However, in the light of the recent decisions in Rangecroft Ltd v Lenox International Holdings Ltd [1] , IS Investment Fund Segregated Portfolio Company v Fair Cheerful Ltd [2] , and most recently in A Creditor v Anonymous Company Ltd [3], a reassessment is required as to whether the procedure is truly optional. The Court in Lenox International highlighted the importance of following the "two-step process" to wind up a company on the basis of its insolvency ...
Mitek Systems, Inc. v. United Services Automobile Association, Appeal No. 2021-1989 (Fed. Cir. May 20, 2022) Our Case of the Week this week is a declaratory judgment action brought against USAA. In a 27-page opinion, the Federal Circuit addressed three issues: subject matter jurisdiction for declaratory judgment actions under Article III of the U.S. Constitution, the discretionary authority of courts to decline declaratory judgment jurisdiction, and venue for hearing such a case ...
Two recent Supreme Court decisions concerning the First Amendment affect when the government can regulate speech. Dinsmore's Justin Burns and Brady Wilson wrote about the cases for Law360 Expert Analysis. An excerpt is below and the full PDF is above. Recent headlines from the U.S. Supreme Court focus on leaks, but City of Austin v. Reagan National Advertisements of Austin and Shurtleff v. City of Boston, two recent First Amendment decisions, are also worth noting ...
Following the first reading of the Procurement Bill in the House of Lords, Shoosmiths considers how this will change public procurement as we know it. The Government has recently taken the next step in its plan to transform public procurement, by publishing the Procurement Bill (‘the Bill’). The first reading in the House of Lords took place on 11 May 2022 and we can now start to consider the changes this Bill will bring ...
Yesterday was closing submissions day for “Wagatha Christie”, aka Rebekah Vardy v Coleen Rooney. While we await Mrs Justice Steyn’s verdict, Kath Livingston, a Shoosmiths partner in dispute resolution & litigation, gives her thoughts and reflections on the trial, with more to follow after judgment ...
With the introduction of foundations as an alternative type of structure to companies, the trustee can be formed as a private trust foundations (“PTF”) instead of a PTC, offering increased choice to the client. To help guide this choice, this briefing note considers key issues relating to the establishment and use of a PTC or a PTF in the context of private wealth management. References to “PTVs” are to both PTCs and PTFs ...
In summary, in most jurisdictions, trust assets will be more vulnerable to attack from a settlor’s creditors in the following scenarios: A settlor’s retention of dispositive powers (particularly positive powers e.g. powers to direct the trustee in contrast to a power to veto a trustee’s proposal) generally renders a trust more vulnerable to attack by creditors. Retaining powers to revoke the trust and/or a general power of appointment (i.e ...
This trend is worth monitoring, and undoubtedly reflective of generational change as those who set up companies or transferred interests into these jurisdictions decades ago pass on and leave their families fighting for control of the assets they have left behind. A helpful new judgement from the Easter Caribbean Court of Appeal (the Appeal Court) handed down on 23 March 2022, provides helpful further insight into family disputes over wills ...
In collaboration with the Department of Treaties and Law of Thailand’s Ministry of Foreign Affairs, the Faculty of Law, Chulalongkorn University’s recently concluded the ‘Essential Skills for Legal Practice’ program where Kudun and Partners, together with other leading global and local law firms in Thailand were invited to provide knowledge on the essential skills for the legal practice ...
Contents Creation Legal personality and duration Founder Guardian Beneficiaries Council and counsillors The register of foundations Resident Agent Disclosure of Beneficial Ownership Confidentiality and disclosure Regulation of foundations Tax position Tax Filings of a Foundation CRS, FATCA and Foundations Economic Substance and Foundations Creation A foundation comes into being upon the founder endowing the foundation with its initial capital, subscribing his name to th
On April 29, 2022, the National Information Security Standardization Technical Committee issued for public comments a draft of the Technical Specifications for the Certification of Personal Information Cross-border Processing (the “Draft Specifications”) ...
