IFLR Search

Review of the non-exclusive jurisdiction provision

Yau Khai Ling Nicole Ong Hwee Koon In Orchard Capital I Ltd v Ravindra Kumar Jhunjhunwala [2012] SGCA 16, the Singapore Court of Appeal propounded the important principles concerning the interpretation and the legal effects of non-exclusive jurisdiction agreements.

March 29 2012

New witholding tax proposals from the Russian Ministry of Finance

Nollaig Murphy Andrew Quinn Stephen McLoughlin

March 29 2012

Flag of the Netherlands on bank cards. National banking related 3D rendering

Taxing banks

On December 15 2011, the Dutch government released a bill to introduce a bank tax which is expected to enter into force in mid-2012. The stated objectives of the bank tax are to ensure that the banking sector contributes to the costs of stabilisation, to stimulate long-term financing and to discourage excessive bonuses for the board members of Dutch banks.

IFLR Correspondent, March 29 2012

Elpida to set a precedent

Ryuji Sakai In late February 2012, Elpida Memory, one of the key Japanese players in the DRAM integrated circuit global market, filed an application with the Tokyo District Court for commencement of corporate reorganisation proceedings (the statutory insolvency proceedings under Japanese law for use by large-scale businesses). A temporary restraining order has been granted by the court to maintain the status quo during the court's examination of the merits of Elpida's application.

March 29 2012

Malaysia’s new competition law

The coming into force of the Competition Act 2010 on January 1 2012 ushers in a comprehensive competition regime in Malaysia. This new regime is expected to herald a paradigm shift in the way business is conducted in the country. Entrenched business practices that are seen to hinder competition will now come under close the scrutiny of the Malaysian Competition Commission (MyCC).

March 29 2012

Options finally valid in India

A recent judgement by a division bench of the Bombay High Court may well be the game changer required as regards legal certainty on enforceability of options in India. The judgment itself deals with a challenge to the actions of the regulator in refusing recognition to a new stock exchange. A key aspect was the validity and impact of buy back arrangement.

March 29 2012

New rules on the Indonesian mining business

Freddy Karyadi Oene Marseille On February 21 2012, the Indonesian government issued Government Regulation No 24/2012 (GR 24) which revised Government Regulation No 23/2010 on Mining Business Activities.

March 29 2012

Regulatory changes in the financial sector

The banking industry in Central America has undergone important changes over the past five years. Well-known financial groups from North America, Canada, England and South America set their eyes on the region as an area that provided opportunities to develop banking and insurance practices. This led to significant acquisitions of financial institutions throughout the region, and in the case of El Salvador, represented the acquisition most (if not all) private banks.

March 29 2012

More reform of turnover tax system

David Liu Julie Cheng Since the implementation of its VAT regime and the supplemental turnover tax system which includes business tax in 1994, China has undergone continuous reform of these systems, which could be collectively labelled the turnover tax system.

March 29 2012

Free-standing relief through Black Swan orders

Phillip Kite Claire Robey Before 2010, freezing injunctions in the British Virgin Islands were only available ancillary to a substantive domestic cause of action against the respondent. It was not possible to seek an injunction ancillary to foreign proceedings. This was a result of a restrictive interpretation of Lord Diplock's speech in The Siskina (1979).

March 29 2012

Search results for