Mondaq Business Briefing back issues from September 2008:
New FASB Accounting Rules On Convertible Debt.(Financial Accounting Standards Board)(Law overview)
Sep 01, 2008 ... Issuers contemplating a financing should take note of new accounting guidance affecting certain convertible securities. Cash-settled convertible bonds have been a popular means of financing for issuers because the issuance of these bonds had a less dilutive effect on earnings per share ...
Recent Delaware Court Rulings Highlight Need For Review Of Director Indemnification Arrangements.(Delaware. Court of Chancery)
Sep 01, 2008 ... Two recent Delaware Chancery Court decisions stress the need for private equity funds to consider implementing and/or expanding indemnification arrangements for portfolio company directors. Schoon v. Troy Corporation: Court Allows Retroactive Repeal of Director Advancement ...
Threading The American Needle: Required Cooperation In Producing Football Games Provides NFL Teams With A Free Pass On Antitrust Scrutiny Of Their Collective Licensing Efforts.(National Football League)
Sep 01, 2008; ... The United States Court of Appeals for the Seventh Circuit has held that the National Football League is a single entity for purposes of licensing team trademarks, thus freeing the NFL's licensing decisions from Sherman Act s. 1's prohibition against group conduct that unreasonably ...
Is Poker A Game Of Chance? The Australian Position.
Sep 01, 2008; ... Overview The recent case of Police v Jones, Police v Ravesi [2008] SAMC 62 confirms that poker involves skill and is not merely a game of chance. Although the outcome of this case was dependent on the specific wording of the South Australian statute, it confirms the view ...
Energy And Clean Technology Alert: "Green Jobs" And "Global Warming" Bills Get Patrick's Signature.(Law overview)
Sep 01, 2008 ... After signing into law the Global Warming Solutions Act last Friday, Governor Deval L. Patrick today did the same for the Green Jobs Act, legislation that Patrick says adds to the progress in "making Massachusetts a world-class center for clean energy." The Green Jobs Act draws $43 ...
Environmental, Energy & Resources Newsletter - August 2008.
Sep 01, 2008; ... Edited by Barry N. Spiegel In this issue ... Ontario's Boreal Forest Protection Initiative Ontario Launches Mining Act Update Process Right-to-know Bylaw on Hold Important GHG Deadline Approaching Fast Lafarge ERT Decision ...
Employment Advisory: EEOC Issues New Compliance Guidance On Religious Discrimination In The Workplace In Response To A Dramatic Increase In Charge.(Equal Employment Opportunity Commission)(Law overview)
Sep 01, 2008 ... In July, the U.S. Equal Employment Opportunity Commission (EEOC) issued a new section (Section 12) to its Compliance Manual specifically related to religious discrimination in the workplace. Section 12 includes a comprehensive review of the relevant provisions of Title VII of the Civil ...
Antitrust Advisory: Unions' Exemption From Antitrust Laws Is Not Made Of Steel.(American Steel Erectors, Inc. v. Local Union No. 7)
Sep 01, 2008 ... On August 1, 2008, the U.S. Court of Appeals for the First Circuit reversed and remanded the district court's grant of summary judgment for defendant, a local labor union, on Plaintiff's federal antitrust claims in American Steel Erectors, Inc. v. Local Union No. 7 (Docket No. 07-1832 ...
Adobe Awarded Remedy: Rathi To Render Damages.(Adobe Systems v. Rohit Rathi)(trademark infringement case)
Sep 01, 2008; ... Deceptive Similarity now extends itself beyond trademarks to the realm of domain names as well. While the principles that apply to both are similar, the jurisprudence to extending such principles seems to lie in the fact that web addresses are increasingly becoming an extension of a ...
Antigua & Barbuda - Denial of United States Visas.
Sep 01, 2008; ... A new law was discretely introduced by the United States Government on 29 April 2008 - Denial of Visas to Confiscators of American Property. Under 9 FAM 40.207 Section 2225 of Division G of Public Law 105 -277 the Secretary of State may deny issuance of a visa to any alien, ...
