Freezing orders are one of the most important weapons inacourt’s arsenal to prevent parties from disposing of or dissipating assetsto ensure they will be available to satisfy a potential future money judgment. In the British Virgin Islands, the court is empowered to grant a freezing order under the provisions of the Eastern Caribbean Supreme Court and the Civil Procedure Rules ...
Near the end of 2007, the United States was hit by the subprime mortgage market meltdown. For years before, the public had experienced a steady increase in home prices and a seemingly never-ending supply of mortgage lending. Homeowners were able to enjoy ever-increasing home equity and mortgage products, virtually guaranteeing that anyone who wanted to get financed could ...
Kochhar & Co. Senior Partner, Suhas Srinivasiah, and Principal Associate, Ajay G Prasad, have co-authored the India chapter of the ‘Private Mergers & Acquisitions’ published by Practical Law, Thomson Reuters. The paper provides a holistic view of the M&A law in India and recent trends in the private M&A space” ...
In December of 2019, the State of Ohio Board of Pharmacy (“Board”) proposed rule changes for medical marijuana dispensaries. These proposed rule changes came on the heels of increased regulatory scrutiny of ownership structures and consulting arrangements in recent months.1 The proposed rules ostensibly seek to revise and clarify the Board’s position on changes of ownership and control of medical marijuana dispensaries ...
The Indonesian competition authority, the Indonesian Commission for the Supervision of Business Competition (the “KPPU”) issued Regulation No.4 of 2019 on the Procedures for the Supervision and Handling of Partnership Cases (“Reg 4/2019”). This regulation replaces No.1 of 2015 on the Procedure for the Supervision of Partnerships, as amended, and Regulation No.1 of 2017 on the Procedures for Handling Partnership Cases, as amended (“Old Regulation”) ...
With the UK currently due to leave the EU at the end of this month, Brexit may cause the construction industry a continuing period of uncertainty in 2020 but the government’s agenda may also provide increased opportunities. We look ahead at what this year may have in store. Brexit The top priority for the government is delivering the UK’s departure from the EU on 31 January. How Brexit will affect the construction industry remains open to speculation ...
Oh what a year it has been. 2019 has been a rollercoaster ride: Trump accelerates and then suddenly slams on the brakes on his tit-for-tat trade war with China. Hong Kong, hitherto the paradigm of pragmatism, lies smouldering as months of pro-democracy protests see no end. A Swedish girl (celebrating her 17th birthday just last Friday) becomes the unlikely face of environmentalism, shaming Boomers for doing nothing about climate change in front of the UN ...
With a new year comes changes. And one change is a law tying business license applications to California's water quality laws. Beginning January 1, 2020, Senate Bill 205 will require that certain applicants for either a new business license or a renewal from cities or counties show that they are complying with the federal Clean Water Act and California's Porter-Cologne Water Quality Control Act ...
After five long years since the issuance of Law No.7 of 2014 on Trade (the "Trade Law"), the Government of Indonesia finally issued an implementing regulation on e-commerce on 20 November 2019, through Government Regulation No. 80 of 2019 on Trade through the Electronic System ("GR 80/2019"). This regulation is part of the Government's efforts to encourage internet-based transactions and trading as part of making Indonesia 4.0. GR 80/2019 has 19 chapters and an extensive scope ...
The U.S. Department of Justice (DOJ), National Security Division (NSD), recently published updated[1] policy guidance, effective immediately, for companies considering whether to voluntarily self-disclose potentially criminal violations of U.S. export control and sanctions statutes.[2] The policy, dated Dec ...
Recent enforcement actions initiated by the Bureau of Industry and Security’s (“BIS”) Office of Antiboycott Compliance (“OAC”) serve as a warning to U.S. persons (including U.S. companies) with business interests in and around the Middle East. It is easy for the complacent to run afoul of OAC’s Antiboycott Regulations when evaluating and responding to otherwise routine documents such as a letters of credit, shipping certificates, or purchase orders ...
In the modern era, most construction contracts incorporate insurance requirements as a primary means to address the risk of unexpected occurrences that are inherent to the construction industry. Some insurance, like workers’ compensation coverage, may be required by law. Other insurance coverage may be required by a lender or other financing party in order to close on the construction loan for a project ...
On December 19, 2019, the U.S. Treasury Department and the IRS issued final regulations (T.D. 9889), which provide much-anticipated guidance on tax-favored qualified opportunity zone investments. The 544-page regulation package generally retains the same approach and structure of the proposed regulations issued in October 2018 and April 2019 (prior Hanson Bridgett analysis available) ...
As we approach the end of 2019, we look back on the requirement introduced by the Companies (Miscellaneous Reporting) Regulations 2018 (Regulations) for very large private companies to make a statement about their corporate governance arrangements. This statement relates to financial years beginning on or after 1 January 2019 and as we head into 2020, the new year will bring with it the start of the first actual reporting period under the Regulations ...
The DIFC has provided slightly more clarity as to how UAE Cabinet Decision 31 of 2019 (the Economic Substance Regulations, or ESR) will apply within Dubai’s financial free zone. Helpful as the guidance is, significant questions remain. The DIFC held a presentation on 17 December to discuss the Economic Substance Regulations. The first point of note was that all businesses in the DIFC must file an ESR notification by 31 March 2020 ...
Data protection in the United States is about to undergo a major change, and everyone needs to be ready. The California Consumer Privacy Act (CCPA), signed into law June 28, 2018, enters into effect Jan. 1, 2020. It creates several new obligations for many United States-based businesses with regard to the collection, treatment, and sale of personal information ...
For decades, patent owners who appealed refusal of their sought-after registrations with the United States Patent and Trademark Office (USPTO) were responsible for their own costs, fees and certain expenses incurred by the USPTO (e.g. travel expenses, expert fees and copying), as required by Section 145 of the Patent Act (35 U.S.C §145) ...
On Dec. 3, 2019, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of Currency (OCC) in conjunction with the Conference of State Bank Supervisors (CSBS) issued a joint statement entitled “Providing Financial Services to Customers Engaged in Hemp-Related Businesses ...
As part of President Jokowi Widodo’s plan to issue “investment friendly” regulations, the Ministry of Public Works and Housing (“MPW”) revoked MPW Regulation No. 09/PRT/M/2019 on Guidelines on Licensing Services for Foreign Construction Business Entities (“MPW Reg 9/2019”) on 18 November 2019 under MPW Regulation 17/PRT/M/2019 (“MPW Reg 17/2019”) ...
The California Consumer Privacy Act (CCPA) becomes effective on January 1, 2020. As the CCPA deadline looms, businesses need to act now to be ready. In this article, we provide an overview of the CCPA, key changes to the final law, and steps businesses can take to be ready for the CCPA ...
On November 5, 2019, the U.S. Department of Justice (DOJ) Antitrust Division announced the establishment of a Procurement Collusion Strike Force (PCSF) to deter, detect, investigate, and prosecute criminal schemes that undermine the integrity of the government procurement process. One of the highlights of the PCSF is to reprioritize prosecutions of cartel conduct after a several-year decline ...
