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A will apparently executed in 2012 by John Payne, leaving most of his estate to his son by his first marriage, has been overturned on the grounds that the attesting witnesses' evidence was unreliable. The England and Wales Court of Appeal instead admitted to probate an earlier will leaving everything to Payne's second wife, despite significant doubts about that will's execution and attestation, too. FATTO

Further comment has appeared on the England and Wales Family Court's decision to pierce the corporate veil in the financial remedy case of Akhmedova v Akhmedov (2018 EWFC 23 Fam). The judge considered it necessary to go against the long-standing legal principle, in response to Farkhad Akhmedov's 'continuing campaign to defeat his ex-wife by concealing his assets in a web of offshore companies', and issued orders to aid her enforcement of the judgment in the Isle of Man and Dubai FATTO

Currency repatriation requirements were extended on 14 April to cover loans issued by Russian residents to foreign borrowers, reducing the opportunities for businesses to shift funds abroad through non-repayable loans.

Trustees cannot simply brush aside beneficiaries' request for information

INTERNATIONAL - UK - Nearly 100,000 properties in England and Wales owned by foreign entities

INTERNATIONAL - ISRAEL: Tax authority launches new voluntary disclosure programme

SWISS BANKING: Sweden and the Netherlands demand names of Swiss Banks clients

INTERNATIONAL - GERMANY: Restriction of loss relief declared unconstitutional

INTERNATIONAL - UK: Doubts cast on non-dom reforms' commencement date

INTERNATIONAL - Cayman Islands: Beneficial ownership regime ready for launch

New Zealand to enact tighter foreign trust disclosure rules

The following are examples of what needs to be included in a proposal for sale or purchase and in a preliminary contract: - the precise description of the asset or assets; - the exact identification of the owner or owners and of the purchaser or purchasers; - the obligations of the vendor and of the purchaser; - the price of the sale and method of payment; - the conditions of the conveyance and relevant guarantees; - documentation of the history of the asset or assets; -

Joint ownership of assets is the property regime Italian law “automatically” assigns to partners in marriage, but allows the spouses to choose otherwise (such as the separation of assets or joint ownership by agreement).In summary, legal joint ownership means that, in principle, all assets acquired by the spouses during their marriage, even if formally in the name of one only of them, in reality belong to both. That means that in order to sell them, donate them, mortgage them or otherwise dispos

A company has a life of its own which is independent from that of its partners: it will go on living even after its partners die or it can be dissolved and wound up even if its partners are alive.All companies have a legal status and as such they have assets that are distinct from those of the partners that constitute the company. They have a name, a registered office and, hence are legal entities that are quite distinct from the individuals making up the company.They are non-personified col

The conveyance may rightly be considered the notarial transaction par excellence, considering all the actions the law imposes on the notary following settlement (to cite the more important ones: filing, cadastral registration, transcription, notification of the competent authorities specified by law etc.). It is the notary who writes the contract after having established the intentions of the parties and after having obtained all useful information and carried out all the necessary search

A joint-stock company must be set up through a public deed which must clearly indicate who the parties to the contract are. Such parties may be individuals but also legal entities (as for instance other joint-stock companies, partnerships, cooperatives or other bodies).The Memorandum of Association must indicate the Municipality in which the company has its registered office, which is where it operates, and the name of the company which must contain the wording “"società per azioni" or "s.p.

The limited liability company is intended for smaller companies than joint-stock companies, and the equity participation in the company has a personal connotation which is absent in the s.p.a.  In fact, it has a limited number of shareholders who are not personally responsible for the social security liabilities, even if they have acted in the name and on behalf of the company.The legislation in place as of 1 January 2004 has had a major impact on the limited liability company, which is an e

The Memorandum of Association must indicate the names of the unlimited partners. For all other aspects refer to the joint-stock company (please refer to the related paragraph).

In general, the winding up and liquidation of an s.a.s. is governed by the rules set forth for general partnerships, to which the reader is referred (please refer to the related paragraph).However, besides the causes of dissolution that are the same for an s.n.c., there is another cause that is exclusive of the s.a.s., namely when there is only one category of partners left.In fact, it is envisaged that the s.a.s. is to be dissolved when only limited partners or only unlimited partners remai

Limited partners are excluded, in principle, from managing the company.However, they may negotiate or conclude individual deals on behalf of the company, providing they have received a specific proxy or authorisation empowering them to do so.Each limited partner is responsible for social security liabilities in a degree that is proportionate to the contribution they made to the company. Accordingly he/she does not assume any other risks, except that of losing the value of the capital he/she

From the historic and regulatory point of view, the joint-stock company is the prototype of the company with share capital whose body of rules apply to the limited partnerships with share capital (s.a.p.a.), with which it is compatible, and in some respects they are very close to the rules that govern the limited liability company, which however makes little reference to the rules on joint-stock companies, which consequently do not directly apply. The joint-stock company (s.p.a.) differs fro

On the basis of the provisions in force as of 1 January 2004, the administration of joint-stock companies may be organised according to three separate models:  the traditional model, the monistic model (of Anglo-Saxon origin) and the two-tier model (of German origin).In the traditional model, the directors have the task of running the company, and are accordingly provided with the power of being pro-active i.e. promoting the decision-making activity of the meeting (power of initiative), of i

Consortiums are formed between entrepreneurs who decide to set up a common enterprise for regulating and carrying different phases of their respective businesses. The consortiums too are of a mutual character, since the consortium’s activity is carried out in the interest of its member enterprises. “Regulating” given steps of the members’ enterprises is a typical function of internal consortiums, and may be non-competitive in nature, while the “carrying out” of given steps in the respecti

In carrying out its business, the company can use distinctive features such as a name, sign-board and trademark.The name characterizes the entrepreneur in exercising the company’s business, the trademark identifies and distinguishes the goods and services produced by a company and the sign-board identifies the premises where the business is carried out.

The management of a company is the activity of running the corporate enterprise. The power of management is the power of carrying out any activity that falls within the scope of the corporate purpose.When the management of the company falls on more than one partner (all or some), and the partnership contract makes no provision on how the power of management is to be exercised, then the notion of  separate management shall apply:  each partner is a director, that is, he has the power of manag