Latest updates

The Carlyle case – the final chapter
Ogier
  • Litigation
  • Guernsey
  • 09 March 2021

The long-running Carlyle case recently came to an end when the parties reached a non-confidential settlement. The case arose from the March 2008 collapse of Carlyle Capital Corporation Ltd, a Guernsey fund which invested mainly in residential mortgage-backed securities issued by US government-sponsored entities Fannie Mae and Freddie Mac. The case is of particular relevance now during the COVID-19 pandemic, which will likely lead to more fund collapses.

The Carlyle case – the final chapter
Ogier
  • Banking & Financial Services
  • Guernsey
  • 09 March 2021

The long-running Carlyle case recently came to an end when the parties reached a non-confidential settlement. The case arose from the March 2008 collapse of Carlyle Capital Corporation Ltd, a Guernsey fund which invested mainly in residential mortgage-backed securities issued by US government-sponsored entities Fannie Mae and Freddie Mac. The case is of particular relevance now during the COVID-19 pandemic, which will likely lead to more fund collapses.

Insureds in a material world: defining 'material' in the context of coverage
Theall Group LLP
  • Insurance
  • Canada
  • 09 March 2021

Insurance applications can be challenging but being diligent is important as an insurer may deny coverage of a claim if an insured incorrectly answered a question or failed to disclose material information. On the other hand, insureds should be aware that the courts will scrutinise claims of inadequate disclosure on a reasonableness basis.

Fire did not break out as a result of a gas explosion: dismissal of claim against gas supplier and insurer
Levitan, Sharon & Co
  • Insurance
  • Israel
  • 09 March 2021

The Central District Court recently dismissed a claim filed by a plaintiff against a gas supplier and its insurer and determined that the plaintiff had failed to prove that the claim event had been a gas explosion and the gas supplier's alleged negligence. The court accepted all of the arguments raised in the written summaries filed on behalf of the defendants and determined that, among other things, the plaintiff did not own the business where the alleged event had occurred so was not entitled to compensation.

Insurance-linked securities – a welcome development
CAL - Costa, Albino & Lasalvia Advogados
  • Insurance
  • Brazil
  • 09 March 2021

The National Council for Private Insurance recently issued a resolution which introduces into the Brazilian market special purpose local reinsurers (SPLRs) and insurance-linked securities, to be issued by SPLRs. The resolution is a welcome example of efforts by the Brazilian market to create an environment which fosters innovation, by seeking to expand its financial capacity and creating new mechanisms to transfer risks, ultimately bridging the gap between the capital and insurance markets.

Unfair competition in case of financial support provided by franchisor
Aramis Law Firm
  • Franchising
  • France
  • 09 March 2021

May franchisors provide financial support to their franchisees through loans or payment periods? This question is of interest as this type of financial support is often provided to franchisees in order to help them set up and run their outlets. In a 2020 decision, the Supreme Court had the opportunity to rule on this question in a lawsuit between Speed Rabbit Pizza and Domino's Pizza France.

New CSSF platform for submission of prospectuses and related documents
NautaDutilh
  • Banking & Financial Services
  • Luxembourg
  • 09 March 2021

Submissions of documents under the EU Prospectus Regulation and the Law of 16 July 2019 on prospectuses for securities must now be made through the e-Prospectus platform developed by the Luxembourg Financial Supervisory Authority. The e-Prospectus platform covers submissions and tracking of applications and submissions of notification requests, among other things.

Ministry of Corporate Affairs provides exemptions to companies with listed debt securities
AZB & Partners
  • Banking & Financial Services
  • India
  • 09 March 2021

The Ministry of Corporate Affairs recently brought much-awaited relief to purely debt-listed public and private companies by exempting them from the purview of 'listed companies' (and associated compliances) under the Companies Act 2013 and the rules thereunder. This amendment comes into effect on 1 April 2021. The rationale for the amended definition is to reduce the compliance burden and facilitate business for Indian companies.

Do ANVISA's new guidelines jeopardise the patentability of patent applications?
Montaury Pimenta, Machado & Vieira de Mello
  • Intellectual Property
  • Brazil
  • 08 March 2021

The National Health Surveillance Agency recently published four guidelines on its prior consent procedure, which all pharmaceutical patent applications in Brazil must undergo before the Brazilian Patent and Trademark Office (BRPTO) conducts the technical examination. However, applicants should remember that the final decision on the patentability of pharmaceutical patent applications is made exclusively by the BRPTO.

Novartis prevails against motion for judgment on pleadings in Entresto patent litigation
Venable LLP
  • Intellectual Property
  • USA
  • 08 March 2021

Chief Judge Stark of the US District Court for the District of Delaware recently ruled in favour of Novartis Pharmaceuticals Corporation against the generic defendants Torrent Pharma Inc and Torrent Pharmaceuticals. Stark denied Torrent's motion for judgment on the pleadings of non-infringement of US Patents 8,877,938 and 9,388,134, which cover Novartis's Entresto product and its approved use.

