By Dr. Jorge Marcos García Landa, Corporativo García Landa SC
What constitutes the offence of transactions using funds from illicit sources (known as money laundering)? The most accepted definition is the one approved by the 1988 United Nations Convention Against Illicit Worldwide Traffic in Narcotic Drugs and Psychotropic Substances (Vienna Convention):
By Tracie L. Clabaugh, Offit Kurman
In this ever-changing economy, many companies try to cut costs by: (i) using verbal agreements, (ii) reusing contracts, or (iii) using "form" contracts found on the internet. Entering into a contract is a significant commitment and investment for all parties involved and you and your company need to be adequately protected. Individuals and companies should make it a point to carefully consider all of the issues involved in a transaction prior to entering into a contract.
By Meryl Duval, Associate, Morrison Kent Lawyers, NZ
Should you register subordination agreements on the New Zealand Personal Property Securities Register (PPSR)? A subordination agreement is an arrangement between secured creditors where a creditor having higher priority enters into an arrangement (subordination agreement) which allows a lower priority creditor to leapfrog the higher priority creditor.
By Merrill April, Memery Crystal
Sending employees overseas to international offices is becoming increasingly common in today’s business world. It is essential that the employee’s contract reflects what is expected of him or her in their new role abroad, and specifies the changes in line manager, salary, role, duration of role and other changes.
Robert E. Rudnick and Thomas J. Bean; Gibbons P.C.
Responding to a patent infringement allegation by a patent assertion entity (PAE) can be burdensome and resource-draining to a targeted company and its employees. Despite recent efforts by Congress and the federal courts to curtail frivolous PAE activity, companies remain prone to being targets. In fact, more than 60 percent of the roughly 4,500 patent infringement suits filed nationwide in 2014 were attributable to PAEs. In order to avoid undue burden, it is now increasingly important for target companies to understand their adversaries and develop defense strategies that provide leverage early on. One effective defense tool for generating leverage is the set of Post-Grant Proceedings (PGPs) enacted by the America Invents Act for invalidating patents before the U.S. Patent and Trademark Office (USPTO).
James Dressman, III, Dressman Benzinger LaVelle psc
In a recent decision, the Kentucky Court of Appeals sent a clear message to lending institutions. Namely, to carefully examine existing due diligence practices prior to extending financing to borrowers. The case, Fifth Third Bank v. Rogers et al., concerned five brothers that organized multiple corporations and served as their sole shareholders and directors. After the death of a brother and pursuant to the terms of an existing Stock Purchase Agreement, the deceased brother’s estate offered his stock to the corporations and remaining shareholders. After failing to elect to purchase the deceased brother’s stock, the Estate initiated an action to have the corporations dissolved and their affairs wound up in accordance with the Stock Purchase Agreement.
By Meryl Duval, Morrison Kent
Recent amendments to the Companies Act introduced the new requirement for New Zealand companies to have at least one ‘resident director’. Companies now also need to provide additional information to improve the NZ Companies Register and assist the Registrar of Companies (Registrar) to hold to account those who misuse it.
by Michael Wendler, Wendler Tremml Rechtsanwälte
On 1 January 2015, the Minimum Wage Act (MiLoG) came into force in Germany, which fixes the minimum hourly rate at €8.50. Around 3.7 million workers in the low-pay sector will benefit from the new legislation, with their wages rising as a result. A statutory minimum wage is now in force across every sector of 22 of the 28 EU member states, with the exceptions being Austria, Cyprus, Denmark, Finland, Italy and Sweden.
By Nick Birkenhauer, DBL Law
Employees who work for not-for-profit organizations can be some of the most committed and caring employees in the workforce. Indeed, it is not unusual for non-profit employers to hire employees who are motivated by a passion for the organization, or the organization’s cause, as much as a paycheck. Beyond their regular job duties, these employees may wish to give back to their organization, outside of their normal work day, in a volunteer capacity. For instance, a clerical employee at an animal shelter may wish to volunteer at a weekend pet adoption event. While volunteer events like these often benefit all involved – the employer, the employee and those served by the employee’s volunteer services – it is imperative that employers treat employee volunteerism appropriately and with caution.
By Dennis Kennedy, Dressman Benzinger LaVelle psc
Reports of data breaches are appearing in the media at an alarming rate. No one industry is safe from cyber attacks. In fact, recent attacks have been made against financial institutions, retail outlets, and health insurance companies. Most recently, Anthem announced a data breach affecting more than 80 million current and former customers. While cyber attacks across various industries have been grabbing the headlines, data breaches come in many forms.