The Committee on Foreign Investment in the United States The Exon-Florio Amendment to the 1988 U.S. Defense Production Act established the Committee on Foreign Investment in the United States ("CFIUS"). CFIUS is composed of representatives of several U.S. Government agencies, including the Departments of Treasury, State, Defense, Homeland Security, Labor and Commerce ...
The U.S. Director of National Intelligence, James Clapper, advised the Senate Intelligence Committee this week that cyber attacks are the number one threat to national security. “Increasingly, state and non-state actors are gaining and using cyber expertise,” Clapper stated in his remarks to the Committee. “These capabilities put all sectors of our country at risk, from government and private networks to critical infrastructure ...
An increasing number of public companies – particularly banks and financial institutions – are disclosing cybersecurity incidents in their filings with the Securities and Exchange Commission. Companies are also replacing boilerplate cyber risk disclosures with more detailed disclosures of specific events or threats ...
It is International Women's Day today, March 8 – an opportunity to bring the challenges women face in the workplace to the fore. Laws to protect women being discriminated against in the workplace because of their "family status" have existed for some time. What has been less clear is what the legal definition of "family status" means. Even at the highest court level, it's unclear as there have been few decisions to help define the term ...
Bankruptcy Code § 1129(a)(10) provides that in order for a plan proponent to “cram down” - i.e., force acceptance of - a plan of reorganization on a dissenting class of creditors, at least one impaired class of creditors must vote in favor of the plan. Because a plan is often not accepted by all classes entitled to vote, the ability to procure at least one impaired, accepting class in order to cram down a dissenting class is essential in achieving plan confirmation ...
On 31 January 2013, the Chinese Supreme People’s Court (“SPC”) issued the Fourth Judicial Interpretation on Certain Issues Concerning the Application of Law in Cases Involving Labor Disputes (“SPC-Rules IV”) which came into effect on 1 February 2013. The SPC-Rules IV are based on the current employment laws and regulations and further detail several practice-relevant issues ...
On February 27, 2013, the Supreme Court held in a 6-3 opinion in Amgen Inc. v. Connecticut Retirement Plans and Trust Funds, 568 U.S. ___ (2013), that securities fraud class action plaintiffs need not prove materiality at the class certification stage to invoke the fraud-on-the-market presumption of class-wide reliance ...
A recent ruling by the Court of Justice of the European Union (CJEU) could mean trouble for many Community trade marks. There is now a heightened risk that national courts will invalidate these trade marks if they have not been used extensively enough in the European Union. Is broader protection better?A Community trade mark (CTM) confers protection in all 27 EU member states ...
The United States Supreme Court yesterday significantly limited the federal government’s ability to bring an action for civil penalties more than five years after the alleged misconduct occurred. In Gabelli v. Securities and Exchange Commission, the Court held that the five-year limitations period governing most enforcement actions begins to run when the underlying violation occurred – not when the government discovered the violation ...
On January 29, 2013, President Obama announced his plan for comprehensive immigration reform. While the proposal to require mandatory, phased-in electronic employment verification has obvious implications for employers, the proposal to provide a pathway to earned citizenship may have an unforeseen effect on employers, as well. While surprising to some, many individuals in all walks of life do not have work authorization but are still members of the workforce ...
On January 4, 2013, Judge Irene M. Keeley of the United States District Court for the Northern District of West Virginia issued a Memorandum Opinion and Order that partially granted the Defendant’s Motion for Summary Judgment in the case of Eddy v. Biddle, Barr and Dolgencorp, LLC, Civil Action No. 1:11CV137. Judge Keeley subsequently entered a Final Judgment on January 11, 2013, and the case was dismissed with prejudice ...
Employers nationally continue to struggle with how to respond and adapt to the ever- changing landscape that is the Patient Protection and Affordable Care Act (often known as ObamaCare or the ACA). We at Spilman Thomas & Battle will continue to work with you through 2013 and beyond as the implementing regulations for the ACA continue to be issued. We are working to identify strategies to help employers navigate the process in the manner that best serves their respective industries ...
As most employers know, the federal wage/hour law under the Fair Labor Standards Act (“FLSA”) includes the requirement to pay “non-exempt” employees time and one half of their “regular rate” for work in excess of 40 hours in a work week. The U.S. Department of Labor (“DOL”) is charged with enforcing the FLSA through its Wage and Hour Division ...
The Philippine Supreme Court has issued a decision that may have a significant impact on how local nationality requirements (i.e., constitutional and statutory provisions requiring minimum Filipino ownership in certain industries) must be construed and applied. Enterprises such as telecommunications, media, advertising and land ownership are subject to such nationality requirements.The case of Gamboa v. Teves, et al. (G.R. No ...
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 ...
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 ...
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 ...
Since year 2008 Nicaragua has been modernizing the administration of labor justice. The Ministry of Labor started the modernization with the implementation of an oral process for the fulfillment of certain formalities required before such institution, such as termination of employment contracts for justified cause, collective suspensions and business closures. The implementation of this oral process has been successful because it reduces and simplifies processes ...
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 ...
The National Labor Relations Board (“NLRB” or “Board”) began 2013 as it began 2012, facing questions regarding whether a quorum of its members had been constitutionally appointed. As we noted in our February 3, 2012 NLRB Roundup, President Obama made three controversial “recess” appointments to the Board to restore its quorum. Now, a year later, the D.C ...
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 ...
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 ...
