The United States Supreme Court issued its long-awaited opinion in Bristol-Myers Squibb Co. v. Superior Court of San Francisco County, 582 U.S. ____ (2017). Fortunately, the Supreme Court resisted the opportunity to revisit the limited scope of general jurisdiction discussed in Daimler AG v. Bauman, 571 U.S. _____ (2014), or to expand the existing grounds for specific jurisdiction. It maintained its prior view of specific jurisdiction and required “a connection between the forum and the specific claims at issue.” See the opinion here for more detail.» Read More
From October 5-6, 2017, Norris McLaughlin & Marcus, PA will participate in the Meritas® Latin American/Caribbean “LAC” Regional Meeting in Panama City, Panama. On the afternoon of October 5, 2017, the LAC members will host a Client Round Table focused on “Doing Business in Latin America and the Caribbean” featuring attorney panelists from countries throughout the entire region. NMM attorneys will attend and participate in the event.» Read More
In the 2017 Statistics of Income Bulletin, the IRS reported that foreign recipients of U.S. source income from treaty countries had an average withholding rate of 13.9% compared to 25.6% for payments made to residents of non-treaty countries. Absent certain exceptions and/or exemptions, a foreign person, including a foreign entity, is generally subject to tax at a flat 30% rate on U.S.» Read More
“Disposable” plastic bags have become a ubiquitous element of retail shopping over the past several decades, with most consumers barely thinking about the volume or impact of their use and disposal. Thin plastic bags have become so inexpensive, that virtually all retail businesses offer them free of charge – at least where they are still permitted to do so.
Over the past decade, governments around the world have moved towards requiring businesses to participate in pollution-reduction efforts. » Read More
What effect does the Hague Securities Convention have on perfection by filing?
— Part Four of Four —
The Convention does not affect perfection of a lien by taking physical possession of the securities. However, the Convention may affect perfection of a lien by filing, including the place where the security interest or other lien implementation document must be filed. Under the relevant provision of the UCC (§ 9-305) the jurisdiction of the intermediary, NOT the borrower determines the effect of perfection and the priority of the security interest (a lien). » Read More