On May 28, 2020, the General Court of the European Union called into serious question the tough approach taken by the European Commission in its review of mergers in the mobile communications sector. In doing so, the General Court has subjected the Commission’s analysis to an unprecedented level of scrutiny on a range of important substantive issues, rather than seeking to catch out the Commission on more procedural technicalities.
May 28, 2020
On 27 May 2020, the UK Financial Conduct Authority (the “FCA”) published Market Watch 63 (“MW63”). MW63 highlights that market participants (including issuers, their advisers and all other market participants) may be subject to new and emerging market conduct risks as a result of the current increase in primary market activity and working from home arrangements widely mandated as a result of public policy to deal with the COVID-19 pandemic. It then sets out the FCA’s expectations on market participants in terms of identifying and mitigating those risks in the current environment.
May 28, 2020
On May 15, 2020, the Texas Supreme Court held that a broad “anti-washout” provision extending overriding royalty interests to a new lease for the same assets was invalid under Texas’s “rule against perpetuities,” though such a provision is subject to judicial reformation under Texas property laws.
May 27, 2020
Since the U.S Environmental Protection Agency (EPA) issued its “Temporary COVID-19 Enforcement Policy” on March 26th, many regulated entities have successfully obtained extensions of consent decrees and other deadlines.
May 27, 2020
Issuers in the United States and their auditors have related, but distinct, obligations to evaluate on a periodic basis whether there is substantial doubt about the issuer’s ability to continue as a going concern.[1] In normal times, this evaluation, conducted with an appropriate level of diligence, results as to almost all major public companies in the conclusion that there is no substantial doubt about the entity’s ability to meet its obligations in the months to come.
May 27, 2020
On May 20, 2020, the German government has adopted an amendment to the German Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung or AWV) further increasing the scrutiny of foreign direct investments.
May 27, 2020
Given the circumstances surrounding the COVID-19 pandemic, valuations and stock prices of Indian companies have witnessed precipitous declines. The government of India has revised the country's investment laws to check “opportunistic takeovers/acquisitions” of Indian companies.
May 26, 2020
On May 21, 2020, the U.S. Copyright Office (the “Office”) released a nearly 200-page report (the “Report”)[1] suggesting changes to the Digital Millennium Copyright Act (17 U.S.C. § 512) (“DMCA”), which governs how online service providers (OSPs) police potential online copyright infringement. The report was the result of a multi-year study of the DMCA—the first comprehensive study by the Office on the DMCA’s operation—and was prepared to analyze whether the DMCA’s safe harbor provisions are successfully balancing the needs of OSPs and copyright holders, “particularly in light of the enormous changes that the internet has undergone in the last twenty-plus years.”[2]
May 22, 2020
On May 15, 2020, the United States Department of Commerce, Bureau of Industry and Security (BIS) announced a new rule to further restrict Huawei’s access to U.S. technology.
May 21, 2020
This Gibson Dunn update outlines the current state of these measures as they stand in the legislative process, but these bills are constantly changing and will likely continue to evolve in the days and weeks ahead.
May 21, 2020
Gibson, Dunn & Crutcher LLP is pleased to announce with Global Legal Group the release of the International Comparative Legal Guide to: Anti-Money Laundering 2020.
May 21, 2020
On May 19, 2020, President Trump signed an executive order entitled “Regulatory Relief to Support Economic Recovery," which seeks “to combat the economic consequences of COVID-19.” The Order instructs agencies to “rescind[], modify[], waiv[e], or provid[e] exemptions from regulations and other requirements that may inhibit economic recovery.”
May 20, 2020
Gibson Dunn lawyers in London provide a summary and compendium of English law legal developments during the current COVID-19 pandemic as of May 20, 2020.
May 20, 2020
In the wake of closures and cancellations, consumer frustration has mounted, and scores of class action lawsuits have followed. Gibson Dunn examines the industries facing these lawsuits, describes the theories that plaintiffs are asserting, and provides some practical considerations and potential defenses for these lawsuits.
May 19, 2020
Gibson Dunn lawyers describe some of the Spring 2020 cases challenging COVID-19-related governmental actions on constitutional grounds.
May 19, 2020
Gibson Dunn lawyers address legal developments during Spring 2020 in 1) commercial unmanned aircraft systems (UAS), or drones; (2) the commercial space sector; and (3) recent government contracts decisions involving companies in the aerospace and defense industry.
May 19, 2020
Gibson Dunn identifies some of the key considerations for UK-based businesses when taking steps to comply with their health and safety obligations once certain groups of employees return to the workplace.
May 18, 2020
On May 15, 2020, the U.S. Small Business Administration (SBA) released the much anticipated loan forgiveness application for loans issued under the Paycheck Protection Program (PPP).
May 18, 2020
On May 18, 2020, the Supreme Court held 8-0 that the Foreign Sovereign Immunities Act (FSIA) amendments of 2008 authorize punitive damages in suits against foreign states based on conduct predating the amendments.
May 18, 2020
On May 8, 2020, the Department of the Treasury Financial Crimes Enforcement Network (FinCEN) again extended the Geographic Targeting Order (GTO) requiring title insurance companies to report non-financed purchases of residential real estate in certain major metropolitan areas.
May 18, 2020