Client Alert - Gibson Dunn

Client Alert

Labor Department Issues Final Qualified Default Investment Alternative Regulations

On October 23, the Labor Department issued final regulations setting forth the standards applicable to qualified default investment alternatives ("QDIAs").

October 24, 2007

IRS Extends Most Section 409A Transition Relief to December 31, 2008

On October 22, the IRS issued Notice 2007-86, which extends to December 31, 2008 most of the transition relief under Section 409A of the Internal Revenue Code.

October 23, 2007

IRS Releases Updated Qualified Plan Limitations for 2008

On October 18, the IRS released the inflation-adjusted limitations applicable to tax-qualified retirement plans for 2008.  The increases are pursuant to inflation adjustment factors included in the applicable sections of the Internal Revenue Code.  The limits are adjusted only in specified increments and, as a result, some of the key limits are unchanged from 2007.The key 2008 limits are as follows:   Limitation 2008 Limit 2007 Limit 402(g) Limit on Employee Elective Deferrals (Note:  This is relevant for "401(k)," "403(b)" and "457" plans.)$15,500 (unchanged)$15,500414(v) Limit on "Catch-Up Contributions" for Employees Age 50 and Older (Note:  This is relevant for "401(k)," "403(b)" and "457" pl

October 19, 2007

UK House of Lords Proclaims Fresh Start to the Interpretation of English Law-Governed Arbitration Agreements

The House of Lords, England's highest court, has placed English law firmly on the side of liberal, pro-arbitration construction of arbitration provisions, ending years of technical debate distinguishing English law from that of many commercial centers around the world.

October 19, 2007

From Pharmaceutical To Groundwater Contaminant: Perchlorate Gets A Raw Deal

Jeffrey D. Dintzer and Brett H. Oberst are the authors of "From Pharmaceutical To Groundwater Contaminant: Perchlorate Gets A Raw Deal" [PDF] published in Mealey's Emerging Toxic Torts, October 19, 2007.

October 19, 2007

The Sarbanes-Oxley Act and Foreign Private Issuers

New York Partner Kevin Kelley is the author of "The Sarbanes-Oxley Act and Foreign Private Issuers," [PDF] Chapter 7 of City & Financial's  U.S.

October 17, 2007

UK Employment and Labour Law — Quarterly Executive Summary (October 2007)

Welcome to the third Quarterly Executive Summary of 2007, in which we highlight key developments in UK Employment and Labour Law over the past three months. A headline summary of cases and developments is provided below.

October 17, 2007

Changes to English Company Law

Companies law in England and Wales is undergoing reform and modernisation by way of the phased implementation of the new Companies Act 2006. Various parts of the 2006 Act became effective on 1 October 2007.  This alert summarises the main changes in force from that date, drawing on separate alerts on individual topics.

October 16, 2007

New Legislation Increases Penalties under the International Emergency Economic Powers Act

The President signed legislation into law today that will dramatically increase the maximum civil penalties under the International Emergency Economic Powers Act ("IEEPA") from $50,000 to $250,000 per violation, or twice the amount of the transaction, whichever is greater.

October 16, 2007

Securities Litigation and Enforcement Institute 2007 – Current Trends in Federal Securities Litigation

Jonathan C. Dickey is the author of "Current Trends in Federal Securities Litigation" [PDF] prepared for the Practising Law Institute Securities Litigation and Enforcement Institute 2007, October 15, 2007.

October 15, 2007

LBO – Le Leveraged Buy Out, une pratique en constante évolution

Paris Partner Sophie Resplandy-Bernard is the author of "LBO - Le Leveraged Buy Out, une pratique en constante évolution" [PDF--the article is in French, the title roughly translates as: "Leveraged Buy-Outs, A Practice in Constant Evolution"] published in Target Carrières Juridiques 2008.Reprinted with permission of Target Carrières Juridiques 2008.

October 15, 2007

Vie Active-Corporate

Paris Associate Marie Artaud-Dewitte is the author of "Vie Active-Corporate" [PDF--the article is in French and is a "young professional" profile] published in Target Carrières Juridiques 2008.Reprinted with permission of Target Carrières Juridiques 2008.

October 15, 2007

Schneider/Legrand: le jugement du TPI ne règle pas tout

Brussels Partner Peter Alexiadis and Associate Vassili Moussis are the authors of "Schneider/Legrand: le jugement du TPI ne règle pas tout" [PDF--the article is in French, the title roughly translates as: "Schneider/Legrand: Judgment of the Court of First Instance Does Not Settle Everything"] published in the October 8, 2007 issue of La Lettre des Juristes d'Affaires.

October 8, 2007

The FCPA and Analogous Foreign Anti-Bribery Laws–Overview, Recent Developments, and Acquisition Due Diligence

Washington, D.C. partner John Sturc and associate John W.F. Chesley are the co-authors of "The FCPA and Analogous Foreign Anti-Bribery Laws--Overview, Recent Developments, and Acquisition Due Diligence" [link to PDF] published in the September 24, 2007 issue of Capital Markets Law Journal.

September 24, 2007

The Supreme Court’s Renewed Interest in Antitrust and Intellectual Property Law

Gibson Dunn of counsel James C. Ho is the author of "The Supreme Court's Renewed Interest in Antitrust and Intellectual Property Law" [PDF] published in the ABA Antitrust Litigator.

September 23, 2007

UK Financial Services Authority Ordered to Disclose Identity of Entities Investigated for, But Not Formally Charged with, Regulatory Breaches

In a previous client update ("UK Court of Appeal confirms that documents created by regulators are not always protected from production in court proceedings"), we discussed a recent Court of Appeal decision confirming the limitations on the statutory protections granted to documents created by the chief regulatory body in the UK, the Financial Services Authority (the FSA), in the course of its confidential investigations into regulated entities for suspected rule breaches.  In particular, the Court of Appeal confirmed that such documents are not always protected from production in subsequent court proceedings, even though this will enable claimants to obtain documents that already contain the benefit of a regulatory body's analysis of facts and to obtain advance indications

September 19, 2007

European Court Upholds Narrow Scope of Legal Professional Privilege in EU Cases — Akzo Nobel Chemicals and Akcros Chemicals v Commission

The EU's second highest court, the Court of First Instance (CFI) has today, 17 September 2007, upheld the narrow scope of legal professional privilege in relation to documents seized in the context of EC competition law. In particular, the CFI declined to extend legal privilege in EU competition cases to in-house counsel.

September 17, 2007

Defining “American”: Birthright Citizenship and the Original Understanding of the 14th Amendment

Gibson Dunn of counsel James C. Ho is the author of "Defining 'American': Birthright Citizenship and the Original Understanding of the 14th Amendment" [PDF], published in the Summer 2006 isssue of the Green Bag.

September 16, 2007

Ethics and Lobbying Reform Update

On September 14, 2007, the President signed the Honest Leadership and Open Government Act of 2007 (S. 1). This legislation makes important changes in federal election and lobbying laws, as well as the House and Senate rules.Most of the House rules described below were adopted unilaterally by the House on January 5, 2007 as part of H.

September 14, 2007

IRS Issues Limited Extension to Section 409A Amendment Deadline; Provides Little Relief for Employers and Other Plan Sponsors

On September 10, the IRS issued Notice 2007-78, which provides limited relief from the December 31, 2007 deadline to amend arrangements subject to Section 409A of the Internal Revenue Code.

September 11, 2007