On the 1st of October 2014, cross-border specialist for online retailers, brands and manufacturers Salesupply, has opened a new office in the US. From here, Salesupply - A EACCNY Member - will start supporting EU and Chinese online retailers to enter the US e-commerce market. “We are the gateway for online retailers to the US and from the US to Europe, China and Brazil,” says Timon van den Berg, Country Manager for the US. After the opening of a Chinese office in...

The U.S. Supreme Court's recent decision in Kiobel v. Royal Dutch Petroleum1 upholding the dismissal of an Alien Tort Claims Act (ATCA) suit, left a great deal unanswered.  The Kiobel decision did, however, limit the potential for future ATCA claims by applying a strong presumption against that statute's extraterritorial application.  There have since been some mixed appellate court decisions regarding the statute's extraterritorial application,2 but a recent decision by the U.S. Court of Appeals for the Ninth Circuit may...

DS-Concept Factoring, Inc., a global commercial finance company specializing in international non-recourse factoring, has provided a $3 million export accounts receivable facility to an automobile parts manufacturer in India. The client, who provides truck and tractor parts to major automobile manufacturers in the USA, and Europe, is implementing this non-recourse factoring facility to free up their local borrowing facilities so they can reinvest in additional inventory and capital expenditure to accommodate growing sales. By working with DS-Concept, the client can now replace the...

With the Capital Requirements Directive IV (CRD IV) now fully implemented into Dutch law, the consequences of the capital requirements set by the Basel III accord are becoming more and more clear. The Basell III accord, which dates back to 2010, requires banks internationally to meet increased capital requirements gradually towards 2019. The reason for Basel III is primarily found in the ineffective functioning of the Basel II accord rules during the credit crunch. In Europe, the Basel III...

The Court of Justice of the European Union (“CJEU”) recently provided further guidance on what constitutes personal data for the purpose of EU law. The CJEU ruled in the joined cases of YS, M, and S v Minister for Immigratie, Integratie en Asiel that the legal analysis contained in an internal document as part of an internal process is not personal data. The decision came following a request for a preliminary ruling by the Dutch courts. The decision is also...

ATLANTA – September 24, 2014 – Ogletree Deakins, one of the largest labor and employment law firms representing management, is pleased to announce that the firm is expanding its international platform by opening an office in Mexico City. The firm has previously opened offices in Berlin, Germany and London, England to meet the growing demand for international legal services. The firm’s new office allows the firm to provide local labor and employment support and solutions for clients with operations in...

In a September 16, 2014 decision which has broad implications for corporate officers, import managers and other persons involved in import operations, the U.S. Court of Appeals for the Federal Circuit found the president of an importing corporation individually liable for customs penalties under the theory that he was responsible for the “introduction” into the United States of under-valued merchandise imported by the company.  The decision, US v. Trek Leather, Inc., can be accessed at https://www.cafc.uscourts.gov/images/stories/opinions-orders/11-1527.Other.9-12-2014.1.PDF. The Customs penalty statute (19....

Some people go to Atlantic City with a fistful of quarters and dreams of instant wealth. Others go down there apparently with a fistful of quarters hoping to come home with the Pier at Caesars. According to September special servicer commentary, recent bids have come in below the latest appraised value of $5.5 million. Nonetheless, the special servicer is still reviewing those offers and is in discussions with potential buyers. The property backs an $80.5 million Pier at Caesars loan that represents 11.3% of MSC...