The recent judgment issued by the Supreme Court of Bermuda in the case of In the Matter of the AB Settlement [2022] SC (Bda) 92 Civ provides very helpful authority on the question of whether trust restructurings under Bermuda statute constitute resettlements. The case concerned a substantial English law trust, referred to in the judgment as the AB Settlement ...
On January 5, 2023, the Federal Trade Commission (“FTC”) published a notice of a proposed rulemaking that would prohibit employers from enforcing non-compete agreements against all employees and would preempt state laws that otherwise allow these agreements. The proposed rule would prohibit any contractual term that functions to prevent a worker from seeking or accepting employment or operating a business, after leaving the employer ...
Part 1: Four reasons to slow down and four reasons to speed up the process Part 2: Slowing down the process (CA, US, EP, PCT) Part 3: Fast track (CA, US, EP, PCT) Part 1: Why slow down or speed up the process? Slowing down the process Why would anyone want to slow down the process when it already usually takes several years for a patent to be issued? Cash flow Uncertainty for competitors Possibility of changing the scope Possibility of filing a divisional application In some cases,
Having experienced unprecedented levels of M&A activity in 2021 and the first half of 2022, followed by the market uncertainty of Q3 and Q4 of 2022, what can we expect from the M&A landscape in 2023? Here are some of our key predictions ...
In recent months we have seen a significant rise in industrial action across multiple sectors, including public transport; postal workers; nursing and ambulance staff; university employees; Border Force staff and civil servants. Strikes look set to continue into 2023; the British Medical Association is currently balloting junior doctors on potential strike action for March 2023 and disruption is also likely to hit schools in Scotland as teacher strikes are planned for January 2023 ...
The UAE has introduced a new law on civil procedure (Federal Decree-Law 42/2022) which repeals Federal Law No. 11 of 1992 on civil procedure and its executive regulations issued under Cabinet Resolution No. 57 of 2018. The new law came into force on 2 January 2022 ...
In Ultima Services Corporation v. U.S. Department of Agriculture et al., Case No. 2:20-CV-00041, Ultima Services Corporation filed suit in the U.S. District Court for the Eastern District of Tennessee (Greenville Division) challenging the constitutionality of the Small Business Administration’s 8(a) Business Development Program ...
In 2021, President Biden issued Executive Order 14026 to increase the minimum wage for federal government contractors to $15 per hour. On November 23, 2021, the Department of Labor (DOL) issued its final rule implementing Executive Order 14026. The rule requires any federal contractor to pay employees a minimum hourly wage of $15 and overtime wages for work beyond 40 hours per week. This wage is subject to yearly increases determined by DOL ...
Dionex Softron GmbH v. Agilent Techs., Inc., Appeal No. 21-2372 (Fed. Cir. Jan. 6, 2023) This week’s Case of the Week, the only precedential patent opinion issued by the Federal Circuit this week, focused primarily on the corroboration requirement for relevant dates of invention. The Court held there was sufficient evidence of a reduction to practice as of a given date, based primarily on corroboration of multiple witnesses, notwithstanding limited documentary evidence ...
January 10, 2023 By: Michael Flynn The Office of Information and Regulatory Affairs in the Office of Management and Budget has released the Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions (Agenda) reports on the actions administrative agencies plan to issue in the near and long term. Included is the CFPB’s regulatory agenda for 2023. The CFPB agenda may be found HERE ...
Lost for many in the avalanche of news about the midterms, voters in five states went to the polls last month to vote on proposals allowing adult-use cannabis, often referred to as recreational cannabis. We won't bury the lede: two states, Maryland and Missouri, voted to allow adult-use cannabis, while three others — Arkansas and the Dakotas — voted down the proposals ...
As we enter the new year, we also welcome the implementation of the British Virgin Islands ("BVI") Business Companies Act (the "Act") amendments which came into force on 1 January 2023. The amendments update several parts of the Act and continues to conform with best practice and international standards ...
