Jamie Benson included in India Business Law Journal’s A-List for three consecutive years

SINGAPORE, 1 April 2021 –  Duane Morris & Selvam is pleased to announce that Director and Head of the U.S. Capital Markets and India Practices, Jamie Benson, has been included the newly published India Business Law Journal’s A-List of Top 100 India focused lawyers at international law firms. This is the third year in a row that Jamie has been included in the list after he was named in the inaugural A-List in 2019.

The International A-List is based on extensive research conducted by the India Business Law Journal and based on the independent collective views of in-house counsel and private practice lawyers in India.

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Non-fungible tokens – the rising trend in the world of cryptocurrency?

Non-fungible tokens (“NFTs”), a type of digital asset, are the latest crypto talk in town. On 19 February 2021, the NFT featuring the iconic Nyan Cat meme was sold for US$590,000. Barely three weeks later, the world’s most expensive digital art and the most expensive NFT – Mike Winkelmann’s digital art piece “Everydays: The First 5000 Days” – was sold for US$69.3 million, becoming the third-highest auction price achieved for a living artist, after Jeff Koons’ ‘Rabbit’ stainless steel sculpture and David Hockney’s 1972 “Portrait of an Artist (Pool with Two Figures)” painting. On 22 March 2021, Twitter CEO Jack Dorsey’s first tweet was sold for US$2.9 million. Most recently, TIME Magazine has released three special edition NFT magazine covers for auction, featuring the topical questions “Is God Dead?”, “Is Truth Dead?” and “Is Fiat Dead?”

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Effective Estate Planning

The thought of estate planning often brings to mind your will and your legacy. As you have spent your entire life on the acquisition, management and preservation of your wealth of assets for the benefit of your loved ones you leave behind, shouldn’t you pay as much attention to the prudent distribution of your assets upon your demise to ensure that your wishes are effective in bringing about the desired result and minimize the burden on your loved ones who inherit your assets? Of particular concern here is the legacy involving real estate property and joint bank accounts. The key to effective estate planning is knowing how the manner of holding such assets in the first place affects the right to transfer them upon death.

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有效的遗产规划

提到遗产规划,相信你会联想到遗嘱和遗产。在你用了一生的时间为了至亲至爱所积累,管理和保护你的财富的时候, 更应该确保过世后财产会被谨慎合理的分配,在达到所期望的分配结果的同时,减轻继承财产的负担。其中特别需要注意的是房地产和联名银行账户。有效遗产规划的关键是了解持有这些资产的方式将会如何影响过世后的转让权。

动产: 联权共有和生存者拥有原则

通常是你拥有的最大资产是不动产,许多已婚夫妇作为共同家庭购买的房屋,都是以夫妻共同持有的名义持有的。对于联权共有人,法律规定,当一位业主死亡时,财产自动归在世的联权共有人所有(生存者原则),并且不会根据死者的遗嘱作为遗产的一部分进行分配。即使你已经在遗嘱中将房产分配给指定继承人,在死者死亡的那一刻,这部分房屋所有权已经划归其他共同所有人,而非死者本人。如果你想在过世后把房产转移给指定受益人,你必须首先终止联权共有,使其脱离“生存者原则”的规则,一旦生效,联权共有将变为分权共有。并在死者死亡的那一刻,房产将按照死者遗嘱进行分配。

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违约金在英美法合同中有效吗?

我们经常在中国法管辖的合同中看到违约金/罚金这样的条款,常常规定如果合同一方不如约履行合同,则需要支付一定数额的违约金给对方。根据我国《合同法》规定,我国对于损害赔偿的范围采纳的是可预见性标准,同样该标准也适用于违约金条款,即违约金不仅可以包括因违约造成的实际损失,还可以包括合同履行后的可得利益。

但是违约金的适用有一定的限制,一般来说合同违约金的上限是不超过实际损失的30%,但是过高或者过低都是可以请求人民法院或者仲裁机构予以适当减少或者增加的。由于这项要求,大部分中国法合同都会在合同中约定相当可观的违约金,因为即使约定的过高,也可以在经过法院或者仲裁机构调整后予以执行,还可以避免在出现违约情况后再来计算损害赔偿数额。而且高额的违约金,也会对合同各方有一定的震慑作用,使得合同各方因忌惮高额的违约金而有积极履行合同的动力。

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新加坡科技准证(Tech Pass)正式启动

早于去年年末,新加坡经济发展局就曾宣布将于今年推出一种新型准证Tech Pass,旨在吸引全球顶尖科技人才前往新加坡,以促进新加坡科技态系统的发展,进一步巩固新加坡作为区域科技枢纽的领先地位。近期,新加坡经济发展局正式启动了Tech Pass,申请人已经可以在其官网上提交申请了。

哪些人可以申请科技准证?

