A share certificate is a legal document proving ownership of shares in a corporation and includes the number of shares owned. A share warrant is a negotiable document issued by a public company as proof of fully paid shares. Insider dealing, also called insider trading, refers to buying or selling securities illegally based on non-public information obtained through work at a publicly traded company to benefit from that insider information.
Orderly Liquidation Authority under Dodd-FrankSimon Lacey
This is a presentation I prepared while at Georgetown University Law Center in 2001 on Orderly Liquidation Authority under the then newly enacted Dodd-Frank Act.
Ensure Your Business is fully ProtectedLegalWiz.in
Term Sheets are a vital document. It forms the base for contracts or agreements. Be aware and fully informed about the relevant details and clauses involved.
A term sheet is a non-binding document that outlines the basic terms of a proposed investment in a company, including valuation, investment amount, ownership stakes, rights, and other key issues. It serves as a template for a binding legal agreement and helps ensure both parties understand the deal terms before incurring legal costs. The term sheet specifies important clauses such as liquidation preference, which dictates how funds are distributed in an exit event, as well as anti-dilution protection, drag along rights, and option pools that allocate ownership stakes to employees.
Did ERISA's Prudent Man Rule Change the Pricing of Dividend Omitting Firms?stasia24
The document analyzes how the Employee Retirement Income Security Act of 1974 (ERISA) may have changed the pricing of firms that omitted dividends. It finds that:
1) ERISA subjected private pension fund managers to a strict "prudent man" rule and changed the legal landscape by disallowing contracts that exempted managers from their fiduciary duty of prudent investing.
2) Dividend-omitting firms underperformed substantially in the post-ERISA period of 1974-1988, but did not underperform in the pre-ERISA period of 1964-1973.
3) This suggests that ERISA's prudent man rule deterred pension funds from investing in dividend-omitting firms,
This document provides an overview of corporate governance in the banking industry. It discusses how banks differ from other corporations in ways that impact governance, such as their role in liquidity production and reliance on deposits. It also summarizes the Basel Accords, international standards for banking regulation and capital requirements. The Basel II Accord introduced three pillars for governance: Pillar 1 sets minimum capital requirements; Pillar 2 focuses on supervisory review of risks and governance standards; and Pillar 3 promotes market discipline through transparency.
The Venture Capital Financing Process: Term Sheet Negotiation. Presentation for entrepreneurs on the legal process of term sheet negotiation with Venture Capitalists.
This document defines and provides examples of different types of business ventures. It begins by defining what a venture is - an undertaking that involves uncertainty and risk in the hope of profit. Examples of ventures include a mountain climbing expedition or starting an online business. The development of most ventures is driven by identifying an unmet demand in the market. Common types of business ventures include sole proprietorships, limited liability companies (LLCs), partnerships, and corporations. Each structure type has different characteristics around ownership, liability, management and more that entrepreneurs should consider when starting a new venture. In summary, the document outlines different venture types and considerations for starting a business.
A share certificate is a legal document proving ownership of shares in a corporation and includes the number of shares owned. A share warrant is a negotiable document issued by a public company as proof of fully paid shares. Insider dealing, also called insider trading, refers to buying or selling securities illegally based on non-public information obtained through work at a publicly traded company to benefit from that insider information.
Orderly Liquidation Authority under Dodd-FrankSimon Lacey
This is a presentation I prepared while at Georgetown University Law Center in 2001 on Orderly Liquidation Authority under the then newly enacted Dodd-Frank Act.
Ensure Your Business is fully ProtectedLegalWiz.in
Term Sheets are a vital document. It forms the base for contracts or agreements. Be aware and fully informed about the relevant details and clauses involved.
A term sheet is a non-binding document that outlines the basic terms of a proposed investment in a company, including valuation, investment amount, ownership stakes, rights, and other key issues. It serves as a template for a binding legal agreement and helps ensure both parties understand the deal terms before incurring legal costs. The term sheet specifies important clauses such as liquidation preference, which dictates how funds are distributed in an exit event, as well as anti-dilution protection, drag along rights, and option pools that allocate ownership stakes to employees.
Did ERISA's Prudent Man Rule Change the Pricing of Dividend Omitting Firms?stasia24
The document analyzes how the Employee Retirement Income Security Act of 1974 (ERISA) may have changed the pricing of firms that omitted dividends. It finds that:
1) ERISA subjected private pension fund managers to a strict "prudent man" rule and changed the legal landscape by disallowing contracts that exempted managers from their fiduciary duty of prudent investing.
2) Dividend-omitting firms underperformed substantially in the post-ERISA period of 1974-1988, but did not underperform in the pre-ERISA period of 1964-1973.
3) This suggests that ERISA's prudent man rule deterred pension funds from investing in dividend-omitting firms,
This document provides an overview of corporate governance in the banking industry. It discusses how banks differ from other corporations in ways that impact governance, such as their role in liquidity production and reliance on deposits. It also summarizes the Basel Accords, international standards for banking regulation and capital requirements. The Basel II Accord introduced three pillars for governance: Pillar 1 sets minimum capital requirements; Pillar 2 focuses on supervisory review of risks and governance standards; and Pillar 3 promotes market discipline through transparency.
