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Hogan Lovells

The Emperor has no clothes: Privy Council strips down the Shareholder Rule and Hong Kong watches

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The Shareholder Rule is a legal doctrine under which a company is generally precluded from asserting legal professional privilege to withhold documents from a shareholder in the course of litigation involving both the company...more

Dickinson Wright

Tax Planning Misstep? Ontario Court of Appeal Says No to Rectification

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A recent decision from the Ontario Court of Appeal is a good reminder that courts won’t bail you out just because a tax plan didn’t go as expected. In Pyxis Real Estate Equities Inc. v. Canada, 2025 ONCA 65, the Court made it...more

Patton Sullivan Brodehl LLP

Another LLC Attorney Disqualified Due to “Conflict of Authority”

A prior LLC Jungle post covered the Court of Appeal’s seminal opinion in the Jarvis v. Jarvis case here: Why Having “Co-Managers” for Your LLC is a Terrible Idea. In the Jarvis case, the Court of Appeal affirmed the...more

Patton Sullivan Brodehl LLP

What if an LLC’s Books and Records Contain Trade Secrets?

One of the most important rights owned by LLC members is the right to inspect the LLC’s books and records. For an overview of LLC books and records requests, see the prior LLC Jungle post: Why LLC Managers Should Take Member...more

Conyers

BVI Court of Appeal Upholds Directors' Right to Inspect Company Documents, Including Litigation Funding Details

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In a recent decision, the Eastern Caribbean Supreme Courts’ Court of Appeal reaffirmed the statutory rights of directors under the BVI Business Companies Act, 2004 (the “BCA”) to inspect company documents, including...more

Husch Blackwell LLP

Importers Seek Review by Supreme Court of Challenge to IEEPA Tariffs

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On June 17, 2025, the two importers who filed a lawsuit in U.S. District Court challenging President Trump’s authority to issue tariffs under the International Emergency Economic Powers Act (“IEEPA”) petitioned the Supreme...more

Mayer Brown

Déductibilité des honoraires entre sociétés liées et acte anormal de gestion

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La Cour administrative d’appel de Nancy se prononce sur la déductibilité de la rémunération de services versée à des sociétés liées (CAA Nancy, 15 mai 2025, n° 23NC00076)....more

Mayer Brown

Qualification de titres acquis lors d’une augmentation de capital suivie d’une cession

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La Cour administrative d’appel de Nancy confirme que la moins-value constatée lors de la cession de titres souscrits dans le cadre d’une recapitalisation préalable à la cession d’une filiale reste non déductible, ces titres...more

Blake, Cassels & Graydon LLP

SCC Finds Quebec Law Inapplicable to Federal Undertakings Under Interjurisdictional Immunity Doctrine

In Opsis Airport Services Inc. v. Quebec (Attorney General) (Opsis), the Supreme Court of Canada (SCC) affirmed that the doctrine of interjurisdictional immunity (IJI) remains an essential feature of Canada’s federal...more

Allen Matkins

Is An LLC's Membership List A Trade Secret?

Allen Matkins on

Yesterday's post considered one of several matters raised on appeal in Perry v. Stuart, 2025 WL 1501935.   The case involves a former member's demand for inspection of records of a California limited liability company. ...more

Mayer Brown

Déductibilité fiscale de services d’asset management rendus entre sociétés liées

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La Cour administrative d’appel de Paris confirme que la déductibilité fiscale de charges facturées au titre d’un contrat d’asset management entre sociétés liées suppose la démonstration concrète de prestations réellement...more

Mayer Brown

Réduction de capital et moins-value sur titres

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La Cour administrative d’appel de Versailles rappelle que la seule réduction de capital d’une filiale ne permet pas de caractériser une perte certaine et définitive sur titres, condition pourtant indispensable à la déduction...more

Morris James LLP

Delaware Supreme Court Clarifies Enforcement of Forfeiture-for-Competition Provisions

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LKQ Corp. v. Rutledge, C.A. No. 110, 2024 (Del. Dec. 18, 2024) - In this en banc decision, the Delaware Supreme Court answered a certified question from the United States Court of Appeals for the Seventh Circuit...more

Morgan Lewis

Federal Fiscal Court Issues Two Rulings on the Requirements for a Consolidated Tax Group for Income Tax Purposes - Legal Insights...

