Mondaq Business Briefing back issues from May 2009:
Federal Consultation On Lease Financing.
May 01, 2009 ... Copyright 2009, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on Financial Services, April 2009 On April 26, 2009, the Minister of Finance released a consultation paper entitled Supporting Stable Financing – Consultations on Leasing ...
A Step Closer To Uniform Privacy Laws?
May 01, 2009 ... Key Point If the NSWLRC's proposals translate into recommendations and are accepted by the NSW Government, then we may be one step closer to uniform privacy laws in Australia. Late last year the Commonwealth Office of the Privacy Commissioner released its submission ...
Failing Firms In The Global Credit Crisis: Is The ACCC's Attitude Any Different?
May 01, 2009 ... Key Points The ACCC has recently allowed a merger between two close competitors on the basis that it was satisfied that the target manufacturer would otherwise be shut down immediately if the merger did not take place. In cases such as this, the ACCC will want clear ...
Juice And Coke Do Not Mix: Chinese Ministry Blocks Coca-Cola's Chinese Juice Acquisition.
May 01, 2009 ... Key Points The Chinese Ministry of Commerce has recently disallowed, on competition grounds, the proposed acquisition of China's leaving fruit juice company by Coca-Cola. This decision illustrates the importance of competition law principles in China following the ...
Guernsey Company Law Explained.
May 01, 2009 ... Competition between international financial centres is strong and increasing. The foundation for a competitive jurisdiction is up-to-date legislation that helps the finance sector to do business flexibly and bears scrutiny. A new book provides a guide to Guernsey's comprehensively revised ...
Sweeping Pension System Reforms Adopted in Illinois; Bans on Pension System Placement Agents and Lobbyists in New York.
May 01, 2009; ... Originally published April 28, 2009 Keywords: Pension system reform, Illinois Public Act 096-0006, New York Common Retirement Fund, placement agents, placement fees, investment boards, pension funds April 2009 saw the adoption of sweeping pension system reforms in ...
Opposing The Proposed Changes To The Australian Consumer Law.
May 01, 2009; ... Key Point There is a real risk that the outcome will be an unworkable and ambiguous Act. Clayton Utz partner and Adjunct Professor of Law, Jocelyn Kellam is opposing aspects of the Australian Governments Consumer Law Review contained in the discussion paper "An ...
Power And The Passion: Garrett Releases National Waste Policy Paper.
May 01, 2009; ... Key Points The Government's proposals have significant potential to impact upon manufacturing particularly of electrical products and hazardous waste. Submissions close on 13 May 2009. On 7 April 2009, Federal Environment Minister Peter Garrett released a ...
Selling Online Games Without Classification: Will Enforcement Agencies Continue To Turn A Blind Eye?
May 01, 2009; ... Key Point There are some simple things distributors, retailers and advertisers can do to protect themselves. Game distributors, retailers and advertisers may be at risk of prosecution and heavy fines for selling popular online games such as World of Warcraft, ...
Regulatory Reform In The Insurance Sector- Solvency II.
May 01, 2009; ... European Parliament adopts Solvency II Framework Directive After several months of intensive negotiations between the Parliament, the Council and the Commission, the European Parliament adopted the text of the Solvency II Framework Directive in a plenary vote on Wednesday, 22 ...
Ordinary Residence - A Challenge To IR20.
May 01, 2009; ... Residence, ordinary residence and domicile are three key aspects which need to be considered whenever anyone arrives in or leaves the UK (along with their position under any relevant double tax treaty). These concepts are still not defined by statute, but have been principally developed by ...
Carbon Capture Readiness And DECC's Proposals On Coal-Fired Power Generation.
May 01, 2009; ... On 23rd April 2009, the Secretary of State for the Department of Energy and Climate Change ("DECC") presented DECC's strategy on coal and carbon capture and storage ("CCS") to the House of Commons. This coincided with the publication of the Government's response to its 2008 consultation on ...
Swine Influenza: Steps Your Organization Should Take To Promote Employee Health And Safety.
May 01, 2009 ... The World Health Organization (WHO) has raised its pandemic alert level after increased human-to-human transmission of the swine flu virus. Employers have duties under occupational health and safety (OHS) legislation to protect and promote workplace health and safety. Since ...
Alter Domus Opens An Office In Guernsey.