The Venture Capital Financing Process: Term Sheet Negotiation. Presentation for entrepreneurs on the legal process of term sheet negotiation with Venture Capitalists.
This document defines and provides examples of different types of business ventures. It begins by defining what a venture is - an undertaking that involves uncertainty and risk in the hope of profit. Examples of ventures include a mountain climbing expedition or starting an online business. The development of most ventures is driven by identifying an unmet demand in the market. Common types of business ventures include sole proprietorships, limited liability companies (LLCs), partnerships, and corporations. Each structure type has different characteristics around ownership, liability, management and more that entrepreneurs should consider when starting a new venture. In summary, the document outlines different venture types and considerations for starting a business.
Small cap stocks refer to stocks between $250 million and $2 billion in market capitalization that are often traded on the NASDAQ or Over-The-Counter Bulletin Board. Investing in small cap stocks provides benefits such as potential for high growth as some were once small businesses, less competition from mutual funds that have difficulty investing in them, and potential to identify undervalued stocks that are undiscovered due to a lack of coverage.
KJW - Spring 2015 - Guide to Transaction OpinionsKyle Wishing
This document provides an overview of fairness opinions and solvency opinions that are commonly provided by independent financial advisors for corporate transactions. A fairness opinion expresses whether a proposed transaction is fair from a financial point of view to assist parties with fiduciary duties like boards of directors. Fairness considers both aggregate and relative fairness to shareholders. Fairness opinions are not recommendations but can reassure parties and show fiduciaries acted reasonably. They are most appropriate when conflicts of interest exist, such as mergers, buyouts, or changes in control. Solvency opinions assess if a transaction leaves a company solvent by comparing assets to liabilities.
This document discusses the differences in corporate governance between banks and other firms. It argues that banks require different corporate governance structures than manufacturing companies due to their unique capital structure, liquidity production function, deposit insurance, and risk of moral hazard. The governance of banks is complicated by the many stakeholders involved, including depositors, taxpayers, and regulators. Bank boards of directors play a crucial role in governance but also face additional expectations from regulators beyond other industries. The document also analyzes empirical data that finds bank holding company boards are typically larger with 18 members on average compared to 12 for manufacturing firms. Bank boards are also subject to more meetings per year due to state regulations.
Interest Rate Derivatives under Dodd-Frankmbscullin
An overview of the impact of the Dodd-Frank Act on interest rate derivatives for market participants that are neither swap dealers nor major swap participants. Summarizes swap clearing and trade reporting requirements.
Section 16 “Group” Status
- Governed by Section 13(d)
- “When two or more persons agree to act together for the purpose of acquiring, holding, voting or disposing of equity securities of an issuer, the group formed thereby shall be deemed to have acquired beneficial ownership, for purposes of Sections 13(d) and 13(g) of the Act, as of the date of such agreement, of all equity securities of that issuer beneficially owned by any such persons”
- Informal oral understanding between parties is sufficient to form a “group”
- Need not bind any partner or specify actions to be taken, may be conditional
Grant Thornton - Broker-dealer industry Hot Topics - symposiumGrant Thornton
The panel discussed several regulatory issues facing the broker-dealer industry, including enhanced capital and liquidity requirements under Basel III, fiduciary standards for broker-dealers and investment advisors, implementation of the Volcker Rule, and increased focus on custody practices. Concerns were raised about requirements for swaps data reporting and ensuring the protection of customer funds.
Help, My Business is In Trouble! (Series: Restructuring, Insolvency & Trouble...Financial Poise
When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should- and should not- consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/help-my-business-is-in-trouble-2021/
The document discusses various areas of financial analysis including corporate finance, financial services, derivative markets, and consulting. Corporate finance aims to maximize shareholder value through long and short-term planning and strategies. Financial services encompass products from banks and other institutions like loans, insurance, and investment opportunities. Derivative markets involve securities whose prices are dependent on underlying assets. Consulting provides advisory services to corporations and individuals on areas such as mergers and acquisitions, projects, wealth management, and more.
The fourth webinar presentation in the M&A Litigation Series examines claims and other rights of action asserted by stockholders in connection with M&A transactions. Various types of claims and proceedings – ranging from fiduciary duty to federal securities to statutory appraisal – are discussed. Director and Officer indemnity and advancement obligations likewise are addressed.
On our agenda:
-Fiduciary Duty and Disclosure Claims
-Federal Securities Claims
-Statutory Appraisal
-Books and Records Inspection Rights
-D&O Insurance and Indemnity and Advancement Obligations
Crowdfinance -101 (Series: Crypto, Crowdfunding & Other Crazy Concepts)Financial Poise
What is the “crowd” in Crowdfinance? What does the crowd thus buy and by what means and modes? And why should the crowd do this rather than put its money to work otherwise? What are the old (and continuing) modes for marketing and selling private securities? What is it like to purchase private securities from on-line portals? How are risks of fraud and mistake allocated there? Do on-line portals help get the rest of us in on unicorns in utero? How are equity securities purchased by the crowd turned into money? Is there a secondary market for private securities? Should ICOs be understood as crowdfinance by other means?
