ExxonMobil is suing the EU in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy, the Irish Times reported. The lawsuit is the most significant response yet against the tax from the oil industry, which has been targeted by western governments amid a surge in energy prices following Russia’s invasion of Ukraine.
Employees who work overseas for U.S.-based companies are not protected by a federal law prohibiting retaliation against whistleblowers who raise concerns about violations of securities laws, a U.S. appeals court ruled on Friday, Reuters reported. A unanimous three-judge panel of the U.S. Court of Appeals for the D.C. Circuit rejected a bid by Christopher Garvey, a former top Asia-based lawyer for Morgan Stanley, to revive claims that he was forced to resign in 2016 after reporting alleged illegal activities that predominantly occurred outside the U.S.
To facilitate the ongoing process to sell its businesses, DCL Corporation (DCL or the Company), a leading manufacturer and reseller of color pigments, announced that on Dec. 20, its U.S.-based subsidiaries filed voluntary petitions for a court-supervised reorganization under chapter 11 in the U.S. Bankruptcy Court for the District of Delaware, according to a press release. Contemporaneously, the company and its Canadian subsidiaries have also commenced court-supervised restructuring proceedings in Canada under the Companies' Creditors Arrangement Act, R.S.C. 1985, c.