Mondaq Most Recent Articles-21 November 2008

Offshore: Company Formation FAQ on Cyprus brought to you exclusively from Andreas Sofocleous & Co FAQ for company formation in Cyprus.	False Advertising FAQ on United States brought to you exclusively from Patterson Belknap Webb & Tyler LLP Frequently asked questions on false advertising.
Labour Law FAQ on Germany brought to you exclusively from Schneider Schwegler Frequently asked questions about Labour law in Germany.	Offshore: Trusts FAQ on Mauritius brought to you exclusively from Multiconsult A definitive guide to the offshore trust market through questions and answers.
Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP Can private actions be configured as class actions?	Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP We are charity set up to preserve wildlife and educate the public about it. We are starting a trading operation. We will be selling wildlife related books and other unrelated items to generate income. We expect to make a profit, will this be liable for tax?
Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP What is the effect of confirmation of the plan on the company and on existing creditors and equity holders? Can a plan be enforced notwithstanding objections of creditors?	Insolvency FAQ on United States brought to you exclusively from Duane Morris LLP What practical issues are raised by the need to call present and ex- employees as witnesses in litigation? Can/should an unwilling witness be subpoenaed? What practical steps can a company take to protect its position in this regard?
Can An Executory Contract Lose Its Executoriness? "Maybe," Says The Second Circuit Jones Day The ability of a chapter 11 debtor-in-possession ("DIP") or bankruptcy trustee to assume or reject unexpired leases or contracts that are "executory" as of the bankruptcy filing date is one of the most important entitlements created by the Bankruptcy Code.	Hatch-Waxman Safe Harbor Inapplicable To Research Tools Foley Hoag LLP In a decision that will have far reaching implications for drug and medical device development, the Court of Appeals for the Federal Circuit held yesterday that the Hatch-Waxman safe harbor of 35 U.S.C. § 271(e)(1) is inapplicable to patented research tools that are not themselves subject to the FDA review process.
Guernsey´s Finance Industry Performing Robustly GuernseyFinance Guernsey's finance industry is continuing to perform robustly despite the credit crunch, according to Peter Niven, Chief Executive of Guernsey Finance.	NYSE And NASDAQ Amend Director Independence Bright Line Tests Mayer Brown The New York Stock Exchange and the NASDAQ Stock Market have modified several of their bright line tests for determining director independence pursuant to their respective corporate governance listing standards.
New Law Reforms Consumer Product Safety Standards And Reauthorizes The CPSC Goodwin Procter LLP On August 14, 2008, the President signed into law H.R. 4040, the Consumer Product Safety Modernization Act (“CPSMA”). This Act amends the Consumer Product Safety Act (“CPSA”) and addresses several product safety issues, including the safety of children’s products, the regulation of imported consumer goods and third-party testing requirements.	Climate Change & CEQA, GHG Emissions, Effects & Compliance:"TBD" LEWIS, BRISBOIS, BISGAARD & SMITH LLP Almost two years ago, AB 32 was adopted. Effective Jan. 1, 2007, this law thrust California to the international forefront in the realm of global warming.
SEC Provides Guidance Regarding Use Of Company Websites To Disclose Information For Investors Duane Morris LLP The Securities and Exchange Commission (the "SEC") has published an interpretive release, Commission Guidance on the Use of Company Web Sites, Release No. 34-58288 (the "Release"), providing guidance to companies and issuers of securities on the use of company websites to disclose information to investors.	Taxman On The Audit Run RSM Chio Lim We would like to alert clients of the recent stepped up audits by IRAS on past tax filings and relevant financial statements. Such queries are generally raised via IRAS' desk or field audits.
A USCIS Epiphany - Musings On F-1 STEM Workers And The Out-Of-Luck Programmers Guild Paparelli & Partners LLP Chalk up one for USCIS and a Federal Judge. The agency's 17-month extension of F-1 optional practical training has survived a motion for preliminary injunction sought by the Programmers Guild.	Environment Canada Unveils Draft Offset System For Greenhouse Gases Borden Ladner Gervais LLP This Climate Change Bulletin is part of a series that is prepared periodically by BLG's Climate Change Group to alert our clients to emerging issues and initiatives that are relevant to their businesses and strategic interests.
Moral Hazard: Proposed Extension Of Pensions Regulator’s Powers Nabarro The UK government has published consultation on controversial changes to the moral hazard powers of the Pensions Regulator.	New Data Protection Rules Nabarro On April 19th , a new Data Protection Regulation entered into force, developing the Spanish Data Protection Act, which is the law by means of which the European Directive 95/46/CE was implemented in 1999 in Spain.
