Committee publications
Reflections on the IBA European Regional Forum retreat in Santorini
This year’s retreat was held in Santorini, Greece between 16–18 May. It was an unforgettable event that brought together legal professionals from across Europe. Hosted by the esteemed Drakopoulos law firm, the retreat offered a unique blend of professional development and personal enrichment against the stunning backdrop of Santorini’s iconic landscapes.
Released on Jul 14, 2024
IBA European Regional Forum retreat in Santorini
As a newcomer to the European Regional Forum (ERF), I had no idea what or who to expect on my inaugural retreat. I clearly need not have worried and should have known that I would be warmly welcomed by a wonderful group of people at a beautiful sunset dinner in Oia. I quickly learned that incredibly valued friendships had been formed within the group and I could see what a close-knit and talented group of individuals this was. I was excited to see what we could achieve!
Released on Jul 14, 2024
A review of the worldwide M&A marketplace (2024)
The topics for discussion in this conference session ranged from the worldwide electoral climate and the impact of artificial intelligence, to M&A drivers and challenges and the regulatory environment.
Released on Jul 10, 2024
Italy: franchising contracts and minimum duration of three years
The Italian Supreme Court has finally confirmed an important principle, previously expressed by some lower courts, which remedies a probable mistake made when approving Law 129/2004. Article 3.3 of Law 129/2004 provides that franchise contracts must have a minimum duration of three years in order to allow the franchisee to amortise the investment made; however, this provision only refers to the case of a contract concluded for a fixed term.
Released on Jul 9, 2024
The climate crisis: act now to survive and thrive
To kickstart London Climate Action week, the Net Zero Lawyers Alliance held a symposium highlighting the integral role of lawyers in achieving net zero and encouraging firms to act now. This article summarises the key messages.
Released on Jul 7, 2024
Private equity today: legal issues and developments in private equity dealmaking
While deal values are down significantly in Europe, volumes are up, driven by platform deals and minority investments. Other features of the market include the prevalence of public-to-private transactions, broken deals (including for regulatory reasons), aborted auctions, restructuring deals, continuation vehicles, fund-to-fund deals and structured transactions, including earn-outs. This session at the IBA’s 21st Annual International Mergers & Acquisitions Conference 2024 examined these legal issues and developments.
Released on Jul 4, 2024
Governance, stewardship and activism (2024)
This panel, at the IBA’s 21st Annual International Mergers & Acquisitions Conference in 2024, examined the topic of ‘governance, stewardship and activism’ from the perspective of different jurisdictions and then focused on defence preparedness.
Released on Jul 4, 2024
Italian representative actions: a year in review
In the landscape of European legal systems, collective redress mechanisms have been a topic of significant interest and development over the past decade. Italy has seen a considerable evolution in this area with the introduction of a substantial reform of Italian Class Action rules, in 2019, as well as of representative actions, in 2023, implementing the EU Directive 2020/1828. As we mark the first anniversary of Legislative Decree No 28/2023 (the ‘Italian Representative Action Decree’ or the ‘Decree’ ), it is a good moment to reflect on the state of Italian representative actions and their impact on the Italian legal landscape.
Released on Jun 27, 2024
Group litigation in Scotland – a year in review
Last year (2023) was the year that collective proceedings really got off the ground in Scotland, and this theme has continued into 2024. This ‘class action’ style process was introduced in 2020 in the thick of Covid-19. It takes elements from different jurisdictions, with the principal features being: it is an opt-in procedure only; it requires commonality between claims, but the test is fairly flexible; it runs in the name of a ‘Representative Party’ (RP) who can be an affected claimant or, alternatively, a third party; permission to proceed as a formal group has to be given by the court at the outset; and claimants outside of Scotland can in principle be involved, if there is a basis for jurisdiction.
Released on Jun 27, 2024
Israeli Class Action Law 2006: a comprehensive summary
The Israeli Class Action Law, enacted in 2006, serves as a legal mechanism allowing a group of individuals who have been similarly harmed by a specific entity (such as a corporation or public authority) to unite and file a class action lawsuit. This law enables any member of the group to sue on behalf of the entire group, facilitating the enforcement of collective rights in an efficient and cost-effective manner.
Released on Jun 27, 2024
Awaiting precedent: class and representative actions as effective measures of consumer protection in Finland
An old wisdom sometimes heard from older legal professionals in Finland goes along the lines of ‘never take a private person as a client, as small individuals never prevail against big corporations’. But is, and more importantly should, this be the truth in a modern judicial system? Are there means to hold corporations responsible for their actions? And does the private person actually benefit from it?
