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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United States | Publication | December 7, 2021
The U.S. Court of Appeals for the Seventh Circuit heard oral argument on September 14, 2021, in Cothron v. White Castle System, Inc.,1 a case that has the potential to convert a violation of the Illinois Biometric Information Privacy Act2 (“BIPA”) into a business-shuttering offense – without any demonstration of actual injury to the plaintiff. While the case raises substantial equitable and constitutional questions, which were addressed in the briefing submitted by White Castle and its amici, the oral argument focused largely on whether the Seventh Circuit should address the issue before it or, instead, certify the question to the Supreme Court of Illinois.
The latter proposition has many businesses feeling anxious because the last time the Illinois Supreme court considered a major question regarding BIPA’s construction, it adopted a broad reading that opened the floodgates to class action litigation under the statute. For businesses with operations in Illinois that use biometric technology, this case is an important one to watch.
Download the full Privacy & Cybersecurity Law Report, "Seventh Circuit Court of Appeals weighs asking Illinois Supreme Court to resolve construction of the Biometric Information Privacy Act."
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Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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In the recent decision of Euronav Shipping NV (Euronav) v Black Swan Petroleum DMCC (BSP) [2024] EWHC 986 (Comm) (the Judgment), the English Commercial Court has underscored the role of comity in international disputes.
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