Podcast: Illinois Tool Works Inc. & Subsidiaries v. Commissioner of Internal Revenue
The arduous process of FCPA compliance requires risk teams to digest and cross-reference a morass of information – from internal data analysis to human representatives collecting interviews on the ground. Diligence failures...more
On January 27, 2021, the Court of Justice of the European Union (“CJEU”) issued an important ruling regarding an investment fund’s liability for the cartel behaviour of an affiliate. The CJEU confirmed that an investment fund...more
Tax structuring under the previous regime - Prior to the issuance of the final regulations described below, under Section 956 of the Internal Revenue Code of 1986 and its related Treasury Regulations, for U.S. tax...more
Since 2015, three cases have gradually been making their way through the English appeal courts: Lungowe v Vedanta Resources Plc; Okpabi v Royal Dutch Shell; and AAA & Ors v Unilever. To quote the Court of Appeal in...more
Could private equity funds be liable for human rights breaches by a portfolio company? A recent decision by the UK Supreme Court increases the likelihood of this outcome. This blog looks at the judgment in Vedanta Resources...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 UK Supreme Court handed down its judgment in Vedanta Resources PLC and anor. v Lungowe and others [2019] UKSC 20; a long awaited decision on parent company liability and the jurisdiction of English...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
As a general matter, a parent company will not be liable on a contract signed by its subsidiary simply because it is a wholly-owned subsidiary. Sometimes, however, it is possible to establish some other basis for binding a...more
Welcome to the second edition of BHR 360, our bi-annual Business and Human Rights newsletter. In the last edition, we looked at key BHR trends and what to watch out for in 2018. In this edition, we look back on a year full of...more
On 4 July 2018, the Court of Appeal handed down judgment in AAA & Ors. v Unilever PLC and Unilever Tea Kenya Limited [2018] EWCA Civ 1532, dismissing an appeal by victims of the 2007 post-election violence in Kenya....more
Although the Cour de cassation (France’s Supreme Court) still limits the application of the concept of “co-employment” between parent companies and their subsidiaries to exceptional cases, its rulings do not preclude a...more
Proposed reforms for SME Growth Markets - On 24 May 2018, the Commission published a proposal for a regulation which seeks to make technical amendments to certain provisions of the Market Abuse Regulation and the...more
On 17 May 2018, an unprecedented round table took place to discuss the “French duty of vigilance and civil liability in human rights matters” at our Paris office. ...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 the last four months, the Court of Appeal has handed down judgment in two important cases relating to parent company liability and jurisdiction over extra-territorial human rights impacts. ...more
The Court of Appeal has handed down its judgment in a landmark case on jurisdiction and parent company liability (Lungowe and Ors. v Vedanta Resources Plc and Konkola Copper Mines Plc [2017] EWCA Civ 1528). The judgment...more
In a highly anticipated judgment, the English High Court has ruled that Royal Dutch Shell (RDS), a holding company that is the ultimate parent of the Shell Group, does not owe a duty of care to residents of the Niger Delta in...more
The Dutch competition authority (the Authority for Consumers and Markets, or ACM) has issued two decisions imposing fines on private equity firms for the participation of their portfolio company in the so-called flour cartel....more