The music, film and broadcast industries look set to get the robust protection from illegal peer-to-peer (P2P) file-sharing they crave, as the Digital Economy Bill moves closer to becoming law. It passed its third reading at the House of Commons on 7 April ...
Maintaining cash flow is a significant challenge in the current economic climate. What started as a 'credit crunch' is now a real squeeze for business - with customers trying to defer payment terms while suppliers apply pressure for earlier payment. Pre-contract Truly effective credit management begins at the pre-contractual stage, as this is usually the point of greatest leverage with the customer ...
The Quebec Court of Appeal issued a judgment concerning the right of a general partnership (“S.E.N.C.”) to file for assignment under the Bankruptcy and Insolvency Act (the “BIA”) without its partners having also filed for the assignment of their assets, themselves ...
On April 16, 2010, the Quebec Court of Appeal issued a judgment concerning the right of a general partnership (“S.E.N.C.”) to file for assignment under the Bankruptcy and Insolvency Act (the “BIA”) without its partners having also filed for the assignment of their assets, themselves ...
a recent Superior Court decision rendered in the Province of Quebec is of interest. This decision rendered by Judge Jean-François Emond, sitt ing in Bankruptcy division for the Superior Court in the District of Quebec City, deals with a Progress Payment Agreement and a Mast er Lease Agreement between a financing company, Maxium Financial Services Inc. (hereinafter: “Maxium”) and a golf cart rental company, Desrosiers Golf Inc. (hereinafter: “Desrosiers”) ...
Which group of creditors is entitled to the money held by a monitor for purposes of carrying out a plan of arrangement under the Companies’ Creditors Arrangement Act (“CCAA”) when the debtor goes bankrupt prior to the distribution: only the creditors covered by the plan of arrangement, or all of the creditors, even those not covered by the plan, for example, subsequent creditors? This controversial issue was considered by Judge Jean-Yves Lalonde in
The financial crisis of 2008 and the subsequent recession have taken their toll on the funding of all infrastructure projects and the renewable energy sector has not been immune to its effects. Banks and public finance institutions were increasingly reluctant to advance loans for projects, as preserving capital resources became critically important to help ensure their survival in the financial and economic maelstrom ...
An almost universal feature of commercial loan agreements is the inclusion of representations and warranties regarding the financial statements and condition of the borrower. A recent case examined whether under New York law, sophisticated lenders can reasonably rely upon such representations in asserting claims of fraud instead of being required to make an independent investigation into the books and records of the Borrower. In DDJ Management LLC, et al v. Rhone Group L.L.C ...
The U.S. Department of Health and Human Services, the U.S. Department of Labor and the U.S. Department of Treasury have released another set of interim final regulations (the “IFR”) regarding the coverage of preventive care without cost sharing. As with all guidance, the IFR cannot be considered in isolation ...
The hospital has lost lengthy legal proceedings about the uninsured patients from the governments of the Netherlands Antilles and Curaçao. The governments are not obligated to write a “blank check”, as it were, for the costs Sehos had to incur for uninsured persons that cannot be recovered, according to judge Van Schendel yesterday ...
Hunton & Williams announced today the launch of its new website — the Hunton & Williams Health Care Reform Center, huntonhealthcarereform.com ...
Due to the effects of the recent economic crisis, the need arose to make it easier for insolvent companies to continue their business through a restructuring. Up until now there has been the Bankruptcy Act (Konkursordnung – KO) alongside with the Composition Act (Ausgleichsordnung - AO) in Austria ...
After decades of debate, US healthcare reform became a reality in 2010 when President Obama signed the Patient Protection and Affordable Care Act (ACA) in March. Yet public opinion remains sharply divided on the merits of this sweeping legislation, both in terms of its ability to address the problems of access to, and the rising cost of, healthcare services and in terms of the financial burden on the federal and state governments of implementing ACA ...
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 ...
As part of the Medicare hospital outpatient prospective payment system and ambulatory surgery center payment system final rule for calendar year 2011 (the “Final Rule”), the Centers for Medicare and Medicaid Services (CMS) recently issued final regulations that implement the changes that were made to the whole hospital exception by the Patient Protection and Affordable Care Act and the Health Care Education and Reconciliation Act of 2010 (collectively, the “Acts
In a recent case by the Swedish Supreme Court (Sw. Högsta domstolen) (T 4904-08), the burden of proof of payments made by the debtor in relation to a negotiable promissory note was placed on the creditor.Since the borrowers had not confirmed that the debt had not been paid, the transferees were not in good faith in relation to the payment of the debt ...
As of 1 August 2010, two new pieces of legislation governing payment services came into force; the payment Services Act (Sw. Lag (2010:751) om betaltjänster) and the Act on Unauthorised Transactions with Payment Instruments (Sw. Lag (2010:738) om obehöriga transaktioner med betalningsinstrument) ...
A new Consumer Credit Act (Sw. Konsumentkreditlagen (2010:1846)) came into effect on 1 January 2011. The Act implements the Consumer Credit Directive (Directive 2008/48/EC of the European Parliament and of the Council of 23 April 2008 on credit agreements for consumers and repealing Council Directive 87/102/EEC). The Directive’s purpose is to enhance consumer protection by addressing some of the indebtedness problems caused by text message loans (Sw ...
Until now, several of the provisions of the Credit Information Act (Sw. Kreditupplysningslagen (1973:1173)) that protects the integrity of individuals were not applicable when credit information was shared on the Internet. The reason for this was that such information was protected by the Fundamental Law on Freedom of Expression (Sw. Yttrandefrihetsgrundlagen (1991:1469)) ...
Overview of the lending market 1. Please give a brief overview of the main trends and important developments in the lending market in your jurisdiction in the last 12 months. On 27 April 2010, Parliament abolished certain restrictions introduced by the Law On Amendments to certain Ukrainian laws to overcome the negative consequences of the financial crisis ...
In an effort to recover more than $2.5 billion, the FDIC announced earlier this month that it had authorized lawsuits against more than 100 directors and officers of failed banks. It wasted no time in showing it was serious. On January 14, 2011, the FDIC filed lawsuits against certain directors and officers of failed Integrity Bank, of Alpharetta, Georgia, and 1st Centennial Bank, of Redlands, California ...
In the wake of recent judicial decisions by the North Carolina Business Court and Eastern District Bankruptcy Court that "muddied the waters" for contractor lien rights, the North Carolina Bar Association Construction Section Lien Law Committee is drafting proposed legislation to reform North Carolina’s lien and bond laws contained in General Statutes Chapter 44A ...
The Secure and Fair Enforcement for Mortgage Licensing Act (the “SAFE” Act), enacted on July 30, 2008, mandates a federal registration system for employees of banks, credit unions and their subsidiaries who engage in the business of residential mortgage loan origination ...