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/crowdfinance-101-2021/
This document discusses techniques for structuring securitization deals to breach the sovereign ceiling. It begins by explaining the rating approach and theory of the sovereign ceiling. Traditional rating approaches viewed the sovereign rating as a cap on private issuer ratings from that country. However, some techniques allow deals to achieve ratings above the sovereign rating. The document then details various structuring techniques used to bypass exchange controls and country risks, including future flows, supply bonds, currency swaps, and guarantees. It also discusses techniques to outlast exchange control periods or provide exemption from controls. Securitization deals in dollarised economies with structural currency links can also potentially achieve above sovereign ratings. Overall, the document examines how investment bankers design securitization deals using various legal and financial
1) Securitization originated from factoring agreements in the 1970s and expanded to include a wide array of assets. It provided advantages like liquidity, cheaper corporate financing, and accounting benefits.
2) However, securitization also led to risks like moving liabilities off balance sheets, reduced monitoring of asset quality, and opaque ratings. Over-reliance on securitized products contributed to the global financial crisis.
3) New structured products like CDOs and CDS further increased complexity, reduced monitoring incentives, and added systemic risks. The proliferation of unregulated financial innovation outpaced the ability of regulators to understand the risks.
Key Provisions in M&A Agreements (Series: M&A Boot Camp)Financial Poise
Although every deal is different, understanding any purchase/sale agreement will help you understand other purchase sale agreements. Stated another way, most M&A documents include a similar set of sections and use a similar vocabulary. This episode explains specific, common provisions and discusses how buyers and sellers approach these provisions differently, particularly in light of situational differences (e.g. whether the assets being bought and sold are equity of a company or the assets of a company; whether the seller is going to cease to exists or not). Topics covered will include tax issues; corporate governance; closing conditions; representations and warranties; indemnification provisions; earn-outs; restrictive covenants; antitrust; intellectual property; and employment issues.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/key-provisions-in-ma-agreements-2021/
IWOGC - Material Nonpublic Information -- 09-21-10InsuranceIR LLC
Presentation prepared for the Insurance Women of Greater Cincinnati (http://www.iwogc.org). IWOGC is a chapter of the NAIW (http://www.naiw.org).
I was pleased to have the opportunity to speak with this group to help educate on an important topic related to investor relations.
TROs and Preliminary Injunctions (Series: Newbie Litigator School 101 - Part 1)Financial Poise
Sometimes—often at the beginning of a case—you need the court to take immediate action to protect your client’s interests or to maintain the status quo while the litigation progresses. This webinar discusses procedures and strategies for obtaining temporary restraining orders and preliminary injunctions. The topics discussed include the procedural and substantive requirements for obtaining TROs and preliminary injunctions, some best practices for how to succeed on motions seeking TROs and preliminary injunctions, and how to challenge and defeat those motions.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/tros-and-preliminary-injunctions-2021/
Partner Julie Murphy-O'Connor, Partner Brendan Colgan and Senior Associate Gearóid Carey of the Corporate Restructuring and Insolvency Group co-author an article for Lexology Navigator - Restructuring and Insolvency in Ireland.
Dodd-Frank Compliance and Technology Summer Meeting 2013Jeffrey C.Y. Li
The document discusses Dodd-Frank compliance requirements and challenges for financial institutions. It outlines four levels of compliance that a company called CPS II can provide, including archiving communications, capturing trade data, securely storing records, and reporting to agencies. It also discusses the compliance discovery, planning, and processing services CPS II offers. The document emphasizes that Dodd-Frank compliance requires appropriate technology, and penalties for non-compliance are severe. It advises financial institutions to learn requirements, identify deadlines, budget for solutions, and prepare to work with technology providers.
This document provides an overview of establishing and growing a mortgage broking business. It outlines the key steps to becoming a mortgage broker including choosing a business structure, obtaining the necessary qualifications and licenses, joining a mortgage aggregator, and becoming accredited with lenders. It then discusses evolving the business from focusing on residential lending to also offering commercial/business lending and complete financial solutions. It emphasizes building a sustainable foundation, focusing on clients over profits, and eventually scaling the business through collaboration or hiring others to handle increased workload.
Financial intermediation is the process where financial intermediaries accept funds from savers and lend those funds to borrowers. This allows for maturity and liquidity transformation between net savers and net borrowers. Financial intermediaries are important as they are major providers of funds to borrowers compared to financial markets. Regulations aim to address moral hazard and curb excessive risk taking by intermediaries given the risks involved in financial services.
A landmark case on the situation of minors in contracts other than necessity, scholarship or insurance. Minor are those below 18 years of age and normally are incompetent to enter into any contracts.
- 1992: UN Framework Convention on Climate Change recognizes human-induced climate change and aims to stabilize greenhouse gas concentrations to prevent dangerous interference with the climate. It places most responsibility on industrialized nations.
- 1997: The Kyoto Protocol is adopted, requiring developed countries to reduce greenhouse gas emissions by 5% below 1990 levels by 2012, with binding targets. It establishes carbon trading mechanisms.
- 2012: The Doha Amendment extends the Kyoto Protocol commitments through 2020, with some countries withdrawing. It establishes less stringent emissions targets. Overall, the Kyoto Protocol represents the first binding international agreement on reducing emissions.