申请人不必必须受雇于新加坡企业,其可以是新加坡企业的雇员,也可以直接在新加坡进行创业、做投资人、担任董事等。申请人只要满足以下三项条件中的两项就可以申请科技准证。当前持有工作准证(Employment Pass)、 个人化就业准证(Personalized Employment Pass)等准证的人员,若在符合条件的情况下亦可以申请更换其准证为科技准证。

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新加坡可变动资本公司(VCC) 特点与优势

自2020年1月新加坡金融管理局(简称“金管局”)与会计与企业管制局(简称“ACRA“)联合声明,正式推出可变动资本公司(VCC)框架以来截止10月份,已有近乎于160多家VCC如雨后春笋般涌现。 金融管理局公布的《2019新加坡资产管理调查》报告显示,新加坡在2019年资产管理规模年比增长15.7%,达到2.9万亿美元。其中包括传统领域资产(如股票与债券)以及另类资产(私募股权,风险创投等)。新加坡一直以安全稳定的经济、较宽松的监管以及较低的公司税率等来保持其投资吸引力;新 VCC 框架将为投资基金在新加坡的注册和营运提供更大的灵活度。有望鼓励更多基金经理和投资基金产品以新加坡为据点,提升新加坡作为全球投资基金中心的地位。

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新加坡国会已通过付款服务(修正)法案 防范洗黑钱与恐怖融资行为以及加强对数码支付代币供应商的管制

新加坡国会于2021年1月4号通过《付款服务(修正)法案》

修正案在2019年的法案基础上,在 “反洗黑钱与反恐怖融资”,“加强对数码支付代币供应商监管”等方面作出了改善。它不仅仅完善了新加坡的支付服务监管框架,与全球接轨。金管局也能够灵活地从多方面对应种种风险。

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COVID-19 (임시조치) 법 2020 개정안 – Part 8A 및 Part 8B

본 기고문은 2020년 11월 30일부터 발효된 COVID-19 (임시조치) 법 2020 (이하 “COVID-19법”)의개정안 중 Part 8A 및 Part 8B에 대한 내용을 안내 드리기 위해 작성되었습니다.

2020년 11월 3일자 BCA 공지 내용에 대한 기고문에서 안내 드린 바와 같이, 개정된COVID-19 법 Part 8A 와 Part 8B는 건설업 관계자들에게 공사 기간 연장 (EOT) 및 비용 분담을 통한추가적인 구제 방안을 규정하고 있습니다. 이러한 구제 방안은 정부가 건설 계약 당사자인 경우를 포함한 모든 건설 계약들에 적용됩니다. 이와 관련된 BCA 공지와 안내서는 첨부된 자료를 확인해 주시기 바랍니다. 개정된 COVID-19 법 Part 8A 및 Part 8B의 주요 내용을 정리하면 다음과 같습니다.

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Navigating Crisis – Considerations for Private Equity and Venture Capital Funds

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Globally, private equity (“PE”) and venture capital (“VC”) funds ended April 2020 with a record $2.6 trillion in unspent capital at their disposal. With cash readily available, the ongoing coronavirus pandemic presents ample opportunities for well-managed PE and VC sponsors to capitalize on these trying economic circumstances. At the same time, the economic damage wrought by the pandemic presents significant challenges to sponsors and their portfolio companies. This article discusses some of the ongoing opportunities and challenges PE and VC sponsors face, with a focus on three broad categories: (i) considerations for existing portfolio companies, (ii) the impact on transaction execution and terms for new portfolio investments, and (iii) fund-level considerations.

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