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In a legal Opinion handed down on 16 May 2017, the Court of Justice of the European Union (“CJEU”) declared that the free trade agreement signed between the EU and Singapore in June 2015 cannot be ratified without the approval of all 38 of the EU’s national and regional parliaments. Given the broad subject-matter of the agreement, including potentially controversial provisions regarding investor-State dispute settlement, might this decision spell the end of the EU’s fledgling…

In a decision of November 2016, the Higher Regional Court of Munich (Oberlandesgericht München; hereinafter the “Court”), clarified some general principles underlying a challenge of an arbitrator for lack of impartiality (Decision of 17 November 2016, 34 SchH 13/16, BeckRS 2016, 20169). The decision is part of a somewhat curious series of decisions by the Court in the same matter. The Facts In 2001, Claimant and Respondents had entered into a partnership under the German…

In many transactions, the target company’s financial statements either play an important or even a crucial role for the determination of the purchase price. As a result, a financial statements warranty is of utmost importance in most share purchase agreements. This article analyzes the consequences of a breach of the financial statements warranty under German law: how can the purchaser calculate its damages? At the outset of the analysis stands Section 249 German Civil Code…

The Comprehensive Economic and Trade Agreement (‘CETA’) between the European Union and Canada was signed October 30, 2016. The deepening of Canadian and European trade is likely to be significant in the wake of Brexit and the uncertain future of American trade policy. The Investment Court System (‘ICS’) of CETA has been hotly debated, and in 2016 threatened to derail the entire agreement when the local Parliament of Wallonia, Belgium initially vetoed the agreement. The…