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  • What can be done if no cooling-off period is agreed?

    What can be done if no cooling-off period is agreed?

    Published: 11 Sep 2018

    Question Cooling-off period refers to a period agreed by the franchisor and the franchisee in a Franchise Agreement where the franchisee is allowed to unilaterally terminate the Franchise Agreement with no cause. The purpose of such cooling-off period is to prevent any impulsive investment behavior by the franchisee by giving the franchisee right to go back, so that to protect the interest of th...

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  • How to prevent bad debt

    How to prevent bad debt

    Published: 11 Sep 2018

    Reason for bad debt In business operation, receivables which cannot be collected timely occur frequently. With time lapses, the chance of collection on some receivables becomes very little which finally leads to bad debt. Various reasons which may cause failure in collecting receivables include but not limited to: 1.       the buyer encounters fund shortage or get...

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  • Posting of workers-a more restrictive “non-replacement condition”

    Posting of workers-a more restrictive “non-replacement condition”

    Published: 10 Sep 2018

    In Alperind GmbH and Others (C-527/16) the European Court of Justice confirms (once again) the binding and retroactive effect of the Portable Document A1, adds to the debate in regard to the interpretation of the ruling in Altun and Others(C-359/16), and rules for a restrictive interpretation of the “non-replacement condition”. The case in the main proceedings The dispute in the main proceedin...

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  • EGC upholds declaration of invalidity with respect to a design

    EGC upholds declaration of invalidity with respect to a design

    Published: 07 Sep 2018

    In a ruling from March 14, 2018, the General Court of the European Union (EGC) upheld a declaration of invalidity with respect to a design. The reason: the design had already been made publicly available before its registration.  A design encapsulates a product’s appearance; its shape, its pattern, its colour. Registering a design serves to protect the design itself as well as the work put ...

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  • Changes to the Remittance Basis of Taxation of non-domiciled persons

    Changes to the Remittance Basis of Taxation of non-domiciled persons

    Published: 04 Sep 2018

    By virtue of the Budget Implementation Act 2018, a new article has been introduced in the Income Tax Act of Malta (Chapter 123) that relates to the remittance basis of taxation. The revisions introduced in this Bill are aimed to introduce a minimum annual tax payable by individuals who are subject to tax on a remittance basis. At present, individuals who are ordinarily resident but not domiciled...

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  • BGH on managing directors’ liability for competition violations

    BGH on managing directors’ liability for competition violations

    Published: 04 Sep 2018

    Managing directors may be liable for their company’s violations of competition law. Having said that, the Bundesgerichtshof (BGH), Germany’s Federal Supreme Court, has severely limited managing directors’ liability (Az.: I ZR 242/12). Under earlier case law, the liability of managing directors in the event of competition violations was interpreted more broadly. Liability was a serious prospect e...

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  • Cyprus at the crossroads; why the Cyprus International Business Companies and International Trust still remain the best options

    Cyprus at the crossroads; why the Cyprus International Business Companies and International Trust still remain the best options

    Published: 03 Sep 2018

    Following the 2013 infamous "haircut"/bail - in the Republic of Cyprus in accordance withe Eurogroup's ant Troika's decisions, friends and foes were startled and alarmed, of what the consequential implications would be on the smooth operation of the corporate, paralegal and fiduciary services sector. Five years down the line and taking into account our firm's day to day in depth involv...

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  • BSG on mandatory social security contributions for managing directors

    BSG on mandatory social security contributions for managing directors

    Published: 31 Aug 2018

    Mandatory social security contributions for managing directors are a controversial subject. The Bundessozialgericht (BSG), Germany’s federal supreme court in relation to social security matters, recently ruled that managing directors shall, as a rule, be deemed to be employees of a GmbH. The issue of mandatory social security contributions for managing directors can sometimes give rise to signif...

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