http://www.bellgully.com Welcome to Bell Gully's regular round-up of issues relevant to in-house counsel. ../gfx/bell_gully_logo.gif http://www.bellgully.com Copyright 2006 Bell Gully. All Rights Reserved. webmaster@bellgully.com?subject=RSS_Query 60 en-us A lawyer dealing with complex issues including human rights and intercountry adoption is the winner of this year's CLANZ-Bell Gully Young Corporate Lawyer of the Year Award. http://www.bellgully.com/resources/resource.02560.asp Global companies operating in China used to be full of western-trained lawyers acting as in-house counsel. This article discusses the recent rise in homegrown in-house counsel and the benefits they bring to organisations. http://www.legalweek.com/legal-week/analysis/1588048/the-china-syndrome The Ministry of Economic Development has released a report raising the prospect of up to seven years imprisonment for those involved in 'hard core' cartel behaviour. Jail time would bring New Zealand into line with countries such as Australia (which has only recently criminalised cartel conduct) and the United States, which has seen enforcement agencies routinely seeking imprisonment since the 1970s. http://www.med.govt.nz/upload/70683/Cartel-Criminalisation.pdf Australia's corporate cop, ASIC, has just released guidelines for handling confidential information in the Australian share market. The regulator's bid to stop confidential information finding its way out into the market is likely to result in increased compliance costs for many businesses. http://www.smh.com.au/business/asic-rolls-out-reforms-to-patch-insider-canoe-20091221-la4q.html Creating policy around social media can be tricky business. This article introduces some interesting questions for in-house counsel to consider when framing social media policy. http://blogs.findlaw.com/in_house/2009/11/twitter-policy-in-house-counsels-take-on-140-characters.html The business community demands practical, commercially-focused advice from its lawyers. In this article, Zoe Lyon looks at the benefits for private practice and in-house counsel of using plain English and bringing their advice back to basics. http://www.lawyersweekly.com.au/blogs/inhouse_features/archive/2009/11/10/plain-sailing-lawyers-favour-keeping-it-simple-over-legalese-and-latin.aspx Industry networking can be a challenge for in-house counsel working in small legal teams or perhaps even as their organisation's sole legal practitioner. This article provides some advice on ways in-house counsel can effectively develop networks. http://www.lawyersweekly.com.au/blogs/inhouse_features/archive/2009/10/14/making-the-connection-networking-for-busy-lawyers.aspx The Commerce Commission has released guidelines on how applications for mergers and acquisitions involving the 'failing firm' argument will be treated. http://www.lawsociety.org.nz/publications_and_submissions/lawtalk/2009_issues/lawtalk,_issue_743/failing_firm_guidelines Deficiencies in corporate governance practices have been highlighted by many recent corporate failings. It is not surprising that corporate governance and its role in controlling and monitoring the business of companies is being scrutinised again as regulators, shareholders and others seek answers to questions such as how could it all have gone so wrong? And, more importantly, what lessons need to be learnt to avoid future crises? http://www.bellgully.com/resources/resource.02317.asp Lexis Nexis general manager for legal markets Mike Russell recently hosted nine senior lawyers and managers from top Australian firms for a roundtable discussion on the future of law. http://www.theaustralian.news.com.au/business/story/0,28124,25757322-17044,00.html While Chinese investment into Australia dominates the country's headlines, there are significant investment opportunities in China which should not be ignored. http://au.legalbusinessonline.com/news/features/china-fdi-a-two-way-street/35528 It has been eight years since Enron placed corporate governance under the spotlight for companies, investors and governments worldwide and the global financial crisis has renewed that focus. http://www.bellgully.com/resources/resource.02317.asp This article argues that increased in-house employment opportunities in Australia's corporate and government sector is evidence that businesses and organisations are bolstering their in-house capacity to avoid briefing work out to expensive external providers. http://www.lawyersweekly.com.au/blogs/top_stories/archive/2009/06/17/in-house-roles-spike-during-downturn.aspx In this article, Cadbury GC Karen Perret talks about her approach to engaging outside counsel and Cadbury's experience appointing a formal legal panel for its Australian operations. http://au.legalbusinessonline.com/contents/features/35526/1/details.aspx A strong line-up of speakers shared knowledge and inspiration at this year's annual Corporate Lawyers Association of New Zealand (CLANZ) conference in Christchurch last week. http://www.bellgully.com/resources/resource.02216.asp A lawyer described as an inspiration to all corporate counsel is the winner of the 2009 CLANZ-Bell Gully Young Corporate Lawyer of the Year Award. http://www.bellgully.com/resources/resource.02213.asp In this article, NZLawyer talks to award-winning in-house counsel about what makes a good leader within small teams, as part of an organisation and within the in-house profession. http://www.newzealandlawyer.co.nz/CurrentIssue/Issue111/111F7/tabid/1726/Default.aspx The economic environment, a change of Government and a changing of the guard at the Commerce Commission provide an opportunity for the Commission to shift its balance towards a greater emphasis on resolving cases earlier and at lower cost to New Zealand Inc. http://www.bellgully.com/resources/resource.02208.asp The impact of social networking sites like Facebook and MySpace on employment