Mondaq Most Recent Articles-24 July 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?
Can Use Of A Company Name Be Trade Mark Infringement? Stephenson Harwood In Céline SARL v Céline SA, the European Court of Justice (“ECJ”) considered a reference from the French Court of Appeal in relation to use of a term as a company name and whether it could amount to trade mark infringement.	When Is Trade Mark Use ‘Genuine’? Stephenson Harwood The recent judgment of the Court of First Instance (CFI) in La Mer Technology Inc v the Office for Harmonization in the Internal Market (OHIM) examines in considerable detail the issue of what use amounts to sufficient proof of ‘genuine use’ of an earlier trade mark for the purposes of being able to rely on that mark to oppose a third party’s Community trade mark application.
EEOC Issues Guidance On Employment Of Veterans With Service-Related Disabilities Bracewell & Giuliani LLP On February 29, 2008, the Equal Employment Opportunity Commission (EEOC) issued two question-and-answer guides – one for employers and one for veterans – on workplace issues affecting veterans with service-connected disabilities.	Section 11 Orders Unfair Davies Ward Phillips & Vineberg Industry Minister Jim Prentice's probe into the Competition Bureau's use of Section 11 orders in its investigation of the Labatt/Lakeport merger provides a welcome opportunity for the Bureau to restore a greater degree of balance and fairness to its investigations.
Maintaining The Status Quo - Record Royalties: Protecting And ClaimingYour Share 11 Stone Buildings In the sixties and seventies bands were formed with much less formality than they are these days. Recording royalties were a major source of income and bands with proven success commanded large advances and increasingly generous royalty shares.	‘Quality Of Life’ Major Factor In Attracting New Business Isle of Man Finance What makes the Isle of Man so special a place to work? Low tax, quality services and space to expand?
UK GAAP - Distributable Profits Smith & Williamson UK legislation only permits companies to pay dividends out of profits available for distribution, i.e. those that are realised profits, in accordance with generally accepted accounting principles.	UK GAAP - Companies Act 2006 Update Smith & Williamson As discussed in previous Financial Reporting newsletters, while the Companies Act 2006 (the Act) received Royal Assent on 8 November 2006, many of its provisions are yet to be enacted.
Financial Reporting - IFRS Proposed Amendments To IFRS 2 And IFRIC 11 Smith & Williamson Guidance has been published which aims to clarify how the existing requirements of IFRIC 11 and IFRS 2 should be applied in certain circumstances.	Brewing Up A Storm: Canada’s Competition Bureau Loses – Twice Davies Ward Phillips & Vineberg January 2008 was not a great month for Canada’s Competition Bureau. It suffered two stinging setbacks in decisions issued by the Federal Court of Canada, both relating to the Bureau’s review of Labatt’s acquisition of another Canadian beer company, Lakeport Brewing.
FRB Issues Opinion Letter To Investment Adviser Seeking To Have Affiliated Funds Invest In Up To 15% Of Voting Stock Of Banking Organization Goodwin Procter LLP The FRB issued an opinion letter to a registered investment adviser (the "Applicant"), advising that it may acquire through a variety of customer accounts and investment funds (together, the "Investors") up to fifteen percent of any class of voting securities of a bank holding company or bank (each, a "Banking Organization") without being deemed to have acquired "control" of the Banking Organization under the Bank Holding Company Act ("BHC Act"), the Change in Bank Control Act ("CIBC Act"), or t	Revision Of Law On Foundations – Main Contents Of The Government Bill Report And Application No. 13/2008 Allgemeines Treuunternehmen On 19 February 2008 the Report and Application by the Government concerning the total revision of the law on foundations was approved by the Government and adopted by the Parliament of the Principality of Liechtenstein.
Financial Reporting - IFRS First-Time Adoption – The Impact On Aim Interim Reports Smith & Williamson Aim Rule 18 sets out what Aim companies must include in their interim reports. In addition, the newly updated Accounting Standards Board’s (ASB) statement on ‘Half Yearly Financial Reports’ and IAS 34 ‘Interim Financial Reporting’ both provide best practice guidance as to additional disclosures.	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 Asbill & Brennan 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 Asbill & Brennan 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.