Corporate & Commercial

April 22, 2021

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The Securities and Exchange Board of India (“SEBI”), through its interpretive letter, issued upon the request of Paytm Money Limited (“Paytm”) under the SEBI (Informal Guidance) Scheme, 2003 (“Informal Guidance Scheme”), on April 09, 2021, has clarified that investment advisers (“IAs”), registered with SEBI under the SEBI (Investment Advisers) Regulations, 2013 (“IA Regulations”), may not: (i) be reimbursed from the asset management companies for any expenses incurred for services rendered to their clients, even though…

ADR & Conflict Management Strategies

TEMPORARY OR PARTIAL IMPRACTICABILITY AND FRUSTRATION OF PURPOSE AND PANDEMIC AFFECTED CONTRACTS AND LEASES

By Frank Burke

April 22, 2021

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The Restatement 2d of Contracts, adopted in 1981, added concepts of temporary and partial impracticability and also restitution or reliance damages to ameliorate loss. While traditional application of such doctrines would lead to a finding that the contract automatically terminates, other cases state that if the frustration or impracticability is only temporary, then so is the hold on obligations (i.e. paying rent on office space when local ordinance forbids non-essential office use). This will obviously…

You Might Be a Winner

Resorts World Las Vegas to Open June 24th

By LexBlog Admin

April 21, 2021

The first resort casino to open on The Strip in ten years is ready to go! Resorts World Las Vegas is a $4.3 billion resort affiliated with the Hilton Hotels brand. Crews worked through the coronavirus pandemic to finish. Reservations began this week for the 3,500 room destination, which will boast 40 food outlets, plus 70,000 square feet of retail, and a 117,000 square foot casino floor. Most importantly, though, it will add about 5,000…

The D&O Diary

Guest Post: Changes in ESG-Related D&O Risk in a New US Presidential Administration

By Kevin LaCroix

April 21, 2021

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Though we are still early on in the Biden Administration’s tenure, it is already clear that ESG-related issues have emerged as a important point of focus and emphasis for the Administration. In the following guest post, John M. Orr, Directors & Officers Liability Product Leader for Willis Towers Watson, takes a look at a number of the important implications of the Administration’s ESG focus. A version of this article previously appeared on the Willis Towers…

The Antitrust Attorney Blog

Deferred Prosecution Agreements and Effective Compliance Programs in the Antitrust World: The New Married Couple

By Bona Law PC

April 21, 2021

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Authors: Luis Blanquez and Jon Cieslak Deferred prosecution agreements (“DPAs”) in the antitrust world have been a hot topic on this side of the Atlantic during the past two years. DPAs seem to be slowly becoming an efficient instrument for the Department of Justice to tackle antitrust conspiracies, and we expect this trend to continue. What is a DPA? A DPA is a legal agreement between a prosecutor and a defendant where the former eventually…

International Trade Insights

Petition Summary: Raw Honey from Argentina, Brazil, India, Ukraine, and The Socialist Republic of Vietnam

By Turner Kim

April 21, 2021

On April 21, 2021, the American Honey Producers Association and Sioux Honey Association (“Petitioners”), filed a petition for the imposition of antidumping duties on imports of raw honey from Argentina, Brazil, India, Ukraine, and the Socialist Republic of Vietnam.…

India Corporate Law

“A predicate offence is the sine qua non for the offence of money laundering” – IS IT REALLY?

By Ankoosh Mehta, Sanika Gokhale & Divya Behl

April 21, 2021

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1. INTRODUCTION The Prevention of Money Laundering Act, 2002 (“PMLA”) has proven to be a revolutionary legislation and is certainly one of its kind. The nature of the statute and the utmost necessity that it be enforced in a manner that fulfils the legislative intent thereby creating economic security as well as the nation’s requirements have resulted in wide powers being granted to the Enforcement Directorate (“ED”). Although there are significant judgments that have set…

Minding Your Business

Bioplastics: Snickers® Candy Bars Have It Wrapped Up

By Michelle M. Ovanesian

April 21, 2021

A team of researchers from Yale University, the University of Maryland and the University of Wisconsin-Madison just published a study on a durable, biodegradable plastic alternative made 100% of wood. This study is just one example of the advent of a new generation of biobased plastics or bioplastics, a term broadly referring to products made from organic matter that have the same properties as “ordinary” plastic. The attractiveness of bioplastics is due to their…

White Collar Law & Investigations

Watch Now: ESG – What You Need to Know About the Rapidly Evolving Disclosure Landscape

By Foley Hoag

April 21, 2021

As anticipated, the pace of change around the Climate and broader ESG landscape is accelerating rapidly. In this timely webinar, we discussed: The multiple market developments leading towards a rationalized corporate reporting system The role of the board and governance around the ESG agenda Practical steps to navigate the changing ESG landscape Speakers: Matthew Miller, Partner, Foley Hoag LLP Kristen Sullivan, Partner, Sustainability Reporting, Assurance and Compliance Leader, Deloitte & Touche LLP The…

Retail & Consumer Products Law Observer

Website Wars: Eleventh Circuit Rules in a Split Decision That Websites are Not Public Accommodations for Purposes of the Americans With Disabilities Act

By Thomas P. Gies, Eric Su, Ira Saxe & Rachel Lesser

April 21, 2021

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After more than two years of deliberation, the Eleventh Circuit issued its decision in Gil v. Winn-Dixie on April 7, 2021. Writing for the majority, Judge Elizabeth Branch reversed a trial court decision and found that Winn-Dixie’s website, which is incompatible with screen reading software used by the plaintiff, who is blind, did not violate Title III of the Americans with Disabilities Act (“ADA”). In doing so, the court’s opinion in this closely-watched case advances…