Litigation: Enforcement of Foreign Judgments in IrelandMatheson Law Firm
Partner Julie Murphy-O'Connor and Senior Associate Gearóid Carey of the Commercial Litigation and Dispute Resolution Department co-author an article for Lexology Navigator - Litigation: Enforcement of Foreign Judgments in Ireland.
Developments In The New Swiss Codes Of Civil And Criminal Procedure Affecting...Yves Klein
This presentation made at the ICC-FraudNet meeting in Calgary on 1 October 2010 concerns a description of the new tools available for the recovery of fraud proceeds since the entry into force on 1 January 2011 of the Swiss codes of criminal procedure and of civil procedure.
This document provides an overview of leasing in France, including:
1. Leasing is seen as part of the banking system in France and offers advantages to lessees like practical benefits.
2. Cross-border leasing operations are not tightly controlled by exchange rules, and France allows opportunities for double ownership transactions with countries where economic ownership prevails.
3. French tax law provides certain benefits for domestic and cross-border leasing transactions, including incentives for green businesses.
Mr Paulo Fohlin is an experienced international arbitrator and counsel based in Sweden specializing in international arbitration, investment treaty disputes, and litigation. He has over 30 years of experience advising clients in commercial and investment disputes across various industries. He is a partner at the international law firm Magnusson and has experience working on cases administered by numerous arbitration institutions involving parties from Europe, Asia, Africa, and the Americas.
1) A railway company founded in Tsarist Russia built a railway line that crossed into Lithuanian territory following World War I.
2) An Estonian company claimed in 1923 to be the successor of the Russian company and sought compensation from Lithuania for seizing part of the railway.
3) Lithuania objected that the Estonian company did not exist at the time of the taking and that local remedies had not been exhausted. The Permanent Court of International Justice upheld Lithuania's objection of non-exhaustion of local remedies.
The Anglo-Norwegian Fisheries Case centered around a dispute between the UK and Norway over fishing rights in waters surrounding Norway. Norway claimed exclusive fishing rights based on its system of baselines, while the UK argued this violated international law. The ICJ ultimately ruled in Norway's favor, finding that Norway's baselines and claims of exclusive fishing rights were consistent with international law. Some judges dissented from parts of the ruling. The case established that a state can gain customary fishing rights through long practice accepted by other states.
This document provides guidance on finding various types of public international law resources such as treaties, case law, UN materials, and customary law. It discusses tools for locating multilateral treaties from the 1920s onward, including subscription databases and free websites. For treaty status information, it recommends the United Nations website and the Multilateral Treaties Deposited with the Secretary-General database. International law reports, cases from international courts, and UN publications are also outlined. Encyclopedias, journals, news sources, and other reference materials are highlighted to aid research.
Litigation: Enforcement of Foreign Judgments in IrelandMatheson Law Firm
Partner Julie Murphy-O'Connor and Senior Associate Gearóid Carey of the Commercial Litigation and Dispute Resolution Department co-author an article for Lexology Navigator - Litigation: Enforcement of Foreign Judgments in Ireland.
Developments In The New Swiss Codes Of Civil And Criminal Procedure Affecting...Yves Klein
This presentation made at the ICC-FraudNet meeting in Calgary on 1 October 2010 concerns a description of the new tools available for the recovery of fraud proceeds since the entry into force on 1 January 2011 of the Swiss codes of criminal procedure and of civil procedure.
This document provides an overview of leasing in France, including:
1. Leasing is seen as part of the banking system in France and offers advantages to lessees like practical benefits.
2. Cross-border leasing operations are not tightly controlled by exchange rules, and France allows opportunities for double ownership transactions with countries where economic ownership prevails.
3. French tax law provides certain benefits for domestic and cross-border leasing transactions, including incentives for green businesses.
Mr Paulo Fohlin is an experienced international arbitrator and counsel based in Sweden specializing in international arbitration, investment treaty disputes, and litigation. He has over 30 years of experience advising clients in commercial and investment disputes across various industries. He is a partner at the international law firm Magnusson and has experience working on cases administered by numerous arbitration institutions involving parties from Europe, Asia, Africa, and the Americas.
1) A railway company founded in Tsarist Russia built a railway line that crossed into Lithuanian territory following World War I.
2) An Estonian company claimed in 1923 to be the successor of the Russian company and sought compensation from Lithuania for seizing part of the railway.
