Last week the U.S. Department of Justice’s Cybersecurity Unit (“DOJ”) issued guidance to organizations concerning preparing for, responding to, and remediating cyber incidents. DOJ based its publication on lessons learned by federal prosecutors who handle cyber investigations and prosecutions, as well as feedback from private sector victims of cyber attacks and intrusions ...
In recent enforcement actions, the Consumer Financial Protection Bureau (CFPB) sued four payment processing companies – not for engaging in illegal debt collection – but rather, for ignoring warning signs in processing payments for debt collectors who were engaged in fraudulent debt collection schemes. The CFPB charged the payment processors with violating 12 U.S.C ...
Growth of the real estate industry in Panama is evident everywhere. Skyscrapers that could very well be found in large cities such as Singapore, Hong Kong or Miami, rise proud in former residential and colonial areas of Panama city. Panama’s architectural identity is driven by important local and international architects, and symbolic buildings such as the Biodiversity Museum and the F&F Tower, also known as ‘the Screw’ ...
On 5 January 2015, the Minister of Trade issued Regulation No. 4/M-DAG/PER/1/2015 of 2015 on Provisions to Use a Letter of Credit for Exporting Certain Commodities (“MOT Regulation 4”). One of the goals of MOT Regulation 4 is to provide a clear and verifiable record of prices actually paid by foreign buyers for exported natural resource products ...
In recent years, representation and warranty insurance has gained popularity as a tool to decrease transaction liability exposure in M&A transactions. These policies can be particularly useful in the context of cross-border transactions, for both financial and strategic parties, to facilitate middle-market transactions involving foreign buyers or sellers of domestic U.S.-based businesses. The product is also beginning to gain traction in transactions outside of the United States ...
Target Corporation recently announced that it entered into a settlement agreement with MasterCard International Incorporated, agreeing to pay up to $19 million to MasterCard for payments to reimburse issuing banks for card-replacement and fraud losses allegedly associated with the 2013 data breach at Target ...
On April 14, 2015, the White House announced that President Obama intends to remove Cuba from the government’s list of nations that sponsor terrorism. This decision follows a series of important changes to US policies and regulations affecting business and commercial transactions between the United States and Cuba ...
SyCipLaw Partner Rose Marie M. King-Dominguez and Senior Associate Franco Aristotle G. Larcinacontributed to the Philippine section of the Asia-Pacific Property Investment Guide, a publication produced by Ashurst Australia and Jones Lang LaSalle ...
There are two reasons why Latin American clients keep coming to US law firms to handle their cross-border M&A deals. The first reason is our execution capabilities: US law firms have been advising on cross-border M&As for more than 100 years. The second reason is the predictability of a tried and tested legal system: US law remains the preeminent choice for large cross-border M&A deals because of the certainties and guarantees it offers to everyone involved ...
ON FEBRUARY 19, 2015, THE COURT OF APPEAL OF QUEBEC1OVERTURNED A JUDGMENT RENDERED BY THE SUPERIOR COURT2, ON JULY 12, 2013, WHICH GRANTED THE DEFENDANTS’ MOTION TO DISMISS. ESSENTIALLY, THE COURT HAD TO DETERMINE WHETHER COVERAGE UNDER A BUILDER’S RISK INSURANCE POLICY EXTENDS TO DAMAGE CAUSED BY THE WORK TO AN EXISTING STRUCTURE, OR WHETHER IT IS LIMITED TO THE SITE ON WHICH THE WORK IS BEING DONE ...
Private sector, investors and experts agree that the Government of El Salvador has to improve the business climate to attract more national and foreign investment that would contribute to increase the Gross Domestic Product and improve in this way the living conditions of the population ...
The 2015 Mergers Control Survey by Margaret Huang and Victor Chang of LCS & Partners reviewed the merger control regime in Taiwan for IFLR. 1. REGULATORY FRAMEWORK1.1 What is the applicable legislation and who enforces it?The Fair Trade Act (FTA), which entered into force in 1992, is the main legislation governing Taiwanese merger control. Merger control is enforced by the Taiwan Fair Trade Commission (TFTC) ...
On Tuesday, March 24, 2015, the Supreme Court issued its decision inOmnicare Inc. v. Laborers District Council Construction Industry Pension Fund, 575 U.S. __ (2015). The ruling identifies two avenues by which a company’s statements of opinion in registration statements for initial public offerings can lead to liability under Section 11 of the Securities Act of 1933 ...
In a monumental decision, today the United States Supreme Court ruled that Trademark Trial and Appeal Board (“TTAB”) decisions carry preclusive effect in subsequent federal district court decisions so long as the ordinary elements of issue preclusion are met. The ruling implicates that, where use is the “paramount” issue in a court case, a TTAB decision that at least peripherally contemplates marketplace use will have preclusive effect ...
“Families that play together, stay together”. That’s what my late grandfather always used to say. But what does his message have to do with developing business opportunities in a law firm? In my opinion, everything. Business development is about people. It’s about relationships. Not just momentary relationships, but committed relationships. Relationships one would most likely find in a family. What unites a family and makes it strong? Trust, common values and support ...
This guide provides general commentary and direction to prospective purchasers of property in the BVI. It is not a substitute for professional advice which will take account of individual specific circumstances, and should not be taken as legal advice. No responsibility can be accepted by O’Neal Webster for any loss occasioned by a person or organisation acting or refraining from acting on the basis of this information ...
On January, 22, 2015, in thematter of Betteto Frett v National Bank of the Virgin Islands[i](theBank), the BVIHigh Court reinforced the principle that injunctive relief would not be easilygranted against a bank validly exercising its power to sell real property usedas security for bank loans ...
A country’s competitiveness depends in part on its capacity to attract foreign investorsinterested in the acquisition of local companies ...
Goodyear Tire & Rubber Co. recently agreed to pay $16.2 million to settle Foreign Corrupt Practices Act (“FCPA”) charges for conduct related to two subsidiaries in sub-Saharan Africa. Goodyear’s settlement highlights the government’s expansive interpretation of the books and records provision under the FCPA ...
On 19 February 2015, the Financial Services Commission removed restrictions on the use of the following words in the names of BVI Business Companies – 1.“BVI”;2.“British Virgin Islands”;3.“Council”;4.“Ntl”;5.“Int”;6.“Intl”;7.“VI”; and 8.“Virgin Islands” ...
On 26 January 2015, President Joko Widodo swore in Mr. Triawan Munaf as the Head of the Creative Economic Board (BEK – Badan Ekonomi Kreatif). BEK is tasked to strengthen the role of creative economic businesses, including protection for Indonesian creative crafts ...
Last week, President Obama issued an executive order promoting cybersecurity information sharing. Specifically, the executive order directs the Secretary of Homeland Security to encourage the development and formation of Information Sharing and Analysis Organizations (ISAO) ...
On January 13, 2015, New Mex Canada Inc. ("New Mex"), an Ontario corporation and employer in that same province, was sentenced to pay a fine of $250,000 while two of its officers each received 25-day prison terms after pleading guilty to several offences under the Ontario occupational health and safety legislation and regulations. The proceedings were instituted following a workplace accident in which a worker died after a fall ...
On February 11, 2015, Supreme Decree No. 2264 was enacted to establish the Productive Development Bank, as the entity in charge of recording unconventional collateral offered by productive entities. This will allow rural and non-rural producers to gain access to productive credit that had previously been inaccessible because of a lack of conventional collateral. Newly enacted regulation, set forth by Supreme Decree No. 2264 (“S.D ...
