The practice of international business law is fascinating. Whether I'm representing a foreign manufacturer in a major distribution deal in China, an aggrieved investor against a Swiss bank or a defrauded oligarch against a former Soviet republic, the work is never boring. International litigation in particular presents its own interesting host of issues, especially when it … [Read more...]
Globalizing the Boardroom. Why U.S. Corporations Should Consider Hiring Foreign-Based Directors.
In Miami, where my international practice is based, there are over 100 multinational corporations with a presence here. Many of these companies are headed by a board of independent directors where at least one member is based in a foreign country. From working with many of these companies, I have found that these foreign-based members offer a a distinct worldview. … [Read more...]
International Arbitration in New York. Losing its Luster?
Many of the world's leading business centers, including Miami, London, Paris, Hong Kong and Singapore, actively compete to host international arbitrations, and the courts of the venues selected to host international arbitrations are typically regarded as the most respected courts by the international business community. As I wrote over at the International Arbitration Advisor, … [Read more...]
Corporate Liability Under Kiobel. The Debate Over Universal Jurisdiction.
The SCOTUS blog recently held a symposium on Kiobel v. Royal Dutch Petroleum. Kiobel is one of the most important cases that will be decided by the U.S. Supreme Court in the new term that begins October 1, 2012. Kiobel was filed under the Alien Tort Statute (“ATS”), and alleges that subsidiaries of the corporate defendant planned, conspired and facilitated extrajudicial … [Read more...]
Study: CEO ‘Overconfidence’ Drives International Mergers & Acquisitions.
Over at the Harvard Law School Forum on Corporate Governance and Financial Regulation, there’s a an interesting post about an extraordinary study published in the Journal of Financial and Quantitative Analysis. In the study, CEO Overconfidence and International Merger and Acquisition Activity, the authors use a sample of CEOs from Fortune Global 500 firms to examine how CEO … [Read more...]
Mexico’s New Class Action Law Poses Litigation Risk for U.S. Companies.
U.S. companies doing business in Mexico face the risk of increased litigation under Mexico’s new class action law. The law, which required an amendment to Mexico’s constitution, will allow consumers to bring class action lawsuits in Mexico for the first time. Under the law, groups of at least 30 people can obtain restitution or compensation of damages, and injunctive relief, … [Read more...]
U.S. Court Rules Foreign Whistle-blowers Not Covered Under Dodd-Frank.
In a decision that is making waves in boardrooms all over the country, a U.S. District Court judge granted the dismissal of a lawsuit filed by a former General Electric Co. executive, who served as a representative for GE Energy in Iraq, under the Dodd-Frank Act. As C.W. Matthews of the Wall Street Journal reports, the court held that the anti-retaliation clauses of the Act’s … [Read more...]
U.S. Corporations Push for Passage of Law of the Sea Treaty.
Lobbyists for some of the world’s biggest multinational corporations met in Washington D.C. last week to steer members of the Foreign Relations Committee to vote in their favor on the Law of the Sea Treaty. The United Nations Convention on the Law of the Sea (UNCLOS), as it is formally known, sets rules for the use of marine natural resources. It was signed in 1982 and came … [Read more...]
Asset Seizure Wars: The Ecuador Plaintiffs Strike Back at Chevron in Brazil Over $18 Billion Judgment.
One of the things I love about being an international attorney is the potential to effect change at the global level. Whether it’s representing victims of oppressive government regimes, exposing corrupt ministerial officers or hunting down secret Swiss bank accounts for defrauded pensioners, the work can be extremely gratifying. I mention this because of recent developments … [Read more...]
U.S. Companies Facing Increased Litigation in France over Labor Practices.
U.S multinationals with operations in France are coming under increased pressure to justify laying off local workers. While corporations reducing the numbers of employees in France already face many regulatory hurdles, new rules set out in the French Labor Code have made it much more complicated for corporations in the country to lay off workers. A number of recent court … [Read more...]