Introduction
Corruption allegations have blossomed as an area of interest in international arbitration since at least 2006, when an International Centre for Settlement of Investment Disputes tribunal found that a claimant s conduct in procuring an investment contract through bribery was sufficient as a matter of law and international public policy to render any claim under that contract unsustainable (World Duty Free versus Kenya). Since then, numerous other published awards have shown that states are increasingly relying on allegations of corruption to defend treaty and commercial claims. Despite this trend, no established approach exists for the standard of proof that applies to such allegations. However, recent awards, such as that rendered in Vale versus BSG Resources Limited, show that while corruption is always a serious accusation, the standard of proof applicable in arbitration should be no higher than the standard required in other civil cases.
The Northern District of Illinois recently declined to stay an action for declaratory relief relating to an insurance coverage dispute arising out of the ongoing <i>Clearview</i> litigation. The court held that the determination of whether an insurance policy applied did not require the resolution of facts relating to the policyholder's alleged violations of Illinois's Biometric Information Privacy Act.
Introduction
The concept of a core investment company (CIC) was first introduced by the Reserve Bank of India (RBI) in 2010. While, at that time, the RBI clarified that companies which invest in shares of other companies, even for the purpose of holding a stake in such company, should be regarded as carrying on the business of a non-banking financial institution, it specifically acknowledged that such class of non-banking financial institution should be afforded differential treatment. This led to the introduction of a differentiated framework for CICs – the main points of difference being the substitution of the capital to risk-weighted assets ratio (as applicable to non-banking financial companies (NBFCs)) with different capital requirements and an exemption from the rules on investment and credit concentration.
Unfortunately, it is not uncommon for third parties to try and trick others into paying a large sum for specific services, even in the IP field. If an IP owner receives a letter or invoice from an unknown party, it should check what is being offered and whether the source is trustworthy.
A recent Supreme Court decision regarding compulsory vaccination has sparked debate about employers' rights to request that their employees be vaccinated. The Supreme Court declared that COVID-19 vaccination in Brazil is mandatory. However, the authorities cannot directly force adults to be vaccinated against their will. It is likely that the majority of Brazilians will be vaccinated by the end of 2021, so employers should consider implementing internal vaccination policies as soon as possible.