Foreign Jurisdictions

News & Analysis as of

Can A Receiver Take Over Out-of-State Assets With A California Appointment Order?

QUESTION: I am a receiver for a partnership. While most of the partnership assets are in California, I have discovered the partnership owns a storage facility in Nevada and mining equipment in Arizona. Can I take over and...more

Rehearing Petition Dramatizes Second Circuit's Comity Rejection

Recognition of a foreign main proceeding under Chapter 15 of the Bankruptcy Code has “effects” under Section 1520 that are automatic and powerful, including application of the automatic stay of Section 362 and the...more

Recent FCPA Enforcement Actions: The Layne Christensen Case and SBM Offshore

The Fourth Quarter of 2014 has been a busy one for DOJ and SEC in the FCPA arena. We are all praying that DOJ and SEC resolve the Avon case soon so that we do not have to include the case on our lists for predictions for...more

Merger Control: Overview and updates in Thailand

Over 100 jurisdictions have adopted merger control rules around the world which apply generally to mergers, joint ventures, takeovers and acquisitions. Each country has its own set of jurisdictional thresholds to determine...more

Litigation Update: Sovereign Immunity vs Commerciality: Enforcing A Foreign Judgment Against A Nation State In Australia

The recent decision by the NSW Court of Appeal in Firebird Global Master Fund II Ltd v Republic of Nauru [2014] NSWCA 360 illustrates the complex considerations involved in enforcing a foreign judgment against a foreign State...more

Cayman Islands Case Notes, October 2014

Caribbean Islands Development Ltd. (in Official Liquidation) v First Caribbean International Bank (Cayman) Limited (unreported) - In a ruling handed down on 8 October 2014, the Cayman Islands Court sent a strong...more

Cayman law amended to facilitate the grant of interim relief in aid of foreign proceedings

In modern litigation there is often a strong possibility that obtaining interim relief from the court of the jurisdiction in which you are suing your opponent will not fully protect you against the dissipation by him of...more

Antitrust and Competition Newsletter - October 2014 (Global)

Recent U.S. Criticism of China’s Enforcement of Its Antitrust Laws Against Foreign Companies - For some time, many in the antitrust community have expressed concerns about how China is enforcing its antitrust laws...more

Bermuda: Taking Charge of the Future - A review of recent legislative changes relating to Trusts and Life Insurance Contracts

Bermuda is a financial centre that is determined to grow, diversify, and improve upon the range and quality of the financial and professional services that it offers to its international clients. This goal is supported...more

The Rise of Foreign Issuer IPOs

Foreign issuer IPOs have been increasing recently as foreign issuer activity continues to improve since a marked decline in 2011 and 2012. This decline resulted in part from market volatility in the aftermath of the financial...more

Federal Appeals Court Says Dodd-Frank Does Not Protect Overseas Whistleblowers

The U.S. Court of Appeals for the Second Circuit has ruled that the Dodd-Frank Act does not protect whistleblowers outside the United States. In Liu Meng Lin v. Siemens AG, Case No. 13-4385-cv (2nd Cir. August 14,...more

August 2014: EU Litigation Update

English Court of Appeal Confirms Extra-Territorial Reach of Contempt Proceedings Against Foreign Company Directors: Dar Al Arkan Real Estate Development Co. and Another v. Al Refai and Others [2014] EWCA (Civ.) 715, [2014]...more

How Windstream Ruling Will Affect Foreign Taxpayers

In general, a REIT is a special purpose entity for U.S. federal income tax purposes that requires at least 75 percent of the value of the entity’s gross assets to consist of real estate assets, cash, cash items, and...more

Ninth Circuit Finds No Tag Jurisdiction Over Foreign Corporation

When a corporation sends an officer to a conference in California, is the corporation present in California? A corporation can only act through its officers. Thus, it might be said that the corporation is present wherever...more

Antitrust Laws Are Rapidly Changing In Latin America

In recent travels to Central America, it’s been interesting to see the number of American companies operating and distributing in the region. So in a recent telephone conference with other antitrust practitioners, I was...more

Recognition of Foreign Judgments in the United States (VIDEO) [Video]

Every year, thousands of judgments from foreign courts are brought to U.S. federal and state courts for recognition and enforcement. Thanks to the sharply rising tide of transnational litigation, more and more U.S. and...more

BVI advice necessary in relation to BVI company claims: Wong v Wang

The Hong Kong Court of First Instance confirmed in its recent decision in Wong Ming Bun v Wang Ming Fan [2014] 1 HKLRD 1108 that in any claim by way of derivative action on behalf of a company incorporated in the British...more

New Credit Default Swap Terms to Be Implemented in September 2014

Earlier this year, the International Swaps and Derivatives Association Inc. (ISDA) published the 2014 Credit Derivatives Definitions (the 2014 Definitions). The 2014 Definitions introduce a new government bail-in Credit Event...more

Creating and Registering Security Interests Over Assets of a BVI Business Company

Entering into security financing transactions with BVI Business Companies (BCs) is a familiar part of the global financial services landscape given the use and presences of BCs. The ease of use of BCs in these types of...more

Puerto Rico Bonds: Legislation and Litigation

For municipal bond investors and insurers, recent events in Puerto Rico have become a major concern. Puerto Rico has tried to address its mounting debt crisis by enacting legislation that would create, in effect, a...more

Corporate Recovery and Insolvency in Bermuda

1 Issues Arising When a Company is in Financial Difficulties - 1.1 How does a creditor take security over assets in Bermuda? Bermuda is a self-governing British Overseas Territory. The systems of law...more

Enforcing Foreign Judgments in U.S. Admiralty Courts: Second Circuit Prefers Substance Over Form

After protracted and expensive litigation overseas, you obtain a judgment against the defendant. There remains one series of hurdles left to cross: the defendant refuses to pay that judgment and has no assets in the country...more

Why should, and when can, international parties litigate before the English courts?

The international caseload of the English commercial court is enormous. A survey of 705 commercial court judgments handed down in the past five years showed that about 62% of the litigants involved were based outside England...more

Risks of International Anti-Corruption Enforcement

White collar criminal investigations take time. Corruption investigations are no different. Everyone expected UK Bribery enforcement to quickly increase and cause complex headaches for companies operating in the global...more

UK High Court confirms jurisdiction to grant cross-border declaration of non-infringement

In Actavis Group HF v. Eli Lilly & Co. the UK High Court has granted a declaration of non-infringement in the UK, France, Italy and Spain. A jurisdictional challenge in relation to the French, Italian and Spanish...more

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