In a notable turn of events on 21 April 2023, the English High Court approved the restructuring plan proposed by Adler Group. The decision fell under new Part 26A of the UK’s Companies Act 2006 and raised several pivotal subjects such as the Court’s jurisdiction, cross-class cram downs, pari passu issues, and competing evaluations. The…
The United States House Judiciary Committee, under the chairmanship of Representative Jim Jordan (R-OH), recently conducted a hearing titled “Oversight of the Federal Trade Commission [(FTC)]”. The primary focus of this hearing was to scrutinize possible mismanagement at FTC and probe into its perceived disregard for ethics and Congressional oversight. Read more at JD Supra….
On August 2, 2023, a significant shift in labor regulation occurred as the National Labor Relations Board (NLRB) issued an anticipated ruling in the Stericycle, Inc. case. This new decision effectively reverses the Trump-era Boeing decision, altering how workplace rules balance with employees’ legal rights to engage in “protected concerted activity.” This refers to section…
In a tactical legislative attempt to address plastic pollution, the two major political parties within the United States have presented diverging viewpoints. The Environment Protection Agency’s (EPA) public request for commentary on its draft strategy to mitigate plastic pollution sparked diverse responses from a group of 14 Democratic Attorneys General (AGs) and another of 16…
In an ecosystem where creditors often find themselves at the tail end of priority during bankruptcy filings, a particular provision in the Bankruptcy Code can potentially offer a silver lining. Amid the gambit of general unsecured claims, Section 503(b)(9) of the Bankruptcy Code functions like an ace in the pack, potentially tilting the scales towards…
The second day of the NILG (National Industry Liaison Group) 2023 National Conference continued the event’s momentum with treats of in-depth discussions and keynote addresses. This year’s conference held true to its reputation as the beacon of information for legal professionals in large corporations and top-notch law firms. First on the schedule was an interactive…
Recent developments have seen the National Labor Relations Board (NLRB), an institution pivotal in regulating labor practices in the US, reignite the ‘Biggest Idiot’ standard. This resurfacing could have significant implications for employers and their respective handbooks. Section 7 of the National Labor Relations Act (NLRA) bestows on employees the robust right to unionize, participate…
On July 31, 2023, the Council on Environmental Quality (CEQ) proposed the Bipartisan Permitting Reform Implementation Rule, better known as Phase 2 of the Biden Administration’s revisions to the regulations that implement the National Environmental Policy Act (NEPA). This proposal carries significant implications with a potential transformation of existing structures and practices surrounding environmental policy….
In one of the recent judgments, the Supreme Court decided on the issue of affirmative action in two cases, namely the SFFA v. Harvard/UNC. This has raised many questions among private employers, who are keen to understand the implications of this decision on their Diversity, Equity, and Inclusion (DEI) programs. This article aims to provide…
In an unexpected turn of events, top-tier law firm Stewarts has suffered a significant 55% profit-per-equity-partner (PEP) drop, a notable contrast to the fortunes of the previous year. This unplanned occurrence goes against the upward profit trajectory that characterized the firm’s financial performance in 2022. Despite this downturn in PEP, the firm’s managing partner holds…
Wilko, a prominent British high street chain, has enlisted the legal services of Fieldfisher, a leading U.K firm recognized within the top 50 law firms in the nation. The move comes in the wake of Wilko filing a notice of its intention to appoint administrators, as reported by Law.com. In a statement released on Thursday,…
Stroock & Stroock & Lavan, following unsuccessful merger discussions with several law firms, announced on Thursday its intention to eliminate a significant hurdle on the path to a partnership deal. In a substantial move, the firm’s partnership has authorized a full pension buyout. This decision is aimed at managing the complexities that an accrued pension…
Just weeks after Judge Analisa Torres’s novel securities analysis in SEC v. Ripple Labs, a different judge in the Southern District of New York has drawn a distinction between Ripple’s approach and its policy outcomes. The judge’s argument is presented within the context of another highly-public, SEC enforcement action involving digital assets. For readers desiring…
In a significant regulatory development on July 27, 2023, U.S. federal prudential bank regulators – namely, the Federal Deposit Insurance Corporation, the Federal Reserve Board (FRB), and the Office of the Comptroller of the Currency – have proposed new capital requirements focused on the larger banking organizations. The proposal pertains to Risk-Based Capital, Capital Relief…
An Australian company was recently awarded nearly $8.5 million by a Colorado federal judge for a startup’s ‘flagrant’ theft of intellectual property. The conflict arose over the ownership of a patented air conditioning technology. Not only did the startup continue to market the product as its own throughout the litigation, but it also attempted to…
Recent developments at the National Labor Relations Board (“NLRB” or “Board”) could have significant implications for employers and how they establish and apply workplace policies. On August 2, 2023, the Board announced a decision that impacts nearly all workplaces, whether or not employees are represented by a union. The current Board, comprised mostly of members…
The legal industry is witnessing an uptake in the use of modern experience platforms in business operations. Experience Management (XM), as it is often referred, is increasingly being recognized for its potential benefits for law firms and their clients. Renowned Knowledge Management professional, Rachel Shields Williams, Director of Knowledge Management Enablement & Insights at Sidley…
In the face of ever-changing legal landscapes, effective consequence management systems prove to be more critical than ever for organizations globally. Such systems, when effectively implemented, determine the ability of corporations and law firms to navigate complex and demanding legal requirements. One notable development in this regard has been the recent announcement by the Department…
In the ever-shifting landscape of corporate law, the question of disclosure remains as pertinent as ever. Specifically, the quandary centers around this: Is it vital to document everything in corporate interactions or is discretion sometimes the better part of valor? The legal axiom demands full disclosure of all matter material and necessary in both prosecution…
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…
Law firms and corporations with a stake in the European financial sector should be aware of a new development announced on 20 July 2023. The Council of the European Union has reached a political agreement with the European Parliament on the proposed Directive amending two significant directives – the Alternative Investment Fund Managers Directive (2011/61/EU),…
With the rapid rise of social media platforms, it’s not surprising to see many sectors harness these platforms’ potential for their marketing strategies. One such platform making waves recently is TikTok. Interestingly, and somewhat surprisingly, law firms are not exempt from this trend. Published recently on JD Supra, an article titled “TikTok for Lawyers: The…
In a recent patent lawsuit involving technology giant Apple and its South Korean competitor Samsung, Western District of Texas Judge Alan Albright demonstrated a contrasting decision in the courtroom. Significant to the legal professionals and corporations worldwide, this occurrence casts useful insights into the current justice system’s decision-making process with respect to patent suits. Apple…
On July 12, 2023, the European Union initiated the Foreign Subsidies Regulation (FSR), a sweeping set of regulations that now apply to all non-EU and EU companies across every economic sector. This legislation effectively fills a void in regulatory oversight that had persisted since 1958. According to legal analysis by Sheppard Mullin Richter & Hampton…
In a bid to address relevant environmental issues, the Council on Environmental Quality (CEQ) proposed amendments to the National Environmental Policy Act (NEPA) regulations on July 28, 2023. These alterations concern the strategies federal agencies utilize when assessing the environmental impacts of federal projects of significant scale. JD Supra reports on this matter. The changes…