Mondaq Business Briefing articles from August 2006

Mondaq Business Briefing archives from August 2006

Canada Rejects Safeguard Remedy For Bicycles and Barbeques.(Canadian International Trade Tribunal)
August 1, 2006... This article was originally published in Blakes Bulletin on International Trade -June 2006 Article by Ken Purchase, [c]2006 Blake, Cassels & Graydon LLP On Monday, May 29, 2006 Finance Minister Jim Flaherty and International Trade...

TSX To Require Securityholder Approval Of All Amendments To Most Security-Based Compensation Arrangements.(Toronto Stock Exchange)
August 1, 2006... This article was originally published in Blakes Bulletin on Securities Law - June 2006 Article by John Tuzyk, [c]2006 Blake, Cassels & Graydon LLP Amendment Approvals Change to Require Securityholder Approval for all Amendments to...

Supreme Court of Canada Releases Decision in Rogers Communications v. Buschau.
August 1, 2006... This article was originally published in Blakes Bulletin on Pension and Employee Benefits - June 2006 Article by the Pensions and Employee Benefits Group, [c]2006 Blake, Cassels & Graydon LLP On Thursday, June 22, 2006, the Supreme...

Swiss Competition Report - 2nd Quarter 2006.
August 1, 2006... Merger Control No effective competition in the market for electricity transportation - the Appeal Commission clears the Swissgrid merger Seven Swiss electricity companies intend to concentrate the exploitation of their (high tension)...

Finance Bill 2006 - Trusts,Wills and Inheritance Tax.
August 1, 2006... The Finance Act was given Royal Assent on 19 July 2006. A number of amendments have been made to the proposed new rules as the Bill has gone through Parliament. The principal changes are:- Wills Relaxation on the requirements for a...

Financial Reporting - IFRS & UK GAAP- July 2006.(International Financial Reporting Standard(s))(Generally Accepted Accounting Principles)
August 1, 2006... International standards continue to develop, particularly as the process of achieving convergence with US GAAP gathers pace. While there may have been few new UK accounting standards so far in 2006, legislation continues to provide plenty of...

Re-presenting Financial Performance.(US Financial Accounting Standards Board )
August 1, 2006... The International Accounting Standards Board (IASB) recently issued an exposure draft of proposals to amend IAS 1 'Presentation of financial statements'. This exposure draft is a culmination of Segment A of the IASB's joint project with...

Extension of Group Accounts Exemption.
August 1, 2006... The amendment to the Companies Act permitting an intermediate parent company to take advantage, subject to certain conditions, of an exemption from preparing group accounts regardless of where its parent undertaking is incorporated, was...

Clarifying the scope of FRS 20: Share-based Payments.(Brief article)
August 1, 2006... UITF Abstract 41 'Scope of FRS 20 Share-based payments' deals with circumstances where, because of public policy or other reasons, shares are given to individuals or entities that have either not provided goods or services or have provided them...

Easier for Employees to Win Claims of Unlawful Retaliation.(ruels for employees)
August 1, 2006... By Barbara Roth, Joe Vicinanza and Lauren Krasnow The U.S. Supreme Court has just made it much easier for an employee to win claims of unlawful retaliation when an employer takes any action that might deter the employee from making a...

Duties Act (NSW) Changes.(New South Wales)
August 1, 2006... On 6 June 2006, the Duties Amendment (Abolition of State Taxes) Bill 2006 (Bill) was introduced into the New South Wales (NSW) Parliament. This Bill provides for the repeal or reduction of a number of state taxes and also makes significant...

Published Articles - Intellectual Property - A Hidden Asset?
August 1, 2006... It would be unthinkable for a business not to have a list of its tangible assets such as machinery and buildings, so why would a business consider it acceptable not to have a list of its intangible assets? Increasingly, businesses are carrying...

NZ Financial Services Bulletin.
August 1, 2006... This Bulletin highlights the many recent developments in the New Zealand financial services industry that may impact you. Contents Kiwi Saver Taxation of investment income Proposed tax changes for general and limited...

MiFID: FSA publishes July Consultation Paper.(Markets in Financial Instruments Directive)(United Kingdom. Financial Services Authority)
August 1, 2006... FSA has today published its promised July Consultation Paper (CP 06/14). It covers the following areas: Client money and assets; Markets - regulated markets/multilateral trading facilities, pre and post trade transparency for equities...

