In a recent Legal Update[1], we discussed the emerging intersection between Tax and ESG and highlighted the various external stakeholders pressuring for greater visibility into the global tax positions of multinational companies (MNEs). One increasingly vocal stakeholder group is activist shareholders. Recently, a group of institutional investors of a Fortune 50 company initiated a shareholder proposal calling for the company to publicly disclose where and how much tax it pays around the world. This is only the latest in what … Read the rest
On March 11, 2022, President Joseph Biden issued an Executive Order (EO) announcing further prohibitions on imports, exports and new investments related to Russia. This announcement was made at the same time that the president and the other G7 leaders of Canada, France, Germany, Italy, Japan and the United Kingdom, as well as the European Union, announced new economic actions which will revoke Russia’s “Most Favored Nation” status (see Update of March 12, 2022) and efforts to deny borrowing … Read the rest
It has been almost three weeks since the U.S. and its allies began imposing serious new sanctions and export control restrictions on Russia and Belarus in response to Russia’s invasion of Ukraine. This post summarizes the state of affairs as of Friday, March 11, 2022.
Please reach out to our team if you have any questions about these or future developments.
Current Status & What’s New
The current sanctions measures still do not amount to a full embargo on Russia, and Russia has … Read the rest
On March 2, Deputy Assistant Attorney General Richard Powers laid out a significant and aggressive criminal enforcement agenda for the Antitrust Division of the Department of Justice. While speaking at the the ABA National Institute on White Collar Crime in San Francisco, CA, Powers began his remarks by noting that the Division’s Criminal Section currently had 18 indicted cases against 10 companies and 42 individuals, including 8 CEOs or Presidents. DAAG Powers also noted that the Section had 146 open … Read the rest
Jump To: Table of Contents | Civil Decisions | Short Civil Decisions
Good afternoon.
Following are this week’s summaries of the civil decisions of the Court of Appeal for Ontario for the week of February 28, 2022.
In Gefen Estate v. Gefen, an estates case, the Court reiterated that while the quality of evidence may vary depending on a claim, the civil standard of proof will always remain the same: proof on a balance of probabilities. The issues canvassed … Read the rest
Last week this author delved into what has become known as the “Texas Two-Step,” the arguments for and against its permissibility and the broader implications for the bankruptcy system. The discussion focused on an ongoing trial on motions filed in the bankruptcy case of LTL Management, LLC (“LTL” or the “Debtor”), a Johnson & Johnson (“J&J”) subsidiary, by the Official Committee of Talc Claimants and several other parties, seeking an order dismissing the Debtor’s case pursuant … Read the rest