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Liquidation Contract Terms

White & Case LLP

South African Bank and Bank Controlling Company Flac Instruments: Contractual Recognition of the South African Reserve Bank’s...

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The Prudential Authority of South Africa (the "Prudential Authority") published Draft Prudential Standard RA03 entitled "Flac Instrument Requirements for Designated Institutions" (the "Draft Flac Standard") in December 2023...more

BCLP

UK Corporate Briefing - September 2024

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Welcome to the Corporate Briefing, where we review the latest developments in UK corporate law that you need to know about. In this month’s issue we discuss...more

King & Spalding

Take No Notice and Wa(i)ve Goodbye to Claims

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Takeaways From a Recent English Court Case on Notice Obligations - Many construction contracts provide that the contractor’s entitlement to an extension of time and/or additional cost is conditional upon the service of a...more

Goodwin

Delaware ABCs (Assignments for the Benefit of Creditors): No Longer as Easy as 1-2-3

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Companies forced to wind down operations and liquidate their assets often choose a liquidation process known as an ABC (Assignment for the Benefit of Creditors). An ABC is usually more streamlined, requires fewer public...more

Dechert LLP

UK Supreme Court Finds No Entitlement to a "Reasonable Fee" for Making a Business Introduction

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The UK Supreme Court has found that an introducer of business was not entitled to any remuneration for a valuable introduction outside of circumstances expressly provided for in the contract. This judgment highlights the...more

Farrell Fritz, P.C.

Business Divorce on the Menu

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The restaurant business is on the skids amid the COVID-19 pandemic. Yelp reports that 60% of closed restaurants won’t re-open. Apart from the pandemic, the success rate for new restaurants is dauntingly low. Surveys show a...more

Goodwin

What You Need To Know About Negotiating A Venture Term Sheet

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For any founder, whether a first-timer or a serial entrepreneur, it’s an exciting moment when you receive a term sheet from a venture capital fund for your company’s first preferred stock financing round. Excitement aside,...more

Hogan Lovells

Back to basics - Hong Kong Court of Appeal queries approach to winding-up petitions where arbitration is involved

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The Hong Kong Court of Appeal has suggested that a previous Court decision may have overstepped the mark by suggesting that an arbitration clause in a client agreement should generally take precedence over a creditor's right...more

FordHarrison

Non-Compete News: – Georgia Court Interprets Non-Compete Statute's "Sale-of-a-Business" Provision

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Georgia’s Restrictive Covenants Act (O.C.G.A. § 13-8-50 et seq.) (“RCA”) governs Georgia non-compete agreements entered into after May 2011. Very few courts have interpreted the RCA since its inception. In Bearoff v. Craton,...more

Farrell Fritz, P.C.

Can an Arbitrator Order Extra-Judicial Dissolution?

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Often business owners enter into arbitration agreements because they hope it will result in a speedier, less expensive resolution than litigation to disputes with their co-owners. ...more

White & Case LLP

Liquidated damages in energy projects

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In a noteworthy decision to participants in the energy industry, the High Court of England & Wales examined what constitutes a valid liquidated damages clause in the event of delayed completion of a solar project. And last...more

BCLP

From Across the Pond: The BHS Saga Continues – Can a Company Voluntary Arrangement (CVA) Ever Permanently Vary the Terms of a...

BCLP on

In Wright (and another) (as joint liquidators of SHB Realisations Ltd (formerly BHS Ltd) (in liquidation)) v Prudential Assurance Company Ltd, the court held that, when the BHS CVA terminated, the landlord was entitled to...more

Lewitt Hackman

FRANCHISOR 101: Arbitr-“all”

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A federal court in New Jersey granted a franchisor's motion to compel arbitration of disputes involving seven frozen yogurt franchises, even though the claims were subject to different arbitration provisions in different...more

Carlton Fields

Seventh Circuit Affirms Dismissal Of Post-Liquidation Reinsurance Claim As Time-Barred

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We previously posted on the trial court’s ruling addressing the statute of limitations in this case on June 23, 2016. By way of background, the underlying contract between the insurer and the reinsurer required the insurer to...more

Jones Day

Projects Disputes in Australia: Recent Cases

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Since late last year, there have been several major decisions from Australia's highest courts on important issues for stakeholders in the construction, mining and infrastructure industries. Below, we provide a summary. Some...more

Farrell Fritz, P.C.

Sellout: Why Control is Key in the Sale of VC-Backed Companies

Farrell Fritz, P.C. on

Every founder of a growth startup dreams of a big, successful exit — a sale of the company for millions of dollars. But that dream could be shattered if the investors are able to cause the company to be sold prematurely with...more

Carlton Fields

Service Of Suit Clause Waives Reinsurers’ Rights To Remove Case To Federal Court

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A federal district court in New Hampshire has held that a service of suit clause contained in reinsurance contracts waives the reinsurers’ rights to remove a litigation brought against them in state court by the Insurance...more

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