Carey Olsen advises Sanctum FI LLP on launch of an Artificial Intelligence-powered investment fund FSHL aims to generate long-term capital growth through a diversified portfolio primarily consisting of equity securities and bonds. The investment strategy focuses on enhanced investment performance at low cost through evolving machine learning algorithms ...
In recent years, a growing number of construc- tion companies have established employee stock ownership plans (ESOPs).1 The interest in an ESOP is often generated by the need for an exit strat- egy for one or more of the owners of a closely held business, a common scenario in the construction industry ...
Carey Olsen advises Beijing Energy International Holding Co. Ltd on $40 million green bond issuance On 2 April 2024, Beijing Energy International successfully issued the bond, featuring a term of two years and a historically low coupon rate of 2.70%. The issuance was oversubscribed by 3.04 times ...
2024 By: Melody Mohammadi Since their inception, the Fédération Internationale de Football Association (“FIFA”) in 1904 and the Union of European Football Associations (“UEFA”) in 1955, football’s most important governing bodies, have aimed to promote fairness and act as representative democracies over arguably the most international sport to date ...
April 12, 2024 By: Charles Whiteman and Daniel C. Silva Friendship only goes so far, at least in the case of the Los Angeles Dodgers’ baseball superstar Shohei Ohtani (“Ohtani”), and his former interpreter and de facto personal manger, Ippei Mizuhara (“Mizuhara”). On April 11, 2024, the U.S ...
The Securities and Exchanges Commission (SEC) has announced a settled Administrative Proceeding with Senvest Management LLC (“Senvest”). Pursuant to the SEC issued Order, Senvest failed to maintain and preserve certain electronic communications and failed to enforce its code of ethics ...
The first quarter of 2024 was a busy time for regulatory action in the bank M&A space. Coming off a slow year for bank deal announcements in 2023, many bankers and bank advisors believed that 2024 would be a rebound year for bank combinations. Those expectations may be scaled back now that the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released proposed updates to their bank merger application rules and policies ...
Company restoration - British Virgin Islands In this guide, we explain how a company that was incorporated or registered in the British Virgin Islands (company) can be restored to the BVI register of companies (register). In short, there are two restoration processes: (1) arrange for the company to be administratively restored (administrative restoration); or (2) apply for the company to be restored by a court order (court restoration) ...
From optimizing revenue to refining strategy and decision-making and safeguarding data – AI's potential benefits for businesses and their management are enormous. However, businesses and their corporate fiduciaries face an immense Goldilocks problem: too little reliance on AI can leave a company behind its competitors and breach standards of care ...
On March 28, 2024, the Department of Finance Canada announced a one-year extension to the 15% Mineral Exploration Tax Credit (?METC?) available to investors in flow-through shares. The extension means that the METC will be effective until March 31, 2025. This announcement came at a time when uncertainty loomed over the industry and some stakeholders feared that the government would not renew the METC. Over time, this tax credit has become a key component of flow-through share financings ...
Carey Olsen advises Preservation Capital Partners on closing of latest fund at €459 million With the closure of PCP Fund II, Preservation Capital Partners now manages approximately €1 billion in assets across its three operational funds. The Carey Olsen team advising Preservation Capital Partners comprised partner Andrew Boyce, senior associate Rachel de la Haye and associates Oliver Orton and Nicola D'Amico ...
Pension-Linked Emergency Savings Accounts (“PLESAs”) are a special retirement plan feature created under SECURE ACT 2.0. PLESAs were first permitted to be made available to participants as of January 1, 2024. PLESAs, which provide a flexible savings opportunity for non-highly compensated employees, can be added to certain defined contribution plans. New guidance regarding this option has been released, which may be of interest to employers and plan sponsors ...
On April 1, 2024, the U.S. Citizenship and Immigration Services (“USCIS”) announced that its initial registration selection process, commonly known as the H-1B lottery, is complete. This means the USCIS has selected enough initial registrations to meet its numerical limit for both the standard H-1B cap and the advanced degree exemption, often referred to as the “master’s cap ...
In a move aimed at protecting Americans’ data security, President Joe Biden signed Executive Order 14117 on “Preventing Access to Americans’ Bulk Sensitive Data and United States Government-Related Data by Countries of Concern” (the “Order”) ...
I. Introduction and overview of the issues Many lawsuits involve both covered and uncovered losses. In nearly every state, if a complaint alleges both covered and uncovered claims, the insurer is obligated to defend the entire suit. E.g., Liberty Mut. Fire Ins. Co. v. Copart of Conn., Inc., 75 F.4th 522, 529 (5th Cir. 2023) (Texas law); Buss v. Superior Court, 16 Cal.4th 35, 48, 939 P.2d 766 (1997); General Agents Ins. Co. of America, Inc. v. Midwest Sporting Goods Co., 215 Ill ...
On December 4, 2023, New York City Mayor Eric Adams signed into law the New York City Council’s bill, Int 0569-2022 (the “City Law”). The bill, known as the “Workers’ Bill of Rights,” will require New York City employers to abide by certain notice and distribution requirements by July 1, 2024. The notice and distribution requirements will inform employees and independent contractors of their rights under federal, state, and local law ...
April 2, 2024 By: Leah Lively and Alexandra Shulman On June 6, 2024, new amendments to Washington State’s noncompetition statute (RCW 49.62) will go into effect, which place further limitations on the use of noncompetition agreements in Washington. Substitute Senate Bill 5935 introduces several modifications to RCW 49.62 that Washington employers (and employers with Washington employees) should be aware of: Broader definition of “noncompetition covenant ...
