International

Finance

Italy: “Solidarity Contribution” Reducing Pensions for Five Years Ruled Unconstitutional

(Jan. 8, 2021) On November 9, 2020, Italy’s Constitutional Court declared unconstitutional a provision in the country’s budget act for the years 2019 to 2021 that reduces certain pensions for a period of five years. (Decision No. 234 of November 9, 2020  (in Italian).) Pensions Reduced Under Budget Law’s “Solidarity Contribution”...

Qatar: New Cabinet Resolution Regulating Real Estate Ownership by Foreign Nationals

(Jan. 5, 2021) On October 6, 2020, Qatar’s Ministry of Justice announced the establishment of the Office for Non-Qatari Real Estate Ownership. The main objective of this office is to provide foreign nationals who want to reside or invest in the state of Qatar with all the necessary requirements for the purchase and sale of […]Read More

Italy: Government Decrees Further Measures to Fight the Covid-19 Pandemic

(Dec. 30, 2020) On November 30, 2020, Italy’s government issued Decree-Law No. 157, which includes further measures to tackle the Covid-19 pandemic. Extension of Terms for the Payment of Certain Taxes The new legislation extends, until December 10, 2020, the term for the payment of income taxes and IRAP (a regional tax for productive activities)...

Algeria: National Bank Officially Launches Islamic Banking

(Nov. 23, 2020) On August 4, 2020, Algeria’s National Bank officially launched Islamic banking as the first state-owned bank to practice Islamic banking services in Algeria. The launching of Islamic banking on the level of state-owned banks is in accordance with the government’s efforts to establish a more effective and diversified national...

Ecuador: Humanitarian Support Law Enacted to Address COVID-19 Economic Emergency

(Sept. 21, 2020) The Organic Law on Humanitarian Support, enacted on June 22, 2020, declares COVID-19 an economic emergency in Ecuador and seeks to mitigate the health, economic, and social crises it has caused. The Law includes a provision on the termination of employment relationships due to unforeseeable circumstances or a force majeure. Other key...

Legal

Beware: The Report Expressly Prepared for Trial Counsel May Not Be Privileged After All

In this article for the Consumer Privacy World Blog, John Burlingame and Kristin Bryan discuss a recent federal district court decision which calls into question the application of attorney work-product privilege to work-product prepared by consultants in anticipation of litigation.… Continue Reading The post Beware: The Report Expressly Prepared...

Israel: Supreme Court Voids Law Legalizing Settlements Built on Unauthorized and Privately Owned Land in West Bank

(July 14, 2020) On June 9, 2020, the Supreme Court of Israel, sitting as a High Court of Justice, ruled 8–1 to accept a petition against the constitutionality of the Law on the Regulation of Settlement in Judea and Samaria, 5777-2017 (Feb. 13, 2017). The majority opinion was rendered by Court President Justice Esther Hayut, […]Read More

China: Revised Land Administration Law Takes Effect

(Feb. 20, 2020) On January 1, 2020, the newly revised People’s Republic of China (PRC or China) Land Administration Law (Land Law) went into effect. Previously, on August 26, 2019, the Standing Committee of the National People’s Congress had adopted a comprehensive amendment to the country’s primary land law. According to the official...

United States: New York State Appellate Court Upholds Order for Return of Nazi-Looted Art

(Aug. 22, 2019) On July 9, 2019, the New York Appellate Division upheld a lower court’s decision ordering defendant Richard Nagy to return two pieces of art to the heirs of Fritz Grunbaum, a Jewish Viennese performance artist and art collector who was imprisoned and murdered by Nazis during the Holocaust. (Reif v. Nagy, No. […]Read More

New Zealand: Trusts Bill Passed

(Aug. 15, 2019) On July 24, 2019, the Trusts Bill was passed by the New Zealand Parliament. The Bill, which was introduced in August 2017, replaces the Trustee Act 1956 and Perpetuities Act 1964 and seeks to provide a “clear, modern statement of the law relating to trusts.” The Minister of Justice, Andrew Little, stated that […]Read...

Deals

2020 MAC Survey

Nixon Peabody recently posted its 2020 MAC Survey, and the results suggest that the terms of MAC clauses continue to move in a buyer-friendly direction. Here’s an excerpt: Of the 220 agreements surveyed, 97% contained a material adverse change in the “business, operations, financial conditions of the Company” as a definitional element. This is...

Antitrust: How Aggressive Will the Biden FTC Be?

This Fried Frank memo discusses managing antitrust risk in the Biden Administration. After noting that regulators have evolved toward more enforcement & have demonstrated a greater willingness to tolerate litigation risk in recent years, the memo suggests that because antitrust enforcement is one of the few truly bipartisan issues, the new Administration...

Controllers: Viva Zapata! Del. Chancery Refuses to Dismiss WeWork Lawsuit

This may sound strange to most of you, but when I took Corporations in the fall of 1984, corporate law was kind of a sleepy backwater.  Of course, the area awoke with a vengeance in 1985, but when I took the class, Van Gorkom, Moran, Unocal, Revlon, etc. weren’t even on the radar screen. In […]Read More

Busted Deals: What If LVMH & Tiffany Went to Trial?

Last year’s dispute between LVMH and Tiffany raised all sorts of intriguing legal issues, but the parties ultimately settled their case before the Chancery Court could weigh-in.  But what if that case had gone to trial? That’s the hypothetical situation that UCLA’s Stephen Bainbridge recently addressed on his blog. After concluding...

Officer Liability: Recent Trends

Over the past several months, I’ve blogged about several decisions involving potential liability on the part of corporate officers.  Frequently, these cases involve situations in which corporate directors have managed to avoid liability due to exculpatory charter provisions that don’t extend to corporate officers.  This Skadden memo reviews...

Acq Lite

At World’s Biggest Dog Show, Pups That Give New life to Disabled Owners

EDITOR’S NOTE: This news is courtesy of iCopyright, so GNN has no control over the ads. Please remember we do not endorse the advertisements. The post At World’s Biggest Dog Show, Pups That Give New life to Disabled Owners appeared first on Good News Network. Read More

Stranger Sets Off Incredible Chain of Good Deeds That Saved 6 Lives

Six lives were saved at a hospital this week, and it is all thanks to one woman's decision to “be selfless for a day”. The post Stranger Sets Off Incredible Chain of Good Deeds That Saved 6 Lives appeared first on Good News Network. Read More

10 Things I Wish I Would Have Told My Kids

Mindfulness is the ability to pay attention to your current experience—both the internal and external—without judgment. Practicing mindfulness allows us to make wiser choices and pursue healthier and more beneficial avenues in life. Had I learned them earlier in life, I would have taught my kids the valuable life lessons that I’ve gleaned from...

DIY or Die: How an Industrious Outback Nurse Diagnosed His Own Heart Attack and Stayed Alive

The nurse was stationed at his medical outpost 100 miles away from the nearest hospital when he realized that he was about to have a heart attack. The post DIY or Die: How an Industrious Outback Nurse Diagnosed His Own Heart Attack and Stayed Alive appeared first on Good News Network. Read More

Daily Dose of Cute: Dachshund Shows Off Skills by Maneuvering Maze of Plastic Water Bottles

If you’re mourning the end of the Winter Olympic Games in Pyeongchang, you might like these games of skill involving a long-haired Dachshund. Takao showed off his thinking abilities earlier this week when he successfully maneuvered a maze of plastic water bottles that was erected by his owner. In the videos posted to his Instagram page, the...