May 01, 2009 ... Alter Domus, a leading Luxembourg-headquartered provider of outsourced administration services, has announced the opening of an office in Guernsey. A presence on the Island will offer clients and new contacts increased freedom of choice and flexibility to implement the structure ...
Guernsey Banking Sector Shows Strength.
May 01, 2009 ... Developments over recent weeks show the continued strength of Guernsey's banking sector, according to Peter Niven, Chief Executive of Guernsey Finance. In November last year Guernsey introduced a Depositor Compensation Scheme (DCS) covering all retail depositors up to ...
New Audit Regulations.
May 01, 2009 ... Auditors and statutory audits are now subject to new regulations. One change affects all businesses whose annual or consolidated accounts are subject to a statutory audit. It requires the appointment of statutory auditors to be made by the supreme body (ie shareholders in ...
Carey Olsen Completes European Capital Scheme Of Arrangement.(American Capital Ltd's acquisition of European Capital Company Ltd.)(Brief article)
May 01, 2009 ... Carey Olsen in Guernsey and Linklaters in London have successfully completed a scheme of arrangement in respect of European Capital Limited ('ECAS'). ECAS is a Guernsey incorporated authorised closed-ended investment company and the scheme of arrangement was completed under the ...
Pakistan Oil And Gas Sector - Petroleum Exploration And Production Policy 2009.
May 01, 2009 ... The Government of Pakistan (GOP) has published a Petroleum Exploration and Production Policy for 2009 (the Policy) in order to promote investment in E&P activity in Pakistan. GOP is seeking to attract direct foreign investment in the upstream sector on a level playing field with domestic ...
2009 Updates To Delaware General Corporation Law - Part 2: Elimination Of "Empty Voting".
May 01, 2009 ... By an amendment effective August 1, 2009 to section 213(a) of its General Corporation Law, Delaware has provided a way for corporate boards to avoid a problem sometimes referred to as "empty voting." The purpose of the change is to better align shareholders' voting rights with their actual ...
Antitrust Enforcement In The Obama Administration.
May 01, 2009 ... While a candidate, President Obama committed that if elected, he would instruct his administration "to reinvigorate antitrust enforcement." To lead this "reinvigoration" effort, he has chosen new enforcement officials—Christine Varney to be Assistant Attorney General ("AAG") at the ...
Life Sciences Opportunities For NIH Recovery Act Funding.
May 01, 2009 ... The passage of the American Recovery and Reinvestment Act of 2009 provides enormous opportunities for biomedical research and the life sciences industry. The National Institutes of Health (NIH) received $10.4 billion in the Recovery Act, the majority of which will be used to either fund ...
Liability For Intoxicated Patrons.
May 01, 2009; ... The Full Court of the Tasmanian Supreme Court has recently considered the duty of care owed by owners and licensees of licensed premises to patrons who become intoxicated. In a judgment in January 2009, the Court revisited the principles established by the New South Wales Court ...
Employer's Liability For Hired Equipment.(Case overview)
May 01, 2009; ... A recent Victorian Supreme Court decision regarding s138 recovery proceedings commenced by the Victorian WorkCover Authority (VWA) has highlighted the paramount importance of the employers' duty of care for its workers irrespective of incidents caused by the use of defective hire equipment ...
Major Changes Made To Canada's Competition And Foreign Investment Laws.
May 01, 2009; ... On March 12, 2009, major changes to Canada's Competition Act and Investment Canada Act came into effect upon passage of the most recent federal budget. Using the budget implementing legislation introduced in February, Canada's ruling Conservative Party amended the Competition Act to create ...
CRTC Expands Exemptions To Do Not Call List.
May 01, 2009 ... Copyright 2009, Blake, Cassels & Graydon LLP Originally published in Blakes Bulletin on Communications, April 2009 On April 20, 2009, the Canadian Radio-Television and Telecommunications Commission (CRTC), the federal agency charged with regulating telecommunications ...
Patent Protection and Financial Institutions - Are Opportunities Passing By?
May 01, 2009 ... Article by Alexandra Daoud , Malcolm McLeod and Mitchell S. Wolfe, Visa A look at industry shows that Canadian financial institutions are not fully committed to the protection of their innovations and technology through the filing of patent applications. While the powers ...
National Consumer Credit Reform.
