Navigating Russia Sanctions
Private Equity and Delaware Law – Part One
The Tax Court recently held that a partner had zero basis in a contributed promissory note following a retroactively filed entity classification election. A partner who merely contributes a promissory note to a partnership...more
Les actions d’une SAS acquises par une société holding d'un dirigeant fondateur dans le cadre d’une recapitalisation revêtent le caractère de titres de participation, ouvrant droit au régime d’imposition au taux de 0 % prévu...more
The U.S. Basel III Endgame Reproposal: Analysis of the Securitization Framework - On March 19, 2026, the Board of Governors of the Federal Reserve System (“FRB”), the Office of the Comptroller of the Currency (the “OCC”),...more
In December 2025, Mexico’s two largest ultra-low-cost carriers (ULCCs) – Volaris and Viva Aerobus – announced an agreement to combine their holding companies in a transaction structured as a merger of equals. The combined...more
On February 12, 2026, the Düsseldorf Local Division (LD Düsseldorf) of the Unified Patent Court (UPC) granted a preliminary injunction against a number of group companies, including entities based in the Cayman Islands and...more
Le Conseil d’État juge que la cession par une filiale de son principal actif à sa société mère, contre un crédit-vendeur compensé ultérieurement par une distribution de dividendes exonérée selon le régime des sociétés...more
Executive Summary: The OFAC 50 Percent Rule is a foundational doctrine of U.S. sanctions enforcement. It provides that any entity owned, directly or indirectly, 50 percent or more in the aggregate by one or more blocked...more
When emerging companies expand outside of their home country, they’ll often create subsidiaries in the new jurisdictions for administrative, tax and legal purposes....more
Returning for our third year in Tokyo: Navigating New Heights - Join us in Tokyo for insights shaping the investment funds industry in 2026 - We are pleased to return to Tokyo for the third edition of Fundamentals...more
OVERVIEW - New approval and notification requirements for transactions in the German banking sector are expected to come into force on 1 April 2026 as a result of the BRUBEG (Banking Directive Implementation and...more
Le 2 février 2026, le projet de loi de finances pour 2026 (le « PLF 2026 ») a été considéré comme définitivement adopté dans le cadre de la procédure de l’article 49.3 de la Constitution. Cette version définitive du PLF 2026...more
La Cour administrative d’appel de Lyon juge qu’une société holding qui a exposé des frais liés à des acquisitions de titres de participation réalisées par ses filiales n’était pas tenue de les refacturer à ces dernières dès...more
Asset-based transportation is a high-risk high-capital business. Every operator is well aware of the potential nuclear verdict risk for casualty incidents. Every operator is also well aware of every penny invested in growing...more
Subpart F income requires U.S. shareholders of controlled foreign corporations to report certain categories of foreign income — even when no distribution is made. This article explains how Subpart F works, the types of income...more
On November 14, the Oregon attorney general announced it reached a settlement requiring a real estate holding company to release all homeowner benefit agreements and associated liens on Oregon properties and restore full...more
La cour administrative d’appel de Lyon juge que l’administration fiscale a correctement appliqué l’article 150-0 B ter du Code général des impôts (« CGI ») en estimant qu’une opération d’acquisition de titres antérieure à la...more
On November 3, 2025, Samsung Biologics announced the completion of the spin-off of its investment and subsidiary management business unit, and the establishment of Samsung Epis Holdings, an investment holding company that...more
The Federal Reserve has issued guidance—including template term sheets—on the process for mutual banking organizations, such as mutual holding companies, to issue capital instruments that qualify as regulatory capital. The...more
On 19 September 2025, the UAE Federal Tax Authority (FTA) issued a public clarification (Clarification) regarding the treatment of family wealth management structures under the UAE Corporate Income Tax (CIT) Law....more
As a restaurant owner in New York, you face complex financial and legal challenges that go beyond typical business risks. Along with operational responsibilities, you are personally exposed to employment-related claims,...more
On May 30, 2025, Assembly Bill No. 239 (AB 239) was signed into law by Nevada Governor Joe Lombardo following its approval by the Nevada State Legislature. AB 239 amends the Nevada Revised Statutes (NRS) applicable to...more
This chapter of The Encyclopaedia of Prudential Solvency discusses the prudential solvency regime in the United States. The US regulatory framework is defined by its state-based approach, whereby each state’s department of...more
Earlier this year, noting “the recent increase in the number of reciprocal exchanges being formed and challenges in assessing the fairness and reasonableness of attorney-in-fact fees being charged to the newly formed...more
Life sciences companies (particularly early stage companies) may be attracted to an LLC holding company structure as an alternative to a typical C corporation structure to maximize both the purchase price paid by a future...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more