HARMONIZATION OF CLINICAL RESEARCH CONTRACTS IN QUEBEC OLGA FARMAN and MARIE-ÈVE CLAVET [email protected] [email protected] Over the past few decades, a high-quality system of research and innovation has been built in the Province of Quebec. The contractual research conducted by university-affiliated health-care institutions in Quebec has become a fundamental scientific, economic and social activity ...
As required under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the U.S. Securities and Exchange Commission (SEC) adopted rules regarding shareholder approval of executive compensation and “golden parachute” arrangements on January 25, 2011. See Release Nos. 33-9178 and 34-63768 ...
Earlier this month, the Court of Appeals of Texas, Third District, Austin, reinstated a “control person” claim under the Texas Securities Act (“TSA”) against Merrill Lynch Pierce Fenner & Smith Inc. related to a former broker’s allegedly fraudulent outside sales transactions. David Fernea v. Merrill Lynch Pierce Fenner & Smith, Inc., No. 03-09-00566-CV (Tex. App. –Austin, Jan. 7, 2011). Allegations ...
On January 24, 2011, the Commissioner of Competition (Canada) filed a notice of application with the Competition Tribunal for dissolution of a merger (or divestiture of assets or control) resulting from the completed merger of CCS Corporation and Complete Environmental Inc., the latter of which owns Babkirk Land Services Inc ...
Effective as of July 21, 2011, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) repeals a key exemption from investment adviser registration currently relied upon by many private fund managers and replaces it with several much more limited exemptions from registration ...
Blissfully unaware that its customer, a merchant, is on the brink of filing a bankruptcy petition, your client has delivered goods on credit. The likely unhappy result: when the customer files, your client is left holding a general unsecured claim, with little chance to be paid until the conclusion of the proceeding. That may be years down the road, and when it finally takes place may amount to no more than pennies on the dollar. But all may not be lost ...
Under the Texas Public Information Act, a “requestor” may file suit for a writ of mandamus compelling the release of public information. In The City of Dallas v. The Dallas Morning News, the Dallas Court of Appeals held that an employer has standing to file such a suit when its employee made the initial request. Reporters for the Dallas Morning News requested certain emails from the City of Dallas. The City claimed that the documents fell under PIA exceptions ...
st1/:*{behavior:url(#ieooui) } New Bank Indonesia Regulation on the Business Plans of BanksThe Governor of Bank Indonesia issued a new regulation concerning Bank’s Business Plans. This new regulation revokes the previous regulation except for certain provisions related to reports on the realization of Business Plans and reports on the supervision of Business Plans which remain valid until the end of the 2010 Business Plan reporting period ...
General Terms and Conditions for Contracts with Trustees for the Issuance of Debt InstrumentsBapepam-LK introduced a new regulation regarding the general terms and conditions for contracts with Trustees for the issuance of debt instruments, also known as Bapepam-LK Regulation No. VI.C.4. This regulation sets out the detailed terms and conditions that must be included in contracts with Trustees, including the roles and obligations of the Trustee ...
The U.S. Securities and Exchange Commission announced on December 20, 2010, that it entered into a non-prosecution agreement with Carter’s, Inc., an Atlanta-based provider of children’s clothing. This is the first non-prosecution agreement entered since the SEC announced its new cooperation initiative in January 2010 to encourage cooperation from corporations and individuals ...
Last week, the European Commission (“EC”) adopted revised rules for evaluating cooperation agreements between horizontal competitors at the same level in the supply/distribution chain. The Guidelines on the Applicability of Article 101 of the Treaty on the Functioning of the European Union to Horizontal Co-Operation Agreements (the “Guidelines”) provide a framework for analyzing common forms of cooperation agreements between competitors ...
Many companies know that the Public Procurement Act (Sw. abbr. LOU) regulates how contracting authorities act when purchasing supplies, services and public works. However, something less well known is that the provisions in LOU can also be of significant importance for how a public contract is handled after the procurement has ended and that the provisions in LOU can apply in completely different contexts, e.g. in conjunction with mergers, acquisitions and similar transactions ...
