The Supreme Court of Virginia, in Francis v. National Accrediting Commission of Career Arts & Sciences, Inc., No. 160267 (Feb. 23, 2017), reaffirmed that the public policy exception to Virginia’s employment at-will doctrine is a narrow one.  In Francis, the court held that to state a valid claim of wrongful termination based on public policy, an employee must allege either that the termination itself violated the public policy stated in the relevant statute, or that the employer prevented the...

Both IAS 1 ‘Presentation of Financial Statements’ and IAS 10 ‘Events after the Reporting Period’ suggest that a departure from the going concern basis is required when specified circumstances exist. Neither Standard however provides any details of an alternative basis of preparation and how it may differ from the going concern basis. Entities will therefore need to develop an appropriate basis of preparation. This IFRS Viewpoint addresses some of the issues that entities will face when doing so. When is...

Rapid developments in technology, regulation and politics are changing the way organisations do business and we can expect more changes to come in the years ahead. These pose some interesting questions. How should businesses react in such uncertain times? How can policymakers create the right environment to help them to flourish? In simple terms, what should Britain’s post-Brexit economy look like? A new economy is needed. One which makes the most of Britain’s talents, skills and entrepreneurialism across the entire...

On Wednesday, March 15, 2017, the U.S. District Court for the District of Hawaii issued a temporary restraining order (TRO) blocking implementation of key portions of the second version of the executive order (EO) issued by President Donald Trump banning entry into the United States by nationals of six designated countries: Iran, Libya, Somalia, Sudan, Syria, and Yemen. President Trump issued the revised EO on March 6, 2017 in an effort to avoid the issues that had led a...

2016 Highlights We are pleased to present WSGR’s 2016 Highlights, a compilation of select accomplishments achieved on behalf of the firm’s clients and representative examples of our commitment to our communities, philanthropy, diversity, and pro bono work. As in previous editions of our annual highlights, we have tried to share as broad a range of practices and successful matters as possible, knowing we simply cannot include all the remarkable happenings that have transpired in the past year. While we reflect on...

Accelerate" is the theme of the 2016 Integrated Annual Report of ING Groep N.V. (IAR) that is published today, together with the Annual Report of ING Bank N.V.. The theme reflects the accelerating pace of change in technology and other areas that is impacting our customers' lives and their expectations from financial service providers. It also expresses how we, as digital leaders in banking, are accelerating the Think Forward strategy to ensure we continue to provide customers with a...

ING will propose to the 2017 Annual General Meeting (AGM) on 8 May 2017 to appoint Koos Timmermans and Steven van Rijswijk as members of the Executive Board. Upon appointment they will also become members of the Management Board Banking of ING. Koos Timmermans will become chief financial officer as of the date of the AGM, succeeding Patrick Flynn who has decided to pursue his career outside of ING. Steven van Rijswijk will become chief risk officer as of...

DS-Concept USA provides $3,500,000 non-recourse factoring facility to a niche manufacturer of officially licensed consumer products in the gaming industry. Rather than injecting more equity to support their portfolio company’s growth, the PE group is using DS-Concept to free up an additional $3,500,000 in working capital by financing the company’s domestic and foreign AR. In addition to increasing  the company’s working capital, DS-Concept’s global footprint strengthens the company’s credit and collections capabilities overseas, ultimately allowing them to be more aggressive in foreign...