On March 16, 2020, a New York jury convicted businessman Sadr Hashemi Nejad for orchestrating a scheme to funnel millions of dollars in payments to Iranian individuals and entities through the U.S. financial system, in violation of OFAC Sanctions. Specifically, the jury found that Sadr created a network of bank accounts and front companies to […]
Each passing day of the COVID-19 pandemic brings new challenges, with government officials saying it could be, at best, months before we return to normalcy. Given the economic upheaval and looming cash flow restrictions that are resulting from increasingly harsh measures to control the pandemic, business leaders at all levels are asking themselves: what are […]
Miami, March 23, 2020 – Miami-based global law firm Diaz Reus announces that Broward County Judge Robert E. Lee has granted a motion to dismiss for lack of personal jurisdiction against software consulting firm, Chetu, Inc. The motion, brought by Diaz Reus on behalf of an officer of a California corporation that was also sued […]
On March 16, 2020, the Financial Crimes Enforcement Network (“¨FinCEN”) of the U.S. Department of the Treasury issued a public statement warning financial institutions about “illicit behaviour connected to COVID-19.” Specifically, FinCEN noted the following “emerging trends”: Imposter Scams: criminal impersonating government agencies, international organizations, and healthcare organizations, to solicit donations, steal personal information, or […]
Miami, March 19, 2020 – Miami-based global law firm Diaz Reus announces that Florida’s Third District Court of Appeal has ruled that a wrongful death lawsuit against Palace Resorts and its affiliated companies should proceed in Miami. The lawsuit, brought by Diaz Reus on behalf of Texas resident Raine Chacko and her two young children, […]
Like everyone, we are closely monitoring the COVID-19 outbreak and the related impact on our construction clients. With the ever-changing environment related to the rapid spread of this virus, it is likely that many construction projects will be delayed or stopped based upon changes to the available workforce or government mandate. With the numerous associated […]
On March 12, 2020, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) sanctioned TNK Trading International S.A. (“TTI”), a subsidiary of the Russian energy company Rosneft, based on Executive Order (“E.O.”) 13850 authorizing sanctions on persons operating in certain sectors of the Venezuelan economy, including the oil sector. Specifically, OFAC sanctioned TTI for […]
QUESTION ONE – When representing a client with significant business activities in foreign jurisdictions, what are some key risk-related concerns that arise in a cross-border context and how can a parent company minimise such risk? The largest risk is protecting the parent company (or other subsidiaries) from exposing itself to liability for the debts and […]
Dear DRT Clients, Friends, and Family: As the COVID-19 continues to make headlines and affect our daily lives and schedules, we wanted to reassure you that we are taking measures to protect our clients and employees while minimizing undue disruptions to business. Health officials recommend social distancing as one effective measure to control the spread […]
On March 5, 2020, the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) sanctioned the Nicaraguan National Police (NNP) and three senior officials of the Government of Nicaragua for their alleged involvement in human rights abuses in that country. OFAC imposed these sanctions pursuant to Executive Order (E.O.) 13851 “Blocking Property of Certain Persons Contributing to the Situation in Nicaragua,” and the […]
Our factoring clients are constantly trying to expand their portfolios to capitalize on underexploited markets. One of those markets is healthcare receivables. Factors considering advancing on healthcare receivables almost always ask the same questions – Are there anti-assignment provisions relating to Medicare and Medicaid? How can we protect ourselves without the benefits of UCC § […]
A pending bill in the Florida Legislature could have some alarming implications for the construction industry. Proposed House Bill 897 (2020), and its companion Senate Bill 1422 (2020), would implement drastic changes to Chapter 713 governing lien rights for subcontractors. The supposed intent of this legislation is to protect homeowners from having to pay subcontractor […]