Corporate & Commercial

July 6, 2020

In the famous case of Meinhard v Salmon, Justice Benjamin Cardozo wrote in lofty language that lawyers of maltreated business owners have loved to quote ever since that the duty of loyalty among closely-held business owners is exceedingly high: “Not honesty alone, but the punctilio of an honor the most sensitive, is . . . the standard of behavior.” Countless published decisions since cite Meinhard. Steeped in morality-laden language (no “morals of the marketplace” here),…

China Law Blog

The Chinese Government is Accessing YOUR Network Through the Backdoor and There Still is NO Place to Hide

By Steve Dickinson

July 6, 2020

The Chinese government and its state controlled banks have worked hard over the last decade to “digitize” financial reporting and procedures. These days, a business operating in China virtually never needs to visit a Chinese government agency office or a bank. Transactions and reporting are done online. For normal daily operations, this means all of the following are done through the Internet: Day to day banking Monthly tax reports Monthly tax and social insurance payments…

Delaware Corporate & Commercial Litigation Blog

Chancery nixes aiding and abetting liability for execs accused of helping set inflated price for NetSuite

By Francis Pileggi

July 5, 2020

This post was prepared by Frank Reynolds, who has been following Delaware corporate law, and writing about it for various legal publications, for over 30 years. The Delaware Court of Chancery recently rejected a creative theory of liability in a shareholder suit that claimed top NetSuite Inc. officers aided a breach of fiduciary duty by agreeing to a conspiracy of silence that caused Oracle Corp. investors to significantly overpay for the smaller technology company in…

The D&O Diary

Concerns About “Going Concern”

By Kevin LaCroix

July 5, 2020

As the pandemic has unfolded, a recession has followed in its wake, as a result of which many companies are struggling. Some will not survive – a number of high profile companies, such as Hertz and Neiman Marcus, have already filed for bankruptcy. Many others have issued financial filings containing a “going concern” disclosure or received an audit opinion with a going concern modification. The government shutdowns and other disruptions that have followed in…

GT Israel Law Blog

Greenberg Traurig Recognized by “Legally Israel 100” In More Areas Than Any Other Law Firm

By Greenberg Traurig

July 5, 2020

We are pleased to announce that in the recently released ranking by Israeli league table Legally Israel 100, Greenberg Traurig’s Tel Aviv office has been recognized in nine categories, more than any other firm recognized in this year’s rankings. These areas include M&A Volume, M&A Value, Real Estate, Litigation, Employment, IP, Capital Markets, Venture Capital/Private Equity and Hi-Tech. These recognitions provide a well-rounded perspective on the firm’s activity in Israel, which has been further…

China Law Blog

So Many New AD/CVD Petitions . . . .

By Adams Lee

July 4, 2020

Earlier this week we summarized the new antidumping (AD) and countervailing duty (CVD) petitions against Twist Ties from China. But also that same week there were four additional sets of new United States AD/CVD petitions filed against the following: Phosphate Fertilizers from Morocco and Russia (filed 6/26/20) Silicon Metal from Bosnia and Herzegovina, Iceland, Kazakhstan, and Malaysia (filed 6/30/20) Standard Steel Wire Mesh from Mexico (filed 6/30/20) Seamless Refined Copper Pipe and Tube from…

Pannone Corporate News and Opinion

Furlough Update: Third Treasury Direction and the recovery of notice payments

By Jack Harrington

July 3, 2020

On 26 June 2020, the Third Treasury Direction was published setting out the mechanics of the changes to the Coronavirus Job Retention Scheme (‘the Scheme’) and dealing principally with the implementation of the ‘flexible furlough scheme’ available from 1 July 2020. However, an amendment to the introduction section of the Scheme as a whole has raised concern over the ability of employers to recoup notice sums paid to employees who are dismissed whilst still on…

Free Writings + Perspectives

Market Trends 2019/20: Cybersecurity Disclosures

By Anna T. Pinedo, Gonzalo Go & Nicole Cors

July 3, 2020

This market trends article identifies cybersecurity risk disclosures that offer detailed discussions on the potential reputational, financial, or operational harm resulting from cybersecurity breaches and the potential litigation or regulatory costs, policies, and procedures in addressing cybersecurity risks. This article concludes with practical advice on how to prepare and enhance the required disclosures on cybersecurity risks and incidents. Continue reading.…

GT Amsterdam Law Blog

EU Opens Consultation on Rules for Transboundary Plastic Waste Shipments

By Marijn Bodelier, Jacomijn Christ & Aonghus Heatley

July 3, 2020

The European Commission has opened a consultation on the adoption of amendments (currently available in draft form) to the European Union’s law on the transboundary shipment of waste. These amendments are intended to allow the EU to give effect to recent changes to the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal (the Convention) which significantly extend the Convention’s scope in relation to plastic waste. The consultation opened…

Chicago Business Litigation Lawyer Blog

Bianca de la Garza Received Millions in Gifts Paid for with Allegedly Stolen Money – Now She’s Being Sued

By Peter S. Lubin & Patrick Austermuehle

July 3, 2020

Last fall, Alden Shoe Co. realized its CFO had allegedly been embezzling millions of corporate funds and transferring them to his own, personal accounts. More than half of what he allegedly stole from the shoe company he is claimed to have used to pay for gifts he gave to Bianca de la Garza, including a car, diamond jewelry, designer clothes and handbags, and investing in her production company, Lucky Gal Productions. Unfortunately, Lucky Gal Productions…