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Member Publications
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Remedying the remedies
Shepherd and Wedderburn, December 2010, England
Remedying the remedies Born from the free movement provisions of the EU, and reflecting UK Government efficiency objectives, the procurement rules are aimed at ensuring equal treatment and opportunity when public authorities contract for works, goods and services by requiring, in broad terms, a publicised tender process...
| Nutter Bank Report, August 2010
Nutter McClennen & Fish, LLP, August 2010, Massachusetts
Headlines 1. Mortgage Foreclosure Aid Bill Approved in Massachusetts 2. New Truth in Lending Rule Restricts Originator Compensation Practices 3. FDIC Proposes Guidance on Overdraft Payment Programs 4. Federal Banking Agencies Issue Guidance on Managing Reverse Mortgage Risks 5. Other Developments: SBLI and 18-65 Law 1...
| Alterations to the Arbitrazh Procedural Code of the Russian Federation
ALRUD Law Firm, August 2010, Russia
Dear Sirs, On August 2, 2010 the Federal Law “On the alterations to the Arbitrazh Procedural Code of the Russian Federation” (“The Law”) was published...
| Client Alert: Tax Implications of the Education Jobs & Medicaid Assistance Act
Morris, Manning & Martin, LLP, August 2010, Georgia
If you are a U.S. business with international operations, here are four questions you should consider: Does your company have more than two foreign subsidiaries, at least one of which is profitable? Do you have a profitable foreign subsidiary that guarantees any U.S. debt? Are you considering the purchase of a company located outside the U.S.? Does your U.S...
| Intensification of liability for violation of industrial safety requirements
ALRUD Law Firm, August 2010, Russia
Dear Sirs, We would like to inform you that Federal law “On amendments to Code of administrative offences of the Russian Federation and the Federal law «On industrial safety of dangerous production facilities» dated July 23, 2010 N 171-FZ will come into force on January 1, 2011 (hereinafter – the Law)...
| New Regulations for Consumer Financial Services
Ulmer & Berne LLP, August 2010, Ohio
2010 Financial Reform Legislation New Regulations Could Dramatically Change the Landscape of the Consumer Financial Services Industry The Dodd-Frank Wall Street Reform and Consumer Protection Act (Act) was signed into law July 21, 2010. By most accounts, the Act represents the biggest shift in the regulation of consumer financial services in our lifetimes...
| Highlights of Indonesia's 2010 "Negative List"
Makarim & Taira S., August 2010, Indonesia
On 25 May 2010, the Government issued a new List of Business Activities which are Closed and Business Activities which are Open for Investment with certain Requirements (the Negative List), which became effective as of the same date.The new Negative List revokes and replaces the Negative List of 2007, and also introduces some new concepts...
| New Share Buy-Back Rules for Issuers and Public Companies
Makarim & Taira S., August 2010, Indonesia
The Head of the Capital Markets and Financial Institutions Supervisory Agency (“Bapepam-LK”) recently issued a new decision, No. KEP-105/BL/2010, with the new Rule No. XI.B.2 attached. This decision sets out the rules governing share buy-backs in issuers and public companies to align them with the share buy-back requirements under Law No. 40 of 2007 regarding Limited Liability Companies (the “Company Law”)...
| Domestic Market Obligations for Coal
Makarim & Taira S., August 2010, Indonesia
Under Law No. 4 of 2009 on Mineral and Coal Mining in conjunction with Government Regulation No. 23 of 2010 on Mineral and Coal Mining Business Activities, for the national interest, the Government can control the production and export of coal. In this regard, the Minister of Energy and Mineral Resources (“MEMR”) has authority to determine the annual production of coal in each province. In connection with this authority, the MEMR issued Regulation No...
| Indonesia and Hong Kong Sign Double Tax Treaty
Makarim & Taira S., August 2010, Indonesia
On 23 March 2010, Indonesia and Hong Kong signed a new agreement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income (“Tax Treaty”). To date, the Tax Treaty has not yet been ratified by either country. It is expected that the Tax Treaty will come into force in early 2011 following its ratification...
| Australia joins Hague Service Convention
Minter Ellison, August 2010, Australia
Australia’s accession to the Hague Convention on Service Abroad of Judicial and Extrajudicial Documents in Civil and Commercial Matters 1965 (Convention) will streamline administrative procedures involved in transnational litigation. This welcome step will reduce many risks associated with transnational litigation, giving confidence to Australians engaged in international transactions...
