Search Results for: International law

BY KEITH NUTHALL
THE BRITISH government’s golden share system, granting it control over any disposal or winding up of assets owned by the privatised British Airports Authority, breaks European Union law and should be reformed, an advocate general of the European Court of Justice has claimed.…

BY KEITH NUTHALL
THE BRITISH government is under pressure from the European Commission to reform its motor insurance legislation, so that compensation is paid to victims of property damage caused by stolen vehicles whose driver cannot be identified.

Brussels has sent a formal request to London requesting that UK legislation allows for such payments, claiming it has a duty to act under the European Union’s (EU) Second Motor Insurance Directive (84/5/EEC) and threatening legal action at the European Court of Justice if it does not.…

BY KEITH NUTHALL
THE EUROPEAN Commission has threatened Italy with legal action at the European Court of Justice over obstacles that Italian law creates for the parallel imports of cars from other European Union (EU) Member States. The Commission claims that Italy is breaking EU fair trading laws that stop national governments from unfairly protecting their own local companies against foreign EU businesses.…

BY KEITH NUTHALL
THE EUROPEAN Bank for Reconstruction and Development (EBRD) is planning to lend international private equity group Advent International Euro 10 million, to help it, and an associated consortium, buy 65 per cent of the Bulgarian Telecommunications Company (BTC), which is being privatised.…

BY KEITH NUTHALL
THE INTERNATIONAL trade in gold has “considerable vulnerability to being exploited for money laundering,” according to a report released by the world’s lead organisation in fighting the processing of dirty money, the Financial Action Task Force (FATF). This wing of the Organisation for Economic Cooperation and Development (OECD) has highlighted these problems in a recent report on Money Laundering Typologies.…

BY KEITH NUTHALL
BRAZILIAN steel producer V&M do Brazil has struck the largest deal to date under the Kyoto Protocol Clean Development Mechanism. It will see the steel maker selling five million tonnes of greenhouse gas reductions for Euro 15 million to an International Finance Corporation/Dutch government fund, the IFC-Netherlands Carbon Facility.…

BY MARK ROWE
THREE Belgian-owned dredgers detained for nearly seven months by Indonesian authorities for alleged illegal sand mining in the Riau islands, south of Singapore, have finally been released. Dredging International – the owner of the Lange Wapper – and Jan de Nul – the owner of the Vasco da Gama and Alexander Von Humboldt – are understood to have agreed to pay fines demanded by Indonesian authorities for the release of their dredgers.…

BY KEITH NUTHALL
THE INTERNATIONAL Financial Corporation has persuaded a band of top commercial banks to join it in investing in Russian oil giant Lukoil, so it can exploit the Karachaganak oil, gas, and condensate field. The banks involved are ABN-AMRO Bank, Bayerische Hypo- und Vereinsbank Aktiengesellschaft, Crédit Lyonnais, ING Bank, Natexis Banques Populaires, RZB-Austria, SG Investment Banking, and WestLB.…

BY MICHAEL FOX
TANKS and vessels are used to store a huge range of hazardous liquids. But if they leak either from a failure of the storage system or during handling, many can pose a major threat to the environment and to groundwater.…

Keith Nuthall
A CRIMINAL group based in the Lebanon is stealing multi-million dollar cargoes, the International Chamber of Commerce’s International Maritime Bureau (IMB) has warned. It has reported that the group is running at least two vessels off the eastern Mediterranean, north African, and west African coasts, which they use to divert cargoes from their agreed destination.…