The Supreme Court’s decision in Sevilleja v Marex Financial Ltd [2020] UKSC 31 of 15 July 2020 provided much needed clarity on the scope of the rule against “reflective loss”.
In Uralkali v Rowley and another [2020] EWHC 3442 (Ch) – a UK High Court case relating to the administration of a Formula 1 racing team – an unsuccessful bidder for the company's business and assets sued the administrators, arguing that the bid process had been negligently misrepresented and conducted.
The court found that the administrators did not owe a duty of care to the disappointed bidder. It rejected the claimant's criticisms of the company’s sale process and determined that the administrators had conducted it "fairly and properly" and were not, in fact, negligent.
In Uralkali v Rowley and another [2020] EWHC 3442 (Ch) – a UK High Court case relating to the administration of a Formula 1 racing team – an unsuccessful bidder for the company's business and assets sued the administrators, arguing that the bid process had been negligently misrepresented and conducted.
The court found that the administrators did not owe a duty of care to the disappointed bidder. It rejected the claimant's criticisms of the company’s sale process and determined that the administrators had conducted it "fairly and properly" and were not, in fact, negligent.
While there has been much fuss over the recent ruling by the United States District Court for the Southern District of New York in In re Nine West LBO Securities Litigation1 due to its potential ramifications for director liability, as we explored in Part I of our series on this case here, court watchers have paid less attention to the court’s treatment of officer liability and the interes
Doing business in the United States
2021
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Hogan Lovells
Doing business in the United States 2021
3
Contents
Introduction1
I.Openness of U.S. markets to foreign investment
2
II.Direct or indirect market entry and choice of entity
8
III. Commercial contracting
20
IV.Labor and employment law considerations
26
V.Immigration laws
34
VI.Intellectual property laws
40
VII. Export control and economic sanction laws
46
VIII. U.S. antitrust laws
56
Following the entering into force of the Dutch Scheme on 1 January this year, allowing for court confirmation of private restructuring plans, the Dutch legal toolbox for national and international restructurings has become even more diverse. This development forms part of a broader trend in the Dutch legal framework to facilitate effective restructurings of businesses, in which context one of the key techniques is the enforcement of share security, including through credit bidding.
Introduction
The concept of winding up does not exclusively apply to insolvent companies. Solvent companies can also be wound up, on the initiation of the company’s directors and shareholders (for example, as part of a corporate reconstruction or to close down non-operating or redundant entities).
An overview of the two key procedures to effect the dissolution of a solvent Australian company, being Members’ Voluntary Liquidation and Deregistration, is set out below.
Recent regulatory developments of interest to all financial institutions. Includes key COVID-19 updates from the UK FCA, AML/CTF updates and more.
COVID-19: FCA statement on handling of post and paper documents
On 13 May 2020, the Financial Conduct Authority (FCA) published a statement on how firms should handle post and paper documents during the COVID-19 pandemic.
The epidemiological outbreak of COVID-19 has collapsed the international health systems and provoked huge economic losses to global economies. For these reasons, countries affected by COVID-19 have adopted sanitary and economic measures to reduce the spread and negative impact to its economies.
On May 8, 2020, the Supreme Court of Canada (the "SCC") released its reasons for the ruling rendered on January 23, 2020, which allowed the appeal by 9354-9186 Québec Inc. and 9354-9178 Québec Inc. (collectively, "Bluberi")[1]. The SCC's ruling set aside the Québec Court of Appeal's (the "Court of Appeal") ruling, thereby restoring the first instance judgment of the Superior Court of Québec ("Superior Court").