Mondaq Most Recent Articles-06 January 2009

Offshore: Company Formation FAQ on Cyprus brought to you exclusively from Andreas Sofocleous & Co FAQ for company formation in Cyprus.	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.
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?
Financial Reporting - IFRS - Business Combinations – A New Model Smith & Williamson Recent revisions to IFRS 3 and IAS 27 mean that changes will be required to long-established accounting treatments and could affect the structure of future acquisitions.	Expert Testimony - Admit Or Preclude ? Rawle & Henderson Where a particular case is venued may have a significant impact on the admissibility of scientific expert opinions.
What Should Be Keeping You Awake at Night: Litigation Holds Waller Lansden Dortch & Davis Any experienced trial lawyer who is called upon to handle a complex business dispute or government investigation will agree that the timely issuance and the proper management of a "litigation hold" is critical. One very recent federal case, while not addressing directly the failure to issue a "hold," highlights the problem.	Mishcon’s Recruitment Watch (March 2008) Mishcon de Reya Welcome to the March 2008 edition of Mishcon de Reya's Recruitment Watch, prepared by the Firm's Recruitment Services Group. Its aim is to provide those involved in the recruitment sector with a snapshot of what has been happening in the world of recruitment in the last month.
Antitrust & Trade Regulation Update Squire, Sanders & Dempsey L.L.P. Federal Trade Commission (FTC) Chairman, Deborah Platt Majoras, has announced her decision to leave the FTC in late March. Majoras was appointed by President George W. Bush and served as FTC Chairman for over four and half years.	The Role Of Liability Insurance Policy Notice Conditions In Product Liability Claims Segal McCambridge Singer & Mahoney, Ltd. There is no special magic to the application of liability insurance policy notice provisions to product liability claims. In a product liability claim, like all other liability insurance claims, notice is an important component of the insurance contract.
Financial Reporting - A Briefing For Finance Directors, March 2008 Smith & Williamson We look at the impact recent revisions to IFRS will have on both accounting practices and future acquisitions.	Monoline Insurers: Confusion In The Credit Default Swap Market Sutherland Recent turmoil in the credit market highlights the precarious position of several of the large monoline insurance firms.The monolines have provided irrevocable financial guarantees to a multitude of structured transactions, including many of the sub-prime ABS and CDO’s.
Asbestos Litigation - Where We Have Been, Where We Are Now, Where We Are Going Segal McCambridge Singer & Mahoney, Ltd. Did the plaintiff’s attorney realize that he was unleashing the longest running mass tort litigation in U.S. history when he filed the case of Borel v. Fiberboard Paper Products Corporation, 493 F.2d 1060 (5th Cir. 1973)? After the Fifth Circuit affirmed the judgment of $68,000 for Mr. Borel’s asbestosis, the rush to file cases was on.	Time Limits In Employment Law Glovers Solicitors LLP Unfair dismissal claims must be brought within 3 months of the Effective Date of Termination. This is subject to some exceptions.
U.S. Supreme Court Rules Federal Arbitration Act Supersedes State Laws Vesting Jurisdiction In Administrative Forums Sutherland The United States Supreme Court has now held that when parties agree to arbitrate all questions arising under a contract, the Federal Arbitration Act ("FAA") will supersede state laws vesting jurisdiction over a dispute in an administrative forum.	Seventh Circuit Upholds CDA Immunity For Craigslist—But What Is The Impact, If Any, On Roommate.com? Fenwick & West LLP On March 14, 2007, the Seventh Circuit issued an important decision regarding the scope of the safe haven under the Communications Decency Act (CDA) for internet service providers against liability for information created and provided by third parties.
A Tentative Deal For Restructuring Canadian ABCP McCarthy Tétrault LLP On December 23, 2007, the Pan-Canadian Investors Committee for Third-Party Structured Asset-Backed Commercial Paper announced that an ‘agreement in principle’ had been reached for a restructuring of $33 billion of approximately $35 billion of Canadian ABCP. The repayment of this debt had been frozen pursuant to a standstill created by the ‘Montreal Accord’ as of August 16, 2007.	Ontario Venture Capital Developments McCarthy Tétrault LLP In November 2007, the Ontario government announced it had entered into a letter of intent with Canadian institutional investors to establish an Ontario-focused venture capital ‘fund of funds.’ This is part of the government’s stated goal to "strengthen Ontario’s ability to support innovative, high-growth companies in the province to expand business opportunities and create jobs."
Budget – 2008 Mishcon de Reya Alastair Darling's first Budget contains few surprises and largely reprises measures we already knew about. A summary of some of the key measures announced on 12 March 2008 is set out below.	Impact Of Recent Restrictions On Foreign Investors In The Chinese Real Estate Market Jones Day China is experiencing rapid development, and the real estate and construction industries are playing a vital role. Recently, the Vice Minister of the Ministry of Construction ("MOC"), Qi Ji, indicated that these two industries constitute more than 10 percent of the national economy.
Enforcing Canadian Class Action Judgments Abroad — No Easy Task McCarthy Tétrault LLP There is a growing trend in class action settlements, particularly in price-fixing actions, for defendants to seek certification of a worldwide settlement class. However, there is a significant risk that judgments approving a worldwide settlement class will not be enforced in most, if not all, European countries. As a result, defendants may pay for a worldwide release of their liability that they will not actually receive.	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 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 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.