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Practice Industry: Dispute Resolution, Financial Services

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Do I Need to Disclose my Assets on Divorce?
Shoosmiths LLP, January 2021

The short answer is yes. Each of the parties to a divorce are under a duty to provide full, frank and clear disclosure of their financial circumstances. However, there are some circumstances where parties can, rightly or wrongly, get around this rule...

Family Resources on Divorce
Shoosmiths LLP, January 2021

It is not uncommon to find parents continuing to pay an allowance to their children into adulthood, and in some cases this support continues post-marriage and can include payment of school fees or other financial provision being paid on a regular basis...

Bankruptcy Moratorium Expiration: The Supreme Court of the Russian Federation Clarifies a Number of Key Issues
ALRUD Law Firm, January 2021

On January 7th 2021, the bankruptcy moratorium, which had been in effect since April last year, expired. The main conditions of the bankruptcy moratorium were described earlier in details: in newsletters “Moratorium on bankruptcy proceedings”and 'Russian bankruptcy moratorium extended until January, 2021”...

California Proposes Significant Change to Limit Use of Short-Form Proposition 65 Warning For Consumer Products
Hanson Bridgett LLP, January 2021

Article PDFJust when businesses thought they had figured out their Proposition 65 compliance strategies, the State of California, through the Office of Environmental Health Hazard Assessment (OEHHA), has proposed a substantial change that will drastically limit the use of the short-form safe harbor warning first authorized in 2018...

DOJ Stats Show Dip in Fraud Recoveries in ’20, but Signs Point to Impending Rise in False Claims Act Litigation
Dinsmore & Shohl LLP, January 2021

The U.S. Department of Justice (DOJ) has just released its annual statistical overview[1] of False Claims Act (FCA) and other fraud actions for Fiscal Year 2020 (FY2020)[2], and the numbers tell a mixed story. The total of just over $2.2 billion in settlements and judgments represents a decline of more than one-quarter in recoveries from FY2019,[3] likely reflecting workforce, logistical, and judicial impacts of the COVID-19 pandemic...

Intellectual Property, Certainty and The New How: IP Fixed
Shoosmiths LLP, January 2021

David Hume, the 18th century Scottish philosopher, argued that we cannot be certain the sun will rise tomorrow.  Over the past nine-months David Hume has never seemed more right. It has been a tough period, professionally and personally for people from all walks of life, and for businesses from nearly every sector. But, while there has been adversity, there have been many rays of sunlight and causes for optimism...

UK Mid-Market Finance: Our Predictions for 2021
Shoosmiths LLP, January 2021

This article looks at trends, including the response to COVID-19, which we expect to impact the mid-market in 2021. Last year we gave COVID-19 a quick mention in our ‘look at the year ahead’. Nobody foresaw the impact it would have. As the market enters a new year, there remains the uncertainty that we’ve grown familiar with...

Subsidy Control to Replace State Aid
Shoosmiths LLP, January 2021

The EU-UK Trade and Cooperation Agreement has effectively brought an end to state aid and a new regime of subsidy control has come into effect...

2021 Predictions: Restructuring and Insolvency
Shoosmiths LLP, January 2021

There were big changes in 2020 in the world of restructuring and insolvency legislation with the introduction of two new restructuring tools: the Moratorium and the Restructuring Plan, as well as the reintroduction of Crown preference. However, due to the government-imposed moratorium while the pandemic runs its course, we have seen hardly any real effects of those reforms...

Brexit and MedTech, Part 1: Research and Development
Shoosmiths LLP, January 2021

This is the first in our series of articles in which we will look at how Brexit and the EU-UK trade deal impacts research and development. In July 2020, the Government published its Research and Development Roadmap, which sets out the UK’s ambitious long-term objectives for investment in science and research to deliver economic growth and societal benefits across the UK...

Ohio Court: Injured Workers Cannot Reject Valid Light-Duty Offers Made in Good Faith
Dinsmore & Shohl LLP, January 2021

In the state of Ohio, a light-duty job offer is a strategic way to either bring an injured worker back to the workforce or bar temporary total compensation, should the injured worker reject a valid offer. Either way, it can aid employers in eliminating, minimizing, and/or stopping temporary total disability compensation from being paid in a claim...

The Basics: Funding Options for Divorce
Shoosmiths LLP, January 2021

Funding legal fees can be a worry and add to the pressure at an already stressful time. Accessing funds for legal fees may be difficult if assets are tied up, or income streams are for whatever reason inaccessible. We know that this can often lead to people going it alone and losing out on much needed expert advice; a decision that can have long lasting and costly implications. We recommend you consider the following options before deciding to go it alone...

Winding-Up a Company: It Now Takes More to Wind-Up a Company, in the Same Amount of Time
Shearn Delamore & Co., January 2021

BackgroundSection 466(1)(a) of the Companies Act 2016 (“CA 2016”) provides that a company is deemed unable to pay its debts if it is indebted in a sum exceeding an amount prescribed and neglects to pay the sums stipulated in the notice of demand within 21 days of being served with the said notice.Through the issuance of the Prescription of Amount of Indebtedness of Company published on 26 January 2017 (“2017 Threshold Order”), this amount was fixed at RM10,000...

