News & Analysis as of

Offsets

ERISA: Can a Court Invalidate the Social Security Offset Provision Because Benefits Were “Wrongfully Denied”?

You know that most ERISA plans, and most supporting insurance policies, have provisions that allow for an offset of Social Security disability benefits. Can the court invalidate these offset provisions because of...more

Maine Supreme Court Hears Oral Argument in Two Workers’ Compensation Matters Involving Old-age Social Security Offset and Medical...

by PretiFlaherty on

The Maine Supreme Court heard oral argument in two workers’ compensation cases on September 13, 2017. In Victor Urrutia v. Interstate Brands International, WCB 16-524, an Administrative Law Judge ordered that the employer...more

A new biodiversity regime for development in NSW: in a nutshell

by Dentons on

A new regime for biodiversity assessment will commence on 25 August 2017, changing the way in which biodiversity impacts are both assessed and addressed in the development and use of land throughout the State....more

5 Things to Know to Reduce Your Tax on Capital Gains

Although it is often said that nothing is certain except death and taxes, the one tax you may be able to avoid or minimize most through planning is the tax on capital gains. Here's what you need to know to do such planning...more

D.C. District Court Bucks the Trend and Rules for Hospital in Provider Tax Case

by Baker Ober Health Law on

Many states assess taxes against hospitals and other providers as a means of funding their Medicaid and other healthcare-related programs. The revenue generated by the taxes is used, with CMS’s approval, to fund Medicaid...more

Employers Beware – The Third Circuit Strictly Construes the FLSA Regulations to Prevent Taking Credit to Offset Overtime...

As employers prepare to implement the new federal Department of Labor regulations which, on December 1, 2016, will double the minimum salary required for many exemptions under the Fair Labor Standards Act (“FLSA”), employers...more

When a Policy Limits Offer is Not Enough: A Cautionary Tale of a Failure to Settle Case

by Cozen O'Connor on

In a recent unpublished decision, the California Court of Appeals upheld a $3 million judgment against an auto liability insurer that rejected proposed language in a settlement agreement, notwithstanding the insurer’s policy...more

Additional Regulatory Hurdles for Private Equity Advisers

by McCarter & English, LLP on

The private equity industry should carefully consider the implications of a recent Securities and Exchange Commission ("SEC") enforcement action. In it, the SEC, for the first time, sanctioned an SEC-registered private equity...more

SEC Fines Private Equity Adviser for Failing to Register as a Broker-Dealer

by Latham & Watkins LLP on

The action may have significant implications for PE advisers performing brokerage services; highlights SEC’s focus on advisers receiving transaction-based compensation. On June 1, 2016, the Securities and Exchange...more

ERISA: Court’s Short Checklist to Reduce Plaintiff/Claimant Attorney Fees

Attorney fees in ERISA cases continue to be a challenge. What happens when both sides can claim wins during a case? What is a reasonable hourly rate for Plaintiff’s attorneys?...more

FINRA Proposes Arbitration Rule Change to Permit Offset of Awards

Last week, FINRA sought approval from the SEC for a proposed change to the FINRA arbitration rules, under which monetary awards requiring the parties to pay each other damages would be offset, so the party owing the larger...more

Circuit Court Rules that Ambiguous Regulatory Requirements Cannot Give Rise to FCA Liability

by McGuireWoods LLP on

A recent decision from the United States Court of Appeals for the District of Columbia Circuit evaluated whether a regulatory requirement was sufficiently ambiguous that it precluded a finding of liability under the False...more

Is An Offset Allowed For Amounts Unrelated To The Claim Asserted?

by Morris James LLP on

The plaintiffs in Brace Industrial Contracting v. Peterson Enterprises (Del. Ch. Dec. 10, 2015) moved for partial summary judgment on the issue of whether the defendants could “self-help themselves to $3.457 million of the...more

New Tax Incentives for Early Stage Investment

by K&L Gates LLP on

On 7 December 2015, the Federal Government released an Innovation Statement which included important tax concessions aimed at making early stage investment more attractive. The concessions are expected to commence from 1 July...more

National Innovation & Science Agenda

by FPA Patent Attorneys on

The Federal Government yesterday released its much anticipated National Innovation and Science Agenda which proposes a series of tax amendments. Early Stage Venture Capital Limited Partnerships (ESVCLPs) and Venture...more

Beverage Distributors Company to Pay $160,000 to Settle EEOC Disability Lawsuit

Company Refused to Hire Applicant Because of Eye Impairment, Federal Agency Charged - DENVER - Beverage Distributors Company, a wholesale liquor distribution company in Colorado, will pay $160,000 and furnish other...more

Rectification in a Tax Context: The Intention Standard Prevails

A drafting mistake in an agreement can result in significant and unintended tax consequences. In the recent case of Baytex Energy Ltd. v. Canada (Attorney General) (Baytex), the Court of Queen’s Bench of Alberta (Court)...more

Proposed Budget Deal Would Add Medicaid Inflation Rebates for Generic Drugs

by Reed Smith on

As noted in our recent Health Industry Washington Watch blog post, outgoing House Speaker John Boehner and the Obama Administration have reached agreement on a two-year, $80 billion budget/debt-ceiling deal that includes...more

Pending Budget Deal Includes Medicare Sequestration Extension, Other Medicare/Medicaid Cuts

by Reed Smith on

Outgoing House Speaker John Boehner and the Obama Administration have reached agreement on a two-year, $80 billion budget/debt-ceiling deal that includes Medicare and Medicaid “offsets” to finance other spending. For...more

Third Circuit Decision Could Have Broad Implications For Sentencing In Federal Fraud Cases

Last week, the Third Circuit issued a decision that could have major ramifications for sentencing in federal fraud cases. United States v. Nagle dealt with a fraud perpetrated against the Department of Transportation’s...more

SEC Proposes Mandatory Incentive Compensation Clawback Rules

by Goodwin on

On July 1, 2015, the Securities and Exchange Commission proposed rules, consisting of new Rule 10D-­1 and related rule and form amendments, that would require clawbacks of incentive compensation received by executive officers...more

Changing the Rules in the Middle of the Game: Oregon Supreme Court Allows Prospective Modifications to Public Pension Benefits

by K&L Gates LLP on

The national debate on public pension plans is beginning to resonate in the court system. On April 30, 2015, the Oregon Supreme Court ruled on the constitutionality of two legislative amendments that modified certain benefits...more

N.C. Court of Appeals Addresses Common Affirmative Defenses In Commercial Foreclosure Context

by Womble Bond Dickinson on

A recent opinion from the North Carolina Court of Appeals addresses some common borrower defenses within the context of foreclosure and statute of frauds issues: compromise and settlement, accord and satisfaction, the...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update: November 2014

by Reed Smith on

This is a brief update on recent Pennsylvania tax developments. Does New Governor Mean More Tax Reform? In the recent gubernatorial election, challenger Tom Wolf (D) defeated incumbent Governor Tom Corbett (R)....more

Beveridge & Diamond Secures Favorable CARB Determination in Offset Investigation for U.S.’s Largest GHG Offsets Provider

by Beveridge & Diamond PC on

Attorneys in Beveridge & Diamond’s San Francisco office recently helped the largest developer of greenhouse gas (GHG) offset credits in the U.S., Environmental Credit Corp. (ECC), secure a favorable determination from the...more

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