16 Jul
Chapter News

Euro area international trade in goods surplus €23.0 bn – €7.8 bn surplus for EU28

Euro area The first estimate for euro area (EA19) exports of goods to the rest of the world in May 2019 was €203.4 billion, an increase of 7.1% compared with May 2018 (€189.9 bn). Imports from the rest of the world stood at €180.3 bn, a rise of 4.2% compared with May 2018 (€173.0 bn). As a result, the euro area recorded a €23.0 bn surplus in trade in goods with the rest of the world in May 2019, compared...

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16 Jul
Member News

New Treasury Regulations Revise Taxation of U.S. Persons Owning Foreign Corporations

By Alan Winston Granwell,  William M. Sharp,  Robert G. Lorndale,  Christopher Fiore Marotta | Holland & Knight In an unanticipated development, the U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) recently issued regulations (New Guidance) that significantly modifies the taxation of U.S. persons owning stock of foreign corporations through domestic partnerships. The New Guidance will impact planning and 2018 compliance/reporting decisions. For domestic partnerships and limited liability companies (LLCs) with minority U.S. partners, including private equity...

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16 Jul
Member News

Tradewind Announces $2.5 Million Credit Facility for Sustainable Homewares Company based in China and the USA

Tradewind has closed a $2.5 million trade finance facility for a company based in China and the USA that sells sustainable, ecologically sourced and manufactured homewares. The company exports to major retailers in the US including Amazon, Target, Kroger, and the Container Store as well as to distributors in key international markets globally. It is using the accelerated cash flow for working capital to increase production volumes, expand into new distribution channels, and initiate diversified brand marketing. Selling to Tier...

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12 Jul
Brexit News, Member News, News

Vulcan News – Insights on Brexit and the latest EU Developments – 8 July – 12 July 2019

Vulcan Insight - Analysis of the latest EU Developments - 8 July - 12 July 2019 Key Events This Week Von der Leyen charm offensive begins in earnest European Commission President nominee Ursula von der Leyen continued her charm offensive in Brussels this week. The German nominee must impress the European Parliament Political Groups to make her way to the 13th floor of the Berlaymont. MEPs posed questions related to Brexit, climate change, rule of law and the institutional structures of the EU during the...

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12 Jul
Member News, News

Dutch implementation of the EU Directive on Tax Dispute Resolution

On 9 July 2019, the Senate approved the bill on tax arbitration which implements the EU Directive on tax dispute resolution mechanisms in the European Union ("EU Directive on Tax Dispute Resolution") into Dutch national legislation. The bill will be published in the Dutch Gazette as soon as possible, after which the law will take effect as from the following day. The bill results in the new Dutch Tax Arbitration Act ("TAA"). The TAA contains the procedural rules concerning (EU-)...

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11 Jul
Member News, News

Tradewind Renews Partnership with Leading Denim Organization

Tradewind is pleased to renew its partnership with Denim City, an Amsterdam-based innovation center that advocates for sustainability and unity in the denim industry. The organization, composed of several subdivisions and driven by a mission to raise awareness of cleaner, smarter denim practices, boasts a workshop for sample making, an R&D lab for testing, an academy offering training courses, and an archive showcase of over 500 iconic jean garments. Denim City is founded on a groundwork of collaborators from the...

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11 Jul
Member News, News

Shareholders rights: new developments

Increased shareholder rights equals additional obligations for asset managers and intermediaries. On 10 July 2019, the Luxembourg parliament adopted the final text of the bill of law (the “New Law”) implementing into Luxembourg domestic law the provisions of Directive (EU) 2017/828 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement (the “SRD II”) and amending the Luxembourg law of 24 May 2011 on the exercise of certain rights of shareholders in listed companies (the “Shareholders Rights Law”). Whereas...

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10 Jul
Chapter News, News

Summer 2019 Economic Forecast for Europe: Growth clouded by external factors

The European economy is set for its seventh consecutive year of growth in 2019, with all Member States' economies due to expand. Growth in the euro area was stronger than expected in the first quarter of the year due to a number of temporary factors such as mild winter conditions and a rebound in car sales. It also benefited from fiscal policy measures, which boosted household disposable income in several Member States. The near-term outlook for the European economy,...

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10 Jul
Chapter News, News

European Council appoints new EU leaders

The European Council elected today Charles Michel as President of the European Council. The President of the European Council is elected for the period from 1 December 2019 until 31 May 2022. The mandate of two and a half years of the President of the European Council is renewable once. The European Council also welcomed the decision of the Heads of State or Government of the Member States whose currency is the euro to appoint Charles Michel as President...

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10 Jul
Member News, News

Taking security over assets in Europe: Some practical considerations

With corporations having increasingly extensive global footprints, a US-based investor, bank or alternative lender looking to reduce or manage risk by taking security over a company’s assets located outside of the US may find themselves unexpectedly navigating different legal systems and processes. In this article we look at some of the practical considerations and formalities for US lenders to be aware, with a focus on some of the cost implications and formalities that apply in relation to England and...

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