3) Lithuania objected that the Estonian company did not exist at the time of the taking and that local remedies had not been exhausted. The Permanent Court of International Justice upheld Lithuania's objection of non-exhaustion of local remedies.
The Anglo-Norwegian Fisheries Case centered around a dispute between the UK and Norway over fishing rights in waters surrounding Norway. Norway claimed exclusive fishing rights based on its system of baselines, while the UK argued this violated international law. The ICJ ultimately ruled in Norway's favor, finding that Norway's baselines and claims of exclusive fishing rights were consistent with international law. Some judges dissented from parts of the ruling. The case established that a state can gain customary fishing rights through long practice accepted by other states.
This document provides guidance on finding various types of public international law resources such as treaties, case law, UN materials, and customary law. It discusses tools for locating multilateral treaties from the 1920s onward, including subscription databases and free websites. For treaty status information, it recommends the United Nations website and the Multilateral Treaties Deposited with the Secretary-General database. International law reports, cases from international courts, and UN publications are also outlined. Encyclopedias, journals, news sources, and other reference materials are highlighted to aid research.
Pengantar Hukum Internasional - North Sea Continental Shelf CaseMariske Myeke Tampi
The North Sea Continental Shelf case involved a dispute between Germany, Denmark, and the Netherlands over the delimitation of their continental shelf boundaries in the North Sea. The key issues were whether the equidistance principle in Article 6 of the 1958 Continental Shelf Convention should be applied to determine the boundaries, and whether the International Court of Justice had jurisdiction based on the consent of the states involved. The Court ultimately applied the equidistance principle and asserted its jurisdiction based on the consent of Germany, Denmark, and the Netherlands.
Greece Real Estate acquisition Visa informationMarcel Cremer
Greece has introduced a new residence permit for real estate owners, designed for non-EU citizens who want to invest in Greek real estate. To qualify, applicants must either purchase real estate worth at least €250,000, or sign a 10-year lease for hotel or tourist accommodations costing €250,000. Family members can also obtain permits. Permit holders can travel freely within Europe's Schengen area for up to 3 months at a time and can renew their permits indefinitely if they maintain property ownership. They also have access to public education and must carry health insurance.
The International Court of Justice will hold public hearings from May 4-8, 2015 concerning Chile's preliminary objection to the court's jurisdiction in a case brought by Bolivia. Bolivia filed the case in 2013 regarding Chile's alleged obligation to negotiate Bolivia's sovereign access to the Pacific Ocean. The hearings will address Chile's argument that a 1904 treaty settling borders precludes the court's jurisdiction. Representatives from Bolivia and Chile will present oral arguments during the first and second round of hearings.
This document provides an overview of topics covered in Lecture 2 of an international trade law course. The lecture discusses the World Trade Organization's Dispute Settlement Understanding and how it improved on the previous GATT system for resolving trade disputes. It describes the key principles and processes of the WTO dispute settlement system, including consultations, panel procedures, appeals, adoption of reports, implementation of rulings, and consequences for non-compliance. The lecture also examines some of the main provisions in the Dispute Settlement Understanding.
This document summarizes a lecture on international trade law. It discusses key topics covered in Lecture 4, including whether duties are still important, Article XXIV of GATT, customs unions and free trade agreements, and regional trade agreements and preferential trade agreements. It provides context on these topics and examines the relationship between regionalism and multilateralism in international trade. Examples are given of different types of trade agreements and statistics are presented on the prevalence and effects of regional trade agreements around the world.
Classification of cause of action / characterisationcarolineelias239
it is the second element in private international law to decide a case having foreign element, after assuming jurisdiction by a court. It is essential to categorize facts of a case & to find out which part of law to be applied - whether tort / contract/ succession/ marital issues etc. Then only a case can be decided.
1) The Paquete Habana case established that customary international law exempts commercial fishing vessels from being captured as prizes of war. The US Supreme Court examined state practice, repetition over time, and opinio juris to determine this was a customary rule.
2) The North Sea Continental Shelf cases set a dual requirement for customary international law - widespread representative participation and uniform practice, demonstrating general recognition of a legal obligation. While duration is not strictly necessary, generality and consistency are required.
3) The ICJ ruled the equidistance method for delimiting continental shelf boundaries had not met the requirements to be considered customary international law binding on Germany, Denmark, and the Netherlands in this dispute.
