The US Department of Commerce’s Bureau of Industry and Security (BIS), which administers the Export Administration Regulations (EAR) and regulates most exports from the United States, announced further updates to the process...more
Do you know who your counterparty is? Most of you reading this article will respond – of course, I do. At the start of the business relationship, accounting performed its due diligence, checking for any red flags to...more
FSMA 2023 includes a court procedure for failing insurers to temporarily write-down liabilities, with implications for counterparties. The recently passed Financial Services and Markets Act 2023 (FSMA 2023) provides for a...more
There are many reasons why your company might consider entering into contracts with counterparties in a country where you do not currently have a presence. Perhaps you are expanding into a new geographical market, have...more
News of the failure of Silicon Valley Bank in the United States has dominated headlines over the last few days. Late yesterday, Friday, 10 March 2023, the Bank of England made an announcement about the status of Silicon...more
Section 365 of the Bankruptcy Code allows debtors to “assume” unexpired leases, recommitting themselves and their counterparties to the existing lease terms, subject to approval by the Bankruptcy Court. If there are existing...more
Canadian singer-songwriter Joni Mitchell lamented the toil of deforestation in 1970: "They took all the trees, put 'em in a tree museum/And they charged the people a dollar and a half just to see 'em." More than 50 years...more
A hypothetical: you are in-house counsel, and one morning you click on your daily news only to see one of your company’s key contractual counterparties is trending, and not in a good way. The contractual counterparty has...more
There are a number of issues relating to distribution that arise in split rights deals for motion pictures. Whether it’s an acquisition, co-production or co-financing arrangement, one of the more important deal points is what...more
With the ongoing COVID-19 pandemic, credit card companies may face increased scrutiny, as Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio recently stated that "credit reports play a huge role in...more
Growing environmental awareness by consumers and governments has led to the proliferation of carbon and environmental attribute markets. Businesses in virtually every industry now participate in government mandated markets,...more
A report from the Taskforce on Innovation, Growth and Regulatory Reform provides recommendations for how the UK can “re-imagine” its approach to regulation post-Brexit. On 16 June 2021, the Taskforce on Innovation,...more
The launch of the Protocol and the Supplement represents a key landmark in the transition away from IBORs but is not a one-stop solution. Key Points: ..The Protocol and the Supplement, which take effect on January 25,...more
As a result of the Coronavirus pandemic and the related lock-downs, many businesses will find that counterparties owe them fixed obligations, for example debt payments, but say that they are unable to fulfill these...more
As the economic impacts of the COVID-19 pandemic continue to grow, many businesses are faced with unprecedented challenges. As businesses struggle economically, they may face pressure from their contractual counterparties...more
The current COVID-19 pandemic has led to huge disruption in financial markets and larger collateral swings. This note sets out some issues market participants may need to consider in relation to collateral under OTC...more
COVID-19’s rapid spread has brought disruption and uncertainty to everyone’s lives and businesses—including the real estate industry. Private equity sponsors, senior management teams, real estate owners, occupants, developers...more
By now, you have seen countless commentaries about potential supply chain disruptions caused by COVID-19. Most tell you to review your contracts, including any force majeure provisions, to determine your and your...more
Many organizations may be parties to contracts where the counterparty is seeking to cancel its obligations because of COVID-19. This situation is arising in relation to various commercial relationships, including supply...more
In late January 2020, Airbus agreed to pay nearly $4 billion and to take a number of remedial measures in order to resolve alleged corruption violations with the French National Financial Prosecutor's Office (PNF), the United...more
While no one can reliably predict the outcome, spread, or duration of the coronavirus outbreak, or its tragic human toll, its current effects on Asian and international supply chains are unprecedented. The economic distress...more
Firms outside of Europe should be aware of planned upcoming changes to how they access European markets. Key Points: ..The EU legislators have been reviewing various financial services regimes and developing reforms...more
The European Securities and Markets Authority has published a consultation paper on aligning the trading obligation under the Markets in Financial Instruments Regulation with the recent changes made to the clearing obligation...more
The target date at international level for regulators to introduce margin requirements for uncleared derivatives for counterparties with lower trading volumes has been extended for a year by the International Organization of...more
US parties should consider international arbitration, rather than standard NDA dispute resolution provisions, to resolve disputes that include a foreign counterparty. Key Points: ..Injunctive relief ordered by a US...more