Non-disclosure agreements (NDAs) are often the initiatory legal documents signed by parties intending to undertake a transaction. Generally, they are viewed as straightforward documents, finalised at an early stage, allowing for focus on the more significant legal and commercial matters. Simple as they might seem, NDAs carry significant implications and therefore, a deeper understanding is…
In an unprecedented move, The California Department of Financial Protection and Innovation (DFPI) has put the final touches on regulations that ban unfair, deceptive, and abusive acts and practices (UDAAP) within the scope of commercial financing or other financial products or services targeted towards small businesses and other organization. As a result of these regulations,…
In recent years, California has been taking measures to ensure transparency and fairness in their lending industry, specifically in relation to small businesses, nonprofits and family farms. Governor Newsom signed AB 1864 into law three years ago, giving the Department of Financial Protection & Innovation (DFPI) the authority to define what counts as unfair, deceptive,…
In a significant development on August 18, 2023, the International Trade Administration (“ITA”) of the U.S. Department of Commerce issued a final “country-wide” circumvention determination surrounding the imposition of anti-dumping and countervailing import duties on certain solar cells and modules originating from Vietnam, Cambodia, Malaysia, and Thailand. This ruling escalates the conversation on circumvention, a…
For commercial litigator Brian Kahn, the road to the courtroom was paved not solely with law books and court documents, but also with the humorous tunes of renowned parody artist Alfred “Weird Al” Yankovic. Kahn, before embarking on his legal career, envisioned himself following in the footsteps of the famous songsmith, whose wide-spanning career has…
In a significant ruling, the Second Circuit, on August 24, 2023, warded off potential upheaval in the commercial lending market. The court pronounced its judgement in Kirschner v. JP Morgan Chase Bank, N.A. (JPM), et al. casting syndicated secured term loan notes as not securities for state-law purposes. The ruling adhered to the Supreme Court’s…
As we delve into the second quarter of 2023, the commercial insurance landscape continues to morph, with the outlook for commercial lines remaining largely stable since the first quarter. This stability is largely driven by the consistent supply of capital, which continues to drive pricing behavior across all segments. This information offers valuable insights for…
In recent developments in England’s legal world, there have been substantial cases that highlighted the express duty of “good faith” within the legal infrastructure of the country, especially in the context of commercial real estate. Katten Muchin Rosenman LLP details these events in-depth in one of their advisories. The expectation of “good faith” in legal…
The legal landscape continues to evolve, with constant updates in the realm of financial regulations. Among the most recent developments, the Office of Financial Research has published a brief entitled, “Work-from-Home and the Future Consolidation of the U.S. Commercial Real Estate Office Sector: The Decline of Regional Malls May Provide Insight.” The briefing points towards…
In a landscape where government regulations increasingly intersect with tech, federal contractors need to stay up-to-date on the current rules and revisions. One development of particular importance is the No TikTok on Government Devices Act, which has led to a recent rule banning the TikTok app from government devices. This rule extends to all government…
In an important regulatory development, the California Department of Financial Regulation and Innovation (CA DFPI) recently announced a ruling expanding the definition of Unfair, Deceptive and Abusive Acts and Practices (UDAAP) in its application to commercial financing. With this new rule, it has become unlawful for any covered provider to engage or have engaged in…
The Alcohol and Tobacco Tax and Trade Bureau (TTB) has recently published Procedure Number 2023-1 shedding light on the transfer of beer without tax payment between breweries under separate ownership. The guidance came into effect on July 13, 2023 and was provided by McDermott Will & Emery. As stated by the TTB, this directive is…
The legal landscape in July 2023 had been bristling with intriguing cases shuffling through courtrooms. One cannot help but notice the trend of high-profile lawsuits filed over the course of the month, illuminating significant junctures and notable developments in the legal field. One case that stands out is the ‘O’Keefe v. Multicoin Cap. Mgmt. LLC’…
Leading law firm Thompson Hine, in a move to bolster its litigation team, has welcomed Ryan Blackney as a litigation partner in its Chicago office, as reported by Bloomberg Law. This strategic addition underscores the firm’s commitment to offer its clients the best legal talent in the industry. Blackney comes with extensive experience in complex…
The legal ramifications of advertising claims are subtle yet significant, a fact recently underscored by a case examined by the National Advertising Division (NAD). Google came under scrutiny for its two commercial ads for the YouTube TV service, which concluded with the tagline, “More than cable. For $600 less than cable”. At the bottom of…
In a collaborative effort between the U.S. Department of Justice (DOJ) and the Federal Trade Commission (FTC), a permanent injunction and civil penalty have been issued due to violations of the Controlling the Assault of Non-Solicited Pornography And Marketing (CAN-SPAM) Act, the CAN-SPAM Rule, and the FTC Act. The implicated party is a company offering…
In the recent case of Atlas Brookview Mezzanine LLC v. DB Brookview LLC, dealt by the New York Supreme Court of Trial Courts, New York County in November 2021, the assumption that an accommodation pledge linked to a mortgage loan effectively impedes a borrower’s right of redemption has come under prompt examination. This claim has…
On August 23, 2023, almost a year after the Build America Buy America Act (BABA) was signed into law, the federal Office of Management and Budget (OMB) released its “Final Guidance for Grants and Agreements”. This guidance document intends to implement BABA’s domestic content preference requirements. As legal professionals, it’s essential for us to thoroughly…
The Department of Financial Protection and Innovation (DFPI) has recently completed the final regulation for implementing and interpreting certain sections of the California Consumer Financial Protection Law (CCFPL) related to commercial financial products and services. As revealed by Orrick, Herrington & Sutcliffe LLP, the regulatory approval came after considering public comments and putting forth three…
In a recent ruling, the Delhi High Court has clarified third-party funders are not liable to pay adverse awards in arbitration claims, establishing a significant precedent for India’s arbitration landscape. The case in focus was Tomorrow Sales Agency Ltd v SBS Holdings Inc. This judgment could serve as a turning point, hinting at a broader…
International law firm Bird & Bird continues its expansion endeavours in Australia with its latest partner hire in Sydney. This marks the third lateral partner hire in the country within the span of just one month. More details here. The new addition to the team is Chris Clarke, a former member of Australian firm Watson…
In a move that attests to the growing significance of the Middle East as a pivotal business region, international law firms Baker McKenzie and Baker Botts have continued their measured expansion in these markets. The precise details of the expansion move have not been disclosed due to paywall restrictions. However, it is evident that these…
As observed over the years, the statistical trends in commercial arbitration practice, a primary method for settling private disputes, have consistently reflected significant geopolitical occurrences. The latest stats brought forth by the London Court of International Arbitration (LCIA) in its 2022 annual report uphold this phenomenon. Despite it seemingly being “business as usual” for the…
Canada’s national office vacancy rate is at its highest level in almost three decades. Interestingly, law firms are retaining their spaces at a rate that outpaces banks and professional services companies, revealed Colin Currie, Vice President at commercial real estate company CBRE. According to Currie, these law firms are exercising what he describes as a…
Instacart, America’s largest online grocery delivery platform, recently revealed its plans to go public. The move came amidst a rapid deceleration in the growth of its primary business, pushing the company to look for novel avenues to generate revenue. According to the data supplied in its filing with the US Securities and Exchange Commission, there…