ArticleThe Continuing Saga Of Mortgage Errors: Not All "Boo-Boos" Are FatalEven minor errors in a mortgage can result in avoiding the mortgage in a bankruptcy. United StatesReal Estate and ConstructionPepper Hamilton LLP
ArticleFATCA Withholding And Reporting Deferred For Six MonthsIn response to taxpayer concerns about the practicality of meeting certain FATCA compliance timeline dates, the IRS has extended some of those dates and made certain conforming changes. United StatesTaxPepper Hamilton LLP
ArticleCFPB Issues Final Ability To Repay Rule And ‘Qualified Mortgage’ StandardOn January 10, the Consumer Financial Protection Bureau issued a final rule, as mandated by provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.United StatesConsumer ProtectionPepper Hamilton LLP
ArticleDon't Short Before The Deal, SEC Reminds Hedge Funds And Buyside FirmsOn September 17, 2013, the Securities and Exchange Commission announced enforcement actions against 23 investment firms for violations of Rule 105 of SEC Regulation M.United StatesCorporate/Commercial LawPepper Hamilton LLP
ArticleU.S. District Court Rebuffs ICI Challenge To CFTC Rule 4.5 AmendmentsOn December 12, 2012, the U.S. District Court for the District of Columbia released its decision in Investment Company Institute v. U.S. Commodity Futures Trading Commission, rebuffing the Investment Company Institute (ICI)’s and U.S. Chamber of Commerce (Chamber)’s efforts to overturn recently adopted Commodity Futures Trading Commission (CFTC) amendments to CFTC Rules 4.5 (exclusion from definition of commodity pool operator) (CPO) and 4.27 (CPO and CTA reporting requirements) (the Amended RulUnited StatesFinance and BankingPepper Hamilton LLP
ArticleLong Time Coming: United States Wins First Extradition On Antitrust ChargeThe U.S. DOJ announced its first-ever successfully litigated extradition of a foreign citizen to the United States in a federal criminal antitrust case.United StatesAntitrust/Competition LawPepper Hamilton LLP
ArticleIRS To Reinvigorate Its QETP Program In Effort To Crack Down Harder On Independent Contractor MisclassificationThe Chief of the IRS’s Employment Tax Policy section, John Tuzynski, told lawyers on May 10, 2013 at an American Bar Association’s meeting of tax lawyers in Washington, D.C. that the IRS will soon be pursuing more cases involving independent contractor misclassification through its Questionable Employment Tax Practices program.United StatesEmployment and HRPepper Hamilton LLP
ArticleNew Jersey Court Approves Contract That Limits Employee’s Time To Bring Discrimination ClaimThe Superior Court of New Jersey ruled that an employee is bound by his agreement to a six-month limitation period to file any suit against his employer.United StatesEmployment and HRPepper Hamilton LLP
ArticleMortgage Liens: Can Liens Be "Stripped Off" (Vs. "Stripped Down") In A Chapter 7 Case?A discussion on a recent case, where the bankruptcy court held that a totally underwater junior lien on a residential property could be "stripped off" in a Chapter 7 case, thus choosing to follow a Second Circuit case that addressed the issue in a Chapter 13 case.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleSale "Free And Clear": Adequate Protection Of Nothing Is NothingAfter substantially all of the debtors’ assets were sold in a bankruptcy sale, a secured lender and a state tax authority made competing claims for turnover of sale proceeds.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleStudent Loan Discharge Upheld Under Clear-Error StandardIn a recent decision, the U.S. Court of Appeals for the Ninth Circuit reversed an Oregon district court judgment in Hedlund v. Educational Resources Institute, No. 12-35258, D.C. No. 6:11- cv-6281-AA, finding that court's de novo review of a Section 523(a)(8) proceeding to be improper and holding that the bankruptcy court's good-faith finding should be reviewed solely for clear error. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleMilitary Government Contractor And Health Care Network Sued For Independent Contractor MisclassificationOn October 2, 2012, a class action lawsuit was filed against MHN Government Services and its parent, Managed Health Network (MHN), claiming that the government contractor misclassified over 1,200 employees as independent contractors and, as a result, failed to pay massive amounts of overtime pay required under the federal wage and hour law.United StatesEmployment and HRPepper Hamilton LLP
ArticleThe 2014 Budget and Independent Contractor Misclassification: "Preventing and Detecting Misclassification of Employees as Independent Contractors" Remains a Funding Highlight in President Obama’s Newest BudgetOne of the "funding highlights" listed in the section of the Budget covering the Department of Labor is to "Maintain support for agencies that protect workers' wages, benefits, health and safety, and invest in preventing and detecting the misclassification of employees as independent contractors." United StatesEmployment and HRPepper Hamilton LLP
ArticleOregon Court Of Appeals Holds General Contractor Cannot Offset Costs Of Repairing Subcontractor’s Defective Work After Subcontractor Is Terminated "For Convenience" Without An Opportunity To CureThis action arose from a payment dispute between a general contractor, Catamount Constructors, Inc., and one of its subcontractors, Steelwood Construction, Inc. United StatesReal Estate and ConstructionPepper Hamilton LLP
ArticleFSOC Recommends And Seeks Comment On Money Market Mutual Fund ReformOn November 13, the Financial Stability Oversight Council (FSOC) voted unanimously to advance its report entitled "Proposed Recommendations Regarding Money Market Mutual Fund Reform."United StatesFinance and BankingPepper Hamilton LLP
ArticleSEC And European Securities Regulators Enter Into Cooperation Agreements To Share Information Regarding Fund ManagersThe Securities and Exchange Commission recently entered into a memorandum of understanding with various member states of the European Union and European Economic Area formalizing an agreement that facilitates the sharing of information and other assistance between the regulators in relation to private fund managers. United StatesFinance and BankingPepper Hamilton LLP
ArticleFinding Bank Fraud Without Defrauding Bank – Supreme Court Grapples With Reach Of Federal Criminal Bank Fraud StatutePetitioner Kevin Loughrin stole checks that he altered and used to purchase goods from Target, which he then returned to Target for $1,184.United StatesFinance and BankingPepper Hamilton LLP
ArticleNew Jersey Enacts New Rebuilding Rules In Response To Superstorm SandyA discussion on the impact of Superstorm Sandy on New Jersey's real-estate sector. United StatesReal Estate and ConstructionPepper Hamilton LLP
ArticleRev. Proc. 2014-24 Provides Taxpayers Relief When Missing Form 1122 On Joining A Consolidated GroupOn March 10, the IRS released Revenue Procedure 2014-24, establishing the rules for when the IRS will automatically determine that a subsidiary corporation that had failed to file a properly and timely executed Form 1122, Authorization and Consent of Subsidiary Corporation To Be Included in a Consolidated Income Tax Return, will nonetheless be included in the affiliated group.United StatesTaxPepper Hamilton LLP
ArticleBeware And Be Smart: California Remains A Danger Zone For Resale Price RestrictionsMost recently, the U.S. District Court of the Central District of California denied a retailer’s motion to dismiss vertical price fixing claims filed under the state’s Cartwright Act and Unfair Competition Law. United StatesAntitrust/Competition LawPepper Hamilton LLP