| Patent Law Update
Ulmer & Berne LLP, August 2010, Ohio
U.S. Supreme Court Holds Machine-or-Transformation Test is not Sole Test for Patentability of Processes; Business Methods are not Per Se Unpatentable On June 28, 2010, the Supreme Court of the United States issued a fractured opinion in a patent case that interpreted the gateway provision of the Patent Act (35 U.S.C...
| 2010 Financial Reform Legislation: Implications for Corporate Governance
Ulmer & Berne LLP, July 2010, Ohio
Far-Reaching Implications for Corporate Governance In connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Act), signed into law by the President on July 21, 2010, Congress took the opportunity to address a number of far-reaching corporate governance reforms, many of which apply to not only companies in the financial services industry, but all public companies...
| Nutter Bank Report, July 2010
Nutter McClennen & Fish, LLP, July 2010, Massachusetts
Headlines 1. Congress Advances Bill to Provide Capital to Banks for Small Business Lending 2. New Federal Rules Require Registration of Originators Employed by Banks 3. Division of Banks Clarifies When Electronic Mortgage Disclosures Are Permitted 4. FDIC to Conduct Special Examinations Under MOU with Federal Agencies 5. Other Developments: Investment Advisers and Regulatory Reform Information 1...
| Nutter Bank Report, Special Edition: Dodd-Frank Wall Street Reform and Consumer Protection Act Signed into Law
Nutter McClennen & Fish, LLP, July 2010, Massachusetts
The President signed the Dodd-Frank Wall Street Reform and Consumer Protection Act into law on July 21, 2010. The Act is not only one of the most sweeping laws affecting the banking and financial services industries ever to be approved by Congress, but it is also one of the most restrictive. In general, the Act provides virtually no new authority to banks or financial services companies...
| 2010 Financial Reform Legislation: Executive Compensation Provisions
Ulmer & Berne LLP, July 2010, Ohio
Executive Compensation Provisions May Require Companies to Significantly Modify Current Practices Some of the most heavily publicized provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Act), which was signed into law July 21, 2010, are those relating to the disclosure and determination of executive compensation...
| Latin Lawyer The Business Law Resource Source For Latin America
World Services Group, July 2010, Chile
July 28, 2010 - Article submitted by Carey Y CiaTitle: LATIN LAWYER THE BUSINESS LAW RESOURCE FOR LATIN AMERICA INTRODUCTION: Subject 2010 – Country LatinLawyer Reference LATIN LAWYER THE BUSINESS LAW RESOURCE FOR LATIN AMERICA Reference Environment 2010 – Introduction Rafael
| Latin Lawyer Reference -Environment 2010
Carey y Cia., July 2010, Chile
Subject 2010 – Country LatinLawyer Reference LATIN LAWYER THE BUSINESS LAW RESOURCE FOR LATIN AMERICA Reference Environment 2010 – Introduction Rafael Vergara and Paulina Sandoval Carey & Cía As most Latin American countries have begun or begin to celebrate their 200 years of independence, it is time not only to look back but also to look ahead...
| 2010 Financial Reform Legislation: The Impact on Broker-Dealers
Ulmer & Berne LLP, July 2010, Ohio
Act Could Impose Investment Advisor Fiduciary Standard on Broker-Dealers and Put an End to Mandatory Customer Arbitration On July 21, 2010, President Obama signed into law the controversial and much anticipated Dodd-Frank Wall Street Reform and Consumer Protection Act (Act)...
| IP Bulletin
Nutter McClennen & Fish, LLP, July 2010, Massachusetts
USPTO Proposes Three Processing Tracks for Patent Applications The United States Patent and Trademark Office (“USPTO”) recently proposed a “Three-Track” patent application processing system to provide a choice of examination timelines and to reduce application pendency times generally. The proposed three tracks are: (I) Prioritized Examination; (II) Traditional Examination; and (III) Delayed Examination...
| New Law Numbered 3851/ 2010 (FEK A’85/2010)
Concerning The Acceleration Of The Development Of Renewable Energy Sources
A BRIEF SUMMARY
Sarantitis Law Firm, July 2010, Greece
A summary of the new provisions implemented by the law no. 3851/2010- amending the provisions of former legislation no. 3468/2006- regarding the development of the procedures for the renewable energy sources in Greece...
