Mondaq Business Briefing back issues from April 2006:
Florida Moves Closer to Implementing Restrictive Credit Scoring Rule.(Financial Services Commission (FSC) voted to adopt an administrative rule for property and automobile insurance)
Apr 01, 2006 ... On January 31, 2006, the Florida Financial Services Commission (FSC)1 voted to adopt an administrative rule which, if implemented, would require insurers to demonstrate by an extraordinary level of proof that the use of credit scores in underwriting personal lines of auto and residential ...
Security Interests in Goods Act 2005 (NSW): March 2006.
Apr 01, 2006 ... Security over Goods in New South Wales New legislation is in place in New South Wales regulating security over 'goods' such as personal property, livestock, fish, crops and wool. The Security Interests in Goods Act 2005 (NSW) became operational on 1 March 2006 and ...
Banking Law briefing/January 2006 - Basel II And Increased Cost Clauses.
Apr 02, 2006 ... The implementation of Basel II (the new capital adequacy framework) may seem to be a rather remote matter. However, banks and borrowers should be considering its effects on increased costs clauses now to ensure that appropriate action is taken with regard to loan and other finance ...
The Draft Company Security Regulations 2006.(fundamental changes to be made to the system of registration of security interests created by companies.)
Apr 02, 2006 ... A brief introduction to some of the fundamental changes proposed to be made to the system of registration of security interests created by companies and the consequent effect on priorities of competing interests. The changes, proposed to be introduced by way of secondary legislation, will ...
Recent Changes To Execution Of Deeds And Documents.(changes to the execution of deeds and documents in order to standardise the formal requirements for execution by companies, corporations and individuals.)
Apr 02, 2006 ... Certain changes to the execution of deeds and documents came into effect on 15 September 2005. The objective was to standardise the formal requirements for execution by companies, corporations and individuals in England and Wales. Whilst the changes are technical in nature, they have ...
New Rules for Resolving Letters of Credit Disputes in China.(Judicial Interpretation of China Supreme People's Court for Resolving Disputes Concerning Letters of Credit disputes entered into force)
Apr 02, 2006 ... On 2006 January 1, the Judicial Interpretation of China Supreme People's Court for Resolving Disputes Concerning Letters of Credit (Judicial Interpretation) entered into force. Under Chinese legal system, this Judicial Interpretation will definitely become the most effective law for ...
Just What Does A Foreign Filing License Cover?(United States. Patent and Trademark Office)
Apr 02, 2006 ... A U.S. subsidiary of a German company sends all invention disclosures to its parent company in Germany for review by the company's patent committee. In an effort to reduce costs, another U.S. company decides to outsource its patent processing to a technology center in India. All ...
Estonian Legal Developments Newsletter January-February 2006.(Environmental Fees Act Adopted)(Estonian Television And Estonian Radio Development Plan Adopted)(Excise Duty Act Amended)
Apr 02, 2006 ... Environmental Fees Act Adopted On 7 December 2005 the Estonian Parliament (Riigikogu) adopted the Environmental Fees Act. The new act sets forth rules for calculating and paying environmental fees, as well as rules for using, controlling and reporting the funds so collected ....
Hot Wings and Hot Pants - Hooters Restaurants Claim Exclusive Rights to Short Shorts.
Apr 02, 2006; ... It's not possible for a single restaurant to have exclusive rights to waitresses wearing tight tank tops and short shorts, or is it? The "HootersO " brand restaurant chain may be better known for the provocative dress of its employees than for its burgers and chicken wing ...
Bargaining on the Future: Limitations for Industrial Action Under WorkChoices.
Apr 02, 2006 ... Key Point It is likely that AWAs will increasingly become the predominant mechanism for employment of public sector employees. The federal Government's workplace relations reform legislation, which passed through Parliament in December 2005, is likely to commence in ...
Cyprus Ship Registry.