Shock As Information Commissioner Deems Data Protection Laws "Not Fit For Purpose" Nabarro Richard Thomas, the Information Commissioner, claimed in a privacy conference in Cambridge on 8 July 2008 that Europe's data protection laws are "no longer fit for purpose".	The Turning Tide: New Data Protection Provisions Nabarro The Criminal Justice and Immigration Act 2008 (the "Act") was given royal assent on 8 May 2008.
The CNIL Reports On Employees’ Files’ Declarations Nabarro The CNIL very recently announced on its website that it has performed investigations into approximately fifty companies in order to check if they respect their obligations in terms of the protection of their employees’ personal data.	Search Engines: Do Not Keep Users’ Data More Than 6 Months! Nabarro In a recommendation adopted on April 4, 2008, the Article 29 Working Group (gathering all European Union national authorities competent on matters concerning personal data, of which the Commission Nationale de l’Informatique et des Libertés, or CNIL, is a member) detailed rules applicable to search engines.
Current E-Discovery Trends Duane Morris LLP By now, practically everyone even remotely involved in litigation in the United States knows that discovery of electronic information, E-Discovery, has become a very big deal, especially in light of related amendments to the Federal Rules of Civil Procedure enacted more than a year ago.	Oystercard Maker Fails In Legal Attempt To Prevent Students Publishing Details Of Oystercard Hacking Nabarro Dutch chip maker NXP has lost their Dutch court battle to obtain an injunction in an attempt to prevent students from the University of Nijmegen in the Netherlands from publishing the results of a study into the security of the Oystercard.
EPA Self Disclosure Policy Encourages New Owners To Report Pre-Existing Environmental Violations Waller Lansden Dortch & Davis On Aug. 1, 2008, the Environmental Protection Agency (EPA) announced a new policy designed to motivate owners to audit newly acquired facilities, and disclose and correct violations of environmental laws.	Assembly Bill 3000 Introduces Physician Orders For Life-Sustaining Treatment To California Foley & Lardner On August 4, 2008 California Governor Arnold Schwarzenegger signed Assembly Bill (A.B.) 3000 into law.
2008 Tennessee Employment Legislation Review Miller & Martin “Unlike last year's Nonsmoker Protection Act, there were no major headline grabbers in the employment legislation that was passed by the Tennessee General Assembly this session. However, the legislature did consider several bills affecting Tennessee employers. The following is a summary of the more significant bills enacted into law."	Venture Capital Survey Silicon Valley Second Quarter 2008 Fenwick & West LLP We analyzed the terms of venture financings for 108 companies headquartered in the San Francisco Bay Area that reported raising money in the second quarter of 2008.
Rent-A-Captive Tax Treatment Demystified Anderson Kill & Olick, P.C. Captive insurance companies are now popular for tax planning in addition to risk management. In response, the IRS has developed an increasingly sophisticated set of standards for determining what is insurance over the past few years.	Protecting Client Information Via Federal Rule 26(c) Miller & Martin Businesses dislike litigation. There are a number of reasons for this, such as cost, risk of loss, and disruption of normal business operations.
Google Ordered To Reveal Users´ YouTube Viewing Habits Nabarro A US judge presiding over a copyright infringement case against Google has issued a decisive judgment which will have worldwide implications for users of the video-sharing internet site YouTube.	The Sky´s The Limit For Cloud Computing – Maybe Not! Nabarro "Cloud" computing is the term used to describe the utilisation of the internet for the purpose of storing and processing data using online technology services.
Search Engines: Host Or Publisher? Nabarro On July 3, 2008, the Tribunal de Grande Instance of Paris ruled that search engines were to be considered as hosts, therefore rejecting the qualification of publisher and liability deriving thereof by law.	BERR Consults On EU Telecoms Reform Proposals Nabarro The Department for Business, Enterprise and Regulatory Reform (BERR) has published a consultation paper on the European Commission's proposals to reform the EU Telecoms Regulatory Framework.
Past And Present Difficulties In Turkish Competition Policy ADMD At the Helsinki European Council in December 1999, the Republic of Turkey was officially recognized as an accession candidate country to join the European Union. Negotiations pertaining to accession talks include Turkey’s competition policy.	FDIC And Treasury Department Guidance May Spur Growth Of U.S. Covered Bond Market Katten Muchin Rosenman LLP In response to the developing housing turmoil and credit crisis, which continues to restrict the securitization of residential mortgage loans, U.S. federal regulators have issued guidance regarding a potential alternative method of on-balance sheet financing of these loans—covered bonds.