A debtor files for bankruptcy protection, and his or her creditors are sent notice of the filing. Despite having received the notice, due to a breakdown in internal procedures one of the creditors, a bank, accidentally takes action to collect on the debt after the filing of the bankruptcy case – thus violating the automatic stay. Since the violation was unintentional, surely the bank cannot be sanctioned, right? Wrong ...
Generally, an “accord and satisfaction” is an agreement between two or more contracting parties to accept an alternate agreement and performance in lieu of a preexisting contractual duty between the parties. The new agreement is the “accord,” and the subsequent performance of the new agreement is the “satisfaction ...
Key Points On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments that broaden the qualifying pool of individuals and entities known as “accredited investors.” The amendments expand the definition based on defined measures of professional knowledge, experience, or certifications, in addition to the existing tests for income or net worth ...
Key Points On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments that broaden the qualifying pool of individuals and entities known as “accredited investors.” The amendments expand the definition based on defined measures of professional knowledge, experience, or certifications, in addition to the existing tests for income or net worth ...
In order to accomplish this important task, the following are steps to follow: A. Make a list of other sides’ interest. It will help your remember them and stimulate ideas for how to meet such needs B. Communicate your interests when they are in conflict. Help the other side to see just how important and legitimate your interests are. Be specific and objective. Convince them they would feel the same in your shoes and recognize how you might feel in their shoes ...
The year 2004 saw increased M&A activity in the Ukrainian banking sector. Some of the notable acquisitions include equity transfers in Kredit Bank (to PKO Bank Polski S.A.), Transbank (to Bank TuranAlem of Kazakhstan),Bank Leader (to Renaissance Capital of Russia), and, of course, the benchmark deal of the year — acquisitionby Vilniaus Bankas, a Lithuanian subsidiary of the powerful SEB Group of Sweden, of the Joint Stock Bank Agio ...
In Scots law, it is possible to acquire certain rights to land – access, for instance – simply by the passage of time. This process is known as “prescription” and is outlined in the Prescription and Limitation (Scotland) Act 1973. There are two forms of prescription: positive and negative. Negative prescription extinguishes certain rights after a period of time ...
Kudun and Partners have successfully represented Radiant Power Co., Ltd. and Jetion Solar (Thailand) Co., Ltd., a large solar panel manufacturer backed by a Chinese-state-owned company, China National Building Materials Group Corporation, for the acquisition of 100% shares including the transfer of debts related to Engineering Procurement Construction (EPC) work from Pattanathurakit Co., Ltd. for an accumulated sum of THB 960 million ...
It would be a surprise to many, but it has been common knowledge to criminal practitioners for years, that a criminal defendant’s sentence for a crime which they have been convicted can be increased based on consideration of conduct that the jury acquitted ...
The consequences of the coronavirus are omnipresent and felt by everyone. Management Board members and Directors of issuers of securities listed on the open or regulated market are faced with the question whether ad hoc publicity obligations are arising for their companies in connection with the corona crisis. The abstract circumstance of the occurrence of a recession as a result of the spread of the coronavirus does not trigger an ad hoc disclosure obligation ...
phttps://www.huntonak.com/Media/Private-Merger-Enforcement-Chart-Addendum ...
In January 2021, the U.S. Dept. of Justice (DOJ) announced $2.2 billion in False Claims Act (FCA) recoveries for fiscal year 2020, which ended on September 30.[1] Although this amount is substantial, it nonetheless represents the smallest recovery figure in 10 years. These figures reflect the Trump administration’s unaggressive enforcement efforts and its restrictive view of the FCA. As recently as 2016, FCA recovery exceeded $4.5 billion. Recoveries in 2019 were $3 ...
In Michigan, additional coronavirus relief resources are available through the Michigan Small Business Relief Program established by the Michigan Strategic Fund (MSF) and administered by the Michigan Economic Development Corporation (MEDC) as either loans or grants. Separately from relief offered by the U.S ...
Not long after President Trump announced that the U.S. would impose tariffs on steel and aluminum, the Department of Commerce launched an investigation that may lead to additional duties on imported vehicles and automotive parts. Effective, the Department will now examine whether imports of vehicles and auto parts threaten U.S. national security ...
27.10.2020 –Emergency Ordinance no ...
Since the start of the spread of COVID-19 in Canada, the federal and provincial governments have announced various programs and subsidies to help Canadian businesses survive in light of the challenges posed by necessary social distancing measures, as discussed in our previous blog post here ...
The French Government Ordinance enacted on 26 March 2020[1] create a solidarity fund intended to provide financial aid to natural and private law legal persons having economic activity severely affected by the Covid19 crisis. The Solidarity Fund is created for a three-month period (renewable once for the same duration by decree) and will be funded by the State, and on voluntary basis, by regions and certain other territorial authorities ...
The Abu Dhabi Global Market (the ADGM) recently announced the launch of a commercial license specifically catered towards tech start-ups that allows entrepreneurs to obtain an operational license in the ADGM and access to a Professional Services Support Program aimed at allowing entrepreneurs entry to a community of businesses, financial services and professional advisors ...
Introduction Following the issuance of Consultation Paper 3 of 2023 and the consultation process that followed, on 2 October 2023 the Abu Dhabi Global Market (ADGM) enacted the DLT Foundations Regulations 2023 (theRegulations), aimed at providing a regulatory framework for the creation and operation of specialised foundations for distributed ledger technology (DLT) and decentralised autonomous organisations (DAO) ...
The Abu Dhabi Global Market (ADGM), the financial free zone which began operations in 2015, has now come of age. On 14 April 2019 Mr Alexander Guy, Senior Executive Officer and Director at Eshara Capital Limited, had the uncommon honour of becoming the first named person to be fined by ADGM’s Financial Services Regulatory Authority. Eshara Capital, in its corporate capacity, was also fined in connection with the same contraventions ...
For some years, contractors and subcontractors have been using an effective tactic in adjudication. That is to pick off discrete elements of a large time or money claim and to obtain a series of favourable declarations in adjudications on those elements. The declarations can then be used as a bargaining tool to leverage a settlement of the full claim. Or they can be converted into payment orders by way of a further adjudication ...
This case concerns an adjudicator’s decision issued on 7 December 2020. The adjudicator found in favour of Faithdean plc, ordering Bedford House Ltd, the employer, to repay deductions of around £1.5 million. No payment was made to Faithdean and enforcement proceedings were issued in January 2021. Bedford did not put forward a defence. Instead, it argued it could not pay as it wished to know the exact amount in order to make a single payment to Faithdean ...