Apr 03, 2006 ... Cyprus administers a major international registry within the European Union and controls one of the world's largest merchant fleets. This presently comprises 1,084 ocean going ships of total gross tonnage 21,283,373.1 The Cypriot registry is governed by the Merchant Shipping ...
Extending the Term: Should the UK Recording Industry Have New Obligations as Well as New Rights if the Copyright Term for Sound Recordings is Extended?
Apr 03, 2006 ... In this article Ben looks at the current moves by the UK's recording industry to push for a Europe wide extension in the term of copyright for sound recordings - from fifty years to ninety five years. But Ben asks if this is the time for a complete overhaul in the way copyrights are owned ...
U.S. Supreme Court Unanimously Bars State Law Class Action Securities "Holding" Claims.
Apr 03, 2006 ... By an 8-0 vote, the United States Supreme Court has closed a potential "escape hatch" for plaintiff investors and attorneys seeking to maintain and litigate class action securities fraud lawsuits based on state law, rather than federal law. In Merrill Lynch, Pierce, Fenner & Smith, Inc. v ....
2005 IP Year In Review.(Palladium Music Inc. v. Eat Sleep Music Inc.)(Bridgeport Music Inc. v. Dimension Films)(Metro-Goldwyn-Mayer Inc. v. Grokster Ltd.)
Apr 03, 2006 ... Article written and edited by Sedgwick's Los Angeles based Media Law Group Digital Music Cases Palladium Music, Inc. v. Eat Sleep Music, Inc., 398 F.3d 1193 (10" Cir. 2005) Palladium Music created karaoke music sound recordings from original music ...
Thou Shalt Not Make Unto Thee a Graven Image, Unless It's Art?
Apr 03, 2006 ... In New York, thou shalt not use another's likeness without consent for advertising purposes or for purposes of trade.1 However, oftentimes the line between what constitutes trade and what constitutes art can be as fuzzy as political math. Add to this equation the fact that one person's art ...
Some Outsourcing Arrangements Now Subject to Ombudsman Investigation.
Apr 03, 2006 ... Key Point Recent clarification of the Ombudsman's power to investigate activities of some government contractors serves as a reminder to agencies of the need to maintain accountability in outsourcing arrangements. What's changed? The Migration and ...
Informants and procedural fairness: the High Court's decision in VEAL.
Apr 03, 2006 ... Key Points Information received by a decision-maker that is credible, relevant and significant to a decision to be made must be disclosed to a person who will be affected by the decision. The principles of procedural fairness must accommodate the public interest in ...
FSA encourages firms to convert Collective Investment Schemes.
Apr 03, 2006 ... From 13 February 2007 the new Collective Investment Schemes sourcebook (COLL) will become mandatory for all authorised schemes, and the Collective Investment Schemes sourcebook (CIS) will be revoked. The FSA has advised Authorised Fund Managers (AFMs) to convert their schemes to COLL ahead ...
Grace Period for Restrictions on Funding Nonqualified Deferred Compensation.
Apr 03, 2006 ... Originally published March 24, 2006 The IRS has issued Notice 2006-33 to provide a transition period for bringing nonqualified deferred compensation (NQDC) plans funded with offshore trusts or funding arrangements with financial health triggers into compliance with Internal ...
Energy Restructuring and Creditors' Rights.
Apr 03, 2006 ... Originally published March 23, 2006 District Court Without Jurisdiction Over Calpine Efforts to Reject Power Contracts A January 27, 2006 opinion by the U.S. District Court for the Southern District of New York in the bankruptcy case of Calpine Corporation raises ...
Summary of Selected Programs from SIA Compliance & Legal Division's 2006 Annual Seminar.(Securities Industry Association)
Apr 03, 2006 ... Originally published by March 27, 2006 Last week, the Securities Industry Association Compliance & Legal Division hosted its annual seminar, with some 1500 securities industry participants and observers attending. Although the seminar is a great opportunity to catch up with old ...
Draw on Letter of Credit Not Limited by Cap on Landlord Claims.
