Legal Updates

Supreme Court weighs in on ASADA and the Bombers: What is an arbitration?

In December 2014, the Australian Sports Anti-Doping Authority (ASADA), with the support of the Australian Football League (AFL), sought orders from the Supreme Court of Victoria under the Commercial Arbitration Act 2011 (Vic) (Act). These orders were for subpoenas to be issued requiring certain evidence (witnesses and documents) to be given at the AFL Anti-Doping Tribunal (Tribunal) hearing of ASADA’s prosecution of several players at the Essendon Football Club on allegations of doping through the use of the banned peptide Thymosin Beta-4. More…

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Epstein Becker Green Technology, Media & Telecommunications Strategic Industry Group Co-Hosts Informative Roundtable Discussion Regarding Financing and Workplace Management Issues

On January 21, 2015 at The Standard, Highline, New York, New York, members of Epstein Becker Green’s Technology, Media & Telecommunications Strategic Industry Group, Stout Risius Ross (SRR), Axial and the New York State Innovation Venture Capital Fund led an informative roundtable discussion regarding “Moving to the Next Level: Valuation & Financing Considerations and Employment Strategies for Start-Ups and Emerging Technology Companies.”  This two-part discussion addressed how to take a company to the next level from a financial and valuation perspective, and relatedly, how to manage and mitigate workplace employment issues to ensure the human capital engine of the business is sound.

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Bill C-43 Receives Royal Assent

On December 16, 2014, Bill C-43, Economic Action Plan 2014 Act, No. 2, received royal assent. This Bill implements certain tax measures that were in the 2014 federal budget, as well as a few additional amendments to the Income Tax Act that were not previously announced in the budget. Some of the significant changes that will impact estate planning going forward are discussed below.

  • Testamentary trusts will no longer have access to graduated rates of taxation and instead will be subject to tax at the highest marginal tax rate. An exception will be made for “graduated rate estates” (essentially, most estates for the first 36 months) and “qualified disability trusts”. These proposals were first announced in the federal government’s 2013 budget, and were discussed in an earlier post.
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Leave The Source Code Behind

U.S. Attorneys in many jurisdictions are more willingly stepping into the fray between financial services firms and their former employees who have misappropriated trade secret information. In a recently reported case out of the Northern District of Illinois, two former employees of Citadel LLC, a Chicago based premier hedge fund in the high frequency trading space, pled guilty and received three-year sentences for their participation in a scheme to steal source code from Citadel and a prior employer in order to create their own trading strategy for their personal future use. This continues a trend begun in earnest in 2013 after the Department of Justice issued the Administration’s Strategy On Mitigating The Theft Of U.S. Trade Secrets. Since that time, federal criminal enforcement efforts in trade secret matters have been on the upswing in the financial services industry as well as other areas.

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Shielding Against New York’s ‘Faithless Service Doctrine’: How Fund Managers May Protect Themselves Against a Powerful Legal Weapon for Employers

The article discusses New York’s faithless servant doctrine, a forfeiture law that applies to disloyal employees, and how financial services firms use the doctrine to claw back compensation paid to fund managers who engage in criminal or other wrongful conduct. As courts struggle to apply the doctrine to the compensation structures of fund managers, those managers may seek to protect themselves from the doctrine through their employment contracts. More…

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McDonald Hopkins Government Strategies Advisory: This Week in Washington — January 23, 2015

The question of climate change has been a contentious one – at least among politicians – which is why it is surprising whenever you can get a vote on the issue to garner the support of 98 of the Senate’s 100 members. This week, however, during the debate on the Keystone XL pipeline, that’s exactly what happened.

In the first floor vote on the facts of climate science in years, an amendment from Sen. Sheldon Whitehouse (D-RI) that stated that climate change is real and not a hoax passed with an astounding 98-1 tally. Even more shocking was that Jim Inhofe (R-OK), the Environment and Public Works Committee chair who relishes challenging climate scientists at every turn, signed on as a cosponsor. 

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Lovforslag om forenkling og modernisering af lejelovgivningen

Kort før jul (den 17. december 2014) fremsatte regeringen lovforslag om forenkling og modernisering af lejelovgivningen.Forslaget indeholder 11 elementer, der skal fremme og modernisere lejelovgivningen uden samlet at forrykke balancen mellem lejer og udlejers interesser.

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Fast Food that Will Not Derail Your Diet – b.good and Feel Good

To understand b.good, the healthy sandwich and salad shop that has taken the northeast by storm, we’re going to need to hop into the DeLorean, and go back to 1987 – when the founders met. b.good’s co-founders, Jon Olinto and Anthony Ackil, met in the sixth grade, and formed a fast friendship. After countless shared burgers – and years later – the duo teamed up to create something that they felt was missing from the marketplace.  They set out to create a line of restaurants where the food was made by real people, not factories.  In fact, burgers share the menu with kale and quinoa bowls and seasonal salads, and are all made with ingredients sourced from local farmers who use sustainable farming practices.

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Current Visa Caps Hold for 2015 but Bills Introduced to Loosen Restrictions on High-Skilled Guest-Workers

By Patrick Lucignani

Executives from companies with technology components and interests often ask if, and when, meaningful changes will be made to the U.S. immigration laws that apply to high-skilled foreign workers, and in particular, to the much discussed H-1B visa program.  While the enactment of such reform is uncertain at the present time, recent developments in the new year suggest that change may be on the way.

Legislators have renewed efforts in this new session of Congress to significantly expand laws for guest-workers in the technology industry against the backdrop of the continued and spirited debate over such immigration issues.  Bipartisan bills just introduced in the United States Senate would, among other things, increase the number of visas and green cards available to high-skilled workers and create an “entrepreneur’s visa” to allow individuals who want to start companies to stay in the country.   Though versions of these bills have been proposed in previous sessions, only to later languish, observers are more optimistic that the legislation, in some form, can now pass both houses.

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A Telehealth Tutorial: The Promise of Telehealth

As telehealth grows and becomes more mainstream, all kinds of questions often arise.  They range from administrative to operational to legal issues. In conjunction with the American Hospital Association, my colleague Amy Lerman and I have co-written two white papers for the American Hospital Association Trendwatch series focusing on telehealth issues. Among other things, the white papers discuss telehealth, operational, legal, regulatory, and policy issues.  The first white paper entitled “The Promise of Telehealth for Hospitals, Health Systems and Their Communities,” focuses on the following:

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