The 2015 Mergers Control Survey by Margaret Huang and Victor Chang of LCS & Partners reviewed the merger control regime in Taiwan for IFLR. 1. REGULATORY FRAMEWORK1.1 What is the applicable legislation and who enforces it?The Fair Trade Act (FTA), which entered into force in 1992, is the main legislation governing Taiwanese merger control. Merger control is enforced by the Taiwan Fair Trade Commission (TFTC) ...
On Tuesday, March 24, 2015, the Supreme Court issued its decision inOmnicare Inc. v. Laborers District Council Construction Industry Pension Fund, 575 U.S. __ (2015). The ruling identifies two avenues by which a company’s statements of opinion in registration statements for initial public offerings can lead to liability under Section 11 of the Securities Act of 1933 ...
In a monumental decision, today the United States Supreme Court ruled that Trademark Trial and Appeal Board (“TTAB”) decisions carry preclusive effect in subsequent federal district court decisions so long as the ordinary elements of issue preclusion are met. The ruling implicates that, where use is the “paramount” issue in a court case, a TTAB decision that at least peripherally contemplates marketplace use will have preclusive effect ...
“Families that play together, stay together”. That’s what my late grandfather always used to say. But what does his message have to do with developing business opportunities in a law firm? In my opinion, everything. Business development is about people. It’s about relationships. Not just momentary relationships, but committed relationships. Relationships one would most likely find in a family. What unites a family and makes it strong? Trust, common values and support ...
On January, 22, 2015, in thematter of Betteto Frett v National Bank of the Virgin Islands[i](theBank), the BVIHigh Court reinforced the principle that injunctive relief would not be easilygranted against a bank validly exercising its power to sell real property usedas security for bank loans ...
On December 17, 2014, New York Assembly Bill 9933, which amends the Uniform Commercial Code in effect in the state of New York (the “NYUCC”), was signed into law by Governor Andrew Cuomo, and took effect immediately. This new law (the “UCC Revisions Law”) includes several changes to Article 9 of the NYUCC (“Article 9”), that governs the creation and perfection of security interests in personal property under New York law ...
On 3 March 2015 IVASS published Regulation No.8 (the “Regulation”) on the simplification of procedures and requirements in the relationship between insurance companies, intermediaries and clients, implementing section 22, paragraph 15 bis, of Law Decree of 18 October 2012,No. 179, converted into Law No. 221 dated 17 December 2012 ...
Target, Home Depot, Sony, Anthem. All of these companies have been victims of very public cybersecurity breaches. Given what we know about those breaches, how can any other company know that it is safe from a cyber attack? No firewall appears to be unbreachable and no security system impenetrable. No company is big or small or traditional enough to avoid such exposure, as long as the business receives or transmits data or uses computer networks ...
Goodyear Tire & Rubber Co. recently agreed to pay $16.2 million to settle Foreign Corrupt Practices Act (“FCPA”) charges for conduct related to two subsidiaries in sub-Saharan Africa. Goodyear’s settlement highlights the government’s expansive interpretation of the books and records provision under the FCPA ...
On 19 February 2015, the Financial Services Commission removed restrictions on the use of the following words in the names of BVI Business Companies – 1.“BVI”;2.“British Virgin Islands”;3.“Council”;4.“Ntl”;5.“Int”;6.“Intl”;7.“VI”; and 8.“Virgin Islands” ...
Bank Indonesia issued Circular of Bank Indonesia No. 16/17/DSta, which came into force on 3 November 2014 (SEBI 16/17/DSta), which is a fourth amendment to Circular of Bank Indonesia No. 13/3/DPM on Commercial Bank Daily Report. SEBI 16/17/DSta amends the scope of information to be submitted to Bank Indonesia as well as, additional codes for exempted foreign loans, and additional codes for validation systems ...
Last week, President Obama issued an executive order promoting cybersecurity information sharing. Specifically, the executive order directs the Secretary of Homeland Security to encourage the development and formation of Information Sharing and Analysis Organizations (ISAO) ...
