Takata Corporation is a Japanese based company that manufactures safety products, primarily airbags and seat belts, as a tier one supplier to the global auto industry. Unfortunately, due to alleged defective airbags produced, Takata has recalled reportedly 122 million airbags globally, with a projected cost of $12 billion.

Advance notice bylaws are a near universal feature of the organizational documents of public companies. In their simplest form, they set a deadline, usually between 60 and 120 days before an upcoming stockholder meeting, by which a stockholder must give notice to the company of its intention to nominate director candidates and identify those nominees. Delaware courts have repeatedly upheld the validity of these provisions holding that they are “useful in permitting orderly shareholder meetings”.

The purpose of a sales contract is to define the parties’ obligations and to optimise outcome if a dispute arises. As such, a contract is a tool to manage risk and prevent loss.

In an increasingly digital world, online information can be used in due diligence to analyze CPG brands and subsequent consumer loyalty. Brand equity drives value at purchase and with the significant increase in information sharing, it’s critical to leverage all digital touchpoints to validate your investment thesis on the brand. Click here for more

IRS Issues Proposed Regulations on “Device” and “Active Trade or Business” Rules Under Section 355 Background and Executive Summary On July 14, 2016, the Internal Revenue Service and the U.S. Treasury Department issued proposed regulations that are designed to limit taxpayers’ ability to engage in tax-free distributions under Section 355 in situations where either the distributing corporation or the controlled corporation, or both, holds a disproportionally large amount of non-business assets (such as cash or a minority position in another corporation) in comparison to its business assets.

Welcome to issue 17 of Restructuring Global Insight, bringing you reports on breaking legal developments in restructuring law across borders and in jurisdictions around the world. Read more.

The Bill n°6929 on reserved alternative investment funds was adopted yesterday by the Luxembourg Parliament and shall come into force three (3) days after its publication in the official Gazette (the "RAIF Law"). The RAIF Law creates an unregulated alternative investment fund called "Reserved Alternative Investment Fund" or "RAIF" similar in its attributes to the renown Luxembourg regulated SIFs and SICARs. RAIFs are therefore not subject to the direct supervision of the Luxembourg financial supervisory authority (Commission de Surveillance du Secteur Financier or "CSSF").

JULY 5, 2016 PROMESA BECOMES LAW: ALL BUSINESSES IN PUERTO RICO WILL BE AFFECTED – KEY POINTS ABOUT THIS SWEEPING RESCUE PACKAGE Read more.

Lehman Bankruptcy Court Holds Provisions in Lehman CDOs Setting Payment Priority Are Enforceable and Protected by Safe Harbor Last week, the U.S. Bankruptcy Court for the Southern District of New York held in Lehman Brothers Special Financing Inc. v. Bank of America National Association, Ch. 11 Case No. 08-13555, Adv. No. 10-03547 (Bankr. S.D.N.Y.

IRS Proposed Regulations Clarify Section 409A Deferred Compensation Issues On June 21, 2016, the IRS proposed clarifying regulations under Section 409A on which taxpayers may immediately rely. Read more.