January

Basel introduces tough capital rules affecting hybrid securities - On Thursday, 13 January 2011, the Basel Committee announced guidelines that impose tough new requirements on hybrid securities if banks wish to count these towards their regulatory capital. The aim of the new guidelines is to ensure that a bank's regulatory capital fully absorbs loss at the point the bank becomes "non-viable" and exposes taxpayers to losses.
Cascading restraint clauses valid and enforceable - The important decision of Justice Hammerschlag in OAMPS Insurance Brokers Ltd v Hanna [2010] NSWSC 781 upheld the validity of a clause which provided for different periods and distances of restraint of trade.
Clayton Utz client Uniloc wins patent infringement case against Microsoft - Clayton Utz client Uniloc's claims of patent infringement against Microsoft have recently been upheld by the United States Court of Appeals for the Federal Circuit (CAFC), vindicating Uniloc's struggles against the software giant.
Clayton Utz tops Thomson Reuters M&A league tables as activity surges - A flurry of M&A activity in the last quarter of 2010 has helped catapult Clayton Utz to a first place ranking in the Full Year 2010 Thomson Reuters Legal Advisor M&A League Tables.
Copyright in medical records: where is the "independent intellectual effort"? - Australian courts have been emphasising the importance of "independent intellectual effort" in copyright cases recently, and Primary Health Care Ltd v Commissioner of Taxation [2010] FCA 419 is another in this trend.
Directors' indemnities and the Australian Consumer Law: Are you covered? - Most directors think that they are adequately protected if they have D&O insurance cover in place and rights under a deed of access and indemnity. They might or might not be right.
Goodridge appeal provides commercial clarity for securitisation - The full Federal Court, in its clear and well-reasoned decision allowing the appeal in Leveraged Equities Limited v Goodridge [2011] FCAFC 3, has allayed concerns raised by the first instance decision in relation to assignment transactions, especially securitisations.
Overview of Basel III - minimum capital requirements and global liquidity standards - Under Basel III the total capital a bank is required to hold is 8.0% of its risk-weighted assets. Total capital is divided into two broad categories: Tier I capital and Tier II capital.
Queensland floods - Brisbane office update - We have closed our Brisbane office in response to flooding in the Brisbane CBD.
Queensland office back open for business - We hope all of our Queensland clients, community partners and their loved ones are safe and well after the challenges of the past two weeks.
Top Australian lawyer elected head of global arbitration body - International arbitration specialist and Clayton Utz partner Doug Jones AM has been elected President of the Chartered Institute of Arbitrators, a world-wide leader in the training, accreditation and practice of alternative dispute resolution.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.