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Hani Al Naddaf When entering into any contractual agreement, it is important to carefully consider the dispute resolution clause as this will determine where and how disputes will be heard. Similarly, when entering into a facility agreement where one of the parties is in Qatar or where the contract is performed (partially or completely) in Qatar, it is important to understand whether Qatari courts would uphold the parties' choice of foreign law and foreign jurisdiction or arbitration or dismiss them in favour of Qatari laws and courts.

Susanne Schreiber The Swiss Federal Supreme Court (SFSC) recently decided in a leading case on the revocation of a Swiss tax ruling which covered a continuing fact pattern.

León López Iglesias Law 40/2015, of October 1, on the Public Sector Legal Regime, which entered into force on October 22 2015, has amended article 90.1.6 of the Insolvency Law regulating the insolvency treatment of loans secured by pledges over future credits governed by Spanish law.

Huong Thi Thanh Nguyen Vietnam started opening its market for distribution services in 2007, immediately upon its official accession into the World Trade Organisation (WTO). Until 2010, the door for foreign trading companies was fully open for three main trading services, namely: (i) commission agent services, (ii) wholesale trade services, and, (iii) retailing services, except for certain kinds of products that were expressly reserved under Vietnam's WTO commitments as regards services; and the limitation on the permitted number of retail outlets, which was subject to the so-called economic needs test.

Bassam Moussa The Egyptian Electricity Law (law number 87) was issued in July 2015 (Electricity Law). Along with its executive regulation, which is expected to be issued before the end of the year, this law will represent the general legal framework for the electricity sector for decades to come. A long awaited reform, the Electricity Law paved the way to transition from a state monopoly into a free market for electricity.

Ramon G Songco Jenny Jean B Domino The service of a summons is indispensable in judicial proceedings. It both notifies the defendant that a suit has been brought against it and enables the court to acquire jurisdiction over the defendant in person, thus making any court order or ruling in such a case binding upon that defendant. This acquires particular relevance in cases of in personam actions, which are based on the defendant's personal liability. In contrast, in an action in rem, the judgment pertains to the thing that is the subject of the action and the court need not acquire jurisdiction over the defendant in person, only over the thing itself.

The lighter side of the past month in the world of financial law

Billion dollar price tags are the new normal for M&A. IFLR1000’s annual rankings identify the law firms that have laid the foundations for next year’s deal activity

John Breslin Ireland has a shared legal tradition with the UK. Even though UK decisions are not binding in Ireland (but have persuasive authority), decisions of superior courts in the UK (such as the Supreme Court) merit close attention. This is undoubtedly true for the recent UK Supreme Court decision on contractual penalties in two joined appeals cases: Cavendish Square Holding v El Makdessi/ParkingEye v Beavis ([2015] UKSC 67) (Cavendish decision).

Maria Pía Talavera Barclay A merger is a corporate reorganisation that involves the combining of different companies into a single company in order to enhance the financial and operational strengths of the corresponding organisations. Peruvian law provides that by virtue of a merger, one or more companies transfer in a single act all of their assets (property, rights, obligations and/or liabilities) in favour of a new or existing company, which absorbs them in their entirety, causing in turn the dissolution of the companies transferring their assets. Due to the relevance of the legal implications of a merger (among other things, the transfer of all of the assets of a company), it is pivotal to have certainty on the effective date of such corporate reorganisation. Unfortunately, Peruvian corporate laws are not clear in this respect.