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Shoosmiths LLP | June 2022

Insolvency practitioners are undoubtedly alive to the risks of ignoring or mis-handling crypto assets and the threats of misfeasance or unfair harm claims that could follow. In this, the first in a series of articles on the subject, the message is simple – the technical details might appear arcane but provided you take specialist advice, a crypto asset is no different from any other asset you come across – keep calm and carry on ...

Asters | June 2022

The military aggression of Russia and its satellites against Ukraine is not only a personal tragedy of Ukrainians and a threat to the existence of Ukrainian statehood. It also has an economic dimension in the form of huge material losses suffered by both Ukraine in general and each citizen in particular ...

Asters | June 2022

Military action has made adjustments to the activities of the vast majority of companies in Ukraine. Unfortunately, for many employers, the issue of revising the terms of remuneration of staff in the direction of reduction has become relevant. The Law of Ukraine “On the Organization of Labor Relations in Martial Law”  (the Law), which entered into force on March 24, reminded of the restriction of the constitutional right to work for the period of martial law ...

Asters | June 2022

What is important to consider? Many Ukrainian citizens are forced to stay abroad due to a full-scale Russian invasion. Some were there before the war and could not return, others had to leave Ukraine after February 24. It is clear that something is very difficult to predict at the moment and it can happen that, depending on your circumstances, your stay abroad can be long ...

Asters | June 2022

On June 21, the President  signed a  law ratifying the Council of Europe Convention on Preventing and Combating Violence against Women and Domestic Violence (hereinafter referred to as the Convention). The day before, the law was passed by the Verkhovna Rada, 259 people's deputies voted for ratification, and only eight opposed it ...

Simonsen Vogt Wiig AS | June 2022

Prior to the entry into force of the FDI Screening Regulation on 11 October 2020, there was no EU-wide formalized cooperation among the Member States and the European Commission on these matters. In the EU, the European Commission’s strong expectation is that all 27 EU Member States will put national FDI screening mechanisms in place. A national screening mechanism in all 27 Member States serves to safeguard all individual Member States against potentially risky foreign investments ...

Shoosmiths LLP | June 2022

In the lead up to the UK COVID-19 Public Inquiry, we look at the impact the pandemic has had on the Education sector. Education has been particularly badly affected by worldwide COVID-19 restrictions, with 184 country-wide school closures, leaving 1.53 billion out of school, and impacting 87.6% of the world’s total enrolled learners1. The move to online learning One of the biggest changes for the sector was the move to remote learning ...

Shoosmiths LLP | June 2022

In a judgment handed down on 14 June 2022 in The Federal Republic of Nigeria v JPMorgan Chase Bank, N.A [2022] EWHC 1447 (Comm) (FRN v JPMC) the court again considered the scope of the Quincecare duty and gross negligence. The decision is good news for Banks. The case related to the payment of over $1 billion by JPMorgan Chase (JPMC) to accounts held by a Nigerian company called Malabu Oil and Gas Limited (Malabu) ...

Dinsmore & Shohl LLP | June 2022

Regulation brings uniformity and security, which may feel anathema to the fundamental premise of distributed ledger technology (specifically blockchain and the nascent crypto industry blockchain technology allows) – a world that needs neither trust nor centralized authority. Nevertheless, two U.S. senators are pushing to reconcile these seemingly contrary positions and priorities ...

Dinsmore & Shohl LLP | June 2022

Dinsmore partner Michael Dailey was published in Bank Director with his article "Recent Developments to Combat Redlining." Read an excerpt below. Regulators have worked on a variety of anti-redlining proposals in recent months, including a joint initiative by the Department of Justice, the Consumer Financial Protection Bureau, and the Office of the Comptroller of the Currency. Initial reactions to the initiative expected it to focus on the redlining seen in the Trustmark Corp ...

Shoosmiths LLP | June 2022

An LTAF is a UK authorised fund which offers greater flexibility in terms of assets that it can invest in than other types of UK authorised fund. It has more liquidity than more traditional fund structures such as private equity limited partnerships ...

DFDL | June 2022

The State Bank of Vietnam (“SBV”) released a draft Circular on 11 May 2022 strengthening conditions for non-government guaranteed foreign loans (the “Draft Circular”) which aims to replace Circular No. 12/2014/TT-NHNN (the “Current Circular”). In the Draft Circular, the SBV indicates its intention to tighten control over foreign loans to address the risks on currency fluctuation and the national debt limit ...

Shoosmiths LLP | June 2022

Why a comprehensive exclusion of loss clause should cover 'wasted expenditure' - and how employers should resist. The Court of Appeal decision in Soteria Insurance Limited (formerly CIS General Insurance Limited) v IBM United Kingdom Limited (February 2022 Court of Appeal) contains a short but important point for those drafting exclusion clauses - especially those that seek to exclude indirect and consequential costs, loss of profits, loss of opportunity, etc ...

Shoosmiths LLP | June 2022

A summary of the key takeaways from a recent webinar on reducing scope 3 leased assets emissions. Shoosmiths is delighted to be sponsoring United Nation Global Compact Network (UNGC) UK’s series of webinars on ‘Reducing Scope 3 Emissions’ ...

Shearn Delamore & Co. | June 2022

Dear valued clients, colleagues and friends, We are pleased to bring you the latest legal updates for June 2022 ...

Shearn Delamore & Co. | June 2022

Dear valued clients, colleagues and friends, Fiction relies on creative and stylistic choices to entertain. Are there restrictions to creative licence when creativity meets real life? The High Court recently had to decide on a whether a claim, asserting defamation arising from a fictional drama, could be sustained or ought to be disposed of summarily. The Court struck out the defamation claim; a decision that is welcomed in light of the thriving entertainment industry in Malaysia ...

Shortly after his administration began, President Biden signed Executive Order 13985, "Advancing Racial Equity and Support for Underserved Communities Through The Federal Government." In April 2022, in accordance with this Executive Order, the Equal Employment Opportunity Commission ("EEOC") released its "Equity Action Plan," which contains several items that may impact employers ...

Dinsmore & Shohl LLP | June 2022

In a class action lawsuit filed Monday in the United States District Court for the Northern District of California, Binance.US (Binance), a major cryptocurrency exchange, has been accused of misleading investors surrounding the Terra blockchain ecosystem. This is the first major court filing in the United States relating to Terra, whose UST and LUNC tokens crashed in May, wiping out around $40 billion in investor funds ...

Buchalter | June 2022

June 13, 2022 By: Melissa Richards On June 9, 2022, the California Department of Financial Protection and Innovation (CA DFPI) issued its long awaited final regulations implementing SB 1235’s (2018) new early disclosure requirements on  commercial financing offers equal to or less than $500,000. The CA DFPI regulations take effect December 9, 2022. The final regulations can be found at Title 10, Chapter 3 of the California Code of Regulations. The link to Chapter 3 is HERE ...

DFDL | June 2022

On the 25th of May 2022 the General Department of Taxation (“GDT”) issued Notification No. 10979 GDT on the “Required Documents to Support the Interest Charge on Related Party Loans” (“Notification 10979”). The key points to be taken from Notification 10979 are as follows: To ensure compliance with Prakas No. 986 MEF.P ...

AELEX | June 2022

In the recent case ofAslan v Stepanoski[1](the Aslan case), the Court of Appeal of New South Wales, Australia upheld a builder’s action suspending the performance of works over non-payment and denial of access to the site by the employer. The Court held that the contractor’s decision to suspend works was not a repudiatory conduct as he was entitled to do so under the contract ...

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