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Member News
Member News
11
Dec
Brexit negotiators aim to salvage a deal by Sunday
After the post-Brexit negotiations reached its latest impasse, all eyes were on UK Prime Minister Boris Johnson and President of the European Commission, Ursula von der Leyen to break the deadlock this week. No deal was struck, and the negotiators have been given until Sunday to find an accord. In a week of political leadership, a high-level political dinner was called on Wednesday night to discuss how best to resolve the ongoing Brexit...
11
Dec
In view of the departure of the United Kingdom from the EU on 1 February 2020 and the forthcoming end of the transitional period on 31 December 2020, the CSSF stated its expectations and rendered some clarifications through a press release published on 7 December 2020.
1) Termination of passporting rights
The CSSF reminds market participants that passporting rights will be terminated as of 31 December 2020 at midnight and therefore be lost as of 1 January 2021. Passporting rights are...
10
Dec
Portugal Open for Business is a campaign developed by aicep Portugal Global focused on promoting strong Portuguese companies established in the United States and Canada that stand out in the areas of innovation, healthcare and technology.
In addition to its privileged geographical position, Portugal ranks exceptionally well in the competitiveness, digitalization and knowledge indexes establishing the Atlantic bridge between North America and Europe. The Portugal Open for Business campaign aims to promote and facilitate business connections between North America and...
10
Dec
Attrition is a major concern for business leaders, and it’s not one which can be easily resolved. When a good employee leaves your organization, you’re not only facing the immediate costs of hiring and training a new employee, the bottom line is also impacted by the internal knowledge that key employees take with them. There are ways to mitigate these costs and risks – such as having a recruitment strategy and talent pipeline in place for backfilling roles and...
10
Dec
On December 1, 2020 the Council of the EU adopted conclusions calling on the Commission to launch an Action Plan by 2021 focusing on shaping global supply chains sustainably, promoting human rights, social and environmental due diligence standards and transparency. In April 2020, the Commission already announced its intention to develop a legislative proposal and published a study on due diligence requirements through the supply chain (see our previous client alert).
The Action Plan should include a call for a proposal from the...
09
Dec
Fashion Law is a growing and emerging legal category that encompasses several other and more traditional legal specialties.
Intellectual Property
Fashion companies protect their brands by filing for state or federal trademark registration. After filing for federal registration, the fashion company owns the exclusive right to use the trademark in the U.S. and the right to use the official registered trademark symbol ®.
If a fashion company believes that its designs are being copied, to prevail in court, the fashion company would...
09
Dec
Who Needs to Know
Companies and individuals negotiating contracts governed by Delaware law.
Why It Matters
In a recent decision, the Delaware Court of Chancery permitted a buyer to escape its obligation to acquire a target from a seller under the parties’ purchase agreement because the target had made extensive changes to its business as a result of the COVID-19 pandemic in violation of the agreement’s ordinary course of business covenant. The court’s holding reaffirms that standard ordinary course of business covenants...
09
Dec
Banks
From January 1st, 2021, UK banks will qualify as non-EU banks and relative provisions will apply.
Accordingly, UK banks shall be authorized by the Bank of Italy to operate in Italy, through a branch or on a cross-border basis.
In addition, UK banks may also be authorized to provide investment services (Bank of Italy having consulted Consob):
towards retail and professional on request clients, only if a branch is established;
towards eligible counterparties and per se professional clients, also on a cross border basis.
If...
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