We are still waiting for the “official” SBA FAQ announcing the withdrawal of the Forms 3509/3510 Loan Necessity Questionnaire (“Questionnaire”) that, according to the SBA, will include additional information about its review process. In the meantime, PPP lenders have been told by the SBA that they no longer are required to request that borrowers who obtained loans of $2 million or more complete the Questionnaire ...
A few days ago, Law 21,366 was published in the Official Gazette amending Law 20,659 (of May 2013), which created a complete digital system (and parallel to the traditional system of public deed and extract registered in the Registry of Commerce and published in the Official Gazette), to incorporate, modify and dissolve commercial companies. This system, administered by the Registry of Companies and Corporations or "RES" ( www.registrodeempresasysociedades ...
A few days ago, Law 21,366 was published in the Official Gazette amending Law 20,659 (of May 2013), which created a complete digital system (and parallel to the traditional system of public deed and extract registered in the Registry of Commerce and published in the Official Gazette), to incorporate, modify and dissolve commercial companies. This system, administered by the Registry of Companies and Corporations or "RES" (www.registrodeempresasysociedades ...
On August 11, 2021, the California Court of Appeals for the Second District extended the Pebley v. Santa Clara Organics (“Pebley”) Court’s analysis as applied to the admissibility of unpaid medical liens. Based on the Court’s reading of Howell v. Hamilton Meats[1] (“Howell”) and its progeny, the Court in Malak Melvin Abdul Qaadir v. Ubaldo Gurrola Figueroa et al ...
On July 21, 2021, the SEC’s Division of Examinations (the Division) issued a Risk Alert detailing more than 20 examinations of investment advisers who engaged in cross trades, principal trades, or both, involving fixed-income securities as part of the Division’s FIX Initiative. The July 21, 2021, Risk Alert is a follow-up to the Sept ...
In Apple Inc. v. Fintiv, Inc., (IPR2020-00019, Fintiv), the Patent Trial and Appeal Board (PTAB) at the United States Patent and Trademark Office (USPTO) elegantly laid out six different factors that the Board currently considers in discretionarily denying institution of an Inter Partes Review (IPR) that has a parallel district court proceeding ...
On 20 July 2021, the Hong Kong Monetary Authority (HKMA) issued a draft guideline on climate risk management for consultation with the banking industry with comments due by 20 August 2021. The guideline includes expectations on governance, strategy, risk management and disclosure ...
In the recent US case of In Re Citibank August 11, 2020 Wire Transfers (Revlon), the New York federal court held that lenders in a syndicated loan were not obliged to return an erroneous payment made by the syndicated facility agent due to the ‘discharge for value’ principle, which operated as a successful defence to unjust enrichment (click here for the full decision) ...
On August 20, 2021, the Personal Information Protection Law of the People’s Republic of China (the “PIPL”) was officially promulgated, which will come into effect on November 1, 2021. The PIPL will become the first systematic and comprehensive law in China that focuses on the protection of personal information ...
The news earlier this month that Jamie Spears has agreed to step down from his long-time role as conservator of his daughter Britney Spears’ estate “when the time is right” has once again shone a light on the singer’s 13-year-long conservatorship, leading many to consider capacity issues for the first time ...
Arbitration Rules 2021The Asian International Arbitration Centre (“AIAC”) launched its latest edition of the AIAC Arbitration Rules (“AIAC Rules”) on 1 August 2021. The AIAC Arbitration Rules 2021 (“2021 Rules”) streamline proceedings and embrace the needs of a fast evolving disputes climate ...
Teva Pharms. Int’l GmbH v. Eli Lilly and Co., Appeal Nos. 2020-1747, -1748, -1750 (Fed. Cir. Aug. 16, 2021) Eli Lilly and Co. v. Teva Pharms. Int’l GmbH, Appeal Nos. 2020-1876, -1877, -1878 (Fed. Cir. Aug. 16, 2021) In this week’s Cases of the Week, the Federal Circuit reviewed ...
