Page 6 - Law Developments News Today

Introduction Although the London Interbank Offered Rate (LIBOR) is currently the most widely used interest rate benchmark and serves as a price reference for a broad range of financial instruments, the UK Financial Conduct Authority will stop supporting LIBOR at the end of 2021. According to the National Working Group (NWG) on Swiss Franc Reference Rates, the Swiss Average Rate Overnight (SARON) is the proposed replacement standard. The transition period poses several challenges for national an...

Introduction Litigation often turns out to be a drawn-out, tedious and expensive pursuit. This is particularly true in civil suits or disputes, which may last for years and often culminate in a decision which makes even the victorious party feel the brunt of the prolonged process. The 222nd Report of the Law Commission(1), among other things, acknowledged that "delay in disposal of cases in law Courts, for whatever reason it may be, has really defeated the purpose for which the people approach ...

On 20 October 2020 Law 4736/2020 concerning the reduction of the impact of certain plastic products on the environment was published in the Official Gazette (OJ A΄ 200/2020). According to Article 20 of the law, a new article (Article 4A) regarding the declaration of readiness for the connection of renewable energy source (RES) stations to the distribution network or transmission system has been added to Law 4416/2016 (OJ A΄ 149/2016). Declaration of readiness In light of the new provisions, ...

Introduction On 9 February 2021 the Maharashtra governor promulgated the Maharashtra Stamp (Amendment and Validation) Ordinance 2021 with immediate effect. The ordinance introduced two key amendments to the Maharashtra Stamp Act 1958 concerning: the stamping of documents that encompass multiple transactions; and stamp duty rates for agreements that relate to: the creation of a mortgage by deposit of title deeds; and mortgage deeds. Stamping of instruments relating to several distinct matters or...

The National Health Surveillance Agency recently published four guidelines on its prior consent procedure, which all pharmaceutical patent applications in Brazil must undergo before the Brazilian Patent and Trademark Office (BRPTO) conducts the technical examination. However, applicants should remember that the final decision on the patentability of pharmaceutical patent applications is made exclusively by the BRPTO.

Two lower court decisions have confirmed tenants right to claim a COVID-19-related rent reduction in general. However, both decisions must be read carefully and leave many questions unanswered, particularly in cases where shops made or could have made limited use of their premises during the national lockdowns by offering online delivery or click and collect services. In addition, state aid may affect rent reductions. This uncertainty has led to many mutual agreements in the market. Lockdowns ...

In the recent case of Helice Leasing SAS v PT Garuda Indonesia (Persero) Tbk ([2021] EWHC 99 (Comm)), the Commercial Court decided that the claimant, aircraft leasing company Helice, must arbitrate its claim against airline Garuda for more than $5,150,000 in unpaid lease rent under London Court of International Arbitration (LCIA) rules instead of proceeding by court action. The court upheld the parties arbitration agreement pursuant to the lease agreement terms despite conflicting references t...

Under the Employment Contracts Act, employers and employees may agree on non-compete obligations only in limited circumstances. However, in practice, the criteria are vague and non-compete obligations have been used more commonly than what was originally intended. The reform of the Employment Contracts Act aims to change this situation and ensure that employers carefully consider when to include non-compete obligations in employment contracts.

On 1 March 2021 the Supreme Court heard oral arguments in United States v Arthrex (19–1434). This case addresses whether administrative patent judges (APJs) – who preside over inter partes reviews at the United States Patent and Trademark Office (USPTO) – are unconstitutionally appointed principal officers and, if so, whether that constitutional violation can be cured by severing for cause employment protections for APJs. If the Supreme Court in Arthrex concludes that APJs are unconsti...

Introduction With the COVID-19 vaccination process underway, employers are navigating unprecedented issues within their workforce. This article explores, among other things: employers obligations when implementing mandatory vaccination programmes; issues concerning employee data that is provided as proof of vaccination or pre-vaccination screening; and defining reasonable accommodation and potential Americans with Disabilities Act (ADA) concerns.(1) Employers obligations when implementing manda...