Recently, the Hon’ble Supreme Court of India, in the case titled Oriental Insurance Company Vs M/S Narbheram Power & Steel Ltd., adjudicated upon the interpretation of arbitration clauses under Insurance agreements/contracts. In the present case the Respondent entered into an Insurance Policy pertaining to “Fire Industrial All Risk Policy” with the Appellant in respect of the factory situated in Odisha.

In October 2013, a cyclone affected large parts of the state including the Respondent's factory. Respondent suffered damages estimated at INR 39,336,224. Accordingly, the appellant being the Insurer was informed and a surveyor was appointed. Based on the report of the surveyor, Respondent requested the Insurer to settle its claim. As the claim was not settled, Respondent invoked the arbitration agreement.

Read the full article and find out how Court interpreted clause 13 of the policy.

Thanks to Compliance, institutions are able to conduct their operations and activities ethically, with the highest level of integrity, whilst at the same time fulfilling all of the legal and regulatory requirements (known as external requirements) and all of the industry regulations, policies and procedures adopted by firms (known as internal requirements).

Nowadays, there is no question that putting in place an efficient and effective Compliance Management System (CMS) within institutions can diminish or even nullify the risk of penalties, lawsuits or the definitive closure of businesses.

In a few words, a CMS is a comprehensive program (consisting of processes, documents, controls, tools and functions) that helps an organisation to fulfill the legal requirements and therefore minimize or even eliminate harm due to legal infringements.

This article describes the current existing Compliance Models and explains about the UK Bribery Act 2010.

The ABL Young Lawyer’s Group has published its 7th Report on ‘Capital Gains Taxation”. The Report provides a brief overview of the principles governing capital gains taxation; focusing specifically on the sale of shares in a company and the sale of real estate in each of the countries mentioned.

Read the full article.

When we die someone needs to take responsibility for dealing with our affairs, including organising our funeral, settling our debts and passing on gifts of money, property or possessions in accordance with the terms of our will or the rules of intestacy when no will has been made. This is known as probate.

In this article, Gail Hall, wills and probate expert at Warners Solicitors in Kent explains how the first step in this process usually involves applying for a grant of probate once the value of the estate has been established.

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With the advent of globalization, the commercial world has seen an exponential increase in cross-border trade and commerce. This has lead to an increase in the number of commercial disputes as well. International arbitration has become the preferred remedy for adjudicating such disputes. However, excessive intervention by the national courts, generally defeats the aim of the arbitration procedure which is to provide speedy adjudication of commercial disputes.

This research paper analyses the recent judicial trends pertaining to the enforceability of International Arbitral Awards in India.

By the end of 2018, over 50% of companies affected by the GDPR will not be in full compliance with its requirements. Taking effect in May 2018 the European Union General Data Protection Regulation will require global organizations to control processes and protect the personal data of

EU citizens on a much higher level than they do today.
The issue of data protection is closely correlated with e-commerce law. Combined they will regulate how retailers conduct business electronically cross-borders, how they approach target groups and handle data in order to provide products and services to consumers.

Many of our clients conduct their business through e-commerce, and thus, in this article we have chosen to focus on the latest changes that are awaiting e-retailers. 

Read the full article.

Pratique in general parlance is the permission granted to a ship to have dealings with a port, after quarantine or on showing a clean bill of health. In the shipping industry, it is a certificate from the port-healthauthorities that the ship is without infectious diseases or plague on board and therefore, should be permitted to enter port and to allow people to board or disembark. Such permission is usually under the authority of medical/ health officers situated around the port of entry in apprehension of ships from other territories carrying contagious diseases on board among crew members or passengers.

However, if the ship is carrying any serious infectious illness on board or has arrived from a place where such illness is known to be widespread, then the ship may have quarantine restrictions imposed upon her and may not get the clean bill of health for entry to the port for carrying out intended operations.

Read the full article.

The ABL Young Lawyer’s Group has published its 6th Report on ‘Anti-Money Laundering Regulations”. The Report provides a brief overview of the key issues firms will need to be aware of in order to comply with the regulations in each country mentioned in this Report.

The ABL Young Lawyer’s Group has published its 5th Report on ‘Data Privacy”. The Report draws attention upon the distinctive trait of the Privacy legislation in each country mentioned in this Report.

Many growth companies are operated as C corporations, and frequently that's a sensible thing to do.

The familiar shareholder/board/management structure of a corporation can be more comfortable for the participants than the more amorphous and flexible LLC structure; the shareholders are not bothered with K-1s and pass-through tax outcomes (the absence of which is an essential requirement for some types of institutional investors); and, because its tax incidences do not flow through to its equity owners, the C corporation's financial details need not be disclosed to them to the same degree and with the same frequency as those of an LLC or S corporation.

However, there is a major drawback to C corporation ownership that sometimes is not discovered until it's too late to fix. Read the full article.