Mediation of international dispute The Islamic perspectiveNasir Ahmad Yousefi
The dispute is a common social process with the multi-dimensional features. This phenomenon exists in all social systems, regardless of their location and time. As humans are social beings, disputes among them are inevitable. From time to time differences arise on various questions between the people living together. There are many ways to resolve disputes on the international stage in the framework of general international law, but whatever makes a valuation on a method compared with other methods is compatibility between the different characteristics created by the method of dispute resolution. Settlement of disputes has been addressed in Islamic culture. Peace and reconciliation in Islamic learning was emphasized by many religious scholars. Nevertheless Islamic law provides for settlement of disputes by many ways of Sulh including mediation. The purpose of this paper is to examine the principles on mediation laid down in the Quran and the Sunnah of Prophet Muhammad (peace be upon him), which are both the primary sources of Islamic law. The paper will seek to apply the deduced principles in contemporary mediation. This article also going to expresses that the Islamic methods can also be applicable in the peaceful resolution of international disputes.
Small cap stocks refer to stocks between $250 million and $2 billion in market capitalization that are often traded on the NASDAQ or Over-The-Counter Bulletin Board. Investing in small cap stocks provides benefits such as potential for high growth as some were once small businesses, less competition from mutual funds that have difficulty investing in them, and potential to identify undervalued stocks that are undiscovered due to a lack of coverage.
KJW - Spring 2015 - Guide to Transaction OpinionsKyle Wishing
This document provides an overview of fairness opinions and solvency opinions that are commonly provided by independent financial advisors for corporate transactions. A fairness opinion expresses whether a proposed transaction is fair from a financial point of view to assist parties with fiduciary duties like boards of directors. Fairness considers both aggregate and relative fairness to shareholders. Fairness opinions are not recommendations but can reassure parties and show fiduciaries acted reasonably. They are most appropriate when conflicts of interest exist, such as mergers, buyouts, or changes in control. Solvency opinions assess if a transaction leaves a company solvent by comparing assets to liabilities.
This document discusses the differences in corporate governance between banks and other firms. It argues that banks require different corporate governance structures than manufacturing companies due to their unique capital structure, liquidity production function, deposit insurance, and risk of moral hazard. The governance of banks is complicated by the many stakeholders involved, including depositors, taxpayers, and regulators. Bank boards of directors play a crucial role in governance but also face additional expectations from regulators beyond other industries. The document also analyzes empirical data that finds bank holding company boards are typically larger with 18 members on average compared to 12 for manufacturing firms. Bank boards are also subject to more meetings per year due to state regulations.
Interest Rate Derivatives under Dodd-Frankmbscullin
An overview of the impact of the Dodd-Frank Act on interest rate derivatives for market participants that are neither swap dealers nor major swap participants. Summarizes swap clearing and trade reporting requirements.
Section 16 “Group” Status
- Governed by Section 13(d)
- “When two or more persons agree to act together for the purpose of acquiring, holding, voting or disposing of equity securities of an issuer, the group formed thereby shall be deemed to have acquired beneficial ownership, for purposes of Sections 13(d) and 13(g) of the Act, as of the date of such agreement, of all equity securities of that issuer beneficially owned by any such persons”
- Informal oral understanding between parties is sufficient to form a “group”
- Need not bind any partner or specify actions to be taken, may be conditional
Grant Thornton - Broker-dealer industry Hot Topics - symposiumGrant Thornton
The panel discussed several regulatory issues facing the broker-dealer industry, including enhanced capital and liquidity requirements under Basel III, fiduciary standards for broker-dealers and investment advisors, implementation of the Volcker Rule, and increased focus on custody practices. Concerns were raised about requirements for swaps data reporting and ensuring the protection of customer funds.
Help, My Business is In Trouble! (Series: Restructuring, Insolvency & Trouble...Financial Poise
When a business becomes financially troubled, the business owner often experiences denial, paralysis, or both. Lenders commonly lose confidence and then trust in the business, as communications tend to break down, deadlines are missed, and promises are broken. Small business owners commonly have issued personal guarantees, so business failure can often lead to personal financial stress. The good news is the business and business owner usually has some options, and even some leverage. This webinar explains what a business owner should- and should not- consider and do when dealing with financial trouble. Specific topics include discussion of bankruptcy (Chapters 7 and 11); assignments for the benefit of creditors; and friendly foreclosures. This webinar provides the business owner and her advisors with an overview of various restructuring and liquidation methods, a framework for how to decide between them, and practical tips for traversing the difficult environment that is financial distress.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/help-my-business-is-in-trouble-2021/
The document discusses various areas of financial analysis including corporate finance, financial services, derivative markets, and consulting. Corporate finance aims to maximize shareholder value through long and short-term planning and strategies. Financial services encompass products from banks and other institutions like loans, insurance, and investment opportunities. Derivative markets involve securities whose prices are dependent on underlying assets. Consulting provides advisory services to corporations and individuals on areas such as mergers and acquisitions, projects, wealth management, and more.
The fourth webinar presentation in the M&A Litigation Series examines claims and other rights of action asserted by stockholders in connection with M&A transactions. Various types of claims and proceedings – ranging from fiduciary duty to federal securities to statutory appraisal – are discussed. Director and Officer indemnity and advancement obligations likewise are addressed.
