One area of law that has received enormous attention in the international business community the past several years is the Foreign Corrupt Practices Act. The sheer amount of FCPA material out there is staggering. Just Google "FCPA" and you'll see what I mean (over 1,200,000 results generated). For anyone trying to keep up with the latest FCPA developments, it can all … [Read more...]
Sovereign Debt Litigation on the Rise.
On Wednesday, the United States Court of Appeals for the Second Circuit will hear argument in a sovereign debt lawsuit that could have a major impact on world debt markets. The case centers on a group of investors who sued Argentina seeking payment for $1.3 billion relating to bonds that the country defaulted on in 2001. While the court has already sided with investors on … [Read more...]
Individual Liability for Foreign Subsidiary Misconduct. The Logical Next Step.
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...]
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...]
Don't Miss the 11th Annual International Litigation and Arbitration Conference March 1, 2013.
The Florida Bar's International Law Section will be hosting its 11th annual International Litigation and Arbitration Conference on March 1, 2013. The event will be held at the stunning Biltmore Hotel in Coral Gables, FL, located a short distance from Miami International Airport. I will be speaking on the panel "How Should Counsel Use Trade Agreements in Commercial … [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...]
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...]
Have a Legal Dispute in Asia? Singapore is the Place to Resolve it.
I'm a big advocate for doing business in Singapore. Year after year, it's ranked as the easiest country in the world to start a business. Singapore is also the third richest country in the world, ranking behind only Qatar and Luxembourg. A big part of Singapore’s success is rooted in its modern legal system. The legal system in Singapore has received global recognition for … [Read more...]