Modification

News & Analysis as of

New Legal Guidance For Modifying Arbitration Agreements

Employers have had some reluctance to expressly reserve the right to modify arbitration agreements in light of arguments that the agreements might be found illusory and unenforceable. Last week, the Second Appellate District...more

FCA Guidance on Modification of the Funds Under Management Rule for AIFMs

The Financial Conduct Authority (FCA) has issued guidance on the application procedure for modifying the “funds under management” rule. This modification will allow alternative investment fund managers (AIFMs) that use...more

Legislative Update

Construction legislation in the 2013 session was much different from 2011. In 2011 many new construction related laws were passed including governance of indemnities and mechanic’s liens. In 2013 many significant...more

Making Home Affordable Supplemental Directive

On July 30, the Obama Administration released a supplemental directive providing updates to the Making Home Affordable program, specially with respect to the Second Lien Modification Program (2MP)....more

Rogers Towers: The Perils of Post-Judgment Pre-Sale Modifications

A reasonable workout often remains the prudent choice for defaulted commercial real estate loans even in the context of a pending (or nearly completed) foreclosure action....more

Should You Modify Your Child Support Obligation?

In order to qualify for modification of your child support obligation, Arizona Revised Statute §25-327 requires changed circumstances that are considered both substantial and ongoing. Typically, from a mathematical point of...more

The Proliferation of Trust Decanting Statutes Continues

Irrevocable trusts are now subject to varying degrees of amendment by court approved modifications, trust protector actions, private settlement agreements, and, of course, decanting....more

California Public Utilities Commission Adopts Terms of Standard FIT Contract and Revised Tariffs

On May 23, 2013, the California Public Utilities Commission (CPUC or Commission) approved Decision 13-05-034 (Decision), which adopts the terms of a standard contract and revised tariffs for California's renewable Feed-in...more

Red Notice removal by INTERPOL member countries and Egypt's slow request for modification of Sayed Ahmed Abdel Latif's Red Notice

Last week, INTERPOL issued a press release confirming that it had modified the Red Notice against Sayed Abdel Latif, and that the modification was made at the request of Egypt's National Central Bureau ("NCB") in Cairo. The...more

Bankruptcy Court Permits Patriot to Modify Union Agreements

Patriot Coal became the third major debtor in the last year to modify benefits or reject a CBA under sections 1113 and 1114 of the Bankruptcy Code. Following similar rulings in the Hostess and AMR Corporation bankruptcies,...more

When Does Alimony Become Unfair?

Everyone knows the horror story of someone who was ordered to pay what was considered unfair alimony. ...more

Patriot Coal Authorized to Modify Union Obligations

On May 29, Patriot Coal (Patriot) became the third major debtor in the last year to receive court approval to modify union benefits or reject a CBA under sections 1113 and 1114 of the Bankruptcy Code....more

2013 and 2014 under the Affordable Care Act - Updated as of May 14, 2013

This is an update on an earlier Client Advisory on this subject, with updates to reflect recently issued guidance. Employers should consider the following checklist of new requirements as the nation moves ahead with...more

Freddie Mac Allows Early Streamlined Modifications; Fannie Mae Issues Streamlined Modification FAQs

On May 13, Freddie Mac announced in Bulletin Number 2013-7 that servicers can immediately begin offering modifications under the streamlined modifications initiative announced by the FHFA in March....more

ITC Investigates Economic Impact Of Proposed Modifications To NAFTA Rules Of Origin

The U.S. International Trade Commission ("ITC") has initiated an investigation into the potential economic impact of proposed modifications to the North American Free Trade Agreement ("NAFTA"). ...more

Sequestration and its Impact on the Construction Industry

Pursuant to the Budget Control Act of 2011, sequestration is the process by which automatic across-the-board spending cuts are being imposed on government programs. Because Congress was unable to reach an agreement by its...more

2014 Final Call Letter: CMS Raises Medicare Advantage Rates but Foreshadows Other Significant Program Changes

After receiving many comments on its Draft Call Letter, CMS published its Contract Year 2014 Final Call Letter on April 1, 2013. The Final Call Letter addresses a wide variety of issues that will affect all parties involved...more

SEQUESTRATION: Preparing Government Contractors for Uncertainty, Cut-Backs and Contract Termination

Current reports from Congress suggest that “sequestration” will likely take effect as early as March 1, 2013. The sequestration is a key part of the Budget Control Act of 2011, which requires the federal government to...more

So how long is long enough to prevail on a modification application?

Well, depending on what county your case is venued in, it depends. Recently in Foley v. Foley, the defendant, ex-husband, filed an appeal from an Order from the Family Court that denied his motion to reduce his alimony...more

Modifying Your Divorce without the Court? Think Again!

Out of Court modifications are risky business and unenforceable....more

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