On Tuesday, March 24, 2015, the Supreme Court issued its decision inOmnicare Inc. v. Laborers District Council Construction Industry Pension Fund, 575 U.S. __ (2015). The ruling identifies two avenues by which a company’s statements of opinion in registration statements for initial public offerings can lead to liability under Section 11 of the Securities Act of 1933 ...
In a monumental decision, today the United States Supreme Court ruled that Trademark Trial and Appeal Board (“TTAB”) decisions carry preclusive effect in subsequent federal district court decisions so long as the ordinary elements of issue preclusion are met. The ruling implicates that, where use is the “paramount” issue in a court case, a TTAB decision that at least peripherally contemplates marketplace use will have preclusive effect ...
“Families that play together, stay together”. That’s what my late grandfather always used to say. But what does his message have to do with developing business opportunities in a law firm? In my opinion, everything. Business development is about people. It’s about relationships. Not just momentary relationships, but committed relationships. Relationships one would most likely find in a family. What unites a family and makes it strong? Trust, common values and support ...
This guide provides general commentary and direction to prospective purchasers of property in the BVI. It is not a substitute for professional advice which will take account of individual specific circumstances, and should not be taken as legal advice. No responsibility can be accepted by O’Neal Webster for any loss occasioned by a person or organisation acting or refraining from acting on the basis of this information ...
On January, 22, 2015, in thematter of Betteto Frett v National Bank of the Virgin Islands[i](theBank), the BVIHigh Court reinforced the principle that injunctive relief would not be easilygranted against a bank validly exercising its power to sell real property usedas security for bank loans ...
Goodyear Tire & Rubber Co. recently agreed to pay $16.2 million to settle Foreign Corrupt Practices Act (“FCPA”) charges for conduct related to two subsidiaries in sub-Saharan Africa. Goodyear’s settlement highlights the government’s expansive interpretation of the books and records provision under the FCPA ...
In a recent judgment on the merits, the president of the Brussels Commercial Court held that the X shape of Mars's Dentastix dog food (see Figure 1 below) constituted a valid three-dimensional (3D) Community trademark and a valid Benelux design. Both IP rights had been invoked cumulatively against a Belgian company commercialising similar X-shaped chew sticks for dogs (Figure 2) on the European market.
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On 19 February 2015, the Financial Services Commission removed restrictions on the use of the following words in the names of BVI Business Companies – 1.“BVI”;2.“British Virgin Islands”;3.“Council”;4.“Ntl”;5.“Int”;6.“Intl”;7.“VI”; and 8.“Virgin Islands” ...
Last week, President Obama issued an executive order promoting cybersecurity information sharing. Specifically, the executive order directs the Secretary of Homeland Security to encourage the development and formation of Information Sharing and Analysis Organizations (ISAO) ...
The Parliament passed a bill on halal products in September 2014 and on 17 October 2014 the President enacted the bill as Law No. 33 of 2014 on Guaranty for Halal Products (Law 33 of 2014). Law 33 of 2014 requires that all products imported, distributed, or traded in Indonesia bear a halal certificate ...
On January 13, 2015, New Mex Canada Inc. ("New Mex"), an Ontario corporation and employer in that same province, was sentenced to pay a fine of $250,000 while two of its officers each received 25-day prison terms after pleading guilty to several offences under the Ontario occupational health and safety legislation and regulations. The proceedings were instituted following a workplace accident in which a worker died after a fall ...
On February 11, 2015, Supreme Decree No. 2264 was enacted to establish the Productive Development Bank, as the entity in charge of recording unconventional collateral offered by productive entities. This will allow rural and non-rural producers to gain access to productive credit that had previously been inaccessible because of a lack of conventional collateral. Newly enacted regulation, set forth by Supreme Decree No. 2264 (“S.D ...
An amendment to the Competition and Consumer Protection Act went into force on 18 January 2015. The changes are sweeping.The Act of 10 June 2014 Amending the Competition and Consumer Protection Act and the Civil Procedure Code was published on 17 July 2014 and went into force six months later, on 18 January 2015.Below we review some of the key changes introduced by the amending act, which we also reported on several times during the course of the legislative process ...