Apr 03, 2006 ... Parties to commercial transactions routinely employ letters of credit as a means of minimizing credit exposure and shifting the risk of non-performance. As a general rule, even a bankruptcy filing by the account debtor will not prevent the beneficiary from drawing on a letter of credit ...
Directors and Officers be Aware: Civil Liability for Secondary Market Disclosure is Now in Force Since December 31, 2005.
Apr 03, 2006 ... Edited by Julie-Martine Loranger Potential Impact: Facilitating Class Actions Introduction Under the new amendments to the Securities Act (Ontario), pertaining to civil liability for secondary market (also known as Bill 198) now into force, directors and ...
Cramdown of Secured Creditor Under Chapter 11 Plan Requires Market Rate of Interest.
Apr 03, 2006 ... If the proponent of a chapter 11 plan cannot obtain the requisite percentage of creditor votes to achieve consensual confirmation of the plan, the plan may still be confirmed under certain circumstances over the objection of dissenting classes of creditors. Non-consensual confirmation, ...
USPTO to Bar: We Are Drowning in Continuations.(Patent and Trademark Office)
Apr 03, 2006 ... The U.S. Patent and Trademark Office (USPTO), in an attempt to reduce its considerable backlog, is trying to change the rules governing examination of patent applications. The USPTO proposals, if adopted, will substantially change current practice. Currently, when a new ...
Googling Competitors' Trademarks for Trouble.
Apr 04, 2006; ... Article written and edited by Sedgwick's Los Angeles based Media Law Group On April 13, 2004, the Internet's most popular and influential search engine, Google, announced plans to change its advertising policy to allow advertisers to bid for the use of trademarked terms-- which ...
Loan Groups Protest Enron Equitable Subordination Ruling.
Apr 04, 2006 ... A bankruptcy judge for the U.S. District Court for the Southern District of New York has issued a troubling and controversial ruling holding that claims held by innocent parties who purchased in good faith may be subject to equitable subordination if the previous holder engaged in ...
Material Alteration To The Insured Risk.(Swiss Reinsurance Co v United India Insurance Co Ltd.)
Apr 04, 2006 ... Originally published in The Insurance Law Quarterly: Winter 2005 At common law, an insurer faced with changed circumstances which materially alter the insured risk during the course of the policy is entitled to treat the insurance contract as automatically discharged. Earlier ...
New Safety Case Regulations for the offshore oil and gas industry.
Apr 04, 2006 ... The Offshore Installations (Safety Case) Regulations 2005 (OSCR) come into force on 6th April 2006. OSCR will replace the previous 1992 Regulations, subject to a number of transitional arrangements. OSCR and its predecessor form the cornerstone of Lord Cullen's recommendations ...
Liberalisation of OTC Medicines Discussed Further.
Apr 04, 2006 ... In its report on the liberalisation of professional services to Parliament and Government, the Italian Competition Authority (the "Authority") has reiterated the importance, as well as the need, to liberalise the distribution of over-the-counter ("OTC") medicines. The aim is to extend ...
U.S. Company Gl Farms Files Nafta Chapter 11 Claim Against Canada.(Great Lakes Farms)(Reprint)(Brief article)
Apr 04, 2006; ... Article by Cliff Sosnow, [c]2006, Blake, Cassels & Graydon LLP This article was originally published in Blakes Bulletin on International Trade, March 2006 A U.S.-owned exporter of dairy products has just filed a request for arbitration under the North American Free Trade ...
Public-Private Partnerships.
Apr 04, 2006 ... Article by Jeff Merrick, [c]2006 Blake, Cassels & Graydon LLP This article was originally published in Blakes Bulletin on Real Estate, March 2006 British Columbia is rapidly emerging as a leader in the Canadian public-private partnership (P3) market. The provincial ...
Shareholder Successfully Claims For Loss In Share Value.(Sons of Gwalia Ltd v Margaretic )
Apr 04, 2006 ... In the Margaretic case, a shareholder successfully argued his case against the administrators of a company for his claim of losses suffered by him as a result of depreciation of the value of his shares. In the recent case of Sons of Gwalia Ltd v Margaretic (2005), Luka ...
