A Statement of Ambition
The Statement is one of ambition, which envisages Scotland as a leading Hydrogen Nation . It is a long term plan, which looks as far ahead as 2050 (when the UK s estimated demand for hydrogen is expected to be around 270TWh) and sets out what Scotland could do to build the hydrogen industry required to meet that demand. There is recognition that Scotland is at the early stages of commercial development and that deployment of hydrogen is a dynamic issue. With this in mind the Statement is to be reviewed as dynamic , responsive and to be regularly reviewed and refreshed by the Scottish Government.
On 18 October 2019 the Milan Tribunal ruled in a case concerning the removal of directors for alleged management irregularities. The tribunal highlighted some important principles regarding companies business continuity, as set out in Article 2086 of the Civil Code, which has been amended by the Crisis and Insolvency Code (Legislative Decree 14/2019).
Pursuant to the new wording of Article 2086 of the Civil Code, entrepreneurs and company directors must ensure that the company has adequate administrative and accounting structures (that fit the company s size and turnover) to allow for a timely assessment of:
any possible crises; or
any risks to the company s business continuity.
On 25 February 2021 Chief Judge Stark of the US District Court for the District of Delaware ruled in favour of Novartis Pharmaceuticals Corporation against the generic defendants Torrent Pharma Inc and Torrent Pharmaceuticals Ltd in
In re: Entresto (Sacubitril/Valsartan) Patent Litigation (MDL No 20-2930-LPS (D Del)). At the conclusion of oral arguments, Stark ruled in Novartis s favour, denying Torrent s motion for judgment on the pleadings of non-infringement of US Patents 8,877,938 and 9,388,134. These patents cover Novartis s Entresto product and its approved use.
Agreeing with Novartis, Stark found that Torrent had not met its burden of clearly proving that no material issue of fact remained to be resolved and that Torrent was entitled to judgment as a matter of law. Rather, Stark found that Novartis had presented plausible theories for infringement and should be permitted to present additional evidence in support of those theories. Stark further found that Novartis had prese
Introduction
The Corporate Transparency Act (CTA) became law on 1 January 2021. Once implementation regulations are issued, the CTA will require certain new and existing US companies to disclose information about their beneficial owners to the US Department of the Treasury s Financial Crimes Enforcement Network (FinCEN). Information collected under the CTA will be held in a national registry of beneficial ownership information, the first of its kind in the United States, established and maintained by FinCEN. The registry will not be available to the public, but FinCEN is permitted to disclose beneficial ownership information in certain circumstances. There are both civil and criminal penalties for violations of CTA requirements. Given that family succession planning structures may include entities established under the laws of a US state, advisers to international families should familiarise themselves with this new disclosure requirement.
or email (omago@omcabogados.com.pe). The OMC Abogados & Consultores website can be accessed at
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