The document discusses the UNCITRAL Transparency Rules and Transparency Convention, which aim to increase transparency in investor-state arbitration. The Rules and Convention establish procedures for publishing notices, documents, and hearings. They allow third parties and non-disputing states to make submissions. However, the Rules only apply automatically to cases under the UNCITRAL Arbitration Rules or involving post-2014 treaties; other cases require party consent. While transparency furthers treaty interpretation and reasoning quality, there is uncertainty around implementation and whether it impedes arbitration efficacy.
Australian homes purchased by foreign investors over the past 10 years will be randomly audited by the Australian Taxation Office (ATO) as part of the crackdown on foreign investment.
1) The document discusses international intellectual property laws, including developments in trademark, copyright, and patent law.
2) It describes several international agreements and treaties that help standardize IP protections across countries, such as the Madrid Protocol, European Community Trademark, Berne Convention, WIPO Treaties, and TRIPS agreement.
3) Key international organizations that help administer IP law globally are also summarized, including WIPO, INTA, and relations between the US and foreign nations on IP standards.
PARITET Guide to doing business in Ukraine 2011 for NUCC Natasha Rublyova
This document provides a summary of doing business in Ukraine in 2011. It outlines the main forms for establishing a business presence as a limited liability company or representative office. It also discusses options for project finance through equity, debt, services agreements or mark-up finance. The new tax code is explained, lowering corporate tax rates annually through 2014. Employment visa requirements and real estate/land ownership rules are briefly covered. International trade challenges relating to contract security and currency regulation are noted. Specific industries are mentioned but not detailed. Contact information is provided for the Paritet law firm.
This document provides an overview of Switzerland's Federal Code on Private International Law (CPIL) from 1987. It contains 12 chapters that establish provisions for jurisdiction, applicable law, recognition of foreign decisions, and other international legal matters. The CPIL aims to govern international legal issues and determine the appropriate Swiss or foreign law to apply in cross-border cases. It includes sections on natural persons, family law, inheritance, contracts, torts, and other areas of law with an international aspect.
The document discusses several key issues related to corporations in conflict of laws:
1. A corporation is a legal entity distinct from its owners or shareholders, and is domiciled in the country where it is incorporated. However, a corporation can have more than one residence based on where its central management is located.
2. When determining liability between a parent and subsidiary corporation, the law of the place where the subsidiary is incorporated typically applies.
3. A corporation's internal affairs like management and decision making are generally governed by the law of its place of incorporation, but another country's law may apply if obligations or rights are being asserted in that other country.
This document is a judgment from the High Court of Justice of England and Wales regarding a claim brought by PJSC Commercial Bank PrivatBank against eight defendants for approximately US$1.91 billion plus interest for an alleged fraud scheme. The judgment addresses issues including whether the bank has established a good arguable case against the defendants; jurisdiction over certain defendants; potential stays of proceedings due to related litigation in Ukraine; and forum non conveniens regarding some defendants. It provides background on the parties, the bank's claims, and the various applications before the court.
This document is a judgment from the High Court of Justice of England and Wales regarding a claim brought by PJSC Commercial Bank PrivatBank against eight defendants for approximately US$1.91 billion plus interest for an alleged fraud scheme. The judgment addresses issues including whether the bank has established a good arguable case against the defendants, questions of jurisdiction over the various defendants, and whether proceedings should be stayed in favor of related litigation in Ukraine.
Ref focus crypto assets & litigation feb22Mathieu58
The document summarizes two recent French court decisions that impact the cryptocurrency market. The first decision found that access to justice is a principle of international public policy that can invalidate arbitration clauses. This could allow small investors to challenge arbitration requirements in crypto exchange terms. The second decision found that French courts had jurisdiction over a dispute between a French investor and a Lithuanian crypto exchange, based on consumer protection laws. The document also discusses potential liability of crypto exchanges if transactions occur during bankruptcy proceedings.
This document discusses options for enforcing an international arbitral award in a country that has not ratified the New York Convention. It uses the example of enforcing an award in Seychelles. While Seychelles has not ratified the Convention, its commercial code incorporates the Convention's principles on a reciprocal basis. The document argues this allows enforcement of awards from countries like France that are Convention signatories. Alternatively, enforcement could rely on principles of fulfilling contractual obligations to arbitrate or common law precedents from other jurisdictions. The document examines case law and legislation from Seychelles, France, and England to support these positions.
