The recent enactment of the EU Foreign Subsidies Regulation (FSR), granting investigative powers to the European Commission on foreign subsidies with the potential to distort competition in the EU internal market, continues to have a profound effect on multinational corporations and legal practitioners around the globe. This impact is keenly felt in the transactional process,…
On June 27, 2023, a significant legislative shift occurred in the realm of employment law with the effectiveness of the Pregnant Workers Fairness Act (PWFA), impacting businesses employing fifteen or more individuals. The PWFA adds a fresh layer of protection for pregnant workers that are distinctly different from, and complimentary to, the benefits offered to…
The recent emergence of IFRS S1 and S2 Sustainability Disclosure Standards by the International Sustainability Standards Board (ISSB) has caused a significant shift in global sustainability discourse. ISSB, which was established by the IFRS Foundation (IFRS), launched what could be considered a worldwide baseline of disclosure standards to foster consistent and understandable notifications on risks…
A Federal Circuit panel focusing on allegations against 96-year-old Judge Pauline Newman has proposed a potentially significant outcome. They’ve recommended the suspension of Judge Newman from her duties for a period of one year. This decision comes as a direct result of the judge’s perceived lack of cooperation with the investigations into her mental fitness…
The issue of counterfeit goods is typically associated with high-end luxury fashion labels like Prada, Louis Vuitton, Gucci, Hermes, and the like. Public perception often holds that these counterfeit products are peddled in shady alleyways or on suspicious websites, easy to spot and avoid for the discerning consumer. However, as a recent analysis by Rivkin…
Recently, the Federal Trade Commission (FTC) and Department of Justice (DOJ) presented drafts of their proposed new Merger Guidelines. The main purpose of these revisions is to reflect and respond to the realities of the modern economy. These proposed guidelines will offer a new set of overarching principles for the FTC and DOJ to implement…
In a significant ruling on July 28, 2023, the Michigan Supreme Court diminished the commonplace application of the ‘open and obvious doctrine’ in premises liability claim cases. Two prominent cases sparked this modification in the interpretation and application of premises liability law in Michigan. These cases, Kandil-Elsayed v. F & E Oil, Inc., and Pinski…
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…