The Petroleum and Commercial Fuel industries are currently witnessing a heightened activity in terms of transactions. This flurry of business activity is largely due to family-owned entities deciding to cash out, while institutional buyers are turning their focus on driving shareholder value forward. These transactions, however, are not without their fair share of challenges. Diverse…
A highly informative webinar titled ‘Loading and Unloading Under GL and Auto Policies: 2023’ is on the horizon. The event is scheduled for September 12th, from 12:00 pm to 1:00 pm EST. The webinar will be led by Goldberg Segalla’s Ashlyn M. Capote and Adam R. Durst. As top legal professionals, they will be offering…
The proposed $28 billion purchase of Horizon Therapeutics by biopharmaceutical company, Amgen, has been given the all clear to proceed following a settlement with the Federal Trade Commission (FTC). The deal, brought into question by the FTC due to potential competition issues, has been resolved under certain conditions to maintain competition in regards to two…
In a major development in the financial and legal industry, the Federal Reserve Board recently rolled out two Supervision and Regulation Letters that offer significant guidance on their supervision of newly emergent activities, particularly regarding fintech partnerships, crypto-related activities, and the use of distributed ledger or blockchain technology. The analysis of what may constitute “novel…
In a recent development affecting small businesses, the California Department of Financial Protection and Innovation (DFPI) has finalized a rule aimed at preventing unfair, deceptive, or abusive acts or practices (UDAAP). This rule interprets certain sections of the California Consumer Financial Protection Law (CCFPL), particularly those that relate to commercial financial products and services. The…
In the latest Mobility@McDermott update, a significant ruling on a bank’s right of retention following withdrawal from loan and purchase agreements were highlighted. These agreements were linked to the sale of a vehicle, providing a context that could garner interest from legal professionals within automotive companies. Germany’s highest civil court, Bundesgerichtshof (BGH), was responsible for…
Historically, internal law departments within large corporations have been viewed as cost centers rather than revenue generators. However, with the ongoing economic volatility and increasing pressures on corporate balance sheets, strategies are being formulated to alter that perception in a significant way. Commercial recovery is a trend that several law departments across the global corporate…
The U.S. State Department’s Directorate of Defense Trade Controls (DDTC) has documented its third consent agreement of 2023, as of August 28. Found in an administrative settlement with Island Pyrochemical Industries Corporation (IPI), the document highlights three alleged infractions of both the Arms Export Control Act (AECA) and the International Traffic in Arms Regulations (ITAR)….
A recent court decision has confirmed an arbitration award against a non-signatory intervening party, marking another significant development in arbitration law. This case involved payroll services provider Paychex Inc. and the company Dan-Gulf Shipping Inc., which had entered into an agreement that included an arbitration clause governed by the American Arbitration Association’s (AAA) rules. In…
The Bermuda Monetary Authority (BMA) has opened up further consultations on improving its insurance regulatory regime, as detailed in an update made public on July 28, 2023. Information disseminated by law firm Skadden, Arps, Slate, Meagher & Flom LLP, outlines the key points of this updated proposal. Discussion encompasses the BMA’s plan to strengthen its…
In a recent update requiring diligent attention from both legal practitioners and businesses alike, the Financial Conduct Authority (FCA) made public the Primary Market Bulletin 45 on 10th August 2023. This bulletin discloses FCA’s methodology in formulating policy concerning the new International Sustainability Standards Board (ISSB) standards. Additionally, the circular provides a gradual introduction of…
The Bureau of Ocean Energy Management (BOEM) conducted its first-ever auction for wind energy lease areas in the Gulf of Mexico on August 29, 2023. Marking a measured start for a promising region, the three lease zones encompassed a combined 301,746 acres off the coast of Lake Charles, Louisiana, and Galveston, Texas, according to JD…
Recent developments in trademark law in China have brought good news for international corporations and law firms. One of China’s largest regulatory bodies, the China National Intellectual Property Administration (CNIPA), has announced important amendments to Chinese Trademark Law. Of particular note is a significant shift in review, accepting, and filing procedures, which will notably impact…
On a notable day in court, the convictions of a former 21st Century Fox television executive and an Argentine sports marketing company were vacated by a Brooklyn federal judge in the FIFA corruption investigation. Interestingly, the decision is rooted in recent U.S. Supreme Court precedent which places foreign commercial bribery outside the scope of federal…
Renowned law firm Reynolds Porter Chamberlain (RPC) has strengthened its Hong Kong team with the addition of a new partner, Ivan Chang. Chang, formally a partner at Addleshaw Goddard’s Hong Kong office, which is currently defunct, brings with him a wealth of experience in dispute resolution. More about the new incorporation can be found here….
In a decisive ruling on August 24, 2023, the Second Circuit Court of Appeals has firmly established that syndicated term loans do not count as securities in the much-anticipated case of Kirschner v. JP Morgan Chase Bank N.A., et al.. The Court’s verdict upheld the decision of the district court, confirming the market’s longstanding interpretation…
In the latest episode of the ILN-telligence Podcast, partner at MGRA & Associados, Tiago Dias José, discusses legal trends in Portugal, particularly in real estate and sustainability, and the favorable business environment in the country. Full episode available here. Dias José, based in Lisbon, Portugal, works primarily in the realm of public law. His contributions…
It has been previously reported this year that the Canadian Patent Office is set to scale up its official fees by as much as 36%, with changes taking effect from January 1, 2024. This impending increase has naturally led to patentees and applicants exploring cost-saving measures, with one open option being paying for impending Patent…
The attorney-client privilege, a cornerstone of legal practice, is revered for its role in fostering open and honest communication between attorneys and clients and its ability to protect confidential information from being disclosed. This longstanding privilege, established to ensure attorneys can deliver accurate and competent legal advice, is of particular significance in the corporate world….
In recent environmental policy developments, California continues to push forward with its ambitious Advanced Clean Fleet rules. A major milestone is fast approaching, signalling the state’s tenacious commitment to encouraging the manufacture and wide adoption of zero-emission, heavy-duty trucks. This landmark deal with truck manufacturers, spearheaded by California, represents a significant stride in environmental regulation…
In a significant judgement on August 25, 2023, the U.S. Court of Appeals for the Fifth Circuit nullified the U.S. Nuclear Regulatory Commission’s (NRC) license issued to Interim Storage Partners, LLC (ISP) for its temporary spent nuclear fuel storage facility in Texas. Familiarly referred to as a Consolidated Interim Storage Facility (CISF), the court found…
The California Department of Financial Protection and Innovation (DFPI) has recently adopted final regulations, thereby becoming the nation’s pioneer regulator with the authority to monitor “abusive” acts and practices within commercial financing. This definitive step marks an important development in the trajectory of the California Consumer Financial Protection Law’s regulations overseeing commercial financing. This decisive…
Lawyers looking to widen their career perspectives often consider International arbitration due to the dynamic and exciting opportunities it presents. Using information from LawCareers.Net Profile, this article will provide further insight into this enticing legal field. At its core, International arbitration is an alternative approach to dispute resolution. In contrast to traditional court proceedings, parties…
In the most recent weekly update for government contractors and commercial businesses, noteworthy insights have surfaced revolving around new interim guidance released by Small Business Administration (SBA). The guidance, aimed at 8(a) Program Participants, is a direct response to a lower court ruling on a significant case. The case in question is Ultima Servs. Corp….
In a historic move on August 30, 2023, the U.S. Department of Health and Human Services (HHS) recommended that cannabis be rescheduled to Schedule III. As this has potentially major implications for legal professionals in corporate sectors and law firms, it warrants further examination. A brief Q&A can help to provide clarity on what has…