Acquiring Land Rights in Mozambique

Acquiring Land Rights in Mozambique

Direito do Uso e Aproveitamento da Terra (DUAT)

There is no private ownership of land in Mozambique. Land and its associated resources are the property of the State. The Land Law, however, grants private persons the right to use and benefit from the land known as Direito do Uso e Aproveitamento da Terra (DUAT). Although the land itself cannot be sold, mortgaged or alienated in any way, buildings, infrastructure and improvements built on land may be mortgaged and sold.

Discussing the Director Risks Posed by a UK Subsidiary

By | The D&O Diary | August 22, 2014
Discussing the Director Risks Posed by a UK Subsidiary

In the modern international business, it is common practice to have subsidiaries spread across the globe. The local subsidiary poses many advantages; allowing the business to meet local compliance requirements; insulate the rest of the group from local risks; and efficiently structure the tax burden of the local operation.

Breaking Down the $16.65 Billion Bank of America Settlement

The Securities and Exchange Commission today announced a massive global settlement between Bank of America and the US Justice Department, other federal agencies (including the Securities and Exchange Commission, the Federal Housing Administration, and Ginnie Mae), and six states, to resolve claims connected to toxic residential mortgage-backed securities, collateralized debt obligations and an origination release on residential mortgage loans.

Bankruptcy Auctions 101

Bankruptcy Auctions 101

A recent bankruptcy auction of a Texas powerplant by Optim Energy LLC provided an important lesson for potential bidders at bankruptcy auctions and their representatives on the importance of developing a clear bidding strategy in advance of the auction, and making sure the representative understands both the bidding strategy and the scope of his or her authority at the auction sale.