(v) In para. 38 of Afcons, Supreme Court has reaffirmed that when a matter is settled through conciliation, the settlement agreement is enforceable as if it is a decree of the court having regard to Section 74 read with Section 30 of 1996 Act.However, it is clarified that though the settlement agreement in a conciliation may not require the seal of approval of the court for its enforcement when itis made in a direct reference by the parties without the intervention of the court, the position will be different if it is made on a reference by a court in a pending suit/proceedings.The said para. is also to the effect that as the court continues to retain control and jurisdiction over the cases which it refers to conciliation, the settlement agreement in conciliation award will have to be placed before the court for recording it and disposal in its terms. … [Read more...] about Companies (Mediation And Conciliation) Rules, 2016 – “Giant Leap” Or “Achilles Heel” For Mediation In India?
If the Supreme Court agrees with the decisions of the tribunals below, the FCA will clearly need to exercise more caution as to the level of detail it includes in future decision notices. It may be diffficult for the FCA to make references to individuals in a way that does not make them identifiable by others in the financial services industry, particularly in respect of high profile matters. There is a risk this will neuter FCA notices and make it even harder to discern the full reasons behind adverse regulatory findings. … [Read more...] about UK Supreme Court to Decide if London Whale Notices identified Achilles Macris
This judgment is also likely to impact upon the position of Mr Vogt (a former Deutsche Bank employee) discussed in a further previous blog post. The Upper Tribunal had decided that Mr Vogt could not be identified in an FCA notice. He sought permission to appeal and his application was stayed pending the Supreme Court decision in Macris. … [Read more...] about UK Supreme Court Confirms London Whale Notices Did Not Identify Achilles Macris
It’s no secret that local directory/consumer review websites are popular among consumers looking for recommendations before dining out, hiring a contractor, or even picking a dentist or day spa. Yelp reported around 138 million monthly unique visitors in the second quarter of 2014, searching among over 61 million local reviews. The bottom line is that solid reviews and multiple stars on local search sites can drive sales; on the other hand, and to the chagrin of business owners, low ratings and a spate of one-star rants displayed prominently at the top of a listing can drive customers away. … [Read more...] about Website Marketing Statements: The Achilles’ Heel to Communications Decency Act (CDA) Protection?
8. Educate Management on Capital Market Developments. Management needs to stay abreast of capital failures and successes in the industry. Internal reviews and understanding of the bank’s position are important, but so is an understanding of how other banks have or have not raised capital. Management should follow industry developments and keep itself informed about where other banks are finding capital, how they are utilizing it and their strengths and weaknesses in managing that new capital. Lessons can be learned from both failed banks and banks that have successfully boosted capital and nursed themselves back to health. There may not be a one-size-fits-all solution, but understanding the successes and failures of others may lead to development of a unique strategy that could work for a particular bank. Analyze the industry, identify trends and apply them toward creating your own solutions. The complex and unique current operating environment requires that management … [Read more...] about Community Banks’ Achilles’ Heel: Strategies for Raising Capital in a Capital Poor Environment