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The treatment of ongoing criminal cases for bounced cheques in the Emirate of Dubai
Afridi & Angell, January 2022

It is now common knowledge that after January 2, 2022, issuing a cheque that is dishonoured for the lack of funds is no longer going to be a criminal offence in the UAE (for a primer on the changes made to the law, clickHere). But what of ongoing complaints and criminal cases regarding cheques that were dishonoured prior to January 2? Circular No. (9) of 2021, issued by the Dubai Public Prosecution Department on 19 December 2021, helpfully clarifies how such cases are to be handled...

MAXIMUM PERMISSIBLE LIMITS FOR ATMOSPHERIC EMISSIONS FROM THERMOELECTRIC GENERATION ACTIVITIES ARE ADOPTED
Rodrigo, Elias & Medrano Abogados, January 2022

On October 30, 2021, Supreme Decree Nº 030-2021-MINAM ("DS030") was published in the Official Gazette "El Peruano", adopting Maximum Permissible Limits ("MPL") for atmospheric emissions from thermoelectric generation activities...

Treasury Issues Final Rule on COVID State Funds
Schwabe, Williamson & Wyatt, January 2022

On January 6, 2022, the U.S. Department of the Treasury issued a final rule on the use of Coronavirus State & Local Fiscal Recovery Funds (SLFRF) provided to state, local, and tribal governments pursuant to the American Rescue Plan (ARP). While the final rule largely includes the eligible uses of SLFRF funds described in the interim rule issued in May of 2021, the Treasury expanded and provided more detail on eligible uses...

Chilean Financial Market Commission Opens Public Consultation on Authorization of Existence of Special Stock Corporations and initiation of operations…
Carey, January 2022

On January 3rd, 2022, the Chilean Financial Market Commission (FMC) opened a public consultation process (the "Regulatory Proposal") on new regulations regarding the procedure to authorize the existence of certain special stock corporations (SSCs) and to authorize the commencement of operations of general fund managers (GFMs)...

Insolvency in Scotland: Back to Basics – Part 2, Sequestration (Bankruptcy)
Shoosmiths LLP, January 2022

This is the second article in 'Back to Basics', a series of articles looking at insolvency processes in Scotland. This article will examine the court process for sequestration, focusing on petitions by creditors. Sequestration is the Scottish legal term for personal bankruptcy...

Transition plans: key to businesses achieving net zero
Shepherd and Wedderburn LLP, January 2022

 How will the UK become a Net Zero-aligned Financial Centre? Last month, the UK Government announced that the UK was to be the world’s first Net Zero-aligned Financial Centre. The Institute for Government defines “net zero” as “a balance between the amount of greenhouse gas emissions produced and the amount removed from the atmosphere”...

End of Transition Period for SBA Size Standard Calculation
Schwabe, Williamson & Wyatt, January 2022

This is a reminder that as of January 6, 2022, the Small Business Administration is requiring all small businesses to use a five-year period of measurement in determining their size under a revenue-based size standard. On January 6, 2020, the SBA published its final rule providing for a five-year period of measurement for determining a small business’s size under revenue-based size standards...

Oregon Supreme Court Holds Hydroelectric Water Rights Case
Schwabe, Williamson & Wyatt, January 2022

The Oregon Supreme Court recently reversed a decision of the Oregon Court of Appeals and determined that the lease of a vested hydroelectric water right to the state for instream uses did not qualify as the “use of water under a hydroelectric water right” under Oregon Revised Statute 543A.305(3). WaterWatch v. Oregon Water Resources Department, 369 Or. 71 (2021) (hereafter referred to as Warm Springs Hydro, after intervenor respondent Warm Springs Hydro LLC)...

Oregon Supreme Court Holds Hydroelectric Water Rights Automatically Convert to Permanent Instream Water Rights after Five Years of Nonuse for Hydroelectric Purposes
Schwabe, Williamson & Wyatt, January 2022

The Oregon Supreme Court recently reversed a decision of the Oregon Court of Appeals and determined that the lease of a vested hydroelectric water right to the state for instream uses did not qualify as the “use of water under a hydroelectric water right” under Oregon Revised Statute 543A.305(3). WaterWatch v. Oregon Water Resources Department, 369 Or. 71 (2021) (hereafter referred to as Warm Springs Hydro, after intervenor respondent Warm Springs Hydro LLC)...

Oregon Supreme Court Holds Hydroelectric Water Rights Automatically Convert to Permanent Instream Water Rights after Five Years of Nonuse for Hydroelectric Purposes
Schwabe, Williamson & Wyatt, January 2022

The Oregon Supreme Court recently reversed a decision of the Oregon Court of Appeals and determined that the lease of a vested hydroelectric water right to the state for instream uses did not qualify as the “use of water under a hydroelectric water right” under Oregon Revised Statute 543A.305(3). WaterWatch v. Oregon Water Resources Department, 369 Or. 71 (2021) (hereafter referred to as Warm Springs Hydro, after intervenor respondent Warm Springs Hydro LLC)...