issues is broadening. In Australia, Telstra General Counsel has just released a six-page memo for its employees outlining its policy for behaviour on these sites. http://www.thenewlawyer.com.au/article/Telstra-lawyer-on-social-behaviour-memo/478029.aspx This two part series looks at what steps some New Zealand in-house counsel are taking to survive the current economic downturn and to ensure that they emerge from it stronger than ever. http://www.newzealandlawyer.co.nz/Archives/Issue108/108F7/tabid/1654/Default.aspx This two part series looks at what steps some New Zealand in-house counsel are taking to survive the current economic downturn and to ensure that they emerge from it stronger than ever. http://www.newzealandlawyer.co.nz/CurrentIssue/Issue109/109F9/tabid/1679/Default.aspx Social networking platform, Connected, run by the LexisNexis Group, is proving a popular resource for in-house lawyers. After opening up for users four months ago, half of the almost 3000 lawyers already signed up are in-house counsel. http://www.lawyersweekly.com.au/blogs/inhouse_news/archive/2009/03/31/let-the-network-do-the-work.aspx The nine-day working fortnight scheme is designed to abate the impact of the current global economic turmoil on New Zealand businesses and their employees. This article looks at how the scheme will work and some of its potential benefits and drawbacks. http://www.bellgully.com/resources/resource.02147.asp London's leading financial services lawyers have welcomed proposals aimed at shaking up Britain's banking sector. The more interventionist approach proposed will give banks less freedom to choose their appetite for risk. Many believe the success of the proposals will hinge largely on how much global support there is for greater financial supervision. http://business.timesonline.co.uk/tol/business/law/article5933390.ece This report looks at two recent judgements on cartel activity in New Zealand, which it sees as indicative of the increased investigation into cartel activity by the Commerce Commission. http://www.nbr.co.nz/article/com-com-increases-prosecution-cartels-87253 Many UK law firms have implemented cost-saving measures in 2009 and these measures have been welcomed by clients demanding better value for money in tough economic times. In this article, Alex Aldridge finds that many firms still have a long way to go before clients are convinced that they will see the benefits. http://www.legalweek.com/Articles/1197531/Better+late+than+never.html The Commerce Commission has welcomed a Court of Appeal ruling which confirms New Zealand courts' jurisdiction over overseas residents alleged to have breached the Commerce Act. http://www.comcom.govt.nz/MediaCentre/MediaReleases/200809/courtofappealupholdscommissionsabi.aspx The Australian Securities and Investments Commission has announced that it will keep the ban on covered short selling of financial securities in place until 31 May 2009 but will keep this position under review. http://www.asic.gov.au/asic/asic.nsf/byheadline/MR09-36+ASIC+extends+ban+on+covered+short+selling+of+financial+securities?openDocument In-house counsel at several leading Australian and New Zealand businesses comment on what they see as the biggest challenges for 2009. http://au.legalbusinessonline.com/news/features/panel-discussion-in-house-counsel-speaks/34117 For firms facing closure in these tough economic times, the prospect of recouping some of the losses by selling to another industry player is likely to be welcomed. This article discusses the scope to achieve Commerce Commission blessing for such a sale, even when it might result in the purchaser gaining a very high market share (or even a monopoly). http://www.bellgully.com/resources/resource.02116.asp Australia has its first internet-based system offering free access to citations, LawCite. The database was developed by the Australasian Legal Information Institute and is available at: http://www.austlii.edu.au/lawcite/ Australia's banking industry has called for improved regulation of credit rating agencies, largely held responsible for triggering the global financial crisis. Key industry representatives met recently to discuss potential reforms. http://www.theaustralian.news.com.au/business/story/0,28124,25144899-643,00.html General Counsel of America's Association of Corporate Counsel Susan Hackett speaks frankly about in-house counsel's role in the financial meltdown and key issues to consider in 2009. http://www.law.com/jsp/PubArticle.jsp?id=1202427448050 Bell Gully welcomes the Government's announcement that it will be embarking on a significant series of reforms to the Resource Management Act (RMA). http://www.bellgully.com/resources/resource.02078.asp The Commerce Commission has started the year with a full book of reviews that will shape its approach to the regulation of some of New Zealand's key industries. http://www.newzealandlawyer.co.nz/CurrentIssue/Issue105/F4/tabid/1579/Default.aspx Several high-profile Australian companies have fallen victim to the global financial crisis and their shareholders are now launching class actions against the insolvent companies and their boards of directors. It's a trend which began in the United States, where more than 100 class action claims are already in the courts. The claims mostly relate to boards of companies providing poor or misleading information to shareholders, breaching their corporate governance requirements. http://www.abc.net.au/news/stories/2008/12/05/2438877.htm A change to New Zealand's employment law means that employers with fewer than 20 employees can, by written agreement, employ workers on a 90 day trial period. During that period, employers may terminate the employment relationship without the risk of the employee bringing a personal grievance claim. http://www.beehive.govt.nz/release/new+zealanders+have+greater+employment+opportunities