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Alerts/Updates
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Global Government Solutions 2010 - The Year Ahead, K&L Gates Publication, January 2010.
2009 brought a further transformation in the relationship between business and government. Regardless of political systems or philosophies, governments around the world became more dynamic and intrusive in response to the financial crisis.
This 2010 Annual Report, prepared by members of the K&L Gates Global Government Solutions initiative, contains concise articles that seek to forecast likely government actions and priorities regarding a broad spectrum of topics.
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Newly Amended Chinese Insurance Law, Insurance Coverage Alert, by Yujing Shu, John M. Sylvester. December 17, 2009.
The newly amended Insurance Law of the People’s Republic of China ("Insurance Law") became effective on October 1, 2009. Compared with the previous version of the law, enacted in 2002, the amended Insurance Law provides more rights for policyholders and additional obligations for insurance companies. These amendments are worthy of note by foreign companies that purchase insurance policies in China, as well as foreign-owned insurance companies doing business in China. In addition, there are several key changes in the amended law regarding the establishment and management of both domestic and foreign-owned insurance companies. This Alert summarizes the significant changes effected by this new Insurance Law.
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China Opens Door to Overseas IPOs, Asia and Corporate Alert, by Navin K. Aggarwal, Vincent S. Tso, Yujing Shu, James J. Chen, Amigo L. Xie. July 20, 2009.
According to "Provisions on the Takeover of Domestic Enterprises by Foreign Investors" (the "2006 M&A Rules" or "Circular 10") , where a domestic natural person intends to take over his/her related domestic company using an offshore company which he/she established or controls, the takeover is subject to Ministry of Commerce ("MOFCOM") approval. Where a domestic natural person holds equity interests in a domestic company through an offshore special purpose vehicle ("SPV"), any transaction involving the overseas listing of that SPV is subject to the approval of the China Securities Regulatory Commission ("CSRC"). This has effectively halted the listing of many PRC businesses which did not establish an offshore holding structure prior to the introduction of Circular 10. However, it was never clear whether MOFCOM approval was required where a domestic natural person intends to take over a foreign investment enterprise of which the domestic natural person is a direct or indirect shareholder using an offshore company which he/she established or controls.
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Arbitration World, K&L Gates Publication, by Marcus M. Birch, John L. Boos, Wing L. Cheung, Martha J. Dawson, David R. Fine, Sean Kelsey, Martin J. King, Margaret T. Korgul, Dr. Eberhardt Kühne, Jeremy A. Mercer, Ian Meredith, Yujing Shu, Trudy D. Tessaro, Jerome J. Zaucha, Philippe A. Toudic, Paul Fan. Summer 2008.
An update for clients and contacts on recent development in international arbitration law and practice. The edition contains the following articles:
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Welcome to the 6th Edition of K&L Gates’ Arbitration World
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News from Around the World
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A Step in the Wrong Direction? Court Interventionism, by Marcus M. Birch
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New HKIAC Rules and Co-Operation Agreement, by Wing L. Cheung, Yujing Shu and Paul Fan
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U.S. Appellate Court Enforces Arbitration Provision the Precludes Class Actions, by David R. Fine
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Pitfalls Down Under, by Sean Kelsey
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Chapter 11 of NAFTA: Dispute Resolution Mechanism or Threat to the U.S. Legal System?, by Jerome J. Zaucha
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Best Practices fo U.S. E-Discovery May Aid Parties in International Arbitration, by Martha J. Dawson and Trudy D. Tessaro
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Developments in New York for Bad Faith Claims Against Insurers
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More Reasons to Arbitrate: The Enforcement of Foreign Judgements in Russia, by Margaret T. Korgul
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Arbitration Clauses in Transactional and Corporate Documents Governed by German Law, by Dr. Eberhardt Kühne and Dr. Moritz Dietel
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ABA Draft Best Practices for Arbitrator Disclosures, by Philippe A. Toudic
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The CAS Decision in Webster: All Change in the European Football Transfer Market?, by Martin King
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U.S. Supreme Court Rejects Expanded Judicial Review Options Under Federal Arbitration Act, by Jeremy A. Mercer
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Expansion of China's Outbound Investment Rules Regulating the Qualified Domestic Institutional Investor (QDII) Program, Asia Alert, by Yujing Shu, David K.Y. Tang, Michael S. Caccese, Betty Louie. July 2007.
On July 5, 2007, a new set of rules came into effect which, for the first time, allow PRC brokerage houses and fund management companies to use their client’s funds to invest in overseas fixed income, stocks, and other financial derivative products. It is estimated that a good number of PRC securities and fund management firms will immediately meet the government-established eligibility requirements, and they will join already qualified PRC banks and insurers in offering these overseas financial investment products.
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China Passes New Labor Contract Law, Asia Alert, by Yujing Shu, David K.Y. Tang. July 9, 2007.
The new comprehensive Labor Contract Law (“LCL”) in China was passed on June 29, 2007 by the Chinese Standing Committee of the National People's Congress (the highest legislative body in China) and will take effect starting January 1, 2008. Although the LCL includes some provisions that have appeared in previous legislation, what makes this new law different is the Chinese government's apparent willingness to enforce mandates to protect employees' rights. Under the LCL, employers are required to give employees written employment contracts, the use of temporary labor is restricted in certain ways, and termination of employees requires more diligence. Despite complaints by foreign investors’ that the new law makes it more difficult to do business in China, and that it erodes the mainland's low-cost labor advantage, the Chinese government has pursued this new law as its latest step in its campaign for a "harmonious society."
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Articles
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China Passes New Labor Contract Law In Effort To Achieve Its Goal Of Maintaining A “Harmonious Society”, Metropolitan Corporate Counsel, by Yujing Shu, David K.Y. Tang, Kelly Zhu. December 2007.
The comprehensive Labor Contract Law was passed on June 29, 2007 by the Chinese Standing Committee of the National People’s Congress (the highest legislative body in China) and will take effect starting January 1, 2008. The authors examine the differences in the new law vis-à-vis previous legislation, and discuss its implications for U.S. firms doing business in China.
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Press Releases
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Preston Gates & Ellis LLP Names 15 New Partners, November 30, 2006.
Preston Gates & Ellis LLP, announces that it named 15 new partners in its Seattle, San Francisco, Spokane, Washington, D.C. and Beijing offices.
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Webinars
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Global Export Controls Webinar: A Snapshot of the U.S., EU, and PRC, K&L Gates Presentation, by Jerome J. Zaucha, Vanessa C. Edwards, Dr. Christian Hullmann, Robert V. Hadley, Yujing Shu, Vita Xu. July 9, 2009.
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Succeeding in China: Solutions to Business Operating Issues, presented via webinar, by David K.Y. Tang, Clifford Ng, Yujing Shu, Howard Chen. October 10, 2007.
At this program, a panel of K&L Gates lawyers addressed the many issues facing companies already operating in China. They examined case studies combined with their own experience, to give the audience insight into the potential solutions to some of the key operational and structural problems faced by foreign companies. Click here to view an archived version of the webinar.
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