International – Page 466 – Legal News Feed

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ISSB Unveils Global Sustainability Disclosure Standards: Canada’s CSSB and CSA Collaborate for Implementation

Pieter Gunst3 years ago03 mins

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…

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Eleventh Circuit Expands Vacatur Grounds to Nondomestic Arbitration Awards

Pieter Gunst3 years ago03 mins

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…

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Florida’s SB 264 Law: Expanded Scrutiny on Foreign Investment and Implications for International Corporations

Pieter Gunst3 years ago03 mins

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…

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Harneys Divests Fiduciary Business with Hillhouse Support: Impact on Offshore Legal Landscape

Pieter Gunst3 years ago02 mins

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…

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Cannabis Industry Growth Highlights Importance of Trade Secret Protection

Pieter Gunst3 years ago03 mins

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…

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UK Supreme Court Ruling Disrupts Litigation Funding Industry: Reassessing Damages-Based Agreements

Pieter Gunst3 years ago02 mins

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…

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Norway’s Resilient Stock Exchange: Analyzing Oslo Børs Amid Global Economic Volatility

Pieter Gunst3 years ago02 mins

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…

Singapore Executes Second Drug Trafficker in a Week Amid International Criticism

Pieter Gunst3 years ago3 years ago04 mins

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…

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Harneys Divests Fiduciary Business with Hillhouse Support for Strategic Growth

Pieter Gunst3 years ago04 mins

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…

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Edinburgh Reforms Progress Accelerates: Impact and Implications for Global Corporate Law

Pieter Gunst3 years ago03 mins

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…

Indigenous Argentines Protest Lithium Mining Expansion Amid Environmental and Rights Concerns

Pieter Gunst3 years ago3 years ago03 mins

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…

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Impact of FS.COM Inc. v. International Trade Commission Case on Patent Law and Import Regulations

Pieter Gunst3 years ago03 mins

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…

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Third Circuit Court Allows Creditors to Claim Venezuelan Oil Company’s U.S. Assets

Pieter Gunst3 years ago03 mins

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…

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SEC Adopts Rule 2a-7 Reforms, Signaling Shift in Money Market Fund Regulation

Pieter Gunst3 years ago02 mins

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…

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Swiss Citizens Vote in Favor of Carbon Neutrality by 2050 with Climate and Innovation Act

Pieter Gunst3 years ago03 mins

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…

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Cayman Islands’ Restructuring Officer Regime: A New Era of Corporate Recovery and Debtor Protection

Pieter Gunst3 years ago03 mins

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…

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Ireland’s Examinership Model: Proving Resilience in Cross-Border Corporate Restructuring

Pieter Gunst3 years ago02 mins

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,…

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OECD Advances Environmental Risk Assessment of Transgenic Plants with New Consensus Document

Pieter Gunst3 years ago03 mins

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…

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Consilio Enhances Global ELS Reach with Acquisition of UK’s Lawyers On Demand and SYKE

Pieter Gunst3 years ago02 mins

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,…

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Navigating the EU-US Impasse: Environmental Concerns and Global Trade in Steel and Aluminum Industries

Pieter Gunst3 years ago03 mins

As many legal professionals closely monitor ongoing international trade disputes, one pressing issue continues to dominate legal and political headlines. The European Union (EU) and the United States (US) remain at odds on policy approaches regarding the steel and aluminum industry due to disagreements anchored in Environmental, Social, and Governance (ESG) concerns, more particularly the…

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Securities Class Action Proceeds as NY Judge Denies Olo Inc. Dismissal Motion

Pieter Gunst3 years ago02 mins

On July 25, 2023, an important decision took place in the United States District Court for the Southern District of New York. Judge Jed S. Rakoff dismissed a motion to dismiss a putative securities class action, involving an online food ordering and delivery platform, known merely as “the Company”. The allegation stems from violations of…

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Australia’s Housing Crisis: Tackling the Growing Gap Between Supply and Demand

Pieter Gunst3 years ago03 mins

In recent years, Australia’s housing crisis has grown to more than just a national concern. The issue, which appears to have been seeding over several generations, showcases severe symptoms that are both painfully obvious and difficult to address. The imbalance between supply and demand is widening, with supply-side problems accentuating the disparity. The international law…

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Congressional Republicans Heighten Scrutiny on Foreign Gifts and Contracts in US Higher Education Sector under Section 117

Pieter Gunst3 years ago03 mins

In an ongoing development within the U.S. legal and political scene, Congressional Republicans are presenting a notably more concentrated emphasis on the procedures of gift and contract disclosures from international donors, specifically under the auspices of Section 117 of the Higher Education Act of 1965, 20 U.S.C. §1011f (hereafter referred to as “Section 117”). As…

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Flora Ventures Raises $50 Million: Implications for Food Industry Regulation and Legal Challenges

Pieter Gunst3 years ago03 mins

In this week’s Food Venture Financing News, Flora Ventures, an Israel-based VC firm, established by an erstwhile executive of Mondelēz, announced that it has raised a significant $50 million in funds. This is a strategic move aiming to lend support to budding startups that are making waves in the domains of food security, sustainable agriculture,…

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FFIEC Announces Updates to Bank Secrecy Act and Anti-Money Laundering Manual

Pieter Gunst3 years ago03 mins

Good day to our esteemed readers. In today’s financial regulatory rundown, the Federal Financial Institutions Examination Council (FFIEC), working on behalf of its members, recently announced updates to six critical sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual. Let’s take a closer look. The noteworthy policy adjustments and emerging regulatory trends reflect the FFIEC’s…