Principles Of Natural Justice Violated By Patent Office Authorities.(Case overview)
Sep 01, 2008; ... The Indian Judiciary often witnesses disputes and debates centered around the tenets of administrative law. In a dispute regarding communication of an examination report, the well established principles came up for consideration yet again. The case of Ferid Allani v. UOI 2008 (37) PTC ...
Chipping The Jurisdiction Issue.(trademark infringement case)(K. Narayanan and Anr. v. S Murali)(Case overview)
Sep 01, 2008; ... Simple pleasures sometimes invite a steaming brawl. The perfect example of such a scenario is the application for Special Leave to Appeal [K. Narayanan and Anr. v. S Murali, Civil Appeal Nos. 4480-4481 of 2002] that came forth the Supreme Court, involving manufacturers and sellers of ...
Dissuasion's Disappearance: DOL Again Retreats On Its PERM "Consideration" Analysis.(Department of Labor)(permanent labor certification program)(Law overview)
Sep 01, 2008 ... The U.S. Department of Labor (DOL) has retreated once again from the silly summer brouhaha it sparked on June 2 with the issuance of an ill-advised press release announcing the audit of all corporate clients of the Fragomen law firm. As readers from my previous articles (first, second ...
Obligation To Pay Damages.(Case overview)
Sep 01, 2008; ... Will increasing a patient's underlying risk impose on a hospital/doctor an obligation to pay damages? Consider the following: 1. A patient has an underlying risk of a heart attack of 10%. Due to negligent treatment, that risk increases to 15%. The patient has a heart attack ....
Legal Update: Changes To The Off-The-Plan And Refurbished Lots Duty Concessions.(Law overview)
Sep 01, 2008; ... The Victorian government has moved to simplify the administration of the off-the plan and refurbished lots duty concessions. The changes should reduce the cost and administrative burden on developers. However, the new record keeping requirements and the imposition of joint & several ...
Chile Considers Legislation To Modernize Its Insurance And Reinsurance Laws.(Law overview)
Sep 01, 2008; ... The Chilean legislature was recently presented with a draft law designed to modernize the insurance and reinsurance provisions contained within Chile's Code of Commerce. If enacted, the legislation would replace Chile's current laws concerning private insurance and reinsurance in their ...
Brazil Issues New Regulations Governing Maximum Cession Levels To Occasional Reinsurers.(Law overview)
Sep 01, 2008; ... Brazil's insurance regulator, the Superintendency of Private Insurance (SUSEP), recently issued regulations establishing that cessions to occasional reinsurers (see definition below) by Brazilian insurers may not exceed 10% of the total premiums ceded to reinsurers. The new regulations ...
SEC To Publish Proposed Roadmap For Use Of IFRS By U.S. Issuers.(Securities and Exchange Commission)(International Financial Reporting Standards)(Law overview)
Sep 01, 2008; ... Securities Law Update On August 27, 2008, the Securities and Exchange Commission voted unanimously to release a proposed roadmap for the use by U.S. issuers of financial statements prepared in accordance with International Financial Reporting Standards ("IFRS") rather than ...
Venezuelan Supreme Court Upholds Constitutionality Of Candidate Blacklist.
Sep 01, 2008; ... The Venezuelan Supreme Court recently upheld the constitutionality of blocking 272 mostly opposition candidates from running for office on the basis of suspicion of corruption. The court rejected arguments that the blacklist was unconstitutional because many of the listed candidates ...
European Privacy Laws A Stumbling Block For ASIC.(Australian Securities and Investments Commission)
Sep 01, 2008; ... Nick Hart looks at how European rights to privacy have recently dealt a blow to ASIC's requests in the UK to obtain information for its investigations in connection with the infamous Offset Alpine affair. The Offset Alpine affair The Offset Alpine affair has attracted ...
