While my posts are usually technical discussions centered on international business law, I'm going off topic today to write about a concept quickly gaining traction as a viable alternative to private banks in providing capital to impoverished entrepreneurs across the globe. On a recent trip to India, I caught a glimpse of the future as I walked down Connaught Circle in … [Read more...]
Florida Court Refuses to Enforce $97M Foreign Judgment Against Dole
In an earlier post, I wrote about the Enforcement of Chinese Judgments in the United States and cited a recent California decision enforcing a Chinese judgment in the United States. The case is unique because it is generally believed that United States courts will not enforce Chinese judgments given the lack of a treaty between the two countries on the issue and given … [Read more...]
International Tender Offers: Structured Deals on the Rise
As Forbes reported today in the article Dainippon completes tender offer for Sepracor, Dainippon Sumitomo Pharma Co. of Japan agreed to buy Sepracor, based in Marlborough, Mass., for about $2.6 billion, or $23 per Sepracor share. Sepracor makes drugs for respiratory and nervous system disorders. It reported $1.29 billion in revenue in 2008, with almost half of that total coming … [Read more...]
Alien Tort Claims Act: A Threat to U.S. Corporations Operating Overseas?
The rise in international litigation predicated on lawsuits filed under the Alien Tort Claims Act present significant risks for U.S. corporations that do business abroad. While the law was originally intended to protect US financial interests from piracy on the high seas, it was revived in the early 1980s to seek accountability for overseas human rights violations, such … [Read more...]
Lisbon Treaty a Boon for Business in the European Union
As recently reported in the Wall Street Journal in the article The Last Hurdle for the Lisbon Treaty, Ireland’s Oct. 3 approval of the Lisbon Treaty strengthened the odds for the European Union to gain global clout on issues from the economy and climate change to war and peace. An excellent overview on the Treaty is provided by BBC in its article Q&A: The … [Read more...]
Zen and the Art of Initial Public Offerings: China Takes Global Lead
As reported by the Wall Street Journal's Lynn Cowan today, China has taken the global lead in initial public offering activity for 2009. As Ms. Cowan reported, should the pace continue, China will come out on top of "every other country, and even entire regions such as Europe and North America, for all of 2009." Global IPO Dominance China's global … [Read more...]
Chevron Files International Arbitration Claim Against Ecuador: Forum Shopping in the Hague?
**Update January 15, 2010**: The Republic of Ecuador and the class Plaintiffs have both challenged Chevron's arbitration claim in New York federal court. You can read about it here and here. First, the United States. Then Ecuador. Now Holland. Chevron's wanderlust knows no bounds, as it recently filed a parallel international arbitration proceeding in the Hague (Holland). The … [Read more...]
Enforcing European Freezing Injunctions in the United Kingdom
The last post discussed the enforcement of Chinese judgments in the United States. In this post, I’ll head across the pond to discuss the implications of a recent English High Court decision on the enforcement of judgments and Freezing Injunctions. EU Enforcement Law In D’Hoker v Tritan Enterprises Limited [2009] EWHC 948 (QB), the High Court examined … [Read more...]
Enforcement of Chinese Judgments in the United States
on August 12, 2009, the United States District Court for the Central District of California issued a judgment enforcing a $6.5 million dollar Chinese judgment against an American corporate defendant under California’s version of the Uniform Foreign Money Judgments Recognition Act. The court’s full decision is available here. This case is unique because … [Read more...]
Chevron's Missteps: How Not to Handle Foreign Litigation
Some of my recent "how to" posts have offered practical advice and tips concerning various areas of international business law. This post is different--it's a "how not to" article based on Chevron's inept and unethical handling of the oil pollution trial currently taking place in Ecuador. While zealous advocacy is critical to any high caliber practice, it … [Read more...]