The Anti-Corruption Law entered into force in Brazil last month. Under the new law, parent companies, subsidiaries, other affiliates and consortiums are jointly and severally liable for payment of fines and indemnification of damages resulting from unlawful acts. Read this article for further discussion of the main matters covered by the new law. This article is also available in Portuguese:
<p><a href=" http://www.acc.com/legalresources/resource.cfm?show=1359561">The Brazilian Anti-Corruption Law Comes Into Effect (Portuguese)</a></p>
Read this blog entry by David Davieson regarding the Federal Court of Appeal decision in JP Morgan Canada Asset Management v. AG Canada.
On November 4, 2013, the US District Court for the Northern District of California denied a motion filed by a company to dismiss a lawsuit brought by a former Libya-based employee. This decision ended the company's unsuccessful attempts to remove to the Libyan judicial system a complaint filed in US federal courts. The ruling, and a companion decision issued two months earlier, serves as a reminder of the need to include well-crafted forum selection clauses in employment agreements, particularly in the international context.
Last year, the Shanghai High People's Court rendered final judgment on an antitrust dispute between two Johnson & Johnson subsidiaries in China and their former distributor in Beijing. The judgment, which overturned a lower court ruling, held that the two subsidiaries were liable for damages resulting from attempts to enforce a vertical monopoly agreement against the distributor. As the first antitrust judgment relating to vertical monopoly agreements in China, the case signals the stance of the Chinese courts towards vertical trade restraints and provides guidance for future cases.
The Court of Justice of the European Union (CJEU) released its judgment today in the Crédit Lyonnais case (C-388/11), finding that in determining the deductible proportion of VAT applicable, a company, the principal establishment of which is situated in a Member State, may not take into account the turnover of its branches established abroad.
The Dutch Supreme Court decision of 5 April 2013, LJN BY8101 (Lundiform/Mexx), gave an important ruling about the interpretation of commercial contracts that potentially reduces commercial certainty. The ruling reduces the emphasis on the specific wording of a contract, even if it contains an “entire agreement clause” and makes it clear that the courts will consider other factors if it can be shown that the contract does not express the parties’ intentions.
In a robust decision handed down by the English Court of Appeal, Novartis has been awarded an interim injunction against Hospira to prevent sales of generic zoledronic acid in the UK despite Novartis’ patents having been declared invalid by the English High Court. The Court of Appeal judgment represents a significant victory for Novartis and other innovators. This article discusses how this decision impacts innovators and generic companies alike, as well as the practical steps that parties should consider prior to the launch of a generic product.
Material Adverse Change clauses are common in credit agreements, but are rarely interpreted by the courts. This article reviews cases when a lender’s knowledge of pre-existing financial circumstances at the time of granting credit is considered when assessing whether a material change has occurred.
Case C-402/11P Jager & Polacek GmbH v OHIM (18 October 2012) highlights the importance of having clear regard for the procedural rules governing procedures at OHIM, that OHIM is clearly an institution of the EU, and that its acts should be treated as such.
Today, more cases are going to trial for shorter durations. In such a scenario, lawyers must present information to jurors in a concise, streamlined manner; in essence, they must become masters of the short story. This article explores the benefits of compressed trials and offers practitioners insight into how they can tailor their strategies to ensure a positive outcome for their clients.