Sixth Circuit Makes It Easier For Employees To Get Jury Trials In Title VII "Mixed-Motive" Bias Cases.(White v. Baxter Healthcare Corp.)(Case overview)
Sep 01, 2008; ... In its recent ruling in White v. Baxter Healthcare Corp., No. 07-1626 (July 3, 2008), the U.S. Court of Appeals for the Sixth Circuit has significantly lightened the evidentiary burden on an employee to defeat an employer's motion for summary judgment in a "mixed-motive" case - that ...
Neverending Story - The Latest In NSW Planning Reforms.(New South Wales)
Sep 01, 2008 ... Key Points The first (minor) provisions of the recent NSW planning reforms have begun, but it may take 12 months for the full package of reforms to commence. There's a NSW Parliamentary Inquiry into the NSW planning framework underway, and a new Ministerial ...
Mining Legislation Amendment And Validation Act 2008 (WA) - Prescribed Purposes For Miscellaneous Licences.
Sep 01, 2008 ... The Western Australian Parliament recently passed the Mining Legislation Amendment and Validation Act 2008 (WA) (MLAV Act), which introduces, among other things, some important changes regarding the prescribed purposes for miscellaneous licences. Regulation 42B of the Mining ...
Back To The Future With NPfIT?(NHS National Programme for IT)(National Health Service and information technology)
Sep 01, 2008; ... The last few years have seen a steady erosion of the NHS National Programme for IT (NPfIT) - Fujitsu's recent contract termination in the South, Accenture's withdrawal from North East and East of England, GPSoC, and the new framework for additional supply capability and capacity ...
National Workers Compensation: Is It Coming?
Sep 01, 2008; ... The last four years has seen much speculation about whether or not we will soon find ourselves subjected to a national framework for Workers Compensation. It forms part of the wider debate raging over Federalism. Should the States have the power to legislate in specific areas ...or ...
Joint Venture Operators Of A Mine Denied Indemnity For Consequential Loss Under Industrial Special Risks Insurance Policy In The Absence Of Physical Damage To Property.(Law overview)
Sep 01, 2008 ... A recent decision of the Victoria Court of Appeal underscores the importance of seeking appropriate legal advice when inserting additional clauses into policies of insurance.1 When inserting additional clauses, it is important to ensure that account is taken of the structure of the ...
Earnouts - Creating Tax Complexity.(Law overview)
Sep 01, 2008; ... Many agreements for the sale of a business include the payment of an additional amount if the business meets an agreed benchmark in the future is known as earnouts. While it may make commercial sense, earnouts can have significant adverse income tax impacts on both the buyer ...
SEC Signs First Mutual Recognition Agreement With Australian Authorities.(United States. Securities and Exchange Commission)
Sep 01, 2008; ... Originally published August 27, 2008 Keywords: SEC, mutual recognition agreement, Australian Securities and Investment Commission, ASIC, Superannuation and Corporate Law, securities markets, broker-dealer firms, Australian investors, Memoranda of Understanding, MOU, enhanced ...
Contracting Under Indian Or English Law: Part 2 - Key Contract Differences.(Indian Contract Act )
Sep 01, 2008; ... Introduction This article is the second in a series of three articles looking at some of the key differences between contracts made under Indian law and those made under English law. The articles assume that the reader is familiar with the principles of English contract law, ...
Contracting Under Indian Or English Law: Part 1 - The Indian Legal Framework.
Sep 01, 2008 ... Introduction This article is the first in a series of three articles looking at some of the key differences between contracts made under Indian law and those made under English law. The articles assume that the reader is familiar with the principles of English contract law, ...
IMPORTANT REMINDER! - Section 409A Deferred Compensation Compliance Deadline Rapidly Approaching.
Sep 01, 2008 ... The time to bring ALL deferred compensation arrangements into final compliance with new requirements of federal law is rapidly approaching! Failure to act now could result in the imposition of severe tax penalties. Under the new law (known as "Section 409A" of the Internal Revenue ...
FTC Takes Action Against Prerecorded Sales Calls.(United States. Federal Trade Commission)
Sep 01, 2008; ... Do you hate prerecorded sales calls? If so, you are not alone. Indeed, the Federal Trade Commission (FTC) has been inundated with complaints about such calls. As a result, the FTC has just announced an amendment to the Telemarketing Sales Rule (TSR) that expressly bars telemarketing ...
