On Monday, July 5, 2021, changes to Ontario’s Business Corporations Act (OBCA), will take effect. The latest updates to the law reflect an effort to modernize aspects of the OBCA and enable the Canadian province to compete more effectively, nationally and internationally, as a home for corporate headquarters. Among other changes, two will have a
In what may be a sign of things to come in other countries, Ally Law member firm Russell Kennedy reports that temporary relief measures introduced in Australia at the height of the coronavirus pandemic to facilitate electronic signing of documents and virtual annual general meetings (AGMs) have now expired. It had been hoped that the
The Bureau of Economic Analysis (BEA) conducts various surveys of U.S. multinational companies and U.S. affiliates of foreign enterprises to generate statistical information regarding the global business activities of U.S. based companies and the impact of foreign investment by non-U.S. based companies. Generally, individuals and entities are only required to complete and file a BEA
Coronavirus (COVID-19) is having an unprecedented impact on the world’s economy, including historic stock market declines, a virtual standstill in business and leisure travel, closures of schools and businesses, and a focus on “social distancing” through remote working (or not working at all). These shocks are being felt acutely by public company boards of directors
The European Parliament’s negotiating team reached a deal with the Council on 18 December 2019 on EU-wide rules to help crowdfunding services function smoothly and to foster cross-border business funding. Crowdfunding is progressively more of an alternative form of finance for start-ups, as well as for small and medium enterprises (SMEs) at an early stage
In a recent ruling by the Judge of the Economic Department of the Tel Aviv District Court, Ruth Ronen, a guideline was given in relation to the application of the Business Judgment Rule doctrine to decisions taken by the officers of a company in the context of dividend distribution. In the case, an application to
In the context of the fight against money laundering and terrorist financing, the European Union (EU) adopted on May 20th, 2015, Directive (EU) 2015/849 (known as “4th AML Directive”) and on May 30th, 2018, Directive (EU) 2018/843 (known as “5th AML Directive”) (together, the “Directives“). These Directives provide for a series of measures to prevent
For those who have tracked the Indian aviation market over the last few years, the recent developments at Jet Airways may perhaps be a déjà vu moment. Ironically, just as India is basking in its status as one of the fastest growing aviation markets in the world, comes the news that there is trouble brewing
A “Representative Office” allows a foreign investor to evaluate potential market opportunities without the need to establish a subsidiary in Thailand. Thus, it provides an interesting vehicle for foreign investors who may be considering entering the Thai market. Thailand has recently made the set-up process of such an office more investor friendly. Previously, prior to
On 8 May 2018, Scott Morrison, Treasurer of Australia, delivered the 2018 budget. In addition to a number of tax cuts and related proposals, the budget includes new measures to increase director liabilities and compliance, specifically targeting illegal company ‘phoenix activity’. The Treasurer has committed $40 million over four years to tackle illegal phoenix activity