Review of the latest cases regarding jurisdiction in online disputes and intermediary liability, given at the IBC International Copyright Conference on 10 December 2014
Pavel Novotny. Prague Czech Republic Endlessly Attractive Place for your Busi...Awara Direct Search
1. The document provides an overview of doing business in the Czech Republic for Russian investors and companies. It discusses the legal framework, including a recent revolution in Czech law with new civil and corporate codes.
2. It examines the types of business entities commonly used in the Czech Republic, including joint-stock companies and limited liability companies. It outlines the requirements for founding and governing such entities.
3. The document also addresses property law concerning the acquisition of real estate and leases. It notes there are no restrictions on foreign ownership of real estate. Administrative requirements for foreign companies and individuals doing business in the Czech Republic are also summarized.
Presentation delivered during the 8th edition of the International conference on tax law, at the Université Laval, Québec (convenor, Professor André Lareau.
As keynote speaker of the event, I discussed the recent development in the field of Taxpayers' Fundamental Rights protection comparing the European situation with the Canadian one.
This document discusses the renvoi doctrine in South African private international law. It begins with an overview of the conception and evolution of renvoi in South Africa, noting that it originated from English law rather than Roman-Dutch law. It then examines the modern form of renvoi in South Africa, including its limited scope and doctrinal usage. It analyzes the approaches to applying renvoi, particularly the partial renvoi approach. Finally, it discusses some practical challenges with applying renvoi and compares its application in other jurisdictions.
We warmly welcome you to our ''lunch seιninar" to discuss in practice the current updates οη International Tax Planning, οn the use of Trusts and the legal framework for Cyprus investments to private clients, following recent domestic
and international changes.
Significant global changes are impacting tax planning and asset protection ίη new and challenging ways. Our leading experts from Taxatelier and Phoebus, Christos Clerides & Associates LLC will provide an opportunity to discuss such topics, drawing from experiences and international case studies.
The main topics to be discussed in the seminar are as follows:
Current updates οη International tax;
Effects οη Tax Planning;
The current status of the use of Trusts; and
The Legal framework for Cyprus investments.
Pengantar Hukum Internasional - North Sea Continental Shelf CaseMariske Myeke Tampi
The North Sea Continental Shelf case involved a dispute between Germany, Denmark, and the Netherlands over the delimitation of their continental shelf boundaries in the North Sea. The key issues were whether the equidistance principle in Article 6 of the 1958 Continental Shelf Convention should be applied to determine the boundaries, and whether the International Court of Justice had jurisdiction based on the consent of the states involved. The Court ultimately applied the equidistance principle and asserted its jurisdiction based on the consent of Germany, Denmark, and the Netherlands.
Greece Real Estate acquisition Visa informationMarcel Cremer
Greece has introduced a new residence permit for real estate owners, designed for non-EU citizens who want to invest in Greek real estate. To qualify, applicants must either purchase real estate worth at least €250,000, or sign a 10-year lease for hotel or tourist accommodations costing €250,000. Family members can also obtain permits. Permit holders can travel freely within Europe's Schengen area for up to 3 months at a time and can renew their permits indefinitely if they maintain property ownership. They also have access to public education and must carry health insurance.
The International Court of Justice will hold public hearings from May 4-8, 2015 concerning Chile's preliminary objection to the court's jurisdiction in a case brought by Bolivia. Bolivia filed the case in 2013 regarding Chile's alleged obligation to negotiate Bolivia's sovereign access to the Pacific Ocean. The hearings will address Chile's argument that a 1904 treaty settling borders precludes the court's jurisdiction. Representatives from Bolivia and Chile will present oral arguments during the first and second round of hearings.
This document provides an overview of topics covered in Lecture 2 of an international trade law course. The lecture discusses the World Trade Organization's Dispute Settlement Understanding and how it improved on the previous GATT system for resolving trade disputes. It describes the key principles and processes of the WTO dispute settlement system, including consultations, panel procedures, appeals, adoption of reports, implementation of rulings, and consequences for non-compliance. The lecture also examines some of the main provisions in the Dispute Settlement Understanding.
This document summarizes a lecture on international trade law. It discusses key topics covered in Lecture 4, including whether duties are still important, Article XXIV of GATT, customs unions and free trade agreements, and regional trade agreements and preferential trade agreements. It provides context on these topics and examines the relationship between regionalism and multilateralism in international trade. Examples are given of different types of trade agreements and statistics are presented on the prevalence and effects of regional trade agreements around the world.
