Transfers

News & Analysis as of

Streamlined Procedures for Authenticating Documents in Brazil

Brazil has become the 111th contracting state to the 1961 Hague Convention Abolishing the Requirement of Legalization for Foreign Public Documents (the "Convention"). The text of the Convention was approved by the Brazilian...more

Unauthorized Transfers of Receivership Property: Void, Voidable or Ok?

Question: Unauthorized Transfers of Receivership Property: Void, Voidable or Ok? Answer: In a recent unpublished bankruptcy appellate panel decision (In Re Domum Locis, LLC, 2015 WL 4697747 (9th Cir. BAP 2015)), the BAP...more

Suggested Procedures and Possible Options for Accepting Minors as Investors in EB-5 Investment Funds

The delay in processing EB-5 immigrant visas caused by the increasing waiting line commonly referred to as “retrogression” is causing an increase in demand by parents in China to have their minor children named as the primary...more

FHFA Request for Input on Single-Family Credit Risk Transfer – Certain Salient Matters

In its request for input on single-family credit risk transfer RFI, FHFA expresses a strong preference for large, economically efficient, repeatable transactions, as well as programs that create a level playing field for both...more

Hydro license transfers and fitness

U.S. hydropower regulators have approved the transfer of the license for an Idaho hydroelectric process, despite an argument that the transferee is not fit to operate the project. At issue is the Smith Creek Project, No....more

Tax Lien on Me: Fifth Circuit Holds the Transfer of a Tax Lien is not Subject to the Truth in Lending Act

On April 29, 2016, the United States Court of Appeals for the Fifth Circuit held that the transfer of a tax lien does not constitute an extension of “credit” subject to the protections of the Truth in Lending Act (“TILA”). ...more

The Pennsylvania Supreme Court Expands Application of Transfer Between Entities Act

Central Westmoreland Career and Technology Center Education Association v. Penn-Trafford School District (Pa. Supreme Court, decided February 16, 2016). The Pennsylvania Supreme Court held that paragraph (b.1) of the...more

Till Death Do Us Part? How to Deal With Celebrity Publicity Rights When That Celebrity Passes

The tragic death of renowned recording artist Prince left many reminiscing about his meticulously crafted public image. In life, the law allowed Prince to control the commercial exploitations of his image.  At death, however,...more

UK Financial Regulatory Developments - May 2016 #3

FCA extends COBS 13 and 14 modification by consent - FCA has published a revised direction to extend the modification by consent of its Conduct of Business Sourcebook (COBS) in relation to pension schemes. The...more

Blog: Part VII Transfers: UK Court makes an order affecting a New York excess & surplus lines trust

The Copenhagen Reinsurance Company (CopRe) asked the UK High Court to make an Order sanctioning the intra-group transfer of the whole of its (re)insurance business to the Marlon Insurance Company (Marlon). Each of CopRe and...more

Quebec Budget Presents Significant Proposals for Duties on Transfers of Immovable Properties

On March 17, 2016, Quebec’s Minister of Finance unveiled the 2016-2017 provincial budget (Budget) in which significant proposals to the system of duties on transfers of immovable properties were announced. This bulletin...more

Industry Associations Publish Format for Information Statement Under EU Securities Financing Transactions Regulation

A form of information statement for usage by collateral takers was jointly published by five industry associations. This is aimed at facilitating compliance with disclosure requirements under the European Union's Securities...more

Fourth Circuit Finds Disguised Sale of VA Land Conservation Tax Credits

In Route 231, LLC v. Commissioner, 117 AFTR 2d 2016-XXXX (4th Cir. 2016), the U.S. Court of Appeals for the Fourth Circuit held that certain funds received by the taxpayer constituted income from the sale of Virginia land...more

Changes on the horizon: Transfers and early exit charges

In light of concerns about whether there are barriers preventing people from accessing the new DC flexibilities, in July 2015 the Treasury issued a consultation looking at early exit charges and how the transfer process could...more

Deadline Approaching for Reporting 2015 ISO Exercises and ESPP Transfers

Section 6039 of the Internal Revenue Code requires corporations to provide information statements to employees (including former employees) and information filings to the IRS regarding exercises of incentive stock options...more

FERC dam license transfers, death and estates

What happens when an individual person dies holding a Federal Energy Regulatory Commission license for a hydroelectric project? While their will may specify an heir for the dam and project works, the process of inheriting a...more

California’s Latest Attack on Franchise Industry Goes Into Effect

A new California law (AB 525, effective January 1, 2016) makes it harder for franchisors to terminate defaulting franchisees, requires franchisors to buyout franchisees in some cases, and adds new burdens for evaluating...more

IRS Releases January 2016 Interest Rates

The 7520 rate for January 2016 will increase to 2.2%. The January 2016 Applicable Federal Interest Rates can be found... Section 1274.-- Determination of Issue Price in the Case of Certain Debt Instruments Issued...more

MoFo Tax Talk - Volume 8, No. 3

Final and Temporary Dividend Equivalent Regulations Issued – Some Good, Some Bad, And Some Ugly: On September 17, 2015, the Internal Revenue Service (“IRS”) released final and temporary regulations under Section 871(m),...more

Focus on Tax Strategies & Developments - October 2015

Regulatory Developments Under § 367 Affecting Transfers of Appreciated Property to Foreign Corporations - Introduction: On September 14, the U.S. Department of the Treasury (Treasury) and the Internal Revenue...more

Oil Supplier Appeals Conoco’s Right To Buy Stake In Refinery Unit

In a long-standing dispute between Venezuelan state-owned Oil Company Petroleos de Venezuela SA (“Petroleos”) and ConocoPhillips, a New York district court judge upheld ConocoPhillips’ acquisition of a 50% stake in a Texas...more

Illinois Appellate Court Decisions Addresses Important Student Discipline and Employment Issues for Public Schools

Earlier this month, the Illinois Appellate Court (First District) issued an opinion addressing a number of important student discipline and executive employment issues. Because the Appellate Court agreed with the trial court...more

Proposed Regulations Tighten Outbound Transfers of Foreign Goodwill

Yesterday, the IRS issued proposed regulations that eliminate the “foreign goodwill exception” under the Section 367(d) regulations and also limit the scope of property that is eligible for the so-called “active trade or...more

CHAPS and CREST settlement days to be extended in summer 2016

I bring good news from the Bank of England. Whether you have been up all night trying to close a £1 billion securities transaction for your client, or you are buying a house and there’s a last minute snag, the deadline for...more

Bankruptcy Avoidance Litigation Part I — Do I Really Have to Give That Payment Back?

(Part one in a two-part series on avoidance litigation in bankruptcy cases) While initial consumer and commercial bankruptcy filings have, in recent years, ebbed in the wake of the historic highs of the Great Recession,...more

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