Does the Government Owe You Money? When to File An REA in Your Government Contract
COVID-19 Comeback Plan: Part III - How Banks Think About Loan Defaults: Lessons for Borrowers in Troubled Times
By effectively extracting data from contracts, organizations can gain valuable insights into their legal and financial obligations, opportunities for negotiation, and areas of risk, thereby making informed decisions that...more
A chapter 7 trustee-lessee’s failure to comply with postpetition, pre-rejection lease obligations does not automatically give the landlord an administrative expense claim, as some courts fashion alternative remedies on a...more
On August 1, 2024, the Centers for Medicare & Medicaid Services (CMS) released a final rule updating the Medicare inpatient prospective payment system (IPPS) for acute care hospitals and the Medicare prospective payment...more
RCW 39.04.360, effective June 6, 2024, sets forth protections and assurances of payment for contractors, subcontractors, and suppliers that perform undisputed changed or additional work on both public and private construction...more
In commercial transactions, the process of recovering debts owed by companies may sometimes necessitate legal intervention. Under Federal Decree-Law No. 42/2022 on Civil Procedure Law, specific procedures are outlined for the...more
On 23 April 2024, the European Parliament (EP) adopted its first-reading position and, in doing so, introduced amendments to the European Commission's (EC) proposal for a Regulation on late payment. In our update from last...more
Increasingly, buyers are turning to a new tactic to stem the tide of rising costs: Upstream buyers are demanding longer payment terms. The demands often come from the top (i.e., OEMs and Tier 1s) down and take many forms....more
The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more
On November 17, 2023, Governor Kathy Hochul signed a bill into law amending Sections 756-a and 756-c of the New York State Prompt Payment Act (N.Y. Gen. Bus. Law §756 (McKinney 2009)) governing restrictions on retainage and...more
Allen & Overy and international banking group Standard Chartered have today launched the first Guide to Payment Regulations for corporates and fintech customers navigating the evolving payments landscape in eight key markets...more
SDSP, LLC v. Attias, 2023 Pa. Super. Unpub. LEXIS 1518 - The Superior Court of Pennsylvania vacated a multimillion-dollar award to subcontractors arising from a payment dispute, and remanded the matter to the trial court...more
In 2022, the General Assembly enacted significant changes to Virginia Code §§ 2.2-4347, 2.2-4354 and 11-4.6 that mandated prompt payment by owners, contractors and subcontractors on public and private construction projects...more
One of the many legal consequences of Russia’s full-scale invasion of Ukraine in February last year was that businesses were faced with having to analyse the exact remit of sanctions laws and the extent to which they caught...more
The Armed Services Board of Contract Appeals (“ASBCA”) recently denied a contractor’s claim for additional compensation as the contractor failed to establish its work was constructively suspended or that its contract was...more
The shipment of goods through various complicated shipment schematics, in conjunction with commercial situations by which transportation and logistics contracting parties have ongoing relationships, often involves a series of...more
In Short - The Situation: Historically, creditors pursued by liquidators under the unfair preference regime could rely on a statutory set-off as a defence to the claim, reducing or eliminating their liability to repay...more
The SEC knows that it has powerful enforcement tools. The FCPA imposes two important requirements on issuers – keep accurate books and records and maintain internal controls to ensure that management’s accounting controls...more
On January 10, the Department of Education (DOE) announced a notice of proposed rulemaking (NPRM) to reduce the cost of federal student loan payments. ...more
The Virginia Supreme Court approved on September 19, 2022, Legal Ethics Opinion 1898, which permits a lawyer’s receipt of cryptocurrency as an advance payment for legal services. Notwithstanding the relative novelty of the...more
A new bill has been signed into law in Virginia that prohibits the use of contingent payment provisions on construction projects. The new law amends VA ST §§ 2.2-4354 and 11-4.6 and provides that “[p]ayment by the party...more
“Pay When Paid” or “Pay if Paid” clauses in subcontracts have long been a thorn in the side of subcontractors. If Governor Youngkin signs into law a new bill that passed in both houses of the Virginia General Assembly, those...more
In a decision welcomed by many practitioners in the United Kingdom and further abroad, the Supreme Court of the United Kingdom recently settled the law on the application of liquidated damages in circumstance where a contract...more
With its strategic location and significant natural resources, Malaysia is an internationally recognized investment-friendly jurisdiction with a significant construction industry. Malaysian law offers procedural safeguards...more
With the Hong Kong Development Bureau’s (DevB) contractual security of payment regime coming into effect from 31 December 2021 (the SOP regime), we now examine some important challenges which facing the Hong Kong construction...more
As everyone in the construction industry knows, timely payment is essential. However, the payment process can be complicated, with unexpected issues throwing plans off course. In their second webinar of 2021, Cohen...more