SEC Issues Guidance on Perquisites and Personal Benefits That Is Applicable for the Current Proxy Season; Proposes Related Rule Changes for Future Proxy Seasons.(Securities and Exchange Commission)
Apr 04, 2006 ... Originally published February 21, 2006 On January 17, 2006, the Securities and Exchange Commission proposed a major overhaul of the executive compensation disclosure requirements. Release Nos. 33-8655; 34-53185; IC-27218. In the proposing release the SEC has also provided ...
U.S. Courts of Appeal.(SEC v. Great White Marine & Recreation Inc.)
Apr 04, 2006 ... Originally published in Reed Smith's Commercial Restructuring & Bankruptcy Alert, January 2006 Creditor Claims Subordination Upheld *SEC v. Great White Marine & Recreation, Inc., et al., 428 F.3d 553 (5th Cir. 2005) A federally appointed receiver dissolved the ...
Federal District and Bankruptcy Courts.(Houlihan, Lokey, Howard & Zukin Capital Inc. v. Northwestern Corp)
Apr 04, 2006 ... Originally published in Reed Smith's Commercial Restructuring & Bankruptcy Alert, January 2006 Administrative Fees Restored*Houlihan, Lokey, Howard & Zukin Capital, Inc. v. Northwestern Corp. (In re Northwestern Corp.), 332 B.R. 534 (D. Del. 2005) The U.S. District ...
How To Respond To A Criminal Antitrust Investigation: A Practical Approach In Today's Enforcement Environment Part 1 of 2.
Apr 04, 2006 ... The surge in criminal antitrust enforcement over the last decade has made it more important than ever for defense counsel to be completely familiar with all the pretrial activities that may take place in a criminal investigation. With a few notable exceptions, most of the Antitrust ...
How To Respond To A Criminal Antitrust Investigation: A Practical Approach In Today's Enforcement Environment Part 2 of 2.
Apr 04, 2006 ... D. Contact Others in the Industry Who May Have Received a Subpoena to Form a Joint Defense Arrangements 1. Sharing Information and Resources Among Joint Defense Counsel Can Be Essential to Adequate Defense Preparation. a. Sharing information allows counsel to assess ...
Bill 36: Local Health System Integration Act, 2006.
Apr 04, 2006; ... By Anne C. Corbett and John M. Risk The creation of Local Health Integration Networks ("LHINs") is a major part of the government's transformation agenda for the health care system. On March 28, 2006, the government passed into law the Local Health System Integration Act, 2006 ...
PaperlinX Fine Paper Merger Closes With a Remedy.(with Cascades Fine Paper Group Inc.)
Apr 04, 2006 ... On March 1, 2006, following the filing of a consent agreement with the Competition Tribunal, PaperlinX Canada (formerly Coast Paper Ltd.) completed its acquisition of Cascades Fine Paper Group Inc.'s fine paper merchant business known as Cascades Resources. The closing followed PaperlinX ...
FINCEN Issues New Due Diligence Requirements For Anti-Money Laundering Programs.(Financial Crimes Enforcement Network )
Apr 04, 2006 ... The Financial Crimes Enforcement Network ("FinCEN") recently has shown an increased assertiveness in its enforcement of anti-money laundering regulations. Both a major bank (ABN AMRO) and securities dealer (Oppenheimer & Company) were assessed penalties in the millions of dollars by FinCEN ...
Will a Warranty Always Enable an Employer to Pursue a Claim Against the Contractor if the Developer Becomes Insolvent?(Chelverton Properties Ltd. contract with Safeway Inc.)
Apr 04, 2006 ... Chelverton Properties Ltd, property developers, entered into a contract with Safeway under which Chelverton were to design and construct a supermarket which included a two-deck car park. Chelverton entered into a building contract with Interserve. Interserve entered into a warranty with ...