Released on Jun 27, 2024
Poverty eradication for sustainable social development in Pakistan
Pakistan continues to reduce poverty amidst a backdrop of economic uncertainty, natural calamities and global crises. Notwithstanding progress in poverty reduction, recent stagnation indicated by statistics underscores certain challenges, including the floods of 2022. Despite this volatility, Pakistan is pursuing a diversified strategy to poverty reduction and social development.
Released on Jun 26, 2024
Recent developments in the laws relating to online gaming and online betting in India
As in many other parts of the world, the age-old activity of gambling also finds various references in Indian history and mythology. While ancient texts such as the Rig Veda, Atharva Veda, Ramayana and Mahabharata caution against its harms, others such as the Katyayana Smriti, Manu Smriti and Narad Smriti support its regulated existence, citing its potential as a source of revenue for the Kingdom
Released on Jun 25, 2024
A synopsis of sports law in India
Sports in India is predominantly synonymous with cricket. It is often said that in India, cricket is not a sport, but is a religion; and, since the advent of the Indian Premier League in 2007, besides cricket, other sports in India have also animated all conversations with passion, not simply for the love of sports, but because of the impressive revenue that sports generates.
Released on Jun 25, 2024
Power Law: Editorial June 2024
John Vellone, Newsletter Editor of the IBA Power Law Committee introduces the latest collection of articles from Committee members.
Released on Jun 19, 2024
Pakistan’s National Space policy
Launched on 13 December 2023, Pakistan's National Space Policy (NSP) represents a significant turning point in the country's efforts to explore space and progress technology. This policy is an attempt to bring Pakistan's space activities into line with international trends and geopolitical difficulties in order to promote international cooperation and guarantee adherence to international norms. The NSP emphasises the importance of legal frameworks, public-private collaborations and sustainable space operations. It encompasses goals including national development, peaceful space utilisation and self-reliance in space technology. The National Space Agency is now known as the Space and Upper Atmosphere Research Commission (SUPARCO). The NSP outlines key areas of concern, such as industry promotion, capacity building, and research and development. Pakistan is set to become a major player in the international space community as SUPARCO implements the NSP, supporting scientific innovation, economic development and national security.
Released on Jun 18, 2024
Overview of Nigeria’s dynamic cryptocurrency regulatory landscape
Globally, the regulation of cryptocurrency is a complex and evolving terrain. Various jurisdictions have adopted diverse approaches, ranging from outright bans to varying degrees of oversight. In Nigeria, while there is no outright ban of cryptocurrency usage or trading, the regulatory regime remains in flux. The Nigerian government has navigated this landscape through a multi-agency approach, seeking to balance the potential benefits of cryptocurrency with mitigating risks like, foreign exchange volatility, money laundering and fraud. This article provides an overview of the cryptocurrency regulatory landscape in Nigeria, highlighting recent developments in this evolving space.
Released on Jun 18, 2024
Lessons learned from the first filing year of Canada’s forced and child labour in supply chains legislation
Canada’s Fighting Against Forced Labour and Child Labour in Supply Chains Act (the ‘Act’) came into force on 1 January 2024. On 20 December 2023, only a few months ahead of the 31 May 2024 reporting deadline, the government published the first set of compliance guidelines which, among other things, introduced an online questionnaire to be completed as part of the reporting obligations under the Act. Now that the 31 May deadline has passed for subject companies to file their reports under the Act, the time is ripe for reflection.
Released on Jun 16, 2024
Polish legal framework for nuclear small modular reactors
The article describes the existing Polish regulations on nuclear small modular reactors (SMRs) and presents the regulations contained in the Atomic Law and the Nuclear Special Act. On the basis of these legal acts, the main stages of the investment process are introduced, including the types of administrative permits required for this type of investment. The article draws attention to legal restrictions as well as other types of barriers to the development of SMR technology in Poland and also discusses the status of the first SMR projects in Poland.
Released on Jun 16, 2024
Overview on the current SMR’s development status in Mexico
Mexico is exploring the potential of Small Modular Reactors (SMRs) to enhance its nuclear energy capabilities. The Political Constitution assigns the responsibility for electric energy planning and control to the federal government, emphasising the strategic role of transmission and distribution. Key agencies such as the Ministry of Energy, the National Commission on Nuclear Safety and Safeguards (CNSNS) and the Federal Electricity Commission (CFE) are pivotal in this effort. While no specific SMR plans have been detailed, these bodies are actively involved in discussions and evaluations. The National Institute for Nuclear Research (ININ) also supports nuclear energy initiatives, including SMRs, to meet energy demands and reduce fossil fuel reliance. Despite the lack of a formal timeline, Mexico’s energy strategy shows promise for integrating SMRs into its clean energy future.
