HCA Publishes Reasons for Confirming Validity of Holding DOCAs

The High Court recently released the reasons for decision in dismissing the appeal in Mighty River International Ltd v Hughes & Ors [2018] HCA 38. This decision confirms the validity of employing a certain form of deeds of company arrangement (“DOCAs”), known as a “holding DOCA” as a restructuring tool. The case centers around a company Mesa […]

James ConomosFounder and Principal Partner, James Conomos Lawyers

U.S. Supreme Court Denies Request for Stay of Ruling Requiring Nonprofit Donor Disclosure

The U.S. Supreme Court has rejected a request to stay a prior federal district court opinion that vacated a key Federal Election Commission donor disclosure regulation. As noted in an earlier Client Alert, that district court ruling was issued last month by Judge Beryl Howell of the U.S. District Court for the District of Columbia, […]

James P. (Jim) WehnerMember, Caplin & Drysdale, Chartered

Liability of a holding company for an insolvent subsidiary – David Foster featured on https://www.financialdirector.co.uk

Directors must be careful not to leave themselves open to possible claims by liquidators and administrators, says David Foster, Partner at Barlow Robbins Solicitors and a member of professional services network IR Global. This is a poignant question in the light of the wave of recent administrations and liquidations on the High Street. The general […]

David FosterPartner, Moore Barlow LLP

IRS Issues Guidance on Calculating Unrelated Business Income Tax

The Tax Cuts and Jobs Act changed the way tax-exempt organizations calculate their unrelated business taxable income (UBTI). No longer can organizations follow the rules used by taxable entities and aggregate income and deductions from all of their unrelated trades or businesses. Rather, new code section 512(a)(6) requires organizations to separately compute their UBTI for […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

IRS Issues Guidance on Calculating Unrelated Business Income Tax

The Tax Cuts and Jobs Act changed the way tax-exempt organizations calculate their unrelated business taxable income (UBTI). No longer can organizations follow the rules used by taxable entities and aggregate income and deductions from all of their unrelated trades or businesses. Rather, new code section 512(a)(6) requires organizations to separately compute their UBTI for […]

James P. (Jim) WehnerMember, Caplin & Drysdale, Chartered

SDNY Bankruptcy Court Enters Final Default Judgments Against Properly Served Foreign Defendants

By Kevin C. Maclay, Todd E. Phillips and Sally J. Sullivan Recently, in the Advance Watch bankruptcy, the Bankruptcy Court for the Southern District of New York ruled that a bankruptcy judge is authorized to enter a final default judgment in an adversary proceeding against a foreign defendant who failed to respond to a validly-served […]

Jeffrey A. LiesemerMember, Caplin & Drysdale, Chartered

SDNY Bankruptcy Court Enters Final Default Judgments Against Properly Served Foreign Defendants

By Kevin C. Maclay, Todd E. Phillips and Sally J. Sullivan Recently, in the Advance Watch bankruptcy, the Bankruptcy Court for the Southern District of New York ruled that a bankruptcy judge is authorized to enter a final default judgment in an adversary proceeding against a foreign defendant who failed to respond to a validly-served […]

James P. (Jim) WehnerMember, Caplin & Drysdale, Chartered

Federal District Court Vacates FEC Independent Expenditure Donor Disclosure Rule; Appeal Likely

Last week, a federal district court issued a ruling vacating a key Federal Election Commission donor disclosure regulation as inconsistent with the Federal Election Campaign Act of 1971, as Amended (“FECA”).  Although the court’s ruling has not yet taken effect and is likely to be appealed, it is a notable development in the long-standing fight […]

James P. (Jim) WehnerMember, Caplin & Drysdale, Chartered