Doing business in Paraguay

Paraguay’s political and constitutional context is a proper introduction to Paraguay’s legal and business framework. Paraguay’s current constitution came into effect only 29 years ago in 1992. Except from 2008-13, the government has been in the hands of the same political party (including the military dictatorship period from 1954 to 1989) for the last 67 years. The result is a democratic process in which there are periodic free elections, but which, in certain aspects (the judiciary and public administrations), is still a work in progress. Continue reading “Doing business in Paraguay”

Changes in the Irish business interruption insurance market

It is a time of significant change for the Irish insurance market. Business interruption insurance has, in particular, become a focal point of the challenges presented by the Covid-19 pandemic. On 5 February 2021, Justice Denis McDonald of the Irish High Court held that the pub owners were entitled to be compensated by FBD Insurance for financial losses associated with the closure of their businesses due to the Covid-19 pandemic. It is understood that the FBD decision is not being appealed. Continue reading “Changes in the Irish business interruption insurance market”

Litigation funding for claims – a growing investment market

Would you invest your own money in the outcome of someone else’s court battle? It intuitively sounds risky, but the market for litigation funding across the globe is booming. In the UK alone, the top 15 funders reportedly have almost £2bn of assets under their control, and with the growth of potentially lucrative class action cases, that figure is expected to rise further. Continue reading “Litigation funding for claims – a growing investment market”

This time, walk the talk behind the ESG bandwagon

Three letters seem to be everywhere you look these days: ESG. Law firm after law firm seems to be offering environmental, social and governance advice and even new practice teams to corporates on a daily basis. Press releases talk about helping clients ‘navigate the regulatory requirements’ and ‘lead the way’. The fastest land animal is arguably not the cheetah, but instead a lawyer jumping on the ESG bandwagon.

Continue reading “This time, walk the talk behind the ESG bandwagon”

Doing business in Argentina

The Argentine Republic is a federal republic and representative democracy, comprised of 23 provinces and the city of Buenos Aires. Argentina is the second largest economy in South America, and is part of the G20. With a mainland area covering 2,780,400 square kilometers, Argentina is known for its vast natural resources and highly diversified economy. Continue reading “Doing business in Argentina”

The rise of SESG in Latin America

Overshadowed by the pandemic, Latin America’s GDP growth results closed 2020 at nearly -8%, while global GDP growth results closed at -5%. The growth forecast for 2021 is at 4.1%, relying on the vaccination efforts across Latin America countries to combat Covid-19, as well as the many relief packages launched by the world’s biggest economies to help emerging economies. Continue reading “The rise of SESG in Latin America”

The benefits and costs of conducting an internal investigation – Is it better to let a sleeping dog lie?

One of the most difficult questions a management team sometimes faces is whether – absent a legal, regulatory or statutory duty to do so – a company should conduct an internal investigation. The answer is relatively easy in most countries if a law enforcement agency is knocking on the proverbial door, the company receives a mandatory demand for information or a press report about possible misfeasance is published. A more difficult question can be posed, however, if the compliance issue that has arisen seems unlikely to be detected. In the latter situation, at least some in company management may believe it best to let the apparently sleeping dog lie. Continue reading “The benefits and costs of conducting an internal investigation – Is it better to let a sleeping dog lie?”

Nothing is certain

The ever-changing world of data protection has lost none of its pace. Exacerbated by the almost global transition to a life online, homes became offices, Zoom became the go-to meeting place and Teams became the world’s virtual water cooler. With this increased reliance on technology to support remote working and digital communications, the need to protect corporate data and confidential information while working from home has become vitally important. Continue reading “Nothing is certain”

Insurance in South Korea

The seventh-largest country in the world by insurance premiums, the South Korean insurance industry is highly competitive. At the end of 2020, life and non-life insurance premiums reached KRW221.9trn (approximately $95.7bn), up 4.3% from 2019. The insurance regulatory framework is a two-tiered supervisory system, with the Financial Services Commission (FSC) overseeing the insurance industry by implementing laws/regulations and policies to maintain stability in the market, monitor solvency of financial institutions and administering measures for consumer protection. The Financial Supervisory Service (FSS) executes the policies and handles day-to-day supervision as the ‘executive arm’ of the FSC, conducting investigations, compliance audits and enforcement. Continue reading “Insurance in South Korea”