1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? There is no bespoke legislation dealing with “pre-pack” restructuring or sale of the business or assets of an insolvent Cayman Islands company ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? Guernsey stands out against many offshore jurisdictions because it has a dedicated administration regime designed to facilitate corporate rescue. The procedure is broadly similar to that in the United Kingdom, albeit it has been simplified and tweaked to suit Guernsey’s finance industry ...
1. What measures are available in your jurisdiction to allow struggling businesses to enter into a “pre-pack”? Jersey does not have a formal administration regime and neither the Companies (Jersey) Law 1991 nor any other legislation provides for a specific rescue remedy equivalent or similar to administration. The one Jersey statutory route closest to administration is the remsie de biens ...
Article PDF On April 17, 2019, the Treasury Department released a second round of proposed regulations (the "4/19 Regulations") providing additional guidance on the implementation of the Opportunity Zone (“OZ”) tax incentive included in the Tax Cuts and Jobs Act. The 4/19 Regulations are taxpayer-friendly and expand upon (but in some cases modify) the guidance provided in the initial proposed regulations released on October 19, 2018 (the "10/18 Regulations") ...
Article PDF On April 17, 2019, the Treasury Department released a second round of proposed regulations (the "4/19 Regulations") providing additional guidance on the implementation of the Opportunity Zone (“OZ”) tax incentive included in the Tax Cuts and Jobs Act. The 4/19 Regulations are taxpayer-friendly and expand upon (but in some cases modify) the guidance provided in the initial proposed regulations released on October 19, 2018 (the "10/18 Regulations") ...
On April 1, 2020—the effective date of the Families First Coronavirus Response Act (FFCRA)—the U.S. Department of Labor (DOL) issued temporary regulations to interpret and enforce the landmark legislation passed by Congress “to assist working families facing public health emergencies” arising out of the COVID-19 pandemic ...
On August 23, 2023, the extracts from the minutes of the meeting of the Sub-commission of the Government Commission for Control over Foreign Investments in the Russian Federation No. 182/5 dated August 09, 2023, were published. (“Extracts No. 182/5”). The said Extracts No ...
On the morning of April 10, 2021, the State Administration for Market Regulation (“SAMR”) issued on its website an administrative penalty decision and an administrative guidance document against a major digital undertaking for abuse of its dominant position in the domestic digital retail platform services market due to its exclusive dealing behaviors, so-called “choosing one of two”. The administrative penalty imposed amounted to RMB 18 ...
On May 22, 2008, the Supreme Court of Canada rendered its decision in a case involving the notion of reasonable foreseeability in negligence actions. This judgment, written by the Chief Justice, confirms that tort law must compensate harm done on the basis of reasonable foresight, and must not be considered as insurance ...
“I’ve been involved in ESG and sustainability for over 20 years and in the last few years the focus has increased significantly,” says Rich Hall, Head of Sustainability at leading accountancy and professional services firm RSM, on the shift in perception of ESG-related risk within corporate organisations. “Even before the pandemic, we were beginning to see more commentary on ESG issues, mainly centred around the environmental side ...
On February 17, 2023, China Securities Regulatory Commission ("CSRC"), as approved by the State Council, released new rules for the filing-based administration of overseas securities offerings and listings by Chinese domestic companies ("New Filing Rules"). The New Filing Rules signal a new era of unified filing system for overseas offerings and listings by Chinese companies. We have summarized below five key points of the New Filing Rules for your quick reference ...
A government report on Shared Parental Leave (SPL) reveals a low take-up by eligible parents, with only 1% of eligible mothers and 5% of eligible fathers or partners taking it. What is SPL? SPL is a type of paid family leave that enables eligible employees to take flexible leave during the first year of their child’s life or the first year after adoption ...
With the recent and rapid spread of COVID-19 in the U.S., government contractors have already started experiencing contract performance delays, which inevitably will have a significant financial impact ...
Jersey offers a range of fund types and structures to suit the needs of sophisticated sponsors and investors including Jersey Private Funds, Notification Only Funds (also known as Eligible Investor Funds) and Collective Investment Funds (CIFs), such as Jersey Expert Funds and Jersey Listed Funds ...
Summary Main dispute resolution methods Court litigation Limitation periods Court structure Rights of audience Rights of audience/requirements Foreign lawyers Fees and funding Funding Insurance Court proceedings Confidentiality Pre-action conduct Main stages Starting proceedings Notice to the defendant and defence Subsequent stages Interim remedies Strike out Summary judgment Other circumstances Availability and grounds Prior not
Apparently, the OCR has a different concept of the holiday spirit than many others do. On December 22, OCR announced the 13th settlement agreement related to its Right of Access Initiative. This time, the provider settled for $36,000 and agreed to enter into a corrective action plan. This latest matter involved Peter Wrobel, M.D., P.C., d/b/a Elite Primary Care ("Elite"). The situation follows a very familiar pattern: a patient requested records but did not receive them ...
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Introduction The Covid-19 global pandemic which has swept the globe and caused many countries to introduce various degrees of lock down measures has given rise to various issues and scenarios which an employer must deal with and manage. This is no different for employers in Malaysia where the Government has implemented the Movement Control Order (“MCO”) since 18 March 2020 which saw the economic activity brought to a halt ...
The World Trade Organization (‘WTO’) has always been of the view that Indian export subsidy schemes like Merchandise Exports from India Scheme (‘MEIS’), Export Oriented Units (‘EOUs’), Service Export Incentive Schemes are principally in violation to the Subsidies and Countervailing Measures Agreement (‘SCM Agreement’) ...
For the first time, the Nasdaq has allowed common shares of a Canadian cannabis cultivator, Cronos Group Inc., to be cross-listed on the Nasdaq Global Market. This cross-listing for Cronos (TSX-V: MJN; Nasdaq: CRON) marks the first time a cannabis cultivator was allowed to list on any U.S. exchange. In 2015 and 2016, Nasdaq famously rejected the Colorado cannabis-focused social media company MassRoots Inc ...
A ‘Battle of the Forms’ commonly arises where each of the parties, in the course of the negotiation process, forwards to the other its own standard form of contract, with the aim of getting the other party to adopt such terms and conditions. The question as to which set of terms and conditions constitute the contract often depends on the ‘last shot’ – that is, which form of contract was the one last ‘fired’ to the counter-party ...
On August 18, 2015, the Tribunal administratif du Québec (TAQ) confirmed the decision of a health institution to not renew the status and privileges of one of its physicians after he refused to undergo refresher training to acquire skills that were necessary to perform his new duties.1 The physician in question, a hematology specialist, had been hired as a researcher several years ago ...
