The EC fined Electrabel €20 million for acquiring Compagnie Nationale du Rhône ("CNR ") without prior EC approval.
EC fines Electrabel €20 million for gun-jumping
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Parties cannot avoid Commercial Agents Regulations by choice of non-EU law and arbitration (Herbert Smith LLP)
In Accentuate v Asigra [2009] EWHC 2655 (QB) the English High Court held it had jurisdiction to hear a claim for compensation under the Commercial Agents (Council Directive) Regulations 1993, even though the relevant agreement was subject to a choice of Canadian law and arbitration and the Canadian arbitral tribunal had already ruled against the claim.
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You don't need to be prompt, just don't be too late (MacRoberts)
On 28 January, the European Court of Justice (ECJ) handed down its judgment in Uniplex (UK) Ltd (Uniplex) v NHS Business Services Authority (NHS) (C-406/08).
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C-311/08 SGI – transfer pricing (Dorsey & Whitney LLP)
This case concerned what the ECJ (and the Belgian revenue and courts) appeared to regard as an uncommercial tax scheme.
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Competition law in transport: review of 2009 (Field Fisher Waterhouse LLP)
This article describes the main developments in the application of European Competition law in the transport sector during 2009.
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European Commission passes new e-Privacy Directive requiring mandatory data breach notification by public communications providers (A&L Goodbody)
The European Commission has passed a new e-Privacy Directive 2009/136/EC (the Directive) which makes it mandatory for public communications providers (ISPs and telcos) to inform national regulatory authorities of any data security breach.
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AIFM directive: Spanish presidency publishes issues note on draft versions (Clifford Chance LLP)
The EU Council has published an issues note prepared by the Spanish Presidency comparing the EU Council's 15 December 2009 compromise proposal and the EU Parliament's draft report by Jean-Paul Gauzès, Rapporteur to the ECON Committee.
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EU approves new standard contractual clauses for transfers to data processors (Hunton & Williams LLP)
On February 5, 2010, the European Commission adopted a new set of standard contractual clauses ("SCCs") for transfers of personal data from data controllers in the EU to data processors outside the EU.
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Hunton & Williams prepares study for the European Commission on the interaction between data protection law and copyright enforcement (Hunton & Williams LLP)
On February 3, 2010, Christopher Kuner, a partner in Hunton & Williams' Brussels office and head of the firm's EU Privacy Practice, presented to the "Stakeholders' Dialogue on Illegal Uploading and Downloading," organized by DG Internal Market and Services of the European Commission.
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T-Mobile and Orange seek EU approval to create largest wireless carrier in the United Kingdom (Patton Boggs LLP)
Deutsche Telekom AG and France Telecom SA submitted their proposed merger of T-Mobile UK and Orange UK to European Union antitrust regulators for review.
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AIFM Directive update (Mayer Brown LLP)
Mayer Brown has previously provided an assessment of the Council of the European Union's ("Council") draft compromise proposal (the "Compromise Proposal") on the Directive on Alternative Investment Fund Managers (the "Directive") published on 12 November 2009.
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Google seeks U.S. nod to trade wholesale electricity (Patton Boggs LLP)
Google is seeking U.S. approval to trade wholesale electricity to reduce costs associated with buying renewable energy resources such as wind and solar power.
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Aboriginal law 2009 - a year in review (Gowling Lafleur Henderson LLP)
The Court recognized that there is a historic and present rights-bearing Métis community within the entire area of southern Manitoba.
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Renewable Energy Credits taking shape in Ohio (Bricker & Eckler LLP)
The value of Renewable Energy Credits ("RECs") took another step toward gaining a more definitive market value in Ohio with the completion of the Alternative Energy Portfolio rules ("Rules") by the Public Utilities Commission of Ohio ("PUCO").
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CFTC proposes to set position limits in the energy futures market (Cadwalader Wickersham & Taft LLP)
The Commodity Futures Trading Commission (the "CFTC" or "Commission") has published a release containing a proposed rulemaking that would (i) establish federal speculative position limits for futures on four major energy commodities; (ii) establish new standards for obtaining exemptions from such limits for bona fide hedging transactions and for certain swap dealer risk management transactions; and (iii) establish standards for aggregating positions in energy contracts.
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Federal Court blocks CSR demerger (Blake Dawson)
CSR Limited's proposal to demerge its sugar and renewable energy business by way of scheme of arrangement has been blocked by the Federal Court.
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A quick discourse on shale gas (Gowling Lafleur Henderson LLP)
Much has been written recently on the topic of shale gas.
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Dampier to Bunbury Natural Gas Pipeline undertakings varied (Blake Dawson)
The ACCC has consented to vary undertakings accepted in 2004 as a condition for approval of the acquisition of the Dampier to Bunbury Natural Gas Pipeline (DBNGP) by a consortium comprising Alinta, Alcoa and DUET.
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Crack down on "green washing" (Blake Dawson)
The ACCC has instituted proceedings against Prime Carbon Pty Ltd, which sells a "soil carbon and sequestration program" to farmers.
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What is the duty to consult, anyway, and why is it important? (McMillan LLP)
Mining and energy companies exploring and operating in Canada will at some time find themselves developing or needing to develop relationships with Aboriginal peoples.
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Restrictions on input tax credits for HST on energy and other inputs (Gowling Lafleur Henderson LLP)
British Columbia and Ontario are replacing their provincial sales taxes and the federal Goods and Services Tax (GST) with a single Harmonized Sales Tax (HST) from July 1, 2010.
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Virgin Blue and Delta Air Lines joint venture authorised (Blake Dawson)
Authorisation has been granted by the ACCC to Virgin Blue and Delta Air Lines for a joint venture on their flights between Australia and the US.
