Monthly Archives: December 2017

Efforts to Limit State-Action Antitrust Exemption Continue

The state-action antitrust exemption grew out of the 1943 decision of Parker v. Brown, 317 U.S. 341 (1943), in which the Supreme Court explained that “nothing in the language of the Sherman Act or in its history suggests that its purpose was to restrain a state or its officers or agents from activities directed by its legislatures.”  And, relying on principles of federalism, the Supreme Court gave deference to the state as a sovereign body.

Subsequent decisions expanded the reach of state-action to state and local governmental agencies (including counties and municipalities), as well as private parties.  In California Retail Liquor Dealers Ass’n v. Midcal Aluminum, Inc., 445 U.S. 97 (1980), the Supreme Court held that the actions of state and local governmental agencies was exempt if they were undertaken pursuant to a clearly articulated state policy.  Also in Midcal, the Supreme Court ruled that private parties could take cover under this exemption if they acted pursuant to a clearly articulated state policy and were actively supervised.

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Funding the Belt and Road: The challenges of attracting private investment

After the ambition of the Beijing summit, back in May 2017, comes the reality of financing the Belt and Road initiative (BRI).  How might the risks of building and operating BRI schemes be spread and what will be the role for private investment?

Notwithstanding China’s substantial foreign currency reserves which are being made available for investment, the BRI is so vast in its ambition that China simply does not have the money to publicly fund all BRI schemes.  Furthermore, unless BRI risks are carefully spread, there could be real concerns about China’s return on investment and the ability of some countries with poor credit ratings to repay any BRI loans.

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Coty scents competition law victory for brand owners

In a much anticipated judgment, the European Court of Justice of the European Union (ECJ) has determined that EU competition law does not prevent luxury brands imposing restrictions on the use by distributors of third party e-commerce platforms. The judgment confirms the opinion expressed by the Advocate General to the court (see https://www.fladgate.com/2017/08/eu-general-court-opinion-delivers-boost-brands-selling-online/) that such restrictions can be permitted where they are necessary to preserve brand image.

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One Belt, One Road – addressing legal challenges to harness global opportunity in the rail sector

The “One Belt, One Road” (OBOR) initiative – or the “new Silk Road” as it is often referred to – is China’s grand vision for the creation of co-ordinated trade routes on both land and sea.  Spanning 65 countries, when completed it would give industry freight access to over 60% of the world’s population and create significant new opportunities for trade integration.

The “Road” part of the project is to connect shipping routes via major ports from China to Africa and Europe. The “Belt”, more ambitiously, involves the creation of a transnational railway connecting Asia, Russia and Europe, with journeys potentially taking as little as eight days from end to end.

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Top tips for tenants: Stamp Duty Land Tax (SDLT) and Value Added Tax (VAT)

Benjamin Franklin (1706-90), in a letter to Jean-Baptiste Leroy in 1789, wrote the now infamous words “In this world nothing can be said to be certain, except death and taxes”. Whilst the former (thankfully) is outside of the scope of this article, the latter (sadly) is not and should be at the forefront of a tenant’s mind when taking a lease of new premises or re-gearing an existing lease.

In this article we will be looking at some typical transactions involving tenants, the SDLT and VAT implications of each of them and some practical tips/considerations.  Before we begin, it is worth setting out a brief overview of SDLT and VAT.

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Hall & Wilcox ranked by Chambers Asia Pacific 2018

Leading independent business law firm, Hall & Wilcox is pleased to have gained further recognition by recommendations in Chambers Asia Pacific 2018 with four areas ranked. The areas include:

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Three more lawyers join RSS

December 11, 2017 — Over the past few weeks, three lawyers have been added to our team:

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RSS welcomes six new partners

December 11, 2017 — Charles E. Flam, Managing Partner of RSS, is pleased to announce that the following lawyers are now partners with the firm:

RSS is proud to provide lawyers with a stimulating environment in which they can all achieve their potential.

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KLA is recognized in The Best Lawyers in America 2018

The KLA had 17 lawyers ranked by The Best Lawyers in America © 2018 in 16 areas. Among those nominated, Paulo Prado, a member of the Public and Administrative Law area of ​​the KLA, was named “Lawyer of the Year” for his performance in Administrative Law in São Paulo.

For over 30 years, Best Lawyers has been a reference for clients in more than 70 countries, one of the most respected publications in the world.

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New sanctions regime of the Central Bank and the Securities and Exchange Commission

On November 14, 2017, Law 13,506 of November 13, 2017 was published, which provides for the sanctioning administrative process in the sphere of the Brazilian Securities and Exchange Commission (CVM) and the Central Bank of Brazil (BACEN).

Law 13,506 / 2017 is a breakdown of Provisional Measure (MP) 784/2017, which expired after being widely discussed in the National Congress this year. The final version of the project retained most of the MP’s text, with specific changes referring, for example, to the specific rules on the payment order of creditors in case of extrajudicial liquidation or bankruptcy; to the requirement that the decision in administrative sanction process in the scope of the BC be taken by a collegiate body; the prohibition of the conclusion of an undertaking in case of serious infraction; and to change the name of the leniency agreement, to be called an administrative agreement in the process of supervision.

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