Introduction Despite the existence of an arbitration agreement, a party’s right to arbitrate may be waived due to its subsequent conduct. These conducts vary from jurisdiction to jurisdiction. While the most common ground is a party’s participation in a court proceeding in relation to the same matter, a party’s failure to pay the arbitration fee...Read More
Watching TV, you came to know of a lucrative business. This business would bring you more money if you do it in your individual capacity or through your family company. Do you think you can take this opportunity even if the opportunity falls within the company’s (that you serve as a director) business objective? Here...Read More
Introduction Fintech is a combination of the terms “financial” and “technology” used to describe a new technology that seeks to improve and automate the delivery and use of financial services. It refers to the integration of technology offerings by financial service companies in order to improve their use and delivery to consumers. Its applications extend...Read More
A capitalizing reserve is one of the mechanisms of increasing capital in share companies. In simple terms, it is the conversion of the reserves of the companies into shares (equity). But if no new money is not injected into the company, how can we say that it is a means to increase the capital of...Read More
Introduction On September 15, 2022, the National Bank of Ethiopia issued Directive No. SIB 57/2022 on Minimum Paid-up Capital for Insurance Company (the Directive) which replaces Minimum Paid-up capital for Insurers Directive Number 34/2013. Increased Minimum Paid-up Capital RequirementGeneral Insurance License A general insurance license now requires 400 million birr as the minimum paid-up...Read More
Introduction A new directive has been issued by the National Bank of Ethiopia which establishes the conditions, limitations, and circumstances under which an Ethiopian, a resident of Ethiopia, a non-resident of Ethiopia, or any other person may possess and use foreign currency. Following the publication of this new directive, the Limits on Birr and Foreign...Read More
Case Summary This post summarizes a Federal Supreme Courts Cassation Bench’s Decision File No. 200687 between Ayka Addis Garment Investment Group PLC v. Ibrahim Aydogedu concerning the validity of the termination of a foreign employee’s contract of employment for a definite period that had been getting renewed for several years. Genesis Ibrahim Aydogedu, a foreign...Read More
Case Summary This post summarizes a Cassation Bench Decision File No.177968 between Nazareth and Arsi Soap Factory PLC, and Nazrawi (Niger) Oil PLC vs. W/ro Yeshi Alemayehu and others regarding the registration of members that acquired shares in a company through succession. Genesis The two PLCs (Nazareth and Arsi Soap Factory PLC, and Nazrawi (Niger)...Read More
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