The California Department of Financial Protection and Innovation (fka Department of Business Oversight) is one step closer to issuing final regulations that would impose new early disclosure requirements on covered commercial lenders that are CFL licensed or subject to CFL licensing. On September 11, 2020, DFPI issued 4th Round Proposed Commercial Loan Disclosures. The DFPI's rulemaking is required by California Financial Code 22804 after California enacted SB 1235 in 2018 ...
Following the introduction in the British Virgin Islands (BVI) of the Economic Substance (Companies and Limited Partnerships) Act, 2018 (ESA), which became effective on January 1st, 2019, some questioned the sustainability of BVI’s position as a leading international financial centre. While we cannot underestimate those concerns, we believe that there is also evidence that ESA will not have a negative impact on the BVI ...
The Court of Justice of the European Union delivers judgments regarding the concept of “communication to the public” faster than legal scholars can read and dissect them. While we are eagerly awaiting the Court’s analysis of different types of hyperlinking, it has taken less than two months to follow Advocate General Hogan’s opinion regarding the emailing of evidence containing copyrighted works to a court in legal proceedings ...
Norway has acceded to the Cape Town Convention on International Interests in Mobile Equipment and its Protocol on Matters Specific to Aircraft Equipment (the «CTC»). The CTC has been implemented and given effect under Norwegian law as of 1 April 2011. It is still possible to register security interests over an aircraft with the Norwegian Civil Aircraft Registry («NCAR») ...
On November 5, 2020, in Valeant Pharms. N. Am. LLC v. Mylan Pharms. Inc., No. 2019-2402, the Federal Circuit held that venue in Hatch-Waxman cases brought under 35 U.S.C. § 271(e)(2)(A) is proper “only in districts where actions related to the submission of an Abbreviated New Drug Application (‘ANDA’) occur, not in all locations where future distribution of the generic products specified in the ANDA is contemplated.” Slip op. at 3 ...
This article has been published in PLI Chronicle. The market for consumer products derived from cannabis and its components, including cannabidiol (CBD), is exploding. U.S. sales of CBD products is expected to exceed $20 billion by 2024, up from just $1.9 billion in 2018. TheCBD market is expected to develop across diverse industries such as cosmetics and skin care, health products, food and beverage, pet products, and pharmaceuticals ...
The new issue of Legal Insight magazine includes a timely article by Anastasia Kayukova, Senior Associate at ALRUD Law Firm, and Anastasia Sidorenko, Junior Associate at ALRUD Law Firm. It is dedicated to the difficulties of determining the criteria, by which the FAS of Russia (Federal Antimonopoly Service) assesses the need to approve transactions related to the acquisition of “de facto” control rights ...
With the steady emergence of new technologies and disruption of traditional industries, the technology M&A sector is poised to continue to grow and the demand for technology-savvy legal advisers is set to rise. The purpose of this edition of the Getting the Deal Through - Technology M&A 2021 guide is to provide an overview of the various factors affecting technology M&A transactions across various jurisdictions ...
The Ohio Department of Health’s July 23, 2020 Order regarding facial covering mandates has been amended in light of the increasing number of COVID-19 cases in Ohio. The order became effective today, Nov. 16, 2020. See the order here. This new order includes the following additional mandates for retail stores (enterprises offering goods to the public) only. 1. Each business will be required to post at all public entrances to the store: A. A face covering requirement sign; B ...
A minority of states have enacted statutes and taken other action to protect business owners from claims by persons who allegedly were infected by COVID-19 on their premises.1 The purpose of this article is to compare these statutes and discuss some of the differences between them. This article addresses statutes in effect as of October 27, 2020. The article does not address pending legislation ...
Buyers’ Default Clause 13 of Saleform 2012 regulates Buyers’ default. The potential Buyers’ defaults are quite restricted to payment defaults. There are no Buyers’ default linked to failure to take over the Vessel (like you often find in shipbuilding contracts) or failure to provide the agreed documents. Nor is it likely that a Buyer will pay for the Vessel but not accept physical delivery ...
