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International Trade
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October 18, 2024
Conn. Brother Wants No Jail Time In Brazilian Oil Scheme
A Connecticut man who pled guilty to laundering money in a Brazilian oil bribery scheme that also ensnared his brother says he should not be sentenced to jail time because he needs cancer treatments and has been "devastated financially."
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October 17, 2024
Mexico Phosphate Case Shines Light On 3rd-Party Funding
A U.S. deep ocean exploration company's announcement last month that most, if not all, of a $37 million award it won against Mexico would go toward satisfying its obligations to its third-party funder has helped to fuel questions about whether such funding arrangements belong in investor-state arbitration.
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October 17, 2024
US Sanctions Chinese Cos. For Work On Russian Drones
The U.S. Department of the Treasury on Thursday imposed fresh sanctions on three entities, including two from China, for helping develop long-range Garpiya attack drones used by Russia in its deadly war against Ukraine.
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October 17, 2024
Treasury Unit Says Booze Maker Violated N. Korea Sanctions
The U.S. Department of the Treasury's Office of Foreign Assets Control said Thursday that it has reached an $860,000 settlement with a Vietnam-based alcoholic beverage company over its alleged role in allowing U.S. financial institutions to process $1.1 million in payments to North Korea, violating sanctions regulations.
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October 17, 2024
NTIA Drops 1st List Of Self-Identified 'Build America' Makers
The National Telecommunications and Information Administration has released the first list of self-identifying manufacturers complying with the Broadband Equity Access and Deployment program's Build America, Buy America waiver.
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October 17, 2024
Justices Urged To Fix 'Novel Misreading' Of IP Safe Harbor
Edwards Lifesciences is asking the U.S. Supreme Court to rein in what's covered under a drug-development safe harbor to avoid patent infringement, saying the Federal Circuit wrongfully expanded it in a "novel misreading" of the law.
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October 17, 2024
Court Cuts CBP's Recap Of 'Comfy' Duty Review From Trial
The U.S. Court of International Trade barred a customs official from explaining how the agency determined that a "Shark Tank"-featured product is a pullover, saying the agency can't disclose that information during a trial, after withholding it during discovery.
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October 17, 2024
FTX Insider Cites 'Limited' Fraud Role In Bid To Avoid Prison
The former head of engineering at FTX asked a Manhattan federal judge to spare him prison time in light of his cooperation with prosecutors and what he said was a relatively "limited" role in the crypto exchange's billion-dollar fraud.
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October 17, 2024
UK Issues Largest Sanction Ever Against Putin 'Shadow Fleet'
The British government announced Thursday that it has sanctioned 18 oil tankers belonging to Russian President Vladimir Putin's "shadow fleet" and four liquefied natural gas tankers, the largest package of restrictions against Russia since the war in Ukraine began.
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October 16, 2024
TD Bank's $3B AML Deal Sparks Scrutiny Of Its Oversight
The long-standing, widespread compliance failures at the root of TD Bank's blockbuster $3 billion U.S. anti-money laundering settlement last week have stunned experts and brought tough punishment for the Canadian bank — but they're also raising questions about why regulators didn't act sooner.
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October 16, 2024
Airline Owner Can't Force Cravath To Give Docs, Court Says
Cravath Swaine & Moore LLP doesn't have to turn over documents used in the prosecution of an airline owner accused in a scheme to defraud Polar Air Cargo Worldwide of millions of dollars, a New York federal judge ruled Wednesday, saying the defendant hasn't shown the firm was part of the prosecution.
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October 16, 2024
Chinese AI Co. Hit With Investor Suit Over Nasdaq Compliance
China-based artificial intelligence company Xiao-I Corp. was hit with a proposed investor class action in New York federal court alleging it downplayed increasing research and development costs that it was incurring, increasing the likelihood that it would fail to comply with the Nasdaq Stock Market's minimum price requirement after going public.
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October 16, 2024
Feds Deny That West Bank Sanctions Hamper Free Speech
The Biden administration rebuffed claims by a group of U.S. and Israeli citizens that a sanctions program covering extremist actors in the Israeli-occupied West Bank restricts their free speech rights, saying that merely opposing U.S. foreign policy goals isn't a sanctionable offense.
