Agreement in Principle
As highlighted in prior posts here and here in 2016 hedge fund Och-Ziff resolved a $412 million Foreign Corrupt Practices Act enforcement action concerning improper business practices in various African countries.
On September 30, 2019, U.S. Customs and Border Protection (CBP) issued five Withhold Release Orders (WROs). CBP issued a statement that the WROs were based on information obtained and reviewed by CBP that indicated that the products are produced, in whole
The African Commission on Human and Peoples’ Rights has issued a decision to hold the government of the Democratic Republic of the Congo responsible for the massacre of over 70 people in Kilwa, recommending: i) that the government provide compensation
In a ruling today, Judge Englemayer found that Themis Capital and Des Moines Investments’ attempt to collect long-owed debt from the Democratic Republic of the Congo (the “DRC”) and the Bank of the DRC is not barred by New York’s
In Triple A International, Inc. v. The Democratic Republic of the Congo, the Sixth Circuit held that the Republic of the Congo was immune from suit under the Foreign Sovereign Immunities Act. Triple A, a Michigan corporation, sold over $14
On May 30, the Division of Corporation Finance of the Securities and Exchange Commission issued responses to frequently asked questions regarding the disclosure of conflict mineral usage and payments by resource extraction issuers that is required by rules adopted pursuant
On August 22, 2012, the SEC adopted its final rule related to conflict minerals required by Congress under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), which will require all public companies to implement complex new controls and
On August 22, the Securities and Exchange Commission adopted a final rule implementing disclosure and reporting requirements regarding the use by issuers of conflict minerals from the Democratic Republic of the Congo (DRC) and adjoining countries (collectively, the Covered Countries)
The SEC approved today two disclosure rules that are required by Dodd-Frank: (1) the conflict minerals rule and (2) the resource extraction issuer rule.(1) The conflict minerals rule requires companies to publicly disclose their use of conflict minerals that originated in the
