Modification

News & Analysis as of

What does "will be insured" actually mean?

Balancing obligations to provide health and life insurance benefits to retirees with other legitimate business needs can be tricky. Although retirees depend on the benefits, employers may need to modify benefit plans for...more

Changes To Loan Notes: Good Faith Not Implied

In Dennis Edward Myers & anr v Kestrel Acquisitions Ltd & ors [2015] EWHC 916 (Ch), 31 March 2015, the High Court refused to imply an obligation of good faith into a term allowing modifications of loan notes. ...more

Does Rule 23(e) Require that Settlement Class Members Receive Notice of Modification to Cy Pres Remedy?

The United States District Court for the District of Columbia recently held that a modification to a settlement agreement was not subject to the procedural protections of Federal Rule of Civil Procedure 23(e) because it would...more

USPTO Announces Immediate Changes to AIA PTAB Page Limits

Responding to feedback from petitioners and patent owners, the USPTO disclosed a plan to revise the procedural rules governing post grant proceedings under the Leahy-Smith America Invents Act (“AIA”). USPTO Director Michelle...more

Post-grant proceedings after the America Invents Act

The America Invents Act (AIA) was passed several years ago. One of the biggest changes it made to the patent landscape was the options for modifying a patent after it was granted by the U.S. Patent & Trademark Office. Prior...more

Virginia General Assembly Addresses Fourth Circuit Decision to Uphold Statutory Cap on Recovery by Public Works Contractors for...

In Carnell Construction Corp. v. Danville Redevelopment & Housing Authority, 745 F.3d 703 (2014), the United States Court of Appeals for the Fourth Circuit upheld the trial court’s ruling that, without government approval,...more

GAO Recommends Better Data Analysis to Improve TARP Housing Programs

On October 6, the GAO released a report recommending that the Treasury Department improve its analysis of data it collects on HAMP. As of June, Treasury has disbursed only about one-third of the $38.5 billion in TARP funds...more

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

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

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

Modification Process in Massachusetts Divorce Cases

The modification process is a bit more streamlined than the divorce process, mainly because there is a lot less discovery. Since the property division portion of a divorce agreement or judgement is not modifiable, issues of...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

Modification, Change is Hard

I hope you all are enjoying this gorgeous weather, I love it! We have been very busy here since March with a number of modification cases, as the new Alimony Law allowed for a large group of payors to file for modification...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

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