Regions

Breaking News: Province Announces Increase in Property Transfer Tax Payable by Foreign Entities

Earlier today, the British Columbia government announced that the property transfer tax rate payable by foreign entities on purchases of residential property in the Greater Vancouver Regional District will increase to 15%. This increase in PTT payable will come into effect on Tuesday, August 2, 2016, and will be payable regardless of when the purchase agreement for the property was entered into. The additional tax applies on a foreign entity’s proportionate share of any applicable residential property transfer, even in certain circumstances when the transaction may normally be exempt from property transfer tax. 

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NLRB Requires Specific Waivers During Bargaining – Employment Law This Week

Featured on the new episode of Employment Law This Week: Employers must have specific waivers to make unilateral policy changes when bargaining with a union.

That’s according to the NLRB, which once again clarified its “clear and unmistakable” waiver standard to restrict employers’ midterm changes. In this case, an employer relied on a broad management rights clause in its contract with the union to make unilateral changes to specific policies. The NLRB found that the union had not waived its right to bargain over those changes because the contract did not refer to the policies with sufficient clarity.

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Supreme Court Unwilling to Reject Canada Labour Code’s Unjust Dismissal Scheme

The Supreme Court of Canada recently released its decision Wilson v. Atomic Energy of Canada Ltd. 2016 SCC29.  This case involved the question of whether an  federally regulated employer could terminate the employment of a non-unionized employee without just cause.

In this case, the appellant Joseph Wilson worked for Atomic Energy of Canada Ltd. (“AECL”) for 4½ years until he was dismissed in November of 2009.  He had a clean disciplinary record.  Wilson filed an unjust dismissal complaint under the Canada Labour Code (the “Code”) claiming that his dismissal was in reprisal for having filed a complaint of improper procurement practices on the part of AECL.  AECL said Wilson was terminated on a non-cause basis and was provided with a generous dismissal package. 

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Decoding the Arbitration Amendment

The Arbitration and Conciliation (Amendment) Act of 2015 seems to be an optimistic leap towards making India an investor friendly state.

InfrastructureToday-Decoding Arbitration-July 2016

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Liberalizations in the FDI Policy – Unshackling the Manufacturing Sector

  1. Introduction

1.1.         The Foreign Direct Investment (“FDI”) policy has been in a state of flux since last year, with sweeping changes being brought in with respect to FDI vis-à-vis various sectors. One such sector has been the ‘manufacturing sector’ which was defined and elaborated upon in the FDI policy, vide Press Note No. 12 of 2015 (dated November 24, 2015), last year (“Press Note 2015”).  

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Grant of a lease: What to think about when negotiating Heads of Terms (HoTs)

A good HoTs will answer all key questions which may arise on the grant of a lease, so that negotiation on commercial issues isn’t required further down the line, saving both time and money in the long run.  It is crucial for prospective tenants to think long and hard before entering into negotiations on lease terms.  Some important questions include:

  • Term:  How long will the property continue to meet the business needs of the tenant?  A small, fast growing company may outgrow a property in its first few years.  It is important that the term of the lease is right and provides a sufficient break clause for the tenant, while maintaining the right balance against the costs of relocation and commercial upheaval.

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Insol Europe: Country Reports Summer 2016

Italy: New Provisions for Banks in Difficulties

On 3 May 2016, the Decree Law no. 59/2016 containing “Urgent measures on enforcement and bankruptcy proceedings, in favor of investors in banks in liquidation” was published in the Official Gazette.

The Decree Law no 59/2016 is intended to reduce the duration of the insolvency proceedings and to speed up the payment of creditors.

DOC200716-003

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Estate planning with an international element

What type of Will do I need if I have foreign assets?

If you own foreign assets, then you should consider putting in place a foreign Will in the jurisdictions in which you own those assets, in addition to a UK Will.  The advantage of this is that on your death, probate can be obtained more easily in each country if you have separate Wills to cover your assets in each jurisdiction.  This could be an advantage, especially if your executors would like to use your foreign assets to pay any UK Inheritance Tax, as obtaining probate in a foreign jurisdiction first would enable your executors to have access to those foreign assets.

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Chambers Global 2016 ranks Fladgate partners

Fladgate congratulates the following partners on their inclusion as “Leaders in their Field” in the 2016 edition of Chambers Global, the guide to the world’s best lawyers. Individuals are ranked after extensive research by the Chambers team with opinions sought from clients, peers, referees and competitors.

Germany
Corporate/M&A (Experts Based Abroad)
Alex Kaufmann

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Fladgate strengthens real estate practice with partner appointment

Fladgate LLP is delighted to announce the appointment of real estate specialist Jenny Sargeant who joins from Macfarlanes LLP.

Jenny advises a full range of real estate, corporate and high net worth clients on all aspects of commercial real estate transactions, specialising in acquisitions, bespoke financings and complex corporate transactions involving real estate. Her two areas of particular expertise are in the hotels sector and providing specialist advice to both lenders and borrowers in complex real estate finance transactions.

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