Derogatory Blog Posts Result In A Justified Dismissal.
Sep 01, 2008 ... An Alberta arbitration board has recently released a decision concerning the dismissal of an employee as a result of the contents of the employee's online blog site. In this case, an administrative employee in the Alberta Public Service (the "Grievor") was dismissed after the employer ...
Quebec Government Adopts Securities Transfer Legislation.
Sep 01, 2008; ... An Act respecting the transfer of securities and the establishment of security entitlements (the Quebec STA) received Royal Assent on June 20, 2008 and will come into force on January 1, 2009. The adopted legislation differs from Bill 47 as initially introduced in the National Assembly ...
Supreme Court Of Canada To Consider Limitation Of Liability Clauses In Tender Documents.(British Columbia. Ministry of Transportation)
Sep 01, 2008 ... Tercon Contractors Ltd. v. British Columbia (Ministry of Transportation) On July 10, 2008, the Supreme Court of Canada granted leave to appeal and will hear the appeal of Tercon Contractors Ltd. ("Tercon"). Previously, the British Columbia Court of Appeal had overturned the ...
New Mobile Banking Products Present Opportunities And Challenges.
Sep 01, 2008; ... Printed in Wisconsin Community Banking News June 2008 Online banking revolutionized how consumers conduct banking transactions for those who own computers and have Internet access. Although online banking initially stagnated in its infancy, mobile banking is expected to ...
The Scotch-Scot Scuttle.(Scotch Whisky Association)(Khoday India Pvt. Ltd.)
Sep 01, 2008 ... Khoday Distilleries Ltd. (known as Khoday India Pvt. Ltd.) incorporated under the Companies Act, 1956. Manufacturers of whisky under the mark "Peter Scot", a trademark was applied for in May 1968. In its row of litigations regarding its trademark, the Supreme Court admitted an appeal ...
VASTU PYRAMID Establishes Stand As Prior User.(Trademark Amendments Act of 1999)
Sep 01, 2008; ... Irrespective of being big brands or smaller players, the awareness about protecting one's intellectual property is on the rise. As disputes, forages and court litigations rise, this sphere of law is becoming busier each passing day. While the tug of war to rightly be conferred with ...
Toshiba Moves to SC: Appeal Allowed.(Toshiba Corp.)(TOSIBA Appliances)
Sep 01, 2008 ... Toshiba is one of the largest manufacturers of Heavy Electrical apparatus in Japan. The establishment started in the name of Shibaura Engineering Works in the year 1857 and later changed its name to Kabushiki Kaisha Toshiba (for short, TOSHIBA).They adopted the mark TOSHIBA in which ...
Key Right Of First Refusal Provision "Ambiguous": Case Sent Back For More Evidence.(Alberta. Court of Appeal)(Canadian Natural Resources Ltd.)
Sep 01, 2008 ... Copyright 2008, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on Energy - Oil & Gas/Litigation, August 2008 On August 5, 2008, the Alberta Court of Appeal issued a decision of significance and concern to the oil and gas industry in Canada ....
Canada Concludes FTA And Related Agreements With Jordan.(Free Trade Agreement)
Sep 01, 2008 ... Copyright 2008, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on International Trade, August 2008 On August 25, 2008, the Government of Canada announced the conclusion of free trade negotiations with the kingdom of Jordan. The Canada-Jordan ...
SPACs Coming To Canada - Toronto Stock Exchange Proposes New Rule To Permit Listings.(special purpose acquisition companies)
Sep 01, 2008 ... Copyright 2008, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on Corporate Finance, August 2008 Despite a significant slowdown in traditional initial public offerings, the U.S. has experienced significant growth in IPOs over the past 24 ...
Corporate Manslaughter And Corporate Homicide Act 2007.
Sep 01, 2008; ... Background The introduction of the offence of corporate manslaughter (corporate homicide in Scotland)1 in April 2008 was inevitably going to trigger debate - as to whether the offence will provide the panacea for all ills when it comes to corporations being held accountable ...
