Publication
Summary of Key Steps for a Reduction of Share Capital for a Hong Kong Company
In uncertain economic times like these, we often see companies undergoing restructuring or being put under pressure to return capital to shareholders.
Judicial approval of disclosure - only class action settlements
Author:
Global | Publication | April 20, 2018
New York CPLR Rule 908 requires court approval for class action settlements: “A class action shall not be dismissed, discontinued, or compromised without the approval of the court.” The role of the court is to judge independently whether the settlement is fair, reasonable and in the best interest of the class members.
During the 1980s and 1990s, New York courts routinely approved non-monetary class action settlements. More recently, concerns have arisen that courts serve as no more than a “rubber stamp” for collusive settlements of meritless class actions where the real benefit is the payment of attorney fees to class counsel, prompting reconsideration of the judiciary’s role in approving such settlements.
Recent publications
Publication
Beneficial ownership registers: Regulation Around the World
In this edition of Regulation Around the World we review the position regarding beneficial ownership registers which has come into the spotlight following work by the Financial Action Task Force and the introduction of reforms in a number of jurisdictions.
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