The End of the Road for the Mandatory OFR.(Operating and Financial Review)
August 1, 2006... It seems that the uncertainty over the future of the mandatory Operating and Financial Review (OFR) has finally come to an end. In May, as part of a series of new draft clauses for the Company Law Reform Bill, the Government proposed...

Improving the Disclosure of Auditors' Remuneration.
August 1, 2006... 2004 saw a number of statutory instruments affecting financial statements and annual reports, with application dates affecting 2005 and 2006 year-ends. All but the smallest companies must now include in their Directors' Report a 'fair...

Federal Circuit Declines to Clarify Whether All Words in Product-By-Process Claim are Limiting.
August 1, 2006... The U.S. Court of Appeals for the Federal Circuit has denied a patentee's petition for rehearing en banc of a panel decision (reported in IP Update, Vol. 9, No. 3; March 2006) that affirmed summary judgment of invalidity based on lack of...

Ninth Circuit Finds for Studios and Lopez in "Flashdance" Controversy.(Jennifer Lopez)(copyright infringement)
August 1, 2006... In affirming the district court's grant of defendants' motions to dismiss under Rule 12(b)(6), the U.S. Court of Appeals for the Ninth Circuit upheld the validity of a General Release signed by a dancer allowing Paramount to use her life story...

Ability to Trade Options on Exchange-Traded Funds Without a License Affirmed.
August 1, 2006... The U.S. Court of Appeals for the Second Circuit recently affirmed the ruling of a district court that an options exchange, by creating, listing and facilitating the trading of options on shares in an exchange-traded fund (ETF) designed to...

The Barrel Brief: Environmental Law Overhauled.
August 1, 2006... In March 2006, arguably the biggest environmental scandal to date in Turkey occurred. Upon an anonymous tip, the authorities discovered hundreds of barrels buried illegally by a creek in the district of Tuzla, ?stanbul. The barrels contained...

Corporate Acquisitions Through Debt-Equity Swaps in Germany.
August 1, 2006... By Dr. Volker Kammel and Dr. Markus Bauer The German economy has experienced minimal growth for a number of years. Insolvencies have reached record levels, and the number of businesses outside of formal insolvency proceedings, but in need...

"Take Three!" on Real Property Acquisition of Foreigners.
August 1, 2006... Many of the limitations regarding real property acquisitions by foreigners were removed under the amendment of Article 35 of the Title Deed Law ("Article 35") by the promulgation of Law No. 4916 back in July 2003. However, in March 2005, the...

Recent Securities Developments.(Capital Markets Board )
August 1, 2006... The Capital Markets Law is the primary legislation governing the Turkish capital markets. The Capital Markets Board ("CMB"), the independent governmental authority regulating and monitoring capital market activities through issuance of...

Managing IP Risk in Accordance with Sarbanes-Oxley.
August 1, 2006... Properly managing intellectual assets has never been more important to corporate well-being. Granted, the dangers of patent infringement, license violations and counterfeiting have always been a threat to an IP-owner's profit margin. With...

Cuba after Castro: The next Bermuda?
August 1, 2006... By William J. Casey and Timothy Ashby April 2006 Industry Focus To read the complete text of "Cuba after Castro: The next Bermuda?" please visit http://www.nxtbook.com/nxtbooks/rms/ifoc-duanemorris/index.php. This article is...

On Precedent Created By Chadbourne Advocacy, Court Rejects Work-Product Waiver Argument.(Case overview)
August 1, 2006... See ASPCA v. Ringling Bros. and Barnum & Bailey Circus, 233 F.R.D. 209 (D.D.C. 2006) This case for declaratory and injunctive relief under the Endangered Species Act, based on defendants' allegedly unlawful handling of Asian elephants,...

Pre-Deposition Review of Privileged Document Does Not Create Automatic Waiver.
August 1, 2006... See In re:Managed Care Litigation,415 F.Supp.1378 (S.D. Fla.2006) The hunt for privileged documents in litigation is in some ways like the search for the Holy Grail -- an extended and difficult quest. The issue often arises, and is at its...

