The concurring opinion in a recent Third Circuit Court of Appeals case1 suggests that trademark licensees may be able to retain their rights in bankruptcy cases, even if licensors reject the license agreements. The majority did not consider whether the licensee could retain its rights. Instead, the majority held that the trademark license was not an executory contract; therefore, it could not be rejected under the Bankruptcy Code ...
Coast Mountain Bus Company Ltd. v. National Automobile, Aerospace, Transportation and General Workers of Canada (CAW-Canada), Local 111, 2010 BCCA 447 (B.C.C.A.) In a recent case, the British Columbia Court of Appeal found that Coast Mountain Bus Company’s attendance management program discriminated against employees with disabilities and was not justified on the basis of bona fide occupational requirements ...
Are you planning to carry out a transaction? Does it involve a party that is related to your company? If so, you may be forced to obtain an independent valuation and the approval of your minority shareholders, file a geological report, and disclose detailed information. The costs engendered by these requirements can escalate rapidly or turn into a procedural nightmare that could considerably delay your transaction ...
On September 30, 2010, in In re American Safety Razor, LLC, et al., Case No. 10-12351 (MFW), the United States Bankruptcy Court for the District of Delaware ruled that the debtors’ proposed bid procedures for the sale of the business were unfair and unreasonable. The bid procedures, among other things, provided too much discretion to the debtors in the auction process. 363 Sales in General Section 363 of the Bankruptcy Code provides authority to sell a debtor’s assets ...
Before heading into the pre-election recess, the Senate passed the Veterans’ Benefits Act of 2010 on September 28, 2010. See H.R. 3219, 111th Cong. (2d Sess. 2010). The Act, which passed in the House over one year ago, is a compromise measure between the House and the Senate and encompasses several veterans’ benefits bills. Of notable importance to employers is the Act’s expansion of employee protection under the Uniformed Services Employment and Reemployment Rights Act (“USERRA”) ...
On October 5, 2010, Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”) issued a ruling in the River Road Hotel Partner LLC, et. al. (the “Debtors”) bankruptcy cases denying the Debtors’ bid procedures motion incident to plan confirmation. The bid procedures motion, among other things, sought the denial of secured creditor’s right to credit bid ...
On August 27, 2010, the National Labor Relations Board (the “Board”) issued its long-awaited decision in United Brotherhood of Carpenters and Joiners of America, Local Union No. 1506, 355 NLRB No. 159 (2010) – a case that had been pending before the Board since March 2004 - holding that bannering at a secondary employer’s place of business was not an unfair labor practice. The Facts Four non-union employers, Eliason & Knuth, Delta/United Specialties, Enterprise Interiors, Inc ...
On Monday, in Versata Enterprises, Inc. and Trilogy, Inc. v. Selectica, Inc ...
Charitable fundraising activities in multiple states—and even in multiple cities, municipalities, and counties within Texas—can potentially create a compliance risk. Although not regulated by the IRS, many state and/or local authorities have adopted charitable solicitation registration and reporting requirements. In addition, the revised Form 990 requires a disclosure regarding compliance with state rules ...
On October 4, 2010, less than six weeks after approving new rules to facilitate shareholders’ rights to nominate directors, the SEC postponed the effectiveness of the rules. As a result of this postponement, in the upcoming proxy season companies most likely will not have to address the new shareholder proxy access rules. In the Order granting the postponement, the SEC granted a request by the Business Roundtable and the U.S ...
by Bryan G. Scott After having filed and perfected a claim of lien on real property, you, as general contractor, have just entered into a written settlement agreement to settle a payment dispute with the owner. Your agreement requires the owner to pay you $300,000 in three monthly installments. The owner makes the first payment, but then refuses to make additional payments ...
Once a company files a Chapter 11 bankruptcy petition (to sell its assets, reorganize or liquidate), Bankruptcy Code § 1114 sets forth a detailed procedure for the employer to follow to modify or terminate certain retiree benefits. Among other things, § 1114 imposes on the employer the burden of showing that the elimination or modification of benefits is necessary to permit reorganization ...
