Malta is rapidly becoming one of the major international centres for the registration of yachts. This factor is mainly due to guidelines published by the Maltese VAT Department on the taxation of yachts which are lease-purchased to third parties by a Maltese company. For the purposes of these guidelines, a lease-purchase is seen as a situation whereby a Maltese company purchases a yacht and leases it to a third party with an option in favour of the third party to purchase the boat at a reduced price at the end of the lease.
The VAT Department in Malta has in fact established that when a Maltese company buys a pleasure yacht and lease-purchases it to third parties, then VAT is due on the lease at the normal rates of VAT in Malta (i.e. 18%) since this is a supply of a service....
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The World Finance Magazine has published the winners of its World Finance Legal Awards for the year 2012. The magazine selected Juridia as the best IPR law firm in Finland. The evaluation process highlighted the criteria of innovation and quality of product as well as market development and excellence in client representation.
The World Finance Awards were created in 2007 to identify industry leaders, individuals, teams and organisations that represent the benchmark of achievement and best practice in the financial and business world
For more information, please visit www.worldfinance.com/awards/2012-legal-awards/.
....Towards the end of 2011, TLT was appointed to assist one of China's largest car makers penetrate the UK market, starting in the SUV pick up segment. The carmaker, Great Wall Motors, has annual sales of over 400,000 vehicles across 120 countries. TLT's role focuses initially on the development and roll-out of new distribution agreements for the UK dealer network.
TLT's appointment was through leading distribution group International Motors, which is responsible for importing Great Wall vehicles into the UK.
In addition, TLT is appointed to advise Subaru UK and Isuzu UK, which are already established in the car and commercial vehicle sectors in the UK, on the roll-out of new network agreements in light of changes to EU competition rules applying to the sector (which....
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In January 2012, Tomas Kajackas joined Lithuanian member, AAA Baltic Service Company - Law Firm. Tomas specialises in public procurement and contract law covering supplier and contracting authorities consultation plus contract and procedural documents drafting.
Tomas previously worked in the Committee of National Safety and Defence of the Republic of Lithuania under the Lithuanian Parliament and held the postion of legal adviser at Litexpo - the Lithuanian exhibition and congress centre.
Tomas's versatile and long term experience will strengthen AAA's position in public procurement allowing the firm to both provide legal consultation in this area and also advise clients on how to organise and execute public tenders properly. AAA Baltic Service Company Company - Law Firm is....
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In July 2011 the Swedish law firm Lindskog Malmström moved to newly renovated and spacious facilities located at Norrmalmstorg in the centre of Stockholm. In connection with the move the law firm upgraded its corporate identity unveiling a new logo. The aim was to accentuate Lindskog Malmström as a modern law firm with a technically high developed infrastructure which invests in the future.
The new premises were officially opened in November 2011 and were marked by two very successful events. The first was attended by colleagues and other lawyers, whilst the second gave clients and co-operation partners the opportunity to mingle and take a tour of the new offices.
At the beginning of 2012, Lindskog Malmström engaged a new partner, Marie Wessel,....
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Niels Borum, partner at Danish member firm Lexsos Advokater will, for the second consecutive year participate in the biggest endurance race in the world.
More than 200 cars including factory teams, Audi, Porche, Mercedes & BMW will participate in the Allgemeiner Deutscher Automobil-Club (ADAC) 24 hour Nürburgring race between 17-20th May 2012. This year the race celebrates its 40th anniversary and will attract more than 300,000 spectators and live TV coverage.
Nürburgring is the largest race track in the world, with a track length of approximately 25km, at least 100 turns to conquer and an elevation change of 400 metres. Back in 1976, the famous Formula 1 driver Nicki Lauda named it "The Green Hell". It....
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Over the past few months, European Law Firm member firms have collaborated to produce a guide for anyone wishing to purchase real estate in another European country.
This guide is intended to be a high level introduction to the procedures and applicable rules in the 28 respective jurisdictions and covers the different preliminary contracts, transfer of ownership title, fees, taxes and mortgage procedures.
Since the law is constantly changing, European Law Firm recommends that local legal advice is sought to ensure up-to-date information. A list of contact details for all European Law Firm member firms is listed throughout the booklet.
For a copy of the guide, please click "Research" and download the PDF or contact....
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For almost all businesses today, the marketplace is now global rather than a local. This presents huge opportunities for international development. But what happens when the new customers do not pay? Are creditors forced to bring expensive proceedings in foreign jurisdictions to obtain and enforce a judgment or can they just enforce their judgment in another country?
The EU has tried to simplify the process through several different processes and regulations. This article gives a brief overview of the applicable EU rules. Each method of enforcement differs and is based on different criteria. The creditor will need to check with legal advisors which method is appropriate for enforcement of his/her particular debt.
