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EU Accuses Shipping Companies of Forming Cartel

Client Alert | less than 1 min read | 04.11.07

On Wednesday April 11, 2007, the European Commission took a step forward in its investigation into shipping companies it claims have formed an anti-competitive cartel in the global carrier industry. The Commission sent statements of objections to the companies which accuses them of bid-rigging, price-fixing and exchanging confidential market information regarding the transportation of bulk liquids by sea. The letter also alleged that they colluded to restrict competition in the EU market. The letter follows a number of raids in February 2003. The companies have two months to respond to the E.C.'s letter and request oral hearings.

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Client Alert | 11 min read | 12.15.25

New York LLC Transparency Act: Key Requirements and Deadlines

On January 1, 2026 (“Effective Date”), the New York LLC Transparency Act ("New York Act”) is scheduled to take effect, introducing new disclosure requirements for limited liability companies (“LLCs”) formed or registered to do business in New York State.  The New York Act is expected to impose the type of broad beneficial ownership requirements the federal CTA and rules implementing it was designed to require, before the federal government’s decision to limit the scope of the CTA’s beneficial ownership reporting requirements to foreign companies and foreign beneficial owners....