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BANKING LAW NEWS: Block Trading prompts European Banking Regulators’ interests

Saturday, 27 April 2013 00:11

Block trading – a practice which involves the purchase of “a block of shares” by a banking institution at a discount and then, reselling it on the market and which indeed, accounts for one of the fastest growing segment of the equity capital market – is said to be soon under scrutiny of the market regulators on banking safety. Those in the investment business have remarked that there exists an alleged market abuse primarily amongst certain European Banks by-passing the system. The prevailing circumstances have led to an accumulation of shares worth millions of Euros purchased by banking institutions which cannot always be traded at a profit.

According to the Financial Times of April 20-21, 2013, in an article entitled “Block trading failures intensify debate over risk” by Alexandra Stevenson, “banks are solicited to take part in a blind auction to underwrite a block sale on behalf of a shareholder … [and] if the winning bank prices the shares too ‘tight’ meaning at too narrow a discount from the company’s last trading share price, it can be left holding a large stake it is unable to shift at a profit”, citing Barclays as the most recent bank to suffer such consequences after it ended up with some $ 900 Million worth of shares in Dutch cable company Ziggo. As a consequence, Barclays ended up with a fourteen per centum (14%) of Ziggo’s shareholding, prompting interests from Prudential Regulation Authority, a specialized division within the Bank of England which has inherited the power to regulate bank safety from the UK Financial Services Authority.

 

 

 

TD&A NEWS: Participation at ELG Meeting held in Stuttgart

Saturday, 20 April 2013 17:36

Dr Michael Tanti-Dougall, Senior Partner at Advocates, Tanti-Dougall & Associates has once again participated at the European Law Group (ELG) Meeting this time round, held in Stuttgart, Germany between the 19 - 20  April, 2013.

This successful bi-annual ELG Meeting was hosted by Gartner Baumann Rechtsanwalte, a leading German law firm, at its prestigious offices.

The agenda for the meeting included update on mergers & acquisitions, taxation, intellectual property rights, e-commerce and employment law. As is expected during the ELG Meetings, the participants brought with them a wealth of personal experience from their respective jurisdictions thereon.

Also discussed were matters which are deemed of mutual interest for all members including the need or otherwise for specialisation during the current times of recession and the exchange of junior lawyers and business opportunities amongst ELG members.

Advocates, Tanti-Dougall & Associates, is a full member of the European Law Group (ELG) which was established some twenty (20) years ago in 1983 and whose members are leading law firms in Europe such as United Kingdom, Germany, France, Spain, Portugal, Hungary, Belgium, Italy, Holland, Austria, Sweden, Switzerland, Israel and also Malta, having the objective to assist respective clients especially on crossborder litigation, commerical, corporate, tax and financial matters, in particular within the European jurisdictions where each and ever resident law firm provides its professional services. However, that idea eventually expanded to providing legal assitance to clients even beyond Europe in the many jurisdictions around the globe, through a network of law firms in United States, Africa, Central and South America, Australia, Central and Eastern Europe as well as the Middle and the Far East.

Previous bi-annual ELG Meeting took place in Paris, France, last October. Forthcoming bi-annual ELG meeting will be held in Malta and will be hosted by Advocates, Tanti-Dougall & Associates.

 

 

 

TD&A NEWS: OHIM's '10 Years of Community Design' Conference in Alicante

Sunday, 14 April 2013 21:01

Europe has just celebrated ten (10) years of community designs with a well attended conference held in Alicante, Spain between April 8 and 9, 2013, organized by the Office for Harmonization on the Internal Market - Trade Marks and Designs (OHIM). Indeed, the conference was attended by well over 600 participants, mostly design attorneys from the Member States as well as from other countries such as China and United States. Dr Michael Tanti-Dougall, Senior partner at Advocates, Tanti-Dougall & Associates was the only participant from Malta at this landmark anniversary conference on community designs.

Various distinguished speakers and IP experts addressed the conference including Mr Pierre Delsaux, Deputy Director General, DG Internal Market and Services, the Hon. Jose' Manuel Sorla, Spanish Minister of Industry, Energy and Tourism, Ms Edit Herczoh and Ms Cecilia Wikstrom, Members of the European Parliament, Mr Antonio Campinos, President of OHIM, Mr Gregoire Bisson, Director of The Hague Registry, for Brands and Designs, Mr Alberto Casado Cervino, Vice-President of the European Patent Office, Antonio Andrade, Chair of the ECTA Design Committee, Marcus Hopperger, Director of Brands & Designs, WIPO, a number of judges who preside courts specialized for trade marks, patent and design cases, practising advocates in the IP field as well as re-known IP experts such as Sir Robin Jacob, but to mention a few.

Community Designs protection has had a huge positive impact on the European scenario and there exists a correlation on the number of applications filed by a given Member State and that Member State's economical growth. According to statistics issued by OHIM for the conference, it results that Germany is the top Member State with 169,690 community design applications over a period of ten (10) years since the inception of OHIM's offices in Alicante in 2003. Indeed, there have been more than 690,000 community design applications as at January 2013 which clearly shows that the community design evolution has been a true success story!

The many and varied topics discussed at the conference included how could a design improve life and therefore, the economy, design filing practices with OHIM and WIPO, enforcement of community designs, the Hague system as well as the Locarno classification, fashion designs, gastronomic related designs, mobile devices designs, urban designs, apart from various case law on furniture, automobiles, relative spare parts thereof and packaging which are deemed important landmark cases for the legal profession.

Dr Michael Tanti-Dougall paid also a courtesy visit to the OHIM offices in Alicante and met officials responsible to assess and decide the numerous applications received for community trade marks, patent and design protection.

Advocates, Tanti-Dougall & Associates can assist clients with intellectual property issues including filing of relative applications for trade marks, patents and design protection as well as representations in litigation proceedings to safeguard and to enforce one's rights thereon.

Advocates, Tanti-Dougall & Associates is a member of MARQUES, the Association of European Trade Mark Owners which incorporates both trade mark owners and professional legal practitioners.

 

 

AVIATION LAW NEWS: 'Aircraft Registration in Malta' Seminar

Sunday, 14 April 2013 19:29

Advocates, Tanti-Dougall & Associates represented by Dr Michael Tanti-Dougall, Senior Partner as well as by Dr Mario Calleja, Associate, participated at a seminar entitled 'Aircraft Registration in Malta' organized by the Malta Institute of Management (MIM) on 5 April, 2013.

The seminar was opened by Mr Reuben Buttigieg, President of the Malta Institute of Management.

The well attended seminar, which brought together various key experts in the industry, addressed several aspects under Malta's Aircraft Registration Act which came into force on 1 October 2010, including various technical issues relating to aircraft registration, the advantages as well as the implications for registering an aircraft under the Malta's tax regime, financing of aircraft, the importance of establishing an aviation maintenance hub of excellence in Malta with experienced technical personnel, and the need for a specialized court to handle aviation related proceedings.

Dr Michael Tanti-Dougall was invited to sit on the panel of experts which also included Dr Marco Ciliberti and Ms Josephine Farrugia, to discuss aviation related issues at the seminar.

Advocates, Tanti-Dougall & Associates, can assist clients, inter alia with the registration of an aircraft.