Bolivian law contemplates two procedures by which local companies with financial difficulties, are ultimately obliged to sell their assets in order to satisfy existing payment obligations, be it through a mandatory dissolution and liquidation or through a judicial bankruptcy procedure. I ...
By decision rendered June 25, 2008, in K. B. & UAB Restoranu Grupe FORTAS v. AB Ragutis (Case No 3K-3-160/2008), the Supreme Court of Lithuania ruled that a component of a trademark that infringes an author’s copyright may not be disclaimed in the trademark registration.The plaintiffs, K. B. and UAB Restoranu Grupe FORTAS, sued one of the oldest breweries in Lithuania, AB Ragutis, for copyright infringement ...
With the UK economy continuing to be buffeted by the storm of the global financial crisis the effects are starting to be felt nearer to home in the "real" economy. For many businesses slashing costs is now a priority and, sadly, that often includes making staff redundant ...
Recently, the Federal Reserve Bank of New York announced a new program to facilitate the issuance of shortterm commercial paper (“CP”) by eligible issuers. The program was launched on Monday, October 27, 2008. The program is being administered by a new special purpose financing vehicle (“SPV”) that is referred to as the Commercial Paper Financing Facility, or “CPFF ...
The SFC recently issued a press release and a circular on risk disclosure. The circular reminds issuers of retail investment products, including authorised funds, of their duty to include in offering documents sufficient relevant risk information for investors to make an informed investment decision, and for marketing materials to be "clear, fair and present a balanced picture with adequate and prominent risk disclosure" ...
In this October edition of Pensions Bulletin we consider a recent Government paper on surplus payments and highlight that schemes must take action if they wish to preserve a power to pay surplus to a sponsoring employer in the future. We also comment on the impact of the latest developments in the Sea Containers case on the use of the Regulator's power to issue Financial Support Directions ...
The Court of Appeal (CA) judgment in Symbian Limited v Comptroller General of Patents (2008) EWCA Civ 1066 was issued on 8 October. This has upheld a High Court decision to overrule the UK Intellectual Property Office's (UK-IPO) rejection of a computer program on a conventional computer as non-patentable ...
A few years ago, Rick Rein got a call from a Chicago-area bank that had lost $1 million to a con artist who cashed a fake check that looked so authentic it easily passed through the bank's computer system. The fraudster wired the money to an obscure bank in Florida, then out of the country before the bank realized a month later the check was phony. Mr ...
From 1 October 2008, the Companies Act 2006 will repeal the prohibition on private companies providing financial assistance for the purchase of its own shares. This change in law will not apply to public companies which will continue to be prohibited from giving financial assistance ...
"Shouldn't you be at work?" - sports presenter Des Lynam's famous words during the BBC's World Cup 98 coverage may well be repeated by many an employer over the next week or so. For as the Beijing Olympics reach a crescendo, businesses are once again facing up to the challenges posed by a major sporting event. But there are ways to ensure that the 29th Olympiad does not add to the headaches being suffered by credit-crunched employers ...
On July 17, 2008, the Supreme Court of Canada in Hydro-Québec v. Syndicat des employé-e-s de techniques professionnelles et de bureau d'Hydro-Québec, 2008 SCC 43 clarified that there are limits to the employer’s duty to accommodate ...
Driving is the most dangerous work activity that most people undertake. An average 20 people are killed and 250 seriously injured every week in crashes involving someone who was driving, riding or otherwise using the road for work purposes. Up to a third of road accidents involve someone who was driving at work. Health and safety law applies equally to on-the-road work activities, and the risks should be managed within an effective health and safety system ...
Supreme Court of Canada Considers Duty to MitigateMay an employer fire an employee without cause, and then avoid paying damages by offering him temporary work? ‘Yes, sometimes’ declared the Supreme Court of Canada in Evans v. Teamsters Local Union No. 31 in a 6-1 ruling released in May 2008.Background FactsMr. Evans worked as a business agent for the Teamsters for twenty-three years. He was dismissed following the election of new union leadership. Mr ...
On June 27, 2008, the Supreme Court of Canada (“SCC”) released its decision in Keays v. Honda Canada Inc. and overturned the decision of the Ontario Court of Appeal and narrowed the scope of Wallace damages for the “bad faith” manner of dismissal. This decision arises from a decision of the Ontario Superior Court of Justice which awarded $500,000 in punitive damages to a dismissed employee in addition to 24 months salary in lieu of notice ...
On 20 May the Government announced that it had agreed a deal between unions and employers that will see agency workers in the UK receive equal treatment after 12 weeks employment. Trade unions had been arguing strongly that agency workers should receive equal rights from day one. The CBI has calculated that because of the qualifying period up to half of all agency assignments will be unaffected ...
On March 17, 2008, the Court of Québec fined Transpavé Inc. $110,000 after it pleaded guilty to a charge of criminal negligence causing the death of one of its employees. This is a first in Canada since the Criminal Code was amended so that an organization could be found guilty of criminal negligence in occupational health and safety matters ...
Difficulties in recruiting skilled employees and the labour shortage in some sectors are currently a source of headaches for many businesses. In this context, one solution may be to consider hiring foreign workers.In a press release published in September 2007, the Fédération des chambres de commerce du Québec noted that migrant workers are an indispensable asset to the competitiveness of Quebec businesses ...
Electronic commerce started its rapid development approximately 30 years ago, when the era of paperless transactions began. While many business transactions are still executed in paper form, the advantages associated with e-commerce continue to grow, including greater speed, efficiency, traceability, accuracy, and so forth ...
The Internet is a growing medium in the marketing of funds in Hong Kong. However, its use as a distribution channel for funds in Hong Kong is still relatively low. This chapter describes the rules applicable to the use of the Internet in marketing and distributing hedge funds in Hong Kong.There are different considerations for funds authorized by the Securities and Futures Commission (SFC) and for unauthorized funds ...
The Asian hedge fund industry is comparatively new and small. However, the industry has witnessed phenomenal growth since 2002. The purpose of this book is to assist start-up managers to establish a hedge fund business. To date, a majority of the newly-established funds in Asia have been set up by fund managers or proprietary traders setting up their own business, after a successful career at one of the larger investment houses ...
The Act respecting labour standards (hereinafter the “ALS”) was amended recently concerning absences due to sickness or accident and absences for family or parental reasons ...
At the beginning of this year the Supreme Court delivered a decision of principle interest regarding a computer software distributor’s right to severance pay (case no. T 930-06). Through the decision, the court has clarified that the Commercial Agency Act (1991:352) ( “Agency Act”) can be applied analogously to marketing and collecting of orders for computer software, despite the fact that computer software does not constitute goods under the act ...
Not treating a European collective bargaining agreement in the same way as a domestic collective bargaining agreement may be discriminatory according to EC law. Taking industrial action is, in itself, a fundamental right – but to force foreign companies to negotiate salaries without the existence of clear rules on what applies is not justifiable and is in conflict with the proportionality principle ...
On December 6, 2007, the Quebec Court of Appeal declared that part of Goodyear’s alcohol and drug detection policy implemented in its Valleyfield plant in the summer of 2004 was valid.The Court of Appeal’s judgement maintained in part a decision rendered on April 21, 2006 by the Superior Court that upheld grievance arbitrator Mtre Denis Tremblay’s April 12, 2005 ruling ...
