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NEW JUDGMENT AGAINST SPAIN BECAUSE OF CUTS TO RENEWABLES IN THE MASDAR AND ANTIN CASES

Just recently two of the twenty-seven international arbitration proceedings have concluded, which were initiated by foreign investors against the Kingdom of Spain via the International Centre for Settlement of Investment Disputes (ICSID),  attached to the World Bank, regarding the cuts applied to the  incentive system for the generation of electric energy via renewable energy in 2013: Masdar v. España Case…

RIGHT OF SEPARATION AND THE GENERAL MEETING

The  director of a limited liability company proposed at its General Shareholder’s Meeting that the profits gained should be  allocated entirely to voluntary reserves. The proposal was approved with only one vote against from a partner (shareholder) who proposed that the distribution of the totality of the profits, plus half of the voluntary reserves be put to a vote. The…

BRANCHES IN SPAIN – ANNUAL ACCOUNTS.

In Spain, the legal concept of a branch is defined in article 295 of the Commercial Registry Regulation (hereinafter referred to as the “Regulation”) as follows: “a branch shall be understood as any secondary establishment with permanent representation and a degree of management autonomy through which the activities of the company are carried out, wholly or in part.” Unlike permanent…

Cryptocurrency and the digital economy

In the wake of the judgment given by the EU Court of Justice in 2015, on 22nd February  2018 the German Finance Ministry issued its decision regarding the legal treatment of payments with cryptocurrency, according to which cryptocurrency is coming to be equated to payments made by legal means of payment inasmuch as they are accepted as a form or…