May 01, 2009; ... Article by Ashley Pelman and Matthew Vicars On 27 April 2009 the Federal Government released the exposure draft National Consumer Credit Protection Bill 2009 ("NCCP Bill") and the National Consumer Credit Protection (Transitional and Consequential Provisions) Bill 2009 ...
The James Hardie Case - Lessons For Directors And General Counsel.
May 01, 2009 ... Last week Justice Gzell of the NSW Supreme Court found that James Hardie directors and executives had breached their obligations to the company by allowing misleading statements to be issued to the market. While the James Hardie case was decided on its specific facts, it ...
Supreme Court Upholds FCC Policy That Single Expletive May Be Indecent.(Federal Communications Commission)
May 01, 2009; ... By Jason Kessler The Supreme Court ruled on Tuesday in support of the Federal Communications Commission's authority to enforce its new policy regarding indecent speech in broadcasting, overturning the United States Court of Appeals for the Second Circuit. Under the FCC's new ...
National Consumer Credit Reform Package Released For Public Comment.
May 01, 2009 ... On 27 April 2009, the Commonwealth Government released the National Consumer Credit Reform Package for public comment. National Consumer Credit Reform Package The new reform package includes the National Consumer Credit Protection Bill 2009 and the National Consumer Credit ...
Civil False Claims Act: The Senate Passes S. 386 Amending Major Liability Provisions In The FCA; House Judiciary Passes More Sweeping FCA Revisions In H.R. 1788.
May 01, 2009 ... On Tuesday, the Senate passed S. 386, the Fraud Enforcement and Recovery Act of 2009 ("FERA"), to address concerns about the potential for fraud by mortgage handling companies, financial institutions, and other recipients of TARP and economic stimulus funds. Most importantly, S. 386 also ...
Copyright Board Expunges Vest Pharma's Registered Work.
May 02, 2009 ... Section 50 of the Copyright Act, 1957 {Rectification of Register by Copyright Board} vests the Copyright Society with the power to Rectify the Register by ordering the inclusion of any entry wrongly omitted in the register and correction of any errors or defects in the register. The ...
Recent Regulatory Changes In The Electricity Distribution Sector.
May 03, 2009 ... The Electricity Market Law1 was recently amended by Law No. 5784 (the "Amending Law")2. The Amending Law ushers in major changes with significant implications for different electricity market activities, including electricity distribution. The first key amendment introduced by ...
Stay Of Bankruptcy Under Turkish Execution And Bankruptcy Law.
May 03, 2009 ... Pursuant to Article 179 of the Turkish Execution and Bankruptcy Code (the "TEBC"), an insolvent debtor is entitled to apply to the commercial court and suggest a proposal for restructuring its debts and strengthening its financial status. This is referred to as "stay of bankruptcy" under ...
EU Regulation of Credit Rating Agencies approved.
May 04, 2009 ... Originally published 24 April 2009 Keywords: European Regulation on Credit Rating Agencies, asset-backed securities, behavioural standards, External Credit Assessment Institution, Capital Requirements Directive, CESR, structured finance, credit institutions, disclosure, ...
Directors And Executives - Must Use Independent Judgement.
May 04, 2009 ... On 23 April 2009, Gzell J handed down his decision in civil penalty proceedings brought by ASIC against a number of directors and executive officers of James Hardie Industries Limited ("James Hardie"). The case, which has been described by ASIC as a "landmark decision" in corporate ...
Federal Court Of Appeal Decision Clarifies Effects Of Partial Waiver Of Privilege.(Case overview)
May 04, 2009 ... On January 30, 2009, the Federal Court of Appeal (FCA) clarified the circumstances under which a partial waiver of privileged material can result in an implied complete waiver of privilege. The FCA's decision in Merck & Co. Inc. et al. v. Apotex Inc. et al. (2009 FCA 27) was an ...
Ontario Court Refuses Jurisdiction Over Non-Resident Trademark Licensor.
May 04, 2009 ... In October 2008, the Ontario Superior Court of Justice confirmed that a foreign entity that merely licenses its Canadian trademarks in Ontario is not sufficiently connected to Ontario for an Ontario court to assume jurisdiction over the licensor. The case of Charron v. Bel Air ...
Quebec Court Of Appeal Denies Injunction Against Former Directors Accused Of Misappropriating Process For Aluminum Reuse.
