Mondaq Most Recent Articles-06 September 2008

False Advertising FAQ on United States brought to you exclusively from Patterson Belknap Webb & Tyler LLP Frequently asked questions on false advertising.	Labour Law FAQ on Germany brought to you exclusively from Schneider Schwegler Frequently asked questions about Labour law in Germany.
Offshore: Trusts FAQ on Mauritius brought to you exclusively from Multiconsult A definitive guide to the offshore trust market through questions and answers.	Offshore: Funds & Financial Services FAQ on Cayman Islands brought to you exclusively from Walkers Frequently asked questions on funds and financial services in the offshore market.
Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP Can private actions be configured as class actions?	Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP We are charity set up to preserve wildlife and educate the public about it. We are starting a trading operation. We will be selling wildlife related books and other unrelated items to generate income. We expect to make a profit, will this be liable for tax?
Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP What is the effect of confirmation of the plan on the company and on existing creditors and equity holders? Can a plan be enforced notwithstanding objections of creditors?	Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP What practical issues are raised by the need to call present and ex- employees as witnesses in litigation? Can/should an unwilling witness be subpoenaed? What practical steps can a company take to protect its position in this regard?
From ‘Set for Life’ to ‘Banned for Life’: New B.C. Securities Act Penalty Provisions Pack Some Punch McCarthy Tétrault LLP On December 21, 2007, the British Columbia Securities Commission imposed on Ian Gregory Thow a $6-million fine and a permanent prohibition from participation in B.C.’s capital markets for what the BCSC said was "one of the most callous and audacious frauds this province has seen."	Recalls 2008: Are You Ready? Ogilvy Renault The number of recalls and public notices of voluntary product withdrawals that have been issued over the last year is unprecedented in Canada. These recalls and notices have resulted in a far greater visibility and awareness of product safety and quality issues.
Supreme Court Allows ERISA Relief For Individual Plan Accounts Sutherland Asbill & Brennan The U.S. Supreme Court ruled yesterday in LaRue v. DeWolff, No. 06-856, that individual participants in defined contribution plans can sue under ERISA for losses to their individual accounts caused by an alleged fiduciary breach.	Cyber World Group Pleads Guilty to Illegal Gambling McCarthy Tétrault LLP In late November 2007, the media reported that Cyber World Group had pled guilty to charges of illegal gambling in Quebec and had been ordered to pay a $2-million fine. The gaming giant administers GoldenPalace.com, one of the largest Internet casinos in the world.
Per Se Rules Regarding "Me Too" Evidence Rejected Fenwick & West LLP In Sprint/United Mgmt. Co. v. Mendelsohn, the Supreme Court held that "me too" evidence of discrimination is neither per se admissible nor per se inadmissible in an age discrimination lawsuit, and trial courts are required to engage in a balancing test to determine whether such evidence should be admitted.	Corporate And Financial Weekly Digest - March 14, 2008 Katten Muchin Rosenman LLP On March 12, Erik Sirri, Director of the Division of Trading and Markets of the Securities and Exchange Commission testified before the Committee on Financial Services of the United States House of Representatives that the SEC will allow state agencies and municipalities to buy back their own auction rate bonds as a measure to ease the distress in the credit markets which has made borrowing more expensive for state agencies and municipalities.
Rulings On Class Certification, Expert Testimony And Summary Judgment In Case Involving Sales Of Annuities For Qualified Retirement Plans Sutherland Asbill & Brennan A federal Magistrate Judge in Texas has issued three rulings in a putative class action alleging that the defendant insurer omitted material information in its disclosures in connection with the sale of variable deferred annuities for use in tax-deferred qualified retirement arrangements such as Individual Retirement Accounts ("IRAs"), 401(k) and 403(b) plans.	Mcdonald’s Failed In Duty To Accommodate McCarthy Tétrault LLP A Human Rights Tribunal has decided that McDonald’s did not do enough to accommodate a long-term employee who developed a skin condition that prevented her from meeting the restaurant’s hand-washing policies
International Arbitration Developments: Canada Strengthens Investor Protections McCarthy Tétrault LLP Canada has just passed legislation implementing the ICSID Convention, a very important tool for the resolution of investor-state disputes: Bill C-9, An Act to implement the Convention on the Settlement of Investment Disputes between States and Nationals of other States (ICSID Convention), received Royal Assent on March 14, 2007.	Late Starter - Rural Development Kicks Into Action Smith & Williamson The RDPE has finally been approved. But Defra’s changes to the ESS and Energy Crops Scheme could affect growers in various ways.
