On 5 December 2017, the Economic and Financial Affairs Council (ECOFIN) determined a list of 17 non-cooperative jurisdictions, i.e. the EU black list. This list was established based on three (screening) criteria: tax transparency, fair taxation (no harmful tax regimes) and implementation of BEPS minimum standards. The Netherlands, Belgium, Luxembourg and Switzerland are not included in this black list. The ECOFIN recommends that (but does not oblige) the Member States apply tax sanctions towards the listed jurisdictions. The EU may...

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By Tommaso Foco | Ginevra Sforza |Portolano Cavalo Studio Legale Following the approval by the Parliament of Law No. 155/2017 setting forth the principles for a thorough reform of bankruptcy law, the Italian Government is now working on the delegated law that is bound to replace the more than 70-years old Bankruptcy Act (1942). The new law will consolidate in one single act the various changes to the Bankruptcy Act that have been made since 2005 and will provide a...

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By Onno Bouwmeister | Malcolm Pobjoy | VISTRA If 2017 serves as a window into projections for the year ahead, then next year promises to be one of sustained growth for the private equity community. Mega deals were the order of the day in the first half of this year, and industry experts note that 2018 will likely be more of the same. According to PitchBook Q3 2017 US PE Breakdown, US-based funds raised $62.4 billion in commitments for just 58 vehicles...

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By Rein Wesseling | Christof Swaak | Floris ten Have | Stibbe Today the ECJ rendered its much anticipated judgment in a dispute between a supplier of luxury cosmetics (Coty) and one of its authorised resellers. The central question was whether Coty is allowed under the competition rules to forbid its resellers to sell Coty products over third party internet platforms with visible logo’s (like eBay or Amazon). The ECJ ruled that such an “online platform ban” is not incompatible with EU...

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By Wilson Sonsini Goodrich & Rosati In early 2018, the U.S. Department of Commerce's Bureau of Economic Analysis (BEA) will issue its mandatory five-year benchmark survey to obtain data on foreign direct investment (FDI) in the United States. The survey, known as the BE-12 survey, is required for U.S. entities in which a foreign entity or person holds, directly or indirectly, 10 percent of more of the U.S. entity's voting interests at any time during 2017. The completed surveys are due...

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By For the first time in 10 years, JRT Realty Group is delighted to present a leasing opportunity at United Nations Federal Credit Union’s Global Headquarters in Long Island City (Court Square Place / 24-01 44th Road). As leasing agents, we are offering a block of four floors (80,000 SF) at Court Square Place. These floors are available for possession in May 2018; and they can be leased as a block or individually. Court Square Place is a trophy office tower; and...

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