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TABLE OF CONTENTS

LEGISLATION
1. SPAIN
1.1 Tax / Insolvency
1.1.1 Reforms triggered by the economic crisis
1.2 Corporate
1.2.1 Law on reorganizations of corporations approved
1.3 Environmental
1.3.1 Remediation of environmental damage and mandatory financial security for environmental liability
1.4 Antitrust
1.4.1 National Antitrust Commission approves Communication on determination of penalties applicable to infringements of competition rules

2. PORTUGAL
2.1 Labor and Employment
2.1.1 New Portuguese Labor Code approved
2.2 Tax
2.2.1 Final wording of 2009 Budget Law approved
2.2.2 Supplementary budget program entitled “Initiative for Employment and Investment”
2.3 Real estate / Tax
2.3.1 Real estate and stamp taxes
2.3.2 Real estate used for residential lease purposes
2.3.3 Setting up and modifying self-service retail trade establishments under Decree-Law 21/2009

COURT CASES AND RULINGS

1. SPAIN
1.1 Tax / Corporate
1.1.1 Supreme Court questions deductibility of board member compensation for corporate income tax purposes
1.2 Tax
1.2.1 Permanent establishment: commissionaire and toll manufacturing agreements
1.3 Corporate
1.3.1 Restrictions on Professional Services Firms
1.4 Labor and Employment
1.4.1 Employers can acknowledge unjustified nature of dismissals up to date of oral hearing
1.4.2 Enterprises using temporary employment agencies are jointly and severally liable with agencies
1.4.3 Dismissal following repeated bouts of sick leave due to an illness concealed from employer is not void
1.5 Shipping
1.5.1 Fire on board and notification to insurers
1.5.2 20% interest rate under Insurance Contracts Law applies to maritime insurance
1.6 Antitrust
1.6.1 Supreme Court accepts pure no-win-no-fee arrangements as payment for lawyers although they do not cover their costs

2. PORTUGAL
2.1 Antitrust
2.1.1 Portuguese Antitrust Authority suspends promotional campaign
2.1.2 Portuguese Antitrust Authority fines professional association for exchanging consumer pricing information
2.2 IP/IT
2.2.1 Portuguese Supreme Court decision on unfair competition
2.2.2 Lisbon Court of Appeal rules on trademarks having a reputation

OTHER NEWS

1. SPAIN
1.1 Shipping
1.1.1 Extension of deadline for amendments to General Maritime Navigation Bill
1.2 Capital Markets
1.2.1 Circular on categorization of Collective Investment Schemes

EU NEWS

1. SPANISH CORPORATIONS LAW FOUND TO BE CONTRARY TO SECOND COMPANY LAW DIRECTIVE
2. RIGHT TO ENJOY VACATION IS NOT FORFEITED AT END OF LEAVE YEAR IN THE EVENT OF SICKNESS
3. DOUBLE TAXATION ALLOWED IN INHERITANCE TAXES

GARRIGUES IN THE NEWS

1. "GARRIGUES WINS DNA PATENT CASE IN SPAIN”
2. GARRIGUES WINS INTERNATIONAL RECOGNITION
3. GARRIGUES MAKES GLOBAL PROJECT FINANCE TOP TEN
4. MADRID 2016 SUBMITS ITS BID TO THE INTERNATIONAL OLYMPIC COMMITTEE
5. GARRIGUES OPENS NEW OFFICES IN MIAMI, TANGIERS AND LOGROÑO