As we near the second year of the COVID-19 pandemic, trademark maintenance deadlines in 2021 create new obstacles for registrants. To maintain a federal trademark registration, registrants must periodically file an affidavit of use under Section 8, swearing that the mark is in use in commerce or that the registrant has an acceptable excuse for nonuse. Recent office actions show that the U.S ...
On January 16 last, the Supreme Court of Canada refused to grant leave to appeal by Lombard following a judgment rendered on June 20, 2013 by the Ontario Court of Appeal.1 This decision deals with the issue of overlapping excess and umbrella policies. THE FACTS In January 1995, an apartment building was destroyed by fire. Six people died and many others were injured ...
The Economic Crime (Transparency and Enforcement) Act received Royal Assent on 15 March 2022. Its effects will be felt far and wide across the UK real estate industry. We explained in our article Economic Crime Bill – what it means for real estate, that the aim of the new Act is to crack down on foreign criminals using UK property to launder money ...
It is apparent that the Covid-19 pandemic has had a tremendous impact on every business sector. Above all, the hospitality industry has taken the hardest hit, as tourism is its primary source of revenue. Due to a lack of financial liquidity and growing expenditure, it is not an overstatement to predict that real estate owners in the hospitality sector would be compelled to sell their operating assets potentially at an unfavorable price in order to survive during this challenging time ...
In passing the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES), Congress provided much-needed relief to project owners by making it easier to modify construction loans. Under the Act, an owner may qualify for a forbearance arrangement, an interest rate modification, or a repayment plan, among other options, and the modification does not adversely impact the credit of the borrower ...
Attorneys and Government Policy Advisors in Dykema's Infrastructure and Project Finance Practice Area, seek to keep our clients and contacts abreast of pending legislation, new developments and other topics. Our intent is to provide you with timely, relevant, and useful information that will help you with your business goals ...
Parallel debt is a legal concept applied in international financing transactions that involve multiple lenders. In order to simplify the administration of security (for example, to avoid the need for retaking or reregistering security for a fluctuating group of lenders) and to reduce costs, the banks select a single entity from among them to administer the security ...
In November, California voters narrowly passed Proposition 19, which makes significant changes to existing real property tax reassessment rules. Effective after Feb. 15, 2021, Proposition 19 significantly restricts property owners' ability to preserve the current assessed value of California real property transferred between parents and children. Effective Apr ...
Overview Persons undertaking "credit business" will need: a licence to do so (a "Part II Licence"); and to be regulated by the Guernsey Financial Services Commission (the "Commission") ...
The recent anti-suit injunction decision in Axis v Absa Group demonstrates the importance of considering the practical effect of jurisdiction clauses when a suite of contracts or (re)insurance policies are entered into ...
Shoosmiths' Judy Fawcett reflects on a roundtable the firm hosted in November 2023 - examining the partnerships model and the role it plays as part of the UK's living sector. “That’s the way we look at doing business. It is creating that partnership, relationship, that trust. And, hopefully that works both ways,” said Gwynn Thomson, investment director at Sigma Capital Group, during a roundtable Shoosmiths hosted in November 2023 ...
The last thing any tenant wants to face is a costly bill for repairs to their rented commercial property. That is why many potential occupiers seek to include some exclusion on the repairing clause, protecting them from what is an otherwise onerous obligation. While this is the primary means of limiting liability, other options also exist ...
[!<CDATA[ A recent decision by the Eleventh Circuit (the federal appeals court supervising trial courts in Florida, Georgia, and Alabama) sheds light on at least one way that insurers with complicated policies (and a host of exclusions) may avoid providing coverage and defense resources to insured material suppliers whose products are the focus of defect claims. In Morgan Concrete Company v ...
On December 11, 2018, Pennsylvania Auditor General Eugene A. Depasquale released a long-awaited report discussing the role of pharmacy benefit managers (PBMs) in Pennsylvania’s health care system ...
The Supreme Court of Canada issued its reasons today in Krayzel Corp. v. Equitable Trust Co., 2016 SCC 18, adding some clarification to a mortgage lender’s right to protect itself from the increased commercial risk associated with a defaulting mortgagor through the use of interest rates, given s. 8 of the Interest Act which reads as follows: "No fine, etc ...
Legislation in Florida may soon change the time property owners have to file construction-related lawsuits. Both the Florida Senate, with SB 360, and the House of Representatives, with HB 85, passed identical bills and recently converted them into an Act to be presented to the Governor. If signed into law, the Act would revise the lawsuit “triggering actions” in section 95 ...
In this article, Tang Yen Yi examines the PENJANA Short-Term Economic Recovery Plan in relation to the property sector. During these unprecedented times of a global pandemic due to COVID-19, the Government of Malaysia announced the recovery plan for the country’s economy: PENJANA Short-Term Economic Recovery Plan (“PENJANA”).PENJANA includes plans to stimulate the economy with incentives for real estate transactions ...
A federal district court judge in Pennsylvania ruled that first-party property claims for damages due to defective stucco arose from a single occurrence and, upon determining the date of loss, held that the coverage claims were barred by the insurance contract’s two-year suit limitations period. Smith, et al. v. Westfield Insurance Co., No. 06-3077; 2007 U.S. Dist. LEXIS 87431 (E.D. Pa. November 27, 2007) Case Background ...
At a news conference on April 20, Governor Wolf announced he is extending his stay-at-home order until May 8, 2020. But in a nod to a construction industry that has been particularly hard-hit by the Governor’s shutdown and stay-at-home orders, Governor Wolf said he also will permit construction (both residential and non-residential construction) to resume throughout the Commonwealth on May 8, 2020 ...
Beginning July 1, 2020, Pennsylvania’s Act 46 of 2019 (Act 46)[1] will require most Pennsylvania health insurers to cover medication synchronization services (MedSync) provided to patients taking two or more maintenance medications (i.e., medications for chronic long-term conditions, including diabetes, high blood pressure, and heart disease) ...
On Dec. 11, 2021, The Pennsylvania Department of Drug and Alcohol Programs will issue final regulations launching a new licensure and certification process for drug and recovery homes doing business in the Commonwealth of Pennsylvania. Each individual drug and recovery home operating in Pennsylvania must obtain a license and demonstrate compliance with the final regulations within 180 days of their issuance ...
Pension funds: hedging longevity risk Bulk Annuities Market Recent hikes in interest rates have led to huge increases in the funding levels of many UK defined benefit pension schemes (DB Schemes). Now they are in surplus, many DB Schemes are considering a bulk annuity transaction or "buy-in". As a result, the bulk annuity market is booming ...
In case C-323/17 People Over Wind and Peter Sweetman v Coillte, the Court of Justice of the European Union (CJEU) ruled that mitigation measures could not be taken into account at the screening stage of an appropriate assessment. Facts This case focused on proposed works that were necessary to lay a cable connecting a wind farm to the electricity grid and the potential effects that this would have on two special areas of conservation ...