Classification of cause of action / characterisationcarolineelias239
it is the second element in private international law to decide a case having foreign element, after assuming jurisdiction by a court. It is essential to categorize facts of a case & to find out which part of law to be applied - whether tort / contract/ succession/ marital issues etc. Then only a case can be decided.
1) The Paquete Habana case established that customary international law exempts commercial fishing vessels from being captured as prizes of war. The US Supreme Court examined state practice, repetition over time, and opinio juris to determine this was a customary rule.
2) The North Sea Continental Shelf cases set a dual requirement for customary international law - widespread representative participation and uniform practice, demonstrating general recognition of a legal obligation. While duration is not strictly necessary, generality and consistency are required.
3) The ICJ ruled the equidistance method for delimiting continental shelf boundaries had not met the requirements to be considered customary international law binding on Germany, Denmark, and the Netherlands in this dispute.
The document discusses the UNCITRAL Transparency Rules and Transparency Convention, which aim to increase transparency in investor-state arbitration. The Rules and Convention establish procedures for publishing notices, documents, and hearings. They allow third parties and non-disputing states to make submissions. However, the Rules only apply automatically to cases under the UNCITRAL Arbitration Rules or involving post-2014 treaties; other cases require party consent. While transparency furthers treaty interpretation and reasoning quality, there is uncertainty around implementation and whether it impedes arbitration efficacy.
Australian homes purchased by foreign investors over the past 10 years will be randomly audited by the Australian Taxation Office (ATO) as part of the crackdown on foreign investment.
1) The document discusses international intellectual property laws, including developments in trademark, copyright, and patent law.
2) It describes several international agreements and treaties that help standardize IP protections across countries, such as the Madrid Protocol, European Community Trademark, Berne Convention, WIPO Treaties, and TRIPS agreement.
3) Key international organizations that help administer IP law globally are also summarized, including WIPO, INTA, and relations between the US and foreign nations on IP standards.
PARITET Guide to doing business in Ukraine 2011 for NUCC Natasha Rublyova
This document provides a summary of doing business in Ukraine in 2011. It outlines the main forms for establishing a business presence as a limited liability company or representative office. It also discusses options for project finance through equity, debt, services agreements or mark-up finance. The new tax code is explained, lowering corporate tax rates annually through 2014. Employment visa requirements and real estate/land ownership rules are briefly covered. International trade challenges relating to contract security and currency regulation are noted. Specific industries are mentioned but not detailed. Contact information is provided for the Paritet law firm.
This document provides an overview of Switzerland's Federal Code on Private International Law (CPIL) from 1987. It contains 12 chapters that establish provisions for jurisdiction, applicable law, recognition of foreign decisions, and other international legal matters. The CPIL aims to govern international legal issues and determine the appropriate Swiss or foreign law to apply in cross-border cases. It includes sections on natural persons, family law, inheritance, contracts, torts, and other areas of law with an international aspect.
The document discusses several key issues related to corporations in conflict of laws:
1. A corporation is a legal entity distinct from its owners or shareholders, and is domiciled in the country where it is incorporated. However, a corporation can have more than one residence based on where its central management is located.
2. When determining liability between a parent and subsidiary corporation, the law of the place where the subsidiary is incorporated typically applies.
3. A corporation's internal affairs like management and decision making are generally governed by the law of its place of incorporation, but another country's law may apply if obligations or rights are being asserted in that other country.
This document is a judgment from the High Court of Justice of England and Wales regarding a claim brought by PJSC Commercial Bank PrivatBank against eight defendants for approximately US$1.91 billion plus interest for an alleged fraud scheme. The judgment addresses issues including whether the bank has established a good arguable case against the defendants; jurisdiction over certain defendants; potential stays of proceedings due to related litigation in Ukraine; and forum non conveniens regarding some defendants. It provides background on the parties, the bank's claims, and the various applications before the court.
This document is a judgment from the High Court of Justice of England and Wales regarding a claim brought by PJSC Commercial Bank PrivatBank against eight defendants for approximately US$1.91 billion plus interest for an alleged fraud scheme. The judgment addresses issues including whether the bank has established a good arguable case against the defendants, questions of jurisdiction over the various defendants, and whether proceedings should be stayed in favor of related litigation in Ukraine.