On our agenda:
-Fiduciary Duty and Disclosure Claims
-Federal Securities Claims
-Statutory Appraisal
-Books and Records Inspection Rights
-D&O Insurance and Indemnity and Advancement Obligations
Crowdfinance -101 (Series: Crypto, Crowdfunding & Other Crazy Concepts)Financial Poise
What is the “crowd” in Crowdfinance? What does the crowd thus buy and by what means and modes? And why should the crowd do this rather than put its money to work otherwise? What are the old (and continuing) modes for marketing and selling private securities? What is it like to purchase private securities from on-line portals? How are risks of fraud and mistake allocated there? Do on-line portals help get the rest of us in on unicorns in utero? How are equity securities purchased by the crowd turned into money? Is there a secondary market for private securities? Should ICOs be understood as crowdfinance by other means?
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/crowdfinance-101-2021/
This document discusses techniques for structuring securitization deals to breach the sovereign ceiling. It begins by explaining the rating approach and theory of the sovereign ceiling. Traditional rating approaches viewed the sovereign rating as a cap on private issuer ratings from that country. However, some techniques allow deals to achieve ratings above the sovereign rating. The document then details various structuring techniques used to bypass exchange controls and country risks, including future flows, supply bonds, currency swaps, and guarantees. It also discusses techniques to outlast exchange control periods or provide exemption from controls. Securitization deals in dollarised economies with structural currency links can also potentially achieve above sovereign ratings. Overall, the document examines how investment bankers design securitization deals using various legal and financial
1) Securitization originated from factoring agreements in the 1970s and expanded to include a wide array of assets. It provided advantages like liquidity, cheaper corporate financing, and accounting benefits.
2) However, securitization also led to risks like moving liabilities off balance sheets, reduced monitoring of asset quality, and opaque ratings. Over-reliance on securitized products contributed to the global financial crisis.
3) New structured products like CDOs and CDS further increased complexity, reduced monitoring incentives, and added systemic risks. The proliferation of unregulated financial innovation outpaced the ability of regulators to understand the risks.
Key Provisions in M&A Agreements (Series: M&A Boot Camp)Financial Poise
Although every deal is different, understanding any purchase/sale agreement will help you understand other purchase sale agreements. Stated another way, most M&A documents include a similar set of sections and use a similar vocabulary. This episode explains specific, common provisions and discusses how buyers and sellers approach these provisions differently, particularly in light of situational differences (e.g. whether the assets being bought and sold are equity of a company or the assets of a company; whether the seller is going to cease to exists or not). Topics covered will include tax issues; corporate governance; closing conditions; representations and warranties; indemnification provisions; earn-outs; restrictive covenants; antitrust; intellectual property; and employment issues.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/key-provisions-in-ma-agreements-2021/
IWOGC - Material Nonpublic Information -- 09-21-10InsuranceIR LLC
Presentation prepared for the Insurance Women of Greater Cincinnati (http://www.iwogc.org). IWOGC is a chapter of the NAIW (http://www.naiw.org).
I was pleased to have the opportunity to speak with this group to help educate on an important topic related to investor relations.
TROs and Preliminary Injunctions (Series: Newbie Litigator School 101 - Part 1)Financial Poise
Sometimes—often at the beginning of a case—you need the court to take immediate action to protect your client’s interests or to maintain the status quo while the litigation progresses. This webinar discusses procedures and strategies for obtaining temporary restraining orders and preliminary injunctions. The topics discussed include the procedural and substantive requirements for obtaining TROs and preliminary injunctions, some best practices for how to succeed on motions seeking TROs and preliminary injunctions, and how to challenge and defeat those motions.
To view the accompanying webinar, go to: https://www.financialpoise.com/financial-poise-webinars/tros-and-preliminary-injunctions-2021/
Partner Julie Murphy-O'Connor, Partner Brendan Colgan and Senior Associate Gearóid Carey of the Corporate Restructuring and Insolvency Group co-author an article for Lexology Navigator - Restructuring and Insolvency in Ireland.
Dodd-Frank Compliance and Technology Summer Meeting 2013Jeffrey C.Y. Li
The document discusses Dodd-Frank compliance requirements and challenges for financial institutions. It outlines four levels of compliance that a company called CPS II can provide, including archiving communications, capturing trade data, securely storing records, and reporting to agencies. It also discusses the compliance discovery, planning, and processing services CPS II offers. The document emphasizes that Dodd-Frank compliance requires appropriate technology, and penalties for non-compliance are severe. It advises financial institutions to learn requirements, identify deadlines, budget for solutions, and prepare to work with technology providers.
This document provides an overview of establishing and growing a mortgage broking business. It outlines the key steps to becoming a mortgage broker including choosing a business structure, obtaining the necessary qualifications and licenses, joining a mortgage aggregator, and becoming accredited with lenders. It then discusses evolving the business from focusing on residential lending to also offering commercial/business lending and complete financial solutions. It emphasizes building a sustainable foundation, focusing on clients over profits, and eventually scaling the business through collaboration or hiring others to handle increased workload.
