President Obama has renewed his proposal to cut over $40 billion in tax breaks for oil, gas and coal producers over the next decade in an attempt to spend more for alternate energy and conservation. The $3.8 trillion budget proposal represents a 29% increase in renewable energy funds in 2013, as compared to 2012 ...
On 6 February 2012 the Cabinet of Ministers of Ukraine amended its Resolutions No. 1297 and No. 1298, dated 30 November 2011 (the "PSA Resolutions"), which determine tender terms for conclusion of production sharing agreements ("PSA") on exploration and production of hydrocarbons, in particular non-conventional gas, in Oles'ka and Yuzivs'ka subsoil blocks. These amendments (the "Amendments") are apparently made to address some of the foreign investors' concerns ...
You are the general counsel of a public company, and your board and your CEO are considering the company’s strategic acquisition options. Your input is needed on the different forms that such a strategic transaction can take ...
The United States Court of Appeals for the Fifth Circuit has confirmed that lower courts may use their discretion in choosing either of two methods - the "percentage method" or "lodestar method" - to calculate attorneys' fees in class action suits. The decision, in Union Asset Mgmt Holding A.G. v. Dell, Inc., 2012 WL 35249 (5th Cir. Feb. 7, 2012), affirmed a district court's use of the percentage method to calculate a $7.2 million fee award ...
The Federal Trade Commission (FTC) recently announced its annual revisions to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) jurisdictional thresholds. The revised thresholds will become effective 30 days after publication in the Federal Register and will apply to all transactions closing on or after such date. The new thresholds will remain in effect until the next annual adjustment, expected in the first quarter of 2013 ...
The Supreme Court of Canada confirms that only those modern practices that maintain a reasonable degree of continuity with the practices, customs or traditions that were integral to an Aboriginal group’s pre-contact dist inctive culture will be protected as an Aboriginal right under section 35 of the Constitution Act, 1982. On November 10, 2011, in the case of Lax Kw’alaams Indian Band v ...
2011 saw steady increases of production throughout the Marcellus Shale play, a heavy emphasis on strengthening and expanding pipeline infrastructure, and a boom in the level of activity in the Utica Shale play ...
You’re the general counsel of a public company and your CEO calls you to tell you that he is interested in acquiring another public company. He’s already asking you how quickly this can get done and what the company needs to do. What are the first steps you should take? Board of Directors Generally, the CEO should call each of your board members individually to gauge their initial reaction toward the acquisition and schedule a special board meeting to discuss a potential transaction ...
Over the course of a few months spanning June to September 2011, a number of regulations were issued by the Business Competition Supervisory Commission (Komisi Pengawas Persaingan Usaha – “KPPU”) as implementing guidelines to several pertinent Articles in Law No. 5 of 1999 concerning Prohibition of Monopolistic Practices and Unfair Business Competition (“Anti-Monopoly Law”). These guidelines are: Guidelines for Monopolistic Practices (Regulation No ...
In order to provide extensive protection, especially for the distribution of drugs in Indonesia, BPOM has issued a new regulation which sets out the criteria and procedure for drug registration, ie BPOM Regulation No. HK.03.1.23.10.11.08481 of 2011 regarding The Criteria and Procedure For Drug Registration ...
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On December 10, 2011, West Virginia Governor Earl Ray Tomblin issued a proclamation calling for a special session of the Legislature for the purpose of considering and acting upon legislation regarding horizontal natural gas well operations. The bill presented by the governor (SB 4001; HB 401) drew heavily from the draft legislation developed by the Joint Select Committee on Marcellus Shale ...
There has been considerable activity at the state and federal level over the past few months regarding when companies must “aggregate” emissions from operations to determine whether they are subject to the more stringent “major source” permitting requirements under the New Source Review (“NSR”) and Title V provisions of the Clean Air Act (“CAA”) ...
On Monday December 19, 2011, the Department of Justice announced year-end results for False Claims Act (“FCA”) cases in fiscal year 2011. The results, summarized below, demonstrate a dramatic increase in FCA cases brought by the government and private whistleblowers. The pharmaceutical industry is the prime target at the moment, but companies with defense contracts, federal subsidies and loans, and government contracts more generally are on the enforcement radar ...
The role, and especially the liability, of corporate directors have evolved considerably over the last few decades. Obviously, the financial scandals of the 1990s are largely responsible for this change that began in the United Stated with the enactment of the Sarbanes-Oxley Act of 200, prompting Canadian authorities to follow suit with the adoption of more stringent securities regulations ...
TO REMEMBER •The establishment of good governance practices is useful if not essential for SMEs, their directors, shareholders and managers. •Good governance practices can protect directors against their risks of liability.•Governance must be adapted to the realities of SMEs* This adaptation is achieved by a combination of informal measures and a few formal measures ...
TO REMEMBER - The establishment of good governance practices is useful if not essential for SMEs, their directors, shareholders and managers. Good governance practices can protect directors against their risks of liability. Governance must be adapted to the realities of SMEs. This adaptation is achieved by a combination of informal measures and a few formal measures ...
On November 15, 2011, the Supreme Court of Yukon released its decision in Ross River Dena Council v. Government of Yukon, 2011 YKSC 84. 1 The case is important as it is the first court decision to consider the issue of whether the Government of Yukon has a duty to consult with First Nations when recording quartz mineral claims under the Quartz Mining Act (the “Act”) ...