Ref focus crypto assets & litigation feb22Mathieu58
The document summarizes two recent French court decisions that impact the cryptocurrency market. The first decision found that access to justice is a principle of international public policy that can invalidate arbitration clauses. This could allow small investors to challenge arbitration requirements in crypto exchange terms. The second decision found that French courts had jurisdiction over a dispute between a French investor and a Lithuanian crypto exchange, based on consumer protection laws. The document also discusses potential liability of crypto exchanges if transactions occur during bankruptcy proceedings.
This document discusses options for enforcing an international arbitral award in a country that has not ratified the New York Convention. It uses the example of enforcing an award in Seychelles. While Seychelles has not ratified the Convention, its commercial code incorporates the Convention's principles on a reciprocal basis. The document argues this allows enforcement of awards from countries like France that are Convention signatories. Alternatively, enforcement could rely on principles of fulfilling contractual obligations to arbitrate or common law precedents from other jurisdictions. The document examines case law and legislation from Seychelles, France, and England to support these positions.
Review of the latest cases regarding jurisdiction in online disputes and intermediary liability, given at the IBC International Copyright Conference on 10 December 2014
Pavel Novotny. Prague Czech Republic Endlessly Attractive Place for your Busi...Awara Direct Search
1. The document provides an overview of doing business in the Czech Republic for Russian investors and companies. It discusses the legal framework, including a recent revolution in Czech law with new civil and corporate codes.
2. It examines the types of business entities commonly used in the Czech Republic, including joint-stock companies and limited liability companies. It outlines the requirements for founding and governing such entities.
3. The document also addresses property law concerning the acquisition of real estate and leases. It notes there are no restrictions on foreign ownership of real estate. Administrative requirements for foreign companies and individuals doing business in the Czech Republic are also summarized.
Presentation delivered during the 8th edition of the International conference on tax law, at the Université Laval, Québec (convenor, Professor André Lareau.
As keynote speaker of the event, I discussed the recent development in the field of Taxpayers' Fundamental Rights protection comparing the European situation with the Canadian one.
This document discusses the renvoi doctrine in South African private international law. It begins with an overview of the conception and evolution of renvoi in South Africa, noting that it originated from English law rather than Roman-Dutch law. It then examines the modern form of renvoi in South Africa, including its limited scope and doctrinal usage. It analyzes the approaches to applying renvoi, particularly the partial renvoi approach. Finally, it discusses some practical challenges with applying renvoi and compares its application in other jurisdictions.
We warmly welcome you to our ''lunch seιninar" to discuss in practice the current updates οη International Tax Planning, οn the use of Trusts and the legal framework for Cyprus investments to private clients, following recent domestic
and international changes.
Significant global changes are impacting tax planning and asset protection ίη new and challenging ways. Our leading experts from Taxatelier and Phoebus, Christos Clerides & Associates LLC will provide an opportunity to discuss such topics, drawing from experiences and international case studies.
The main topics to be discussed in the seminar are as follows:
Current updates οη International tax;
Effects οη Tax Planning;
The current status of the use of Trusts; and
The Legal framework for Cyprus investments.
This document summarizes the West Tankers case, which involved an anti-suit injunction issued by an English court to prevent litigation in an Italian court. The ECJ ultimately ruled that such an injunction was incompatible with the Brussels I Regulation, which requires mutual trust between EU member state courts. While the English court viewed the injunction as relating to arbitration excluded from the regulation, the ECJ found it undermined the Italian court's ability to determine its own jurisdiction under the regulation. The ruling affirms that no EU court can prevent another from assessing its own jurisdiction over a dispute.
Contracts under private international law is governed by different principles and maxims. This slide gives you an idea about it and included all relevant case laws.
This overview of Cyprus Dispute Resolution Q&A gives a structured overview of the key practical issues concerning dispute resolution in this jurisdiction, including court procedures; fees and funding; interim remedies (including attachment orders); disclosure; expert evidence; appeals; class actions; enforcement; cross-border issues and the use of ADR.
The German government finalized a draft law to implement the fourth European directive on money laundering. The key element is the creation of a "Transparency Register" where businesses will disclose their legal ownership structure, including beneficial owners holding over 25% of shares. Initially, only those with a justified interest could access the register for a fee, but there are plans to make it freely accessible. Companies must notify about owners by October 2017 or face penalties up to €100,000, or €1 million/twice the economic benefit for systematic violations. The draft law will also require GmbH shareholder lists to indicate each shareholder's percentage of shares.