It is a sad fact that the current economic crisis is causing many employers to consider cost saving measures like redundancies. But it can be difficult to know what amounts to a redundancy situation. We consider the legal definition and how it applies. What the law says Redundancy is a mechanism used by employers when a company needs to reduce the number of its employees. It is one of the five potentially fair reasons for which an employer can dismiss an employee ...
For those that have been able to enjoy a break over the festive period, welcome back. If your dinner table discussions were like mine and involved catching-up with friends and various branches of the family tree, it no doubt involved the inevitable question of “how’s work going?” ...
All registered charities with an annual income over £10,000 and all CIOs - charitable incorporated organisations - are required to complete and file online with the Charity Commission an Annual Return in a prescribed form within ten months of their financial year end. Just before Christmas, the Commission confirmed details of new and revised questions in the Annual Return ...
Roger Royse Q&A: ESG, PE and IPO Prospects for Agtech in 2023 December 28, 2022 Haynes and Boone, LLP Partner Roger Royse was featured in an AgFunderNews Q&A about environmental, social & governance (ESG), private equity, and initial public offering prospects for agtech in 2023. Below is an excerpt: AFN: Tell us a few really noteworthy investment trends you saw in 2022 ...
Ukraine is an EU candidate: Can we soon file patent applications for Ukraine at the European Patent Office? The European Council granted Ukraine EU candidate status on 23 June 2022. Will patents granted by the European Patent Office soon also apply in Ukraine? Not immediately, because on the one hand the candidate status legally creates neither rights nor obligations ...
On January 11, 2023 the SEC Division of Investment Management issued an additional Marketing Rule FAQ. The newly issued FAQ addresses gross and net performance requirements applicable to private fund case studies, single investments and/or groups of investments, i.e. extracted performance. Specifically, the Question provides as follows: Q. When an adviser displays the gross performance of one investment (e.g ...
Many government agencies set goals for their construction projects to be awarded to disadvantaged business enterprises (DBE). The U.S. Department of Transportation (DOT) DBE certification program sets antidiscrimination regulations that states can implement for federal funding. The Certification Office for Business Inclusion and Diversity (COBID) is the certifying authority of DBEs (on behalf of the DOT) in Oregon ...
Operating expenses (“OpEx”) and common area maintenance fees (“CAM”) are two important items in any commercial lease, but they are often overlooked after the decision is made on how to split up these fees. Typically, operating expenses are calculated and allocated based on a gross, modified gross, or triple net basis, with the tenant being responsible for a percentage of CAM based on the percentage of the total property they occupy ...
This briefing sets out the key requirements of PIPA and the steps that your organisation can take to prepare for its implementation. PIPA coming into force PIPA was enacted in 2016 to regulate the use of personal information in Bermuda by individuals, companies, public authorities and other organisations ...
On 21 December 2022 the Supreme Court handed down its decision in the case of Stanford International Bank Ltd (in liquidation) v HSBC Bank PLC [2022] UKSC 34. Stanford International Bank’s (‘SIB’) appeal was ultimately struck out as it was determined that it did not suffer a recoverable loss. Background The original claim was brought by Antigua-based SIB in relation to several accounts it held with HSBC Bank PLC (‘HSBC’) in London between 2003 to 2009 ...
With the well-known challenges of the last ten months or so, market conditions deteriorated substantially over 2022 and the venture capital (VC) market became a far more challenging one in which to agree a valuation and raise money. While those challenges are not over, from speaking to VC clients and others, there's a cautious optimism that as 2023 progresses the market will slowly improve ...
On 19 October 2022, the Council of the EU announced that political agreement (the ‘Political Agreement’) had been reached with the EU Parliament on the review of the Regulation on European long-term investment funds (the ‘ELTIF Regulation’) ...
Overview On 4 November 2022, the Ministry of Commerce of Cambodia issued two new regulations, namely, Prakas 226 on the Formalities and Procedures of Inspection and Investigation under the Law on Competition (“Prakas 226”) and Prakas 227 on the Conditions and Procedures of Negotiated Settlement under the Law on Competition (“Prakas 227”) ...
