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Corruption Risks and Corporate Social Responsibility Spending

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Corruption Risks and Corporate Social Responsibility Spending Corruption Risks and Corporate Social Responsibility Spending Global companies have been embracing socially responsible spending projects to build stronger relationships with local communities, writes Michael Volkov in his firm’s Corruption, Crime & Compliance blog. He writes that the idea makes a lot of sense and real projects can result in real benefits. “As with any significant source of money, there are risks. Major global companies have been caught in some embarrassing situations, some of which can have real legal and reputational consequences,” he explains. In an attempt to promote the goodwill of the company in emerging markets, companies sometimes spend large amounts of money, only to find out later that foreign leaders have lined their pockets with the funds to the detriment of the locally intended beneficiaries, he adds. Read the article. Smart Contracts: A Tool for Bank Lawyers, Not a Replacement Banks’ interest in smart contracts could lead them to beef up their legal departments in the near term, as the financial industry and regulators alike continue to wrestle with the implications of blockchain technology, writes Brian Patrick Eha of American Banker. In his article Eha explains that “a smart contract is a piece of software that executes its terms automatically and encodes rules agreed upon by all parties. Smart contracts are decentralized — living on a blockchain — and transparent, viewable by all parties. They can be used to transfer value, and that transfer is triggered in response to certain events.” “What if smart contracts were to catch on? Ideally, the code would be reusable in the form of templates, cutting down on legal busywork. Just not all legal work,” according to the article. Read the article. 5 Key Terms to Know for Vendor Contracts CIOs, CISOs, CTOs, and other risk and security professionals should familiarize themselves — or refresh their recollections — around Price and Payment, Proprietary & Confidential Info, Changes in Scope and Deliverables, Termination and Remedies, Disclaimers and Indemnifications, advises David Adler in CIO. “Several obstacles affect and often limit successful negotiations in this area,” he writes. “The risk itself can be a moving target. For example, in the acquisition of an IT services subscriber base (regardless of industry), how will customer attrition, revenue projection revisions, and loss of key personnel affect the price paid (value)?” “One way to prepare for and better engage in such negotiations is to develop a contract negotiation playbook,” he adds. “While each set of tactics and strategies will necessarily reflect the internal business rules of the individual company, the five areas discussed here should form a part of any playbook.” Read the article. Greensfelder Chicago signs John L. Senica, Moves to Larger Office Space The law firm Greensfelder, Hemker & Gale, P.C. announced that John L. Senica has joined the firm’s Chicago office as an attorney in the Business Services Practice Group. The also announced expanding its Chicago office space on the 33rd floor of its current building at 200 West Madison St. Senica has more than 30 years of experience in corporate law, working in finance, secured lending, private equity and venture capital. He represents clients in business, commercial lending and commercial real estate transactions. He works with closely held companies and commercial lenders and handles matters related to business planning, commercial finance and mergers and acquisitions, the firm said in a release. Prior to joining Greensfelder, Senica was the founding member and Resident Director of the Chicago Office of Miller Canfield, where he also served as a Senior Principal. Previously, he practiced in business transactional law for more than a decade as an equity partner at an Am Law 50 national law firm. “John is a great addition to our firm as he brings decades of experience in corporate law and helps to further broaden Greensfelder’s transactional practice in Chicago,” said David B. Goodman, Managing Officer of Greensfelder’s Chicago office. “John’s insights and experience from opening and growing Miller Canfield’s office in Chicago also will be invaluable as we continue to expand and build Greensfelder’s presence in the Chicago market.” Senica said, “As a Chicago native, I have a strong affinity for Midwest people, values and culture, and I was particularly drawn to Greensfelder’s culture and rate structures that I believe are highly appealing to middle market businesses and banks in Chicago and across the nation. I also am impressed by the firm’s deep commitment to Illinois expansion, as well as the depth of talent at the firm across a wide range of practice areas including real estate, franchising, health care and energy.” Senica joins Greensfelder as the firm moves its Chicago office to expanded space with about 52 percent more square footage than the space it previously occupied