Chilean Financial Market Commission Opens Public Consultation on Regulation of Fees on Money Lending Operations
Carey, January 2022

In compliance with the mandate set forth in Article 19 ter of Law No. 18,010 (the "Money Lending Operations Act"), incorporated therein by Law No. 21...

Eligible Uses of CARES Act Funds for Compliance and Management Expenses in 2022
Schwabe, Williamson & Wyatt, January 2022

Although the deadline for “incurring” CARES Act funds has passed, Alaska Native Corporations can still use CARES Act funds to pay for administrative and compliance related expenditures in 2022, including staff time spent administrating programs and CARES Act expenses incurred by December 31, 2022. According to U.S...

Chilean Competition Agency Files First Interlocking Lawsuit
Carey, January 2022

On December 27, 2021, the Chilean Competition Agency, Fiscalía Nacional Económica (“FNE”), filed the first lawsuit with the Chilean Competition Court, Tribunal de Defensa de la Libre Competencia (“TDLC”), for an infringement of the horizontal interlocking prohibition established in Law Decree No. 211 of 1973 (“DL 211”), against Mr. Hernán Büchi, Banco de Chile, Consorcio Financiero S.A...

Courts Begin Interpreting New Due Diligence Requirements For Trustees Before Filing Preference Actions, Pratt's Journal of Bankruptcy Law
Hunton Andrews Kurth LLP, January 2022

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Courts Begin Interpreting New Due Diligence Requirements For Trustees Before Filing Preference Actions, Pratt's Journal of Bankruptcy Law
Hunton Andrews Kurth LLP, January 2022

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Courts Begin Interpreting New Due Diligence Requirements For Trustees Before Filing Preference Actions, Pratt's Journal of Bankruptcy Law
Hunton Andrews Kurth LLP, January 2022

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Louisiana, Oil & Gas, Natural Resources & Energy Journal
Hunton Andrews Kurth LLP, December 2021

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Leveraging Fintechs and Big Data in a Fair Lending Focused 2022
Bradley Arant Boult Cummings LLP, December 2021

[!<CDATA[ Over the past decade, financial technology companies (fintechs) have been on the rise, disrupting all segments of the financial industry. Their innovative technology, swift adaptation to market trends, and ability to create personalized and efficient customer experiences enabled them to reshape the way we look at, use, and provide financial services...

New California Court of Appeal Decision Upholds Decisions Made By County Retirement System During Great Recession
Hanson Bridgett LLP, December 2021

After more than a decade of litigation, three appeals, and a two week bench trial, the Fifth District Court of Appeal (“DCA”) rejected claims by three retired members of a retirement system that a retirement board breached its fiduciary duties of loyalty and prudence to the retirement system’s members...

Green Gold: Hands Off My Trees
Dykema, December 2021

Trees are ubiquitous. They are a natural part of our landscape and valued for the beauty they provide (not to mention the environmental benefits) as well as their lumber and economic value. Landowners often value their trees, but when a landowner needs to remove trees for development tensions can arise between the government’s interest in preserving and protecting the environment and the landowner’s inherent property rights...

Changes Coming to Phase I Environmental Site Assessments
Buchalter, December 2021

December 22, 2021 By: John Epperson Commercial real estate (CRE) professionals are well aware that a Phase I Environmental Site Assessment (ESA) is required when acquiring commercial property...

Year in Review 2021: Banking and Finance
Simonsen Vogt Wiig AS, December 2021

We have in 2021 seen a remarkable (continued) recovery in the Norwegian financial market. This is also evident from the perspective of our banking and financing team. We have assisted our clients with a considerable number of new financings and refinancings, across most sectors.  It has especially been hectic within the shipping, aviation and renewable energy sectors and we have seen a steep increase within acquisition financing...

NMLS Transition Update for Existing California Financing Law Licensees: CA DFPI has Extended the Deadline for Submitting Company (MU1) and Covered Person (MU2) Transition Applications to March 15, 2022
Buchalter, December 2021

December 17, 2021 By: Melissa Richards Earlier this year, we reported that the California Department of Financial Protection and Innovation (CA DFPI) published new regulations requiring all existing commercial lenders and brokers licensed under the California Financing Law (CFL) to transition their licenses over to the Nationwide Multistate Licensing System (NMLS) electronic portal by December 31, 2021...

Environmental claims on goods and services – time is running out
Shoosmiths LLP, December 2021

Following the publication of its guidance on environmental claims in September 2021, the Competition & Markets Authority (CMA) will start reviewing potentially misleading claims in January 2022. Enforcement action may follow if claims breach consumer law...

Shearn Delamore & Co. Legal Updates December 2021 (1)
Shearn Delamore & Co., December 2021

Financial Services   Climate risk — progress of Joint Committee on Climate Change In a joint statement, Bank Negara Malaysia (“BNM”) and Securities Commission Malaysia announced on 10 December 2021 the following: the Joint Committee on Climate Change (“JC3”) will issue a Reference Guide on Climate Risk Management and Scenario Analysis, which sets out expectations for financial institutions to integrate climate-related risks considerations in finan

 

 

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