examine the court process for winding up a company. A winding up petition is a form of legal action that can be used when a company is unable to pay its debts as they fall due. Sections 122 to 124 of the Insolvency Act 1986 (‘the Act’) deal with how to wind up a company in Scotland...

BEFORE THE WALLS COME CRUMBLIN’ DOWN: Lessons that Condo Associations Can Learn from Surfside, Florida Condominium Building Collapse
Buchalter, September 2021

  Surfside Collapse – what we know so far: On Thursday, June 24, 2021, at approximately 1:25 a.m., Champlain Towers South, a twelve-story beachfront condominium in the Miami suburb of Surfside, Florida, partially collapsed. The collapse was reported as the third deadliest structural engineering failure in United States history. Ninety-eight people were confirmed dead, only four people were rescued from the rubble...

Managing Transfer Pricing Risk during the COVID-19 Pandemic
ENSafrica, September 2021

It seems like an eternity ago since the World Health Organisation declared a pandemic on 11 March 2020. Governments around the world have responded to the pandemic in different ways, including various degrees of lockdowns, travel restrictions and fiscal and monetary support for some of the most affected industries. This has led to unprecedented disruptions of the global economy and affected business models of many multinational enterprises (“MNEs”)...

Prevent and Combat Money Laundering and Terrorist Financing in the Real Estate Sector
PLMJ, September 2021

Regulation 603/2021 was approved by the Governing Board of the Institute of Public Markets, Real Estate and Construction I.P. (“IMPIC”) and came into force on 5 July 2021. The aim of this regulation (“Regulation”) is to establish and regulate the procedures to be adopted in the fight against money laundering and terrorist financing in the real estate sector...

What We’re Seeing: Margin Ratchets in Environmental, Social and Governance (‘ESG’) Loans
Shoosmiths LLP, August 2021

Margin ratchets are a concept that the banking and finance world are familiar with. Increasingly these are linked to ESG loans with both lender and borrower engagement. How do they work in practice, what are the benefits and what are the potential risks? Typically margin ratchets are linked to financial covenants – more often than not leverage – they incentivise borrowers to improve their financial health over the life of a loan...

Dealing with the Impacts of Global Supply Chain Disruptions in Construction Contracts
MinterEllisonRuddWatts, August 2021

In the wake of the global COVID-19 response, the construction sector is facing an unprecedented level of pressure in supply and demand for building materials both domestically and internationally, resulting in a sharp surge in costs and delays and disruption in construction and infrastructure projects...

Telepharmacy: The Future of Digital Healthcare
Kudun and Partners, August 2021

During the COVID-19 pandemic, when hospitals have increasingly experienced a shortage of beds and medical staff to take care of patients, telepharmacy has emerged as one of the most effective ways to reduce the number of people visiting not only the hospitals themselves but also pharmacies and health clinics. Telepharmacy is the provision of pharmaceutical care to patients remotely by registered pharmacists and pharmacies using telecommunications...

Managing Risk Throughout the Construction Materials Shortage
Shepherd and Wedderburn LLP, August 2021

  It will be news to few that the construction industry is experiencing a serious shortage of key materials. The Construction Leadership Council first warned of shortages (in timber, steel, pitched roofing, plastics, paints/coatings, some electronic components and cement – among other materials) early this year, and has reiterated its concerns since...

 

 

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