The Gazette 1974

INTERNATIONAL BAR ASSOCIATION

SECTION ON BUSINESS LAW, LONDON

CONFERENCE, NOVEMBER 7 AND 8, 1973

In 1970 the International Bar Association formed its

first Section to cater for those of its members concerned

with international business problems. It now has over

1,400 members from all over the world, publishes its

own Journal and a Directory of its members. The first

meeting of the Section took p ace in Monte Carlo in

1972 and its second Conference in London on Novem-

ber 7 and 8. Over 200 Section members attended to-

gether with approximately 100 guests all of whom were

free to participate in the following Committee dis-

cussions :

Admiralty

and Maritime Law

(Chairman : Lennart

Hagbe.rg,

Sweden) where the principal matters con-

sidered were the results of two questionnaires sent out

to Committee members dealing with Arrest of Vessels

and Enforced Sales of Vessels, co-operation with the

Comité Maritime International and the United Nations

bodies concerned with shipping law.

Aeronautical Law

(Chairman : Dean Booth, U.S.A.)

which sponsored a two-day seminar on Multinational

Joint Ventures in New Aircraft Development from the

viewpoints of the airlines, manufacturers, lenders and

insurers. Over 100 lawyers were present at the seminar.

Antitrust Law and Monopolies

(Chairman : Arved

Deringer, Germany) which discussed reports on recent

developments in the E.E.C. countries and the extra-

territorial application of antitrust laws.

Procedures for Settling Disputes

(Chairman : Jean

Robert, France) which enquired into the enforcement

of foreign judgments, the serving of writs abroad and

ways of improving arbitration procedure.

Commercial

Banking

(Chairman: Bela Szathmary,

U.S.A.) which considered problems related to Inter-

national Loan Agreements. Four international lawyers,

Dr. Klaus Bólhoff, Dr. Pedro de Elizalde, James B.

Hurlock and Adrian Smart presented papers on this

subject and answered questions from the members. It

was decided that the Committee should now consider

the subjects of Bank affiliates abroad—restrictions from

at home and from the host Governments; liberalizing

the road towards an integrated international money

market and new types of "negotiable" instruments on

the international money market.

Environmental

Law

(Chairman : Keith Imlah, Eng-

land) which discussed the relations of this Committee

with other bodies, particularly the United Nations,

concerned with the protection of the environment. The

future work programme and structure of the Com-

mittee was also considered and it was agreed that the

subjects of oil pollution by ships and by-production

from the seabed should be given priority.

Business Organisations

(Chairman : John T. Subak,

U.S.A.) which discussed the role of a Director, Multi-

National Corporations and the European Company.

Insurance

(Chairman: F. Baron van der Feltz,

Netherlands). This Committee discussed a paper pre-

pared by Mr. F. Salomonson, Netherlands, on impor-

tant developments in Common Market Insurance Law.

Creditors' Rights, Insolvencies

and

Reorganisations

(Chairman : Joachim Kilger, Germany). This Com-

mittee arranged a two day meeting. On the first day it

considered the draft European Bankruptcy Convention

under the Chairmanship of Muir Hunter, Q.C., and on

the second Creditors' Rights and Insolvency Laws.

Members also reported on, amongst other matters,

changes in Creditors' Rights in their own countries.

Public Utilities

(Chairman : Philip Turner, England)

which gave preliminary consideration to the relationship

between governments and public utilities, fixing and

regulating consumer rates, the influence of private

capital on public utilities not publicly financed, the

law;, rules and regulations dealing with the use of

fossil fuel and nuclear energy in generating electric

current and whether, and to what extent, petroleum

resources should be brought into the public utilities

field and publicly owned. Mr. Yukinobu Ozaki also

presented a paper on Governmental Regulation over

electricity and city gas supplies in Japan.

Patent, Trademark

and Copyright

(Chairman : Gor-

don Henderson, Canada) whose agenda included the

proposed Trademark Registration Treaty and the effect

of the Vienna amendments to the proposed Treaty,

the Patent Co-operation Treaty and Erosion of In-

dustrial Property Rights.

Sales of Goods

(Chairman : Antonio Maria Pereira,

Portugal) which considered a draft document setting

out basic principles relating to General Terms and

Conditions applicable to International Sales Contracts.

Taxes

(Chairman : Jean-Claude Goldsmith, France)

which considered national reports on "Tax Treatment

of investments in developing countries". Mr. R. Lend '

reviewed the progress made since 1965 with regard to

the negotiation of multinational conventions with

developing countries and the question of "Branch

against Subsidiary" was also discussed.

Petroleum and Mineral Resources

(Chairman : Laszlo

Gombos, England). This Committee invited to address

them Roy Thomas Pleasance, F.C.A., Manager, Tax

Administration of British Petroleum Co. Ltd. and

Chairman of the U.K. Oil Taxation Committee on '

"The Taxation of Oil and Gas Production on the U.K.

Continental Shelf and the Mainland (including Terri-

torial Waters); F. L. Faust, Manager, Tax Administra-

tion, Gulf Oil, London on "Taxation of Oil and Gas

Production in the U.S.A. with special reference to the

Depletion Allowance and Foreign Tax Credits" and

Eli Lauterpacht, Q.C., Fellow of Trinity College,

and Lecturer in Law at the University of Cambridge

on "Co-operation between oil producing and oil con-

suming countries".

Issue and Trading in Securities

(Chairman : John

Gauntlett, England). This Committee has established

five sub-committees on Accounting Practices, Acquisi-

tions and Mergers, Extraterritorial Application of

Securities Laws, Rights of Minority Shareholders and

Stock Exchanges and all met during the Conference. In

the afternoon, Mr. Peter Lee, Secretary of the Panel

on Takeovers and Mergers in London, spoke on "The

City Code on Takeovers and Mergers".

International

Construction

Contracts

(Chairman

Jean B. Vadon, France) which discussed its work pro-

gramme and agreed to study the following topics :

(1) Damages, Limitation of liability and penalties.

(2) Force Majeure and acts of events beyond control.

(3) Performance guarantees.

(4) Monetary Clauses and price revision.

(5) Applicable Law and settlement of Disputes.