On July 30, 2024, the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPR) that would expand the FDIC’s role under the Change in Bank Control Act of 1978 (CBCA). The NPR seeks, in part, to...more
Executive Summary - Last month, the Federal Deposit Insurance Corporation (FDIC) Board of Directors (FDIC Board) proposed an amendment to its regulations under the Change in Bank Control Act of 1978 (CBCA). Driven by the...more
The Canadian Securities Administrators (“CSA”) recently published for comment proposed amendments and changes to certain national instruments and policies to: (i) address the Canadian Securities Exchange’s (“CSE”) creation of...more
On July 30, the FDIC released its NPRM and request for comment to amend the regulations under the Change in Bank Control Act (CBCA) regarding advance notice requirements for certain acquisitions of voting securities of...more
When the U.S. Government licenses commercial software, it generally does so under the same terms as any other commercial software licensee, unless the terms of that license are inconsistent with federal law or do not...more
Senator Julie Miville-Dechêne recently introduced the 21st-Century Business Act (Bill S-285), a Senate public bill that proposes substantive amendments to the Canada Business Corporations Act (CBCA). The legislative proposal...more
Let's talk about releases and, in particular, the leading Federal Circuit case regarding releases that involve delay and cumulative impact. Bell BCI v. United States, 570 F.3d 1337 (Fed. Cir. 2009), involved the...more
A decision by the U.S. Civilian Board of Contract Appeals (the "Board" or "CBCA") in BES Design/Build, LLC v. General Services Administration, CBCA 7587 (April 6, 2023), further defines what it means to submit a "timely"...more
In January 2022, we warned software companies selling indirectly against attempting to enforce the terms of their End User License Agreement (“EULA”) directly against the Federal Government based on the decision of the...more
A glimmer of hope from the Federal Circuit for software manufacturers looking to enforce license agreements against the U.S. Federal Government. In an order issued March 6, 2024, the court said entities licensing software...more
In Avue Technologies Corporation v. Secretary of Health and Human Services, Administrator of the General Services Administration (Case No. 22-1784), the United States Court of Appeals for the Federal Circuit vacated the...more
Claims Updates - Avue Technologies Corp. v. Department of Health & Human Services, No. 2022-1784 Fed. Cir. (March 6, 2024) The Federal Circuit issued its much-anticipated decision in a case that presented the question...more
False Claims Act Update - The Department of Justice reported sharply increased False Claims Act recoveries for government fiscal year 2023. Settlements and judgements dramatically increased from the fiscal year 2022...more
The Federal Emergency Management Agency (FEMA) provides funding to eligible applicants under the Public Assistance (PA) program to help applicants in responding to and recovering from presidentially declared major disasters...more
The latest edition of Davies’ Governance Insights is now available. In this issue, we explore 10 important trends that will help general counsel and boards navigate the year ahead. In order to help you with your strategic...more
Depuis le 1er janvier 2020, les sociétés ayant fait appel au public (en général, les sociétés ouvertes) régies par la Loi canadienne sur les sociétés par actions (la « LCSA ») sont tenues de fournir des renseignements sur la...more
The Civilian Board of Contract Appeals (CBCA) recently published its annual report, providing key statistics on cases filed at and adjudicated by the CBCA in Fiscal Year (FY) 2023. Of note, the CBCA found in favor of the...more
Since January 1, 2020, distributing corporations (generally, public companies) governed by the Canada Business Corporations Act (CBCA) have been required to provide diversity disclosures regarding “designated groups,” as...more
Canada’s federal beneficial ownership transparency requirements are changing again. Beginning January 22, 2024, federal corporations will be required to provide certain information from their registers of individuals with...more
The Canadian Securities Administrators (“CSA”) have released their annual review of disclosure regarding women on boards and in executive officer positions at Toronto Stock Exchange-listed issuers, showing positive trends in...more
Effective January 22, 2024, all federally incorporated companies must file information on “individuals with significant control” (“ISC”) pursuant to new requirements under the Canada Business Corporation Act (the “CBCA”)....more
On September 29, 2023, the Civilian Board of Contract Appeals (CBCA) ruled that a federal contractor could not collect damages from the U.S. Marshals Service (USMS). The contractor’s claim, asserting that it was being sued by...more
This guide offers an overview of legal aspects of bankruptcy, insolvency and rehabilitation in the requisite jurisdictions. It is meant as an introduction to these market places and does not offer specific legal advice. This...more
Canadian shareholder activism continued its post-pandemic resurgence into the first half of 2023. Emerging trends include the “activist swarm,” where multiple—yet uncoordinated—activists converge on a single target with...more
Like the COVID-19 virus, COVID-related contract claims have not gone away. In “Contracting in the Fog of War: Recovering Costs Caused by an Epidemic,” we reported on Pernix Serka Joint Venture v. Department of State, CBCA...more