Yesterday's post centered on how important it is for U.S. companies to keep tabs on their foreign subsidiaries. Well, the Conglomerate blog has an excellent post on the increase of foreign subsidiaries that have entered guilty pleas with the U.S. government for misconduct that took place after the financial crisis. What's interesting about the rise in foreign subsidiaries … [Read more...]
Hey U.S. Corporations–Don't Neglect Your Foreign Subsidiaries!
I recently received an email from a board member of a corporation concerned that one of the company’s foreign subsidiaries was having compliance issues. I immediately interrupted and asked if there were any local bodies on the ground at the company’s foreign subsidiary. I wasn't exactly surprised to learn that there were not. In fact, no one from the U.S. office had visited … [Read more...]
Clean Energy Cases Are Heating Up the World Trade Organization.
I'll be heading to Washington, D.C. next week to meet with White House officials and members of Congress to discuss the President's clean energy agenda. So it's no surprise that I’m a big advocate of the global clean energy industry, which last year alone generated almost $269 Billion in international business. In somewhat of a tribute to the growing importance of clean … [Read more...]
SEC Takes Immediate Action in Freezing OffShore Accounts Tied to Heinz Insider-Trading.
Yesterday it was announced that Warren Buffet’s Berkshire Hathaway partnered with Brazilian equity fund 3G to purchase iconic American ketchup maker Heinz in a blockbuster $23 Billion deal. Just a day after the deal, the SEC obtained an emergency court order to freeze assets in a Zurich, Switzerland-based trading account that was used to reap more than $1.7 million from … [Read more...]
International Lawyers Get Green Light to Serve as In-House Counsel in the U.S.
It’s about time the American Bar Association recognized that the globalization of law is a “trend” that’s here to stay. I say this because the ABA House of Delegates just passed a resolution that would allow foreign attorneys to work in the U.S. as in-house counsel. The fact is that seven states already allow international attorneys to work as in-house lawyers in the U.S. … [Read more...]
So Much for Expediency. International Arbitration Cases Can Take a Long Time, Too.
In the past two decades, international arbitration has become the dispute resolution mechanism of choice for resolving international commercial matters. One of the characteristics that made international arbitration so attractive was its expediency in getting matters resolved. This saved companies a great deal of money because they were not tied up in litigation for what … [Read more...]
Investment Visas in Brazil. The Basics.
There seems to be no end in sight for investment opportunities in Brazil. Here in Miami, where my practice is based, I've seen an incredible amount of interest from investors wanting to get their hands on Brazilian Visas. There's a great post over at the Brazilian Law Blog that does a great job of going over the types of visas available for those looking to invest there. In … [Read more...]
Thinking of Terminating Your International Employee? Not So Fast.
U.S. companies have a quick-trigger habit of terminating a foreign-based employee(s) without first taking a look at the termination laws of the host country. Details such as pre-termination notice, severance pay and termination procedures are often overlooked. This could spell serious trouble for the U.S. company down the road. That’s why it’s critical for U.S. multinational … [Read more...]
International Technology Laws Apply to You too, Google.
I can't stress enough how important it is for technology companies operating overseas to be mindful of the dizzying array of compliance laws that apply. Some companies just don't seem to get it. I bring this up because the Washington Post is reporting that Google faces at least 10 lawsuits in the United Kingdom over violation of the UK’s stringent privacy protection … [Read more...]
How International Litigators Can Change the World. A Case Study.
One of the things I love most about being an international litigator is the opportunity to challenge the status quo and have a positive impact at the global level. Whether it’s representing victims against human rights abuse in the Middle East, bringing justice to swindled French investors, or helping to track down North African warlords, the work can be extremely … [Read more...]