A federal court in Washington, D.C. has recognized and enforced a US$331 million arbitral award against Romania under an intra-EU BIT—notwithstanding the objection of the European Commission that the award is incompatible...more
9/19/2019
/ Arbitration ,
Arbitration Awards ,
Bilateral Investment Treaties ,
Court of Justice of the European Union (CJEU) ,
Enforcement Actions ,
Enforcement of Foreign Judgments ,
EU ,
European Commission ,
ICSID ,
International Arbitration ,
Member State ,
Motion to Dismiss ,
Post-Judgment Enforcement Actions ,
Romania ,
State Aid ,
United States
On February 1, 2019, the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) issued guidance in the form of Frequently Asked Questions (“FAQs”) relating to sanctions imposed on January 28, 2019 against...more
2/4/2019
/ Blocked Person ,
Bonds ,
Derivatives ,
Due Diligence ,
Economic Sanctions ,
General Licenses ,
Non U.S. Person ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
SDN List ,
Trump Administration ,
U.S. Treasury ,
Venezuela ,
Winding Down
On January 28, 2019, the United States imposed blocking sanctions on Petróleos de Venezuela SA (“PdVSA”), the Venezuelan state-owned oil company. The measures follow President Trump’s recent decision to recognize Juan Guaidó,...more
1/31/2019
/ Blocked Person ,
Economic Sanctions ,
Energy Sector ,
Executive Orders ,
Financial Institutions ,
Foreign Investment ,
Imports ,
International Emergency Economic Powers Act (IEEPA) ,
Office of Foreign Assets Control (OFAC) ,
Oil & Gas ,
Presidential Elections ,
SDN List ,
Trump Administration ,
Venezuela ,
Winding Down
In Animal Science Products v. Hebei Welcome Pharmaceutical Co., the Supreme Court of the United States held that foreign governments are not entitled to absolute deference on the construction of their own laws. The Court’s...more
6/19/2018
/ Animal Science Products Inc v Hebei Welcome Pharmaceutical Co Ltd ,
Antitrust Violations ,
Application of Foreign Laws ,
China ,
Comity ,
Corporate Counsel ,
Exports ,
FRCP Rule 44.1 ,
Judicial Deference ,
Price-Fixing ,
Question of Law ,
Reversal ,
SCOTUS ,
Sherman Act
The Supreme Court addressed the scope of so-called “specific personal jurisdiction,” on Monday, as applied to major corporations, strengthening defendants’ potential arguments at the motion to dismiss stage. Bristol-Myers...more
6/24/2017
/ Bristol-Myers Squibb Co v Superior Court of California - San Francisco County ,
CA Supreme Court ,
Due Process ,
Forum Shopping ,
Fourteenth Amendment ,
General Jurisdiction ,
Mass Tort Litigation ,
Minimum Contacts ,
Personal Jurisdiction ,
Reversal ,
SCOTUS ,
Specific Jurisdiction
The U.S. Supreme Court rendered an 8-0 decision in Water Splash, Inc. v. Menon, on May 22, 2017, confirming that service of a complaint and summons by mail is not precluded by the Hague Service Convention (the “Convention”)....more
In a 2-1 opinion, the Second Circuit overruled the district court in Marblegate Asset Management LLC v. Education Management Corp., finding no violation of the Trust Indenture Act (“TIA”) in connection with an out-of-court...more
1/28/2017
/ Appeals ,
Bonds ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Fraudulent Conveyance ,
Lenders ,
Payment Terms ,
Section 316(b) ,
Secured Notes ,
Senior Indenture ,
Trust Indenture Act ,
Vacated
The Delaware Superior Court recently denied a motion to dismiss an action based on a claim that the litigation financing used by the plaintiff constituted unlawful champerty and maintenance. The March 9, 2016, decision in...more