The Constitutional Court in Decision No. 27/PUU-IX/2011 (“Decision”) declared articles 65(7) and 66(2)(b) of Law No. 13 of 2003 (“Manpower Law“) conditionally unconstitutional where fixed-term employment contracts used in outsourcing arrangements do not provide a clause protecting the rights of existing workers when the principal company (work provider) switches outsourcing company or labour provider but the same work continues ...
Bill 33,1 whose very title announced the elimination of Union Placement of employees to improve the operations of the construction industry, was assented to on December 2, 2011, and it has raised a lot of comments. The media has made a great deal of the changes proposed in this bill regarding union placement of employees in the construction industry ...
One of the most innovative and exciting sections of the new Jumpstart Our Business Startups Act (the “JOBS Act”) creates a new “crowdfunding” exemption from state and federal securities law registration. Through this new exemption, issuers and investors may communicate by way of the Internet in connection with the issuance of new securities ...
LAVERY follows the evolution of consumer law closely, its specialized expertise in the fields of retailing and class actions has been confirmed many times by stakeholders in the milieu ...
The Securities and Futures Commission (SFC) is introducing new disclosure requirements for short positions in certain Hong Kong listed shares. Background Part XV of the Securities and Futures Ordinance (Part XV) requires disclosure of short positions of over 1% held by substantial (5% or more) shareholders in a listed company, and of all short positions held by directors and chief executives of listed companies ...
The Government of Guangdong Province has recently put forward and is currently seeking public opinions on a series of draft labour law related regulations, namely, the Provisions of the Implementation of the Labour Contract Law of the People's Republic of China in Guangdong Province ( 《广东省实施 〈中华人民共和国劳动合同法〉若干规定》)
On April 17, 2012, the Court of Appeals for the District of Columbia Circuit issued a decision enjoining the National Labor Relations Board (“NLRB” or the “Board”) from implementing a controversial rule requiring employers to post a notice informing employees of their rights under the National Labor Relations Act (“NLRA”). The rule’s effective date was slated for April 30, 2012. In response to the D.C ...
Laverly follows the evolution of consumer law closely. Its specialized expertise in the fields of retailing and class actions has been confirmed many times by stakeholders in the milieu. Laverly makes it its duty to keep the business community informed about these matters by regularly publishing bulletins that deal with judicial and legislative developments that are likely to leave their mark and influence or even transform practices in the milieu ...
You are the general counsel of a public company, and the company’s board has determined that it is in the best interests of the company’s stockholders to examine and explore all strategic alternatives to increase stockholder value, including a sale of the business ...
The new Jumpstart Our Business Startups Act (the “JOBS Act”), signed into law on April 5, 2012, contains a number of substantial revisions to U.S ...
Until recently, individuals considering cooperating with an SEC investigation had a difficult time determining whether a tangible benefit would result from cooperation. Two releases issued by the SEC in the past month demonstrate how the SEC has begun to apply its Cooperation Initiative and give new insight into how the SEC evaluates and credits cooperation in determining sanctions against individuals ...
Consumer Law and the Consumer Protections Act (THE “CPA”) are aimed first and foremost at economic activities in the retail sales sector, spending in this sector represents more than 65% of spending in the province ...
THE FACTS In January 2001, Synertech established two individual pension plans for two of its executives, that is the individual pension plan for Mr. François Bérard (the “Bérard Plan”) and the individual pension plan for Mr. Michael Pons (the “Pons Plan”). In November 2008, Synertech amended these two pension plans, effective as of January 1, 2001 ...
On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act (the “JOBS Act”) ...
On Monday, March 26, 2012, the United States Supreme Court issued a decision in Credit Suisse Securities (USA) LLC v. Simmonds. The Court held that an alleged failure by a corporate insider to file a short-swing profit disclosure under Section 16(a) of the Securities Exchange Act of 1934 does not indefinitely toll the two-year statute of limitations on another party’s claim for recovery of such profits under Section 16(b) ...
In a decision issued this week, Roland v. Green, -- F.3d --, 2012 WL 898557 (5th Cir. Mar. 19, 2012), the U.S. Court of Appeals for the Fifth Circuit addressed an issue of first impression—the scope of the preclusion provision of the Securities Litigation Uniform Standards Act (“SLUSA”). Recognizing the current split among circuits, the court adopted the “tangentially related” test ...
The Powers Of CSST Inspectors ConfidentialityAgreements:The Importance Of Protecting Your Secrets; Your First Financial Institution. Various statutes impose obligations on employers to take the necessary measures to protect the health and safety of workers, including An Act respecting Occupational health and safety (R.S.Q., c. S‑2.1) (hereinafter referred to as the “AROHS”) ...
Class Action and Consumer Law: The Court of Appeal Excludes Non-Consumers from the Approved Class in an Authorized Class Action CONSUMER PROTECTION LAW AND THE CONSUMER PROTECTION ACT (“CPA”) APPLY FIRST AND FOREMOST TO ECONOMIC ACTIVITIES IN THE RETAIL SECTOR. EXPENDITURES ASSOCIATED WITH THIS SECTOR REPRESENT MORE THAN SIXTY-FIVE PERCENT OF ALL EXPENDITURES IN THE PROVINCE. IT IS ALSO AN AREA OF THE LAW WHICH FREQUENTLY COMES BEFORE THE COURTS ...
You are the general counsel of a public company and expect M&A activity to increase in the United States during 2012. Do you know if your company looks like a good target to potential acquirors? It is important to understand whether you could be a target before getting that first overture from an acquiror ...
On 17 November 2011, the Minister of Manpower and Transmigration (“MOM”) issued Regulation No. PER.16/MEN/XI/2011 on the Preparation and Legalization of Company Regulations and the Preparation and Registration of Collective Labour Agreements (“PER 16”). In principle, the provisions on the preparation and legalization of CR are not different from previous regulations ...
On 28 November 2012, the Capital Market – Financial Institutions Supervisory Board (Badan Pengawas Pasar Modal – Lembaga Keuangan or “BAPEPAM - LK”) issued a new regulation on Changes to Material Transactions and Main Business Activities, ie Decree of the Head of BAPEPAM-LK No. KEP-614/BL/2011 (“Regulation IX.E.2”) which revoked Decree of the Head of BAPEPAM-LK No. KEP-413/BL/2009 (“Previous Regulation”) on the same matter. Regulation IX.E ...
On March 2, 2012, a federal district court in Washington, D.C. upheld the National Labor Relations Board’s authority to adopt a proposed regulation requiring employers to post a notice informing employees of their federal labor law rights ...
All fire insurance policies which cover a mortgaged immovable contain a clause dealing with the mortgage security (the “mortgage clause”). Financial institutions are familiar with this clause, which is considered as a separate contract from the insurance policy between the insurer and the mortgage creditor (the “creditor”) of the insured immovable ...
The anti-retaliation provision in Section 215(a)(3) of the Fair Labor Standards Act (“FLSA”) makes it unlawful for an employer to “discharge or in any manner discriminate against any employee because such employee has filed any complaint or instituted or caused to be instituted any proceeding under or related to this chapter, or has testified or is about to testify in any such proceeding.” On March 22, 2011, the Supreme Court of the United States decided Kasten v ...
