On July 26, the U.S. Department of Commerce, the Department of the Treasury, and the Department of Justice released an essential joint compliance notice, referred to as the “Compliance Notice.” This document updates and summarizes each agency’s stance on businesses’ voluntary self-disclosure of potential violations concerning sanctions, export controls, and other national security laws. According…
In recent years across the globe, the realm of immigration law has seen significant shifts and adjustments, a trend that continues well into 2023. Focused through the lens of the ongoing global pandemic, many changes are occurring in both mobility restrictions and ongoing closures. These are addressed in August 2023 Global Immigration Alert, provided by…
A federal judge in California has halted a Los Angeles tattoo ink dealer from selling ink bottles, amidst claims that the products bear too much resemblance to those of a New Jersey company. The dealer, who is the purveyor of the “Xtreme Ink” brand, has been criticized by the court for not mounting a stronger…
In a recent indictment charging former President Donald Trump with conspiracy and obstruction, there are five unnamed attorney co-conspirators who have been listed. Either they are already cooperating with the government or they will face indictment, as per predictions made by former prosecutors to Law360. The stance of these prosecutors revolves around their belief that…
The U.S. Department of Homeland Security (DHS) announced the update of the STEM Designated Degree Program List on July 12, 2023, with the addition of eight new qualifying fields of study. This update affects the regulations surrounding F-1 nonimmigrant students and the completion of their degrees. The STEM Designated Degree Program List is crucial for…
In the ever-evolving landscape of corporate law, an insightful new Australian High Court decision has demonstrated a potent change, potentially escalating the penalties for corporate wrongdoing. Incrementally pushing the boundaries of maximum penalties, this ruling utilises a refreshed perspective on the ‘benefit’ factor, a common tool in determining financial penalties. The verdict came in a…
On June 26, 2023, the International Sustainability Standards Board (“ISSB”) unveiled its first two sustainability disclosure standards, termed the “ISSB Standards”. The two standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information (“IFRS S1”) and IFRS S2 Climate-related Disclosures (“IFRS S2”), aim to establish a global framework for corporate sustainability disclosures. Playing a…
The Eleventh Circuit Court of Appeals recently joined the likes of the Second, Third, Fifth, Sixth, Seventh, Ninth, Tenth, and D.C. circuits with their latest en banc decision. Earlier this year, the bench presided over the case of Corporacion AIC, SA v. Hidroelectrica Santa Rita S.A.. At issue was whether the grounds for vacatur under…
Recently, attention has shifted to the Florida public procurement space, specifically with regard to SB 264 (Chapter No. 2023-33, Laws of Florida), a law enacted to restrict foreign investment in the Sunshine State. The law, which went into effect on July 1, 2023, introduces new constraints on select individuals and entities related to countries like…
Global offshore law firm Harneys has entered definitive agreements to sell its fiduciary business, according to a recent announcement. This transaction has received support from prominent global private equity firm Hillhouse. Financial details related to this sale remain undisclosed. As is often the case with such divestment, this strategic move is intended to fuel further…
With the rise of the legal cannabis industry, businesses seeking to out-perform their competition are investing time and money into perfecting their grow processes or creating unique cannabis extracts. These competitive advantages are investments that businesses need to protect. At the heart of this protection lie the trade secrets that give these companies an edge…
In a recent ruling that has sent ripples across the UK’s litigation funding industry, the UK Supreme Court declared that a large number of litigation funding agreements are in fact damages-based agreements (DBAs), and hence, are subject to comply with the relevant regulations. This ruling has caused concern among funders as they scramble to reassess…
In April 2023, a notable development in the Norwegian market affecting Bermuda-based companies was highlighted in a bulletin by the legal service provider Conyers, which noted the country’s unique performance compared to global markets. Despite an overall volatile economic scenario, the Norwegian exchanges, notably Oslo Børs, demonstrated resilience. During the course of 2022, Oslo Børs…
On Thursday, Singaporean authorities carried out the execution of 39-year-old former delivery driver, Mohamed Shalleh Bin Abdul Latiff, for the trafficking of 54.04 grams of diamorphine, a controlled substance. This amount exceeds by four times the threshold required to impose the mandatory death penalty as stated under Singapore’s Misuse of Drugs Act. This marks the…
Harneys, a globally acknowledged offshore law firm, has entered into concrete agreements to dispose of its fiduciary business in an operation supported by Hillhouse, a worldwide private equity firm. The sale, the precise details of which remain confidential, is anticipated to endow Harneys with the capital necessary to stimulate the law firm’s strategic growth. The…
In the ever-evolving landscape of corporate law, legal professionals across the globe have been keeping a keen eye on the progression of the Edinburgh reforms. Announced in December 2022, the reforms have proceeded at a significant pace, particularly in the period before the summer break. The increasing velocity of the reforms’ progress warrants an up-to-date…
Thousands of indigenous individuals from Jujuy, a northwestern Argentine province, arrived in Buenos Aires recently. Their long cross-country journey culminated in a large protest against a provincial constitutional reform that expands lithium mining on the lands they call home. The protest was staged due to concerns that the increased extraction of lithium may lead to…
The case of FS.COM INC. v. International Trade Commission, with Corning Optical Communications LLC intervening, continues to reshape our understanding of patent validity in the context of import regulations. In case proceedings dated April 20, 2023, the overarching discourse returns to two vital aspects of patent law: enablement and claim construction. A full explanation of…
In a noteworthy decision, the Third Circuit Court of Appeals has reiterated its prior judgment allowing creditors of Venezuela who have obtained arbitration awards to lay claim on the U.S. assets of Petroleos De Venezuela, S.A. (PDVSA), Venezuela’s national oil company. This conclusion, accessible in detail via the following link, Third Circuit Affirms Judgment Allowing…
In a remarkable decision by a split vote of 3 to 2, the Securities and Exchange Commission (SEC) approved substantial changes to Rule 2a-7, in addition to other rules pertaining to money market funds under the Investment Company Act of 1940 on July 12, 2023. The SEC development centered on several elements, chief among them…
In a significant display of public will, Swiss citizens have voted in favor of a new climate law aimed at achieving carbon neutrality by 2050. The legislation, known as the Federal Act on Climate Protection Targets, Innovation and Strengthening Energy Security or the Climate and Innovation Act, was passed on June 18, 2023. The Climate…
The Cayman Islands recently exhibited its agile approach towards corporate restructuring, intending to further protect creditor and debtor rights while contributing to efficient cross-border restructuring operations. In an update to the Companies Act on August 31, 2022, the Cayman Islands introduced a regime which allows corporations to choose the appointment of a restructuring officer. The…
In recent years, the corporate rescue scheme known as examinership has been effectively utilised in Ireland, displaying impressive adaptability to the requirements of modern complex cross-border corporate restructurings. This approach was introduced in 1990 and has consistently evolved to efficiently handle the dynamics of the corporate business landscape. The examinership scheme has achieved increased significance,…
In recent news, the Organisation for Economic Cooperation and Development (OECD) publicized a fresh addition to its Series on Harmonization of Regulatory Oversight in Biotechnology, titled Safety Assessment of Transgenic Organisms in the Environment, Volume 10: OECD Consensus Document on Environmental Considerations for the Release of Transgenic Plants, on July 27, 2023. According to JD…
In an undisclosed deal, e-discovery and legal services provider Consilio is acquiring two prominent UK companies, Lawyers On Demand (LOD) and SYKE, a legal tech consultancy. This acquisition is not only expected to boost Consilio’s presence in the United Kingdom but is also set to expand the company’s ELS, Enterprise Legal Services operations, across Europe,…