When a donor attempts to cancel or withdraw from a charitable pledge, many organizations choose not to enforce the pledge in the spirit of donor and public relations. However, it is important to understand that charitable pledges can be legally enforceable obligations. Following is a summary of Texas law regarding enforceability of pledges ...
The use of hydraulic fracturing, sometimes called "fracking," has made it economically possible to produce hydrocarbons, mainly gas, from the central Appalachian region of the eastern United States. Shale gas development from the Marcellus Shale is focused in four states: New York, Pennsylvania, West Virginia and Ohio. These states are now facing environmental and surface-use issues which may be unfamiliar to developers from outside the region ...
Dear Sirs, We would like to inform you that Federal law “On amendments to Code of administrative offences of the Russian Federation and the Federal law «On industrial safety of dangerous production facilities» dated July 23, 2010 N 171-FZ will come into force on January 1, 2011 (hereinafter – the Law) ...
INITIATING THE SALE PROCESS – THE LOI When a business has located a potential buyer and is presented with a purchase offer (sometimes referred to as a letter of intent or “LOI”), many issues arise from that offer, including (i) the necessity of entering into a confidentiality agreement, (ii) the evaluation of the purchase offer, and (iii) the navigation of the due diligence process ...
Casa Grüter, a small domestic grocery store chain, created quite a commotion in Paraguay when it accused its distributors into boycotting them. According to publications in local newspapers, the larger supermarkets had supposedly told numerous domestic distributors they would stop doing business with them if they continued doing business with Casa Grüter ...
On 25 May 2010, the Government issued a new List of Business Activities which are Closed and Business Activities which are Open for Investment with certain Requirements (the Negative List), which became effective as of the same date.The new Negative List revokes and replaces the Negative List of 2007, and also introduces some new concepts ...
The Head of the Capital Markets and Financial Institutions Supervisory Agency (“Bapepam-LK”) recently issued a new decision, No. KEP-105/BL/2010, with the new Rule No. XI.B.2 attached. This decision sets out the rules governing share buy-backs in issuers and public companies to align them with the share buy-back requirements under Law No. 40 of 2007 regarding Limited Liability Companies (the “Company Law”) ...
Under Law No. 4 of 2009 on Mineral and Coal Mining in conjunction with Government Regulation No. 23 of 2010 on Mineral and Coal Mining Business Activities, for the national interest, the Government can control the production and export of coal. In this regard, the Minister of Energy and Mineral Resources (“MEMR”) has authority to determine the annual production of coal in each province. In connection with this authority, the MEMR issued Regulation No ...
When business owners contemplate the sale of their businesses, initial questions of where to start, what types of activities are required, and how to negotiate the sale process are commonplace ...
In order to prevent disruption to public services, parties looking to challenge decisions by public authorities (local councils, government departments, etc) have an obligation to bring their claims – including any claims that rely on EU law – within a reasonable time ...
With Carbon Capture and Storage (CCS) one of the discussion themes at ONS this week, the Norwegians will be looking to showcase their planned new CO2 capture plant at the Mongstad refinery. The initial pilot technology centre is expected to be in operation by 2011/12 and eventually the plant will have an annual capacity for handling 100,000 tonnes of carbon per annum ...
The Dodd-Frank Financial Reform Bill: New Reporting and Regulatory Requirements Imposed on Public Companies, New Investor Protection Elements, and New Responsibilities and Powers Given to the SEC On July 21, 2010, President Obama officially signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”), which represents the most sweeping regulatory overhaul of the financial markets since the Great Depression ...
Can the parties to an individual employment contract include a clause stipulating that the employee must reimburse his training costs to the employer if he resigns?Upon hiring and throughout the course of employment, employers often require employees to receive training. There are various reasons why employers want their employees to undergo training sessions, such as for safety purposes, special functions, technological changes, requirements of a supplier, etc ...
Tax Rates are Rising! This alert highlights the imminent changes to the tax laws in 2011 (e.g., the sunset of the Bush era tax cuts) and the changes that will arise in later tax years (e.g., tax provisions contained in certain parts of the recently enacted health care legislation) that may affect a decision to sell your business this year ...
As Secretary of Labor Hilda Solis informed a convention of safety engineers last year, “Make no mistake about it: The Department of Labor is back in the enforcement business.” In 2010, current OSHA enforcement statistics confirm this promise and reveal unprecedented levels of enforcement ...
Despite entering into arbitration agreements with their employees, employers all too often find themselves in court adverse to the very employees who have signed an arbitration agreement. The U.S. Supreme Court recently issued three arbitration decisions that have important implications for employers seeking to avoid the inside of a courtroom. First, in Stolt-Nielsen S.A. v. AnimalFeeds International Corp ...
Small organizations at risk of losing their tax-exempt status for failure to file annual returns for 2007-2009 (including the Form 990-N or “e-Postcard,” required for organizations whose annual gross receipts are normally $25,000 or less) can maintain their tax-exempt status by filing returns by October 15, 2010. The IRS website (www.irs ...
On July 21, 2010, President Obama officially signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”), which represents the most sweeping regulatory overhaul of the financial markets since the Great Depression ...
UK Bribery Act 2010 – the international dimensionThe Bribery Act 2010, which is due to come into force later this year, has international business and activities firmly in its sights. Practitioners who are used to the wide geographical scope of US legislation such as the Foreign Corrupt Practices Act may be surprised by the extent to which, under the Act, the UK courts will seize jurisdiction over offences committed abroad ...
Dear Sirs, On June 1, 2010 the Government of the Russian Federation adopted amendments to the Decree of the Government of the Russian Federation on Establishing Value of Assets of Credit Organizations for the Purposes of Antimonopoly Control No.335 dated May 30, 2007 (hereinafter “Decree on Establishing Value of Assets of Credit Organizations”) ...
The use of hydraulic fracturing has made it economically possible to produce hydrocarbons from reservoirs which previously would have been uneconomical to develop. Now, an extraordinary oil and gas boom is afoot in America, and onshore natural gas production is advancing at an extraordinary pace. For some states, this production is without historical precedent ...
On March 18, 2010, administrative judge Richard Hudon, of the Comission des lésions professionnelles (hereinafter, the “Comission”), rendered a very interesting decision in the case of Côté et Traverse Rivière‑du‑Loup St‑Siméon (2010 QCC LP 2074) by ruling that section 56 of the Act respecting Industrial accidents and occupational diseases (hereinafter, the “ARIA OD”) is discriminatory within the meaning of the Charter of human rights and freed
The Legal FrameworkIn terms of legal framework, Indonesia’s current private sector development of the geothermal energy business is divided into three separate legal regimes. The first regime started in 1981 under Presidential Decree No. 22 of 1981 amended by Presidential Decree No. 45 of 1991 (“PD 22/1981”) which still continues to apply as it is grandfathered by the later enacted Law No. 27 of 2003 on Geothermal Energy (“Law 27/2003”) ...
On June 30, 2010, the Securities and Exchange Commission (the “SEC”) formally adopted Rule 206(4)-5 (the “Pay-to-Play Rule”) under the Investment Advisers Act of 1940, as amended (the “Act”). The Pay-to-Play Rule is primarily designed to prohibit investment advisers from making political contributions to influence their selection as investment advisers for government investment accounts such as public pension plans ...
Insolvency Law can hardly reconcile business preservation and creditors satisfaction, so it usually sacrifices one or the other principle being therefore qualified as more or less debtor friendly. The question is whether preservation of business should take place in a prior stage, that of the pre- insolvency, leaving liquidation for the terminal insolvency situations ...
