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Proposed NRO Clause Would Require Broad Disclosure -- Comments Due Tomorrow

Client Alert | 1 min read | 02.12.04

The proposal of the National Reconnaissance Office (NRO) to add a new standard clause to its contracts that would provide that "contractors and their employees, agents, representatives, subcontractors, and employees of subcontractors shall report to the NRO Inspector General (IG) or General Counsel any and all possible violations of federal criminal law or illegal intelligence activities of which they become aware during performance under an NRO contract," make all relevant records and employees available to the IG (failure to do so grounds for default termination), and flow the clause down to subcontractors raises obvious and serious policy issues. The request for comments are due tomorrow, February 13, despite only being published on February 4, on the NRO website, where the full text of the proposed clause is available.

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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. ...