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GLOSSARY
In legal practice, a curator is a person appointed by a court to manage, protect or represent the interests of someone who cannot do so themselves, typically because of age, mental incapacity or absence. The term is most closely associated with Scots law, where a curator (including a curator bonis or curator ad litem) historically managed the property or conducted litigation on behalf of a person lacking capacity, such as a child or an adult with a mental disorder. Modern Scots legislation, including the Adults with Incapacity (Scotland) Act 2000, has largely replaced many curator roles with guardians and financial or welfare attorneys, but the concept still appears in case law and some procedures. In England and Wales, Northern Ireland and Ireland, the functions are performed by roles such as deputy, attorney, guardian, controller or litigation friend, and the term “curator” is rarely used in current statute or rules of court. However, practitioners may still encounter “curator” in older authorities, cross‑border matters, historic trusts and succession cases, and comparative discussions of protective measures for vulnerable persons.
PRACTICE NOTES
This table summarises all completed investigations by Curaçao’s competition authority (the Fair Trade Authority—FTAC) investigations into alleged cartels, anti-competitive agreements and abuses of dominant positions since 2019. Note—only investigations that have been made public are included in this table. 2020 Investigations under Article 3.1 of the National Ordinance on Competition Case name, companies under investigation and industry Issues Developments
NEWS
Law360, London: CureVac SE has fended off a challenge from BioNTech SE of its mRNA therapy patent at the European Patent Office (EPO), paving the way for CureVac to forge ahead with litigation in the companies' home country of Germany accusing BioNTech of infringing its invention.
GLOSSARY
This unit is used to measure the intensity of radioactivity in a sample of material. The Curie is equal to 37 billion (3.7 x 1010) disintegrations per second, which is approximately the activity of 1 gram of radium. A curie is also a quantity of any radionuclide that decays at a rate of 37 billion disintegrations per second. It is named after Marie and Pierre Curie, who discovered radium in 1898.
GLOSSARY
Money, often foreign money, which is sometimes used as a subject for investment.
PRECEDENTS
1 Currency exchange risk clause 1.1 The currency conversion rate to be applied in respect of the Charges under this Agreement shall be the exchange rate of [[insert name of foreign-exchange market] OR [insert name of bank] as it is published on its website OR the relevant mid-spot rate for the alternative currency quoted by the Financial Times] applicable [on the date of [the Agreement] OR the [invoice] OR [payment] OR at the close of business on the last calendar month during which the [Goods]
GLOSSARY
The elimination or reduction of the impact of exchange rate movements on foreign currency holdings, typically by the use of forward currency contracts.
PRACTICE NOTES
One consequence of the international nature of arbitration is the variety of currencies with which parties and tribunals have to deal, often in the same proceedings, where claims may be made (and are often awarded) in a multitude of currencies. Importance of currency Determining the currency in which the award will be made may be one of the first issues a tribunal may have to face, and sometimes one of the most difficult (usually as a result of currency fluctuations), that can mean the difference between an award worth a relative pittance or a relative fortune. The problem is regularly exacerbated by the long periods that elapse between the loss being suffered, the proceedings commenced and the award (if any) made in favour of the injured party. When currencies fluctuate, the result could be an unexpected penalty or an unforeseen windfall. And whichever way the currency in question moves, one party is going to win and the other is going to suffer. Note also that not all currencies are freely usable or convertible and this also can cause problems. English
PRACTICE NOTES
One consequence of the international nature of arbitration is the variety of currencies with which parties and tribunals have to deal, often in the same proceedings, where claims may be made (and are often awarded) in various currencies. For more general information about currency in arbitration, see Practice Note: Currency in arbitration. Currency in International Centre for Settlement of Investment Disputes (ICSID) arbitration proceedings Arbitral tribunals in investment arbitrations often have to deal with choice of currency issues, mainly in relation to the fluctuations of the host state’s currency in which the investment was made and damages suffered and/or the non-exchangeable nature of certain currencies. The following cases give examples of how the tribunals in International Centre for Settlement of Investment Disputes (ICSID) arbitrations have dealt with these issues. In Siemens AG v Argentine Republic (ICSID Case No ARB/02/8), the tribunal ruled that compensation should be ordered in US Dollars, and not the currency of the contract, which was Argentine pesos. It was argued that the contract did not
PRACTICE NOTES
Step-by-step guide • Party A and Party B enter into an International Swaps and Derivatives Association (ISDA) Master Agreement, Schedule and confirm with each other that they will document their currency rate swap (CRS) • Assume the initial exchange amounts of the CRS is USD 100 and €90 • Assume that payment is due quarterly (it could be annually, quarterly, monthly
GLOSSARY
The risk of incurring losses in the value of overseas investments as a result of movements in international exchange rates. Can also refer to the additional volatility caused by exposure to assets in foreign currencies.
GLOSSARY
A department of NISPI dealing with Scheme Cessation.