13 Jul
Member News

Canada Counters U.S. Tariffs with Measures of its Own

By Darrel H. Pearson, Sabrina A. Bandali, and Jessica B. Horwitz | Bennett Jones  The Government of Canada has released its updated list of U.S. products that will be subject to a surtax when imported into Canada as of July 1, 2018. The final list targets approximately $16.6-billion worth of goods as a response to the U.S. section 232 tariffs imposed on Canadian steel and aluminum products. A 25% surtax applies to imports of listed steel products and a 10% surtax applies...

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13 Jul
Chapter News

2018 Country-Specific Recommendations on Economic, Employment, and Fiscal policies

On 13 July, the Council concluded this year's "European Semester" exercise, the annual monitoring process aimed at ensuring economic convergence and stability in the EU. The Council issued its 2018 recommendations and opinions to member states' on their economic, employment and fiscal policies. The recommendations had been endorsed by the European Council in June. The overall objective of this year's recommendations is to encourage member states to use the current favourable economic momentum to further strengthen the resilience of their economies. The European Semester...

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13 Jul
Brexit News, Member News

The weekly Vulcan View for the 9th to the 13th of July featuring analysis of the latest EU developments

VULCAN VIEW - KEY EVENTS THIS WEEK: BREXIT Theresa May’s softer Brexit plans thrown into disarray by prominent resignations.Theresa May’s conservative government encountered a wave of resignations this week in the aftermath of her cabinet showdown at Chequers last Friday. Brexit secretary David Davis was the first to resign.  He announced his resignation, accompanied by his junior minister Steve Baker, on Sunday, in a bluntly critical letter which stated he would not be a “reluctant conscript” to proposals which would give no...

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12 Jul
Member News

Three ways tax reform drives strong PE activity

By Torsdon Poon, Petter Wendel, Gerald Whelan | EY In the first quarter of 2018, private equity deal activity was up 60% over the same period in 2017, making it the most active first quarter for PE in more than a decade. That activity level is an indirect result of the Tax Cuts and Jobs Act, says Torsdon Poon, EY Americas Transaction Tax Leader. “The fact that corporate tax rate reductions are helping to create more stability in the market is beneficial,” says Poon....

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12 Jul
Member News

TD Bank and the High Line Return with ‘High Line Honey’ Event to Promote Sustainable Honey and Highlight the Environmental Importance of Bees

Join us on the High Line on Saturday, July 14th for a free community program featuring honey tastings, live beehives, and much more Friends of the High Line and TD Bank, America's Most Convenient Bank®, and the Presenting Green Sponsor of the High Line, today announce the return of the High Line Honey program, which culminates this year with a summer harvest event on the High Line on Saturday, July 14th. Organizers expect to produce between 100 to 150 pounds of...

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12 Jul
Member News

European Court of Justice finds current German anti-treaty shopping rule violates EU law

By Dr Raimund Behnes | DLA Piper Following its recent joint decision on Deister Holding (C-507/16) and Juhler Holding (C-613/16) on the former version of the German anti-treaty shopping rule (see earlier insights), the European Court of Justice (ECJ) has now decided that the current version of Germany's anti-treaty shopping rule, as widely expected, is also incompatible with the EU Parent-Subsidiary Directive and infringes the EU freedom of establishment (ECJ decision C-440/17). This outcome renders the German anti-treaty shopping framework in its current form invalid and...

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11 Jul
Member News

No escape | Why your termination-on-insolvency clause is unlikely to be effective under German law

By Osborne Clarke  Many supply, construction or service contracts include a clause which allows either party to terminate the agreement, or provides that the agreement will terminate automatically, upon the occurrence of various insolvency-related events. However, such clauses allowing for the termination of contracts purely for reason of insolvency of the other party are generally invalid under German insolvency law. Understanding how this might affect your contracts can help you to ensure that you are adequately protected through other contractual provisions,...

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11 Jul
Member News

Court of Justice condemns Belgian system for disregarding the A1 Declaration

By Danaïs Fol | Loyens & Loeff Today, July 11th, the Court of Justice issued an important ruling in the case C-356/15 European Commission versus Belgium. The Court of Justice ruled that Belgian legislation, which provides that Belgian authorities can unilaterally declare posted workers subject to the Belgian social security legislation, is inconsistent with EU legislation. A1 Declaration is presumed to be binding An A1 Declaration is an official document issued by a Member State in which a company that is posting workers is...

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11 Jul
Chapter News

Commission supports normalisation in Greece through activation of post-programme framework

The Commission has adopted a decision to activate the enhanced surveillance framework for Greece to support the implementation of agreed reforms following the successful conclusion of the European Stability Mechanism (ESM) stability support programme. On 20 August, Greece will conclude its ESM stability support programme, safeguarding its place at the heart of the euro area and the European Union. This major achievement is the result of the sacrifices of the Greek people, Greece's commitment to reforms, and the solidarity of...

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11 Jul
Brexit News, Member News

Eversheds Sutherland Financial Services Brexit Round Up week commencing 9 July

By Andrew Henderson | Michaela Walker Over the last week the UK cabinet has concluded its negotiations with itself in respect to what kind of deal it is going to seek with the EU, a deal which, in the words of HMG, has “evolved” since the Prime Minister’s Mansion House speech1. We have seen a brief summary of the terms, but not the much delayed White Paper (which is expected on Thursday 12 July) and this has led to, at the time of...

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