Under the Medicare Secondary Payer Act (MSPA), a Medicare Secondary Payer is the entity which has an obligation to pay medical expenses before Medicare. In the face of rising costs, legislation was passed in 1980 making Medicare a secondary payer to various primary plans in order to shift medical expenses to those Medicare believed should be the primary source of payment ...
Mamo TCV Advocates is pleased to announce that it has recently become the exclusive member law-firm for Malta of the World Services Group network (WSG). WSG is the leading global network comprised of elite top-ranked global practice firms. With over 120 member firms in 150 jurisdictions and 23,000 individual members, the network provides a proprietary platform for members to create relationships, expertise and new business opportunities to better serve their practice and clients ...
The Sharjah Court of Appeal recently declined to apply the principle of separability of an arbitration clause, on the basis that the underlying agreement (i.e. in which the arbitration clause was contained) was not defective or argued to be invalid by the appellant. This judgment has potentially significant implications for parties who intend to rely on an agreement which contains an arbitration clause to assert claims in court ...
The 2020 election in California as pertains to national politics was never in doubt, but despite being a deeply blue state, Californians continued to show their divide on taxing businesses and making major changes to the statewide tax code. Several ballot initiatives, both at the state and municipal level, would have radically altered how businesses and executives are taxed ...
On November 5, 2020, the Washington Supreme Court altered a 60-year provision of Washington’s Minimum Wage Statute when it issued its decision in Martinez-Cuevas v. DeRuyter Brothers Dairy. The court held that the agricultural overtime exemption at RCW 49.46.130(2)(g), which exempted agricultural employers from paying overtime at a rate of 1.5 times the regularly hourly rate, violated article I, section 12 of the Washington State Constitution as applied to dairy workers ...
A temporary work agency had, over a period of four years, hired out workers to an oil company that had a bonus scheme at company level for its employees. The Supreme Court found that the bonus scheme was a form of performance-related pay and thus covered by the term «pay» in section 14-12 a subsection 1 (f) of the Working Environment Act. The temporary work agency was thus obliged to pay a bonus to the two workers as if they had been permanently employed in the oil company ...
The Coronavirus pandemic has caused a shift in the paradigm of modern-day workplaces. Companies across the globe have seen a rapid and widespread shift to remote work, making compliance with the GDPR harder than ever. The Federal Office of Information Security (BSI), in its recent report on the ‘State of IT Security in Germany 2020’, expressed its concern and indicated a ‘tense situation’ for data protection in the country ...
In Brown v. Morehouse College, a False Claims Act (FCA) retaliation action, the U.S. Court of Appeals for the Eleventh Circuit affirmed the case’s dismissal, agreeing with the district court that while the plaintiff’s ethics complaints may have led to retaliation against him by the College, the complaints did not allege FCA fraud and therefore were not protected by the statute. No. 19-13773, 2020 U.S. App. LEXIS 33444 (11th Cir. Oct. 23, 2020) ...
Balance has been tipping over from creditors to shareholders and the pandemic is only bringing this deepening fault line to the fore. Covid-19 slammed into the global consciousness this March and, as expected, immediately torpedoed the markets. But despite the worsening economic data hogging news headlines, exacerbated by intensifying US-China tensions, the markets have paradoxically strengthened since ...
On 30 September 2020, the Royal Government of Cambodia (“RGC”) issued a press release and rolled out ‘Round 6’ of measures aimed at mitigating the impacts of COVID-19 on businesses and workers in Cambodia. These represent a combination of new and existing measures (that have been extended) ...
Michigan has joined the majority of jurisdictions in holding that a general liability policy may provide coverage for claims for property damage allegedly caused by the defective work of a subcontractor ...
When crafting a liquidation or “pass-through” agreement for a subcontractor claim against the government, the key provision from the prime contractor’s perspective is a release from liability for the subcontractor’s claim with the exception of amounts recovered from the government related to that claim. If the release language is too broad, however, the agreement may provide the government a legal defense to the pass-through claim known as the Severin doctrine ...