Clark Contracts Wins [pounds sterling]3.9 Million Church Contract.
August 1, 2006... Clark Contracts, the construction, maintenance and refurbishment specialist with offices at Paisley and Edinburgh Park, has won a prestigious [pounds sterling]3.9 million refurbishment and expansion contract for one of the most distinctive...

Trailblazing Tower Block Refurbishments Promise Comfort, Lower Fuel Bills And A Fresh New Look for Chalcots Residents.
August 1, 2006... Rydon Construction and Rydon Property Maintenance have won the contracts to respectively carry out refurbishment and maintenance of five tower blocks built on the Chalcots Estate in 1960s. The contracts are being carried out as part of a...

Brikmat Impresses CITB-Construction Skills Chairman.
August 1, 2006... Brikmat made a big impression on Sir Michael Latham, CITB-Construction Skills Chairman, when he presided over the opening of Newcastle College's Construction Skills Academy1. Sir Michael joined leading construction professionals from across...

Putting Training On A Higher Platform.
August 1, 2006... As the construction industry is putting itself through its paces to update its image and introduce compliance at every level, there are some organisations already thinking ahead of the game. HAKI has always prided itself on delivering a unique...

Copper Charisma.(Brief article)
August 1, 2006... Isn't it time to give your garage the door it deserves! How about the UK's first all copper garage door, designed to give prestigious homes the edge in the head-turning stakes, which is being launched Chamberlain Doors. The exclusive...

Vulcan Solutions Launches Fire Safety Software VulcanLite.
August 1, 2006... Vulcan Solutions, a fire engineering research firm set up by The University of Sheffield in collaboration with Buro Happold, has launched VulcanLite, a tailor-made version of its general fire safety software Vulcan. VulcanLite takes...

On Target Hammer Operation - It's a Knockout.
August 1, 2006... Construction tool distributors Damar International Ltd are about to launch a revolution that will improve safety, reduce manpower and speed work in all branches of construction and agriculture. Slide Sledge, an accurate yet heavy duty...

Bucknall Austin and CLC Create New Driving Test Centre.(Brief article)
August 1, 2006... Property and construction consultant Bucknall Austin has built a new driving test centre in Camberley working alongside building refurb, maintenance and painting services company CLC Group. Bucknall Austin completed the design of the test...

Call to Protect Construction Workers from the Heat.
August 1, 2006... With temperatures expected to reach record highs this week, the British workforce looks set to swelter in the heat. And while health and safety legislation indicates minimum temperatures below which workers should not have to work, laws...

Energy Efficiency is a Solution to Today's Surge in Gas and Electricity Prices.
August 1, 2006... - sustainable development expert's top 5 tips to making your home more energy efficient Gas and electricity prices in the UK are going to rise again, one of the leading energy suppliers announced this morning. This spells more misery to...

BPF and CCG Raise Safety Fears.(Construction Clients Group)(British Property Federation)
August 1, 2006... The Construction Clients Group (CCG) and British Property Federation (BPF) have raised serious concerns about construction regulations which fall short of government health and safety objectives. The new regulations place undue burdens on...

Housing Corporation Agrees Terms with George Wimpey on Largest Funding Award for UK House Builder to Date.
August 1, 2006... George Wimpey, one of the country's leading house builders, has agreed the final terms on a contract to secure funding from the Housing Corporation to build subsidised affordable homes in England. The funding award of an initial [pounds...

NHBC Advice for Working in the Summer Sun.
August 1, 2006... As temperatures continue to soar this summer, NHBC is supporting Cancer Research UK's Sunsmart campaign, to raise the profile of skin cancer awareness for outdoor workers. Skin cancer has become the most common cancer in the UK, with over...

Innovative Construction brings Affordable Homes to Hackney.(Servite Houses)(Sandwood Construction)
August 1, 2006... Servite Houses' new development Homerton Quarter Mackintosh Lane in Hackney, is bringing affordable homes and commercial opportunities to a desirable corner of east London, a stones throw from Hommerton Station. The development is...

Wolseley UK Boosts Brand Development Team.(Brief article)
August 1, 2006... Wolseley UK, the UK's largest distributor of plumbing and heating products and a major supplier of building materials, has announced a re-structuring of its Brand Development team. Matt Nichols, currently business development director, will...

