Use ADA settlement agreements as a guide for monitoring compliance

2021 ◽  
Vol 26 (12) ◽  
pp. 3-15
Author(s):  
Marc Charmatz
Keyword(s):  
Settlement Agreements

EBITDA and DACF multipliers as an indicator of investment attractiveness of domestic vertically integrated companies

2021 ◽  
Vol 20 (4) ◽  
pp. 718-752
Author(s):  
Oleg V. SHIMKO
Keyword(s):  
Oil And Gas ◽  
Stock Exchange ◽  
Oil And Gas Industry ◽  
Financial Economic ◽  
Consolidated Financial Statements ◽  
Gas Industry ◽  
Debt Burden ◽  
Fixed Assets ◽  
Settlement Agreements ◽  
Oil And Gas Companies

Subject. The article addresses the EV/EBITDA and EV/DACF ratios of the twenty five largest public oil and gas corporations from 2008 to 2018. Objectives. The purpose is to identify key trends in the value of EV/EBITDA and EV/DACF ratios of biggest public oil and gas corporations, determine factors resulted in the changes over the studied period, and establish the applicability of these multipliers for assessing the business value within the industry. Methods. I apply methods of comparative and financial-economic analysis, and generalization of consolidated financial statements data. Results. The study revealed that EV/EBITDA and EV/DACF multiples are acceptable for valuing oil and gas companies. The EV level depends on profitability, proved reserves, and a country factor. It is required to adjust EBITDA for information on impairment, revaluation and write-off for assets that are reported separately from depreciation, depletion and amortization costs, as well as for income or expenses arising after the sale of fixed assets and as a result of effective court decisions or settlement agreements. It is advisable to adjust DACF for income, expenses and changes in assets and liabilities, which are caused by events that are unusual for oil and gas companies. Conclusions. The application of EV/EBITDA and EV/DACF multiples requires a detailed analysis and, if necessary, adjustments of their constituent components. However, they are quite relevant in the context of declining profitability and growing debt burden in the stock exchange sector of the global oil and gas industry.

Negotiating without the victim state: the exclusiveness of anticorruption settlements

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nadja Capus ◽  
Kei Hannah Brodersen
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Criminal Proceedings ◽  
International Guidelines ◽  
England And Wales ◽  
Content Type ◽  
The Past ◽  
Settlement Agreements ◽  
To Receive ◽  
Obligation To Inform

Purpose Corporate foreign bribery can have devastating consequences on communities and states. Over the past decade, there have been several promising developments, both national and international, that might increase the chances of victim states to receive remediation for the harm they suffered from foreign bribery. In particular, awareness has risen that victim states must be considered and new innovative items have been added to the toolbox of prosecutors in the fight against corruption that is assumed to also improve victim states’ standing in these procedures. This study aims to assess whether indeed victim states receive compensation through these novel procedures. Design/methodology/approach This study uses the three case studies of Switzerland, France and England and Wales for a comprehensive empirical and normative analysis of settlement agreements between defendants and prosecution authorities and of court jurisprudence. Findings This study shows that although de jure, it seems warranted to order the payment of remedies to victim states within domestic criminal proceedings, in practice, this rarely happens. A number of legal and practical obstacles account for this situation. This study, therefore, calls for the formulation of international guidelines containing the obligation to inform victim states of ongoing criminal proceedings on corporate foreign bribery, and guidance on how to identify the victim of this crime, as well as the damage caused. Originality/value This is the first contribution to verify whether claims that settlement agreements, recently introduced in England and Wales and France (and similar procedures are available in Switzerland), are beneficial for victim states in their quest to receive compensation. As this study shows that this is – not yet – the case in practice, this study proposes solutions that could lead the way for remediation of the harm caused by corporate corruption – and thereby, ultimately, to a more just outcome.

scholarly journals The Albanian Enforcement System

Lexonomica ◽  
2021 ◽  
Vol 13 (1) ◽  
pp. 109-134
Author(s):  
Flutura Kola
Keyword(s):  
European Union ◽  
Legal System ◽  
European Countries ◽  
The European Union ◽  
Commercial Area ◽  
European Union Countries ◽  
European System ◽  
Settlement Agreements

This article presents an overview of the Albanian legal system of enforcement in the civil and commercial area. Its purpose is not only to identify the enforcement system in Albania and the characteristics of each enforcement title but also to compare it with that of the Brussels IA Regulation. The article concludes that the Albanian enforcement system is built on the spirit of the European system and is very similar to several European countries. However, the range of foreign enforcement titles that can be recognized and enforced in Albania is narrower than that provided in the European Union countries. Therefore, it should be expanded to include, in addition to irreversible judgments, other European enforcement acts, such as European Payment Order, Settlement Agreements, Authentic instruments, etc.

Part 2 National and Regional Reports, Part 2.2 Asia: Coordinated by Yuko Nishitani and Béligh Elbalti, 35 Singapore: Singaporean Perspectives on the Hague Principles

2021 ◽  
Author(s):  
Yeo Tiong Min
Keyword(s):  
New York ◽  
International Law ◽  
Common Law ◽  
Private International Law ◽  
Party Autonomy ◽  
Important Principle ◽  
Settlement Agreements ◽  
The Hague ◽  
Model Law ◽  
New York Convention

This chapter describes Singaporean perspectives on the Hague Principles. Party autonomy is recognized as a very important principle in the private international law of Singapore. The primacy given to the role of party autonomy is evidenced by the adoption of the New York Convention and UNCITRAL Model Law for international arbitration, the adoption of the Convention on Choice of Court Agreements for international litigation, and the palpable support of the UNCITRAL Convention on International Settlement Agreements Resulting from Mediation. Most of private international law in Singapore is sourced in judge-made law. In the absence of direct Singapore authority, Singapore courts have traditionally looked to English case law for guidance, but increasingly, the courts have looked to the laws of other jurisdictions, and indeed international instruments which do not have binding force in Singapore law. Given the level of sophistication of existing common law contract choice of law rules, it is unlikely that Singapore will engage in radical law reform. However, it is likely that the Singapore courts will continue to look to the Hague Principles for guidance in areas where the common law is unclear or where there is a gap or strong imperative for change.

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