More than 20 Asian companies, notably with a significant base in Hong Kong and mainland China, have applied to launch initial public offerings (IPOs) in New York since June. However, a surprising trend has emerged as smaller, boutique law firms, as opposed to Big Law players, such as Kirkland & Ellis and Davis Polk, have…
In a policy paper released on 14 September 2023, the HM Revenue & Customs (“HMRC”) has announced a planned removal of the 1.5% stamp duty and stamp duty reserve tax (“SDRT”) linked to the issuance of UK shares into depositary receipt systems and clearance services. The policy paper, accompanied by explanatory notes and draft legislation,…
Companies operating across borders may often deem themselves separate entities, but the complex world of international law often thinks otherwise, notably when exploring the concept of the “alter ego” theory. Legal professionals should be aware of recent developments to ensure their corporations and law firms stay protected. A striking example of this occurred in the…
In a recent article published by Stikeman Elliott LLP, concerning virtual currency regulation, it is revealed that Canada does not currently have a comprehensive framework governing the regulation of digital assets. This fact puts Canada somewhat behind many other jurisdictions in their dealings with the burgeoning world of digital assets. The legal spotlight on digital…
December 14 of this year will mark the five-year anniversary of the Rules on the Efficient Conduct of Proceedings in International Arbitration, more colloquially referred to as the Prague Rules. These, hailed as transformative by many in the legal world, came to be in the grandeur of the 17th Century Renaissance Martinic Palace in Prague….
Pakistani authorities resumed issuing identity cards labeled as ‘X’ for transgender individuals this Monday, following a four-month pause instigated by a controversial ruling from the Pakistani Federal Shariat Court. The card issuance was reinstated upon instruction received by the National Database and Registration Authority (NADRA). According to Rida Qazi, Public Engagement Director at NADRA, the…
After a long wait, there appears to be a clear path forward for the implementation of the Vessel Incidental Discharge Act (“VIDA”), which was signed into law in December 2018. The VIDA is expected to replace the Environmental Protection Agency’s (“EPA”) 2013 Vessel General Permit, which was put in place nearly a decade ago, with…
In a significant update for the world of antitrust law, Jonathan Kanter, Assistant Attorney General for the Antitrust Division at the U.S. Department of Justice (DOJ), has recently provided insights into the DOJ’s current enforcement strategy during his speech at the annual Fordham Competition Law Institute’s International Antitrust Law and Policy Conference. In his remarks,…
Trademark protection continues to pose challenges to numerous businesses across the globe. Especially if we turn our gaze towards Colombia, the increasing number of inquiries from clients, who wish to secure their trademarks, speaks volumes about the subject’s complexity. The International Lawyers Network has recently compiled a series of answers to some of these frequently…
Legal professionals should consider recent changes impacting the field of maritime arbitration in the United States. Although these modifications do not solely regard maritime cases, they serve as a significant reminder that U.S. maritime arbitration is a subset of a widespread, mature body of law that corresponds broadly to international and commercial arbitration. Blank Rome…
In a recent development, The Minnesota Mining and Manufacturing Company, commonly known as 3M, was reported to have paid the Office of Foreign Assets Control (OFAC) $9.6 million as part of a settlement deal over alleged violations of the Iranian Transactions and Sanctions Regulations. This news follows hot on the heels of the conglomerate’s settlement…
In the fast-paced corporate world, disputes are inevitable. However, dealing with these disputes through international arbitration can often be a lengthy process – a trait that has led many companies to seek out speedier methods of resolution, such as expedited arbitration. This alternative, incorporated in many arbitration rules, could serve as a powerful tool. Yet,…
In light of the recent Mallory v. Norfolk Southern Railway Co. case, an intriguing question has arisen: Can foreign corporate defendants be classified as “found within the district” for the purposes of Rule B through the act of registering to do business in New York and appointing an agent for service of process? This legal…
Our second weekly roundup for September 2023 presents a series of recent notable rulings in the realm of food and consumer packaged goods. Legal professionals working within this sector should take note of each ruling, making sure to update their strategies and stay ahead of legal changes in their respective fields. This concise report hopes…
Recent enforcement action in China’s pharmaceutical industry has led to the initiation of a widespread anti-corruption push. On May 8, 2023, the National Health Commission of the People’s Republic of China (PRC) – in conjunction with 13 other government departments – issued the “Key Highlights for Combating Corruption in the Medicine Purchase and Sale Industry…
As globalization increasingly embeds itself into the endeavors of corporations and law firms alike, international expansion is at the forefront of many strategic decisions. However, this process often paves the way for a host of legal complexities and practical hurdles, each demanding careful navigation. In an effort to shed light on such challenges, a panel…
Following a months-long blockade that escalated into violent attacks by Azerbaijani forces, the government of the predominantly ethnically Armenian region of Nagorno-Karabakh announced it would disband, effective immediately. “The Republic of Nagorno-Karabakh ceases to exist,” stated the separatist republic, which is referred to as Artsakh in Armenian, via its official information channel on Telegram. The…
Recent reports from Tehran reveal that the Iranian Parliament has passed a resolution that challenges the independence of the prominent Iranian Bar Association. If ratified by the Guardian Council of the Constitution, the decree will see a striking shift in administration; the Ministry of Economy and Finance will henceforth oversee lawyer’s associations, controlling everything from…
UN Women Executive Director Sima Bahous urged the UN Security Council (UNSC) to intervene in the escalating women’s rights crisis in Afghanistan. In a compelling speech to the council, Bahous highlighted the severe deterioration of women’s rights in the country under Taliban rule. Bahous proposed three recommendations for the UNSC consideration: organizing a meeting devoted…
A recent report published by Law.com International indicates that law firms ENS, DLA Piper Africa, and Bowmans maintain their standing as the biggest legal entities on the African continent for the third consecutive year. The analysis, conducted alongside Africa Legal, enumerates the top 50 largest firms in Africa. Read more about it here. International firms…
In 2023, the international arbitration landscape seems to have undergone a significant shift influenced primarily by macroeconomic elements. Chief among these factors is the influx of inflationary stresses combined with unstable prices, an upshot due in part to the government-imposed sanctions following Russia’s invasion of Ukraine. The knock-on effect of these dynamics has levied substantial…
In a noteworthy legal personnel movement, Proskauer Rose LLP, a leading international law firm, has reportedly added a dynamic corporate law team to their Paris office. The team, which was previously associated with Shearman & Sterling LLP, includes four distinguished partners, and is spearheaded by the former leader of Shearman’s Paris base. Through the strategic…
The U.S. Equal Employment Opportunity Commission (EEOC) has filed a lawsuit against Florida Care ALF of Amelia Island, Inc., a Florida-based assisted living facility. The federal agency alleges that the company has violated federal law by firing an employee due to her pregnancy. The lawsuit marks yet another incident tarnishing the reputation of employers with…
On September 15, 2023, the National Institutes of Health (NIH) initiated a controversial new policy requiring foreign subrecipients of NIH funding to provide, at a minimum annually, copies of lab notebooks, data and other documentation supporting the research outcomes outlined in progress reports to the prime award recipient. The policy’s main objective is promoting greater…
In the midst of a turbulent economic setting, international purchasers are finding opportunities in German M&A (Mergers and Acquisitions), bolstered by the energy transition targeting key sectors. These primarily include the industrials & chemicals and automotive industries. Current market forces that have been impacting Europe, including incessant inflation, a restrictive finance climate, geopolitical conflict, and…