On March 5, 2018, the Supreme Court issued a unanimous decision in U.S. Bank National Ass’n ex rel. CWCapital Asset Management LLC v.
The Bankruptcy Code provides bankruptcy trustees, debtors, and creditor committees with “avoidance powers” that allow them to set aside and recover certain transfers that a debtor made before filing for bankruptcy.[1] These avoidance powers are, however, limited by a number of exceptions enumerated in the Bankruptcy Code, including the securities safe harbor at § 546(e). Section 546(e) protects from avoidance any transfer “made by or to (or for the benefit of) . . .
Introduction
Under reforms commencing in July 2018, Australia will have new insolvency laws which will limit the exercise of contract rights to terminate for insolvency. Partners David McIntosh and Robyn Chatwood, explain how these reforms will impact the retail sector in Australia, including suppliers of goods and services and lenders.
Background
Under newly issued guidance, the IRS has made it easier for many tax-exempt organizations to restructure.
The IRS will now continue to recognize as exempt, those organizations that:
• change their structure from an unincorporated association to a corporation;
• reincorporate from one state to another;
In good news for liquidators, the Federal Court’s decision in Marsden (liquidator) v CVS Lane PV Pty Limited Re: Pentridge Village (in which Dentons acted for the liquidator) confirms that time will be extended for liquidators who are unable to bring voidable transaction proceedings within the relevant timeframe due to a lack of funding.
The case also has wider implications. It could be relied upon by liquidators to justify subsequent claims which could otherwise have been brought at an earlier stage if funding had been available.
Friendly societies, along with other mutual societies, are registered with and regulated by the Financial Conduct Authority under the Co-operative and Community Benefit Societies Act 2014 (the Act).
Introduction
Ministerial Decisions
Amending the Classification Guide of the General Budget of State (Annex 1), attached to the Executive Regulations of the Finance Law (MD 118/2008). Issued on 24 January 2018. Effective from the issue date.
Promulgating the Regulations on school assemblies. Issued on 25 January 2018. Effective from 11 February 2018.
Official Announcements