Separated parents sometimes disagree about which school to send their child to. It is difficult enough accepting if you cannot spend as much time as you want with your child, so having to agree schooling can make life even more difficult. Do I have a say in choosing schools? If you have parental responsibility for a child, you are entitled to have a say in which school they attend and generally about their education. Both parents usually have parental responsibility for their child ...
In the recent case of E v L [2021] EWFC 60, the court has reconsidered how the sharing principle applied to marriages that are short and/or childless. Through the years, family courts have developed three key principles for financial remedy proceedings: “needs”, “sharing” and “compensation”. This article focuses on the two former principles ...
On 5 July 2021, the Hong Kong Securities and Futures Commission (SFC) issued a press release which announced that it has reprimanded and fined Mr Raymond Leung Tak Shing (Leung) HK$400,000 for failing to discharge his duties in relation to AML requirements as a member of a licensed firm’s senior management team ...
In a decision that will no doubt come as a great relief to the funds, banking, and asset management industries, the Court of Appeal ruled in Nomura Funds Plc v Collector of Stamp Revenue [2021] HKCA 1040 that a merger effected by way of the universal succession of the merged company (i.e., the surviving company) to the assets and liabilities of the merging company (i.e ...
In the wake of the pandemic and social justice movement in 2020, the call for diversifying corporate boards has intensified. On Aug. 6, 2021, the Securities and Exchange Commission (SEC) approved the Nasdaq Stock Market’s (Nasdaq) proposal to amend its listing standards to promote greater board diversity and to require board diversity disclosures for Nasdaq-listed companies ...
Key Points The court found that plaintiff’s reliance on an issue raised by third-party commenter to establish exhaustion was a risky endeavor; insofar as a third party settles institutes its own challenge on an issue and settles a claim, the plaintiff in a later action, at least in some circumstances, cannot maintain its own challenge on that same issue ...
Home Quarantine Now Possible for Ex-Patriates Imagine having the permission to work in a foreign country and yet being unable to do so as you are prohibited from entry. That has been the dilemma faced by many ex patriates who hold Employment Passes but have been unable to enter Malaysia due to the current restrictions in place ...
In our first part of this series, we provided a brief primer on patents. For the second part of our Intellectual Property series, we take a look at trademarks. Trademarks are not generally considered "technology", but the U.S. Patent and Trademark Office ("PTO") is charged with administering them along with patents. Certainly, technology startups must be aware of both of these types of Intellectual Property. The PTO provides a webpage with general information for the public ...
The manufacturer of the official facemask for the Brazilian Football Confederation filed a court action against an e-commerce company, accusing it of offering similar items allegedly manufactured by third parties. The manufacturer of the official facemask for the men’s and women’s teams of the Brazilian Football Confederation (CBF) filed a court action against an e-commerce company, accusing it of offering similar items allegedly manufactured by third parties ...
Yesterday, the California Supreme Court issued an important ruling in a case that had the potential to profoundly affect how public entities budget and pay for publicly funded projects in California, Busker v. Wabtec Corp. (Cal., Aug. 16, 2021,No. S251135) __ Cal.5th __, 2021 WL 3612126 ...
Petunia Products, Inc. owns the BROW BOOST ® trademark, under which it sells a “Billion Dollar Brows” eyebrow primer and conditioner. Petunia recently asserted trademark infringement claims against a skin care products company, which Petunia alleges infringed on its BROW BOOST mark in connection with the name of its product that competes with Petunia’s product, and by using the hashtag #BROWBOOST on social media to promote its product ...
Banking & Finance The Central Bank of Malta Issues Directive 19 on the Use of Cheques and Bank Drafts Directive No 19 ‘on the Use of Cheques and Bank Drafts’ was issued by the Central Bank of Malta on 7th July 2021 with the aim of promoting safe and effective use of cheques and bank drafts drawn on Maltese banks and financial institutions ...
Under the GDPR, transfers of personal data are permitted without restriction to countries that the European Commission (the "EC") has assessed as providing an "adequate" standard of protection for personal data. The current list of countries considered "adequate" is Andorra, Argentina, Canada (for commercial organisations), Faroe Islands, Guernsey, Israel, Isle of Man, Japan, Jersey, New Zealand, Switzerland and Uruguay and the United Kingdom ...
