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International arbitration : the ICSID Convention : a convenient solution for companies in conflict with states.
VANDEN EYNDE & PARTNERS, Brussels, Belgium
by Dominique Grisay
The Washington Convention of March 18, 1965 established the International Centre for the Settlement of Investment disputes (ICSID), which was designed to help solving investment disputes between states and nationals of other contracting states. Pursuant to the adoption of this convention, many an international contract have been submitted to the jurisdiction of the ICSID. This tendency has even increased in the latter years.
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The New Czech Labour Code
PETERKA & PARTNERS v.o.s., Prague, Czech Republic
by Michaela Vondrakova
A new labour code, which has recently been passed by Parliament to take effect as of January 1, 2007, after long and stormy discussions, along with some other related new Acts (namely the Act on health insurance and the Act on employee injury insurance, which will probably take effect one year later), will bring the first changes to labour law since 1990.
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ILN Member Beirne, Maynard & Parsons Teams Up With ALM Events for the Second Annual T3 Conference
Beirne, Maynard & Parsons, L.L.P., Texas
by Peter Feldman, Director of Client Relations
First conceived in 2005, the T3 Conference (Trial Tactics & Technology) was developed in response to a rapidly growing need in the legal community for more information about electronic discovery, the evolving Federal Rules of Civil Procedure, and changes that technology was bringing to the way litigation is handled by inside counsel, outside counsel, and the technology consultants who are helping them prepare for and conduct litigation.
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ILN Member Jukka Peltonen of Peltonen, Ruokonen & Itainen Received Two Prizes From the Finnish Bar
Peltonen, Ruokonen & Itainen, Attorneys-at-Law Ltd
by Ari Savela
Jukka Peltonen has been elected 8.12.2006 as an attorney of the year 2006 by the Helsinki Bar Association. One of the main factors for the election was Peltonen's valuable work for the development of advocacy law.
Jukka Peltonen received 12.1.2007 the Matti Ylöstalo Prize given by the Foundation of the Finnish Bar Association. The prize was given for his long and significant work for advocacy law and for the Finnish bar.
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China Issues New M&A Regulations
Lehman, Lee & Xu, Beijing
by Sandy Lin
On August 8, 2006, the Ministry of Commerce (“MOFCOM”) of the People’s Republic of China (“PRC”) and five other Chinese government authorities issued the Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors (the “2006 Regulations”), which expand on and replace the Provisional Regulations on Mergers and Acquisitions of Domestic Enterprises by Foreign Investors (the “2003 Provisional Regulations”) previously promulgated in 2003. The Regulations, effective from September 8, 2006, are considered as a significant development in China’s regulatory regime relating to mergers and acquisitions.
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Taxation Aspects on M&As in Indian Jurisdiction
Singhania & Partners, India
Mergers and acquisitions are an important tool of economic development and every effort should be made to incentivise the merger process in the country. Fiscal statutes form an important means of economic development by providing benefits to the concerned businesses. Large scale mergers are occurring at a fast pace within and outside the country. In this regard the income tax legislation in India is quite development oriented for domestic companies going in for merger or amalgamation and acquisition. In India, the Income Tax Act, 1961 is the primary legislation dealing with taxability of income arising in the hands of an individual or business entity. An important question that arises here is: What are the benefits available under the Income Tax Act, 1961, to companies going in for merger or acquisition.
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Has a Letter of Intent binding effects, according to Brazilian Law?
Nehring & Associados, Sao Paulo
by Sueli Avelar Fonseca
In general there is a unanimous understanding that a Letter of Intent is not binding since, through such kind of document, the parties only aim to approach themselves and to establish certain terms for a future transaction, not yet defined.
As a consequence, any party has the right to go out of the negotiation without any reason and without any payment, only arguing lack of interest on the business.
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Lommen Nelson has eight Super Lawyers this year!
Lommen Abdo
www.lommen
Lommen Nelson has eight Super Lawyers this year! Phil Cole was selected as one of the Top 100 Super Lawyers and one of the Top 40 Business Litigation. Our other Super Lawyers were Bob Abdo, Bob King, Roger Stageberg, Kay Nord Hunt, Keith Broady, Ken Abdo, Dan Satorius and Reid Lindquist. All eight of our Super Lawyers were highlighted in the August editions of Minnesota Law & Politics, Twin Cities Business Monthly and MPLS.ST.PAUL magazines. Only the top 5% of Minnesota lawyers receive this distinction. 2006 is the 15th year Law & Politics has been publishing Super Lawyers in Minnesota.
For more Lommen Nelson News, please read the complete article
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Lucrative Set-Aside and Sole Source Federal Contracting Opportunities Exist for Small Businesses
WolfBlock Public Strategies, LLC, Washington
www.wbpublicstrategies.com
Small businesses are eligible for unique contracting opportunities with the Federal Government, including the right to compete for contracts set-aside exclusively for small businesses and to receive contracts on a sole source basis. Competitive and sole-source contracts may be set-aside for:
• Small businesses generally;
• Small, disadvantaged businesses under the Section 8(a) Business Development Program (the “8(a) Program”) or the Small Disadvantaged Business (“SDB”) Program; or
• Small companies located in Historically Underutilized Business Zones ("HUBZones").
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Options to Achieve Trade Mark Rights in Europe for Asian Companies and Citizens
Göhmann
www.goehmann-wrede-haas,de
by Marga Wolpert
German trade marks can be registered by all natural persons, legal entities and partnerships of all countries. If the person, legal entity or partnership does not have a real and effective industrial or commercial establishment or a domicile in Germany the trade mark has to be filed by a German representative.
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Acquisition of Italian On-going Business within the frame of Group to Group Cross-Border Acqisition Projects
Corrado, Ferrari, Mainieri, Pedeferri Law Firm
by Antonello Corrado and Caterina Mainieri
The number of cross-border acquisitions has been rising for several years, and today this kind of operation represents one-third of the total number of acquisitions executed world-wide. Although the economic recession of the last few years has slowed down such growth, cross-border acquisitions still represent a relevant instrument by which companies are able to acquire market shares, eliminate
competitors, restructure business organizations and cut unsustainable branches of their business. This article aims to highlight, from the perspective of Italian law, the main issues related to an acquisition project involving companies or on-going businesses located in different countries and jurisdictions (i.e.
Cross-Border Acquisitions Project).
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