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Subsidiaries

Nuevas Disposiciones Generales de Contratación para Pemex y sus Empresas Subsidiarias

by Holland & Knight LLP on

El pasado 18 de mayo de 2018 se publicaron en el Diario Oficial de la Federación las Disposiciones Generales de Contratación para Petróleos Mexicanos y sus Empresas Productivas Subsidiarias. Se establece un capítulo de...more

New Rules Established for Compliance with Pemex Contracts

by Holland & Knight LLP on

The new "General Rules for Contracts with Petróleos Mexicanos and its Subsidiary Companies" was enacted and published in the Mexican Official Gazette on May 18, 2018. The new rules include a chapter on integrity in...more

Is a “Vice President” an Officer for Indemnity Purposes? Delaware and New Jersey Weigh In

by White and Williams LLP on

What makes a corporate officer an “officer”? For corporations, the issue of who qualifies as an officer is significant because corporations may be required to advance legal expenses and indemnify their officers pursuant to...more

Restructuring and Insolvency Bulletin: Issue 4 - May 2018: UK Consultation on Insolvency and Corporate Governance

by Dechert LLP on

Accountability is the major theme of the recent government consultation regarding ‘Insolvency and Corporate Governance’, which follows high profile failures such as BHS and Carillion. The consultation contains proposals...more

In Re: HTC Corporation

by Knobbe Martens on

Federal Circuit Summary - Before PROST, WALLACH, and TARANTO. On Petition for Writ of Mandamus to the U.S. District Court for the District of Delaware. Summary: The patent venue statute, 28 U.S.C. § 1400(b), does not...more

Corporate Law & Governance Update - May 2018

by McDermott Will & Emery on

Major Workforce Culture Controversy - A recent, highly-publicized controversy provides a near-worst case scenario of how workforce culture issues can damage corporate reputations and raise questions about board oversight. ...more

Customer Due Diligence and FinCEN’s Frequently Asked Questions

by Sullivan & Worcester on

As you are aware, FinCEN’s Customer Due Diligence rules are effective in two days. In a nutshell, these rules require banks to obtain and verify the identity of the beneficial owners of new business customers. The rules are...more

Is Trouble Brewing at Chicago’s Union Station?

by Holland & Knight LLP on

A recent filing at the U.S. Surface Transportation Board (STB) reveals a potential, budding conflict between Metra and Amtrak involving Metra's use of the Chicago Union Station. Amtrak owns the station and Metra is its...more

Can a Subsidiary Conspire with Its Parent?

by Epstein Becker & Green on

A violation of Section 1 of the Sherman Act requires an agreement between two or more separate economic entities. In Copperweld Corp. v. Independence Tube Corp., 467 U.S. 752 (1984), the Supreme Court of the United States...more

BEA’s BE-12 Benchmark Survey of Foreign Direct Investments in the United States: Implications for US Asset Managers

by Dechert LLP on

Financial services providers that are subsidiaries of a non-U.S. parent (or that have received substantial direct investment from abroad) should evaluate whether they are required to file the Benchmark Survey of Foreign...more

Corporate Criminal Liability – Perspectives from the US, UK and France

Shakespeare’s observation that the “past is prologue” certainly applies to corporate criminal liability in the UK and France, as these jurisdictions embrace with gusto corporate prosecutions akin to those pursued in the US...more

California DBO, Virginia AG Target Short-term Lending

As the Consumer Financial Protection Bureau retreats, states continue their aggressive attacks on short-term lending. In California, efforts to avoid interest rate limits cost a payday lender $160,000, while the Virginia AG...more

Japan Legal Update - Volume 34 | March 2018

by Jones Day on

Corporate Governance - Subcommittee Prepares Interim Proposal for Amendment to the Companies Act - On February 14, 2018, the Companies Act (in relation to Corporate Governance, etc.) Sub-Committee of the Legislative...more

SEC Settles Another FCPA Internal Controls Action

by Dorsey & Whitney LLP on

The Commission filed another settled FCPA internal controls actions. The case involved a Canadian mining firm that acquired subsidiaries in Mauritania and Ghana with little to no internal controls that received repeated...more

Virginia State Corporation Commission Approves First Retail Customer Request for Load Aggregation for Competitive Retail Electric...

by Williams Mullen on

On February 21, 2018, the Virginia State Corporation Commission (the “Commission”) approved the petition of Reynolds Group Holdings Inc. (“Reynolds”) to aggregate the electric energy loads of three subsidiaries, at six...more

House Committee Holds Hearing on Export Control Reform Bill

On March 14, 2018, the House Committee on Foreign Affairs held a hearing titled “Modernizing Export Controls: Protecting Cutting Edge Technology and U.S. National Security” to examine the proposed Export Control Reform Act...more

Energy Newsletter - March 2018

by King & Spalding on

Good news at last for the development of offshore wind projects in France - While France had launched in 2011 a very ambitious offshore wind farm development program, aiming to reach 6 GMW of wind turbine installations at...more

SEC Settles FCPA Books and Records and Internal Controls Action

by Dorsey & Whitney LLP on

The SEC moved past virtual currencies for the moment, returning to a long established staple – the Foreign Corrupt Practices Act. The Commission filed a settled books and records action involving an Israeli based firm whose...more

Caution: Filing Multiple H-1B Petitions for the Same Employee May Lead to Denial

by Miles & Stockbridge P.C. on

Federal regulations prohibit “related entities” from filing more than one H-1B petition on behalf of a foreign national unless there is a legitimate business need to do so. This rule is designed to prevent H-1B petitioners...more

United States: A Global Whistle-Stop Tour

by Dentons on

Codes of conduct not only implicate corporate compliance obligations under US law for US-based multinationals, but also compliance with the employment and data privacy laws in the foreign jurisdictions where their...more

Netherlands: Corporate Group Decision Making and Employee Participation

by Dentons on

In the management structure of global companies, the de facto management of a Dutch subsidiary may, in practice, be in the hands of the (ultimate) shareholder. This business practice is often part of a matrix organization, in...more

No parent company duty of care for Niger Delta claims

by Allen & Overy LLP on

The Court of Appeal has ruled that the English courts do not have jurisdiction over claims by victims of oil leaks from pipelines in the Niger Delta. The judgment comes after the Lungowe & ors v Vedanta Resources Plc [2017]...more

Peru and Argentina: New Bribe Regimes Put Companies at Risk

by Jones Day on

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

Credit support, collateral and creditors’ committees - leveraged finance deals in France

by White & Case LLP on

European Leveraged Finance Alert Series: Issue 2, 2018 - Following the release of White & Case’s 4th annual EMEA Leveraged Finance Report in January, this Alert discusses certain key legal issues when structuring leveraged...more

Foreign Parent Company Is Joint Employer With Subsidiary For Employment Claims, Court Rules

by Jackson Lewis P.C. on

A foreign parent company can be held jointly liable for employment claims against its U.S. subsidiary, a federal district court has held. Middlebrooks v. Teva Pharmaceuticals USA, Inc., No. 17-00412 (E.D. Pa. Feb. 1,...more

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