The BLG Monthly Update is a digest of recent developments in the law which Neil Guthrie, our National Director of Research, thinks you will find interesting or relevant – or both.
On January 20, the DOL made its semiannual regulatory agenda and regulatory plan statement available on its website. The regulatory agenda is the list of regulations the DOL expects to have under active consideration for promulgation, proposal or review during the following 6 to 12 months.
The Bankruptcy Protector
Privacy issues implicate several Bankruptcy Code sections and Bankruptcy Rules. The debtor must also comply with non-bankruptcy rules concerning privacy to the extent that such rules are not inconsistent with the Bankruptcy Code. 28 U.S.C. § 959(b).
With international trade rarely making the news in this era of stable foreign relations and respectful international dialogue, you can be forgiven if you are unaware that Canada has entered several trade agreements that require it to protect trade secrets. But can Canada be forgiven for never actually enacting trade secret legislation? Maybe we can because of Canada’s substitute: the common law action for “breach of confidence”.
The next few years are expected to see a significant increase in the volume of bankruptcy cases filed by health care providers. Thus far in 2017, the number of bankruptcies in health care-related sectors, including hospitals, physicians’ offices and clinics, specialty outpatient facilities, assisted-living facilities, and other providers, has been surpassed only by bankruptcies in the oil and gas, finance, and retail industries.
In a recent decision, In re Orexigen Therapeutics, Inc., No. 18-10518 (KG) (Bankr. D. Del. Nov. 13, 2018), Judge Kevin Gross of the United States Bankruptcy Court for the District of Delaware held that the mutuality requirement of section 553 of the Bankruptcy Code must be strictly construed, declining to find mutuality in a triangular setoff between the debtor, a parent entity that owed the debtor money, and that entity’s subsidiary, which was a creditor.