The False Claims Act, 31 U.S.C. §§ 3729, et seq. (“FCA”) continued to be a significant focus of government and whistleblower activity in 2014. This 2014 False Claims Act Year in Review highlights key developments, including: statistics showing that the rate of FCA filings remains very high, with the number of suits filed by whistleblowers exceeding 700 for the second year in a row,a report by the U.S ...
Strategically located between Europe, Africa and Asia, the United Arab Emirates (the “UAE”) has become a hub for trade and commerce throughout the world. In order to further encourage foreign investment, more than 20 free zones have been established across Dubai and focus on a wide range of business sectors, ranging from manufacturing to technology. Free zones offer a number of advantages to foreign businesses, including zero taxation, repatriation of profits and 100% foreign ownership ...
Consumers that filed a class action against Target Corporation following the company’s 2013 payment card breach have survived a motion to dismiss ...
The Philippines section of The International Capital Markets Review 5th Edition contains an introduction to The Securities Regulation Code; The Securities and Exchange Commission; self-regulatory organizations, exchanges, clearing agencies and depositories; recent jurisprudence; developments affecting debt and equity offerings; developments affecting derivatives, securitizations and other structured products; cases and dispute settlement; relevant tax and insolvency law; other relevant laws an
A recent decision by a New Jersey bankruptcy court scrambles the law regarding rejected trademark licenses.1 Crumbs was a multi-location bakery that also licensed its trademarks and trade secrets to third parties. In July of 2014 Crumbs filed a Chapter 11 reorganization case and in August of 2014 the court entered an order selling substantially all of the assets of Crumbs to LFAC2 free and clear of liens, claims, encumbrances, and interests ...
In a case that should cause lenders heartburn, the United States District Court for the Western District of North Carolina recently ruled that common provisions in a Chapter 11 plan prevented the debtor’s lender from executing on a judgment against the non-debtor owner of the debtor.1 Biltmore is a corporation2 that operates manufactured home parks and sells and rents manufactured homes. McGee is the president and controlling shareholder of Biltmore ...
New breaches of individuals’ personally identifiable information (“PII”) are announced every week, but so far plaintiffs have had limited success in pursuing class actions against breached companies because they usually cannot plead injury-in-fact sufficient to establish standing ...
Three recent Foreign Corrupt Practices Act (“FCPA”) enforcement actions underscore the Department of Justice (“DOJ”) and the Securities and Exchange Commission’s (“SEC”) focus on prosecuting companies and individuals for improper gifts, meals, travel, and entertainment provided to foreign officials. Avon Products, Inc ...
The Parliament of the Republic of Serbia has adopted a Law on the Protection of Whistleblowers (the “Law”). The Law, which was adopted on 25 November 2014, will become applicable on June 5, 2015. This is the first time that Serbia has a law which should systematically and comprehensively provide effective protection to individuals who report suspicions of corruption ...
Two groups of former Sony employees filed putative class actions this week arising from the company’s recent data breach. Two former employees filed a putative class action in California federal court alleging Sony failed to secure the company’s computer network from hackers who were able to access employees’ confidential personal information. (The hackers were confirmed yesterday to be affiliated with the North Korean government ...
SyCip Salazar Hernandez & Gatmaitan contributed the Philippine section of Deacons’ Marketing Private Funds and Discretionary Account Services: Asia and Beyond. The Philippine section was contributed by SyCipLaw’s senior partner Rafael A. Morales.The publication aims to assist asset managers in capital-raising and marketing activities ...
Download a free copy of the Philippine section of The International Capital Markets Review2015, which was contributed by the SyCipLaw partner Maria Teresa D. Mercado-Ferrer with associatesJoan Mae S. To and Earla Kahlila Mikhaila C. Langit.Reproduced with permission from Law Business Research Ltd. This article was first published in The International Capital Markets Review – Edition 4 (published in November 2014 – editor Jeffrey Golden) ...
