This article was sourced from Market Watch. Article by Catey Hill. In some places around the world, even rich residents don’t pay income taxes. An analysis of personal top income tax rates released Thursday by Howmuch.net revealed that residents of some countries — many of which are in the Middle East — don’t pay any income […]
This article was sourced from Market Watch. Article by Greg Robb. The Federal Reserve on Monday fleshed out how its new fan charts might look when the central bank adds them to their economic projections starting next month. Analysts said the descriptive charts will be used to stress the uncertainty of its quarterly economic forecasts. A […]
This article was sourced from The Wall Street Journal. Article by Liz Hoffman. Morgan Stanley said it had given a “significant number” of wealth-management clients incorrect information that caused them to underpay their taxes. In its annual regulatory filing Monday, Morgan Stanley MS, +0.68% said it is in “advanced discussions” with the Internal Revenue Service to […]
This article was sourced from Tech Crunch. Article by John Mannes. Conversational AI is pushing deeper into enterprise with Workfit, a new startup promising to make conference call follow-ups and mid-meeting CRM updates as easy as playing a song or checking the weather on Google Home or Amazon Echo. Battery Ventures, Greycroft Partners, Salesforce Ventures and […]
This media release was sourced from Australian Financial Security Authority. Media release: NSW (ROSENBERG) Mr Gary Steven Rosenberg of St Ives, New South Wales, was sentenced on 21 February 2017 after pleading guilty to an offence of materially contributing to his insolvency by gambling. Mr Rosenberg filed for voluntary bankruptcy in June 2014. Between June […]
This article was sourced from Forbes. Article by Jason Bloomberg. In many corporate boardrooms, the word Agile conjures up images of small teams of hotshot software developers, iterating over their backlogs of requirements so rapidly they don’t have time to sit down during their daily status meetings. At ICAgile’s inaugural Business Agility 2017 conference in New […]
This article was sourced from Tech Crunch. Article by Christoffer O. Hernæs. The idea of a cashless society is one of the topics that stirs up a heated debate when it comes to the digitalization of banking and society. On one hand, physical cash is the common denominator for corruption, tax evasion, money laundering and other various illegal […]
This article was sourced from Corrs Chambers Westgarth. BACKGROUND In the recent Court of Appeal decision of Primary Securities Ltd v Willmott Forests Limited, liquidators had been appointed to an insolvent company which was the responsible entity of a managed investment forestry scheme. Later, the Appellant replaced the company as the responsible entity of […]
This article was sourced from Business Insider. Article by Will Martin. The European Union is sounding the alarm on Italy’s massive debt pile and warning that the country must take action soon or risk being declared in breach of EU rules. The European Commission released its annual economic and social analysis of EU Member States on […]
This article was sourced from JD Supra Business Advisor. Article by Shumaker, Loop & Kendrick, LLP. The Seoul Central District Court declared Hanjin Shipping Co Ltd bankrupt on Friday February 17, 2017, after ruling that Hanjin’s liquidation value was greater than its going concern value. Claims by creditors are due by May 1, 2017 and the […]
This article was sourced from Byrne Wallace. Article by John Fitzgerald. In McFeely v Official Assignee in Bankruptcy [2017] IECA 21, a judgment delivered by Mr. Justice Peart on 2nd February 2017, the Court of Appeal has reiterated the importance of maintaining the integrity of the bankruptcy process in Ireland, and in so doing has provided […]
This article was sourced from JD Supra Business Advisor. Article by Kevin Brodehl. Defaulting on a loan typically triggers a higher interest rate — “default interest” — as one of many consequences for the borrower. (Other consequences include acceleration of the maturity, late fees and penalties, and foreclosure.) Can a defaulted borrower avoid paying default interest […]
This article was sourced from JD Supra Business Advisor. Article by Christopher Lazarini. Bass, Berry & Sims attorney Chris Lazarini commented on a case in which objectors (a law firm, banks and accountants) opposed a bankruptcy trustee’s Rule 2004 Motion requesting information related to his investigation of potential claims in a bankruptcy proceeding. While the objectors […]
This article was sourced from JD Supra Business Advisor. Article by Rachel Cocciolo. In a decision rendered on December 30, 2016, the bankruptcy court for the Southern District of Florida (the “Court”) addressed the debtor’s counsel’s interim application for an award of fees and expenses for services rendered to the debtor and its bankruptcy estate, as […]
This article was sourced from Mintez Levin. Article by Charles W. Azano. There are numerous reasons why a company might use more than one entity for its operations or organization: to silo liabilities, for tax advantages, to accommodate a lender, or for general organizational purposes. Simply forming a separate entity, however, is not enough. Corporate formalities […]
This article was sourced from JD Supra Business Advisor. Article by Leah Fiorenza McNeill. Most restructuring practitioners are aware, either vaguely or through punishing experience, of the power of PACA creditors. PACA (or the Perishable Agricultural Commodities Act, 7 U.S.C. § 499a et seq. for those who hate brevity) requires that buyers of produce hold such […]
This article was sourced from JD Supra Business Advisor. Article by Paul Fanning, Norman Leonard. LENDERS CANNOT REVIVE A GUARANTY OBLIGATION DISCHARGED IN BANKRUPTCY WITH A SUBSEQUENT MODIFICATION OR FORBEARANCE AGREEMENT, EVEN WITH NEW CONSIDERATION; AND ATTEMPTING TO DO SO MAY LEAD TO LENDER LIABILITY EXPOSURE. Recently, a bankruptcy judge in the United States Bankruptcy Court […]
This article was sourced from JD Supra Business Advisor. Article by John Melissinos. We asked some of our financial advisor colleagues to give us brief read outs on what they felt 2017 has in store for us now that we have gotten beyond the inauguration and into the first weeks of the Trump administration. Their thoughts […]
This article was sourced from JD Supra Business Advisor. Article by Tracy Green. The contractor on a project files a bankruptcy case. How should the property owner and subcontractors proceed? When a party to a contract files bankruptcy, the other party’s actions are constrained by the bankruptcy code. Types of Bankruptcies The typical bankruptcy case involves […]
This article was sourced from Insolvency Interface. Article by Peter Keenan. Some of the changes to the Australia’s bankruptcy legislation approved when the Insolvency Law Reform Act was passed in 2016 will commence on 1 March 2017. The Australian Financial Security Authority (AFSA), the regulator of the Bankruptcy Act, has issued a table listing those […]