Extension of FATCA enrolment and reporting deadlines for 2015 The deadlines for BVI Reporting Financial Institutions to enrol with, and report to, the BVI International Tax Authority (the “BVI Tax Authority”) have been extended.

On May 26, 2015, in Wellness International Network Ltd. v. Sharif, No. 13-935, 575 U.S. __ (2015) (the “Opinion”), the Supreme Court of the United States clarified bankruptcy courts’ ability to hear and decide issues related to bankruptcy cases, holding that (1) bankruptcy courts possess constitutional authority to adjudicate matters with the parties’ consent; and (2) such consent may be express or implied, so long as it is knowing and voluntary. The Opinion aids bankruptcy courts and litigators by clarifying the scope of bankruptcy courts’ authority following Stern v. Marshall, 131 S. Ct.

This article provides a reminder of the impending deadlines and action that is required for those BVI entities that are classified as “Foreign Financial Institutions” for the purposes of FATCA. No action is required for BVI entities that are not Foreign Financial Institutions. This update supplements our previous alert of 3 November 2014 entitled “Impact of FATCA on BVI entities”.

Continuing its trend of issuing important decisions that define the scope of private actions under the securities laws, the U.S. Supreme Court recently issued its decision in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund, which addressed how statements of opinion and belief are treated for purposes of securities claims under Section 11 of the Securities Act of 1933.

Although once an afterthought on the M&A landscape, in recent years appraisal rights have become a prominent topic of discussion among dealmakers. In an earlier M&A Update we discussed a number of factors driving the recent uptick in shareholders exercising statutory appraisal remedies available in cash-out mergers.

The deal team was chosen from more than 250 participating companies to receive this award.

On February 23, 2015, Judge Mary C. Jacobson of the New Jersey Superior Court for Mercer County held that Governor Chris Christie’s line-item veto of remedial funding for public-employee pensions violated those employees’ contractual rights to such funding. Burgos v. State, No. MER-L-1267-14 (N.J. Super. Ct. Law Div. Feb. 23, 2015).

Global Distress Signal takes an in-depth look at: Recent developments in U.S. cross-border insolvency cases, including important court decisions that could significantly impact both U.S. and non-U.S. clients and practitioners Emerging trends in global cross-border insolvency, as exemplified by developments in the U.S.

In a recent opinion, the Privy Council has given definitive guidance on the operation of the statutory scheme in the British Virgin Islands (“BVI”) for the rectification of share registers, particularly in the context of applications to serve parties out of the jurisdiction.

On February 2, 2015, Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware held that the venue choice of embattled debtor Caesars Entertainment Operating Company (“CEOC”) was “entitled to just enough deference” to support a finding that, in the interest of justice, CEOC’s voluntary case and an earlier-filed involuntary case should proceed in CEOC’s chosen venue rather than the venue of the involuntary case. In re Caesars Entm’t Operating Company, Inc., Case No. 15-10047 (KG) (Bankr. D. Del. Feb. 2, 2015).