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		<title>FATCA enacted in 2010 by the US Congress</title>
		<link>https://alosaimilaw.com/fatca-enacted-in-2010-by-the-us-congress/</link>
		
		<dc:creator><![CDATA[Meshari Al Osaimi Law Firm]]></dc:creator>
		<pubDate>Thu, 30 Oct 2014 05:26:28 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://alosaimilaw.com/?p=8556</guid>

					<description><![CDATA[<p>FATCA, enacted in 2010 by the US Congress, targets non-compliance by US taxpayers using foreign accounts and requires foreign financial institutions to report information about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest. We now have a dedicated legal team specialized in positioning clients [&#8230;]</p>
<p>The post <a href="https://alosaimilaw.com/fatca-enacted-in-2010-by-the-us-congress/">FATCA enacted in 2010 by the US Congress</a> appeared first on <a href="https://alosaimilaw.com">Meshari Al Osaimi</a>.</p>
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<p>FATCA, enacted in 2010 by the US Congress, targets non-compliance by US taxpayers using foreign accounts and requires foreign financial institutions to report information about financial accounts held by US taxpayers, or by foreign entities in which US taxpayers hold a substantial ownership interest. We now have a dedicated legal team specialized in positioning clients to understand, respond and comply with the complex US Foreign Account Tax Compliance Act (FATCA) requirements set out by the US government this year catering specifically to:</p>
<ul>
<li>High-net worth individuals in Kuwait</li>
<li>Family holding companies</li>
</ul>
<p>&nbsp;</p>
<p>We work closely with FATCA specialists and international legal experts Withers Worldwide and are now the best placed firm in the region to help clients navigate the compliance process effectively and efficiently.</p>
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<p>The post <a href="https://alosaimilaw.com/fatca-enacted-in-2010-by-the-us-congress/">FATCA enacted in 2010 by the US Congress</a> appeared first on <a href="https://alosaimilaw.com">Meshari Al Osaimi</a>.</p>
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		<title>Foreign ship detained in the country for debt owed to a company</title>
		<link>https://alosaimilaw.com/foreign-ship-detained-in-the-country-for-debt-owed-to-a-company/</link>
		
		<dc:creator><![CDATA[Meshari Al Osaimi Law Firm]]></dc:creator>
		<pubDate>Thu, 16 Sep 2010 05:42:00 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://alosaimilaw.com/?p=8560</guid>

					<description><![CDATA[<p>The judge of summary matters at the First Instance Court, Mr. Hesham Abdulla, ruled for imposing attachment on a foreign ship at one of Kuwait&#8217;s ports, as it is indebted to the company claiming attachment due to supplying the ship with fuel required to operate it at Colombo and Singapore ports, without paying the value [&#8230;]</p>
<p>The post <a href="https://alosaimilaw.com/foreign-ship-detained-in-the-country-for-debt-owed-to-a-company/">Foreign ship detained in the country for debt owed to a company</a> appeared first on <a href="https://alosaimilaw.com">Meshari Al Osaimi</a>.</p>
]]></description>
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<p>The judge of summary matters at the First Instance Court, Mr. Hesham Abdulla, ruled for imposing attachment on a foreign ship at one of Kuwait&#8217;s ports, as it is indebted to the company claiming attachment due to supplying the ship with fuel required to operate it at Colombo and Singapore ports, without paying the value of this fuel, provided the attachment is removed if a guarantee or bond agreed upon by the litigants is submitted. The attachment applicant was obliged to file a case within three days from the date of issue of the attachment permit, in preparation of obtaining an executive form. If the case is not filed in due time, the attachment shall be removed of the said ship.</p>
<p><b>Details :</b><br />
The incident is concluded in that the agent of the creditor company of the ship in Kuwait, lawyer Hassan Al Mousoi, submitted an application to impose attachement on the ship, to the judge of summary matters at the Court of First Instance, at the end of which he called for imposing attachment on the ship ( ), registered with the world Marine Organization, and on all equipments, fixtures, furniture, moveable properties thereon, excluding the personal effects of its crew, and to prevent it from departing Kuwaiti ports, in order to guarantee the repayment of the debt. This is based on the fact that the captain of the ship on which attachment is required to be imposed, has furnished in his capacity the ship with the quantities of fuel required to operate it at Colombo Port then Singapore Port. This is according to two supply receipts and invoices signed by representatives of the ship owners. The attachment application on the ship relied on the provision of paragraph 10 of article 73 of the decree law NO.28 of 1980 in connection with Kuwait marine trade law, which permits imposing attachment on a ship according to the order of the judge of summary matters. This attachment is not to be imposed unless for settlement of a maritime debt. Maritime debt means is claiming a right, the source of which is one of the following reasons, including the supply of products or tools required to operate or maintain the ship at any place where the supply took place.</p>
<p><b>Comment :</b><br />
Lawyer Hassan Al Mousoi, the agent of the detaining company, that although the decree law No.1980/28 promulgating the maritime trade law is relatively old, compared with the developments witnessed by commercial transactions in the field of maritime trade, with the help of God, we were able to apply and obtain from the judge of summary matters according to the provision of article 73 and other articles, which have done justice to the litigation parties, as stated in the above text when it pointed to the possibility of ending the dispute according to agreement between parties. This conforms with the proper law and practical reality of the volume of losses resulting from elongating the detention period, as well as the prompt reply of the general administration for execution for the necessity of finalizing the procedures within a very reasonable and suitable time for the case being handled.</p>
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<p>The post <a href="https://alosaimilaw.com/foreign-ship-detained-in-the-country-for-debt-owed-to-a-company/">Foreign ship detained in the country for debt owed to a company</a> appeared first on <a href="https://alosaimilaw.com">Meshari Al Osaimi</a>.</p>
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		<title>Lawyer Hussien Al-Ghareeb: MPs may not join the board of directors of companies</title>
		<link>https://alosaimilaw.com/lawyer-hussien-al-ghareeb-mps-may-not-join-the-board-of-directors-of-companies/</link>
		