Financial intermediation is the process where financial intermediaries accept funds from savers and lend those funds to borrowers. This allows for maturity and liquidity transformation between net savers and net borrowers. Financial intermediaries are important as they are major providers of funds to borrowers compared to financial markets. Regulations aim to address moral hazard and curb excessive risk taking by intermediaries given the risks involved in financial services.
A landmark case on the situation of minors in contracts other than necessity, scholarship or insurance. Minor are those below 18 years of age and normally are incompetent to enter into any contracts.
- 1992: UN Framework Convention on Climate Change recognizes human-induced climate change and aims to stabilize greenhouse gas concentrations to prevent dangerous interference with the climate. It places most responsibility on industrialized nations.
- 1997: The Kyoto Protocol is adopted, requiring developed countries to reduce greenhouse gas emissions by 5% below 1990 levels by 2012, with binding targets. It establishes carbon trading mechanisms.
- 2012: The Doha Amendment extends the Kyoto Protocol commitments through 2020, with some countries withdrawing. It establishes less stringent emissions targets. Overall, the Kyoto Protocol represents the first binding international agreement on reducing emissions.
Mediation of international dispute The Islamic perspectiveNasir Ahmad Yousefi
The dispute is a common social process with the multi-dimensional features. This phenomenon exists in all social systems, regardless of their location and time. As humans are social beings, disputes among them are inevitable. From time to time differences arise on various questions between the people living together. There are many ways to resolve disputes on the international stage in the framework of general international law, but whatever makes a valuation on a method compared with other methods is compatibility between the different characteristics created by the method of dispute resolution. Settlement of disputes has been addressed in Islamic culture. Peace and reconciliation in Islamic learning was emphasized by many religious scholars. Nevertheless Islamic law provides for settlement of disputes by many ways of Sulh including mediation. The purpose of this paper is to examine the principles on mediation laid down in the Quran and the Sunnah of Prophet Muhammad (peace be upon him), which are both the primary sources of Islamic law. The paper will seek to apply the deduced principles in contemporary mediation. This article also going to expresses that the Islamic methods can also be applicable in the peaceful resolution of international disputes.
This document summarizes the 1953 case Pharmaceutical Society of Great Britain v Boots. In the case, Boots Cash Chemists allowed customers to select items themselves from shelves and then bring them to a pharmacist at the register. The Pharmaceutical Society argued this violated a law requiring pharmacist supervision of prescribed drug sales. However, the court ruled that displaying items was merely an invitation to treat, and the sale only occurred when the pharmacist accepted payment from the customer at the register.
This document discusses alternative dispute resolution (ADR) methods. It outlines five main types of ADR: negotiation, mediation, conciliation, arbitration, and collaborative law. Negotiation involves parties discussing to find an agreed solution without being binding. Mediation uses an impartial third party to direct discussion but not suggest outcomes. Conciliation is like mediation but the third party can make suggestions. Arbitration uses a third party to impose a binding decision. Collaborative law involves lawyers collaborating to settle without litigation. Advantages of ADR include being less formal, cheaper and faster than courts. Disadvantages are some disputes not being suitable and decisions not always legally binding.
International Contracts And Dispute Resolutionddubberly
The document provides an overview of various types of international commercial contracts and considerations for dispute resolution. It discusses options for export contracts including time/risk, joint ventures, licensing, and more. It also addresses limiting liability, protecting intellectual property, dealing with local laws, problems with litigation versus arbitration, crafting arbitration clauses, and the ICC arbitration process and fees.
This document provides an overview of the Malaysian legal system, including the main sources of Malaysian law. It discusses written law such as the Federal Constitution, legislation, and subsidiary legislation. It also examines unwritten law including English common law, judicial decisions and customs. It describes the key principles of precedent and statutory interpretation used in Malaysian courts. It provides details on the structure of the Malaysian judicial system and the roles of the Federal Court, High Court, and subordinate courts. It also discusses the application of Islamic law in Malaysia.
A minor had taken out a loan of 20,000 rupees at 12% interest from Dharmodas Ghose and secured it with a mortgage. The minor's mother later claimed the mortgage was void due to the minor's lack of capacity to enter into a contract. The court held that the contract made by the minor was void as minors do not have the capacity to enter contracts under Indian law. As the minor was not bound by the contractual promises made, they could not be compelled to repay the loan amount. The defense of estoppel also did not apply to validate the contract as the law's purpose is to protect minors.
The document discusses eating disorders such as anorexia nervosa and bulimia nervosa. It provides information on the diagnostic criteria, prevalence, physical effects, course, and prognosis of these disorders. Specifically, it notes that while anorexia nervosa causes significant weight loss, individuals with bulimia nervosa do not lose weight in the same way due to binge eating and compensatory behaviors like purging. The etiology of eating disorders involves genetic, sociocultural, and psychological factors.
This document presents information on mergers and acquisitions (M&A) through a slideshow presentation. It discusses the history of M&A in India, defines mergers and acquisitions, compares the differences between them, and outlines the objectives, benefits, types, examples, process, strategies, and problems associated with M&A. It also provides details on the recent merger between Tech Mahindra and Satyam, including analysis and outlook. In conclusion, it states that the success of an M&A depends on the planning and strategies of the acquiring company.
