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Cross-Border Update on Investing and Doing Business in the United States

In this Issue: - Indian FDI into the United States - Indian Imports into the United States - Formation of US Subsidiaries - Ownership - Liability of Equity Holders - Management...more

Stay Ahead Of The Curve When Choosing Desired Tax Treatment

A foreigner starting business in the U.S. usually hires attorneys for visas, leases and licenses. The tax advisor comes later, when returns loom. This tendency is unfortunate because entering the U.S. starts the clock for...more

Cayman Islands: Directors' Duties

The Cayman Law Reform Commission has issued a consultation paper on proposed legislative changes that could see a codification of directors’ duties, as is now the case in the UK. While recognizing the existing common law...more

Hong King: Companies Ordinance 2014 and Directors' Duties

A new Companies Ordinance (CO) came into effect in Hong Kong on 3 March 2014, which introduced a number of changes to the law on directors’ duties. ...more

EU Commission Proposes Further Harmonisation of Single-Member Companies

The proposed directive seeks to coordinate national requirements concerning the formation, registration, and operation of single-member companies. On 9 April, the European Commission published a provisional draft of a...more

Delaware Chancery Court Clarifies Delaware Boards’ Fiduciary Oversight Duties as to Corporate Operations Abroad

In 2013, the Delaware Court of Chancery issued three decisions in which it denied motions to dismiss claims for breach of the duty of oversight (i.e., Caremark claims) asserted against directors of Delaware corporations...more

Cartel Fines: Liability of Private Equity Funds

The European Commission has held Goldman Sachs jointly and severally liable for a cartel infringement committed by Prysmian, an Italian cable maker formerly owned by Goldman Sachs’ private equity arm. The decision is a stark...more

Doing Business in Latin America and The Caribbean: The Bahamas

The Commonwealth of The Bahamas is an archipelago spanning 100,000 square miles extending southeast from Florida to northern Hispaniola. The Bahamas has an estimated land area of 5,382 square miles made up of 700 islands ...more

Private Equity Newsletter - Winter Edition 2014: Limited Partner Co-investment Heats Up

It seems that co-investment by limited partners is more popular than ever. According to a recent study by Preqin, 43% of Limited Partners tracked by Preqin are actively seeking co-investment opportunities and 11% more are...more

Board Of Directors Reform: Adopting A New Model For Board Members

It is easy to tie FCPA violations to corporate governance performance. Sometimes the tie is strong – sometimes a little more attenuated. The BIzJet case from last year underscored the importance of proper board...more

New PRC Policies on Annual Inspection

On February 19, 2014 the state-level General Administration for Industry and Commerce (the “AIC“) issued a notice to officially cancel the annual inspection for all types of enterprises including domestic entities,...more

Where O’ Where Is The Board Of Directors?

If you trace the path of an FCPA violation inside an organization, at a minimum, you will see a path of lost opportunities, oversights and omissions. If you see anything different, you may be looking at a deliberate scheme...more

Yaiguaje v. Chevron: Blurring the Lines between Parents and Subsidiaries in Ontario

A recent ruling by Ontario’s highest court clarifying the law governing the enforcement of foreign judgments may turn Canada’s most populous province into an attractive forum for plaintiffs seeking to collect on judgments...more

Successful Strategies For Doing Business In Asia: Singapore

1. What role does the government of Singapore play in approving and regulating foreign direct investment? REGISTRATION REQUIREMENT - Save for the restrictions discussed under Question 5, there is generally no...more

Preparation for 2013 Fiscal Year-End SEC Filings and 2014 Annual Shareholder Meetings

As our clients and friends know, each year Mintz Levin provides an analysis of the regulatory developments that impact public companies as they prepare for their fiscal year-end filings with the Securities and Exchange...more

Further Cause for Alarm for Canadian Corporations with Foreign Operations

We last wrote in July 2013 about Choc v Hudbay Minerals Inc., 2013 ONSC 1414, a decision which seemed to signal an increased willingness by an Ontario court to assume jurisdiction in a case of alleged wrongdoing by a foreign...more

Highlights From 2013 And Implications For 2014

During 2013 shareholder activism continued to surge and impact corporate-decision making. The Delaware courts also handed down several significant rulings during the year. ...more

The Supreme Court Curtails General Personal Jurisdiction Over Foreign Parent Corporations: Daimler AG v. Bauman

On January 14, 2014, the Supreme Court decided Daimler AG v. Bauman, No. 11-965—a closely watched personal jurisdiction case. In an opinion authored by Justice Ginsburg for eight Justices, the Court reversed the Ninth...more

"Inside the Courts: Daimler AG v. Bauman: US Supreme Court Rejects Broad ‘Agency Theory’ of General Jurisdiction"

Today, the Supreme Court of the United States held in Daimler AG v. Bauman, et al. that due process prevents a court from applying an "agency" theory to exercise general personal jurisdiction over a foreign corporation based...more

New regulations extend BVI’s Approved Manager regime to qualifying funds from recognised jurisdictions

The British Virgin Islands introduced a ‘regulation light’ regime for investment managers on 10 December 2012 when the Investment Business (Approved Manager) Regulations 2012 (Old Regulations) came into force. During its...more

Starting A Business In the United States? The Top 6 Things You Should Consider

In addition to the regular business start-up issues, foreign nationals who want to start or expand their businesses in America often find themselves trying to navigate the complicated regulatory scheme that includes...more

Asahi’s Morning Sun – Court Holds Parent And Its Managers May Be Liable For Interfering With Subsidiary’s Contract

Yesterday’s post was intended to set the stage for a discussion of last week’s decision by the Court of Appeal in Asahi Kasei Pharma Corp. v. Actelion Ltd., 2013 Cal. App. LEXIS 1017 (Cal. App. 1st Dist. Dec. 18, 2013). The...more

NASDAQ Amending Compensation Committee Director Independence Requirements

On November 26, 2013, the NASDAQ Stock Market LLC (Nasdaq) filed with the Securities and Exchange Commission (SEC) proposed amendments to its listing rules on compensation committee composition to, among other things, replace...more

Multinational Oil Services Company Resolves FCPA, Sanctions, And Export Control Matter

On November 26, the DOJ announced that Weatherford International—a multinational oil services company—and certain of its subsidiaries agreed to pay approximately $250 million in fines and penalties to resolve FCPA, sanctions,...more

Psychopaths In The Board Room? And I Thought The Astros Had A Bad Season

I did not think it would be possible that another Houston professional sports team could under-perform the sad-sack Houston Astros in 2013, who ended the season with a winning percentage of .313%. However the Houston Texans...more

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