On 31 July 2023, significant changes to the Eastern Caribbean Supreme Court Civil Procedure Rules ("ECSC CPR") will come into effect. Arguably the most significant changes for parties to litigation in the BVI Commercial Court are the amendments to ECSC Part 7, governing service of proceedings out of the jurisdiction ...
July 21, 2023 By: Robert S. Cooper The Adolph v. Uber Ruling Thwarts The U.S. Supreme Court’s Landmark Viking Decision In a widely anticipated but unsurprising ruling, the California Supreme Court on July 17, 2023 issued its decision in Adolph v. Uber Technologies, Inc., (S274671) weighing in on the United States Supreme Court’s (“SCOTUS”) recent landmark decision in Viking River Cruises, Inc. v. Moriana, (2022) 596 U.S. __, [142 S. Ct 1906] (Viking) ...
On June 7, 2023, the Minister of Finance of Quebec tabled and presented Bill 30 before the National Assembly, an omnibus bill entitled An Act to amend various provisions mainly with respect to the financial sector (hereinafter the ?Bill?). The Bill includes certain amendments to the provisions of the Insurers Act (?IA?) and the Act respecting the distribution of financial products and services (?DA?) ...
On July 3, 2023, Ohio’s biennial budget bill[1] was signed into law by Governor Mike DeWine. In addition to major budget provisions, the bill also includes notable changes to Ohio’s Medical Marijuana Control Program (“MMCP”), the state program that regulates and licenses cultivators, processors, testing laboratories, dispensaries and medical marijuana cardholders. Beginning January 1, 2024, the MMCP will be under new management ...
As previously reported on this site, nuclear generation development has taken hold as a potential promise for a long-term, genuinely carbon-free power supply. The momentum of this potential is rapidly gaining steam (no pun intended) both internationally and domestically, posing the domestic energy policy question of whether the U.S. is sufficiently poised to capitalize on this momentum ...
In a decision issued late last month, the U.S. Court of Appeals for the Second Circuit provided new guidance on the rules governing the U.S. Securities and Exchange Commission's ability to seek the remedy of disgorgement in enforcement actions. The new guidance continues the process of resolving uncertainty left by the U.S. Supreme Court's 2020 decision in Liu v ...
Patterson Belknap Webb & Tyler LLP is pleased to announce that the firm has been recognized by Chambers High Net Worth 2023 in the following practice areas: Art and Cultural Property Law – USA Private Wealth Law – New York Chambers rankings are based on extensive research and interviews with peers and clients around the country ...
Buchalter Client Alert July 17, 2023 By: Melissa Richards Florida has enacted its own Commercial Financing Disclosure Law (“CFDL”) that is similar to California and New York’s disclosure laws. The Florida CFDL applies to covered “Commercial Financing Transactions” consummated on or after January 1, 2024 that are $500,000 or less and originated by a covered “Provider ...
Many billions of assets under management have already been tokenised. High profile managers such as Franklin Templeton, Abrdn, KKR, Mitsui and Hamilton Lane have already launched tokenised products. Whilst there is no doubt that this is a nascent space, and these assets still represent a tiny percentage of the funds industry, we expect this area to grow exponentially in the coming years. What is tokenisation? Tokenisation is the digital representation of "traditional" financial assets (e.g ...
Acting as a director of a company or incorporated body (whether incorporated in or under the laws of the Bailiwick of Guernsey or elsewhere) by way of business[1] is a regulated activity under The Regulation of Fiduciaries, Administration Businesses and Company Directors, etc (Bailiwick of Guernsey) Law, 2020 as amended (the "Fiduciaries Law") ...
On 25 April 2023, Guernsey introduced the Preferred Debts (Insurance Policyholders) (Bailiwick of Guernsey) Amendment Ordinance, 2023. That Ordinance effects changes to the Preferred Debts Law, 1983, which accords priority to certain preferred creditors in the event of insolvency. Full details of Guernsey's insolvency regime can be found here ...
The court’s decision in Mallory could have profound implications for larger-sized companies that operate in multiple states throughout the country. And nowhere is this truer than in New York, where the state’s status as a global hotspot for foreign investment has attracted myriad out-of-state companies to register to do business within its borders. For over half a century, the U.S ...
As the latest signal in the priority of the Duty to Report in Ohio, the State Medical Board has updated its Duty to Report video.[1] The video is offered by the Board for physicians to fulfill the mandatory continuing medical education (CME) component of the license renewal process in Ohio. Introduced in a new regulation on May 31, 2021,[2] the Board began mandating one hour of CME on the topic of the legal duty to report misconduct ...
A month after nixing the “objectively reasonable interpretation” (Safeco) defense under the False Claims Act, the Supreme Court has vacated and remanded two other cases for further consideration of the defendant’s subjective state of mind when it filed payment claims with the government. The Fourth Circuit in Sheldon and the Eleventh Circuit in Olhausen will provide the first tests of the High Court’s newly minted FCA intent standard ...
On June 29, 2023, the Supreme Court ruled in Students for Fair Admissions, Inc., v. President and Fellows of Harvard College and Students for Fair Admissions, Inc., v. University of North Carolina (collectively “SFFA”) that Harvard and the University of North Carolina (“UNC”) violated the Equal Protection Clause of the Fourteenth Amendment by impermissibly considering race when making undergraduate admissions decisions ...
The key issue before the formal body of advisers to the UK sovereign was whether the trustee of a settlement “exercised for a proper purpose” an express power contained in the trust deed to add and exclude discretionary objects, having added a purpose trust as an object and removed all family members comprising the entire class of objects. The Background The trust settlors were two brothers who founded Formosa Plastics Group, one of the largest business conglomerates in Taiwan ...
Legal service providers (LSPs) in Bermuda are encouraged to contribute to the development and implementation of new and existing legislation in response to the ever-evolving needs of their clients ...