Approved characteristics used to assess plant variety right infringement in war of the roses
Lee and Li Attorneys at Law
  • Intellectual Property
  • Taiwan
  • 08 March 2021

Article 40 of the Plant Variety and Plant Seed Act provides legal remedies for plant variety rights holders or exclusive licensees whose rights have been infringed. The Taiwan Intellectual Property Court recently rendered a civil judgment that specifically indicates how to determine whether an allegedly infringing plant is an infringing variety.

New resolution modifies patent application process
Castellanos & Co
  • Intellectual Property
  • Colombia
  • 08 March 2021

The Trademark and Patent Office recently issued Resolution 59669, which modifies in part the existing patent procedure regulations. While the amendments may make the patent application process lengthier and more expensive, they resolve various issues relating to the filing and scope of divisional applications. This article presents a summary of the most significant changes introduced, along with a comparison of how the new process differs from previous practice.

Do boards have enough ESG expertise?
Cooley LLP
  • Corporate & Commercial
  • USA
  • 08 March 2021

One topic that directors were asked about in the PwC 2020 Annual Corporate Directors Survey was environmental, social and corporate governance (ESG). Although 55% of directors surveyed considered ESG issues to be a part of the board's enterprise risk management discussions, 49% saw a link between ESG issues and the company's strategy and 51% recognised that ESG issues were important to shareholders, directors were not convinced that they are connected to the company's bottom line.

Pampered Chef succeeds again in trademark infringement battle
Smart & Biggar
  • Intellectual Property
  • Canada
  • 08 March 2021

The Federal Court of Appeal recently dismissed an appeal of the Federal Court's trial decision in a case concerning trademark infringement, passing off and dilution and depreciation of goodwill. Pampered Chef, a world leader in premium kitchenware products, had previously successfully defended a claim brought by Canada's largest retailer, Loblaws, in relation to its use of a trademark that included the letters 'P' and 'C'.

Calculation of damages in cases of misappropriation of trade secrets and copyright infringement
Westerberg & Partners Advokatbyrå Ab
  • Intellectual Property
  • Sweden
  • 08 March 2021

In its first judgment of 2021, the Labour Court used a textbook case of misappropriation of trade secrets – where a previous employee had absconded with trade secrets and copyright-protected works that were subsequently used by his new competing venture – to clarify the method to be applied when calculating total damages under both legal regimes. It will be interesting to see how the courts interpret and apply this principle in future cases.

Trademark procedure and practice FAQs: enforcement
Abdulai Taiwo & Co
  • Intellectual Property
  • Nigeria
  • 08 March 2021

In Nigeria, trademark owners have various options for enforcing their rights where a mark is infringed, including sending a cease and desist letter, filing an opposition notice and instituting actions for infringement or passing off. This article answers FAQs about the enforcement of trademark rights.

Milan Tribunal rules on companies' business continuity and directors' removal for alleged management irregularities
Grieco e Associati
  • Corporate & Commercial
  • Italy
  • 08 March 2021

In 2019 the Milan Tribunal ruled in a case concerning the removal of directors for alleged management irregularities. The tribunal highlighted some important principles regarding companies' business continuity, as set out in Article 2086 of the Civil Code, which has been amended by the Crisis and Insolvency Code. The tribunal's award is important as it constitutes a first interpretation of the new wording of Article 2086, evidencing boards of directors' duties and obligations thereunder.

IP rights infringement countermeasures having positive effect on market
Mirandah Asia (Thailand) Co. Ltd
  • Intellectual Property
  • Thailand
  • 08 March 2021

In recent years, the Department of Intellectual Property has cracked down on various forms of IP rights infringement such as counterfeiting and online piracy. Two recent developments from the start of 2021 show that state-level anti-infringement measures are having a positive effect on the market.

Promulgation of provisions on evidence in IP rights civil litigation
Wanhuida Intellectual Property
  • Intellectual Property
  • China
  • 08 March 2021

The Supreme People's Court recently promulgated Several Provisions on Evidence in Civil Litigation Involving Intellectual Property Rights. The 33-article provisions alleviate the burden of proof on IP rights holders and streamline the formal requirements for evidence sourced outside China. They also introduce penalties for evidence obstruction.

Registering collective trademarks during COVID-19 pandemic
OMC Abogados & Consultores
  • Intellectual Property
  • Peru
  • 08 March 2021

Intellectual property is essential to Peru's economic recovery following the COVID-19 pandemic, which has significantly affected international trade. The National Institute for the Defence of Competition and Protection of Intellectual Property has encouraged the registration of collective trademarks, which enable parties to compete both nationally and internationally.

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