Articles
The Burden of Proof in Tax Law (Portugal)
A review of procedural tax law in Portugal, with a focus on the burden of proof in tax cases.
A review of procedural tax law in Portugal, with a focus on the burden of proof in tax cases.
A review of reorganization procedures under Brazilian bankruptcy law.
This report underlines the extent to which corporates have sought to diversify their funding mix. Following years of volatility and uncertainty, the financial markets appear to be stabilising. What’s now clear, as the dust settles from the financial crisis, is that a structural shift has taken place in the way that corporates access finance. This report highlights that, rather than returning to normality, financing is set to become increasingly diversified. It also assesses the implication of this on the behaviour of both banks and funds.
A review of recent changes in Brazil related to thin capitalization, which apply to money borrowed by a Brazilian company from a foreign related party. Thin capitalization allows the borrowing party to pay interest to the related party lender instead of paying dividends.
On 19 March 2013, under file No XI ZR 431/11, the German Federal Supreme Court clarified the circumstances in which an investor may have a misselling claim against a “direct bank” (i.e. a bank holding an account for the deposit of securities on an execution-only basis only).
The purpose of this brief note is to help market participants make contingency plans where the political crisis involving Ukraine results in sanctions and embargoes, exchange controls, expropriations and the break up of Ukraine. It focuses in particular on the legal impact these events might have on financial contracts, such as bond issues, bank loan agreements, deposits and investments. It does not deal with wider political and economic consequences, such as the impact on a country’s economy and its banking system.
The Financial Conduct Authority (FCA) has recently emphasised the importance of its responsibilities in relation to the prevention of financial crime within those sectors of the UK financial services industry that it regulates. The term “financial crime” encompasses a broad range of areas that are relevant for UK and international financial institutions, including: data security, money laundering, terrorist financing, bribery and corruption, fraud and sanctions breaches.
Within the context of the international and European proposals on the resolution of banking crises, the French government published a draft banking law that proposes to ring-fence certain speculative banking activities, and to introduce a number of measures for the prevention and resolution of banking crises under French law.
Effective management of business funds is a very important goal for a company with several foreign branches or affiliate companies. One strategy for achieving effective funds management is to implement a cash pooling arrangement (including a cash management system). There are two types of cash pooling arrangements: actual cash pooling and notional cash pooling. This article provides information on both types.
An informative primer on accessing foreign tax information networks under the OECD Model Convention.