News & Analysis as of

Corporate Taxes Creditors

Latham & Watkins LLP

Charging Ahead: Grappling With the Characterisation of Fixed and Floating Charges

Latham & Watkins LLP on

The characterisation of fixed and floating charges remains a complex area, not least with respect to new intangible asset types. The key distinction between a fixed and a floating charge is well established as a matter of...more

Farrell Fritz, P.C.

Virus To Economic Shutdown To Bankruptcy? Not Necessarily, But Be Prepared

Farrell Fritz, P.C. on

Bankruptcy Resurgent? The economic shutdown, and the ensuing recession, triggered by the COVID-19 pandemic have jeopardized the survival of many businesses and, in some cases, of entire industries. Notwithstanding the...more

Morgan Lewis

HM Revenue & Customs to Get Preferential Status as of 1 December 2020

Morgan Lewis on

With effect from 1 December 2020, the UK’s HM Revenue & Customs will be given preferential creditor status for certain taxes which a company has collected but failed to pay to HMRC on the date it enters insolvency. This was...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Troutman Pepper

Structuring U.S. Debt Facilities in Light of New IRS Rules

Troutman Pepper on

Until recently, the structuring of debt facilities for U.S. borrowers with foreign subsidiaries has been largely driven by IRS interpretations of section 956 of the Internal Revenue Code, which gave rise to significant tax...more

Farrell Fritz, P.C.

Debt vs. Equity: Form & Substance Matter

Farrell Fritz, P.C. on

Some lessons need to be repeated until learned. It’s a basic rule of life. Don’t tug on Superman’s cape; don’t spit into the wind; don’t pull the mask off that old Lone Ranger; and if you are going to make a loan, give it the...more

Burr & Forman

Discharge of Federal and State Income Taxes in Bankruptcy

Burr & Forman on

If an individual or business owes unpaid income taxes to the IRS, or to a state, federal bankruptcy laws may provide relief for some, if not all, of these taxes. Generally applicable to “older” federal and state income taxes,...more

Jones Day

EuroResource—Deals & Debt - March 2017

Jones Day on

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments...more

Farrell Fritz, P.C.

Shareholder Liability For Corporate Income Tax?

Farrell Fritz, P.C. on

Limited Liability - In general, the creditors of a corporation cannot recover the corporation’s debts from its shareholders—the shareholders enjoy the benefit of limited liability protection as a matter of state law....more

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