What are the differences between Project Manager, Supervisor or Consultant in the construction sector under Romanian law?

Foreign investors in the real estate field in Romania contemplating construction or refurbishment often request legal advice in respect of their obligation to appoint a consultant or a project manager within the process of constructing a new building or refurbishing an existing structure.  They further request clarification regarding the differences between the definitions of project manager, supervisor […]

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Whether and how a sudden price increase can affect the amount of insurance indemnity to be paid by the insurer

In the event of damage of a thing, the insurer generally bases the amount of the insurance indemnity on the time of the occurrence of the insured event and the expenses that are necessary at that time to restore the former situation. The insurer will find out the exact amount of expenses by comparing the […]

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One year exoneration of the payment of Income Tax for Cooperative Associations

Presidential Decree No 4 695 was published in Official Gazette No 42 339 of June 15 2022 exonerating from the payment of Income Tax (the territorial net taxable income obtained by Cooperative Associations Please find below the most relevant aspects of this Decree : 1. Exoneration By means of the Decree, the territorial net taxable […]

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Kallas Law Firm joins IR as the exclusive Real Estate,Corporate Law and Commercial Litigation Member in Lebanon

IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Malek Kallas has joined IR as our exclusive Real Estate,Corporate Law and Commercial Litigation in Lebanon. Acting as managing partner at Kallas Law Firm, his expertise is primarily focused on banking, corporate law, complex cross border commercial disputes and real estate. Malek […]

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Hong Kong’s proposed foreign source income exemption regime for passive income

Under Hong Kong’s Proposed FSIE Regime, offshore passive income will be deemed to be sourced from Hong Kong and subject to Hong Kong tax if certain requirements are met. The Hong Kong government plans to introduce an amendment bill on Hong Kong’s Proposed FSIE Regime in October 2022 in order to bring the Proposed FSIE […]

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Hear the Future, the Future is Here: Summer Legal Internship Fair 2023 at Chulalongkorn University

Blumenthal Richter & Sumet (BRS) attended the “Hear the Future, the Future is Here: Summer Legal Internship Fair 2023” at Chulalongkorn University, on 14 September 2022. The university organized lectures to prepare students for applying to internships and law firms provided information about their internship programs, including BRS where our team members gave out information […]

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How Do I Lend to LPs & REITs?

Loan transactions commonly involve non-corporate entities such as limited partnerships and Real Estate Investment Trusts (“REITs”). It is important for lenders to understand how they should modify their practices and procedures when dealing with such entities. Limited partnerships typically consist of a general partner (although there can be multiple general partners) and one or more […]

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New requirement for labour contracts under the “Transparency Decree”

On 29 July 2022 legislative decree no. 104 concerning the “Implementation of Directive (EU) 2019/1152 of the European Parliament and of the Council of 20 June 2019, relating to transparent and predictable working conditions in the European Union” was issued. This piece of legislation – which transposes into Italian law the provisions of Directive (EU) 2019/1152, […]

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Client Alert: New York City Local Law 97 – Landlord Considerations in Dealing with Their Tenants – August 24, 2022

As part of the national and global push to reduce greenhouse gas (“GHG”) emissions to combat the effects of climate change, New York City passed the Climate Mobilization Act (the “Act”). Local Law 97 (“LL97”), enacted in 2019, forms a crucial component of the Act. Specifically, the goal of LL97 is to reduce GHG emissions […]

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HKEx Updates on Climate Disclosure Standards

On 10 June 2022, the Stock Exchange of Hong Kong (HKEx) released its 2022 listing newsletter (HKEx Listing Newsletter). This fourth edition primarily focuses on the forthcoming global sustainability reporting standards on climate disclosures that will form the upcoming HKEx review of the environmental, social, and corporate governance reporting framework (HKEx ESG Reporting Framework), the […]

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What Is The Automatic Stay And How Does It Work?

The instant a bankruptcy is filed, a “stay” usually goes into effect, restraining creditors (those owed money or property) from taking certain actions against the debtor (the person or entity that filed for bankruptcy) or against “property of the estate.”  This stay is “automatic” as it happens as a function of the law, without any […]

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