Monthly Archives: January 2012

ILN Today Post

NLRB forces employers to review arbitration agreements

Continuing its recent high-profile, pro-union agenda, the NLRB has now turned its attention to employer-employee arbitration agreements.  Employers – even those whose employees are not represented by unions – must now review those agreements or risk an unfair labor practice charge.

In D.R. Horton, 37 NLRB No. 184, the Board held that an arbitration agreement that eliminates an employee’s ability to engage in a class or collective action is a per se violation of the National Labor Relations Act.  D.R. Horton required that its employees sign arbitration agreements as a condition of employment.  Among other things, these agreements required that all employment-related claims be arbitrated and also prohibited an arbitrator from joining the claims of one employee with the claims of another no matter how closely related they may be.  The combination of these two provisions eliminated any chance that employees could participate in employment-related collective or class action lawsuits or arbitrations.  This outcome, the NLRB concluded, was directly contrary to the NLRA’s staunch protection of employees’ rights to act in concert with one another to impact their terms and conditions of employment.

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HOMS host Limerick Chamber’s Reception with Mr Phil Hogan TD (23.1.2012)

We were delighted to host Limerick Chamber’s reception with Mr Phil Hogan TD, the Minister for the Environment, Community and Local Government, for the business community on Friday 20th January 2012.

The Minister outlined his vision and action plan for Local Government Reform in Limerick.

Minister of Finance Michael Noonan and Minster of State Jan O’Sullivan attended, along with members of Limerick Chamber, including the president…

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ILN Today Post

Commercial Finance Alert: Reversion to borrower-friendly terms in loan transactions

If things are going well for your business, it might be a good time to re-examine your financing needs to determine if you are in the best financing arrangement and to examine what opportunities may exist to improve your situation. This is especially true if your business rebounded from the economic downturn, but you remain in a credit facility not reflective of this financial turnaround. Although the current loan market may not be on par with the market prior to the credit crisis of 2008, the credit markets and interest rates for higher credit quality middle market companies are seeing a reversion to pre-crisis levels. 

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ILN Today Post

Ivars Grunte on state involvement in commercial activities regarding "airBaltic" case, "Kapitals"

Ivars Grunte

In an article about the Latvian national airline company “airBaltic” in this month issue of magazine “Kapitals”, Ivars Grunte, partner of TARK GRUNTE SUTKIENE, discusses whether, in which cases and on which conditions the state should be involved in commercial activities.

Click here to read the publication (available in Latvian).

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ILN Today Post

Ivars Grunte on state involvement in commercial activities regarding "airBaltic" case, "Kapitals"

Ivars Grunte

In an article about the Latvian national airline company “airBaltic” in this month issue of magazine “Kapitals”, Ivars Grunte, partner of TARK GRUNTE SUTKIENE, discusses whether, in which cases and on which conditions the state should be involved in commercial activities.

Click here to read the publication (available in Latvian).

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ILN Today Post

Week of January 16, 2012 on ILN Today – Roundup!

Happy Friday everyone, and happy Chinese New Year to our colleagues in Asia!

It’s that time again – time for a weekly roundup of some of the great content we’re seeing over on ILNToday. And even though it was a short week for some, there is no shortage of material coming from our attorneys!

Since we did have so many interesting pieces come out this week, I’m going to give you a top ten instead of a top five (aren’t you lucky?).

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ILN Today Post

Will Bedbug Litigation Become The Latest Litigation Scourge?

Guest Blogger ANDREA J. LAWRENCE is a Senior Counsel at Epstein Becker & Green in New York.  She provides legal advice and counsel to clients in the real estate industry. Andrea has extensive commercial litigation experience, and has provided legal representation to real estate companies, landlords, developers, property management companies, and commercial tenants  She recently published an article about bed bug litigation in the New York Real Estate Journal.  Despite some recent highly publicized bedbug personal injury litigation involving prominent New York hotels, Andrea concludes on the basis of a recent New York appellate case, that bedbug cases may not fare well in a commercial setting. 

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ILN Today Post

Nippon Life Insurance Acquires 26% in Reliance Capital

Japan’s Nippon Life Insurance (Nissay) has signed a Memorandum of Understanding (MoU) with Reliance Capital Asset Management (RCAM), India’s second largest mutual fund, for buying 26% stake in RCAM.  Nissay has agreed to invest an amount of approximately Rs. 1,450 Crore in RCAM, making it the largest investment in the mutual fund industry of India by a single foreign firm. Nissay is already a strategic partner of Reliance Life Insurance Co. Limited, after it acquired 26% stake in Reliance Life last year.

The deal, however, is yet to get the approval from the mutual fund regulator in India, the Securities Exchange Board of India (SEBI).

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ILN Today Post

Vodafone Triumphs – SC Holds Tax Authority Has No Jurisdiction Over Overseas Transaction

In a landmark judgment guaranteed to evoke sighs of relief from investors worldwide, the Supreme Court of India (“SC”), on January 20, 2012, set aside the Bombay High Court (“BHC”) judgment that the Indian tax authorities were correct in assessing Vodafone for Indian tax liability in its $11 billion acquisition of Hutchison’s 67% equity share in Cayman Islands in 2007. The Indian tax authorities had raised a tax demand of Rs. 110 billion (approximately US$ 2.185 billion) on Vodafone International Holding for the said acquisition.

While setting aside the BHC judgment, SC has also directed the Income Tax Department to refund the amount of Rs. 25 billion (approximately US$ 496.6 million) earlier deposited by Vodafone pursuant to an interim order of the SC in September, 2011, along with interest on the aforesaid amount at 4%.

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ILN Today Post

TARK GRUNTE SUTKIENE website now available in Russian

From today the website of TARK GRUNTE SUTKIENE, which was so far available in Estonian, English, Latvian and Lithuanian, is also available in Russian. The Russian language site can be accessed via our homepage atwww.tarkgruntesutkiene.com or directly at www.tarkgruntesutkiene.com/rus.

Data concerning the firm, its services and employees and contact details of its offices are provided on the website. News and publications by TARK GRUNTE SUTKIENE lawyers are now also available in Russian. In addition, monthly reviews of major economic and legal news in Belarus prepared by our partner firm Vlasova Mikhel & Partners are posted on the website.

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