Recent OIG Advisory Opinion Calls Proposed Arrangement Between Physician Groups Potentially Illegal.(Office of Inspector General)(healthcare regulations)
Sep 02, 2008; ... In its Aug. 26, 2008 Advisory Opinion, No. 08-10, the Department of Health and Human Services Office of Inspector General (OIG) said a proposed relationship between two physician groups potentially violates the anti-kickback statute. The block lease arrangement called for one group to ...
Technology Licences Upon Bankruptcy.
Sep 02, 2008 ... Imagine that a critical part of your business is dependent on a software program that you licence from a software supplier. This scenario is not that hard to imagine, because in fact most businesses and other organizations are indeed reliant on licensed software - it is simply a fact ...
Continuous Disclosure Of Investment Funds.
Sep 02, 2008 ... The Investment Funds Branch of the Ontario Securities Commission (OSC) recently issued OSC Staff Notice 81-709 Report on Staff's Continuous Disclosure Review of Investment Funds (Notice). The Notice focused on issues identified by the Branch in the course of an issue-oriented review ...
Cyber Insurance In Disarray.(Reprint)
Sep 02, 2008 ... Reprinted with permission from the July 2008 issue of Risk Management Magazine. Copyright 2008 Risk and Insurance Management Society, Inc. All rights reserved. To say that the insurance market for computer-related perils is in a state of flux is putting it politely. Insuring ...
Internal Revenue Service Technical Advice Memorandum On Manufacturer's Warranty Risks.(United States. Internal Revenue Service)
Sep 02, 2008; ... The Internal Revenue Service (IRS) recently issued Technical Advice Memorandum 200827006, addressing whether manufacturer's original warranty risks covered by reimbursement policies purchased by a retailer constitute insurable risks for federal tax purposes. The IRS ruled that ...
Directors Exposed To Personal Liability For Sale Of Company.
Sep 02, 2008 ... As a result of a controversial Delaware Chancery Court (Court) decision, independent directors now face substantially greater personal risk when selling a company. In Ryan v. Lyondell Chemical Co., the Court refused to grant summary judgment in favor of the directors of Lyondell ...
Discretionary Will Trusts: Are They Still Useful?(Inheritance tax)
Sep 02, 2008; ... Some people have concluded that discretionary will trusts no longer have a place in capital tax planning following the introduction last October of the transferable nil rate band (NRB) provisions. Since last October any NRB allowance which is not used on the first death can be ...
Employment Alert: DOL Issues Proposed Rules To Update Regulations Issued Under The Fair Labor Standards Act.(Fair Labor Standards Act)
Sep 02, 2008; ... On July 28, 2008, the U.S. Department of Labor's Wage and Hour Division published a proposed rule that will update regulatory provisions under the Fair Labor Standards Act of 1938 ("FLSA") and Portal-to-Portal Act of 1947 ("Portal Act"). The proposed revisions incorporate certain ...
Weekly Climate Change Policy Update - August 4, 2008.(Clean Air Act)
Sep 02, 2008 ... Article by Kyle W. Danish, Shelley N. Fidler, Andrea Hudson Campbell and Kevin M. Gallagher To receive the Weekly Update via email, visit our Sign Up/Subscribe page http://www.vnf.com/news-signup.html Commentary This week's most significant news involves a ...
Weekly Climate Change Policy Update - August 11, 2008.
Sep 02, 2008 ... Article by Kyle W. Danish, Shelley N. Fidler, Andrea Hudson Campbell and Kevin M. Gallagher To receive the Weekly Update via email, visit our Sign Up/Subscribe page http://www.vnf.com/news-signup.html Commentary Energy policy has moved to the front burner in ...
Weekly Climate Change Policy Update - August 18, 2008.(National Environmental Policy Act of 1969)(Law overview)
Sep 02, 2008 ... Article by Kyle W. Danish, Shelley N. Fidler, Andrea Hudson Campbell and Kevin M. Gallagher To receive the Weekly Update via email, visit our Sign Up/Subscribe page http://www.vnf.com/news-signup.html Commentary In an otherwise slow August, the staff of the ...