This document provides an overview of EU insolvency law frameworks and summarizes a presentation on international insolvency law and cases. Specifically:
1. It outlines the various EU directives and regulations that govern different aspects of cross-border insolvency proceedings, including the EU Insolvency Regulation.
2. It describes the goals of the EU Insolvency Regulation as establishing international jurisdiction, uniform conflict-of-law rules, and coordination of cross-border insolvency proceedings.
3. It summarizes key cases like Daisytek that deal with determining the center of main interests of a debtor and jurisdiction in cross-border insolvencies.
The International Comparative Legal Guide to Securitisation 2016 EditionAlessia Sciarra
The ninth edition of The International Comparative Legal Guide to Securitisation is now available.
This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of securitisation in 34 jurisdictions.
The Italian chapter is written by Andrea Pinto e Vittorio Salvadori di Wiesenhoff, leading securitisation lawyers of K&L Gates Milan.
This document summarizes business structures and legal processes in Italy. There are two main types of business structures - partnerships and capital companies. Partnerships include unlimited liability for partners while capital companies like S.r.l. and S.p.A. have limited liability. Information on companies can be found through the Italian Business Register. Judgments and financial information are available through credit reports from private agencies. Businesses contract with written contracts and invoices as evidence in courts which typically take 10-12 months for a judgment. Alternative dispute resolution includes mediation and arbitration.
Julie Murphy O'Connor and Gearoid Carey provide an overview on Enforcement of Foreign Judgments in Ireland in the 2018 edition of Getting the Deal Through.
Similar to Trust Busting in Switzerland, Yves Klein, London, 13.05.11 (20)
3. Swiss law of trusts
No Swiss law of trusts
Hundreds of trustees and
thousands of trusts in Switzerland
No regulatory framework
(except for anti‐money laundering rules)
6. OD‐Bank in Liquidation v. the Bankrupt Estate of WKR [Werner K Rey]
District Court of Zurich 30 November 1994 (ZR 1999 225 n° 52, 229)
• Qualification of a trust as an organised estate (150 PILA)
• Application of Guernsey law to the trust’s validity (159
PILA)
• Application of the Royal Court of Jersey case law in re
Abdel Rahman v. Chase Bank (CI) Trust Co Ltd, June 6
1991 [1991 JLR 103] regarding subsequent behaviour
• Trustee’s tolerance of settlor’s interference with the
trust’s affairs amounted to breach of trust and led to the
conclusion that trust was a sham under Guernsey law
• Consequently, the trust assets belonged to the settlor’s
bankrupt estate
14. Hangartner v. Port Pregny S.A.
Federal Civil Court of 31 August 1976 [ATF 102 III 165]
• Attachment by a creditor of Bernie Cornfeld of a Geneva real estate
property registered in the name of Port Pregny S.A., which shares were
allegedly held by a US trust
• Port Pregny S.A. had no independence from Cornfeld but was a mere
instrument to his service, with which he had concluded a 50 year lease
and had effected at his own costs works for several millions of Swiss
francs.
• There was a perfect economic identity between Cornfeld and Port Pregny
S.A., as he was the sole real beneficial owner and creditor of the company.
• “By withholding the shares of Port Pregny S.A. from his creditors and by
having the company intervene in the attachment proceedings to claim the
ownership of the property, Cornfeld acted fraudulently, in the manifest
goal to have a substantial asset escape from his creditors. This behaviour is
manifestly abusive in the meaning of art. 2 CC.”
• Consequently, for the sake of the attachment proceedings, Cornfeld was
declared the owner of the property.
19. Conclusion
Even though claw‐back actions and the application of
transparency theory to trusts may be used to challenge
foreign trusts under Swiss law, criminal proceedings shall
remain a tool of preference in the case of transfer of
crime proceeds to a trust.
However, changes to Swiss law since 2011, such as the
civil courts’ new powers to issue production orders lifting
banking secrecy, including in the context of execution of a
foreign request for the obtaining of evidence, and the
Lugano Swiss‐wide attachment orders, make Switzerland
an attractive jurisdiction to take steps in support of
foreign proceedings against trust assets.