since the office first opened in November 2008. Senica is a Fellow of the American Bar Foundation and formerly served on the Board of Directors of the LaSalle Street Council. He earned his J.D. from Northwestern University School of Law and holds a B.A. from the University of Notre Dame. Legal Symposium: Issues Facing U.S. Subsidiaries of Japanese Multinationals Masuda Funai will host a legal symposium titled “Issues Facing U.S. Subsidiaries of Japanese Multinationals” on Thursday, June 9, 2016, in Glenview, Ill., at the Glen Club, 2901 W. Lake Avenue. Glenview is a suburb of Chicago. The event will begin at 8 a.m. with registration, networking and breakfast. The program beings with a session called “Compliance Concerns; Business Ethics,” starting at 8:30 a.m. Next will be “Governance and Parent-Subsidiary Matters” at 9:30 a.m. The morning program will include “Protection of Intellectual Property” at 10:45 a.m. “Update on Professional Responsibility Issues” will be presented at 12:30 p.m., after lunch. Anyone wanting more information may contact Carrie Buell, Senior Marketing Coordinator, at [email protected] or 312.245.7444. Register for the symposium. Webinar: Solar Solutions for Business Greentech Media and NRG Energy Inc. will conduct a webinar to help companies just beginning to consider solar as part of their overall energy strategy, as well as those already further down the path to a solar solution. The event will be Tuesday, June 7, at 2 p.m. Eastern time. “In this webinar, two experts from NRG’s renewables team will discuss how businesses can navigate through the possibilities and logistics of a solar solution – from choosing relevant technologies to implementing effective delivery approaches,” Greentech says on its website. “Both are vital in turning the promise of solar power into the reality of a functioning system.” Register for the webinar. Ernest Aliseda Joins Dykema’s McAllen Office Ernest Aliseda has joined Dykema in its Commercial Litigation Practice Group as a member in the firm’s McAllen, Texas office. Prior to joining Dykema, Aliseda served as General Counsel/Chief Legal Officer for the Loya Insurance Group companies, where he handled general legal matters and managed and oversaw diverse litigation throughout the country. Aliseda is also a former State District Judge for both the 398th and 139th State District Courts in Hidalgo County. In a release, the firm said Aliseda will advise and represent clients in commercial and general litigation matters, along with serving as a mediator and arbitrator in personal injury, commercial, employment, international and personal injury law cases. “We are very pleased and fortunate to add an attorney of Ernie’s stature to our roster,” said Diann Bartek, Office Managing Member of Dykema’s McAllen office. “His reputation precedes him. There is no doubt that his strong background in commercial litigation and his experience as a judge will be extremely valuable to the firm and its clients.” Aliseda is a governor-appointed Regent of the University of Texas System Board of Regents and a State Bar of Texas President-appointed member of the Board of the Texas Bar College. He received his law degree from the University of Houston Law Center and his undergraduate degree from Texas A&M University. He is board certified by the Texas Board of Legal Specialization in personal injury trial law, along with being trained as a mediator, arbitrator, and litigation management professional. He is also a lieutenant colonel in the U.S. Army Reserves, where he serves as a military judge. Wal-Mart Wins Dismissal of Mexico Bribery Lawsuit A Delaware judge has dismissed a lawsuit by Wal-Mart Stores Inc. shareholders who accused the board of the world’s largest retailer of trying to cover up bribes paid by company executives in Mexico, according to a report by Reuters. The Delaware judge ruled that an earlier dismissal by an Arkansas judge of a nearly identical lawsuit by another group of shareholders precluded the Delaware case from going forward. “He said that while the Arkansas plaintiffs may have chosen to rush their case rather than fully investigate alleged wrongdoing, their haste did not disqualify them from representing Wal-Mart shareholders,” Reuters reported. In 2012, The New York Times reported that found Wal-Mart had engaged in a multi-year bribery campaign to build its Wal-Mart de Mexico business. Read the article. $100M Uber Settlement Attacked By Drivers Saying Lawyer Sold Out The lawyer who struck a $100 million deal with Uber Technologies Inc. is being accused of greed by some of the drivers covered by the accord who want her bumped, reports Bloomberg News. “She has single-handedly stuck a knife in the back of every Uber driver in the country,” Hunter Shkolnik, a New York lawyer who’s pursuing his own cases against the ride-share service, said Friday in a phone interview with Bloomberg. “The entire class was thrown under the bus and backed over.” Shkolnik asked the San Francisco federal judge who presides over the class-action settlement to remove Shannon Liss- Riordan as lead attorney.
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