The European Court of Justice (the "ECJ") has ruled that, in certain circumstances, when a subsidiary company is wound up, its employees will transfer automatically to its holding company.
What happened?
Air Atlantic SA ("AIA") was a Portuguese company operating in the aviation sector. It had been providing charter (or non-schedule) flight services since 1985.
On 19 February 1993, AIA was wound up. During the winding-up, several of AIA's employees were dismissed as part of a collective redundancy.
It seems only fitting that recent decisions by the United States District Court for the Southern District of New York and its bankruptcy court regarding the nature of electricity should have sent, at least initially, a jolt through the energy community. Perhaps the Southern District court would lead the charge for one side or the other in an ongoing debate over whether electricity constitutes goods or services—a controversy that has potentially far-reaching implications (in bankruptcy cases, concerning the priority of claims of electricity providers, and, in ordinary transactions, for
On September 2, the FDIC issued its latest Quarterly Banking Profile. The Profile indicates that community banks and savings institutions reported an aggregate net income of $43 billion in the second quarter of 2015, the highest quarterly income on record. The FDIC attributed this rise in second quarter income to steady loan growth at most institutions along with a sharp increase in community bank earnings as compared to the second quarter of 2014.
Judgment of the Court of Appeal of Lisbon of 02-06-2015
Interpretation of the intentions of a commercial company – Attribution of communications by members of corporate bodies – Signatures
On July 21, Senators Blumenthal (D-CT) and Markey (D-MA) introduced legislation, the Security and Privacy in Your Car Act (“SPY Car”Act), that would protect drivers’ privacy while allowing them to remain connected to the growing technological advances in the automobile industry.
In 2009, to promote corporate restructuring, the MoF and the SAT jointly released Circular Caishui [2009] No. 59 to grant tax deferral treatment to qualified corporate restructuring transactions (recently modified by Circular 109, mentioned above, which expanded its scope).
In 2010, the SAT released Announcement [2010] No. 4, providing procedural guidelines to benefit from the tax deferral treatment.
NEW REFORM OF THE INSOLVENCY ACT CONTENTS INTRODUCTION 2 AMENDMENTS REGARDING REFINANCING AGREEMENTS 3 - NOTIFICATION OF THE START OF NEGOTIATIONS 3 - REFINANCING AGREEMENTS AND COURT APPROVAL 4 AMENDMENTS REGARDING COMPOSITION AGREEMENTS 4 - CONTENT OF THE COMPOSITION AGREEMENT 4 - QUORUM FOR THE CREATION OF THE CREDITORS’ MEETING AND CALCULATION OF MAJORITIES 5 AMENDMENTS REGARDING LIQUIDATION 5 AMENDMENTS REGARDING THE CLASSIFICATION OF THE INSOLVENCY PROCEEDINGS 6 TELEMATIC COMMUNICATIONS AND PUBLIC INSOLVENCY REGISTRY 7 LEGAL UPDATE I COMMERCIAL AND LITIGATION PRACTICE AREAS June 2015
财政部国家税务总局关于个人非货币性资产投资有关个人所得税政策的通知)
On March 30, 2015, the Ministry of Finance (“MoF”) and the SAT jointly released Caishui [2015] No. 41 (“Circular 41”) to expand nationwide the tax payment installment policy applicable in the Shanghai Free Trade Zone to income derived from non-monetary asset investment made by individuals.
Circular 41 defines non-monetary asset investment and includes the contribution of non-monetary assets to establish a new company, to participate in company capital increase, private placement of stock, stock exchange and corporate restructuring.
(财政部、国家税务总局关于进一步支持企业事业单位改制重组有关契税政策的通知)
Following the State Council’s call to introduce policies promoting corporate restructuring in Guofa [2014] No. 14, MoF and SAT released Caishui [2015] No. 37 (“Circular 37”) to exempt from deed tax the transfer of land use rights and building ownership rights in the following corporate transactions:
On March 31, U.S. Court of Appeals in the 11th Circuit concluded that the district court properly dismissed plaintiff’s FDCPA complaint, using the concept of judicial estoppel. Ward v. AMS Servicing, LLC, 2015 WL 1432982 (11th Cir. Mar.31, 2015). In this case, the court addressed whether the Defendant was incorrect in charging the Plaintiff a monthly mortgage amount agreed to in a consent order, rather than the amount stipulated in the Note.