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|ISS Proposes 2015 Policy Updates: No Proposal on Unilateral Bylaw Amendments; U.S. Policy Changes Would Introduce Uncertainty for Independent Chair Shareholder Proposals and Implement a Scorecard for Equity Plan Proposals|
Sullivan Cromwell LLP;
October 19, 2014, previously published on October 16, 2014Yesterday, Institutional Shareholder Services, the proxy advisory firm, published proposed changes to its proxy voting guidelines for the 2015 proxy season. The proposals applicable to U.S. companies are limited and do not include any proposed change relating to unilateral bylaw amendments. ISS had...
|Association Law: Pay Attention to Fiscal and Legal Aspects When Establishing an Association|
Michael Rainer, Michael Rainer; GRP Rainer LLP;
October 17, 2014, previously published on October 17, 2014An association is frequently established as a way of pooling the strengths of individuals to form a strong special interest group. Legal and fiscal aspects must be observed when establishing an association.
|Commercial Indemnity Provisions: The Devil’s in the Detail|
Kenra Parris-Whittaker, Kenra Parris-Whittaker, Jacy A. J. Whittaker, Jacy A. J. Whittaker; Parris Whittaker;
October 17, 2014, previously published on October 17, 2014The practical effect of indemnity provisions in commercial contracts is dependent upon the detail in their drafting, an important ruling has confirmed. The commercial lawyers at Bahamas law firm ParrisWhittaker are experts in drawing up commercial contracts and can advise you now on your contracts.
|Joint Ventures - Protecting With Contract Terms|
Kenra Parris-Whittaker, Jacy A. J. Whittaker; Parris Whittaker;
October 17, 2014, previously published on October 17, 2014Joint ventures take many different forms but few have such an unusual background as a recent dispute involving what started as a simple agreement. The commercial lawyers at Bahamas law firm ParrisWhittaker are experts in drawing up robust joint venture contracts.
|Judgment of Tokyo District Court: Application of a General Anti-Avoidance Rule Concerning Reorganization Transactions|
October 16, 2014, previously published on October 2014On March 18, 2014, the Tokyo District Court affirmed corporate tax assessments against two tax payers: Yahoo Japan Corporation ("Yahoo Japan"), a Tokyo Stock Exchange listed company, and IDC Frontier Inc. ("IDCF"), a wholly owned subsidiary of Yahoo Japan.
|Attorney-Client Privilege No Shield to Stockholder’s Demand for Internal Review Documents, Delaware High Court Rules|
Jackson Lewis P.C.;
October 16, 2014, previously published on October 3, 2014Upon a showing of good cause, a stockholder could overcome a corporation’s attorney-client privilege when suing the corporation for acting contrary to the stockholders’ interests, the Delaware Supreme Court has ruled. Wal-Mart Stores, Inc. v. Indiana Electrical Workers Pension Trust...
|No Corporate Income Tax on an Undervaluation of Shares Acquired by Belgian Holding Company|
October 16, 2014, previously published on October 2014Following a very long and winding road in several courts, it has finally been confirmed that Belgium cannot impose corporate tax on any undervaluation of or underpayment for shares acquired by a Belgian corporate taxpayer. Thus, when a Belgian corporation buys shares at a price below fair market...
|Court Allows Contracts that Limit an Employee’s Time to Sue|
Lawrence C. Weiner; Wilentz, Goldman & Spitzer P.A.;
October 16, 2014, previously published on October 2014In a victory for employers, New Jersey’s Appellate Division ruled that an employee is bound by his agreement set forth in his employment application to shorten the two-year statute of limitations applicable to claims against his employer to six months. In Rodriguez v. Raymours Furniture...
|Political Activities and the Law: Mitigating Risks for Corporations and Nonprofits|
Kirk L. Jowers, Trevor Potter, Matthew T. Sanderson; Caplin & Drysdale, Chartered;
October 15, 2014, previously published on October 15, 2014Over the past few years, the political law landscape has changed dramatically for those engaging in political activities, including for-profit corporations, nonprofit entities, and their principals. Mismanagement of these activities can cause considerable harm to individuals and organizations in...
|Managing Employee Terminations Checklist|
Kellianne T. Baranowsky, Hollis Gonerka Bart, John A. Farnsworth, Brooke A. Schneider; Withers Bergman LLP;
October 13, 2014, previously published on October 2, 2014A thorough review of an employee’s personnel file, before making a decision to terminate, allows the employer to make an informed termination decision with managed risk. For example, what rights and obligations does the employer have under the employment documentation? Is there sufficient...