SOL Set for Success with the Salvation Army Housing Association.(SOL Construction)
August 1, 2006... SOL Construction has secured a three year contract with the Salvation Army Housing Association. SOL will be carrying out day to day response maintenance including full 24 hour emergency cover for hostels and domestic housing. The three...

Effectively Managing a Global Patent Litigation Strategy.
August 2, 2006... Reprinted with Permission from the 2006 issue of the Lexpert/ALM Guide to the Leading 500 Lawyers in Canada. (c) Thomson Carswell." Introduction Patent litigation is increasingly fought on a global basis. This is particularly so in...

Workplace Relations Update - March 2006.
August 2, 2006... The Workchoices Legislation Commences Today Are you ready? If you are unsure you can obtain more details from our recent series of updates on the WorkChoices legislation. click here... for Part 1 of the series click here... for...

Building & Construction Update - July 2006.(Case overview)
August 2, 2006... Contents How low can the hurdle go?: the minimum requirements for a valid payment claim Shell Refining v A J Mayr Engineering Claims for related goods and services provided outside NSW Legislative watch Independent...

Federal Court of Appeal Overrules the Competition Tribunal in Commissioner of Competition v. Canada Pipe.
August 2, 2006... In Commissioner of Competition v. Canada Pipe (released on June 23, 2006), the Federal Court of Appeal (the "FCA") held that the Competition Tribunal ("Tribunal") applied the wrong tests when it determined that Canada Pipe's loyalty rebate...

Property Update - July 2006.
August 2, 2006... Contents Should legal agreements contain a company's ACN or ABN? Registering second mortgages SHOULD LEGAL AGREEMENTS CONTAIN A COMPANY'S ACN OR ABN? SURPRISINGLY, THE CHOICE CAN HAVE QUITE WIDE-RANGING CONSEQUENCES Background...

Corporate Social Responsibility (CSR) Update.
August 2, 2006... Parliamentary Joint Committee report on corporate responsibility What are the implications for directors' duties? The Parliamentary Joint Committee on Corporations and Financial Services (Committee) published its report on Corporate...

NZ Insolvency Bulletin.(home for creditors)
August 2, 2006... Contents Directors of a 'phoenix company' ordered to compensate creditors Official Assignee obtains share of director's home for creditors Court of appeal sends warning to 'sleeping' directors Working with Voluntary...

New Retirement Procedures.
August 2, 2006... Originally published July 2006 The major change which will affect every employer in the country is the need to introduce new procedures on retirement. Sejal Raja explains. The Regulations will not only prevent discrimination occuring in...

Environment @ Gowlings - June 2006.
August 2, 2006... Edited by Katherine van Rensburg International CEC Orders Factual Record for Quebec Automobiles Submission Federal Legislation/Regulatory Developments New Pest Control Products Act in Force Federal Parent Crown...

Football Fever: Insurers' Headache?
August 2, 2006... Whatever disappointments the recent World Cup may have brought, football is possibly more popular than ever. With this, of course, comes opportunity. The money to be made by the clubs, media and the players has escalated at an incredible rate....

Renegotiating Outsource Agreements.
August 2, 2006... With the current increase in the number of outsource agreements being renegotiated, it is appropriate to look at some of the important factors that need to be taken into account before joining the renegotiation bandwagon. The customer's...

Scope of Duty - The Decision in Football League.(ITV Digital)
August 2, 2006... In a decision to be welcomed by professionals and their insurers, the Court in the Football League Ltd v edge ellison took a narrow approach to the scope of duty, confirming that there is no such thing as a general retainer and that only in...

An Introduction to Dispute Resolution Procedures - Part 2.
August 2, 2006... In the concluding of a two-part article, (to read part 1 please click here) Nicholas Gould considers some of the alternative and more innovative dispute resolution procedures that are used in the construction industry. Mediation and...

The Long-Awaited Rapanos Decision Narrows Clean Water Act Jurisdiction Over Wetlands and Tributaries, But Leaves Important Questions Unresolved.
August 2, 2006... On June 19, 2006, a sharply divided U.S. Supreme Court issued its highly anticipated decision regarding the scope of jurisdiction under federal Clean Water Act Section 404 governing filling of wetlands and other discharges of dredged or fill...

