The Act of 10 August 2016 modernising Luxembourg company law and amending the Act of 10 August 1915 on commercial companies (the "Act") has clarified the rules applicable to the issuance of convertible debt instruments. 1. General rules The issuance of convertible bonds by a Luxembourg-based company is subject to the rules laid down in Articles 84 to 94-8 of the Act. The issue documentation can, however, derogate from these rules, at the company's choosing. These rules can be applied in whole...

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Fast application processing, enhanced customer service now available for companies    When companies in Canada can thrive and grow, they create more jobs. The Government of Canada’s new Global Skills Strategy will give employers a faster and more predictable process for attracting top talent and new skills to Canada, creating economic growth and more middle-class jobs for Canadians.  Today, Immigration, Refugees and Citizenship Minister Ahmed Hussen, Innovation, Science and Economic Development Minister Navdeep Bains and Rodger Cuzner, Parliamentary Secretary to the Minister...

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BY MICHAEL J. LOTITO AND ILYSE SCHUMAN ON JUNE 7, 2017 In a three-sentence press release, Labor Secretary Alexander Acosta announced the withdrawal of two Wage and Hour Administrator's Interpretations (AIs) on joint employment and independent contractors. While the AIs were not binding law, they did represent a significant shift in wage and hour law advocated by the prior administration, and served as the Wage and Hour Administration's (WHD) justification for taking certain enforcement actions. While the AIs' rescission is being...

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On June 17, Finland celebrates her 100th Birthday on the National Mall. The family-friendly Midsummer FinFun event is open and free for everybody. The Embassy of Finland in Washington, D.C., celebrates Finland's centennial throughout the year. One of the biggest events, the Midsummer FinFun, will take place on Saturday, June 17 on the National Mall. The prestigious location will allow for an unforgettable, family-friendly celebration. The day will be full of Finnish sports and other outdoor activities in the spirit of...

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The Luxembourg Act of 10 August 1915 on commercial companies (the "Act"), as amended by the Act of 10 August 2016, now provides that the debt-to-equity swap rules set out in Article 94-2 et seq. can be applied to any issuance of securities by a Luxembourg or foreign issuer. 1. Opt-in mechanism The rules laid down in Articles 84 to 94-8 of the Act mainly relate to the organization and powers of bondholders' meetings and representatives. Luxembourg and foreign issuers can now...

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The Kokesh decision has the potential to significantly limit the financial sanctions at issue in SEC enforcement actions, especially in the context of the SEC’s enforcement of the Foreign Corrupt Practices Act. For many years, the U.S. Securities and Exchange Commission (SEC) has sought both civil monetary penalties and disgorgement of unlawful gains from those alleged to have violated federal securities laws. While civil monetary penalties are subject to a five-year statute of limitations under the Supreme Court’s 2013 decision...

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The implementation of the OECD’s BEPS Project represents a fundamental change in taxation from the legalistic approach, under which tax minimisation is a generally accepted practice, to the fairness based approach where tax liability in each country should be a fair representation of the economic activities in that country. This shift will cause disagreement on what constitutes fair taxa- tion across countries and result in double taxation through concur- rent multinational audits on cross-country economic activities. Integrated technology solutions will...

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Thursday 1 June 2017 Dear relation, We are pleased to inform you, as a relation of our firm, about the changing of the guard taking place today at NautaDutilh. As our new board, Petra Zijp, Jaap Jan Trommel, and Chris Warner will succeed Erik Geerling and Gaike Dalenoord, who are returning to their law practices. Building on their efforts, we intend to continue to further optimise the services of our firm. We look forward to intensifying our relationship with you, in line...

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