1. Which court do I go to, to....
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The UK Bribery Act 2010 came into force on 1 July 2011 and is the most far reaching of any EU or US anti-corruption legislation. Penalties under the Act are up to ten years in prison and unlimited fines. Corporates convicted can find themselves barred from all EU Public Procurement Work.
The Act has wide extra-territorial reach and can catch organisations that are incorporated outside of the United Kingdom.
The Act applies to a "commercial organisation" which is either:
a) incorporated/formed in the UK; orb) carries on a business or part of a business in the UK.
The UK Regulator, the Serious Fraud Office, has indicated it will be looking very closely at non UK businesses to see if they are carrying on part....
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Last month, Finish member, Attorneys-at-Law Juridia Ltd successfully represented the German KSB Aktiengesellschaft - one of world's leading pump and valve manufacturers, in a dispute concerning corporate espionage and the better right to an invention.
The case was settled successfully for KSB, and the patent registered in the name of a third party was transferred to the possession and name of KSB.
....Latvian law firm KLOTINI & SERGIS is currently representing Construcciones y Auxiliar de Ferrocarriles (CAF), S.A. from Spain in the public procurement in Latvia on purchasing new rolling stock and train maintenance. CAF is one of the international market leaders in the design, manufacture, maintenance and supply of equipment and components for railway systems.
In August this year CAF was awarded the rights to enter into an agreement with Passenger Train, A.S., the only local carrier, which provides public rail transport services. With a possible total value of €610 million and duration of 30 years, this procurement qualifies as the largest tender in terms of volume with the longest performance time in the history of the country to date. The project is co-financed by the....
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In September, Andres Past Senior Partner from Concordia was invited to speak at the "Health Insurance Contract" conference, an event highlighting the choice criteria of the contracting parties to the Estonian Health Insurance Fund, as well as the legislative framework which enables and restricts it. The conference focused on the conflict between legislative framework and legitimate expectation of both past and recent partners.
Members of parliament, the Minister of Social Affairs, senior management of the Estonian Health Insurance Fund and its officials as well as heads of medical institutions were amongst the delegates.
Andres's presentation concentrated on the need to alter the procedure of entering into a medical treatment funding agreement in a manner which would....
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The publication of Lord Justice Jackson's Review of Civil Litigation Costs has sparked radical procedural reform in the Patents County Court ("PCC") aimed at addressing the problems encountered by small and medium sized enterprises ("SMEs").
First phase of reformThe first, and most significant, phase of reform took effect on 1 October 2010 when The Civil Procedure (Amendment No 2) Rules 2010 (SI 2010/1953) came into force.
Limit to costs ordersLitigants can now pursue proceedings in the PCC safe in the knowledge that, should an award for costs be made against them, their exposure is limited to £50,000, where liability is disputed, or £25,000 on an enquiry as to damages or account....
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In April this year, Norbert Mauer, a lawyer and Public Notary joined fellow Notaries Uwe Kärgel and Christian Steden at Kärgel de Maizière & Partner.
Under German law a Notary undertakes many responsibilities across a range of different areas of expertise. In real estate, any transaction relating to the purchase, registration of encumbrances etc. requires notarisation. Under corporate law, any transfer of shares of a Ltd. company, the foundation of Ltd companies and any change in the articles of association require notarisation. Finally, a Notary will draft all matrimonial contracts and wills.
In addition to his Notary services, Norbert specialises in Corporate, Real Estate and Sports law. He was also an honorary judge at the German Football Association's....
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The partners at TLT, the ELF member firm for England & Wales, have reappointed David Pester as Managing Partner and Robert Bourns as Senior Partner for their fourth consecutive terms at the helm of TLT. Both positions were uncontested by the 68-strong partnership. David and Robert will continue in their respective roles for a further three years.
David and Robert are responsible for the firm's strategic direction and development and are credited with leading the transformation of TLT from a merger of two Bristol firms, Trumps and Lawrence Tucketts, into the €46.5 million business it is today. Since their appointments in 2002, TLT has climbed 38 places in the top 100 UK law firm rankings to number 65; more than tripled turnover and headcount; and has more than doubled the....
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Last month's general meeting hosted by Danish member Lexsos Advokater and held in Copenhagen was attended by representatives from nineteen member firms. European Law Firm (ELF) also welcomed a number of guest delegates from firms interested in collaboration.
Guest firms, namely KSP Consulting from Albania, Höhne in der Maur & Partner from Austria, Milanova & Partners from Bulgaria and Legal Firm no. 11 from Russia attended the event to meet the members and get a better insight into how the network operates.
Flemming Rose, the Danish journalist, author and cultural editor of Jyllands-Posten, began Friday's general meeting with an interesting and thought provoking presentation on the "Freedom of Expression in a globalised World". In 2005, Mr Rose commissioned the....
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The network includes 29 commercially orientated law firms.