Ontario Securities Commission Provides Guidance On Material Changes And M&A Negotiations Torys LLP In its recent decision in AiT Advanced Information Technologies Corporation, the Ontario Securities Commission gives direction to target corporations for determining when a material change occurring during the course of negotiating a merger and acquisition transaction would trigger a disclosure obligation under Ontario securities law.	Commissioner Of Competition V. Labatt: A Tempest In A Teapot? Torys LLP Last April, we reported that the Competition Tribunal had dismissed an application by the Commissioner of Competition for an order under section 100 of the Competition Act to prevent the closing of Labatt’s acquisition of Lakeport Brewing – see M&A Bulletin, April 9, 2007, Labatt–Lakeport Transaction: Implications of the Competition Tribunal’s Dismissal of the Commissioner’s Application to Prevent the Merger Closing.
Squeezing The Bottom Line - Input Costs Smith & Williamson Recent increases in prices and demand threaten to pinch the financial returns of farmers.	Renewable Energy - Opportunities For Growth? Smith & Williamson The growth of the renewable energy sector could provide forward-thinking farmers with ample opportunities.
Environmental Inroads - Biofuels Need To Prove Their Worth Smith & Williamson With the start date of the RTFO just around the corner, the environmental impact of biofuels has come under the spotlight.	Agricultural Bulletin - A Briefing For Farmers And Land Agents. Good For The Environment? Smith & Williamson With the start date of the RTFO just around the corner, the environmental impact of biofuels has come under the spotlight.In April 2008, the Renewable Transport Fuel Obligation (RTFO) kicks into action. It aims to encourage mineral-oil fuel companies to incorporate biofuels into their road fuel sales.
The Significance Of Recent Lawyer-Client Privilege Decisions Torys LLP Courts rendered a number of significant rulings concerning lawyer-client privilege in 2007. Privilege decisions in the context of related corporations, special committees of boards of directors, and competition investigations overseas led to important developments relating to the scope, preservation and waiver of the privilege.	Document Retention Policies: An Ounce Of Prevention Torys LLP In January, the Federal Court of Canada set aside document-production orders issued to the Competition Bureau under section 11 of the Competition Act in connection with the Bureau’s review of the Labatt/Lakeport merger.
Restrictions Relaxed On Advertising Certain Drugs As Preventatives For Schedule A Diseases Torys LLP Section 3 of the Food and Drugs Act prohibits the advertisement, to the general public, of a food, drug, cosmetic or medical device as a preventative, treatment or cure for certain diseases, disorders and abnormal physical states.	Corporate Alert - March 2008 DLA Phillips Fox This quarterly bulletin from the Corporate team aims to bring you pertinent commentary on key issues and interesting cases in the areas of Takeovers, Initial Public Offerings (IPOs), Listing Rules and the Corporations Act.
Canadian Securities Regulators Propose Revised Rules For Executive Compensation Disclosure Torys LLP Canadian securities regulators have proposed revised rules on executive compensation disclosure. The regulators believe that the current requirements, introduced in 1994, have not kept pace with evolving compensation practices.	CSA Propose Amended National “Soft Dollar” Legislation Osler, Hoskin & Harcourt LLP The CSA have proposed a National Instrument 23-102 Use of Client Brokerage Commissions as Payment for Order Execution Services or Research and a companion policy.
ASIC And ASX Warn Market About Stock Lending And Short Selling Obligations DLA Phillips Fox Falling share prices, margin loans calls and alleged short selling antics of market participants have dominated market commentary in recent weeks.	Developments In Climate Change Disclosure Requirements Torys LLP Investors and securities regulators are increasingly paying attention to what public companies are disclosing about their climate change risks and opportunities.
Loss Of U.S. Compensation Deduction As IRS Narrows View On “Performance-Based” Exception Osler, Hoskin & Harcourt LLP US compensation deductions for certain payments are threatened by a recent IRS position that reverses a long-standing interpretation that certain bonuses arrangements qualify for an exception to Code Section 162(m)’s deduction limitation for “performance-based” compensation.	CSA Tighten Rules For Filing Material Contracts Osler, Hoskin & Harcourt LLP Canadian Securities Administrators have changed the continuous disclosure rules that require a reporting issuer to disclose and file material contracts on SEDAR.
Joint Review Panels Exceed Mandate With Use of Sustainability Framework Osler, Hoskin & Harcourt LLP Two recent joint review panel decisions illustrate a recent trend towards expanding the role of sustainable development in environmental assessments.	The Dupont Inquest: Hospital Obligations To Protect Patient And Workplace Safety Osler, Hoskin & Harcourt LLP The verdict of the Coroner’s Jury in the inquest into the deaths of Nurse Lori Dupont and Dr. Marc Daniel at the Hotel-Dieu Grace Hospital made 26 recommendations.
Commissioner Rebuked In Seeking Ex Parte Order For Extensive Information Osler, Hoskin & Harcourt LLP A Federal Court Judge rebuked the Commissioner of Competition for providing “misleading, inaccurate and incomplete” information in support of an ex parte request.	Federal Court Of Appeal Affirms Test To Delay Merger Closing Osler, Hoskin & Harcourt LLP For the first time, Canada's Federal Court of Appeal affirmed the test that the Commissioner of Competition must meet to delay completion of a proposed transaction.