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In two rulings, the Federal Fiscal Court (BFH) ruled in favor of the taxpayer on the requirements for a consolidated tax group for income tax purposes. Managing holding partnership as controlling company (judgment of November...more

Latham & Watkins LLP

All’s Well That Ends Well for Keepwell Providers?

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No loss to issuers puts note trustees in the spotlight. The Hong Kong Court of Final Appeal (CFA) has overturned the Court of Appeal’s order that Peking University Founder Group Company Limited (PUFG), as the keepwell...more

Rivkin Radler LLP

State Taxation of a Nonresident’s Gain from the Sale of Stock –The Shot Heard Round the Country?

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Last month, Bloomberg carried an article about a “small but growing trend” of states that are either cutting their individual income taxes or phasing them out entirely. According to the article, the states adopting these...more

Morris James LLP

Court of Chancery Holds Supermajority Vote Not Required for Nevada Reincorporation

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Gunderson v. The Trade Desk Inc., C.A. No. 2024-1029-PAF (Del. Ch. Nov. 6, 2024) - The board of a Delaware corporation recommended that the corporation reincorporate as a Nevada corporation subject to a majority vote...more

Conyers

Sunrise Radio Considered – Is a Debt-for-equity Swap Carried Out at an Undervalue Unfairly Prejudicial?

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On 27 March 2025, the Eastern Caribbean Supreme Court, sitting in the Territory of the Virgin Islands, handed down its decision in BVIHCMAP2024/0002 Amstel Investment Holdings Limited and others v AMS Holdings Limited and...more

Blank Rome LLP

Massachusetts Court Subjects Nonresident to Income Tax on Gain from Stock Sale

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In a decision with troubling potential implications, a Massachusetts appellate court held that a nonresident individual was subject to Commonwealth income tax on capital gain from the sale of his stock in the corporation that...more

Blank Rome LLP

Gains on Sales of Franchises Held Nonbusiness Income in Arkansas

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Consistent with the decisions in several other states interpreting the Uniform Division of Income for Tax Purposes Act’s (“UDIPTA”) definition of nonbusiness income, an Arkansas Circuit Court concluded that gains from the...more

Maynard Nexsen

Alabama Supreme Court Update: Decisions from April 11, 2025

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The Alabama Supreme Court issued its weekly release list on Friday, April 11. The opinions of interest to the Alabama business community include the following...more

Jackson Walker

Texas Supreme Court Clarifies Fiduciary Duties Between Business Partners

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The Texas Supreme Court has provided clarity on the fiduciary duties between business partners, particularly in the context of limited partnerships. The case, Bertucci v. Watkins, involved a dispute between two business...more

Mayer Brown

L'erreur comptable délibérée et l'inscription en comptabilité de titres de participation

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Dans une décision du 12 mars 2025, le Conseil d'Etat confirme que si l'inscription initiale de titres en titres de participation constitue une erreur délibérée, la société ne peut bénéficier des effets d'une rectification de...more

Sunstein LLP

Supreme Court vacates $43 million trademark award for violating principle of corporate separateness in Dewberry Group

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On February 26, 2025, in Dewberry Group v. Dewberry Engineers, the Supreme Court unanimously vacated a $43 million damages award for trademark infringement, ruling that the lower court improperly conflated the defendant with...more

Orrick, Herrington & Sutcliffe LLP

Student lender petitions U.S. Supreme Court to review 10th Circuit’s “arm of the state” ruling

Recently, a petition for a writ of certiorari was presented to the U.S. Supreme Court by a Missouri-based student lender seeking review of a decision by the U.S. Court of Appeals for the Tenth Circuit that it does not qualify...more

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