Georgia Federal Court Reverses Trend of Refusing to Enforce Releases of "Qui Tam" Claims.
August 2, 2006... Healthcare providers often attempt to limit their potential exposure to claims by former employees by entering into severance agreements upon termination. In exchange for a severance payment to the terminated employee, the employee is required...

California's Supreme Court Requires Employers Nationally to Re-Examine Telephone Monitoring Policies and Practice.
August 2, 2006... In a unanimous decision with national implications, the California Supreme Court ruled July 13, 2006, in Kearney v. Solomon Smith Barney, Inc. ("SSB"), that out-of-state businesses are prohibited from secretly monitoring or recording their...

Medicare Part D: Limitations Imposed on Residential Services Providers in Assisting Residents to Choose Their Plan.
August 2, 2006... Although the new Medicare Part D prescription drug benefit will have its greatest direct impact on elderly individuals, prescription drug plans ("PDPs") and pharmacies, certain aspects of the new law concerning "marketing activities" apply...

Supreme Court of British Columbia Grants Permanent Injunction Against Northgate, Ending its Hostile Take-Over Bid for Aurizon.
August 2, 2006... On June 29, 2006, the Supreme Court of British Columbia (the "Court") reached the conclusion that a Confidentiality and Standstill Agreement dated October 19, 2005 (the "Northgate Agreement") between Aurizon Mines Ltd. ("Aurizon") and...

Converting to an LLP.(Limited Liability Partnership )
August 2, 2006... A number of firms in the financial services industry are looking to convert to Limited Liability Partnership (LLP) status. But what is driving this desire for conversion and are LLPs the structure of the future? Prior to the introduction...

Energy Client Alert, August 2006.
August 2, 2006... FERC ISSUES FINAL RULE RELATING TO LONG-TERM FIRM TRANSMISSION RIGHTS On July 20, 2006, the Federal Energy Regulatory Commission ("FERC") issued a final rule requiring transmission organizations in organized electricity markets to make...

Antidilution Provisions: The Next FAS 123(R) "Gotcha!".
August 2, 2006... Article by Mark Bradford, Dan Meehan, Buff Miller,Tom Reicher, David Walsh and Thomas Welk Recently, many accounting firms have alerted their clients to the application of FAS 123(R) in the context of equity restructurings (e.g., stock...

MiFID - Analysis of FSA's July consultation paper.(Financial Services Authority)
August 2, 2006... FSA's latest consultation paper (CP06/14 - Implementing MiFID for Firms and Markets) was published on 31 July 2006. The CP covers a number of general points of interest (which are outlined below), as well as markets and client assets/money...

Internet Gaming Poses Challenges for Financial Institutions.
August 2, 2006... Article by John Tuzyk and Dawn Jetten, [c]2006 Blake, Cassels & Graydon LLP This article was originally published in Blakes Bulletin on Financial Services, July 2006 Recent U.S. developments have highlighted issues relating to...

Maryland's "Fair Share" Health Act Invalidated by Federal Court (And the Possible Consequences for Massachusetts Health Care Reform).(Maryland fair share law)
August 2, 2006... On January 12, 2006, the Maryland legislature enacted, over the Governor's veto, the Fair Share Health Care Fund Act (the "Maryland fair share law"), which requires businesses with 10,000 or more employees to spend eight percent (six percent in...

The Extraterritorial Reach of U.S. Patents: Implications for the Global Marketplace.(interpretation of patent infringement law)
August 3, 2006... A version of this article was originally published in the third in a series of reports published by BNA International as part of the IP & Technology Programme, May 2006 Copyright [c] Finnegan, Henderson, Farabow, Garrett & Dunner, LLP ...

The Inequitable Conduct Plague in U.S. Patent Litigation: Is It Over and is the CAFC Moving Away from An Absolute Liability Standard?
August 3, 2006... This article was originally published in the second of a series of reports published by BNA International as part of the IP & Technology Programme, April 2006 Copyright [c] Finnegan, Henderson, Farabow, Garrett & Dunner, LLP ...