Released on Jun 16, 2024
Navigating new horizons: the legal framework for SMRs in Pakistan
This article investigates the possibility of Small Modular Reactors (SMRs) as a solution to Pakistan’s growing energy demands amidst challenges such as rising inflation, natural disasters and debt default. Highlighting the country’s reliance on imported fuel and the consequent circular debt, the article advocates for a move to nuclear energy, specifically the use of SMRs with Chinese aid through the China-Pakistan Economic Corridor (CPEC). The article describes China-Pakistan nuclear cooperation and the need for the Pakistan Atomic Energy Commission (PAEC) and the Pakistan Nuclear Regulatory Authority (PNRA) to provide a legal and regulatory framework to enable safe SMR deployment.
Released on Jun 16, 2024
Legal perspectives on SMRs in Canada
Canada is targeting net-zero carbon emissions by 2050. Small modular nuclear reactors (SMRs) are emerging as a potentially pivotal technology to achieving Canada’s emission targets. Several SMR projects are in development and offer a means to decarbonise the electricity grid, connect isolated Canadian communities, support Canada’s mining industry and potentially support medical applications. SMRs offer significant potential but development remains challenging and further evidence is required for deployment at scale. In this context, developments in regulation, licensing and design review will significantly impact the future of Canada’s emerging SMR industry.
Released on Jun 16, 2024
Türkiye: legal framework of small modular nuclear reactors and applications
The first initiatives regarding nuclear energy in Türkiye date back to approximately 70 years ago. Since this period, significant steps have been taken at various stages, culminating in the current state of nuclear energy development. A prime example of this progression is the collaboration between the Government of Türkiye and the Government of Russia to establish and operate the Mersin-Akkuyu nuclear power plant, including its ongoing construction. Additionally, similar projects are currently underway in Sinop and İğneada-Kırklareli. Consequently, the importance Türkiye places on nuclear energy indicates a potential shift towards Small Modular Nuclear Reactors (SMRs). Studies related to SMRs are being conducted by both governmental and private institutions.
Released on Jun 16, 2024
Brazilian tax reform: what should we expect?
Taxes in Brazil have never been easy, and they are likely to become even more complicated in the years to come, even if, in the long term, they are for a potentially positive outcome.
Released on Jun 11, 2024
Transfer pricing in India – a critical analysis
Transfer pricing, in very basic terms, refers to stock transfers between multinational companies or enterprises. But as easy as it sounds, it is also complex.
Released on Jun 11, 2024
Some reasons for the significance of American and British law firms in the global context
Globalisation has fundamentally accelerated and altered business transactions. The search for low labour costs and cheap raw materials has led to a proliferation of international transactions and large international law firms are being called on to participate in complex transactions generally and help businesses tap into sources of finance around the world for investment.
Released on Jun 11, 2024
Revolutionary changes in Argentina’s economic legislation
On 10 December 2023, a new president was inaugurated in Argentina with a strong capitalistic and conservative profile. President Javier Milei believes in balanced state budgets, free international trade, insertion of the country in the Western world, private investment as a means of economic growth and social advancement and deregulation of the economy.
Released on Jun 11, 2024
Globalisation is here to stay, and lawyers have got the message
It was not very long ago that the idea of an international law practice, much less that of an international law firm, was, if not a completely bizarre notion, certainly most unusual. Indeed, there was a time when, if you said ‘international law firm’, you would have been talking about the Franco-American law firm Coudert Brothers (or Coudert Frères), now vanished into the mists of history; and maybe Baker & McKenzie, the Dentons of the mid-century legal world. And that was it.
Released on Jun 11, 2024
New decisions in the Italian legal system regarding corruption in the healthcare sector
The fight against corruption in the healthcare sector in Italy is exploring new and interesting paths. Many pharmaceutical and medical device companies have been indicted in the last years for corruptive practices to ensure the utilisation of their pharmaceutical or medical products in hospitals.
Released on Jun 11, 2024
Top five takeaways on corruption perception in Latin America: insights from professionals across the region
Nearly ten years after it started, one of the biggest corruption scandals in recent history, ‘Lava Jato’, or Operation Car Wash, continues to wind its way through the Brazilian courts. In January 2024, a Brazilian Supreme Court judge suspended the payment of more than US$2bn by Novonor (formerly Odebrecht) as part of a leniency agreement where executives admitted to bribing Brazilian officials.
Released on Jun 9, 2024