Tax Law, Business Organization, Bankruptcy

California Court Finds Securitization Entities Subject to California Income Tax

by Marty Dakessian, Mike Shaikh, Kyle O. Sollie | Reed Smith on 5/13/2013

A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax Board, San Diego Superior Court Judge Joel Pressman held that...more

Avoiding “Responsible Person” Liability For Payroll and Sales Taxes

by Chad Williams III | Saul Ewing LLP on 1/25/2013

One benefit of conducting business through a corporation, limited liability company or other limited liability entity is the “shield” from personal liability that these entities generally afford stockholders, directors and...more

Perspectives on Real Estate - Fall 2012

by Pillsbury Winthrop Shaw Pittman LLP on 12/2/2012

In This Issue: - Energy Consumption Data Reporting in California – AB 1103 and 531 - Real Estate and Construction Risk Management: Tips to Ensure Your Status as an Additional Insured - Attention: New Foreign Tax...more

Court Finds Exigent Circumstances Warrant Appointment of Receiver for an Insolvent, Closely Held Corporation

by Katten Muchin Rosenman LLP on 3/27/2012

The Delaware Chancery Court recently found that exigent circumstances necessitated the appointment of a receiver for an insolvent company under section 291 of the Delaware General Corporation Law (DGCL). The insolvent company...more

Estate of Badii ex rel. Badii v. Metropolitan Hospice, Inc., C.A. No. 6192-VCP (Del. Ch. Mar. 12, 2012) (Parsons, V.C.)

by Potter Anderson & Corroon LLP on 3/19/2012

In this memorandum opinion, the Court of Chancery appointed a receiver for an insolvent corporation deadlocked over how to discharge a tax lien. Defendant Metropolitan Hospice, Inc. (“MHI”), a closely held corporation,...more

Advantages of Chapter 11

by Pullman & Comley, LLC on 3/15/2012

Companies that are facing seemingly insurmountable financial difficulties can often turn to chapter 11 for relief. Some of the key advantages of filing chapter 11 to successfully resolve a company’s financial woes...more

Enactment of HMRC’s Extra-Statutory Concession C16

by McDermott Will & Emery on 2/13/2012

HM Revenue & Customs (HMRC) has limited discretion to make concessions in relation to statutory tax provisions. Following a recent judicial decision suggesting that this discretion was more limited than had been...more

Crown Wins GAAR Case in the Supreme Court of Canada: Copthorne Holdings Ltd. v. The Queen

by Dentons on 12/19/2011

On December 16, 2011, the Supreme Court of Canada released its latest General Anti-Avoidance Rule (GAAR) decision in Copthorne Holdings Ltd. v. Canada. The appeal was heard on January 21, 2011 by all nine of the Justices...more

Nonprofit Strategic Partnerships: Building Successful Ones and Avoiding the Legal Traps

by Venable LLP on 10/4/2011

Overview * Joint Activities – Joint Programs – By Contract – Subsidiary Entities – More Complex • LLCs • Corporations * Promotional and Fundraising Affiliations – Corporate...more

Discharging 'Responsible Person' Liability For California Sales Taxes

by Mark Sharf on 9/13/2011

The Ninth Circuit recently ruled that California Sales Taxes are "on or measured by income or gross receipts." In so doing, the Ninth Circuit outlined precisely what an owner (or other 'responsible person') must do in order...more

Rev.Pontos de Vista-2011-Real Estate and Companies Bankruptcy

by Jose Saramago on 8/15/2011

In an interview to the Magazine "Pontos de Vista", I have tried to covered various and actuals topics, ie, the real estate appraisal, subject in focus after the memorandum signed between Portuguese Governement, IMF and...more

Section 332 Liquidation Of Insolvent Subsidiary Via Conversion To Disregarded Entity

by Charles (Chuck) Rubin on 4/25/2011

A corporation converted its wholly owned subsidiary to a disregarded entity via a check-the-box election. At the time, the subsidiary was insolvent. The parent corporation sought a worthless stock loss under Code...more

International News: Focus on Restructuring - Spring 2011

by McDermott Will & Emery on 4/13/2011

Contents: In This Issue By Hugh Nineham 3; Focus On International Restructuring Asset-Based Lending: An Alternative to Restructuring By Gary Rosenbaum and Adam Spiegel 4; New OECD Tax Guidelines Applicable to Business...more