Banking & Finance Update - July 2006.(Anti-money laundering and counter-terrorism financing)
August 3, 2006... Contents AML/CTF - impact on the mortgage industry Are all mortgage preparation services the same? AML/CTF - IMPACT ON THE MORTGAGE INDUSTRY A revised exposure draft of the AML/CTF bill and draft rules were released for...

It Always Pays to Win - But Sometimes It Pays More.(assessment of indemnity cost)
August 3, 2006... Under the English Civil Procedure Rules the Court has discretion as to whether costs are payable by one party to any other, the amount of those costs and when they are to be paid. (CPR 44.3) The general rule is that the unsuccessful party will...

Who Can Do What for LDCs and Their Affiliates?(municipally-owned electric distributors)
August 3, 2006... On July 10, 2006, the Chief Compliance Officer (the "CCO") of the Ontario Energy Board issued two Compliance Bulletins1 with respect to what activities could and could not be done by electricity distributors and their affiliates. The CCO has...

Corporate Risk And Insurance Update - July 2006.(vicarious liability)
August 3, 2006... Contents The High Court's Recent Application of Vicarious Liability High Courts application of Section 43 of the Personal Injuries Proceedings Act 2002 (Qld) The recognition of Psychiatric Injury in the workplace in light of the...

Privatization of Electricity Distribution Sees the Light.
August 3, 2006... As our readers may recall from our Autumn 2005 edition, TEDA?1 was included in the privatization program to be carried out by the Privatization Authority ("PA"), together with the "Strategy Paper on Privatization and Reform in Electricity...

Outsourcing in Financial Services.(Banking Regulation and Supervision Agency)
August 3, 2006... Similar to the trend in other parts of the globe, the need for expertise in extremely fast developing information technology as well as cost efficiency concerns have increased the number of financial institutions in Turkey willing to outsource...

Product Recall: A Costly Business.(insurance of product recalls)
August 3, 2006... The recent recall of Cadbury chocolate bars after a salmonella scare illustrates the difficulties in dealing with a potential safety problem with a product. A product recall can be expensive and a manufacturer may well look to pass that cost on...

AIM - The First XI.(Alternative Investment Market)
August 3, 2006... AIM is 11 years old this month. It has enjoyed some outstanding publicity recently, which is no doubt one of the reasons why Deutsche B|rse, NASDAQ, Euronext and Macquarie have been circling the LSE with interest. Some background might help to...

Competition & Trade Practices: Measuring Market Power in a Power Pool?
August 3, 2006... Wholesale power pools present a number of complex challenges for regulators. Foremost amongst these challenges is the need to identify both the existence and use of market power. To this end, this paper considers the merits of several different...

The Draft Insurance Law.
August 3, 2006... The Turkish insurance sector has undergone serious changes in the last years and the complexity of the applications in the sector has increased because of the financial instability and tax system. In the year 1987, a remarkable insurance...

Control Over Staff Physicians: What Is The Risk of Employee Status Under Federal Law?
August 3, 2006... Hospitals exercising control over medical staff physicians in the supervision and quality of medical care risk being classified as the employer of their staff physicians under employment laws, thus exposing the hospitals to potential liability...

Landlords take note...(eviction of tenants from premises)
August 3, 2006... Where premises are let partly for residential and partly for business purposes and the tenant resides in the residential part the landlord will not be entitled to evict the tenant from the premises (including the commercial part) unless he...

SEC Approves the Adoption of Sweeping Compensation Disclosure Reform.(Securities and Exchange Commission)
August 3, 2006... The Securities and Exchange Commission (SEC) unanimously approved the adoption of sweeping amendments to the disclosure requirements for executive officer and director compensation and benefits. The SEC also approved the adoption of amendments...

Payment Card Industry Data Security Standard - Does Your Company Store, Process or Transmit Cardholder Data?(management of data security)
August 3, 2006... " Deloitte demonstrated the required technical knowledge of the standard giving us assurance they would provide us with a practical and pragmatic roadmap to compliance." Director of Internal Control and Compliance, Major Gaming Operator ...

Introducing Drug and Alcohol Testing Procedures.(alcohol affected employees in workplace)
August 3, 2006... Drug and alcohol abuse can negatively affect an individual's ability to perform their job. What can employers do if they suspect employees are adversely affected by alcohol or illegal drugs in the workplace? From a sudden or gradual...