However, Guernsey is also home to a number of insurers and reinsurers underwriting third party risks including life insurance/assurance as well as more exotic risks such as kidnap and ransom and “after the event” insurance ...
On April 7, 2022, the State Council announced its Decision on Amending and Annulling Certain Administrative Regulations (State Council Decree No. 752; the “Decision”), which will take effect on May 1, 2022 ...
On April 7, 2022, the State Council announced its Decision on Amending and Annulling Certain Administrative Regulations (State Council Decree No. 752; the “Decision”), which will take effect on May 1, 2022 ...
May 17, 2022 By: Arielle Seidman and Anthony Martin The Colorado Privacy Act (CPA) is set to take effect on July 1, 2023. The law, which applies to, among others, many businesses or non-profits that process data of no fewer than 100,000 persons over the course of a year, allows the attorney general to “promulgate rules for the purpose of carrying out” the CPA ...
Local authorities will be given rights to let vacant high street premises under new powers contained in the Levelling Up and Regeneration Bill. Background The government wants to regenerate local high streets as part of its levelling up agenda. A key element of its proposals is to give local authorities the right to let vacant premises on their high streets following a rental auction process ...
Article by Pisut Ratwong, Founder of Pisut and Partners, and Anne Coulon, Regional Legal Adviser of DFDL An injunction is a Court order that enjoins a party either to perform a specific act, or to refrain from doing the same. ‘Interlocutory’, ‘Temporary’ or ‘Interim’ injunctions are used interchangeably. An injunction can serve as a guarantee that a debtor will return money or any liabilities to the applicant ...
The Ministry of Energy (“MOE”) under the State Administration Council (“SAC”) of Myanmar has issued two invitations for sealed bids to be submitted to function as: an operator and shareholder in the Yetagun Project (“Yetagun Project”) in the Moattama Offshore Area Blocks on a production-sharing contract basis (“PSC”); and a petroleum operator for the Htaukshabin-Kanni Oil Field (“HK Oil Field”) onshore oil fields on Improved
When Neil Young wrote that “Southern change gonna come at last,” he wasn’t talking about cannabis— but he might as well have been in light of the recent and extraordinary developments in the cannabis industry in the southern United States ...
Atlanta Gas Light Company v. Bennett Regulator Guards Inc., Appeal Nos. 2021-1759 (Fed. Cir. May 13, 2022) In this week’s Case of the Week, the Federal Circuit Court addressed the third appeal from an underlying inter partes review proceeding in the wake of a recent Supreme Court decision holding time-bar determinations as unreviewable. The Court dismissed for lack of jurisdiction ...
The proposed planning reforms in the Levelling Up and Regeneration Bill are many and varied. However, there are a number of themes that run through the proposals. Ambition The Levelling Up and Regeneration Bill aims to reverse geographical disparities between different parts of the United Kingdom by spreading opportunity more equally ...
INTRODUCTION As the world advances, new ventures in the media and internet world are emerging. One of the most recent enterprises that technological and internet evolution has witnessed is social media influence/influencing. According to Tech Target, social media influence is a term for an individual’s ability to affect other people’s thinking in a social media/online community[1]. This enterprise has become popular, particularly in recent years ...
A trust is created when the legal ownership of property is transferred to or vested in a trustee who thereafter is required by law to manage and administer the property for the benefit of beneficiaries, or for the furtherance of certain purposes. The beneficiaries of the trust collectively hold beneficial title to the trust property. This permits the beneficiaries to enforce trust obligations through the courts if necessary ...
On May 9, 2022, National Medical Products Administration (NMPA) issued for public comments a draft revision (the “Draft Revision”) to the Regulations for the Implementation of the Drug Administration Law of the People’s Republic of China (the “Regulations”). The public comment period ends on June 6, 2022. The Regulations were last revised and became effective in March 2019 ...
