Podcast: Illinois Tool Works Inc. & Subsidiaries v. Commissioner of Internal Revenue
The FAQs aim to clarify key aspects of the CSRD, including the scope of the rules, compliance dates, and exemptions. On 7 August 2024, the European Commission (Commission) published a set of frequently asked questions...more
The matter of Berkeley Square Holdings Ltd v Lancer Property Asset Management Ltd [2021] EWHC 849 (Ch) is the latest in a recent series of decisions that are gradually expanding the scope of “control” of documents for...more
Section 189 of the California General Corporation Law defines "subsidiary" as follows...more
Last month, the UK Supreme Court overturned the judgment of the Court of Appeal and allowed a claim for damages from claimants in the Niger Delta to proceed against Royal Dutch Shell plc and its local subsidiary Shell...more
Even in the absence of a cross-border transfer of personal data from the European Union to a third country, if you are using a vendor that has a U.S. parent company, get ready to implement supplementary measures, says the...more
The UK Supreme Court has issued the latest in a series of landmark decisions on parent company liability under English law for claims alleging environmental damage and human rights abuses. In a unanimous reversal of the...more
The Supreme Court has decided the Serious Fraud Office does not have the power to issue a section 2 notice to a non-UK company with extraterritorial application. It can, however, continue to compel production of documents...more
The European Court of Justice (the "ECJ") has confirmed1 the EU General Court’s (and the European Commission’s) finding that Goldman Sachs was jointly liable for the conduct of a former subsidiary, Prysmian, which the...more
A class action by 202,600 claimants arising from the collapse of the Fundão dam in Brazil was struck out as abuse of process. Background - In Município De Mariana & Ors v. BHP Group Plc & Anor (Rev 1), the largest group...more
On Monday, September 21, 2020, the Federal Trade Commission (FTC) and Department of Justice (DOJ) jointly released two proposed rule changes to the Hart-Scott-Rodino (HSR) premerger filing requirements for acquiring parties....more
The District of New Jersey confirmed that members of a corporate family all are represented by the same in-house counsel, whether that counsel occupies an office within the parent company or within a subsidiary, because...more
The Development: The European Court of Justice ("ECJ") ruled that parent companies and economic successors can be held liable for damages caused by a subsidiary or acquired company in cartel cases. This significantly broadens...more
On 10 April 2019, the Supreme Court in Vedanta Resources Plc v Lungowe, determined that a UK-domiciled parent company may owe a duty of care to third parties affected by operations of its foreign subsidiary....more
In a landmark judgment (Case C-724/17, Vantaa vs. Skanska Industrial Solutions and others), the European Court of Justice (ECJ) decided on March 14, 2019 that companies cannot use corporate restructuring to escape their...more
Shearman & Sterling advised the Frigoglass Group on its successful capital restructuring (the “Restructuring”), which included the use of an English scheme of arrangement....more
In reaction to fallout from the recent Odebrecht scandal, and aided by shifting political winds, Peru and Argentina have enacted significant corporate anticorruption legislation. Both countries have implemented laws...more
In a decision likely to give comfort to parent energy companies, the English Court of Appeal has confirmed (by a majority of 2:1) that the parent company of the Shell Group owed no duty of care to approximately 42,500...more
A landmark United Kingdom case recently has made it clear that UK-based parent companies may be found liable for human rights violations committed by their foreign subsidiaries. Plaintiffs all over the world are filing...more
In a highly mediatised ruling, the English High Court refused jurisdiction over claims brought against Royal Dutch Shell and its Nigerian subsidiary, Shell Petroleum Development Company of Nigeria Ltd, by over 42,000...more
The final, temporary, and proposed regulations issued by the Internal Revenue Service on October 13 relating to intercompany debt obligations between members of an affiliated group of corporations under Section 385 of the...more
In D. Cummins Corp. v. U.S. Fidelity & Guaranty (no. A142985, filed 3/30/16), a California Court of Appeal upheld the dismissal of a declaratory relief action filed by the parent holding company of an insured corporation...more
A recent precedential Trademark Trial and Appeal Board decision provides valuable guidance on the proper allocation of trademark registration ownership as between a corporate parent and a subsidiary, highlighting the perils...more
On March 30, the United States Court of Appeals for the Federal Circuit published amended Federal Circuit Rules of Practice. Below is a summary of the most significant changes that are likely to impact your practice before...more
The US Court of Appeals for the Second Circuit recently decided a case that should be taken into consideration when Japanese (and other foreign-based) companies determine the level of active involvement that their parent...more
How much of an ownership interest does a parent have to have in a subsidiary for the attorney-client privilege to extend to communications between the susidiary and the lawyer for the parent company?...more