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For the New Year, Out with Origin but In with New Definitions of Source & Nationality

Client Alert | 1 min read | 01.11.12

In a final rule published yesterday (but not effective until February 6), USAID revamped its source, origin, and nationality rules applicable to procurement of goods and services purchased with Foreign Assistance Act (FAA) funds both to implement the 1993 amendments to the FAA and to keep pace with the globalized economy.  The new regulations adopt a single, presumptively authorized geographic code 937 (which includes the United States, the cooperating or recipient country, and developing countries, exclusive of advanced developing countries and prohibited sources) and eliminate the “increasingly obsolete and difficult to apply” origin requirement, while changing the definitions of source and nationality to ensure that “fly-by-night” entities cannot be set up somewhere within the authorized geographic region to evade the restrictions.

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Client Alert | 8 min read | 09.08.26

Saxon Woods Investments Limited v Costa [2026] UKSC 21: Good Faith in the Boardroom

The UK Supreme Court has unanimously dismissed the appeal of Mr Francesco Costa, former chairman of Spring Media Investments Limited, in the first Supreme Court judgment to consider the scope of the duty under section 172(1) of the Companies Act 2006. The foundational position is that good faith requires honest conduct as well as honest thinking. A director's genuine belief that they are acting in the company's best interests will not excuse covert or disloyal conduct in pursuit of that belief. ...