Tag Archives: legal

EUR 4 million boost for African legal support – Articles

Germany’s development bank has provided a EUR 4 million grant to the African Legal Support Facility aimed at strengthening the hand of African countries when negotiating contracts with international investors.

The African Legal Support Facility (ALSF), which helps to level the legal advice playing field between African countries and international investors, has received a EUR 4 million boost in the form of a grant from KfW, the German development bank.

ALSF will use the funding to improve African nations’ legal capacity to negotiate contracts, with the aim of getting fairer deals from international companies and investors, including public-private partnerships, particularly in the natural resources and infrastructure sectors.

“The aim is to increase financial and…

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A giant on the Caribbean legal landscape – Stabroek News

Dear Editor,

Fenton Harcourt William Ramsahoye passed away on or about the 27th December, 2018 in Barbados at the age of 89. Being out of the jurisdiction at the time, one was not able to pay tribute to a man who was a giant on the Caribbean legal landscape and was held by the writer in awe and reverence over a period of 45 years.

The following words of tribute are now being proffered.

I always initiated our conversations whether on the phone or face to face by referring to him as “The Doctor, what surgery are you performing now?”. Those words were uttered out of a sense of respect for my elders and seniors; I could never bring myself to call him to his face Fenton.

My first encounter with the “Doctor” was in 1974 in a Courtroom in Guyana when I was a rookie Junior on the other side in a…

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South African court finds Mozambican ex-finance minister’s detention legal

FILE PHOTO: Mozambique’s former finance minister Manuel Chang appears in court during an extradition hearing in Johannesburg, South Africa, January 8, 2019. REUTERS/Shafiek Tassiem/File Photo

JOHANNESBURG (Reuters) – A South African judge ruled on Wednesday that the detention of Mozambique’s former finance minister Manuel Chang over $2 billion of fraudulent loans was legal.

Lawyers for Chang, who was arrested in South Africa on Dec. 29 and denies wrongdoing, argued in court on Tuesday that his detention on U.S. charges was illegal because a request for extradition had not yet been received.

Chang was in charge of Mozambique’s finances when it failed to disclose government guarantees for $2 billion in international borrowing by state-owned firms.

Judge Sagra Subrayen said in a Johannesburg…

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Royal Caribbean Cruises Ltd (NYSE:RCL) Shares Bought by Legal & General Group Plc

Legal & General Group Plc increased its stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 796,881 shares of the company’s stock after buying an additional 33,497 shares during the quarter. Legal & General Group Plc owned about 0.38% of Royal Caribbean Cruises worth $103,553,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smithfield Trust Co. raised its position in shares of Royal Caribbean Cruises by 235.3% during the 3rd quarter. Smithfield Trust Co. now owns 1,073 shares of the company’s stock worth…

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Guyana Government examining all legal options

The Guyana government will on Thursday be presented with “all the legal options” as it prepares to respond to a successful opposition inspired vote of no confidence that toppled it from power last weekend.

The David Granger administration has since appointed a sub-committee “to advise on this matter” following a meeting involving members of the Cabinet and the National Security Committee (NSC) on Monday.

A statement issued following the meeting that was chaired by President Granger said the Cabinet examined all of the legal and constitutional aspects of the vote in the National Assembly last Friday and agreed to the establishment of the sub-committee.

“The Sub-Committee will examine all the legal opinions available and report to Cabinet on Thursday, December 27…

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Malawi looks to legal marijuana weed farms to aid tobacco — Quartz Africa

Malawi is set to become the latest African country to legalize marijuana farming in a bid to boost its economy. It comes as its major foreign exchange earner tobacco, starts to see the impact of a decades-long global anti-smoking lobby led by organizations including the World Health Organization.

The country’s parliament has drafted a bill on legalizing industrial and medicinal hemp and is expected to be tabled with the national assembly soon.

Different stakeholders in the hemp industry have been calling on the government to speed up legislation on hemp farming so Malawi has an alternative forex earner apart from tobacco which currently accounts for 60% of forex earnings.

Tobacco sales have decreased over the years globally, as of July the world’s three biggest tobacco companies have each…

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