As waves of layoffs continue to take over Biglaw firms this summer, the legal community is being driven to question the reasons behind such prevalent attrition. Only a handful of months ago, Kate Reder Sheikh of Major, Lindsey & Africa mentioned that some firms were grappling with overcapacity among their personnel which essentially alluded to…
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,…
As outlined in a thought-provoking piece on Above the Law, the realm of in-house legal titles proves to be quite elusive. For those new to the legal practice, there appear to be primarily two kinds of roles in law firms — associates and partners/shareholders. As one gains experience, variations such as senior associate or equity…
In an increasingly dynamic and divided political climate, boards of directors and the corporations they govern are grappling with a spectrum of pressures from diverse stakeholders to chime in on specific political, cultural, and societal issues. Navigating these pressures can be a complex undertaking, but recent judgement by the Delaware Chancery Court provides some essential…
The Department of Health and Human Services (HHS), Office of Inspector General (OIG), announced on June 27, 2023, an amendment to the civil money penalty (CMP) regulations under the Information Blocking Rule. This significant development, lodged on the OIG’s official website, incorporates new CMP authority and elevates the maximum penalties associated with specific CMP violations….
Offshore bankruptcy and restructuring have always stood as complex, nuanced areas of law, necessitating an in-depth understanding of numerous jurisdictions and principles. Recent offshore cases underline the rising role of creditors’ views and interests, often in contrast with those of shareholders and the management of distressed companies. These cases address critical considerations such as winding…
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 a recent turn of events, the National Labor Relations Board (NLRB) has once again amended its criterion for assessing employer handbook policies and rules under the National Labor Relations Act (NLRA). This modification overturns the previous NLRB’s 2017 Boeing Co. resolution. The NLRB’s new ruling was evident in the case of Stericycle Inc., indicating…
Legal professionals and corporate stakeholders have turned their attention to California as a series of significant legal updates have recently come into effect. Of particular interest is the change in enforcement start date for the California Consumer Privacy Act (CCPA), along with two new ordinances for Los Angeles businesses. For those unaware, The CCPA imposed…
The U.S. Securities and Exchange Commission (SEC) has implemented a significant new policy regarding cybersecurity disclosure requirements, according to a recent report. As of July 26, 2023, all public companies that fall under the reporting obligations and handle data collection or processing are subject to the rule. This rule, named the Cybersecurity Risk Management, Strategy,…
In a significant move by the US Senate, an amendment has been approved to the National Defense Authorization Act, introducing mandatory notifications for specific outbound investments directed towards certain countries, amongst them the People’s Republic of China. This development follows a defined scope articulated by the Congress to reimagine the procedures. The implications of this…
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,…
In a recent ruling by the U.S. Court of Appeals for the Federal Circuit, it has been determined that a claim to a treatment method for pulmonary hypertension cannot be invalidated for lacking enablement or written description. The case at hand is United Therapeutics Corporation v. Liquidia Technologies, Inc. The court declared that the claims,…
In a noteworthy move, the US Departments of Justice (DOJ), Commerce, and the Treasury have taken a collective stride towards promoting accountability and compliance within corporations. The three esteemed departments have combined efforts to publish a Tri-Seal Compliance Note on Voluntary Self-Disclosure of Potential Violations on July 26, 2023. This Compliance Note encompasses voluntary self-disclosure…
Compliance with the Mental Health Parity and Addiction Equity Act (MHPAEA) remains a pivotal focus for several US Federal Agencies. This comes to light following the annual report recently presented to the U.S. Congress by the U.S. Department of Labor (DOL), the U.S. Department of Health and Human Services (HHS), and the U.S. Department of…
In delivering progressive adjustments to its municipal code, Chicago has recently fortified its sexual harassment laws with the passage of Ordinance 2022-665, significantly amplifying protections for employees working within the city. Interestingly, earlier guidance suggested that this crucial update would only apply to employers aligning with the definition outlined in the Criminal Record or Criminal…
Employers around the globe have a new set of Frequently Asked Questions (FAQs) to guide them on how the No Surprises Act relates to the maximum-out-of-pocket (MOOP) limit for annual cost-sharing under the Affordable Care Act (ACA) and facility fee transparency. The FAQs released on July 7, 2023, are authored by the Departments of Labor,…
In the realm of information technology, algorithms, bots, and the creation of data through Artificial Intelligence (AI) have become instrumental. The legal industry is one such sector actively engaging these tech advancements and strategising to understand how best to use them. A webinar by the Association of Certified E-Discovery further accentuated the subject, involving a…
The latest update on wealth management for August 2023 has been published by esteemed law firm Proskauer Rose LLP, marking significant alterations in the Section 7520 rate prevalent for estate planning techniques. According to the report, accessible here, the updated rate now stands at 5%, marking an upturn from the July 2023 rate of 4.6%….
As reported by JD Supra, the Department of Homeland Security (DHS) announced on August 1, 2023, the addition of three entities to the Uyghur Forced Labor Prevention Act (UFLPA) Entity List. This register is a consolidated listing comprising four separate lists required under the UFLPA’s section 2(d)(2)(B). The entities added to this list will face…
Drawing from the corporate-friendly tax scheme, the budding position as a venture capital investment hub, and a flourishing legal marijuana business, Denver is proving increasingly appealing to large law firms. In 2022 alone, there was an 8% rise in attorney headcount at NLJ 500 firms in the Metro Denver area, culminating in 2,310 lawyers. Furthermore,…
As artificial intelligence continues to infiltrate various sectors, the legal profession isn’t left behind. Emerging technologies like AI not only promise convenient solutions but also pose unique legal and ethical concerns. With law firms accelerating digital transformation, AI-informed marketing strategies are increasingly common, redefining how businesses build their brands and engage with prospect clients. On…
In a recent development in financial regulations, the Board of Governors of the Federal Reserve System has published a working paper titled “Can Measurement Error Explain Slow Productivity Growth in Construction?”. The key essence of the paper is to address and potentially rectify the perceived slow productivity in the construction sector. With a primary focus…
The evolution and complexity of the relationship between the United States and China, and the web of relations among China, the US, and US allies or partners, have always been managed, to some degree, through the use of export controls. Recent developments demonstrate that such controls remain instrumental in addressing various aspects of this relationship….
In a recent advancement, the Occupational Safety and Health Administration (OSHA) has decided to restore and broaden an Obama-era requirement, compelling employers spanning dozens of identified industries to electronically submit their injury and illness forms. The reinstated rule, with additional expansions, targets workplaces with a minimum of 100 employees. JD Supra reported this update which…