May 04, 2009 ... The Quebec Court of Appeal's decision in Gotar Technologies Inc. v. Arseneault emphasizes that a non-compete clause and assignment of intellectual property to an employer cannot be interpreted so broadly that a person is prevented from earning a living in a similar field once the ...
Banks Facing Prospect Of Substantial Losses As Derivatives Counterparties Seek To Terminate Deals In Light Of Global Downturn.
May 04, 2009 ... This article was originally published 28 April, 2009 Recent radical swings in commodity and currency values have prompted holders of certain derivative and option contracts to seek to avoid their obligations, leaving their counterparty banks to suffer the corresponding financial ...
Treasury's Financial Regulatory Reform Initiative And Related Proposals.
May 04, 2009 ... This article was originally published 24 April, 2009 On March 26, 2009 the U.S. Department of the Treasury ("Treasury") outlined its framework for financial regulatory reform in a release (the "Treasury release") and through Secretary of Treasury Geithner's testimony before the ...
Focus On Employment, Labour And Pensions - April 2009.
May 05, 2009 ... In this issue we discuss (i) Go West: BC Welcomes Skilled Trades and Professionals; (ii) Supreme Court of Canada Confirms that Vague or Unreasonable Restrictive Covenants Should be Struck Down; (iii) Canadian Employers, Foreign Workers and the Current Economic Crisis; and (iv) Terminations ...
Choice Of Turkish Laws.
May 05, 2009 ... Decisions of the Turkish Court of Appeals have discussed whether the choice of Turkish law in an agreement including an arbitration clause to apply to disputes arising out of the agreement should be construed to refer only to the substantive law, or whether it should also cover Turkish ...
Tip of the Month: Best Practices in Preparing for a Meet and Confer.
May 05, 2009 ... Article by Anthony J. Diana , Robert E. Entwisle and Jason B. Fliegel Originally published April 28, 2008 Keywords: electronic discovery, ediscovery, Rule 26(f), electronically stored information, ESI, keyword search, discovery, search and retrieval ...
The Value Of A Fresh Look.
May 05, 2009 ... Most companies that experience a loss at trial ask the lawyers who represented them at trial to also handle the appeal. There are several good reasons for this. Trial counsel will be intimately familiar with the pre-trial and trial record. They will have thought about (and likely ...
Black Economic Empowerment - A Windy Road Ahead?
May 05, 2009 ... Due to the current trying economic times, companies will be required to perform a balancing act to ensure that their businesses survive the harsh economic realities facing them, while achieving their BEE targets set out in our empowerment laws. BEE has found a dogmatic base in South ...
Preparing Your Workplace For A Potential Swine Flu Pandemic-A Checklist For Employers.
May 05, 2009 ... Originally published April 29, 2009 As a result of the continued spread of the human swine flu across the United States, the U.S. Department of Health and Human Services declared a nationwide public health emergency on April 26, 2009. This does not mean that there is a pandemic ....
President Obama Announces Proposed Nominees To Fill Two Vacancies On The National Labor Relations Board.
May 05, 2009 ... On April 24, 2009, President Obama announced his intention to nominate Craig Becker and Mark Gaston Pearce to fill two of the three vacant positions on National Labor Relations Board. The NLRB is comprised of five members appointed by the President who are subject to approval by ...
Short Sales In Canada: Current Regulations And Recent Changes.
May 05, 2009 ... The recent volatility in equity markets led to a variety of responses by regulators. A particularly popular response internationally was the introduction of limits to short sales of securities, a tool used in an attempt to ease the downward pressure on the value of certain companies. In ...
The City Of Toronto Proposes A New "Green Roof" By-Law.
May 05, 2009 ... The City of Toronto is proposing to enact a bylaw requiring "green roofs". This By-law, and green roofs more generally, have both been the subject of considerable discussion. Concerns have been expressed by developers that the costs associated with the requirements are prohibitive and that ...
FTC Postpones Enforcement Of Red Flags Rule Until August 1, 2009.
May 05, 2009 ... The Federal Trade Commission (FTC) today announced that it will delay enforcement of the Red Flags Rule until August 1, 2009 "to give creditors and financial institutions more time to develop and implement written identity theft prevention programs." Implementation for the Red Flags Rule ...
Effective Estate Management For Fire Authorities.
