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Subsidiaries Multinationals

Barnea Jaffa Lande & Co.

Tax: Classification of Inter company Transactions

A precise definition of business services was recently at the core of a dispute between the Israel Tax Authority and eBay Marketplace Israel Ltd., a subsidiary of the multinational eBay Group. The district court litigated...more

International Lawyers Network

Establishing a Business Entity in the Philippines (Updated)

I. Types of business entities - As a general rule, foreign equity is allowed to conduct and participate in business in the Philippines, through any of the following modes: 1. By investing in a domestic stock...more

International Lawyers Network

Establishing A Business Entity In the Philippines (Updated)

I. Types of business entities - As a general rule, foreign equity is allowed to conduct and participate in business in the Philippines, through any of the following modes: 1. By investing in a domestic stock...more

Fish & Richardson

Federal Circuit Clarifies Venue in Hatch-Waxman Actions in Celgene v. Mylan

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The Hatch-Waxman Act provides a cause of action for infringement based on the submission of an abbreviated new drug application (ANDA) to FDA. 35 U.S.C. § 271(e)(2). Following the Supreme Court’s ruling in TC Heartland LLC v....more

Barnea Jaffa Lande & Co.

Warning, Border Ahead? Expanding Israeli Courts' Jurisdiction over Foreign Defendants

In early June 2021, the Tel Aviv-Yafo District Court handed down an important precedential ruling. The ruling expands the identity of an authorized agent, i.e., the entity to whom a statement of claim may be served and that...more

Morrison & Foerster LLP

The World Is Your Oyster? Supreme Court Confirms UK Jurisdictional Gateway For Parent Company Liability

On 12 February 2021, the Supreme Court handed down judgment in the high profile case of Okpabi v Shell, in which it allowed a jurisdictional appeal relating to group claims brought by claimants against a UK domiciled parent...more

Eversheds Sutherland (US) LLP

The DOJ issues its first FCPA advisory opinion after six years of silence

On August 14, 2020, the US Department of Justice (the DOJ) issued its first Foreign Corrupt Practices Act (FCPA) Opinion Procedure Release in six years, which relayed that it did not intend to pursue an enforcement action...more

White & Case LLP

EU General Court strikes a blow to Commission approach to fiscal State aids in the Apple tax case

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The General Court has upheld a challenge to a 2016 Commission decision that had required Ireland to recover €13.2 billion in illegal State aid from Apple, on account of alleged preferential tax treatment for the...more

WilmerHale

Cross-border information-sharing - insubstantial guidance for UK corporates

WilmerHale on

On 12 May 2020 the UK belatedly published its statement on cross-border information-sharing within corporate groups (the Statement). This one-page document primarily consists of general acknowledgements of the importance of...more

McDermott Will & Emery

District Court Judge Highlights FCPA's Limits

A recent US District Court for the District of Connecticut decision reveals the practical limits of the Foreign Corrupt Practices Act (FCPA) in cases involving foreign nationals, foreign conduct and complex multinational...more

White & Case LLP

US v. Hoskins: FCPA Guilty Verdict Overturned as Court Gives Definition to the Term "Agent"

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In November 2019, we reported that a jury found Lawrence Hoskins, a senior executive at a French company, guilty of Foreign Corrupt Practices Act ("FCPA") violations. Two years earlier, the District Court granted dismissal of...more

Society of Corporate Compliance and Ethics...

Ericsson agrees to pay more than $1 billion to settle FCPA case

CEP Magazine (February 2020)  - A subsidiary of Telefonaktiebolaget LM Ericsson, Ericsson Egypt Ltd., pleaded guilty on December 6 to a one-count criminal information charging it with conspiracy to violate the anti-bribery...more

Faegre Drinker Biddle & Reath LLP

All in the Corporate Family: Attorney-Client Privilege Applies Between Parent and Subsidiaries

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

Robinson+Cole Manufacturing Law Blog

Conviction of Foreign Employee Reinforces Broad Geographic Reach of FCPA

Last week, a jury found a former executive of a French multinational company guilty of violating the Foreign Corrupt Practices Act, money laundering, and conspiracy in connection with alleged bribery in Indonesia....more

Society of Corporate Compliance and Ethics...

Malaysian authorities widen investigation into Goldman Sachs

CEP Magazine (November 2019) - Malaysian Attorney General Tommy Thomas filed criminal charges against an additional 17 employees of Goldman Sachs in connection with the 1Malaysia Development Berhad (1MDB) scandal....more

Orrick, Herrington & Sutcliffe LLP

[Webinar] How Foreign Companies with U.S. Subs Can Win Dismissals from U.S. Litigation: Underused Defenses Based on...

Non-U.S. companies are routinely sued in the U.S. over disputes principally or exclusively involving their U.S. subsidiaries. In many instances, these non-U.S. companies should not even have their cases litigated in U.S....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

The “Fake President” Fraud: What It Is and How Multinational Companies Can Protect Themselves

Have you heard of the “fake president” fraud? Despite the name, it has nothing to do with politics; it is a worldwide financial scam that has affected hundreds of multinational companies, especially companies in Europe. ...more

Williams Mullen

Company Incurs $7,772,102 Penalty for Dealing With Specially Designated National

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A U.S. company was recently charged with major sanctions violations when its foreign subsidiary entered business transactions with a party listed on the Specially Designated Nationals List. This is a reminder of the...more

Burns & Levinson LLP

The Death of the Deemed Dividend

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The “deemed dividend” rule, the source of much wrangling between multi-national borrowers and lenders over the years, may be on its way out....more

Dorsey & Whitney LLP

How to Handle a #MeToo Moment: Legal, Language and Cultural Tips

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Background: As the #MeToo Movement continues, Chinese-owned companies in the U.S. and Chinese subsidiaries of U.S. companies are facing an increasing number of sexual harassment complaints from their employees. This Q&A aims...more

Eversheds Sutherland (US) LLP

Shortening the long arm of the law - the Second Circuit limits the extraterritorial reach of the Foreign Corrupt Practices Act

On August 24, 2018, the US Court of Appeals for the Second Circuit in United States v. Hoskins rejected the government’s broad reading of the Foreign Corrupt Practices Act (FCPA) and ruled that a foreign national without ties...more

Latham & Watkins LLP

Cross-Border Financing: Taxpayer Wins on Characterization of Intercompany Debt Transaction

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Certainty regarding characterization of intercompany transactions remains a priority after US tax reform, opinion highlights importance of established pattern of conduct. On August 6, 2018, the US Tax Court decided...more

Jones Day

Australian Senate Economics Committee Hands Down Report on Corporate Tax Avoidance

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The Commonwealth Senate Economics Committee (a standing committee composed by members of the upper house of Parliament) handed down its long-awaited final report on corporate tax avoidance in Australia. The final report is...more

Dechert LLP

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

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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

BCLP

GDPR’s Most Frequently Asked Questions: What Does It Mean To Be “Established” In The EU?

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The European Union General Data Protection Regulation (“GDPR”) is arguably the most comprehensive – and complex – data privacy regulation in the world. As companies prepare for the GDPR to go into force on May 25, 2018, there...more

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