Archives: International D & O

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Guest Post: Cybersecurity and D&O Liability: Emerging Concerns under Indian Law

One of the most closely watched issues in the world of D&O is the extent to which cybersecurity-related issues will lead to liability for corporate directors and officers. In the following guest post, Tarun Krishnakumar, a New Delhi attorney qualified in India and California specializing on issues relating to emerging technology , takes a look at … Continue Reading

Guest Post: How “Pure Entity” Australian Class Actions have Distorted the D&O Market

Regular readers of this blog know that class action litigation is an important part of the Australian liability environment. Although comparisons between the Australian class action system and the U.S. system are frequent, there are important differences in class action litigation in the two legal systems, particularly with respect to securities class action litigation. In … Continue Reading

QBE Insurance Settles Australian Securities Class Action Lawsuit      

In the third-largest securities class action settlement ever in Australia, QBE Insurance has agreed to settle the securities suit pending in the Federal Court of Australia and filed against the company on behalf of QBE investors related to the sharp share price decline the company experienced in December 2013. The amount of the settlement is … Continue Reading

Brazilian Corruption Scandal Leads to Liability Exposures in Other Latin American Countries

The massive Petrobras bribery scandal has long since spread beyond just the Brazilian petroleum company itself to encompass a number of different other companies. As I have previously noted on this blog, many of the Brazilian companies caught up in these investigations have been hit with securities class action lawsuits in the U.S. Among the … Continue Reading

Guest Post: D&O Insurance Implications as Deferred Prosecution Agreements Take Off in the U.K.

On January 17, 2017, the U.K.’s Serious Fraud Office announced that it had entered into a significant Deferred Prosecution Agreement (DPA) with Rolls-Royce PLC following its approval by Sir Brian Leveson. The agreement followed an extensive investigation of alleged bribery involving the company’s operations in a number of different countries. The full text of the … Continue Reading

Guest Post: India: Compounding of Offences under Companies Act 2013 – D&O Insurance

In the Companies Act 2013, India’s parliament incorporated a provision allowing for the “compounding” of offenses. “Compounding” is a way for an accused violator to avoid litigation. It is a settlement process by which the accused pays a fee instead of undergoing prosecution. In the following guest post, Umesh Pratapa takes a look at the … Continue Reading

Guest Post: A Focus on Directors’ and Officers’ Risks in India

  As readers of this blog know well, liability claims against corporate directors and officers is an increasingly global phenomenon. A number of different factors are contributing to the globalization of D&O liability, including legislative changes, changes in regulatory enforcement activity, and the rise of litigation financing. In the following guest post, Richa Shukla of … Continue Reading

RBS Reaches $1 Billion Partial Settlement of Credit Crisis-Related Collective Investor Action

In the latest signal of the increasing significance of collective investor actions outside of the U.S., on December 5, 2016, Royal Bank of Scotland agreed to pay £800 million ($1 billion) in a settlement with three of the five investor claimant groups that had sued the bank in the U.K. for alleged misrepresentations in connection … Continue Reading

Guest Post: Dutch Collective Actions vs. Collective Settlements

As collective investor actions have become an increasingly global phenomenon, a recurring question has been whether another jurisdiction will emerge as the preferred forum for aggrieved investors to pursue their claims. Among the countries often mentioned in this context it the Netherlands, owing to the country’s collective settlement procedures. In a recent post, I noted … Continue Reading

Investors File U.K. Financial Misrepresentation Claim Against Tesco

A group of 124 institutional investors have joined a claim filed in London’s high court on October 31, 2016 against Tesco seeking damages for the company’s alleged financial misrepresentations. The claim, which seeks over £100 million in alleged damages, was filed on the investors’ behalf by the Stewarts law firm, and is supported by Bentham … Continue Reading

Guest Post: U.S. Parent Company Enters U.K.-Style Deferred Prosecution Agreement for Bribery

Deferred prosecution agreements have long been a part of the U.S. criminal enforcement environment, but they are relatively new in the United Kingdom. In addition, as the U.K. has begun to adopt the use of deferred prosecution agreements, it has adopted the agreements to its own system and legal requirements. In the following guest post, … Continue Reading

Guest Post: “New India”

No doubt like a number of you, I read Kevin’s blog on his recent travels to India with interest. As a first generation British Indian I was as unfamiliar with India as Kevin was, until the age of 13 when I first visited India with my parents, and I too was overwhelmed with the poverty, the amount … Continue Reading

Dutch Court Dismisses Collective Investor Action Against BP on Jurisdictional Grounds

As the rise of collective investor actions has gone global, one of the questions that has arisen is whether a country other than the U.S. would become a preferred forum in which investors might pursue their claims, even investors from outside the forum country. Australia is among the countries that have been suggested. Another country … Continue Reading

D&O Liability: More Litigation Globally against a Broader Range of Defendants

In conjunction with my July 2016 visit to Munich for meetings at Munich Re, I sat down for an interview with Christian Furhmann, Chief Executive Manager at Munich Reinsurance Company. The interview, which Munich Re previously published here, is reprinted below. I would like to thank my friends at Munich Re for their permission to … Continue Reading

Guest Post: Company Directors Who Cannot Read or Understand English Warned by Australian Court

In our increasingly global economy, corporate boards are increasingly diverse, and among the diversities boards increasingly encompass are geographic and cultural diversity. However, while diverse directors may serve for many reasons, they still must be able to discharge their duties to the corporation. In the following guest post, Christopher Smith of the Sydney office of … Continue Reading
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