Articles

Midnight Arbitration Clause v. 8:00 a.m. Clause

In the past, contractual dispute resolution provisions were commonly known as ‘midnight’ clauses because commercial lawyers only come to discuss them in the closing stages of contract negotiations. Nowadays, taking into account the complications which may arise from badly drafted arbitration clause, they are better referred to as the 8 o’clock in the morning clauses.

This article covers some of the main points which the parties need to consider when drafting an arbitration clause at a main contract stage or in a separate document (‘arbitration agreement’ or ‘compromis’) whereby the parties consent to submit their dispute that has already arisen to arbitration – which in practice is almost impossible to happen after the relations break down.

 

Seat is Not the Centre of Gravity - Arbitration and Conciliation Act, 1996

The term “subject matter of arbitration” cannot be confused with “subject matter of suit”. The term “subject matter” in Section 2(1) (e) of the Indian Arbitration Act is confined to Part-I of the Arbitration and Conciliation Act.

Its purpose is to identify the courts having supervisory control over the arbitration proceedings. Hence, it refers to a court which would essentially be a court of the seat of the arbitration process. 

Incentives for Immigration

All countries encourage foreign investment, as international markets are an essential source of growth and globalization characterized by developing market integration. This has highlighted foreign investment as a domestic growth factor and helps to diversify the investment risk for national companies. Immigration policy, traditionally focused on the labor market situation, now takes into account the specific situation of the domestic labor market as well as its contribution to the economic growth of the country.

In order to attract foreign investment, many countries encourage immigration by granting residency permits to foreign nationals that culminate in citizenship in return for their investment. Those seeking to invest in a country and who wish to obtain a residency permit have several essential questions to consider.

Three Things You Need to Know in Law Right Now

Mark Ruddy and Elizabeth Cannon of the Ruddy Law Office, PLLC contributed an article to the HFMWeek US East Coast 2015 Special Report entitled “Three Things You Need to Know in Law Right Now.” 

The article highlights the three most relevant legal issues affecting hedge funds today. These issues include the Second Circuit’s decision in United States v. Newman and its affect on insider trading cases, recent data that indicates that cyber attacks are becoming far more common and pervasive, and the SEC’s proposal of new rules designed to gather and publish certain information held by investment advisers regarding their separately managed accounts.

Read the article in its entirety.

DIFC Employment Law

The Dubai International Financial Centre (the DIFC) was established as a dedicated “free zone” area in the heart of Dubai’s commercial district by the Dubai Government essentially to meet the requirements and necessities of the financial services industry with its own separate legislative regime based upon the common law principles and enforced by a court system within the Centre’s premises.

The DIFC was established in 2004 with its own distinguishing features related to the civil and commercial laws which seek to adhere to international standards.  DIFC Employment Law No. 4 of 2005 (“DIFC Employment Law”) sets out all of the obligations and requirements on employers and employees operating within the DIFC.  An overview...

Is A Will Worth It?

A Will is often low on an individual’s list of priorities. Life is so hectic and discussing what should happen to your assets after you die is the last thing you may feel like doing. And when you do decide it is time to put in place a Will, it may be tempting to shop around to get the cheapest deal, or even to prepare a DIY Will.

There is no doubt that a professionally drafted Will may be more expensive, but by instructing a specialist solicitor (ideally a STEP member who has particular expertise and the necessary qualifications in Will drafting), you can rest assured that your assets will be dealt with as you wish on death and there will be no hidden surprises!

IP Protection and Food Plating

"What is worth copying is prima facie worth protecting- Petersen J.2 "

There was a time when the term cooking was considered to be generally restricted to the kitchen of a house. However in today’s scenario, the growing restaurant industry, food blogs, mobile applications, food channels, programs, competitions (like Master Chef) etc, have given a new dimension to the cuisine/food industry.

Leaving Property in Another Country

Being able to leave your property to whoever you wish is regarded as an essential freedom in the UK. Not necessarily so elsewhere.

However, a new EU Succession Regulation, which takes effect on 17th August 2015, offers unprecedented estate planning opportunities for UK investors who own real estate in other EU countries.

4G is Finally Coming to Turkey... or Not?

Information Technologies and Communication Authority initially announced that it would hold 4G tender on 26 May 2015. 

New Rules for Independent Audits

Read more on the impact of the new Turkish Audit Rules on Turkish companies, which shall now have their audits carried out by independent auditors.