A merger occurs when one company purchases another company of a similar size, transferring ownership and control to form a single new company. Companies usually merge when they feel they can accomplish more together than separately. There are three main types of mergers: horizontal, vertical, and conglomerate. Mergers can take place through purchasing assets, purchasing common shares, exchanging shares for assets, or exchanging shares for shares. Reasons for mergers include increasing market share, achieving economies of scale, diversifying risk, and pursuing future goals or expansion of business.
Mergers and acquisitions involve the combination of two or more companies. Mergers see the merging companies fully integrate to form an entirely new company, while acquisitions see one company purchase another but maintain separate operations. Mergers and acquisitions allow companies to achieve synergies, diversify, grow, and eliminate competition. Common types of mergers include horizontal, vertical, market extension, product extension, and conglomerate mergers. India has seen several large M&A deals over the years across various industries.
This document contains summaries of three contract law cases:
1) Balfour v Balfour established that a promise between spouses is generally not legally enforceable unless there was clear intent to create a legal agreement.
2) Merritt v Merritt was an exception where the spouses had separated and signed an agreement, indicating their intent to be legally bound.
3) Simpkins v Pays found that an agreement to share prize winnings was enforceable as both parties had contributed and intended the agreement to be legally binding.
The document discusses mergers and acquisitions, providing definitions and examples. It describes the typical stages in an M&A deal including preliminary assessment, proposal, exit planning, and integration. Key factors driving M&A activity in India are also summarized such as increasing competition and globalization.
International mergers and acquisitionsKanku Baruah
The document discusses mergers and acquisitions (M&A) from several perspectives. It describes M&A as a strategy for companies to achieve growth through purchasing other companies. Different types of mergers are outlined based on the nature of the merging companies, including horizontal, vertical, conglomerate, product-extension, and market-extension mergers. The acquisition process and types of takeovers (hostile vs friendly) are also summarized. Specific examples provided include the ArcelorMittal merger forming the world's largest steel producer, and Procter & Gamble's acquisition of Gillette to become the largest consumer goods company.
Mergers and acquisitions refer to the corporate strategy of buying, selling, and combining companies. There are several types of M&A transactions. A merger occurs when two companies combine to form a single new company, while an acquisition happens when one company purchases another. Mergers and acquisitions can be financed through cash payments, borrowing, issuing bonds, or offering stock in the acquiring company. Accurate business valuations are important for determining the purchase price in an M&A deal.
Mergers and acquisitions (M&A) refer to the aspect of corporate strategy dealing with buying, selling, and combining companies. There are several types of M&A transactions, including mergers, acquisitions, and asset purchases. Motives for M&A include achieving economies of scale, increasing market share, cross-selling opportunities, and tax advantages. However, M&A also carry risks such as overpayment, cultural clashes, and failure to achieve expected synergies.
The document provides an overview of mergers and acquisitions. It defines mergers and acquisitions, outlines the key differences between them, and describes the typical procedures involved. Some of the main advantages and motives for mergers and acquisitions discussed are achieving economies of scale, increasing market share and revenue, enabling cross-selling opportunities between companies, realizing synergies from specialization, and seeking tax benefits. The document also provides examples of major mergers and acquisitions deals.
Legal & Compliance, LLC- Whitepaper- Mergers And Acquisitions; Types of Trans...Laura Anthony, Esq.
Mergers And Acquisitions; Types of Transactions- As
merger and acquisition(M&A) transactions completed its most active year since the financial crisis, it is helpful to go back to basics. Activity has been prevalent in all market sectors, including large, mid and small cap and across all industries, including biotech, financial services, technology, consumer goods and services, food and beverage and healthcare, among others...
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Term Sheets – Legal Issues By Ms. Neela Badami of Samvaad VenturesKesava Reddy
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Debentures are debt instruments issued by a company to investors that acknowledge the company's indebtedness. They are similar to bonds but provide more flexibility in terms. Debentures can be secured or unsecured, registered or bearer, redeemable or perpetual. Key differences from shares include debenture holders being creditors rather than owners, having no voting rights, and interest being payable regardless of company profits. Debentures are issued according to a company's articles of association and prospectus requirements apply. They are transferred similarly to shares but bearer debentures transfer via delivery.
Fairness Considerations in Going Private TransactionsMercer Capital
A presentation by Jeff K. Davis, CFA, that provides an overview of issues surrounding a decision to take an SEC-registrant private.
Pros and Cons of Going Private
Structuring a Transaction
Valuation Analysis
Fairness Considerations
Going private and fairness considerations jeff k. davisMercer Capital
This short presentation is intended to provide an overview of some issues surrounding a decision to take an SEC-registrant private. This presentation does not cover all issues with going private transactions; nor should it be construed to convey legal, accounting or tax-related advice. Companies considering such a move should hire appropriate legal and financial advisors.
Fairness Considerations in Going Private TransactionsJeff Davis
While there once may have been a good reason to be a public company (or not), that may no longer be the case: hence, consideration of a go-private transaction may be warranted. This short presentation is intended to provide an overview of some issues surrounding a decision to take an SEC-registrant private. This presentation does not cover all issues with going private transactions; nor should it be construed to convey legal, accounting or tax-related advice. Companies considering such a move should hire appropriate legal and financial advisors.
Mergers and acquisitions of companies are becoming the most strategic choice for organizational growth which includes empire-building, market dominance, and long-term survival.
