Commercial markets in the UAE are still feeling the shock of the global economic recession, forcing many companies to undergo restructuring to ensure better efficiency and productivity. Yet, many of them are not aware of the legal intricacies and practical complexities surrounding a corporate restructuring.
 Continue reading “A guide to corporate restructuring in the UAE”

Since the Conveyancing and Feudal Reform (Scotland) Act 1970 (the 1970 Act) came into force, the only lawful means of creating a fixed security over land and buildings situated in Scotland is by way of a standard security. In addition to creating this form of security, the 1970 Act provides for the imposition of various typical conditions attaching to a standard security. To the extent that the 1970 Act allows, these conditions are frequently varied by creditors creating additional requirements to be complied with by the debtor. The remedies available to a creditor where a debtor fails to repay the debt secured by a standard security, and the procedures that require to be followed to exercise those remedies, are also contained within the 1970 Act. 
 Continue reading “Enforcement of standard securities”

In this digital age of social media and 24/7 rolling news, the need for a company to manage and maintain a positive image has never been more important. Today’s increasingly competitive commercial landscape can make correctly managing a reputation vital to commercial success. However, getting it right can be a tough challenge. Managing the reputation of a brand is difficult enough, but what happens when a company decides to associate their brand with another? 
 Continue reading “A brand marriage made in heaven? Reputational risks in corporate partnerships”

The legal concept of privilege underpins much of the daily interaction between lawyers and clients because it allows a client uninhibited access to a lawyer’s professional advice, free from concern that confidential communications will be disclosed in any subsequent litigation. This article focuses on three recent cases that have provided clarification on the scope of both legal professional privilege and the smaller sub-set of joint privilege. This article concludes with observations on practical issues arising from the cases and suggests ways in which businesses should structure their communications to ensure that they maximise their ability to claim privilege. Continue reading “Privilege: recent case law provides guidance on scope”

Every organisation has its share of naysayers. Far from detracting from the business, these individuals can play an integral part in keeping a company on course, realistic and focused on squeezing value from resources. The field of intellectual property (IP) is no stranger to naysayers – IP counsel are often quick to naysay the feasibility of measuring the value of IP in a meaningful manner. Indeed, many assume that a meaningful set of IP legal benchmarks can only be achieved through an exorbitantly expensive and time-intensive exercise. While it’s no doubt true that any company can expend enormous resources attempting to come up with legal benchmarks, IP can be and often is measured meaningfully by companies without huge expenditure. This article briefly summarises various approaches some companies use in creating legal benchmarks to measure IP. Whether a company chooses to engage in the process at the outset is a separate question, but there’s no question that it can be done, and done well and within reasonable constraints, should a company so desire. As a starting place, when we refer to IP, we generally mean patents, trade marks (registered and unregistered), designs, copyright, and trade secrets or confidential information/know-how. As questions from senior management usually stem from costs or issues surrounding patents and innovation, this is the focus of the particular benchmarks discussed in this article. Continue reading “Assessing the effectiveness of IP strategy”

Business interruption insurance is often a key component of a company’s business continuity plan. The insurance is designed to compensate an insured for the financial effect of the interruption or interference to that business as a result of physical damage to an insured property or other key external events, such as damage at a supplier’s or customer’s premises. The intention is to restore the business to the same financial position as if the loss had not occurred, subject always to the terms and conditions of the policy. 
 Continue reading “Business interruption insurance: importance of understanding cover”

A recent Supreme Court judgment in Holland v Revenue and Customs (HMRC) [2010] has considered the status of de facto directors and, on a 3-2 split decision, limited the applicability of the concept. The decision is controversial because it will provide a defence in certain circumstances for persons controlling companies who are not officially directors of them against claims by liquidators and other parties interested in the winding up of those companies.
 Continue reading “De facto directors: Holland v Revenue and Customs & anor [2010]”

The Special Economic Zones Act (SEZA) 2005 was enacted with the underlying objective to boost economic activity, promote exports and investment from domestic and foreign sources, create employment opportunities and develop infrastructural activities. Keeping such objectives in mind, various fiscal incentives were provided to the special economic zones (SEZs) under the Income Tax Act (ITA) 1961. Continue reading “Impact of direct tax code on special economic zones”

December 2010 was an incredibly eventful month for UK immigration practitioners, with further information published concerning the mechanisms of the permanent annual immigration limits (due to be implemented in April 2011), a judicial decision rendering the interim limits introduced by the coalition government as unlawful and the almost immediate removal of one of the UK immigration regime’s best known, and highly used, economic migration routes into the UK, Tier 1 (General).
 Continue reading “2011: a year of change for the UK immigration landscape”

In a speech on 13 December, Financial Services Authority (FSA) chief executive Hector Sants outlined what firms can expect of the supervisory approach under the new regulatory structure following the abolition of the FSA in 2012. Sants attributed the financial crisis ‘first and foremost to massive misjudgements’ made by key financial institutions, before going on to accept that regulators (chiefly, one would assume, the FSA) also ‘share the responsibility for failing to limit the impact of these misjudgements’. In answer to these failings, Sants outlined the improvements that are needed to be made to the firm-specific rules and regulators’ supervisory practices.
 Continue reading “FSA CEO outlines new regulatory approach”

At the start of 2011, with environmental and energy issues high on the political agenda, this article highlights some of the key developments that can be expected by businesses and in-house lawyers in these fields this year. 
 Continue reading “Hot topics for 2011: environment and energy key changes”

Not least due to the financial crisis, the situation surrounding the public budget in central and eastern Europe (CEE) and southeastern Europe (SEE) countries is fraught with complications. Nonetheless, governments (including the states, provinces and municipalities) in the EU will invest a barely credible €2.5trn (ie €2,500bn) in various government contracts in 2011 – purchasing goods and services ranging from engineering services to copying paper to the construction of power plants. In the CEE/SEE region alone, the value of government contracts in 2011 will amount to some hundreds of billions of euros. However, studies have shown that ensuring compliance with existing EU public procurement law would result in savings of dozens of billions of euros every year.
 Continue reading “Saving billions of euros in public procurement”