The Texas Supreme Court has looked to the drilling contract between Transocean and BP to limit BP’s “additional insured” coverage for liability arising out of the Deepwater Horizon disaster ...
On January 13, 2015, New Mex Canada Inc. ("New Mex"), an Ontario corporation and employer in that same province, was sentenced to pay a fine of $250,000 while two of its officers each received 25-day prison terms after pleading guilty to several offences under the Ontario occupational health and safety legislation and regulations. The proceedings were instituted following a workplace accident in which a worker died after a fall ...
An amendment to the Competition and Consumer Protection Act went into force on 18 January 2015. The changes are sweeping.The Act of 10 June 2014 Amending the Competition and Consumer Protection Act and the Civil Procedure Code was published on 17 July 2014 and went into force six months later, on 18 January 2015.Below we review some of the key changes introduced by the amending act, which we also reported on several times during the course of the legislative process ...
IFLR 1000's Michael Washburn interviewed O’Neal Webster’s new Partner, Christopher Simpsonin relation to capital markets trends for an articlepublished on 11February, 2015. Click here to read the article.He noted, among other things, that recent legislation in the BVI, such as the approved managers regime, which Simpson describes as a“lighter-touch” regulation for managers desiring to oversee an investment fund or funds through a BVI entity, is an encouraging trend ...
The False Claims Act, 31 U.S.C. §§ 3729, et seq. (“FCA”) continued to be a significant focus of government and whistleblower activity in 2014. This 2014 False Claims Act Year in Review highlights key developments, including: statistics showing that the rate of FCA filings remains very high, with the number of suits filed by whistleblowers exceeding 700 for the second year in a row,a report by the U.S ...
The SEC’s Office of Compliance Inspections and Examinations (OCIE) yesterday issued a Risk Alert reporting its findings from cybersecurity examinations of registered broker-dealers and investment advisers and stated that it will continue its focus on cybersecurity in 2015 through risk-based examinations. OCIE revealed that most of the examined firms had experienced some type of cyber-attack, primarily through malware and fraudulent emails ...
Australia has a complex system of taxation including a Federal income tax, capital gains tax and goods and services tax (GST) and eight separate State and Territory systems of duties and taxes. Tax planning is therefore important to maximise after-tax investor returns. The following guide sets out some high level issues to consider on a global M&A deal where the target is an Australian company or business or where downstream Australian subsidiaries are involved ...
Strategically located between Europe, Africa and Asia, the United Arab Emirates (the “UAE”) has become a hub for trade and commerce throughout the world. In order to further encourage foreign investment, more than 20 free zones have been established across Dubai and focus on a wide range of business sectors, ranging from manufacturing to technology. Free zones offer a number of advantages to foreign businesses, including zero taxation, repatriation of profits and 100% foreign ownership ...
Consumers that filed a class action against Target Corporation following the company’s 2013 payment card breach have survived a motion to dismiss ...
The Philippines section of The International Capital Markets Review 5th Edition contains an introduction to The Securities Regulation Code; The Securities and Exchange Commission; self-regulatory organizations, exchanges, clearing agencies and depositories; recent jurisprudence; developments affecting debt and equity offerings; developments affecting derivatives, securitizations and other structured products; cases and dispute settlement; relevant tax and insolvency law; other relevant laws an
A recent decision by a New Jersey bankruptcy court scrambles the law regarding rejected trademark licenses.1 Crumbs was a multi-location bakery that also licensed its trademarks and trade secrets to third parties. In July of 2014 Crumbs filed a Chapter 11 reorganization case and in August of 2014 the court entered an order selling substantially all of the assets of Crumbs to LFAC2 free and clear of liens, claims, encumbrances, and interests ...
In a case that should cause lenders heartburn, the United States District Court for the Western District of North Carolina recently ruled that common provisions in a Chapter 11 plan prevented the debtor’s lender from executing on a judgment against the non-debtor owner of the debtor.1 Biltmore is a corporation2 that operates manufactured home parks and sells and rents manufactured homes. McGee is the president and controlling shareholder of Biltmore ...