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October 16, 2024
Utah Judge Tosses Mattress Conspiracy Suit For Good
A Utah federal court has tossed a lawsuit accusing major mattress companies and a trade group of conspiring to drive a competitor from the market after finding a lack of evidence showing there was an agreement to harm competition and saying the claims can't be fixed.
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October 16, 2024
RTX To Pay $1B For Qatari Bribes And Defrauding US Gov't
RTX Corp. and its Raytheon subsidiary have agreed to pay approximately $1 billion and enter into two separate deferred prosecution agreements in connection with a bribery scheme to secure Qatari military contracts, as well as separate ploys to defraud the U.S. government in deals for Patriot missile and radar systems.
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October 15, 2024
Transport Monopoly Judge Accepts Antitrust Guilty Plea
A Texas federal judge has accepted a guilty plea from one of a dozen individuals in an antitrust case whom the government accused of using violence and intimidation to monopolize cross-border sales of used vehicles and other goods from the U.S. to Central America.
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October 15, 2024
Spain Claims 2 Energy Arbitration Wins In Intra-EU Disputes
Spain said it has won a first with two arbitral awards favoring the country where International Centre for Settlement of Investment Disputes tribunals found they did not have the jurisdiction to hear a dispute under the Energy Charter Treaty between a European Union member state and an EU investor.
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October 15, 2024
US Ups Energy Sanctions On Iran After Israel Missile Attack
U.S. National Security Adviser Jake Sullivan has unveiled expanded sanctions against the Islamic Republic of Iran, including "new and significant measures to more effectively target Iran's energy trade," following its Oct. 1 missile attack on Israel.
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October 15, 2024
FERC Can't Pass On LNG Pipeline Review, DC Circ. Told
The Federal Energy Regulatory Commission shirked its legal obligations when, through inaction, it effectively greenlit the expansion of a liquefied natural gas terminal in Puerto Rico, environmental and community groups told the D.C. Circuit on Friday.
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October 15, 2024
Skadden Picks Up Arbitration Co-Head From Sidley In Asia
The co-leader of Sidley Austin LLP's global arbitration, trade and advocacy group has been tapped to lead Skadden Arps Slate Meagher & Flom LLP's international litigation and arbitration group in Asia, the firm announced on Monday.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
The 2024 Law360 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
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October 15, 2024
Trade Court OKs Reduced Duties On Indonesian Yarn
The U.S. Court of International Trade backed the U.S. Department of Commerce's decision to withdraw a penalty that nearly tripled an Indonesian yarn producer's antidumping duty liability, saying the new duty was unopposed by Commerce and the foreign producer.
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October 11, 2024
Aerospace Firm To Pay SEC $1.1M Over India Bribe Claims
Aerospace components manufacturer Moog Inc. will pay a $1.1 million civil penalty to resolve U.S. Securities and Exchange Commission claims that an Indian subsidiary of the company violated the Foreign Corrupt Practices Act in connection with an alleged scheme to bribe Indian officials.
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October 11, 2024
Apple Watch Patents Dodge Ax As Masimo Jury Trial Nears
A Delaware federal judge has refused to invalidate Apple Inc.'s smartwatch patents being challenged by health technology company Masimo Corp. ahead of this month's jury trial over whether the tech behemoth infringed Masimo's pulse oximetry technology patents.
Expert Analysis
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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Proposed Semiconductor Buy Ban May Rattle Supply Chains
The Federal Acquisition Regulatory Council's recent proposed rulemaking clarifies plans to ban government purchases of semiconductors from certain Chinese companies, creating uncertainty around how contractors will be able to adjust supply chains that are already burdened and contracted to capacity, say attorneys at Morgan Lewis.
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2 Oil Trader FCPA Pleas Highlight Fine-Reduction Factors
Recent Foreign Corrupt Practices Act settlements with Gunvor and Trafigura — the latest actions in a yearslong sweep of the commodities trading industry — reveal useful data points related to U.S. Department of Justice policies on cooperation credit and past misconduct, say Michael DeBernardis and Laura Perkins at Hughes Hubbard.
