Comments on the consequences of failure to observe the required form when selling shares in a limited-liability company and the possibility of correcting this defect. The current Commercial Companies Code went into effect in Poland in 2001, stiffening the requirements with respect to the form for transfer of title to shares in a limited-liability company (sp. z o.o ...
The Competition Commission of India ("CCI") has amended the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, 2011 (Combination Regulations). A notification in respect was issued by the CCI on March 28, 2014 ...
The Firestorm: Civil Litigation and Class Actions Following a Cyber Incident As soon as your company has tangible evidence of a data breach, you must start thinking about what a lawsuit would entail, especially in light of the complexity of electronic evidence. In this installment of our special series, A Desk Guide to Data Protection and Breach Response, we discuss the firestorm of litigation that can arise following a breach and provide practical guidance for preparing for the worst ...
In Dollo v. Premier Tech Ltée,1 the Superior Court of Québec declared a clause contained in the Stock Option Plan (the “Plan”) offered by Premier Tech Ltée (“Premier Tech”) to some of its employees to be abusive and also declared Premier Tech’s conduct towards a dismissed senior executive to be oppressive within the meaning of the Canada Business Corporations Act (“CBCA”). THE FACTS In May 1999, Premier Tech hired Christian Dollo (“Dollo”) as vice‑president, finance ...
The process of selling a business may pose some risks to the seller, particularly those related to the disclosure to third parties of confidential information concerning the operation of the business ...
The Department for Work and Pensions (DWP) has issued its response to the consultation on the exemption of certain categories of worker from the scope of automatic enrolment. While the DWP considered a range of potential exemptions, it has decided that exemptions are only appropriate in a limited number of situations ...
Criminal Referrals When a company falls victim to a damaging cyber attack or suffers a theft of sensitive data or intellectual property, the incident very well may fall within the ambit of one or more criminal statutes designed to deter and punish perpetrators with the prospect of jail time, financial penalties and restitution. Under appropriate circumstances, the company should give serious consideration to making a referral to law enforcement as part of its response strategy ...
On 14 February 2014 the South African Department of Trade & Industry (DTI) gave notice of its intention to prohibit the use of a large number of European food and drinks names in terms of section 15 of the Merchandise Marks Act (MMA) - confusingly the notice also makes reference to section 13 of the MMA, a section that no longer exists ...
Hunton & Williams is a regional leader in its ability to assist both local and global clients conducting business in Southeast Asia. With an established office in Bangkok, our resident lawyers possess the practical knowledge, global perspective, regional understanding and creative problem solving tools necessary to assist clients in achieving their business objectives in Southeast Asia ...
A new Consumer Protection Act is currently in the process of being adopted in Croatia, and has revamped areas of the Act dealing with the sale of products at reduced prices and obligations for public service providers.The new Act imposes traders the obligation to point out two types of prices – regular and reduced. This obligation is related to seasonal reductions in prices, which may be applied up to three times a year and may last no longer than 60 days under the provisions of new Act ...
On February 20, 2014, the Quebec National Assembly passed Bill 28, An Act to establish the new Code of Civil Procedure. This is a watershed moment in a process that began in 2003 and was the subject of a review by the Minister of Justice in 2006. Notably, promoting cooperation by the parties on the conduct of proceedings and increasing reliance on case management conferences are meant to improve access to justice ...
On February 28, 2014, the Colombian Government issued Decree 456 of 2014, whereby it established special tariffs applicable to the imports of clothing and shoes. The measure is a compound ad valorem (10%) and specific tariff (US$5) for imports of products classified under chapters 61, 62 and 62 of the Colombian Tariff Code, with prices under US$10 per kilogram, and to imports of products classified under chapter 64, with prices under US$7 per pair ...
In an opinion that could substantially affect future controlling-shareholder buyouts, the Delaware Supreme Court on Friday affirmed the Chancery Court’s decision that the business judgment standard of review, rather than entire fairness, should apply to controlling-party takeovers where it is established before trial that certain protections exist. Background The suit stemmed from Ronald Perelman’s going-private buyout of M&F Worldwide Corp. (“MFW”), a company he controlled ...
For many HR professionals the responsibility for ensuring that their organisation can continue to employ migrant workers falls squarely at their door. This can prove daunting, especially for those with little or no business-immigration experience ...
Breaking the News: Disclosing Data Breaches and Withstanding Regulatory Scrutiny Breached companies are often crime victims, but they are also potential targets for regulatory actions (and, as we will discuss in future installments, potential parties to a wide range of litigation) ...
Same sex couples will have the right to marry in England and Wales from 29 March 2014. Generally, same sex marriages will be treated in the same way as opposite sex marriages. However, in occupational pension schemes, surviving same sex spouses need only be treated in the same way as surviving civil partners and not as opposite sex spouses ...
THE FACTS On January 22, 2014, the Court of Appeal of Québec confirmed the 2012 decision of the Superior Court of Québec in Gilman v. Fieldturf Tarkett inc.2 At issue in this case was whether the payment of so-called “phantom share” bonuses were to be paid to employees whose employment was terminated by the company. The incentive program at issue was established for certain non- shareholder key employees of the company ...
Your company’s compliance programme may not be the easiest topic to bring up at an executive management meeting, but it probably is one of the most important. What makes for a good compliance programme? This topic was raised at a Krogerus Compliance Officer Roundtable that gathered a cross-section of business executives in Finland. Here is a summary of some ideas you may wish to keep in mind ...
The Clock is Ticking: Investigating and Responding to a Breach Once your company becomes aware of a suspected data breach, time is of the essence. Losses from the breach are likely mounting, the clock is running on your organization’s legal rights and obligations, and the potential liability to claims by regulators and plaintiffs begins to expand ...
On February 20, 2014, the Supreme Court of Canada allowed the motion for leave to appeal the judgment of the Court of Appeal of Québec rendered in the case of Theratechnologies inc. v. 121851 Canada Inc.1. In this unanimous judgment, the Court of Appeal decided that a judgment authorizing a class action based on section 225 ...
The Fourth Circuit recently held that selling contaminated drugs in violation of FDA regulations does not give rise to False Claims Act liability where compliance with the regulations is not a condition of federal reimbursement. See United States ex rel. Barry Rostholder v. Omnicare, Inc., No. 12-2431 (4th Cir. Feb. 21, 2014) ...
Every year, several judgments are rendered in penal law cases involving occupational health and safety issues. However, judgments in an occupational health and safety context resulting from the laying of criminal negligence charges are more rare. While the sections of the Criminal Code1 which facilitate the filing of criminal negligence charges are now ten years old2, criminal negligence convictions in Quebec based on breaches of section 217 ...
The Central Bank of Brazil initiated a public hearing on 6 February to facilitate foreign investment. The Internet-delivered hearing will end on 7 April. The idea is to include under a single normative act the scattered provisions relating to fixed and variable income investment, as well as to portfolio investment. The measure is one of initiatives taken by the Central Bank within its Otimiza-BC program of cost reduction ...
Reform Scotland, the Edinburgh-based think tank, has proposed a wholesale reform of the UK public and private sector pension system. In its paper The Pension Guarantee, published on 27 February and available in full here, it identifies a number of issues with the current system and sets out recommendations for a possible solution ...
Insurance Coverage for Cyber Attacks: What Do You Need in a Cyber Liability Policy?With more and more businesses suffering costly data breaches and cyber attacks, companies should utilize every tool they have to shift the potentially enormous expenses associated with those breaches and attacks. That’s where insurance comes in ...