U.K. Pensions Issues on Sales and Acquisitions - Shares or Assets?(Defined benefit plans)
Apr 04, 2006 ... Pension liabilities in UK defined benefit (DB) pension plans have increased dramatically in recent years. Liabilities can be measured in many ways, but the ultimate liability is the cost of buying immediate deferred annuities for plan beneficiaries (the "buy-out" cost). This is the most ...
Difficult to Apply and Hard to Avoid: Canada's Foreign Investment Entity (FIE) Rules.
Apr 04, 2006 ... In response to a perceived increase in the use of offshore investment structures to avoid Canadian income tax, the Department of Finance first introduced complex tax legislation that governs the treatment of direct or indirect investments in certain foreign entities by Canadian taxpayers ...
Mail Orders And Reasonable Responses.(use of emails in corporations)
Apr 04, 2006 ... It's not what you say, it's how and whether your company's e-mail policy lets you say it. According to a recent news story, a senior executive at Scottish Television was fired after allegedly describing her managing director as "that big fat thing" in an apparently sympathetic ...
Environment calendar - April 2006.
Apr 04, 2006 ... The environment calendar highlights key dates for proposed and existing legislation and policy and closing dates for consultation papers relating to major environment issues in the EU and England. It will provide a useful tool for environment managers tracking new legislation ...
Health & Safety calendar - April 2006.(occupational safety and health)(Brief article)
Apr 04, 2006 ... The health and safety calendar highlights key dates for proposed and existing legislation and policy and closing dates for consultation papers relating to major health and safety issues in the UK and EU. It will provide a useful tool for health and safety managers tracking new ...
What You Need to Know About Patents and Their Value.
Apr 04, 2006 ... Originally published on MIT's TechnologyReview.com, April 4, 2005 Amidst rapid technological change, patents have suddenly become the hot ticket in town. The number of patents issued in the United States rose to 187,000 in 2003, up 22 percent from 1999. For inventors ...
The First Power Auction in Ontario is a Success.(Brief article)
Apr 05, 2006 ... Article by Robert Power, [c]2006, Blake, Cassels & Graydon LLP This article was originally published in Blakes Bulletin on Energy - March 2006 On February 28, 2006, the Ontario Power Authority (OPA) facilitated the first power auction in Ontario. Based upon the ...
Ontario's Bill 51 Likely to Increase Municipal Control Over Land-Use Planning.
Apr 05, 2006 ... Would Put Pressure on Involved Parties to Act Quickly, Decisively On December 12, 2005, Bill 51, which would amend Ontario's Planning Act and Conservation Land Act, was given first reading by the province's Legislative Assembly. The intention of the bill is to improve the ...
Intellectual Property Update.(trademark law)
Apr 05, 2006 ... Newfoundland Trade-marks: A Primer Newfoundland trade-mark registrations often turn up in clearance searches undertaken to assess the availability of new trade-marks for use in Canada, and can be a source of puzzlement to anyone unfamiliar with their historical background. An ...
Employee Optionholders and Shareholders - Foresight is Key to Maintaining Flexibility for the Future.
Apr 05, 2006 ... Companies often use stock option plans to attract, retain and motivate their employees and consultants, as well as to bring their interests into alignment with those of the shareholders. For early-stage companies, a policy of offering options has the additional advantage of conserving cash ...
Will a Warranty Always Enable an Employer to Pursue a Claim Against the Contractor if the Developer Becomes Insolvent?
Apr 05, 2006 ... Chelverton Properties Ltd, property developers, entered into a contract with Safeway under which Chelverton were to design and construct a supermarket which included a two-deck car park. Chelverton entered into a building contract with Interserve. Interserve entered into a warranty with ...
FERC Delays Start Of Southwest Power Pool's Energy Imbalance Market.(Federal Energy Regulatory Commission)
Apr 05, 2006 ... This Client Alert is prepared by the Energy Practice Group of Powell Goldstein LLP On March 20, 2006, the Federal Energy Regulatory Commission ("FERC") issued an order delaying the implementation of the Southwest Power Pool's ("SPP") real-time energy imbalance market until ...
