Corporate & Commercial

By Adam Streisand on August 20, 2018

As a battle rages on in Nanterre, west of Paris, over the estate of Johnny Hallyday, who is best known as the “French Elvis”, and spills out across the pages of the tabloid press in France, we offer a view from Hallyday’s adopted home, Los Angeles, California. It is, after all, the central question of this affair whether a will and trust executed in California under California law, which was intended to dispose of assets…

Free Writings + Perspectives

Seminar: 1st Annual Executive Compensation University

By Trevor Starer on August 20, 2018

Thursday, October 4, 2018 8:00 a.m. – 8:30 a.m. Registration & Breakfast 8:30 a.m. – 4:30 p.m. Program 4:30 p.m. – 5:30 p.m. Cocktail Reception Location Mayer Brown 71 South Wacker Drive Chicago, IL 60606 Please join Mayer Brown in Chicago for our 1st Annual Executive Compensation University. During this full-day program, we will explore tax and securities issues impacting executive compensation and hear from leading Mayer Brown lawyers about the changing regulatory landscape as…

Winstead Business Divorce

Be Careful With the Rotten Egg: Removing a Bad Business Partner From the Company is Difficult

By Winstead on August 20, 2018

By Brad Monk and Ladd Hirsch People change, and not always for the better. Which leads to the question: what is the best course of action when a trusted business partner turns out to be a rotten egg? The answer is not easy, but usually the best course of action is to promptly remove an untrustworthy partner from ownership in the business and also from participation in the company’s management. Removal Provisions Need to be…

Family Business Resource Center

Employment Laws to Keep in Mind for Family Business Owners

By Davis Wright Tremaine on August 20, 2018

There is often a temptation for small and mid-sized family-owned businesses to disregard employment laws, particularly when considering a family member’s employment, but those laws generally do not have an exemption for family members. A business’ relaxed approach with respect to family members can also easily spill over to non-family member employees. All of this is to say that it is essential that every family business owner be familiar with federal, state, and local employment…

Briefing: Governance

Senator Warren’s Accountable Capitalism Act Modeled on the Public Benefit Corporation

By Ning Chiu on August 20, 2018

The Accountable Capitalism Act, introduced by Senator Warren, would require companies with more than $1 billion in revenue to obtain federal charters from a newly formed Office of United States Corporations at the Department of Commerce. As explained in a WSJ op-ed, Senator Warren is concerned that companies have shifted to focusing solely, or largely, on being accountable to shareholders through maximizing returns for owners. Under the federal charter, directors of these companies must…

Hunton Retail Law Resource

Trend Setter? Massachusetts Bans Noncompetes for Nonexempt Workers

By Robert T. Dumbacher & Reilly C. Moore on August 20, 2018

The increase in the use of noncompetition agreements in industries such as retail and food service has caught the eye of several state legislatures, and they are beginning to take measures to curb the trend.

Executive Compensation Law Blog

“Airing Out the Denny Crane Room”: Recent SEC Action Emphasizes Need for Effective Disclosure Controls and Procedures for Executive Perquisites

By Robert Wernli, Jr., Gregory Schick, Arek Malinowski & Seth Lemings* on August 20, 2018

Last month, Energy XXI, Ltd. (“EXXI”), a publicly-traded oil and gas exploration company, saw its former Chief Executive Officer charged with various securities law violations by the Securities and Exchange Commission (“SEC”). The SEC seeks to have the CEO pay civil money penalties and be barred from any officer or director role with any issuer of registered securities.…

eSQUIRE Global Crossings

The Ever-Shrinking Chapter 11 Case

By Norman Kinel on August 20, 2018

Most observers of the world of chapter 11 bankruptcy cases – and particularly those professionals who practice in that arena – will not be surprised to learn that their individual experiences and anecdotal reports suggesting that the duration of Chapter 11 cases has continued to shrink have been validated by Fitch Ratings, one of the “big three” credit rating agencies. Fitch’s August 7, 2018 report, entitled “Shrinking Length of U.S. Bankruptcies,” provides many useful statistics…

Texas Employment Law Update

Austin Court of Appeals Temporarily Enjoins Austin Sick Leave Ordinance

By Russell Cawyer on August 20, 2018

Earlier this year, the City of Austin passed the first local ordinance requiring employers in Austin to provide paid sick leave to its employees. The law was scheduled to take effect on October 1, 2018. Late last week, the Austin Court of Appeals issued a temporary stay of the ordinance while the Texas Association of Business’ interlocutory appeal of the trial court’s denial of an application for temporary injunction is heard. This will likely stay enforcement of the…

Trade and Manufacturing Monitor

Bans on Imported Waste Continue in Southeast Asia

By Kathleen Cusack on August 20, 2018

On August 16, 2018, Reuters reported that Thailand plans to ban imports of a variety of scrap electronics within the next six months and recycled plastic within the next two years. The Thai Minister of Natural Resources and Environment, Kanchanarat, cites environmental and health concerns as the reason for the ban. While some repairable appliances, such as telecommunication devices, will continue to be allowed to enter the country, 432 types of electronic waste, such as…