As consumer bankruptcy filings remain an all-too-common occurrence, many lenders continue to find themselves in the often murky world of bankruptcy. As a result, on top of ensuring adherence to the numerous confusing regulations applicable to commercial loan transactions, lenders must navigate the federal bankruptcy laws. This article sheds some light on one bankruptcy process lenders are often faced with: reaffirmation agreements ...
Many community bankers have looked surprised at the “internationalization” of our banking rules. Standards coming out of the Basel Committee, particularly the Basel III Capital Rules, do not seem to fit community banks. The Basel Committee focuses primarily on the European banking system, which is dominated by very large banks. The rules have seemed to be a bad match for the U.S. economy, in which small community banks play such a large role ...
The American Arbitration Association (“AAA”) recently revised its Construction Industry Arbitration Rules and Mediation Procedures. The revised rules became effective on July 1, 2015 and include a host of changes, large and small. Here is what you need to know: Increased Thresholds for Regular and Fast Track Proceedings (Rules R-1 and F-1) AAA provides different procedures for “regular track” and “fast track” proceedings ...
A debtor files for bankruptcy protection, and his or her creditors are sent notice of the filing. Despite having received the notice, due to a breakdown in internal procedures one of the creditors, a bank, accidentally takes action to collect on the debt after the filing of the bankruptcy case – thus violating the automatic stay. Since the violation was unintentional, surely the bank cannot be sanctioned, right? Wrong ...
Originally published in the West Virginia Law Review ...
Attorneys who litigate common law bad faith and Unfair Trade Practices Act claims are well aware that insureds who substantially prevail in an underlying contract action for insurance proceeds are entitled to an award of attorneys’ fees under Hayseeds, Inc. v. State Farm Fire & Casualty, 177 W. Va. 323, 352 S.E.2d 73 (1986) ...
In the 21st century, cinema and film play a major role not only in our social activities, but also as a tool for learning about our history, addressing the issues faced in society and imagining what the future of a more innovative world would look like. However, the legal implications of telling a story through film, the cinema and television, go far deeper. Issues of copyright infringement, particularly within the Hollywood and Bollywood context, have found their way to the court room ...
The 2017 edition of the annual Brand Finance Global 500 report on the world’s most valuable brands was recently released. It’s fairly predictable, yet still makes for interesting reading. According to the report, the most valuable brand in the world is Google, which has a value of roughly USD109-billion. Google has leapfrogged Apple, which held the top spot for some five years ...
In terms of the Companies Act, 2002 (Cap RE 212) (the “Act”), every company incorporated or registered in Tanzania as a branch of a foreign company has an annual filing obligation with the Registrar of Companies, also called the Business Registrations and Licensing Agency (“BRELA”) ...
The background can be summarised simply: South Africa’s state broadcaster, the SABC, commissioned a filmmaker to make an investigative documentary for its factual genre TV channel. The filmmaker made the documentary and the SABC paid the fee (thus making it the owner of the copyright in the documentary under South African law). However, the SABC decided against airing the documentary ...
In addition to registering your trade mark with the Companies and Intellectual Property Commission (“CIPC”), brand owners should also ensure that their trade marks are protected online. One way of doing so, is by registering a domain name. What is a domain name? A domain name allows a party to establish its identity on the internet. It assists internet users to easily identify you on the internet and to access your site on the web ...
Government has proposed that companies and individuals no longer need the South African Reserve Bank’s approval for “standard intellectual property transactions” and that the “loop structure restriction for all intellectual property transactions” be lifted, provided that such transactions are arm's length and at a fair market price ...
ALRUD Real Estate practice Specialists, Andrey Zharskiy, ALRUD Partner, Stanislav Veselov, ALRUD Senior Associate, Galina Kulikova and Ksenia Bondarenko, ALRUD Attorneys, prepared an Article for the Newsletter of the Real Estate Section of the International Bar Association Legal Practice Division. The article, “Don’t be Trapped in Lease Agreements” covers main pitfalls that tenants in Russia may face while terminating a commercial real estate lease agreement ...
On February 23, 2017, Law N°21,000 (the “Law”) was published in the Official Gazette of Chile, creating the Commission for the Financial Market (the “Commission”), a professional body and technical entity that will replace the current Superintendency of Securities and Insurance (“ SVS “). The Law will enter into force in August 2018, or at an earlier date if the Commission becomes operational sooner ...
The February 14 decision in a closely watched Fourth Circuit False Claims Act (FCA) case did not, as initially anticipated, address the issue of the validity of statistical sampling to establish FCA liability. However, it did address another question that has split the circuits—whether the U.S. Department of Justice has the unreviewable right to veto FCA settlements in cases in which it has declined to intervene. See United States ex rel. Michaels v. Agape Senior Community, et al ...
The World Bank Group has released its Doing Business 2017: Equal Opportunity for All report. This is the 14th in an annual series of reports providing objective measures of business regulations and their enforcement in 190 economies ...
In the context of a dispute between a Turkish agent and a Belgian principal, the Commercial Court of Ghent (Belgium) referred a request to the Court of Justice of the EU (CJEU) concerning the legal protection of a Turkish agent under Belgian/EU law. The agent and principal had expressly agreed that their agency agreement was subject to Belgian law ...
During the Summer of 2013, we interviewed a group of owners who had completed IPD projects. Some owners had many IPD projects under their belts and others only one or two. But all were willing to share their experience and advice to help other owners. The transcripts were summarized in a white paper, still available on the Hanson Bridgett website, Integrated Project Delivery: The Owner’s Perspective ...
Political uncertainty dominates the headlines, with the fallout from Brexit continuing, leadership changes in the USA and further elections soon to take place across Europe. The legal landscape in Scotland also continues to change ...
Russia has significantly revised its arbitration laws by adopting two Federal Laws (hereinafter referred to as “Arbitration Laws”)1, which came into effect on September 01, 2016. The main aim of the arbitration reform in Russia was elimination of so-called “pocket” arbitration institutions and improvement of overall quality of arbitration process in Russia ...
'Close of business' is a term many people use in their day to day working life without much thought. But what does it actually mean and should the term be used in contractual documentation? Agreeing to get something done by 'close of business' is a phrase often used when flexibility is required as to the time a task will be completed. It makes it clear the task will be done that day, but not by a particular time ...
The largest U.S.-based for-profit multi- campus international university became the first benefit corporation to go public on February 1, 2017 raising $490 million. This is a significant financial event and shows that the financial markets are available to companies that combine a positive social and environmental purpose along with shareholder profit ...
In a decision rendered on December 1, 2016, the Superior Court of Québec had to rule on a situation which, until that time, was completely novel, and to determine whether lawyers can act in a court action against former employees of a client whom they still have to work with in connection with another related proceeding. The Court declared that the lawyers were disqualified ...
On 1 January 2017, the Liechtenstein reform of the private limited company (Gesellschaft mit beschränkter Haftung; "GmbH") entered into force. While being highly popular in many other European countries, the GmbH in the past led a merely marginal existence in Liechtenstein ...
Comment letters issued in 2016 by the staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to reporting E&P companies relating to their 2015 annual reports continue, as in past years, to focus on disclosure issues such as the effects of low commodity prices and proved undeveloped reserves (PUD) conversion rates ...
