Practitioner Contributions

As the Federal Communications Commission (“FCC”) opens a new chapter in its effort to achieve “universal service,” courts are likely to have the final say in how $7 billion in annual subsidies are distributed to telecommunications providers. In the past, courts have generally deferred to the FCC’s implementation of its universal service mandate under the [...]

On the evening of January 24, 2012, the pharmaceutical giant Roche Holding AG publicly announced its intent to acquire all the outstanding shares of Illumina, Inc., a gene sequencing company, in a deal that would be worth approximately $5.7 billion and represented an 18 percent premium over Illumina’s then-current stock price. In response, and “in [...]

Introduction Against a global anti-terrorist backdrop, Hong Kong is soon to have an enhanced anti-money laundering/counter-terrorist financing (AML/CTF) regime for its financial sectors. The Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance (AMLO)1 goes into effect on April 1, 2012, to meet requirements set by the Financial Action Task Force (FATF), an inter-governmental body promoting [...]

While there has always been a need for pro bono services, the need has increased dramatically with the decline of the economy over the past several years. There is a greater need for pro bono services than ever and yet many firms feel the need to cut back on providing pro bono services. Strong and [...]

The U.S. Patent and Trademark Office (“Patent Office”) recently announced expansion of its extremely successful Prioritized Examination Track (“Track I”) of the Enhanced Examination Timing Control Procedures to patent applicants that file a Request for Continued Examination (“RCE”).1 Even in its original form, the Track I “express lane” has brought unprecedented speed to patent examinations.2 [...]

Electronic medical information is increasingly central to improving the quality of patient care and controlling costs. The electronic health record (EHR) brings together medical examination observations, medication records, prescription information, laboratory results, and even x-ray and CT images, into a device as agile and portable as a tablet PC. The EHR can vastly improve the [...]

In 2011, rising concerns about foreign-based Internet piracy of intellectual property led to the introduction of the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act1 (“PROTECT IP”) and the Stop Online Piracy Act2 (“SOPA”). In December, the Online Protection and Enforcement of Digital Trade Act3 (“OPEN”) was introduced as an [...]

In a survey published in the December issue of the American Lawyer, 81 percent of law firm leaders said that more clients are requesting discounts, and 55 percent said clients are requesting deeper discounts. In a separate survey conducted by Altman Weil, 90 percent of managing partners and chairs said that increasing price competition is [...]

Until recently, no bankruptcy court has directly addressed whether certificateholders in commercial mortgage-backed security (“CMBS”) REMICs (rReal eEstate mortgage investment conduits) have standing to be heard in chapter 11 cases under 11 U.S.C. § 1109(b) as “parties in interest.”2 This issue is particularly important given the potential upcoming wave of maturity defaults in the $3.5 [...]

Over the past several years, global law firm Paul Hastings LLP has built a strong foundation for its pro bono and community service efforts nationwide, and has received accolades for its success in doing so. In the firm’s New York office, this recognition is the result of Paul Hastings’ collective focus on excellence in both [...]

Information Law is a relatively new and dynamic field that incorporates many diverse practice areas, including litigation, privacy, data security, technology, and communications. Bloomberg Law asked James Sherer, a partner at Redgrave LLP, about this ever-changing field, his own career path, and the opportunities both new and experienced lawyers may explore within the evolving field [...]

Institutional Shareholder Services (ISS), one of the largest proxy advisory firms, recently issued a “white paper”1 outlining how ISS will implement the pay-for-performance proxy voting guidelines announced in its recent U.S. Corporate Governance Policy 2012 Updates (Policy Updates).2 The white paper provides companies with a limited opportunity to determine how they are likely to perform [...]

The basic rule for maintaining a trade secret is a follows: Take all reasonable steps to keep it secret. If not, the trade secret status of the secret may be lost. While such steps are relatively inexpensive, businesses commonly fail to take them. However, the same businesses will often expend large amounts of money in [...]

Introduction Trade secret protection is, by and large, governed by state law. Presently, there is no comprehensive federal civil trade secret misappropriation statute.1 This is in contrast to other forms of intellectual property, including patents, copyrights, and trademarks, which are protected by federal civil statutes.2 As a result, the scope of recognition and protection of [...]

Non-U.S. issuers have frequently used private placements of securities to access the U.S. capital markets while avoiding the registration requirements mandated by the Securities Act of 1933 (Securities Act). However, prior to the adoption of Rule 144A, private placements were generally not as advantageous to issuers when compared to public offerings, principally due to the [...]

In Plasterers’ Local Union No. 96 Pension Plan v. Pepper, 663 F.3d 210 (4th Cir. 2011), the Fourth Circuit Court of Appeals addressed whether the failure to investigate or diversify plan investments constitutes a breach of fiduciary duty and causes damages. As detailed below, the Fourth Circuit held that, even when there is a failure [...]

Part I of this article compared the basis for the requirement on bank holding companies, foreign banking organizations and U.S. branches and agencies of international banks to file a Living Will, the due dates, and the entities that must comply with this filing obligation. Part II examines the detailed content requirements of Living Wills and [...]

Particularly in fraud cases, the need to freeze a defendant’s assets has long been seen as essential in seeking to ensure that judgments do not go unsatisfied. The same is true of orders for the disclosure of assets: unless a claimant is informed of the nature and location of a defendant’s assets, policing a worldwide [...]

Introduction The Department of Treasury’s Office of Foreign Assets Control (OFAC) is responsible for administering and enforcing economic sanctions and embargoes designed to advance the United States’ foreign policy and national security interests. Over the last few years, OFAC has not only increased its enforcement activities significantly, it has also—due principally to new federal legislation [...]

“Give me the splendid silent Sun, with all his beams full-dazzling!” – Walt Whitman We all know and lament the natural phenomena (hurricanes, tsunamis, earthquakes, floods, and even volcanic eruptions) that have taken their toll on human life and treasure. (Insurers have paid more than $100 billion in claims so far in 2011.) Many times, [...]