Heather Venture Holdings Ltd and Tapir Holdings Ltd list on Bermuda Stock Exchange The Companies are entities incorporated in the British Virgin Islands and have received the BSX's approval for the listing of 44,502,264 ordinary shares respectively ("Listing Shares"). The Listings have been made as part of a wider transaction, which involved the declaration of a dividend in specie by Impellam Group plc, with such dividend in specie being the Listing Shares ...
On January 1, 2024, regulations implementing the Corporate Transparency Act (“CTA”) became effective, triggering new reporting obligations for many entities conducting business within the United States ...
“Public service is a noble calling” that requires great sacrifice, often requiring public officials to surrender personal conveniences in favor of public business ...
Those who have been following it will know that the Bank of England / Prudential Regulation Authority’s consultation on proposed new rules for Critical Third Party suppliers (CTPs) closed on 15th March ...
On 14 March 2024, the National Development and Reform Commission("NDRC") of the People's Republic of China ("PRC") issued theCircular on Supporting Quality Enterprises to Borrow Medium-and Long-term Foreign Debts to Promote Quality Development of the Real Economy (Draft for Comments)(the "Draft Circular")(《国家发展改革委关于支持优质企业借用中长期外债 促进实体经济高质量发展的通知（征求意见稿）》) to solicit public opinion from 14 March 2024 to 13 April 2024 ...
We would like to inform you about important potential changes regarding the state accreditation rules for IT companies1 and the current moratorium on inspections of IT companies2. 1 ...
In recent months, a number of agencies, including the Federal Bureau of Investigation (“FBI”), have been working diligently to identify businesses and individuals who committed alleged fraud through the Paycheck Protection Program (“PPP”). The PPP was a key component of the CARES Act, which approved $2.2 trillion in economic relief in response to the COVID-19 pandemic. The PPP aimed to help businesses navigate the pandemic by providing financial assistance to employers ...
MEPs in Strasbourg have overwhelmingly (523 - 46) now approved the EU’s AI Act. It heralds the long-awaited arrival of what is the first globally significant attempt at a standalone regulatory framework for artificial intelligence systems ...
Norwich Pharmacal applications against BVI registered agents: BVI Commercial Court provides new guidance In its recent judgment, the BVI Commercial Court has provided clarification and guidance on Norwich Pharmacal applications against BVI registered agents ...
The Ohio Supreme Court upheld a temporary Ohio law providing that income earned by remote workers would be taxed by the municipality that was their principal place of work, rather than the municipality where they actually performed remote work during the COVID-19 emergency period. The 5-2 decision in Schaad v. Alder, Slip Opinion No. 2024-Ohio-525, came on February 14, 2024 ...
Maximising benefits: The importance of efficiently leveraging W&I Insurance to structure M&A deals Warranty and Indemnity (“W&I”) insurance is a risk management tool that transfers the liability of the seller to the insurer. W&I insurance typically covers the breach of warranties and indemnities provided by a seller/warrantor and the occurrence of events that were unknown or undisclosed to a buyer ...
Carey Olsen and Oakbridge advise Sullivan Street Partners on Wave Group investment Carey Olsen provided regulatory, structuring and legal advice in establishing Sullivan Street's investment vehicle, Wave Jersey LP, with Oakbridge facilitating the set up and ongoing fund administration services. The Carey Olsen team advising Sullivan Street Partners comprised corporate partner Chris Griffin and associate Marco Carossa ...
The government’s push to drive down net migration figures has been well documented. 2024 will see a raft of changes aimed at reducing this figure from the 745,000 that was recorded for 2022. Whilst there is no doubt that the changes will result in reduced migration, it will also make things more difficult for sectors that rely on the sponsorship system to fill vacancies in areas where there are skills shortages in the resident labour market ...
On March 8, 2024, just days before it was set to take effect, U.S. District Judge J. Campbell Barker of the Eastern District of Texas vacated the National Labor Relations Board’s (“NLRB’s”) recent rule on determining the standard for joint-employer status. The NLRB issued the rule on October 26, 2023. It established a seven-factor analysis, under a two-step test, for determining joint employer status ...
Muted voices: can beneficiaries of a STAR trust be empowered to play "devil's advocate" In In the Matter of the G Trust[1] the Grand Court of the Cayman Islands was asked by the trustee of a Cayman STAR trust to give directions in relation to the question of who should participate, and in what capacity, in an application for rectification of a deed supplemental to the trust (the "rectification application") ...
Flexibility in Bermuda trusts afforded by Section 47 What is Section 47 Section 47 of Bermuda’s Trustee Act 1975 provides trustees of Bermuda trusts with a very useful and flexible tool for varying trusts in the absence of the necessary power either in the trust instrument or otherwise under the relevant legislation. Trusts not governed by Bermuda law can be migrated to Bermuda to take advantage of section 47 and, in such cases, it may be desirable to appoint new trustees in Bermuda ...
Expanding its ability to detect and pursue security incidents, the Federal Trade Commission (FTC) finalized an amendment to the Safeguards Rule[1] on October 27, 2023 requiring non-banking financial institutions to report certain data breaches. By extending this data privacy protection to customers of all financial institutions, this amendment demands fintech firms across the country revisit their cybersecurity and incident-response policies. I ...
Last month, special counsel Robert Hur issued a report detailing his reasons for declining to charge President Joe Biden for retaining classified documents from Biden's time as vice president. Regardless of one's views on its conclusions and underlying rationale, at least some of the report's significance results from the rare glimpse it provides into prosecutorial decision making. The report was delivered pursuant to special counsel regulations, but the U.S ...
This article serves as an overview of our nation’s veteran population in order to better serve them. To accomplish this, it is important to understand who is considered a veteran and the composition of our veteran population and their needs. Under Title 38 of the Code of Federal Regulations, a veteran is defined as “a person who served in the active military, naval, air, or space service, and who was discharged or released therefrom under conditions other than dishonorable ...
Following chancellor Jeremy Hunt’s Spring Budget speech made on 6 March 2024, legal experts at law firm Shoosmiths share their views on the announcements ...
On February 12, 2024, the Court of Appeal of Quebec handed down its decision in Société d?assurance Beneva inc. c. Bordeleau,1 dealing in particular with the burden of proof incumbent on an insurer when it denies coverage on the basis of an insured?s intentional fault, and an award of damages against an insurer for breach of its duty of good faith. The facts This decision was rendered further to a dispute between Société d?assurance Beneva inc ...
