Page 9 - Law Developments News Today

A commonly negotiated provision in M&A transactions is the clause that provides for the buyers indemnity right, which, among other things, applies in relation to the liabilities of the target whose existence is based on a past event prior to the closing of the deal. This clause aims to limit the liability of the parties involved in the transaction for losses relating to the company or the asset traded and can be structured in several ways. Facts A relevant decision by the Sao Paulo Court of Ju...

Although the principles which constitute conventional wisdom are intended to be universal and are theoretically esteemed for their acceptability, international arbitration practice shows that despite a general consensus as to the formulation of certain principles, the perception of the way in which they should apply is likely to be influenced by the background of the party representatives or arbitrators.(1) Legal backgrounds The legal background of an arbitrator or counsel often influences the...

In a long-awaited court ruling, the European Court of Justice (ECJ) confirmed that the Belgian rules on dock work, obliging companies to have only recognised dockers carry out dock work in ports, do not necessarily constitute a violation of the free movement of workers, the freedom of establishment and the freedom to provide services. However, the ECJ rejected several parts of the recognition procedure of such dockers. Legislative changes are now inevitable.

On 16 December 2020 the National Council for Private Insurance (CNSP) – the Brazilian entity in charge of policy making for the reinsurance sector – issued CNSP Resolution 396/2020. The resolution introduces into the Brazilian market special purpose local reinsurers (SPLRs) and insurance-linked securities (ILS), to be issued by SPLRs. Background The resolution, which was issued after a long discussion with market players, dating from 2018, and after two sets of public consultations (Public...

Introduction On 15 February 2021 the Federal Court of Appeal dismissed an appeal of the Federal Courts trial decision in Loblaws Inc v Columbia Insurance Company (2019 FC 961). Pampered Chef, a Berkshire Hathaway company and a world leader in premium kitchenware products, had previously successfully defended a claim brought by Canadas largest retailer, Loblaws, for: trademark infringement; dilution and depreciation of goodwill. The claim concerned Pampered Chefs use of a trademark that include...

Over the next few years, some of the best-known biologic medicines will lose patent protection, paving the way for biosimilar medicines to enter the UK market. This article discusses some innovative IP strategies which may be available in the United Kingdom to successfully compete and overcome barriers to market entry. Biologic and biosimilar medicines Biosimilars are medicines that seek to compete with, and are similar to, originator biologic products. Biologics contain active substances that ...

What is an advance healthcare directive? An advance healthcare directive is also known as a living will. Although not a new concept, it is newly recognised in the Cayman Islands. In 2019 the Health Care Decisions Act was implemented in the Cayman Islands. This law allows individuals to determine their wishes surrounding medical care and treatment, including end-of-life care, should they become mentally incompetent, and prepare a legal document to this effect. The legal document outlines preferr...

The Biden administration has hit the ground running, issuing a flurry of executive orders, actions and memoranda with sweeping implications affecting a wide range of key issues. Companies should look internally and evaluate risks with particular consideration for administration priorities. This risk assessment can help to inform updates to compliance protocols. This article discusses where the administration is likely to focus its civil and criminal enforcement efforts in the months and years ah...

The long-running Carlyle case recently came to an end when the parties reached a non-confidential settlement. The case arose from the March 2008 collapse of Carlyle Capital Corporation Ltd, a Guernsey fund which invested mainly in residential mortgage-backed securities issued by US government-sponsored entities Fannie Mae and Freddie Mac. The case is of particular relevance now during the COVID-19 pandemic, which will likely lead to more fund collapses.

Changes are afoot for key industry sectors with complicated global supply chains. According to President Biden, the COVID-19 pandemic "has made clear, we can never again be in a position where we have to rely on a foreign country that doesnt share our interest in order to protect our people during a national emergency". Thus, on 24 February 2021 Biden signed the long-awaited Executive Order (EO) on Americas Supply Chains, which initiates a 100-day process of reviewing and assessing the strength...