Weekly Climate Change Policy Update - August 25, 2008.
Sep 02, 2008 ... Article by Kyle W. Danish, Shelley N. Fidler, Andrea Hudson Campbell and Kevin M. Gallagher To receive the Weekly Update via email, visit our Sign Up/Subscribe page http://www.vnf.com/news-signup.html Commentary Back in July, the EPA released its Advance Notice ...
Employment Advisory: U.S. Department Of Labor's Office Of Federal Contract Compliance Programs Unveils New Initiatives For Veterans And Individuals With Disabilities.
Sep 02, 2008 ... In July, the U.S. Department of Labor's Office of Federal Contract Compliance Programs (OFCCP) launched two new initiatives designed to help veterans and individuals with disabilities: The Good Faith Initiative for Veterans Employment Ensuring the Accessibility of ...
China Releases New Machinery And Electronic Products Import Regulations.
Sep 02, 2008 ... Key Points: Definition of EMPs expanded and clarified Rules to be applied more specifically Effective May 1, 2008 China's Ministry of Commerce ("MOFCOM"), Customs and General Administration for Quality Supervision, Inspection and Quarantine ("AQSIQ") ...
Compendium Of China National Intellectual Property Strategy.
Sep 02, 2008 ... Key Points: Compendium establishes wide framework for enhancing IP protection, enforcement and public awareness Establishment of dedicated IP courts being considered On June 5, 2008 the State Council promulgated the Compendium of China National ...
Supreme People's Court Clarifies Several Issues Regarding The Application Of The PRC Company Law.(Case overview)
Sep 02, 2008 ... Key Points: Liquidation procedures and rights of creditors further elaborated Increased potential liability for shareholders', liquidation committee and effective controllers On May 19, 2008 the Provisions of the Supreme People's Court on Several ...
New Fund Operation Attracts US$8 Billion.
Sep 02, 2008 ... The Island's enhanced status as a jurisdiction of choice for the blue chip global funds industry is demonstrated by the rapid success of new Isle of Man based operations attracted by the growth potential in this highly competitive area of the international market. One of ...
Island's Lead Role In 'Pioneering' LSE Listing.(London Stock Exchange PLC)
Sep 02, 2008 ... Corporate services provider SMP Partners has played a lead role in the recent listing of the Isle of Man based Zhaikmunai Limited Partnership on the London Stock Exchange. The holding entity of an independent oil and gas enterprise operating in North-West Kazakhstan, ...
Homes And Communities Agency.(United Kingdom. Housing and Regeneration Act 2008)(Law overview)
Sep 02, 2008 ... On the day Parliament rose for its summer recess on 22 July 2008, the long awaited Housing and Regeneration Act 2008 (HRA) received Royal Assent. The HRA has been billed as the most significant change in the funding and regulation of housing associations for many years. The ...
Liechtenstein - Willingness To Cooperate In Tax Matters.(National Day 2008)
Sep 02, 2008 ... Announcement by Hereditary Prince Alois of Liechtenstein atthe National Day celebrations Liechtenstein's National Day also serves the purpose of reflection on the present and consideration of the future. Not unexpectedly, the tax affair in Germany and its consequences for the ...
FDA Confirms Its View On Generic Drug Label Carve-Outs.(Food and Drug Administration)(Drug Price Competition and Patent Term Restoration Act of 1984)
Sep 02, 2008 ... The Camptosar[R] decision clarifies questions surrounding whether and to what extent a generic drug applicant must match each of the pioneer drug's labeled uses or whether certain uses of the pioneer drug can be carved out by the generic applicant as a result of patent or statutory ...
California PUC Remains On The Fence Regarding Unbundled RECS.
Sep 02, 2008 ... Until the California Public Utilities Commission decides to address the issue of whether to allow the use of unbundled Renewable Energy Credits (RECs) for purposes of RPS compliance, the only market for unbundled RECs in California is the voluntary REC market. On August 21, ...