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IUCAB Legal Working Group meets in Oslo

Members of the Legal Working Group (LWG) of IUCAB assembled in Oslo on 12th April 2013 at the offices of the Enterprise Federation of Norway, Virke. Virke represents over 16.500 businesses with more than 220.000 employees in Norway. Virka’s section for commercial agency firms is a Member of IUCAB and their President Mr. Ole Christian Bull and Legal Advisor Mr. Henrik Renner Fredriksen hosted the LWG Group Members.

The meeting was attended by:

  1. Mr. Larry Coltman, MAA Legal Advisor
  2. Mr. Edward Miller, MAA Legal Advisor
  3. Mrs. Patricia Keltner, APAC Legal Advisor
  4. Mrs. Sina Heller, CDH Legal Advisor
  5. Mr. Michael Svendsen, Legal Advisor of the Nordic Federation
  6. Mr. Carlo Tabellini, USARCI Legal Advisor
  7. Mr. Henrik Renner Fredriksen, Virka Legal Advisor
  8. Mr. Jaap van Till, Chairman.

The following items of the agenda were dealt with and given a follow up:

  • LWG to draft a recommendation on the valuation of an agency: the Member Association from the UK and Ireland, MAA, has requested information on this.
  • The LWG shall collect relevant data available in the other IUCAB countries and draft a recommendation to be submitted to the MAA for approval and then for publication and promotion towards UK accounting firms. The purpose is to achieve a certain level of predictability of the amount of the compensation under the English Regulations regarding the valuation applied by accounting firms;
  • the LWG discuss the structure and working of a IUCAB Model Contract for the purchase of an agency;
  • Mr. Henrik Renner Fredriksen did a highly interesting presentation on the case leading to the Judgment of the Norwegian Supreme Court of 20th December 2012 and which relates to jurisdiction issues;
  • Mr. Jaap van Till elaborated on the Judgment of the Dutch Supreme Court of 2nd November 2012 in which it has been confirmed for the first time that the calculation method of the indemnity as developed in German case law should be applied under Netherlands law. The Judgment is in line with the European Commission’s 1996 recommendation;
  • the IUCAB Legal Fact Sheet on the Implementation of Art. 17 of the Directive was checked and found to be still up to date and complete.

The next meeting of the LWG shall take place on Monday 7th October 2013.

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