Civil Law

The Impact of the New Company Law on Insurance Corporate Governance

The newly revised Company Law (“New Company Law”) was adopted at the 7th Session of the Standing Committee of the 14th National People’s Congress on December 29, 2023, and has come into effect on July 1, 2024. This article provides a concise analysis of the implications of the New Company Law for corporate governance in insurance companies, offering insights for readers’ reference.

I. Further Emphasizing Corporate Social Responsibility

The concept of corporate governance has long been debated in narrow and … Read the rest

Circuit Courts

Study Confirms Positive Impact of Early Release Initiative

When a federal judge imposed two concurrent life sentences on Jerome Brough, he sat frozen in disbelief, struggling to comprehend how a non-violent drug-related offense could lead to a lifetime in prison. Yet, through determination, good fortune, and the Judiciary’s increasing use of early release from supervision, Brough is now a free man.
Judiciary News – United States Courts… Read the rest

Civil Law

Why the negative impact of non-competes is overstated (Part 2)

As we discussed in our previous blog on non-competes (as well as other types of restraint of trade), the move to add regulation has been gaining momentum since Federal Treasurer Jim Chalmers announced in August 2023 a Competition Review to examine competition laws, policies and institutions.

Whilst the move to ban non-competes in Australia has been inspired by the U.S. Fair Trade Commission vote to ban non-competes, on 20 August 2024, a Federal District Court in Dallas, Texas, struck down … Read the rest

Civil Law

The Corporate Transparency Act: Will it Impact You?

The Corporate Transparency Act (CTA) will affect most small, privately held businesses starting January 1, 2024. Does the CTA apply to you?

What is the CTA?
The CTA, a law enacted by Congress, will require certain business entities to disclose beneficial ownership information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The purpose of the act is to combat financial crimes, including money laundering, terrorism, human and drug trafficking and tax evasion by creating a centralized … Read the rest

Civil Law

Strauss estimates a greater impact of the Salmonella incident, partly because of consumer lawsuits

The cost of a recall and plant closure due to Salmonella contamination is to be more than initially predicated, according to Strauss Group.

The company updated the estimated damage to net profit for 2022 due to the recall and shutdown of the plant in Nof Hagalil, Israel to a range of Israeli New Shekel (NIS) 290 to 310 million ($ 84.8 to $ 90.7 million).

In May, estimates showed the confectionery recall and closure of the factory would impact net … Read the rest