In FanDuel, Inc., v. Interactive Games LLC, No. 2019-1393 (Fed. Cir. July 29, 2020), the Court of Appeals for the Federal Circuit held that the Patent Trial and Appeal Board (Board) did not violate the Administrative Procedure Act (APA) by rejecting the prior-art combination on which it instituted inter parties review (IPR). The relevant patent claims related to a method of gambling on a mobile device ...
This is a summary of the Annual Report. Click here to access the full guide. The 2020 proxy season shareholder proposals were already submitted before the COVID-19 shadow loomed large over the season; however, such shadow likely impacted how shareholders voted on the proposals themselves, impacted business throughout 2020, and continues to jolt 2021 and the forthcoming 2021 proxy season ...
In April 2020, we reported on the first cases that were conducted remotely via video conferencing facilities (VCF) during the court closures due to the Covid-19 pandemic. More than a year has passed and, although Covid-19 is still posing challenges, the courts have reopened and continue to embrace technology to facilitate social distancing ...
In the recent case ofAslan v Stepanoski[1](the Aslan case), the Court of Appeal of New South Wales, Australia upheld a builder’s action suspending the performance of works over non-payment and denial of access to the site by the employer. The Court held that the contractor’s decision to suspend works was not a repudiatory conduct as he was entitled to do so under the contract ...
A REVIEW OF THE EVIDENCE (AMENDMENT) ACT 2023 INTRODUCTION The Evidence Act (Amendment) Act 2023 (the Amended Act) was signed into Law by President Bola Ahmed Tinubu on the 12th day of June 2023. The Amended Act was aimed at amending the provisions of the Evidence Act 2011 (the Principal Act) to be in conformity with global technological advancements in evidence taking and its applicability covers all judicial proceedings before Courts in Nigeria ...
With the growing popularity of the Hong Kong open-ended fund company (OFC) structure following revisions to the OFC Code in September 2020, fund managers are increasingly looking at practical considerations when planning ahead on the establishment of new OFCs. One of the key areas is the appointment of the OFC’s board of directors. The key operators of an OFC are the directors, the investment manager and the custodian ...
Contents The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 Updates to Natural Capital Fund framework HMRC guidance on the registration of GPUTs Changes to Guernsey’s insolvency regime Consultation on “six directorship” exemption for directors The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 The Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCF Law”) came into partial force on 1 January 2023 and will c
Contents Introduction of US style LLCs to Jersey Proceeds of Crime Law changes, including AMLSPs HMRC guidance on the registration of JPUTs Update on arranging as an additional limb of investment business Introduction of US style LLCs to Jersey In September 2022 Jersey enacted legislation which permits the formation of US-style limited liability companies or LLCs in Jersey ...
HMRC publishes updated guidance on termination fees and compensation payments and confirms the VAT treatment of dilapidations. On 7 February 2022, HMRC published Revenue & Customs Brief 2 (2022) (the 2022 Brief), its long-awaited updated guidance on early termination fees and compensation payments ...
General contractors, subcontractors, and builders providing construction services in North Carolina should be aware that labor charges on certain of their projects may now be subject to sales tax under the state's new repair, maintenance, and installation ("RMI") rules ...
The Nation published the result of a survey that basically asked two specific issues : (i) how easy (or clear) you think the tax system? and (ii) what is the main reason why some people evade taxes? Any analysis of the tax system should take into account an absolute truth: no one likes to pay taxes . As we have discussed on other occasions ... a person can understand why you pay taxes, but like ... or want to pay ... mmmm ... I do not think: that's another thing ...
Even before the Biden Administration proposed an increase to the capital gains rate, it has been increasingly common for a seller (“Seller”) of business assets to be approached by consultants promoting a transaction structure whereby Seller can immediately receive nearly all of the cash proceeds of the sale while also deferring the corresponding tax for as long as 30 years ...
Crowded release of new AML rules With the continuous development of onshore financial markets and the ever-intensifying requirements globally for anti-money laundering (“AML”), it has become increasingly imperative for China to improve its AML legal and regulatory frameworks to give further play to the role of AML in building up the modern financial system and deepening the two-way opening-up of the financial industry ...
Crowded release of new AML rules With the continuous development of onshore financial markets and the ever-intensifying requirements globally for anti-money laundering (“AML”), it has become increasingly imperative for China to improve its AML legal and regulatory frameworks to give further play to the role of AML in building up the modern financial system and deepening the two-way opening-up of the financial industry ...
[!<CDATA[ Moratoriums on foreclosures due to COVID-19 ended this summer, prompting concerns of a shock similar to the 2008 housing crisis. While there are numerous differences between today and the previous recession, financial service providers can stay a step ahead by arming themselves with a few lessons learned ...
Section 29 of the Bankruptcy Ordinance (Cap. 6) (BO) allows a trustee in bankruptcy to apply to the Courts for orders compelling disclosure of material documents and/or information of the bankrupt in order for the trustee to carry out his/her duties under the bankruptcy. For the authors’ previous article on Section 29, please see here ...
Section 29 of the Bankruptcy Ordinance (Cap. 6) (BO) allows a trustee in bankruptcy to apply to the Courts for orders compelling disclosure of material documents and/or information of the bankrupt in order for the trustee to carry out his/her duties under the bankruptcy. For the authors’ previous article on Section 29, please see here ...
Initially published by Thomson Reuters [24 November 2021], Shoosmiths partner Sam Tyfield below explores the Financial Conduct Authority’s policy and supervisory priorities in the areas of market abuse monitoring, data collection and the classification of a ‘venue’ - for the purposes of the FCA Handbook. The Financial Conduct Authority (FCA) released Market Watch 68 on November 16, 2021 ...
Recently, the Court of Québec reminded merchants of their responsibility to ensure that consumers are cognizant of important contractual clauses at the time a contract is entered into. In the case of 159191 Canada inc. (Discount Location d’autos et camions) c. Waddell1, the Court had to decide whether a clause in a two-page vehicle rental contract which excluded insurance coverage in a specific situation was valid under Québec law. FACTSThe facts of the case are as follows ...
These newly-minted individuals and families are the recipients of a large portion of the huge wealth generated globally in the past 12 to 18 months, and require special attention from advisors and fiduciary service providers not only to manage and protect their newfound fortune but to deal with the inevitable pressures associated with it. The FirstGen – who are they? Broadly speaking, the FirstGen are original wealth creators who are predominantly from a younger age bracket ...
Good news! The murkiness surrounding declarant rights in North Carolina became a little clearer this summer. On July 7, 2014, Governor McCrory signed an amendment to the Planned Community Act addressing the transfer of declarant rights. This article only addresses lender’s rights or liability surrounding declarant rights if that lender were in acquiring ownership of that collateral in the context of foreclosure or “deed in lieu ...
The Judicial Chamber on Economic Disputes of the Supreme Court of the Russian Federation has considered TrustForex LLC case (No. A40-167835/2021) concerning the essential issue of recovery of penalty for providing false representations while selling assets. We believe this case to be very important both for the court practice and for the business ...