Dinsmore's Richik Sarkar was published in the American Bar Association's Business Law Today this week discussing a few lawsuits alleging that lack of board and management diversity constitutes a breach of fiduciary duty. An excerpt from the article, "ESG In Action: Diversifying Corporate Governance," is below. "While the purpose of these suits is laudable, significant threshold legal questions exist ...
It is expected that President Biden will sign the PPP Extension Act of 2021 passed by the House of Representatives on March 16, 2021, and the Senate on March 25, 2021. The bill extends the funding for the Paycheck Protection Program (“PPP”) Loan program through June 30, 2021, for First Draw and Second Draw Loan applications submitted by lenders to the SBA by May 31, 2021 ...
In the wake of the spate of recent business collapses the Department of Business, Energy and Industrial Strategy (BEIS) has published a White Paper titled “Restoring trust in audit and corporate governance”. The White Paper is open for consultation until 8 July 2021, and feedback can be submitted directly online via the BEIS website or emailed to [email protected] ...
The DIFC Court of First Instance has, for the first time in its history, issued a judgement allowing the examination of witnesses resident in the UAE pursuant to two requests for judicial assistance (Letters Rogatory) from the District Court of the State of Minnesota, USA (the US Court). The judgement, issued by Justice Robert French, clarifies the scope of Rules 30.65, 30.66 and 30.67 of the Rules of the DIFC Courts (the RDC) ...
In August 2020, Kudun & Partners was appointed to represent the largest group of creditors, consisting of 87 savings cooperatives, in the wake of the recent Thai Airways’ petition for rehabilitation. Taken together, these investment entities hold 65% of the airline’s total debenture debt, making them the largest group of creditors ...
Understanding the Employer's Entitlement to Liquidated Damages When there is Sectional Completion - ǼLEX Legal .avada-select-parent .select-arrow{background-color:#ffffff}.select-arrow{background-color:#ffffff} It is common for parties in commercial construction projects to include sectional completion provisions in their contracts where they have agreed to complete works in sections or phases ...
(Antelope Valley Groundwater Cases, JCCP No. 4408 (3/16/21))[1] After twenty-two years, the protracted proceedings in the Antelope Valley groundwater adjudication resulted in a settlement and court-approved "physical solution." A physical solution equitably allocates available water under California's laws governing water rights. The physical solution in Antelope Valley limited pumping to balance the overdrafted aquifer with the available native safe yield ...
On March 22, 2021, through a televised address, the President of the Republic announced the strengthening and extension of the Social Protection Network, destined to mitigate the adverse effects caused by the restrictions due to the COVID-19. These measures are based on 5 pillars: • Greater protection to the families’ incomes. • Strengthening of the middle-class support. • Greater job protection ...
President Biden signed the American Rescue Plan Act of 2021 (the Act) on March 11, 2021. The Act provides COBRA premium subsidies, increases the tax-exclusion amount for employer-sponsored dependent care assistance programs and expands who may be eligible to receive premium tax credits for marketplace coverage. This alert explains how these provisions may impact your welfare benefit plans. Please contact your Dykema benefits attorney to explore the new provisions in greater depth ...
Beginning of Stage 2 of the National Vaccination Plan The Colombian Ministry of Health and Social Protection (Minsiterio de Salud y Protección Social) declared the initiation of stage 2 of the National Vaccination Plan against COVID-19 for the population between 60 and 79 years of age. This does not mean that vaccination for those over 80 years of age will be stopped; these people will continue to be vaccinated without any interruption ...
If you are responsible for handling data subject requests made pursuant to the EU General Data Protection Regulation or verified consumer requests made pursuant to the California Consumer Privacy Act, chances are you have come across one or more of the myriad companies that purport to be advocating for consumers in making requests on their behalf. These companies include Mine, Privacy Bee, DeleteMe and Revoke ...
In February 2020, just prior to the COVID-19 outbreak, the Small Business Reorganization Act of 2019 (Subchapter V) took effect.[1] Subchapter V amends Chapter 11 of the Bankruptcy Code to allow certain individuals and businesses with debts of less than $2,725,625 to file a streamlined Chapter 11 case with the goal to make small business bankruptcies faster and cheaper ...
It has been said that, sooner or later, everything old is new again. In the wake of the novel coronavirus pandemic (COVID-19) sweeping the globe in 2020, a heretofore largely overlooked and even less understood nineteenth century legal term has come to the forefront of American jurisprudence: force majeure ...
Over the past month, the SEC has signaled the primacy of ESG in its mission for 2021 and beyond. Seemingly daily, there have been updates regarding ESG initiatives, whether from the Division of Enforcement or the Division of Corporation Finance. This week, it was the Division of Investment Management’s turn ...
Now that we have persevered through one year of the COVID-19 pandemic, much has been written about pandemic fatigue and associated social isolation, mental stress, and anxiety. Employers may be seeing an increase in the incidence of mental illness claims in their workplaces ...
As a reminder to our life sciences clients including drug manufacturers, medical device manufacturers, and group purchasing organizations, all Open Payments data from the 2020 program year must be reported to CMS by no later than March 31, 2021. Organizations that participate in the Open Payments program are also reminded that they must submit a final attestation that their data is timely, complete and accurate in addition to reporting data from fiscal year 2020 ...
U.S. capital markets are beginning to experience the effects of the passage of the Holding Foreign Companies Accountable Act (HFCAA). Amid continuing tensions between the United States and China, then-President Trump signed the HFCAA into law on December 18, 2020. The HFCAA was introduced in the United States Senate on March 28, 2019 by Senator John Kennedy (R-LA) and Senator Chris Van Hollen (D-MD). The HFCAA passed the Senate by unanimous consent on May 20, 2020 ...
On 14 March 2021, the law of 5 March 2021 on certain rules for the implementation of Regulation (EU) No 2019/1150 of the European Parliament and of the Council of 20 June 2019 on promoting fairness and transparency for business users of online intermediation services (the “P2B Regulation”) (hereinafter the “Law”) entered into force ...
Competition & Antitrust Resolution No. 237/2021 of the Secretariat of Commerce: New prices information regime for companies (SIPRE) By Agustín Waisman and Mercedes Pando Through Resolution No ...
The EB-5 Immigrant Investor Program is one that attracts its fair share of attention, not all of it good, and too much of it from organizations named with that part of the alphabet — SEC and DOJ — that can strike fear in the heart of a business person. And Texas is often the center of the investigators’ focus ...
The Court of Protection and Serious Injury Teams at Shoosmiths held a joint seminar ‘From Litigation to Deputyship’ on 11 March 2021. A recording of the webinar can be found below. The day comprised sessions on the litigation process, how to maximise settlement then looked in detail at the Case Manager’s role before moving on to sessions around how the deputyship team support clients and key areas of consideration when acting as a professional deputy ...
On 10 March 2021, we held the first webinar in our series on regional perspectives in international arbitration ...
In one of the latest and most high-profile decisions from across the country relating to commercial tenants’ rent obligations during the COVID-19 pandemic, the United States District Court for the Southern District of New York rejected an attempt by The Gap, Inc. (“Gap”) to excuse payment of such obligations due to the pandemic and related government restrictions ...