U.S. Court Rejects Formula Apportionment in Computing Business Profits of a Foreign Bank Branch.(U.S. Court of Federal Claims)
Apr 05, 2006 ... In December 2005, the U.S. Court of Federal Claims held that National Westminster Bank, PLC, a U.K.-based multinational bank (NatWest), was not required to apply the formula-based apportionment of interest expense required under domestic U.S. tax law and ruled instead that it was entitled ...
FRB Releases Draft Notice of Proposed Rulemaking Regarding "Basel II".(Federal Credit Unioun)
Apr 05, 2006 ... Developments of Note FRB Releases Draft Notice of Proposed Rulemaking Regarding "Basel II" FRB Governor Bies Makes Presentation Concerning Certain Recent FRB Regulatory Initiatives Basel Committee Issues Guidance on Use of Vendor Products in Basel II ...
Getting the Most out of Your IP Due Diligence.(for biotechnology industries)
Apr 05, 2006 ... The global biopharma market continues to expand and is predicted to continue doing so for many years to come. A review of recent financial and biopharma press coverage indicates that mergers and acquisitions remain prevalent within this industry. Recent press coverage also indicates that ...
Secondary Buyouts - Rewriting the Rules.(Reprint)
Apr 05, 2006; ... This article originally appeared in The Birmingham Post, Deal of the Year Supplement. Secondary buyouts are on a bit of a roll. These sales between private equity houses continue to be a valuable deal source and attractive exit routes for investors. Latest figures show that the ...
As Time Goes By.
Apr 05, 2006 ... This article appeared in Construction News in February 2006 and was written by Catriona Dodsworth at Pinsent Masons. Construction Contracts are littered with provisions requiring things to be done within a prescribed period, be it a month, a week or a number of days and they all ...
Perspective: It's Time for Mobile-Gadget Etiquette.(Biography)
Apr 05, 2006 ... Enough! Whether on a bus, train or ferry, in a store, at the movie theater, in an office (or practically any public place), I find myself bombarded by the rings of cell phones or the alerts and alarms of personal digital assistants. For me, the worst of such fairly ...
OFCOM publishes Annual Plan on day that convergence becomes reality.
Apr 05, 2006 ... Ofcom, the regulator for the UK communications industries (with responsibilities across television, radio, telecommunications and wireless communications services) published its 2006/2007 Annual Plan today. The publication of the plan coincides with the announcement of cable operator NTL's ...
Mishcon's Culture vs Corruption Diary.
Apr 05, 2006 ... Welcome Welcome to the first edition of Mishcon's Culture vs Corruption Diary, the object of which is to better inform those within corporations responsible for managing the fraud risk by illustrating how different countries treat issues which lie at the very heart of ...
Mishcon Fraud Watch (April).
Apr 05, 2006 ... Welcome Welcome to the April edition of Mishcon Fraud Watch, prepared by the Corporate Investigations & Asset Recovery Group at Mishcon de Reya. Its aim is to provide businesses and their advisors with a snapshot of what has been happening in the world of fraud in the last ...
Brawoliner Passes Infiltration Test With Flying Colours.(Karl Otto Braun KG)
Apr 05, 2006 ... The Brawoliner[R] system is manufactured in Germany by KOB (Karl Otto Braun KG) of Wolfstein. Brawoliner uses a seamless lining textile fabric that is applicable to pipes from 75 to 250 mm diameter, with wrinkle free installation around 90o bends. The system is normally installed utilising ...
UKTFA Provides Free Part L Consultancy Support At Seminar.(UK Timber Frame Association)(Brief article)
Apr 05, 2006 ... Housebuilders, developers and their design teams will receive free advice on compliance with the new Building Regulations from accredited SAP Assessors and other technical experts at the forthcoming Part L Seminar and Clinic being organised by the UK Timber Frame Association (UKTFA) on ...