On 1 December, the Swedish Parliament resolved on the delayed legislative amendments to the Swedish Companies Act which, among other things, concern the mode of convening general meetings, on which we reported in previous newsletters (October 2009 and June 2010). The new rules take effect on 1 January 2011 ...
In Sweden, the directive has been implemented through amendments to the Medical Devices Act (1993:584), and through the regulation which the Medical Products Agency has issued in connection with this Act and the directive. The revised directive contains some clarifications but also some news ...
Public Service Review – Local Government and the Regions Recession breeds new rules and a new approach to procurement The recession and the need for public sector budget cuts have uncovered a twin track for procurement policy in the UK. There is a clear need to cut public sector expenditure – of that we can be in no doubt both in terms of the unit cost of supplies and services ...
In an October 19, 2010 opinion arising out of the Scotia Pacific bankruptcy cases, the Fifth Circuit ruled that reorganized Scotia and its affiliate Pacific Lumber Company were obliged – nearly 2½ years after Scotia’s reorganization plan was consummated – to pay Scotia’s former secured lenders approximately $30 million on account of a mistake made by the bankruptcy judge in calculating the amount owed to the secured lenders for the use of their collateral during the bankruptcy cases ...
Introduction From the seller's perspective, knowing the outcome of the sale process in terms of the price that it will obtain for a company is always of great importance. Usually, a buyer will make an offer to buy a company on a 'cash and debt-free' basis, meaning that the purchase price offered (ie, the enterprise value) will be adjusted up or down depending on the company's financial position at a given time to reach the actual purchase price ...
The concurring opinion in a recent Third Circuit Court of Appeals case1 suggests that trademark licensees may be able to retain their rights in bankruptcy cases, even if licensors reject the license agreements. The majority did not consider whether the licensee could retain its rights. Instead, the majority held that the trademark license was not an executory contract; therefore, it could not be rejected under the Bankruptcy Code ...
Are you planning to carry out a transaction? Does it involve a party that is related to your company? If so, you may be forced to obtain an independent valuation and the approval of your minority shareholders, file a geological report, and disclose detailed information. The costs engendered by these requirements can escalate rapidly or turn into a procedural nightmare that could considerably delay your transaction ...
On September 30, 2010, in In re American Safety Razor, LLC, et al., Case No. 10-12351 (MFW), the United States Bankruptcy Court for the District of Delaware ruled that the debtors’ proposed bid procedures for the sale of the business were unfair and unreasonable. The bid procedures, among other things, provided too much discretion to the debtors in the auction process. 363 Sales in General Section 363 of the Bankruptcy Code provides authority to sell a debtor’s assets ...
On October 5, 2010, Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois (the “Bankruptcy Court”) issued a ruling in the River Road Hotel Partner LLC, et. al. (the “Debtors”) bankruptcy cases denying the Debtors’ bid procedures motion incident to plan confirmation. The bid procedures motion, among other things, sought the denial of secured creditor’s right to credit bid ...
On Monday, in Versata Enterprises, Inc. and Trilogy, Inc. v. Selectica, Inc ...
Charitable fundraising activities in multiple states—and even in multiple cities, municipalities, and counties within Texas—can potentially create a compliance risk. Although not regulated by the IRS, many state and/or local authorities have adopted charitable solicitation registration and reporting requirements. In addition, the revised Form 990 requires a disclosure regarding compliance with state rules ...
On October 4, 2010, less than six weeks after approving new rules to facilitate shareholders’ rights to nominate directors, the SEC postponed the effectiveness of the rules. As a result of this postponement, in the upcoming proxy season companies most likely will not have to address the new shareholder proxy access rules. In the Order granting the postponement, the SEC granted a request by the Business Roundtable and the U.S ...
