On July 3, 2024, Law No. 21.680, which creates a Consolidated Debt Registry (hereinafter referred to as the "Law"), was published in the Official Gazette. This Law aims to centralize information on financial debts, thus improving the credit evaluation of individuals and providing more data to the Financial Market Commission (CMF) for its regulatory functions ...
The Supreme Court has decided that most collateral warranties will not be construction contracts and unanimously allowed the appeal of the Court of Appeal decision in Abbey Healthcare (Mill Hill) Limited v Simply Construct (UK) LLP [2022]. Background Under s.108 of the Housing Grants, Construction & Regeneration Act 1996 (Construction Act), parties to a construction contract have a right to refer disputes arising under those contracts to adjudication ...
Carey Olsen advises Rosebank Industries on application to trade on London Stock Exchange The Rosebank co-founders are previous leading members of the senior management team of Melrose Industries plc ("Melrose") and intend to recreate the same successful ‘Buy, Improve, Sell’ business model which they pursued at Melrose ...
A recent appeal case upheld a breach of contract claim over a lifetime rail travel benefit delivered by a third-party provider. We examine the case and how employers can avoid such disputes through clear terms and conditions for employee benefit schemes ...
Continuing the series on protected characteristics under the Equality Act 2010 we focus on gender reassignment and the need for employers to understand the legal protections and the potential consequences of failing to comply with them. What is gender reassignment? A somewhat misunderstood protected characteristic, gender reassignment protects those who are either proposing to undergo, are undergoing or have undergone a process designed to change their sex ...
On July 5, 2024, the Financial Market Commission (“CMF”) updated its "Frequently Asked Questions" document related to General Rule No. 502 (“NCG 502”). The NCG 502 regulates the registration, authorization, and obligations of financial service providers under Law No. 21.521, known as the "Fintech Law ...
On July 3, 2024, the Financial Market Commission ("FMC"), and after a public consultation process, the FMC published its General Rule No. 514 (the “NCG 514”) that regulates the Open Finance System established by Law No. 21,521 ("Fintech Law") ...
As previously reported, on April 24, the Federal Trade Commission passed a Final Rule that would render almost all non-compete agreements with workers unlawful, effective September 4, 2024. However, a recent decision from the Northern District of Texas blocked enforcement of that Rule for a short list of litigants and casts doubt on the Rule’s enforcement in the future ...
Roskomnadzor (Russian Data Protection Authority) plans to make it easier for personal data subjects to revoke consent to the processing of personal data Roskomnadzor proposes making it possible to ****revoke consent**** to the processing of personal data “in one click” ...
The methods employed by criminals to transfer and conceal proceeds of crime on a global scale are becoming increasingly sophisticated, making effective mutual legal assistance in criminal matters crucial for cross-border asset recovery ...
In this article we look at some of the key factors that influenced deal term trends through analysing the many transactions Shoosmiths advised on over the last year. For the third successive year Shoosmiths remained the UK’s most active law firm advising on mergers and acquisitions (according to Experian MarketIQ), acting on over 400 deals worth over £7bn in 2023 ...
The Supreme Court has overturned the Chevron Doctrine–a four decade-old ruling that enabled Federal agencies, including the Internal Revenue Service (“IRS”), to interpret ambiguous laws passed by Congress, and to have such interpretations enjoy a significant degree of deference ...
Shoosmiths brings together leading developers, asset managers and investors, as well as energy, planning, policy and legal experts, for a roundtable discussion on overcoming power supply challenges to support the delivery of innovative and resilient developments that balance financial and environmental objectives ...
June 24, 2024 By: Michael C. Flynn A new Colorado law required all banks and credit unions chartered in any state to charge only Colorado’s maximum interest rate, not the interest rates allowed by the lender’s state ...
Bill Gates said in a blog post: “The development of AI is as fundamental as the creation of the microprocessor, the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, get health care, and communicate with each other. Entire industries will reorient around it. Businesses will distinguish themselves by how well they use it ...
In its Primary Market Bulletin 49 (PMB 49) (published in May 2024), the UK Financial Conduct Authority (FCA) issues a reminder to premium listed companies incorporated in the UK of their continuing disclosure obligations under the Listing Rules (LR). FCA issues reminders to listed companies on disclosure obligations The reminders emerged following a thematic 2023 review (the review) looking at disclosures made pursuant to LR 9.4 and LR 13 ...
On August 1st, 2024, Law No.21,643 which amends the Labor Code regarding the prevention, investigation and sanctioning of labor, sexual harassment and workplace violence (the “Law”), will enter into force. General Ruling No.3813 (“General Ruling”), issued by the Superintendence of Social Security ("SUSESO") on June 7th, 2024, provides technical assistance in all matters covered by the new Article 211-A of the Labor Code ...
On August 1st, Law No.21,643, which amends the Labor Code regarding the prevention, investigation and sanctioning of labor, sexual harassment and workplace violence (the “Law”), will enter into force. In this context, on June 7th, 2024, the Labor Board issued ruling No. 362/19, which establishes the meaning and scope of the amendments introduced by the Law (the “Ruling”). The most relevant aspects of the Ruling are the following: 1 ...
International Comparative Legal Guides Lending and Secured Finance 2024 - Jersey Contents Overview Guarantees Collateral Security Financial Assistance Syndicated Lending/Agency/Trustee/Transfers Withholding, Stamp and Other Taxes; Notarial and Other Costs Judicial Enforcement Bankruptcy Proceedings Jurisdictions and Waiver of Immunity Licensing LIBOR Replacement ESG Trends Other Matters 1. Overview 1 ...
June 14, 2024 By: Tricia A. Pham and Alexandra M. Shulman On Thursday, June 13, 2024, in Starbucks Corp. v. M. Kathleen McKinney, Case No. 23-367, the U.S. Supreme Court ruled that district courts must apply a strict, four-factor test when adjudicating requests for preliminary injunctions brought by the NLRB against the employers it charges with unfair labor practices ...
A new set of regulations regulating the grant of a temporary emphyteutical concession to the emphyteuta, tenant or operator of Government-owned commercial property came into force on 4th June 2024 in virtue of Legal Notice 131 of 2024 (the “Regulations”) ...
As a young lawyer, you might be struggling to believe that you can make a difference and to figure out how to do so. You might also be wondering how to gain the courtroom experience seemingly necessary to build a legal practice. If either of these is true, consider how pro bono litigation has impacted our legal system and could impact your career. Even if you read no further, take this advice: volunteer for pro bono cases. In Gideon v. Wainwright, 372 U.S ...
Environmental, Social, and Governance (ESG) principles have emerged as a crucial framework for assessing the sustainability and societal impact of businesses ...
Carey Olsen advises Patron Capital on its latest European real estate fund This is the third Patron Capital fund domiciled in Jersey under the island's well-established Expert Fund regime. Fund VII will continue the to employ Patron Capital's opportunistic investment strategy which focuses primarily on distressed and/or undervalued property and property related investments, mostly in Western Europe, and has a welcome ESG focus ...
