The amendments of the Response Act are temporary and will apply for six months until September 23, 2020. However, subject to economic and health developments, the provisions may be expanded in both their application and scope
A SUMMARY OF MAJOR DEVELOPMENTS IN KEY AREAS GENERAL COUNSEL UPDATE 27 February 2014 LEGAL GUIDE EDITION 37
SHAREHOLDERS ARBITRATION
In a historic USD 50 billion award rendered on July 18,
2014, an Arbitral Tribunal constituted pursuant to the
Energy Charter Treaty held unanimously that the Russian
Federation breached its international obligations under the
Energy Charter Treaty by destroying Yukos Oil Company
and appropriating its assets.
The Tribunal, applying the UNCITRAL Arbitration Rules and sitting in The
ague under the auspices of the Permanent Court of Arbitration ordered the
Tax authorities have perceived recently that international corporate groups are going through internal business restructurings in large part or in whole to achieve income tax savings.
ICELAND INTRODUCES A PLAN TO LIFT CAPITAL CONTROLS
In a move that creditors have been waiting patiently forsince 2008, the Icelandic government has finally taken a step towards the lifting of capital controls which were imposed in Iceland after the financial crisis that will impact the main three failed banks;Kaupthing, Landsbanki and Glitnir.
Year in Review – Hong Kong Law in 2016
We have previously reported that the Official Receiver retains its entitlement to ad valorem fees on the conversion of a compulsory liquidation to a creditors’ voluntary winding-up (CVL).
DID YOU KNOW...that interim fees incurred by provisional liquidators (including agents’ fees), previously thought to have been payable from the funds of an insolvent estate without formal taxation, are now required to be taxed.
Welcome to the fifth edition of Baker & McKenzie's quarterly Asia Pacific Financial Services & Regulatory Newsletter.
The Goods and Services Tax (GST) Council during its 39th meeting, held on 14 March 2020, decided that a special procedure should be prescribed for corporate debtors undergoing the corporate insolvency resolution process (CIRP) under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC), in order to enable such entities to comply with the provisions of the GST laws.