| UK Bribery Act 2010 - the international dimension
Shepherd and Wedderburn, July 2010, England
UK Bribery Act 2010 – the international dimensionThe Bribery Act 2010, which is due to come into force later this year, has international business and activities firmly in its sights. Practitioners who are used to the wide geographical scope of US legislation such as the Foreign Corrupt Practices Act may be surprised by the extent to which, under the Act, the UK courts will seize jurisdiction over offences committed abroad...
| The Government of the Russian Federation increased the asset value of credit organizations for the purposes of antimonopoly control
ALRUD Law Firm, July 2010, Russia
Dear Sirs, On June 1, 2010 the Government of the Russian Federation adopted amendments to the Decree of the Government of the Russian Federation on Establishing Value of Assets of Credit Organizations for the Purposes of Antimonopoly Control No.335 dated May 30, 2007 (hereinafter “Decree on Establishing Value of Assets of Credit Organizations”)...
| Indonesia’s Geothermal Business Legal Framework
Makarim & Taira S., July 2010, Indonesia
The Legal FrameworkIn terms of legal framework, Indonesia’s current private sector development of the geothermal energy business is divided into three separate legal regimes. The first regime started in 1981 under Presidential Decree No. 22 of 1981 amended by Presidential Decree No. 45 of 1991 (“PD 22/1981”) which still continues to apply as it is grandfathered by the later enacted Law No. 27 of 2003 on Geothermal Energy (“Law 27/2003”)...
| The Commission Investment Agreement in Foreign Investment Enterprises
Dacheng Law Offices, July 2010, Mainland China
I. The effect of the commission investment agreement The commission agreement means that the agreement between the actual investor and the trustee about that the trustee instead of the investor becomes the share holder and has the right and obligation of the shareholder...
| Ohio Supreme Court Holds That Employer’s Maternity Leave Policy Is Not Discriminatory
Ulmer & Berne LLP, July 2010, Ohio
On June 22, 2010, the Ohio Supreme Court announced its decision in McFee v. Nursing Care Management of America, Inc., Slip Opinion No. 2010-Ohio-2744, holding that “an employment policy that imposes a uniform minimum-length-of-service requirement for leave eligibility with no exception for maternity leave is not direct evidence of sex discrimination under R.C. Chapter 4112...
| Supreme Court of the United States Limits Scope of “Honest Services” Doctrine in Three Rulings
Ulmer & Berne LLP, July 2010, Ohio
On June 24, 2010, the Supreme Court of the United States issued its rulings in the cases of Skilling v. United States, Black, et al. v. United States, and Weyhrauch v. United States...
| Nutter Bank Report, June 2010
Nutter McClennen & Fish, LLP, June 2010, Massachusetts
Headlines 1. Conference Committee Approves Regulatory Reform Bill 2. Final Guidance Issued on Incentive Compensation Arrangements 3. Borrower’s Bid to Enjoin Home Foreclosure Is Denied 4. Transaction Account Guarantee Program Is Extended 5. Other Developments: Right to Unionize and Supervisory Conversions Full Reports 1...
| Supreme Court Rules That Bilski's Business Method Is Only An Abstract Idea
Nutter McClennen & Fish, LLP, June 2010, Massachusetts
The long-awaited Supreme Court decision on “business method” patents in the case of Bilski v. Kappos was handed down yesterday and, in a rare instance of unanimity, the justices agreed that Bilski’s method of hedging risks in commodity trading was not eligible for patent protection...
| U.S. Supreme Court Issues Key Ruling on "Processes" as Patentable Subject Matter
Business methods, computer software, and medical method patents not to be categorically rejected
Morris, Manning & Martin, LLP, June 2010, Georgia
The U.S. Supreme Court today (June 28, 2010) handed down its highly-anticipated opinion in the case of Bilski v. Kappos, Case No. 08-964. The Supreme Court affirmed the decision of the Court of Appeals for the Federal Circuit and held that the subject matter of Mr. Bilski’s patent application was not patentable subject matter. However, in ruling against Mr...
