News & Analysis as of

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Proskauer - Tax Talks

Final Regulations on Domestically Controlled REITs

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On April 24, 2024, the U.S. Department of the Treasury (“Treasury”) and the Internal Revenue Service (the “IRS”) issued final regulations on the definition of “domestically controlled” real estate investment trusts (“REITs”)...more

Vinson & Elkins LLP

The Texas Energy Fund Becomes Law. Now What?

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On Tuesday, November 7, 2023, Texas voters approved Proposition 7, a constitutional amendment creating the Texas Energy Fund (“TEF”). The TEF will provide electric infrastructure grant and loan programs established by Senate...more

Walkers

Central Bank announces its Macroprudential Policy Framework for Irish Property Funds

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As outlined in our previous advisory ‘Central Bank’s property fund proposals’, the Central Bank of Ireland (the “Central Bank”) has recently been consulting on two key proposals: a proposal to introduce leverage limits...more

McGlinchey Stafford

Federal Reserve Board Updates Regulation O FAQs

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On July 8, 2022, the Federal Reserve Board (“Board”) updated “Question 3” of its frequently asked questions (FAQs) regarding Regulation O, “Loans to Executive Officers, Directors, and Principal Shareholders of Member Banks.” ...more

Pillsbury Winthrop Shaw Pittman LLP

Establishing and Managing a Business in the UK 2022

Overseas investors are welcome in the UK. Save as set out below, there are no specific laws prohibiting foreign investment in the UK nor are there any business requirements for UK participation in the ownership or management...more

Lowenstein Sandler LLP

Risk of Personal Liability Despite Incorporation

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One of the fundamental principles of corporate law is that the owners, directors and officers of a corporate entity generally are not personally responsible for the entity’s debts. Without this insulation from personal...more

Goodwin

Delaware Court of Chancery Allows Stockholder Litigation to Proceed Against Viacom-CBS Over $30B Merger

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Delaware Court of Chancery Allows Stockholder Litigation to Proceed Against Viacom-CBS Over $30B Merger; Ninth Circuit Affirms Dismissal with Prejudice of Securities Class Action Against Tesla; Second Circuit Affirms...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

Goodwin on

In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Skadden, Arps, Slate, Meagher & Flom LLP

Sustainability-Linked Loans on the Rise Despite COVID-19

Pre-COVID-19, pressure from investors, stakeholders and regulators helped jump-start green financing. The onset of the pandemic brought a temporary chilling effect to the global economy, but because sustainability-linked...more

Farrell Fritz, P.C.

Transfer Of Funds between Related Entities – Indebtedness Or Something Else?

Farrell Fritz, P.C. on

A closely held business may come to our firm for any number of reasons. The owners may be selling the business, for example, or they may be thinking about spinning off a division. In some cases, the owners are considering the...more

Orrick, Herrington & Sutcliffe LLP

Cessione in garanzia del credito da finanziamento soci e postergazione ex Articolo 2467 CC

La sorte del rimborso dei finanziamenti erogati dai soci nelle società a responsabilità limitata è disciplinata dall'articolo 2467 del codice civile il quale prevede che il rimborso dei finanziamenti dei soci a favore della...more

Kramer Levin Naftalis & Frankel LLP

SEC Adopts ‘Loan Rule’ Amendments

On June 18, 2019, the SEC adopted final amendments (the “Amendments”) to the auditor independence rules set forth in Rule 2-01(c)(1)(ii)(A) of Regulation S-X (the “Loan Rule”). The Loan Rule identifies debtor-creditor...more

Patterson Belknap Webb & Tyler LLP

Claims Dismissed Against Successor Transfer Agent Where There Was No Showing Of A Duty Owed To The Investors

In Magna Equities II, LLC et al., v. Writ Media Group Inc., et al., No. 653808/2016, 2017 BL 115243 (N.Y. Sup. Ct March 30, 2017), Justice Peter Sherwood dismissed for lack of jurisdiction and failure to state a claim all...more

Dickinson Wright

Recent Tax Court Cases Serve As Reminder Of Tax Risks Of Shareholder Guarantees Of Loans To S Corporations

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Two recent Tax Court cases are reminders that shareholder guarantees of loans to an S corporation do not generally create basis that can be used by the shareholder to deduct losses. Under Internal Revenue Code...more

Pillsbury Winthrop Shaw Pittman LLP

China Strengthens Supervision on Offshore Chinese Yuan (RMB) Lending

In 2016 stabilizing the exchange rate of Chinese yuan (also known as RMB, the legal currency of China) was a critical challenge for Chinese government. Due to the recent staggering devaluation of RMB, the People’s Bank of...more

Bilzin Sumberg

Cancellation of CFC Loans to US Shareholders – Should the Service Get a Second Bite at the Apple?

Bilzin Sumberg on

The Service generally has three years after a return is filed to assess any tax due for that year. There are a number of exceptions to this general rule, such as where a taxpayer files a false return or omits more than 25...more

Winstead PC

Texas Supreme Court Hears Oral Argument on Legal Malpractice Case Involving Standing of Beneficiary of Trust

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On February 10, 2016, the Texas Supreme Court heard argument in a case that involves the issue of legal standing to sue when a trust is injured by the actions of a third party. In DLA Piper US, LLP v. Linegar, Chris Linegar...more

McDermott Will & Emery

Cœur Défense: the Chronicle of a Foretold Reform of the French Safeguard Proceedings

The end of a legal saga - On April 7, 2014, the Commercial Court of Paris put an end to the Coeur Défense’s legal saga by acknowledging the implementation of the two safeguard plans adopted for Heart La Défense (HoLD),...more

K&L Gates LLP

Competition Commission stops short of requiring Mandatory Rotation of Auditors

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As part of its ongoing investigation into the UK audit services market, the Competition Commission ("CC") has provisionally decided on a package of remedies that will require FTSE 350 companies to put auditing contracts out...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2013 Insights: Capital Markets

2012 was a robust year for both the U.S. leveraged loan and high-yield markets, including record-breaking deal volume for the latter. These conditions provided fertile ground for borrowers and issuers in U.S. markets to fund...more

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