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Future of credit rating agencies: reform ahead? | Norton Rose Fulbright

Credit Rating Agencies (CRAs) have recently been on the receiving end of increasingly close scrutiny by regulators as decision-makers on both sides of the Atlantic have asked serious questions of the role and structure of the established CRAs. The ongoing US Senate and New York Attorney General investigations into the financial crisis, together with recently …

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Powering British Columbia’s future: the Clean Energy Act | Blake, Cassels & Graydon LLP

On 28 April 2010 the British Columbia (BC) government introduced Bill 17, the Clean Energy Act (the Act), into the legislature for its first reading. The Act provides a foundation to assist the province in achieving its goals of electricity self-sufficiency, job creation and reduced greenhouse gas (GHG) emissions. The Act builds on the work …

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Variation of contractual terms | Edwards Wildman Palmer UK LLP

The modernisation of business practice dictates that companies need to adapt quickly to their business environments. As a result, parties to long-term contracts may need to change or modify their contractual rights for them to have a continued commercial effect. This can be done in one of two ways. One option is for the parties …

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CRC Energy Efficiency Scheme: issues for corporate lawyers | Charles Russell Speechlys

The Carbon reduction commitment Energy Efficiency Scheme (the CRC) became effective on 1 April 2010. A full review of this has already been included in IHL179. However, the CRC will have important consequences that need to be considered by corporate lawyers and, in particular, in relation to corporate transactions, such as M&A and private equity …

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Will high-earners suffer further wealth reductions? | Jones Day

It was hardly surprising and perhaps inevitable given the current economic and financial crisis, coupled with a general election, that the government would attempt to find ways to raise funds to repay the public debt, without adversely affecting the majority of voters. One such method devised by the Labour government was to restrict tax relief …

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Legal and tax treatment of the sale of non-performing loans in the Ukraine | Wolf Theiss

An improvement in the liquidity of banks, as well as the need for an additional injection of money, became crucial for Ukrainian banks in the aftermath of the recent global financial crisis. An increase in the number of non-performing loans (NPLs) negatively impacted the overall liquidity of Ukrainian banks by forcing them to hold mandatory …

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Waste batteries and accumulators, environmental regulation and supply chains: the big picture | Burges Salmon

The Waste Batteries and Accumulators Regulations 2009 (the 2009 Regulations) are the latest piece of legislation to come into force in the UK deriving from the European producer responsibility legislation. The staged implementation of the 2009 Regulations is now complete and the final obligations came into force on 1 February 2010. The Regulations are based …

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Sentencing guidelines for corporate manslaughter | DLA Piper

In February 2010 the Sentencing Guidelines Council (the SGC) issued definitive guidelines to courts on imposing appropriate sentences for corporate manslaughter and health and safety offences causing death. The SGC states that fines imposed on companies found guilty of corporate manslaughter should not fall below £500,000, while fines in respect of health and safety offences …

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To comply or not to comply? | Magrath Sheldrick LLP

The introduction of the Points-Based System (PBS) in November 2008 was the biggest change to UK immigration law for 45 years. Since the introduction of the PBS, the UK Border Agency (UKBA) has sought to re-align responsibility for non-European Economic Area (EEA) nationals from the UKBA to UK employers and the migrants themselves. With the …

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Proposed amendments to arbitration law in India: implications and effect | Amarchand Mangaldas

Indian Legislature has ostensibly put into place a cohesive structure for alternative dispute resolution (ADR) mechanisms, primarily through the Indian Arbitration and Conciliation Act 1996 (the 1996 Act). The 1996 Act is wide in its scope and within its ambit covers arbitrations, as well as conciliations. India, however, is still not a preferred destination for …

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