| Pharmaceutical and Medical Device Manufacturers must submit first annual Code of Conduct Compliance Filing Form by July 1, 2010
Nutter McClennen & Fish, LLP, June 2010, Massachusetts
This is a reminder. If you are a Pharmaceutical or Medical Device Manufacturer Company (a “PMDMC”) selling your products in Massachusetts, you are likely required to comply with M.G.L. c. 111N, Pharmaceutical and Medical Device Conduct, (“Chapter 111N”) and the regulations found at 105 CMR 970.000. Among other things, this relatively new law requires that PMDMCs make two annual filings with the Department of Public Health...
| 2010 Amendments to Delaware Business Statutes
Potter Anderson & Corroon LLP, June 2010, Delaware
Delaware’s Governor, Jack Markell, recently signed into law bills amending several of Delaware’s renowned alternative business entity statutes, namely, the Delaware Revised Uniform Partnership Act, 6 Del. C. § 15-101, et seq. (“DRUPA”), the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. § 17-101, et seq. (“DRULPA”), and the Delaware Limited Liability Company Act, 6 Del. C. § 18-101, et seq...
| Did the IRS Send You Its Latest Questionnaire?
What You Need To Know About the 401(k) Compliance Check
Potter Anderson & Corroon LLP, June 2010, Delaware
The Internal Revenue Service is sending letters to 1,200 randomly selected employers who sponsor 401(k) plans, instructing them to complete the 401(k) Compliance Check Questionnaire. The questionnaire must be completed on the IRS website within 90 days of receipt or enforcement action will follow. Employers who receive a questionnaire are advised to respond carefully and take certain precautions...
| Therapeutic Discovery Project Credit
Nutter McClennen & Fish, LLP, June 2010, Massachusetts
The Therapeutic Discovery Project Credit program (the “Program”) was included in the recently enacted federal healthcare reform legislation to encourage investments in new therapies to prevent, diagnose, and treat acute and chronic diseases. Run by the U.S. Treasury Department in consultation with the Department of Health and Human Services, the Program is focused on smaller companies (250 or fewer employees) in the therapeutic discovery space...
| 2010 Amendments to Delaware General Corporation Law
Potter Anderson & Corroon LLP, June 2010, Delaware
For 2010, two bills containing amendments to the Delaware General Corporation Law (the “DGCL”) have been approved by the Delaware legislature and signed into law by the Governor. As discussed more fully below, all amendments will become effective in August 2010...
| 2010 Delaware Environmental Case Law Update
Potter Anderson & Corroon LLP, June 2010, Delaware
On June 16, 2010, W. Harding Drane, Jr. presented an update on Delaware case law to the Environmental Law Section of the Delaware State Bar Association. His presentation addressed recent decisions relating to the Clean Air Act, subaqueous lands, contaminated site liability litigation, duty to defend, corporate dissolution, bankruptcy, disposing of solid waste without a permit and standing...
| Win the case but lose the costs: mediated settlements
Minter Ellison, June 2010, Hong Kong
A new feature of the civil justice reform system came into effect on 1 January 2010, nine months into the revamp. Steven Yip and James Yeung report that the introduction of mediation, as prescribed by Practice Direction 31 ('PD 31'), is expected to have a profound impact on the way parties conduct cases...
| How to stop your business going up in a puff of volcanic ash
Minter Ellison, June 2010, Hong Kong
The recent volcanic cloud and flight bans in Europe remind us of the damaging impact that mother nature can have on businesses. Even after the ash has cleared and flights are fully operational again, the extent of the disruption caused by the ash clouds may linger for many years in the form of contractual disputes...
| Securities and Exchange Commission Update
Ulmer & Berne LLP, June 2010, Ohio
Inability to Pay FINRA Award or Settlement is No Longer a Defense to Failure to Comply Charge On June 2, 2010, the U.S...
| Government of the Russian Federation approved the amendments stipulating liability of the host party for foreign employee
ALRUD Law Firm, June 2010, Russia
Dear Sirs, The Government of the Russian Federation approved the draft bill on amendments to Code on administrative offences of the Russian Federation and Federal Law “On legal status of foreign citizens in the Russian Federation”. According to this draft bill the liability for a foreign citizen will be imposed on the host party...
