Integration of foreign company operations in China requires careful planning to balance the need for tax efficiency (in a changing tax environment) with employee rights, operating cost savings and more. Beijing tax partner Jon Eichelberger and special counsel Jinghua Liu look at ten key issues.
A US appeals court has reversed its 2002 Winter Storm decision that allowed third parties outside the US to attach electronic funds transfers handled through intermediary banks in New York, removing a source of uncertainty and disruption in international commerce. New York partners Lawrence Newman and David Zazlowsky report.
Following a record year for FCPA prosecutions, US officials continue to step up enforcement of the far-reaching statute. To avoid increasingly stiff penalties, global companies need strong training programs to ensure employees, third-party agents and distributors comply. Washington DC partner Elizabeth Stern explains.
The Hong Kong government has begun public consultation on proposals for a corporate rescue regime for companies facing short-term financial difficulties. As partners from our Financial Restructuring & Insolvency Practice explain, the proposals borrow heavily from the UK and Australia’s voluntary administration regimes.
Russia’s new bankruptcy laws expose CEOs and shareholders to unlimited subsidiary civil liabililty in addition to administrative and criminal liabilitiesif they fail to file for bankrutpcy in a timely manner or maintain incomplete or inaccurate books, among other things. Our Moscow partners explain.
For the first time, Japan’s Fair Trade Commission has fined non-Japanese participants in a cartel, sending a clear signal to foreign companies that they can be pursued for anti-competitive conduct under a broader definition of what constitutes “Japanese sales.”
Parties to transactions where different layers of debt are regulated by priority agreements that switch priority between parties may want to monitor developments in a case in the Lehman Brothers insolvency, report London partners Louise Webb and Peter Knight.
Expect more formality at virtual signings (or closings) for transactions in the UK. And take extra care to ensure that it is clear which version of a document signatures relate to. London associate Jeremy Levy reports a controversial case and how it is affecting the execution of transactions.
As economic problems persist, the role of trustees has become more prevalent and crucial in distressed and defaulted transactions. London partner Simon Porter offers insights into the challenges trustees are facing and early lessons learned about ways to improve the system.
Vietnam plans to establish a new agency that will edit and translate all foreign programs, including live sporting events, before they air on pay TV, special counsel Elizabeth Nightingale and partner YeeChung Seck of our Vietnam offices explain.
Companies operating in the US need to make sure they have the necessary equipment and monitoring and recordkeeping systems in place to comply with new greenhouse gas emissions reporting rules. Chicago partners Richard Saines and Steven Murawski explain.
Participating, even unwittingly, in accounting fraud may expose you to clawback provisions under Sarbanes-Oxley, requiring you to return bonuses paid on revenue generated by the fraud. Our US Corporate & Securities lawyers offer one CEO's cautionary tale.
Since the enactment of its first competition law package in 1996, Russia law has made significant progress towards unification with competition legislation in the developed countries. With the recent enactment of what are called the “second anti-monopoly package of laws,” the Russian Anti-Monopoly Agency has begun to transition to being an active industry regulator. Partners Marat Mouradov and Ivan Smirnov explain the new laws and what they mean.
Foreign institutions that wish to sell information that could influence China’s financial markets need to meet new guidelines with respect to their creditworthiness and business processes and be willing to share customer contracts with the government, explain lawyers in our China offices.
Companies buying assets involving the transfer of employees covered by EU TUPE protections should draft the purchase agreement to limit exposures to equal pay claims in the event employees who remain with the seller are eventually paid more to do the same work. Our London partners explain.
Doing business with Chinese consumers via the Internet generally requires companies to consider a local presence and, in many cases, local partners. It is a challenging regulatory environment with major pitfalls for the uninformed. Palo Alto partners Lothar Determan and Alan Marson review the issues.
The US SEC is stepping up efforts in holding executives accountable for foreign corruption activities even when undertaken by third parties. Associate Maria McMahon tells a cautionary tale of one US executive's case.
Civil Justice Reforms in Hong Kong are encouraging parties to use mediation and ADR, and could expose those who resist to sanctions, lawyer in our China office explain.
China's new rules on the tax treatment of corporate reorganizations present substantial opportunities for internal restructurings that many companies are contemplating in challenging economic times. Partners Jon Eichelberger and Brendan Kelly explain how transactions can qualify for special tax-free treatment.
Financial institutions contemplating joint ventures, acquisitions and consolidations need to consider whether their transactions will require antitrust filings in China and, if so, set aside plenty of time for review. The Ministry of Commerce has clarified who needs to file.
In cross-border insolvencies, knowing where a company’s center of main interests (COMI) is located is key to evaluating insolvency risks, assessing clawback claims and more. A European Court of Justice decision sheds new light on how to apply the UNCITRAL Model Law, partners in our London office report.