May 05, 2009 ... This article was first published in Fire Magazine Effective management of an authority's estate is critical to service delivery. Most authorities will have a mixed portfolio of buildings, land and premises to manage and this could potentially involve owned, leased, ...
No Soft Target.
May 05, 2009 ... This article was first published in Accountancy Age Given the amount of news coverage on accountancy firms being taken to court for negligence, you would be forgiven for assuming that successfully suing advisers was a common occurrence. In reality, firms are in a stronger ...
First Corporate Killing Prosecution Under New Law.
May 05, 2009 ... For the first time in the UK, a company has been charged under the Corporate Manslaughter and Corporate Homicide Act 2007. The company, Cotswold Geotechnical Holdings, is accused of the criminal offence of corporate manslaughter following the death of one of its employees, who was killed ...
Prescribing A Revolution: Legislative Proposal For Information To Patients.
May 05, 2009 ... The European Commission has tabled a legislative proposal that, for the first time, would allow industry to provide information on prescription drugs to patients in Europe. The controversial proposal is currently under review by the European Parliament. The proposal merits comments to ...
Conflicting Legal Regimes Governing Construction Project Management In China.
May 05, 2009 ... With China's continuing economic development, an increasing number of foreign companies wish to participate in the Chinese construction market, and a considerable number of foreign companies are in fact engaged in construction and design activities in China. Consequently, some foreign ...
Insurance Coverage For Swine Flu Claims.
May 05, 2009 ... As the world braces for a Swine Flu pandemic, the first concern of every business is the safety of their workers – and customers, if they're in the hospitality industry or another business that draws people into physical proximity to one another. Step One is to access and ...
Viable Choices For The Restructuring Of U.S. And Non-U.S. Maritime Companies.
May 05, 2009 ... A Primer on Chapter 11 and Chapter 15 Chapter 11 and Chapter 15 of the United States Bankruptcy Code (the "Code") should be viewed as debtor friendly and helpful in facilitating restructurings. Chapter 11 is a flexible way for a U.S. or foreign entity to reorganize its business, ...
Alcopops Appeal Denied In The Federal Court.
May 05, 2009 ... We have previously reported on the Federal Court case in which Suntory had instituted proceedings to stop the Commonwealth (in the ATO) stop collecting excise duty on Alcopops at high rates based on the Tariff Proposals of May 2008. Our most recent report referred to the fact ...
State Department Publishes New Exchange Visitor Skills List.
May 05, 2009 ... On April 30, the Department of State published a new Exchange Visitor Skills List in the Federal Register. The new Skills List will be effective on June 28, 2009. Foreign nationals who obtain J-1 (Exchange Visitor) status on or after that date may be impacted. The Exchange ...
EEOC Charges Soar As Economy Sours: What Can Employers Do?
May 05, 2009 ... It is certainly no secret that, during turbulent economic times, the number of discrimination claims tends to swell. Not only are more people out of work, but they are also financially motivated to explore their legal options. Well, the Equal Employment Opportunity Commission's ...
SEC Proxy Access Proposals Expected In May.
May 05, 2009 ... Proposed New Rules Will Likely Effectuate New Delaware Law Permitting Proxy Access Bylaws While Expanding Federal Regulation of the Proxy Process On April 10, the Governor of Delaware signed into law a new provision of the Delaware General Corporation Law allowing stockholders ...
A Focus On Director's Indemnity Rights - The Bennett Decision.
May 05, 2009 ... The recent decision of the Ontario Court of Appeal in Bennett v. Bennett Environmental Inc. in certain respects will be a comfort to directors of public issuers, and in other respects highlights issues that should cause directors to not take indemnification for granted. In a period of ...
Creditor That Used Debtor As Mere Instrumentality Qualifies As Non-Statutory Insider In Preference Litigation.
May 05, 2009 ... Transactions between companies and the individuals or entities that control them, are affiliated with them, or wield considerable influence over their decisions are examined closely due to a heightened risk of overreaching caused by the closeness of the relationship. The degree of scrutiny ...
Swine Flu: Is Your Workplace Prepared?
May 05, 2009 ... As of this writing, the Centers for Disease Control and Prevention has confirmed 109 cases of the H1N1 virus, commonly known as swine flu, in the United States. The World Health Organization has confirmed 331 cases of swine flu worldwide and has raised the pandemic threat level to Phase 5 ...