In general, a merger is the combination of two companies to form one new company by transferring ownership. Whereas, in acquisitions, one company takes over another company and establishes itself as a new owner of the said company.
A merger and acquisition deal structure is a binding agreement between parties thereto, that outlines the rights and obligations of both parties, it states what each party of the merger or acquisition is entitled to and what each is obliged to do under the agreement.
The deal structuring is a part of the merger and acquisition process, as it is the step to prioritize the objectives of a merger or acquisition of all parties
Corporate restructuring study material-final (2)Haridas Karath
This document provides an overview of various types of corporate restructuring transactions under Indian law. It begins by discussing mergers and amalgamations, noting the technical differences between the two but their common use. It then covers the different types of mergers (horizontal, vertical, congeneric, and conglomerate), as well as cash mergers and triangular mergers. Next, it discusses acquisitions, including friendly takeovers, hostile takeovers, and leveraged buyouts. It also mentions bailout takeovers. Finally, it briefly outlines strategic alliances, joint ventures, and demergers as other forms of corporate restructuring.
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A term sheet is a non-binding document that outlines the basic terms of a proposed investment in a company, including valuation, investment amount, equity stakes, voting rights, liquidation preferences, and other key protections for investors. It serves to establish agreement on important deal points before incurring the costs of drafting binding legal documents, and helps prevent misunderstandings between the investing and founding parties. Key clauses in a term sheet address issues like anti-dilution protection, liquidation preferences, option pools, affirmative consent rights, and exit rights for investors.
This document discusses asset protection planning strategies for an individual professional athlete named X who is involved in an altercation that results in someone's nose being broken. It notes that X currently holds all assets in cash at a single institution, making them easily discoverable and attachable. The document then recommends strategies like forming a family limited partnership to own assets, purchasing insurance, and diversifying financial institutions. It discusses the importance of planning before incidents occur and notes offshore planning is not usually best due to the ability to hold individuals in contempt. Limited partnerships are highlighted as generally the best option due to charging order protections.
Role of due diligence in mergers and acquisitionChenoy Ceil
Due diligence is the process of evaluating a potential merger or acquisition by investigating financial, legal and other material information. It helps identify risks and structure the transaction. Key aspects of due diligence include analyzing company documents, reports, contracts and intellectual property. Conducting due diligence helps validate the business plan and mitigate risks to make the transaction successful. It is an ongoing process that continues throughout the alliance between the merging companies.
This document discusses the risks and benefits of incorporating an organization versus keeping it unincorporated. It notes that risk of personal liability is one of the main reasons an unincorporated organization may seek incorporation. Some situations that carry particular risk of liability include large contracts, loans that may need to be repaid, employing others, and leasing or buying property. However, it also lists other factors to consider in determining the best legal structure, such as regulations, the organization's stage of development, and tax advantages. The document then briefly defines limited liability as meaning the liability is generally that of the organization itself rather than the individuals involved.
Acquisition_ An Opportunity to Acquire Budding Businesses in India 1.pdfmyLawyerAdvise
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International Business Law - Shares and Undertaking
1. AQUISTION OF SHARES AND
UNDERTAKING
PREPARED BY
MOHD AFIZAN
SYAFIQ AIMAN
MOHD IKRAM
2. Acquisition or takeover is the purchase of one
business or company by another company or
other business entity.
WHAT IS AQUISTION OF SHARES
3. Consolidation
• Occurs when two company combine companies
remains independently.
ACQUISITION SHARES
4. Divided into “Private” and “Public” acquisitions.
Acquire or merging company (also termed a target) is
not listed on a public stock market.
An additional, dimension or categorization consist of
whether an acquisition or hostile.
ACQUISITION SHARES
5. Achieving acquisition success has proven to be very
difficult, while various studies have shown that 50% of
acquisitions were unsuccessful.
ACQUISITION SHARES
6. purchase is perceived as being a "friendly" one or a
"hostile" depends significantly on how the proposed
acquisition is communicated to and perceived by the
target company's board of directors, employees and
shareholders.
Its called "confidentiality bubble"
ACQUISITION SHARES
7. "Acquisition" usually refers to a purchase of a smaller
firm by a larger one.
Sometimes a smaller firm will acquire management
control of a larger firm ( reverse takeover).
ACQUISITION SHARES
8. LETTER OF INTENT
(LOI or LoI, and sometimes capitalized as Letter of
Intent in legal writing, but only when referring to a
specific document under discussion) is a document
outlining an agreement between two or more parties
before the agreement is finalized.
ACQUISITION PROCESS
9. The letter of intent generally does not bind the parties to
commit to a transaction, but may bind the parties to
confidentiality.
exclusivity obligations so that the transaction can be
considered through a due diligence process involving
lawyers, accountants, tax advisors, and other
professionals, as well as business people from both sides
ACQUISITION PROCESS
11. Five key types
1. Conditions
2. Representations and warranties
3. Covenants
4. Termination rights (breakup fees)
5. Provisions relating to obtaining required shareholder approvals
under state law and related SEC filings required under federal
law
ACQUISITION PROCESS
12. Written promise offered as security for the
performance of a particular act required in a
legal action.
UNDERTAKING