Foreign Entities

News & Analysis as of

The Long Arm of the Law is Not That Long: Court Declines Jurisdiction over Document Production by Foreign Non-Party

In Lockwood Financial Ltd. v. China Blue Chemical Ltd., the British Columbia Supreme Court (BCSC) ruled that it does not have the territorial jurisdiction to order a foreign company to give documentary evidence in a...more

Schemes of Arrangement for Distressed Shipping Companies – a viable (and cheaper) alternative to chapter 11?

While it is clear that chapter 11 of the U.S. Bankruptcy Code can be an effective tool of reorganisation for distressed foreign shipping companies that are locked in an adversarial dispute with their creditors, should an...more

Form BE-10 Filing Deadline Looms

Every five years, the Bureau of Economic Analysis of the US Department of Commerce (BEA) conducts a survey concerning the extent of investment abroad by US individuals and entities (US persons). In the past, only US persons...more

Contracting with foreign entities and electronic signature under English Law: Getting the execution right

You've managed to agree the deal; all that's left is to sign the documents. That's the easy bit, correct? So you might think, but it is important to be careful not to slip up at this final stage, particularly when contracting...more

Russia Bulletin - April 2015

Russia is in the midst of strategically overhauling its economy, seeking to modernize its business methods, “de-offshore” business interests and impose stricter constraints on foreign investors and multinationals operating...more

China’s New Proposed Foreign Investment Law — What to Expect

On January 19, 2015, the Ministry of Commerce of China (“MOFCOM”) released a draft PRC Foreign Investment Law (the “FIL”) for public comment. Once adopted, the FIL would abolish the Law on Sino-Foreign Equity Joint Ventures...more

SEC FCPA Enforcement Action against Goodyear and Investigation of Mondelez International Provide Valuable Lessons for U.S....

Action Item: The Securities and Exchange Commission’s enforcement action against Goodyear Tire & Rubber Company and its investigation of Mondelez International provide key lessons to U.S. companies seeking to acquire foreign...more

China Outlines Plans for its Carbon Trading Markets

The Climate Department of China’s National Development and Reform Commission (NDRC) recently published an article entitled “Regarding the Fundamental Conditions and Operational Thinking Behind the Promotion and Establishment...more

CFTC Staff Issues No-Action Relief From Certain Financial Reporting Requirements Applicable to Introducing Brokers

On January 23, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) issued a no-action letter regarding financial reporting requirements as they apply to foreign introducing...more

Proof of Claim: Foreign Qualification Requirements May Be More Important Than You Thought

In re Flex Fin. Holding Co., 518 B.R. 891 (Bankr. D. Kan. 2014) – A landlord filed a proof of claim for ~$1.34 million for a debtor’s prepetition breach of its lease. The debtor objected based on the landlord’s...more

CFTC Extends Relief to Four Foreign Clearing Organizations

On December 18, the Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission extended the no-action relief previously granted to four foreign clearing organizations: ASX Clear (Futures) Pty Limited,...more

NAIC Approves Seven Foreign Countries As Qualified Jurisdictions For Reinsurance Collateral Reduction Requirements And Announces...

At its December 11, 2014 meeting, the National Association of Insurance Commissioners (NAIC) approved seven foreign countries as Qualified Jurisdictions so that reinsurers licensed and domiciled in those jurisdictions will be...more

Weekly Update Newsletter - December 2014 #2

GOVERNMENT CONTRACTS - DoD Issues Final Rule to Amend DFARS Foreign Commercial Satellite Services (DFARS Case 2014-D010) - The Department of Defense (DoD) issued an interim rule adopted as final with minor...more

Is International Service of Process by Mail Permitted?

When a foreign client is sued in a U.S. court, the first question we typically address is the issue of how the complaint was served. It is not uncommon for some plaintiff’s lawyers to attempt service of process over a foreign...more

Poland: Consequences of proposed amendment to Polish Gambling Act for foreign operators

On 21 October 2014, the Council of Ministers considered a draft amendment (version as of 17 October 2014) to the Polish Gambling Act dated 19 November 2009 which envisages a new opportunity for foreign gambling operators to...more

FATCA Alert

In recent years, the United States has increased initiatives to counter tax evasion committed by U.S. persons who are not reporting and paying U.S. income tax on earnings derived from foreign financial assets. The Foreign...more

Foreign Marketing Materials Relevant to Domestic Infringement

Amdocs (Israel) Ltd. v. Openet Telecom, Inc. - In an appeal of a lower court’s summary judgment of no infringement of four patents, the U.S. Court of Appeals for the Federal Circuit reversed the lower court’s judgment...more

FRANCHISEE 101: Forum Selection Clauses May Be Enforceable

A recent decision in Allegra Holdings, LLC v. Davis demonstrates that courts are enforcing forum selection clauses in favor of out-of-state franchisors and against in-state franchisees, notwithstanding franchise anti-waiver...more

PA Tax Law News - September 2014

In This Issue: - Sales Factor Sourcing of Services & Intangibles - Nonresident Limited Partners Liable for Personal Income Tax - PA Appeal Systems Changes Update - Personal Responsibility for...more

The Next Big Thing for Companies Outside the US: US IPOs Using a Yield-oriented Structure

Ten practical considerations can help companies around the world tap the significant US capital market with IPOs. Investors in the United States continue the search for yield. Over the past several years, over 60...more

Indiana DOR Finds Economic Nexus, Disregards UPS

The Indiana Department of Revenue recently concluded that a company that earned royalty income from licensing trademarks and trade names to two of its Indiana affiliates, and had no physical presence in the state, nonetheless...more

Privacy or Politics? – Russia Seeks More Control Over its Citizens’ Personal Data

Back in July, President Vladimir Putin signed a law (Federal Law No. 242-FZ) that compels “data operators” to store Russian citizens’ personal data only inside Russia. Previously, Russian law allowed the storage of data...more

Editorial: For Fla. Courts, Forum Selection Clause May Not Be Enough

You represent a Brazilian corporation that is entering into a joint venture with a Colombian concern. The joint venture relates to the development of a multimillion dollar wind farm in northeastern Brazil. Originally...more

Weekly Update Newsletter - August 2014 #2

In this issue: - Obama Signs Order Boosting Federal Contract Worker Rights - DoD Issues Interim Rule to Amend DFARS Foreign Commercial Satellite Services (DFARS Case 2014-D010) - Obama Administration...more

Back to School: 7th Circuit Issues Two Decisions on International Diversity Jurisdiction

Putting together all the Seventh Circuit’s decisions from the last few decades on subject-matter jurisdiction would yield an impressive textbook on the subject. The court (and Judge Easterbook, in particular) has adhered...more

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