Here is an update on the lawsuit filed by three trade associations against the Colorado Attorney General and UCCC Administrator challenging the application of the Colorado opt-out statute to out-of-state, state chartered,...more
On May 17, 2024, the Office of the Attorney-General of the National Treasury (“PGFN”) and the Brazilian Internal Revenue Service (“Brazilian IRS”) jointly published the Public Notice of Settlement for Adhesion No. 6/2024...more
What is it and what does it do? An assignment of charter is a security agreement whereby a party (typically, a vessel owner) that has entered into a charter assigns its rights under such charter to a secured party...more
On March 25, 2024, three consumer financial services industry trade groups filed a lawsuit asking the federal district court in Colorado to strike down recent Colorado legislation purporting to opt out of a federal law that...more
On February 12, 2024, in Ontario English Catholic Teachers Association v. Ontario (Attorney General), 2024 ONCA 101, the majority of the Ontario Court of Appeal (OCA) upheld, in part, the decision of the Ontario Superior...more
Whether you’re a first-time founder or a serial entrepreneur, the process of obtaining venture funding can be complicated and confusing. Let’s look at the process of getting a venture financing to closing, and the primary...more
The Federal Aviation Administration (FAA) has issued an advance copy of its Notice of Intent (Notice) to initiate a rulemaking to reconsider the way in which the FAA regulates certain air carriers that perform public charter...more
On February 21, 2023, Vice Chancellor Lori W. Will of the Delaware Court of Chancery granted the petition of Lordstown Motors Corporation (the “Company”) under Section 205 of the Delaware General Corporation Law (“DGCL”) to...more
On December 27, 2022, Vice Chancellor Morgan T. Zurn of the Delaware Court of Chancery substantially granted plaintiff’s motion for summary judgment in an action seeking attorneys’ fees. Garfield v. Boxed, Inc., No....more
Buying, maintaining and using a recreational boat is always a pricey diversion. As inflation rises and costs mount for boat operation, owners will look for ways to reduce the overall expenses associated with this activity....more
Last summer, I considered the question of whether bylaws constitute a contract under California law. See Are Bylaws Contracts Under California Law? and Are Bylaws a Contract or Contracts? Earlier this month, Vice Chancellor...more
Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more
In Sciabacucchi v. Salzberg, No. 346, 2019, 2020 WL 1280785 (Del. Mar. 18, 2020), the Delaware Supreme Court reversed a Delaware Court of Chancery (Laster, V.C.) decision declaring invalid a federal forum selection provision...more
OFAC had a big year in 2019 and 2020 looks like a continuation. In the last week, OFAC issued two enforcement actions — Eagle Shipping and Park Strategies....more
American politics at the national level frequently involve conflicts over federalism and the allocation of authority between the federal government and state governments. On a smaller scale, the Ohio Constitution contains...more
Does a charterer that agrees to nominate a “safe berth” to load and discharge cargo guarantee the berth’s safety for the vessel? If you are litigating this issue in the U.S. courts within the Second and Third Circuits, the...more
There have certainly been many developments in securities claims jurisdiction in the past several years, particularly in the area of “exclusive forum” provisions contained in charters or bylaws. Exclusive forum provisions...more
The final version of the revised Socio-economic Empowerment Charter for the Mining and Minerals Industry, 2018 (Mining Charter III) was released in June and published for implementation in the Government Gazette by South...more
With airplane prices dropping recently, we have seen an uptick in purchases of corporate aircraft by our clients around the footprint. Clients have realized the benefits of owning their own airplanes, such as being able to...more
U.S. Financial Industry Developments - Community Reinvestment Act: Revisions to Impact of Evidence of Discriminatory or Other Illegal Credit Practices on Community Reinvestment Act Ratings... ...more
Despite what appears to have been a broad-based consultation process on Draft Mining Charter 2018, interested and affected parties have been invited to submit written representations on Draft Mining Charter 2018 by 27 July...more
The Conference of State Bank Supervisors (CSBS) has continued its efforts to promote improvements in Bank Secrecy Act/Anti-Money Laundering compliance with the release in January 2017 of a new BSA/AML Self-Assessment Tool for...more
We learned yesterday of the effect that broken mergers are having on some hedge funds. Now comes news that, like many other institutional investors, large US insurance companies are yanking huge sums of money out of their...more
Bonanno v. VTB Holdings Inc., C.A. 10681-VCN (February 8, 2016) - Section 115 of the Delaware General Corporation Law addresses forum selection provisions in corporate charters or bylaws....more
The United States District Court for the District of Delaware held that the SEC was incorrect when it rendered a no-action letter permitting exclusion of a shareholder proposal submitted under Rule 18a-8 in Trinity Wall...more