Civil Law

Professors Call for Saudi Appraisal Rights Along with Other Companies Act Reforms

We have previously covered (thanks to a guest post) that Saudi Arabia does not have appraisal rights, though its Companies Law provides for a number of other shareholder rights. Is it time for a change?

Professors Alhasani and Hassan of Prince Sultan University say “yes.” In a comprehensive paper in the International Journal for Scientific Research, the two professors call for the Saudi Companies Law to add explicit appraisal rights, along with a number of other suggested changes. Get the … Read the rest

Civil Law

CFPB Spring 2024 Supervisory Highlights looks at consumer reporting companies and furnishers

The CFPB has released the Spring 2024 edition of Supervisory Highlights.  The report discusses CFPB examinations in connection with credit reporting and furnishing that were completed from April 1, 2023 through December 31, 2023.

Key findings by CFPB examiners are described below.

Examinations of credit reporting companies (CRCs) found the following deficiencies:

  • CRCs failed to timely implement blocks of information after receiving the requisite information relating to an alleged identity theft, without otherwise making a reasonable determination with respect to
… Read the rest
Supreme Court

Oil companies, government point fingers over cleanup of World War II-era pollution

Oil companies, government point fingers over cleanup of World War II-era pollution

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The Petitions of the Week column highlights a selection of cert petitions recently filed in the Supreme Court. A list of all petitions we’re watching is available here.

During World War II, Congress authorized President Franklin Roosevelt to enlist oil refineries for the war effort. Centralization helped meet the war’s rapidly increasing demand for fuel. But it also led to a glut of hazardous waste, some of which leaked into the ecosystems surrounding the refineries. This week, we … Read the rest

Civil Law

EU BANS PRODUCTS MADE USING FORCED LABOUR – WHAT SHOULD COMPANIES EXPECT?

On March 5, 2024, the European Parliament and the Council of the European Union reached a “political agreement” on a Regulation prohibiting products made with forced labour (“the EU Forced Labour Regulation” or “the EUFLR“) on the European Union (“EU“) market (see Insight of 6 March 2024 hhttps://www.mayerbrown.com/en/insights/publications/2024/03/eu-political-agreement-on-forced-labor-product-ban). The EUFLR prohibits companies from “placing and making available” on the EU market, or exporting from the EU, products made with forced labour.

Continue reading at Mayerbrown.com.

LexBlog… Read the rest

Supreme Court

Justices clear the way for Louisiana wetlands trial against oil companies to go forward

Justices clear the way for Louisiana wetlands trial against oil companies to go forward

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The Supreme Court on Tuesday morning declined to put a Louisiana trial seeking compensation for the “existential threat” posed by coastal land loss on hold while the defendants in the case, a group of oil companies, seek review of a state court decision rejecting their request to transfer the case. The oil companies had argued that they cannot get a fair trial in the court where they are being sued because any awards against them will go to the … Read the rest

Supreme Court

Biden asks justices to block limits on collaboration with social media companies

Biden asks justices to block limits on collaboration with social media companies

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The Biden administration on Thursday afternoon asked the Supreme Court to temporarily block a lower court’s order that would limit its ability to communicate with social media companies over content moderation policies. U.S. Solicitor General Elizabeth Prelogar told the justices that if the “unprecedented” order is allowed to stand, it would put a Louisiana district judge in charge of overseeing the executive branch’s communications with social media companies.

Shortly after receiving the government’s request, Justice Samuel Alito — who … Read the rest

Civil Law

Companies now have 10 business days to file changes to their corporate information

On 24 May 2023, the Minister of Trade, Industry and Competition published the Companies Amendment Regulations, 2023 (Amendment Regulations). The Amendment Regulations were drafted in consultation with the Companies and Intellectual Property Commission (CIPC) to align the Companies Regulations with the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 (General Laws Amendment Act). The General Laws Amendment Act amended four pieces of legislation, including the Companies Act, 2008 (Companies Act), in an effort to avoid or help overcome … Read the rest

Civil Law

Senators Urge State AGs to Protect Consumers From Cash Homebuying Companies

On June 13, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra provided the CFPB’s semiannual report to Congress, which included concerns about predatory house-flipping practices by companies like HomeVestors. Afterwards, Senate Subcommittee on Housing, Transportation, and Community Development Chair Tina Smith (D-MN) and Senate Ranking Member Lummis (R-WY) sent a letter to the National Association of Attorneys General (NAAG), requesting a coordinated effort to prevent cash homebuyers from entrapping sellers into unfair contracts.

HomeVestors is accused of targeting and deceiving … Read the rest