By Joseph Bellinger, Offit Kurman
Case Study No. 1: An award-winning custom home builder that had been in business in Maryland for over thirty years suddenly ceased operating and filed a bankruptcy liquidation proceeding in November 2015. In the few weeks just prior to the bankruptcy filing, approximately twenty customers had signed contracts and paid deposits of up to $25,000 for the construction of their dream homes. Their deposits were not held in escrow; they were used to pay operating expenses.
By Joseph Bellinger, Offit Kurman
By Herb Fineburg, Offit Kurman
Recently, it was reported that a paint supplier who sued the Trump National Doral resort and spa for an unpaid bill obtained a judgment against the resort of USD 32,000 for paint plus a staggering USD 390,000 in collection legal fees. In the US, each party pays their own legal fees in commercial litigation unless the contract provides otherwise. Even the Trump organisation did not notice or object to the legal fees claim in the supplier’s contract or credit application.
By Leslie Berkoff, Moritt Hock & Hamroff LLP
Over the past six months, the number of cybersecurity attacks have increased around the globe, many of which have specifically impacted the healthcare industry.
By Matteo Zanotelli, SLT Strategy Legal Tax
The relationship between pending arbitral proceedings and the insolvency of one of the parties involved is a matter for study and discussion.
By Leonardo Mazzillo and Alessandra Marcondes D’Elia, WFaria Advogados
Recently, the Brazilian Congress has approved the country’s first major review of labour rules in more than seven decades, substantially modifying the Consolidation of Labour Laws (‘CLT’), promulgated in 1943.
By Prof Stefano Loconte and Francesca Paulon, Loconte & Partners
Has anybody ever considered the link between faith and finance? This unusual bond characterises the Islamic world, where there is no separation of ‘church’ and ‘state’. As a matter of fact, Islam does not subscribe to a secular model whereby religion plays no role (or a minor one), on the grounds that Islam is an Arabic term which means ‘submission to God’s will’. The faith level permeates all aspects of life of the so called homo islamicus, also laying down clear principles and guidelines for business and financial dealings.
By Jeffrey Kenens, TeekensKarstens advocaten notarissen
Article 25 of the Dutch Works Councils Act states that an entrepreneur is required to consult the Works Council about intended decisions related to matters of finance, commerce and business organisation. This includes, for example, an intended decision to transfer the control of the business or to cease the business activities. Under Dutch law there has been a discussion about whether the receiver is obliged to request advice from the Works Council during the liquidation of the company’s business.
By Fernando Retzler Martins, WFaria Advogados
Trusts are a useful and powerful planning instrument worldwide and are also used by Brazilian tax residents for estate, succession and tax planning. However, their recognition and disclosure in Brazil is a complex topic, subject to conflicting interpretations and many grey areas due to the lack of clear and specific regulations.
By Merrill April, Sarah Martin and Emily Parker
The new Apprenticeship Levy (Levy), which came into force on 6 April 2017, requires certain UK employers to invest in apprenticeships.
By Howard Kurman, Offit Kurman
Today, most employers include detailed workplace harassment and discrimination complaint procedures in their employee handbooks. These procedures often provide that employees who have witnessed or experienced workplace harassment or discriminatory acts can use the stated procedure to invoke the employer’s investigatory and remedial assistance where applicable.
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