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* Disclosure Rules Applicable Prior to the Sale of Additionnal Warranties * Attornment of Jurisdiction Clause set Aside in Bankruptcy Proceedings * What to do When Your Lessee Declares Bankruptcy DISCLOSURE RULES APPLICABLE PRIOR TO THE SALE OF ADDITIONNAL WARRANTIESLUC THIBAUDEAUlthibaudeau@lavery ...
The Bribery Act 2010 is due to come into force in April 2011, with significant implications for organisations incorporated or formed in the UK. It also affects those carrying out their business or part of their business in the UK wherever in the world they were incorporated or formed. The Act goes much further than the existing legislation and similar foreign legislation, such as the US Foreign and Corrupt Practices Act ...
02 September 2010 In July 2010 the British Property Federation and the Construction Clients' Group reported that two thirds of companies commissioning construction services have no knowledge whatsoever of the Construction (Design & Management) Regulations. These regulations - commonly referred to as the CDM Regs and updated in 2007 - apply to almost all construction projects undertaken in the UK ...
Dubai: Afridi & Angell - Stuart Walker, Partner quoted in this article: There are still a number of challenges which start-ups should be well aware of. These include, but are not restricted to, getting the financing through, the relatively high operational costs and labour considerations. Image A belief of sorts exists that only those with a long and direct exposure to the local marketplace can set up and successfully run a business here ...
Declarations must be filed at Land Department Directions on Strata Law seek to clarify regulation of jointly-owned developments used by owners or occupiers There has been much speculation in recent years about the introduction of the Strata Law, which aims to remove the legal ambiguity with respect to jointly-owned property that currently exists for both homeowners and developers alike ...
Although the Obama administration and Senator Reid (D-NV) have not altered their position to keep used nuclear fuel out of Yucca Mountain and the President’s Blue Ribbon Commission continues to meet to develop a nuclear waste strategy (even though a coherent strategy was enacted in the Nuclear Waste Policy Act), the Nuclear Regulatory Commission (NRC) has reaffirmed its confidence in the ability of licensees to be able to safely store high-level nuclear waste ...
ALTIUS' Real Estate & Regulatory team and ICT team contribute to 2011 editions of 'Getting The Deal Through' series • 07/09/2010 Lieven Peeters , William Timmermans, Suzy Miller and Charlotte Boumal, lawyers in ALTIUS' Real Estate & Regulatory practice, wrote the Belgian Chapter of the "Getting the deal through - Construction" book published by Law Business Resear
Recently, the Federal Trade Commission (“FTC”) proposed changes to the Hart-Scott Rodino Antitrust Improvements Act (“HSR”) and to the Premerger Notification and Report Form (“Form”) required to be filed by companies with the FTC or Antitrust Division of the U.S. Department of Justice (“Agencies”) for their review of certain proposed transactions with a value in excess of $63.4 million (the current size of the transaction threshold) ...
In two actions released last week, the Securities and Exchange Commission (“SEC”) signaled its new focus on credit rating agencies and foretold the seriousness with which it will approach the expanded regulatory authority granted to the SEC by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”). On August 31, 2010, the SEC released a Section 21(a) report on its investigation of Moody’s Investors Service, Inc ...
Companies are now required to grant proxy access to director nominees submitted by shareholders pursuant to new rules adopted by the Securities and Exchange Commission (the "SEC") on August 25, 2010. The series of amendments to the federal proxy access rules, passed by a 3-2 vote, is designed to facilitate shareholders' rights to nominate directors by requiring a company to include shareholder nominees in the company's proxy materials ...
When a business owner has entered into a confidentiality agreement and a letter of intent (“LOI”) and has provided a potential buyer with requested due diligence materials, it is time to document the sale of the business with the transaction documents, including a purchase agreement, a bill of sale, and many other items (often the transaction documents are negotiated on a parallel basis while the due diligence process is underway) ...
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 ...
