The European Commission recently fined seven international company groups with a total fine of around 1.47 billion EUR for two distinct cartels related to cathode ray tubes (CRT) used in colour television sets and computer monitors. The investigation was initiated after a leniency application by one of the cartel members. The cartel concerned price-fixing, market-sharing, production quotas and prohibited information exchanges ...
In light of a recent federal court order, companies – especially those at risk of False Claims Act suits – should revisit their protocol for handling communications with in-house counsel. In United States ex rel. Baklid-Kunz v. Halifax Hospital Medical Center, a federal magistrate judge ordered Halifax Hospital to produce communications involving in-house lawyers in an ongoing FCA suit against the hospital ...
Employment Conditions of Foreign Workers (2) Share Ownership: An Overview (3) Certificate of Intellectual Property Pertaining to Software. Employers frequently resort to the use of foreign workers. In some industries, this is practically unavoidable. Faced with the new reality of foreign workers, many companies have questions about how to manage the workers they hire and the specific conditions applying to them ...
As we embark upon the season of goodwill, those wishing to embrace the Christmas cheer may wish to consider settlement of an ongoing commercial dispute bringing peace and goodwill to all - besides saving their business time and money in the process.Should you settle? Parties settle disputes for a variety of reasons ...
Coming as a surprise to some, the European Parliament approved rules creating a Unified Patent Court and a Unitary Patent on December 11, 2012, after lengthy consideration ...
With a law enacted on 17 December 2012, the Finnish parliament moved forward on the longstanding plan to house intellectual property rights disputes in the Market Court. This legislative reform has a significant impact for all companies operating in Finland. The Market Court will start to hear these disputes in the autumn of 2013 ...
On January 4, 2013, the United States District Court for the Northern District of Illinois, Eastern Division (the “District Court”) issued a Memorandum Opinion and Order1 that seems demonstrably at odds with the majority of cases analyzing the § 546(e) safe harbor provision.2 General Background Facts Sentinel Management Group, Inc ...
“The audit committee directly oversees management’s reporting of the company’s financial position and results to investors. Auditors validate. Naturally, both agents should support each other’s work with an open dialogue about how to protect investors from misleading or inadequate management reports.” - James R. Doty, PCAOB Chairman, PCAOB Open Board Meeting, Aug. 15, 2012 The Public Company Accounting Oversight Board (“PCAOB”) recently issued Auditing Standard No ...
The Scottish Courts: The largest volume of litigation takes place in the Sheriff Courts located throughout Scotland, which are similar to the County Courts in England & Wales in that they typically handle disputes which are relatively straightforward and low value ...
SummaryEffective January 1, 2013, companies that file Exchange Act reports with the SEC are required to identify whether their products contain certain "conflict minerals" originating from the Democratic Republic of Congo (DRC) and adjoining countries (an area comprising most of Central Africa) ...
Corruption is undoubtedly one of the biggest problems facing civil societies these days. It prevents naturalcompetition in a marketplace and makes goods or services more costly. It has a detrimental effect on themoral, legality and transparency in a society and is an enemy to democratic decision-making. By underminingpredictability in business transactions, corruption makes investments more hazardous and reduces growthand business opportunities ...
Effective January 1, 2013, companies that file Exchange Act reports with the SEC are required to identify whether their products contain certain "conflict minerals" originating from the Democratic Republic of Congo and adjoining countries (the Covered Countries) ...
SummaryEffective January 1, 2013, companies that file Exchange Act reports with the SEC are required to identify whether their products contain certain "conflict minerals" originating from the Democratic Republic of Congo (DRC) and adjoining countries (an area comprising most of Central Africa) ...
After the financial crisis hit the markets in 2008, small and medium sized enterprises ("SME") have found themselves at the sharp end of diminished access to credit. In their search for credit, they have turned to alternative forms of financing, such as crowdfunding. Last year around €300 million was raised through different types of crowdfunding. This amount is expected to increase significantly in 2013 ...
On 14 November 2012, the Minister of Manpower and Transmigration of the (“MOMT”) issued MOMT Regulation No. 19 of 2012 regarding Terms of Partial Assignment of Work to Third Party Companies (“Regulation No. 19”) Regulation No. 19 covers two types of outsourcing: business activity outsourcing (pemborongan pekerjaan); and manpower outsourcing (penyediaan tenaga kerja) ...
Amendments to Mining Business Regulation The Minister of Energy and Mineral Resources recently issued Regulation No. 24 of 2012 (“Regulation 24”) amending his Regulation No. 28 of 2009 on Organizing Coal and Mineral Mining Businesses ...
Here are select December 2012 rulings of the Supreme Court of the Philippines on criminal law and procedure: 1. REVISED PENAL CODE Rape; Pruna Guidelines ...
Here are select December 2012 rulings of the Supreme Court of the Philippines on commercial law:Corporations; liability of corporate officers. Settled is the rule that debts incurred by directors, officers, and employees acting as corporate agents are not their direct liability but of the corporation they represent, except if they contractually agree/stipulate or assume to be personally liable for the corporation’s debts, as in this case. Ildefonso S. Crisologo vs ...
On January 31, 2013, the Bankruptcy Court for the District of Delaware in In re Indianapolis Downs, LLC1declined to designate the votes of parties to a post-petition restructuring support agreement (i.e., a lock-up agreement), instead confirming the Debtors’ Modified Second Amended Joint Plan of Reorganization (the “Plan”) based on the votes of such parties ...
An expansion strategy doesn’t always need to be M&A driven. Hunton & Williams LLP partners Robert Acosta-Lewis and Susan Failla make the case for strategic alliances. When considering expanding into emerging markets, companies often look to traditional M&A oppor tunities or explore possible distribution or sales representation relationships. While both of these avenues may offer potential advantages, they also carry risks and limitations ...
President Obama recently signed an executive order focused on improving the security of the nation’s infrastructure from cyber attack. Borrowing concepts from failed legislative efforts, the executive order (“Order”) calls for increased information sharing between the federal government and the private sector and provides for the development of a voluntary cybersecurity program for owners and operators of critical infrastructure ...
For the first time, Texas rules permit a motion to dismiss. On February 12, the Texas Supreme Court released the final version of Texas Rule of Civil Procedure 91a, which (1) establishes procedures for dismissal of civil claims, and (2) provides for the mandatory award of attorneys’ fees to the prevailing party ...
Much has been written about the consequences of failing to establish a reasonable plan to preserve documents once there is a duty to preserve. However, surprisingly little has been written about when a party can resume its normal document retention and destruction policy. The good news is that eventually the litigation hold can be lifted; the bad news is that you may not be able to life the hold as soon as you would hope or like ...
Outside the work permit regime, there are two possible types of residency in TCI-a. Permanent residency (which frequently comes with the right to work); b. Shorter term residency. Permanent residency is now available only to those who have lived and worked in TCI for a stipulated period. Previously such residency was available to individuals who made a specific level of investment in TCI: since September 2012, that is no longer the case ...
There are several TCI legal entities regularly established for carrying out business either internationally or domestically. The registration process of these entities is comparatively straightforward and can usually be completed for a fixed cost and within a short timeframe and are often attractive options in TCI as an offshore financial centre with no corporate or personal income tax ...