Covid-19: Further Relief for Contractual Parties through an Extension of Part II of the Covid-19 Act
Shearn Delamore & Co., January 2021

BackgroundOn 23 October 2020, the Malaysian government gazetted the Temporary Measures for Reducing the Impact of Coronavirus Disease 2019 (Covid-19) Act 2020 (“Covid-19 Act”). This Act, as evident from its name, is meant to provide temporary measures to ease the impact of Covid-19 on various sectors and industries in Malaysia. Areas addressed by the Covid-19 Act include inability to perform contracts, insolvency and limitation periods...

2021 Predictions: What’s on the Horizon for Construction?
Shoosmiths LLP, January 2021

The outlook for the year ahead is uncertain with the effects of post-Brexit rules to contend with and COVID-19 continuing to restrict the way we live and work. We look at what the year may have in store for the construction industry. COVID-19 There is no doubt that the pandemic has caused challenges for the construction industry and is likely to have a significant impact into 2021...

Is the COVID-19 Vaccination in a Child’s Best Interest?
Shoosmiths LLP, January 2021

If parents cannot agree whether their children should be vaccinated, they can make an application under Section 8 of the Children Act 1989 to ask a judge to determine the issue. In M v H (Private Law Vaccination) [2020],  the mother objected to the parties' two children aged six-years-old and four-years-old  being given routine childhood vaccines in accordance with the NHS vaccination schedule...

A Proxy Season and Annual Report Guide to 2021
Dinsmore & Shohl LLP, January 2021

This is a summary of the Annual Report. Click here to access the full guide. The 2020 proxy season shareholder proposals were already submitted before the COVID-19 shadow loomed large over the season; however, such shadow likely impacted how shareholders voted on the proposals themselves, impacted business throughout 2020, and continues to jolt 2021 and the forthcoming 2021 proxy season...

Capacity and Lockdown Part 3.0
Shoosmiths LLP, January 2021

The Court of Protection is a specialist Court, focussing solely on supporting vulnerable individuals. This past year has acutely highlighted the needs of those most vulnerable in our society and their dependency on others to help manage their affairs. The Court has had to adjust its practices in order to ensure that help and solutions are found for those lacking capacity with minimal delay...

Kuantan Port Consortium Sdn Bhd v MT HE XIE HAO v Chem-Specialties Sdn Bhd (Suit No. WA-27NCC-77-10/2019)
Shearn Delamore & Co., January 2021

In an admiralty action, can an intervener, not being the proper defendant, apply to set aside a warrant of arrest of a vessel on non-traditional grounds. The traditional grounds of setting aside warrant of arrest are, inter alia: in excess or lack of jurisdiction...

Proof by Sampling in Construction Cases
Shoosmiths LLP, January 2021

How does one resolve a dispute involving thousands of individual items where it is impractical to deal separately with each one? A recent decision in the Technology and Construction Court provides some guidance - but raises further questions. The case is Standard Life Assurance Limited v Gleeds (UK)(a firm) and Others (December 2020, TCC). Standard Life had engaged Costain as its main contractor for the development of a large residential and retail development in Berkshire...

Finding Teeth in Massachusetts' Prompt Payment Act
Verrill, January 2021

In Tocci v. IRIV Partners, LLC, Boston Harbor Industrial Development LLC and Hudson Insurance Co. (November 19, 2020, Sup. Ct. 19-405), the Massachusetts Superior Court granted summary judgment on a contractor’s breach of contract claim based on Massachusetts’ Prompt Payment Act, M. G. L. c. 149 § 29E (the “Prompt Pay Act” or “Act”)...

The Regulatory Sprint is Over - What’s at the Finish Line Under the New Stark and AKS Final Rules?
Verrill, January 2021

The U.S. Department of Health and Human Services (HHS) completed its “Regulatory Sprint” by finalizing changes to regulations pertaining to two federal fraud and abuse laws. On December 2, 2020, the Centers for Medicare & Medicaid Services (CMS) published a final rule revising regulations to the Stark Law. The Stark Final Rule adds, modifies and clarifies key definitions and exceptions...

Power to the Contract
TSMP Law Corporation, January 2021

A recent court of appeal decision has definitively clarified the test for assessing the enforceability of liquidated damages clauses in Singapore. Contracting parties intending to incorporate liquidated damages clauses must be mindful of the type of damages that may be recovered in the event of default, especially when exercising a contractual right to terminate the contract...

Year in Review: Financial Regulation
Simonsen Vogt Wiig AS, January 2021

General Since the European System of Financial Supervision (ESFS) was introduced in 2010, several legislative acts have been adopted in the EU without being incorporated into the EEA-agreement.  This is mainly due to Norwegian constitutional issues. These constitutional issues were resolved in 2018, and as result, a huge backlog of EU legislative acts needs to be incorporated into the EEA-agreement and transposed into Norwegian law...

New York Enacts a Moratorium on COVID-19-Related Residential Evictions and Foreclosures
Bradley Arant Boult Cummings LLP, January 2021

On December 28, 2020, New York passed a new law entitled the “COVID-19 Emergency Eviction and Foreclosure Prevention Act of 2020.” The act places a moratorium on COVID-19-related residential real property mortgage foreclosure actions and residential eviction proceedings until May 1, 2021, where a tenant or homeowner has submitted a “hardship declaration” to the foreclosing party, landlord, and/or the court...

 

 

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