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Series
Being An EMT Makes Me A Better Lawyer
While some of my experiences as an emergency medical technician have been unusually painful and searing, the skills I’ve learned — such as triage, empathy and preparedness — are just as useful in my work as a restructuring lawyer, says Marshall Huebner at Davis Polk.
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Corporate Insurance Considerations For Trafficking Claims
With the surge in litigation over liability under the Trafficking Victims Protection Reauthorization Act, corporate risk managers and in-house counsel need to ensure that appropriate insurance coverage is in place to provide for defense and indemnity against this liability, says Micah Skidmore at Haynes Boone.
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5 Lessons From Ex-Vitol Trader's FCPA Conviction
The recent Foreign Corrupt Practices Act and money laundering conviction of former Vitol oil trader Javier Aguilar in a New York federal court provides defense takeaways on issues ranging from the definition of “domestic concern” to jury instruction strategy, says attorney Andrew Feldman.
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Decoding Arbitral Disputes: The Benefits Of Non-EU Venues
In Spain v. Triodos, a Swedish appeal court recently annulled an intra-EU investment treaty award, reinforcing a growing trend in the bloc against enforcing such awards, and highlighting the advantages of initiating enforcement proceedings in common law jurisdictions, such as the U.K., says Josep Galvez at 4-5 Gray's Inn Square.
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AI And Trade Controls: A Guide To Expanding Restrictions
With restrictions on trade related to commodities, software and technology integral to high-performing artificial intelligence capabilities expected to expand — particularly between the U.S. and China — companies must carefully consider the export classification of the items they design, produce or procure, say attorneys at Hogan Lovells.
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4 Takeaways From Biden's Crypto Mining Divestment Order
A May 13 executive order prohibiting the acquisition of real estate by a foreign investor on national security grounds — an enforcement first — shows the importance of understanding how the Committee on Foreign Investment in the United States might profile cross-border transactions, even those that are non-notified, say attorneys at Kirkland.
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Insurance Types That May Help Cos. After Key Bridge Collapse
Following the collapse of the Francis Scott Key Bridge, businesses that depend on the bridge, the Port of Baltimore and related infrastructure for shipment and distribution of cargo should understand which common types of first-party insurance coverage may provide recoveries for financial losses, say Bert Wells and Richard Lewis at Reed Smith.
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Exploring An Alternative Model Of Litigation Finance
A new model of litigation finance, most aptly described as insurance-backed litigation funding, differs from traditional funding in two key ways, and the process of securing it involves three primary steps, say Bob Koneck, Christopher Le Neve Foster and Richard Butters at Atlantic Global Risk LLC.
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Salvaging The Investor-State Arbitration System's Legitimacy
Recent developments in Europe and Ecuador highlight the vulnerability of the investor-state arbitration framework, but arbitrators can avert a crisis by relying on a poorly understood doctrine of fairness and equity, rather than law, to resolve the disputes before them, says Phillip Euell at Diaz Reus.
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ITC Ruling Has Serious IP Implications For Foreign Imports
While a recent U.S. International Trade Commission decision is a win for trade secret owners who can show injury to a U.S. domestic industry, the decision also means that companies operating in foreign jurisdictions will be subject to the requirements of U.S. trade secret law, say Paul Ainsworth and Cristen Corry at Sterne Kessler.
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Global Bribery Probes Are Complicating FCPA Compliance
The recent rise in collaboration between the U.S. Department of Justice and foreign authorities in bribery enforcement can not only affect companies' legal exposure as resolution approaches vary by country, but also the decision of when and whether to disclose Foreign Corrupt Practices Act violations to the DOJ, say Samantha Badlam and Catherine Conroy at Ropes & Gray.
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Series
Teaching Yoga Makes Me A Better Lawyer
Being a yoga instructor has helped me develop my confidence and authenticity, as well as stress management and people skills — all of which have crossed over into my career as an attorney, says Laura Gongaware at Clyde & Co.