May 24, 2023 By: Peter McGaw When Potentially Responsible Parties (PRPs) settle CERCLA cases, they want finality. They don't expect to be asked to pay a second time for a claim they have already resolved by settlement. However, a concurring opinion in a recent Ninth Circuit decision casts doubt on the ability of a PRP to achieve finality through settlement. The Ninth Circuit’s decision in GP Vincent II v Beard was issued on May 17, 2023 ...
Contents Please click on the links below to jump to the relevant section: Overview Guarantees Collateral Security Financial assistance Syndicated Lending/Agency/Trustee/Transfers Withholding, stamp and other taxes; notarial and other costs Judicial enforcement Bankruptcy proceedings Jurisdiction and waiver of Immunity Licensing LIBOR replacement Other matters Overview What are the main trends/significant developments in the lending markets in your jurisdiction? As in o
Anecdotally, we are hearing that interim relief applications are on the rise. In this article we give employers the low down on what an application for interim relief actually is and why they should be on the lookout for them ...
The Charities Act 2022 is being introduced in phases. From June 2023 trustees will have greater flexibility over how they procure advice to ensure the terms on which they dispose of a charity’s interests in land are the best that can reasonably be obtained. Voluntary Service Overseas is one of the latest major charities to scale down its office space as it responds to the long-term changes resulting from Covid-19 ...
BT announced earlier this week that it plans to cut between 40,000 and 55,000 jobs by 2030. It expects around 10,000 of these roles to be replaced by AI, particularly in customer services. BT’s recent announcement is a reminder that increased use of AI is now a key board agenda item, with businesses exploring whether they can increase efficiency and improve operations by investing in generative AI ...
Employment and immigration specialists Emma Morgan and Amy Leech look at the immigration considerations that arise in redundancy situations, acquisitions and insolvency procedures. A recording of the webinar is below along with a summary of key takeaways. In current economic conditions, with the cost of living rising and the effects of the pandemic still lingering, businesses are having to look at ways to make cuts and reduce costs ...
Open Finance is becoming a pivotal element in the evolution of the European Union’s regulatory framework for payment services, most notably embodied in the anticipated Third Payment Services Directive (“PSD3”) ...
May 23, 2023 By: Alison Pear Regulation A “Plus” is an exemption from registration under the Securities Act of 1933 that permits certain eligible issuers to conduct public offerings of up to $75 million in a 12-month period to accredited and unaccredited investors ...
In the last few months, the UAE authorities have introduced a number of measures intended to increase the number of UAE nationals who are employed in the private sector. The Emirati Cadres Competitiveness Council (Nafis) program, originally established in 2016 with the aim of attracting UAE nationals to the private sector, has been reinvigorated ...
In a welcomed change to a class certification process that has long favored plaintiffs, the Sixth Circuit’s May 19, 2023 decision in Clark/Holder v. A&L Homecare and Training Center, LLC adopts a new standard for certifying Fair Labor Standards Act collective actions. In doing so, the Sixth Circuit becomes just the second appeals court to reject district courts’ use of the common two-step procedure for collective action certification ...
Overview The Law on Trusts promulgated on 2 January 2019 provides the legal framework for the creation, registration and inspection of trusts in Cambodia. To facilitate the implementation of the Trust Law, the Trust Regulator on 3 November 2022 issued Prakas 051 on the Formalities and Procedure for Inspection of Trusts (“Prakas 051”). Prakas 051 applies to the inspection of activities and operations related to the trust sector in Cambodia ...
Progression of developments in technology have always led to impacts on the general workforce. With increased international focus on the speed of AI development and use, what could the impacts be of AI be on today’s workforce? The BBC have recently covered that “a March 2023 report from Goldman Sachs estimated that AI capable of content generation could do a quarter of all the work currently done by humans ...
The Directorate of Investment and Company Administration (“DICA”) has issued an undated notice where it has listed the documents that all DICA registered companies are required to submit to DICA to obtain its approval to repatriate foreign currencies out of Myanmar (the “Notice”). We understand from the Notice that it applies only to DICA registered companies ...
The Chartered Institute of Personnel and Development (CIPD) has issued a report which provides guidance on supporting employees who are experiencing fertility issues. The report surveyed 300 workers who experienced difficulties with fertility while in employment within the last five years, as well as over 2,000 senior HR professionals and decision makers ...
As a matter of important update that may impact potential and scheduled payments of dividends, interest, royalties and other similar “passive types” of income from Russia, please be informed that on 18th of May 2023 Russian Media has announced that Double Tax Treaties (the “DTTs”) with “Unfriendly States” will be temporarily suspended by the Presidential Decree in June 2023 ...
The government of Vietnam issued Decree No. 19/2023/ND-CP dated 28 April 2023 (“Decree 19”) to provide guidance for the Law on Anti-Money Laundering. Decree 19, effective as of its issuance date, includes the following: Details on Know Your Client (“KYC”) Decree 19 sets out the specific situations in which financial institutions must carry out KYC procedures ...
The Supreme Court on 10 May 2023 considered whether damage caused by an oil spill in 2011 could constitute a “continuing nuisance” – and so extend the limitation period for a claim ...
The recent sanction judgment gives important guidance on the way in which the court's discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own ...
We look at what employers should consider when dealing with a data subject access request ('DSAR') made when tribunal proceedings are involved. The obligations to comply with a DSAR and disclosure in litigation are governed by two distinct processes. DSARs As part of their privacy rights an employee has the right to request from their employer a copy of their personal data, through making a DSAR ...
In the Industrial Tribunal case with number 3945/CC, the applicant, a Chief Operating Officer and Director, engaged with Amicorp Fund Services Malta Ltd, was dismissed by means of a letter of termination due to the fact that, according to the defendant company, he was not properly performing his functions. The Tribunal commented that the case was a particular one since it dealt with senior management, in which cases usually an amicable termination is arrived at ...
In its recent judgement in Re Avanti Communications Ltd [2023] EWHC 940 (Ch) ('Avanti') the High Court decided that in some circumstances a charge can take effect as a fixed charge despite the chargor having some flexibility to dispose of assets without the consent of the charge holder. Background A charge expressed to be a fixed charge may be at risk of being re-characterised by a court as a floating charge if the charge holder fails to exercise sufficient control over the assets ...
While the unusual circumstances in the Tate Gallery case attracted plenty of press coverage for its consideration of nuisance in terms of overlooking, it is still business as usual for developers where rights of light are concerned ...
