Brazilian Prosecutors File Lawsuit Seeking $10.7 Billion From Chevron, Transocean

Federal prosecutors in Brazil filed a lawsuit seeking 20 billion reais ($10.7 billion) in reparations from Chevron and Transocean Ltd. in connection with the November leakage of 3,000 barrels of oil at the site of an offshore well…

European Commission Publishes Plan For Boosting Green Innovation, Job Creation

Green innovation in the EU should be boosted by a combination of environmental regulation, standard setting, research, and demonstration projects, the European Commission said in an action plan published Dec. 15…

New WTO Procurement Agreement Reached; Expanded Access Valued at $80-100 Billion

Negotiators representing more than 40 countries reached an agreement on a new international accord expanding opportunities for foreign goods, services, and construction firms to bid on government procurement contracts among participating nations…

WTO Members Formally Approve Russia’s Terms For Membership

Members of the World Trade Organization formally approved Russia’s terms for membership in the WTO, bringing down the curtain on marathon negotiations that were initiated back in June 1993…

ANALYSIS: U.S. SEC Further Limits Confidential Submissions By Foreign Private Issuers

On December 8, 2011, the staff of the Division of Corporation Finance of the U.S. SEC announced a new policy that limits the ability of foreign private issuers to submit registration statements (and amendments) to the SEC on a confidential basis…

ANALYSIS: Reform of the EU Data Protection Directive: ‘Right to Be Forgotten’—What Should Be Forgotten and How?

The EC is currently working on an overhaul of EU Data Protection Directive 95/46/EC that will bring it in line with new technologies and the emergence of social networks…

ANALYSIS: The European Court Of Justice’s Recent Judgment On The Direct Applicability Of The Data Protection Directive And Its Impact On German Privacy Law

This article summarises the Judgment of the Court of Justice of the European Union of November 24, 2011 (in joined cases C-468/10 and C-469/10) and analyses potential consequences for the application of German privacy laws…

New United Arab Emirates Law Governing Companies May Lead to Greater Foreign Ownership

The UAEs’ Cabinet Dec. 4 approved the first major reforms of corporate rules in 27 years, including possible foreign ownership provisions, as the Gulf state seeks to attract more outside investment to help diversify its economy…

India Yields to Protests, Suspends Move To Permit 51% Foreign Stake in Multi-Brand Retail

The Indian government has suspended its Nov. 24 decision to allow 51 percent direct foreign investment in multi-brand retail—a measure that was meant to showcase the government’s determination to push through reforms but has now achieved the opposite effect…

Canada to Withdraw From Kyoto Protocol, Commits to Copenhagen Accord, U.N. Talks

Canada plans to withdraw from the Kyoto Protocol because it thinks the treaty does not provide a realistic framework to address climate change…

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