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C7 decision: meaning of ‘purpose’ (Freehills)
On 2 December 2009, the Full Court of the Federal Court of Australia handed down its decision in Seven Network Limited v News Limited, the appeal from the widely publicised 'C7' decision in 2007.
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Lower thresholds for both Competition Act and Investment Canada Act in 2010 (Stikeman Elliott LLP)
Unless changed by regulation, the "size of target" threshold for advance notification under the Competition Act of transactions involving Canadian businesses will likely be reduced to C$67 million, in accordance with the GDP indexing provisions which were introduced in amendments to the Act last March.
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Competition law in transport: review of 2009 (Field Fisher Waterhouse LLP)
This article describes the main developments in the application of European Competition law in the transport sector during 2009.
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Ticketmaster and Live Nation agree to consent agreement to resolve Competition Bureau concerns (Stikeman Elliott LLP)
On January 25, 2010, the Competition Bureau announced that it had entered into a consent agreement with Ticketmaster Entertainment, Inc. and Live Nation, Inc. to resolve competition concerns identified by the Bureau with respect to their proposed merger.
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ACCC approves joint venture of Virgin Blue and Delta Air Lines (Freehills)
The ACCC has authorised a joint venture between Virgin Blue Group (Virgin) and Delta Air Lines, Inc. (Delta) in relation to flights between Australia and the USA.
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Dampier to Bunbury Natural Gas Pipeline undertakings varied (Blake Dawson)
The ACCC has consented to vary undertakings accepted in 2004 as a condition for approval of the acquisition of the Dampier to Bunbury Natural Gas Pipeline (DBNGP) by a consortium comprising Alinta, Alcoa and DUET.
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Competition and antitrust in Canada (McMillan LLP)
First enacted in 1889, Canadian competition legislation predates the Sherman Act.
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T-Mobile and Orange seek EU approval to create largest wireless carrier in the United Kingdom (Patton Boggs LLP)
Deutsche Telekom AG and France Telecom SA submitted their proposed merger of T-Mobile UK and Orange UK to European Union antitrust regulators for review.
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When is a global market a ‘market in Australia’ for the purposes of the TPA (DibbsBarker)
The recent decision of the Full Court of the Australian Federal Court in the case of Singapore Airlines Ltd v Australian Competition and Consumer Commission [2009] FCAFC 136 is likely to have ramifications for overseas entities conducting business in global markets including Australia.
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House of Representatives passes bill to require registration of private fund managers (Fried Frank Harris Shriver & Jacobson LLP)
On December 11, 2009, the U.S. House of Representatives passed the “Wall Street Reform and Consumer Protection Act of 2009” by a vote of 223 to 202.
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Recent trends in acquisition financings (Fried Frank Harris Shriver & Jacobson LLP)
The acquisition financing market showed gradual but steady improvement in 2009.
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Department of Justice Antitrust Division challenges pre-merger gun jumping (Fried Frank Harris Shriver & Jacobson LLP)
On January 21, 2010, the Antitrust Division of the Department of Justice (the “DOJ”) announced that it had brought suit against pork processors Smithfield Foods, Inc. (“Smithfield”) and Premium Standard Farms, LLC (“PSF”) alleging that the parties' conduct during the statutory pre-merger waiting period violated the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”).
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Heightened manager concerns for secondary transfers (Fried Frank Harris Shriver & Jacobson LLP)
Liquidity concerns created by the recent financial crisis have resulted in fund managers receiving an unprecedented number of requests by investors to transfer interests in private equity funds.
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Bank control rules evolving to balance need for new capital and regulatory policies (Fried Frank Harris Shriver & Jacobson LLP)
The manner by which the agencies that oversee U.S. financial institutions regulate private equity investment in the banking business profoundly affects the ability of failing banks to attract capital, avoid taxpayer bailouts and minimize losses to the Deposit Insurance Fund.
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New Regulation G guidance for 2010 earnings season (Fried Frank Harris Shriver & Jacobson LLP)
In order to encourage registrants to provide more meaningful financial information to investors following the 2008-9 global economic crisis, the Division of Corporation Finance Staff has updated its Regulation G-related C&DIs (Compliance and Disclosure Interpretations).
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SEC staff issues C&DIs interpreting new disclosure requirements relating to corporate governance and executive compensation (Fried Frank Harris Shriver & Jacobson LLP)
On December 16, 2009, the SEC issued significant new rules requiring enhanced disclosure of compensation and corporate governance matters by registered companies.
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Commodity Futures Trading Commission proposes position limits in the energy futures and options markets (Fried Frank Harris Shriver & Jacobson LLP)
On January 14, 2010, the Commodity Futures Trading Commission ("CFTC") approved for publication in the Federal Register proposed rule amendments that would establish position limits for futures and options contracts in four major energy commodities (light sweet crude oil (West Texas Intermediate or WTI), New York Harbor gasoline blendstock, New York Harbor No. 2 heating oil, and Henry Hub natural gas) (the “Proposed Rules”). 75 Fed. Reg. 4144 (January 26, 2010).
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Tax Chamber decision in Laerstate is a cautionary tale of a failure to maintain non-UK tax residence (Fried Frank Harris Shriver & Jacobson LLP)
A recent decision of the Tax Chamber of the UK’s newly constituted First-Tier Tribunal, Laerstate BV v Commissioners for HMRC, provides a reminder that the maintenance of non-UK corporate residence requires careful management, particularly when influential personnel are active in the UK.
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UK CFC reforms - new discussion document published (Fried Frank Harris Shriver & Jacobson LLP)
A further discussion document relating to the proposed reforms of the UK’s controlled foreign companies regime has now been published, as envisaged by the HM Treasury and HM Revenue & Customs representatives at the joint meeting with stakeholders held on 9th November last year (see "Update on the Reform of the UK’s CFC Tax Regime", 10th November).
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