| Amendments to the legislation concerning foreign citizens
ALRUD Law Firm, June 2010, Russia
Dear Sirs, The amendments to the Federal Law “On legal status of foreign citizens in the Russian Federation” are to come into force on July 1, 2010. These amendments are aimed at facilitation of migration rules for certain categories of employees and at improvement of investment climate in Russia...
| 2010 Health Care Reform Legislation - More Information Released on the New Biotech Tax Credit for Therapeutic Discovery Projects Silent
Ulmer & Berne LLP, May 2010, Ohio
On May 21, 2010 the Department of Treasury (Treasury) unveiled the application process for the small business biotech tax credit or grant (the Tax Credit/Grant) detailed in an earlier U&B Client Alert on this topic (http://tiny.cc/0jlsb). Notice 2010-45 explains that taxpayers must submit their applications on Form 8942 by July 21, 2010. Form 8942 will be released by IRS no later than June 21, 2010...
| In Accommodation Matters, the Employer Must Take into Consideration Both the Rights of the Employee and Those of the Clientele
Lavery, de Billy, L.L.P., May 2010,
Last August, an arbitrator ruled on a dispute in the context of which accommodation measures were sought for the benefit of a person who had in excess of ten years of seniority and no longer held her position, having been absent for nearly three years for physiological reasons...
| Disclosure: A duty to Seek, Not Hide
Shoosmiths, May 2010, England
What is disclosure? It is the stage of a dispute when each party is required to disclose to the other party the documents relevant to the issues in dispute. It normally takes place after each party has set out its position in their statement of case. The purpose of disclosure is to make available to all other parties, and ultimately to the court, evidence which either supports or undermines the respective parties’ cases...
| The New Insurance Block Exemption
Shepherd and Wedderburn, May 2010, Scotland
“Therein the patient must minister to himself” (Macbeth, Act 5, Scene 3) With only seven days to go before the expiry on 1 April 2010 of the previous insurance block exemption, the European Commission adopted a new exemption, albeit in very much reduced form...
| The Future of North Sea Oil
Shepherd and Wedderburn, May 2010, Scotland
The UK is a mature oil and gas province, past its peak, competing for investment in a global market. Nevertheless, there are still huge reserves of oil and gas remaining. Industry association Oil and Gas UK (OGUK) estimates that up to 25 billion barrels of oil equivalent could still be produced from UK waters. To put that in perspective, around 40 billion barrels have been produced to date...
| Public Procurement: When do the procurement rules apply to in-house awards?
Shepherd and Wedderburn, May 2010, England
When reviewing the portfolio of services, authorities are often faced with the question of how it can obtain more value for money for particular services. This usually involves considering whether to outsource a particular service to private sector. Sometimes authorities look to combine their respective operations of a particular service to achieve economies of scale (and/or scope) or to swap capacities or services with each other...
| Supreme Court Update: Class Arbitration Not Warranted Where Arbitration Agreement Is Silent
Ulmer & Berne LLP, May 2010, Ohio
In Stotl-Nielsen S.A. v. AnimalFeeds Internat’l Corp., decided on April 27, 2010, the United States Supreme Court held, in a 5-3 decision with Justice Sotomayor not participating, that class action arbitration cannot be imposed on parties whose arbitration agreement is silent on the question. The decision is a victory for those who want arbitration to remain a lower cost alternative to litigation and who seek to circumscribe arbitrator discretion...
| Nigerian Courts Continue to Develop the Law in Relation to Cabotage
AELEX, May 2010, Nigeria
CASE REVIEW The Federal High Court in the recent case of NOBLE DRILLING (NIGERIA) LIMITED V THE NIGERIAN MARITIME ADMINISTRATION AND SAFETY AGENCY (NIMASA) & THE MINISTER OF TRANSPORTATION, (Suit No. FHC/L/CS/78/2008) provides clarity on Sections 2, 5 and 22(5) of the Coastal and Inland Shipping (Cabotage) Act, Cap. C51, Laws of the Federation of Nigeria, 2004 (Cabotage Act)...
| Mozambique’s Natural Gas Strategy – a Lever for Development
SAL & Caldeira Advogados Lda., May 2010, Mozambique
Late last year, the Government issued a new National Strategy for the Development of the Natural Gas Market in Mozambique, reflected in Resolution n.° 64/2009 of 02 November (“Resolution 64/2009”)...
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