		<dc:creator><![CDATA[Meshari Al Osaimi Law Firm]]></dc:creator>
		<pubDate>Mon, 18 Jan 2010 05:44:21 +0000</pubDate>
				<category><![CDATA[News]]></category>
		<guid isPermaLink="false">https://alosaimilaw.com/?p=8562</guid>

					<description><![CDATA[<p>Lawyer Hussien Al-Ghareeb has confirmed that the law prohibits members of the parliament to join the membership of the board of directors of companies, &#8220;but if the directorship preceded membership in the National Assembly, they may be combined, provided the MP is not re-appointed or elected in the company.&#8221; Al-Ghareeb said in a lecture on [&#8230;]</p>
<p>The post <a href="https://alosaimilaw.com/lawyer-hussien-al-ghareeb-mps-may-not-join-the-board-of-directors-of-companies/">Lawyer Hussien Al-Ghareeb: MPs may not join the board of directors of companies</a> appeared first on <a href="https://alosaimilaw.com">Meshari Al Osaimi</a>.</p>
]]></description>
										<content:encoded><![CDATA[<div id="story_subtitle">Lawyer Hussien Al-Ghareeb has confirmed that the law prohibits members of the parliament to join the membership of the board of directors of companies, &#8220;but if the directorship preceded membership in the National Assembly, they may be combined, provided the MP is not re-appointed or elected in the company.&#8221;</div>
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<p>Al-Ghareeb said in a lecture on the &#8220;role of the board of directors of joint stock companies from the perspective of the law&#8221;, that any shareholder in the company is entitled to file a case for the invalidity of the company general assembly if he was not informed of the date of holding it by the customary legal methods.&#8221;</p>
<p>The lecture addressed the legal organization of the general assembly and board of directors in joint stock companies, as per the Kuwaiti commercial companies law, and highlighted the most prominent practical problems facing the company shareholders in their relations with the board of directors and the Ministry of Commerce and Industry as a control authority, with an invitation to activate a number of legal provisions for the protection of the shareholders&#8217; funds, particularly the minority.</p>
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<p>The post <a href="https://alosaimilaw.com/lawyer-hussien-al-ghareeb-mps-may-not-join-the-board-of-directors-of-companies/">Lawyer Hussien Al-Ghareeb: MPs may not join the board of directors of companies</a> appeared first on <a href="https://alosaimilaw.com">Meshari Al Osaimi</a>.</p>
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