Document(s) published by this organization: 467
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|U.S. Further Lifts Limits on Transactions Incident to Exports to and from Burma (Myanmar)|
Sean Thomas Boyce, Laura Fraedrich, Michael P. (Mike) Gurdak, Fahad A. Habib, D. Grayson Yeargin; Jones Day;
June 16, 2016, previously published on May 2016On May 17, 2016, the U.S. Department of the Treasury's Office of Foreign Assets Control ("OFAC") announced the first significant amendments to its Burmese Sanctions Regulations, 31 C.F.R. Part 537 ("BSR"), since February 2013. Specifically, OFAC announced that, effective on May...
|DOL Mandates 100% Increase in Minimum Salary to Satisfy Fair Labor Standards Act White Collar Overtime Exemptions|
Fred W. Alvarez, Craig S. Friedman, Michael J. Gray, Brian M. Jorgensen, Teresa R. Rodela; Jones Day;
June 16, 2016, previously published on May 2016On May 18, 2016, the U.S. Department of Labor ("DOL") issued its final rule updating and revising the overtime exemptions for executive, administrative, and professional employees under the Fair Labor Standards Act ("FLSA"), 29 U.S.C. § 201, et seq. (the "Final...
|First Impressions: Third Circuit Rules That a Terminated Collective Bargaining Agreement May Be Rejected Under Section 1113|
Mark G. Douglas, T. Daniel (Dan) Reynolds; Jones Day;
June 15, 2016, previously published on May/June 2016In In re Trump Entm’t Resorts UNITE HERE Local 54, 810 F.3d 161 (3d Cir. 2016), the U.S. Court of Appeals for the Third Circuit answered a question of apparent first impression among the circuit courts of appeal by ruling that section 1113 of the Bankruptcy Code permits a bankruptcy trustee...
|Sun Capital Update: District Court Doubles Down on Imposition of Pension Liability for Private Equity Funds|
Aaron M. Gober-Sims, Lisa G. Laukitis; Jones Day;
June 15, 2016, previously published on May/June 2016Amendments to the Employee Retirement Income Security Act of 1974 (“ERISA”), 29 U.S.C. §§ 1001 et seq., in 1980 made “trade[s] or business[es]” that are under “common control”—which has since been defined by regulation to mean 80 percent common...
|Blocking Member Provision in LLC Agreement Designed to Prevent Bankruptcy Filing Unenforceable|
Mark A. Cody, Mark G. Douglas; Jones Day;
June 15, 2016, previously published on May/June 2016A contractual waiver of an entity’s right to file for bankruptcy is generally invalid as a matter of public policy. Nonetheless, lenders sometimes attempt to prevent a borrower from seeking bankruptcy protection by conditioning financing on a covenant, bylaw, or corporate charter provision...
|Sovereign Debt Update|
Mark G. Douglas; Jones Day;
June 15, 2016, previously published on May/June 2016The Republic of Argentina returned to global debt markets after a 15-year absence on April 19, 2016, when it sold $16 billion in bonds to fund a series of landmark settlements reached earlier this year with holdout bondholders from the South American nation’s 2005 and 2010 debt...
|Seventh Circuit Rules That Prepetition Nonresidential Lease Termination Is Voidable “Transfer” in Bankruptcy|
Mark G. Douglas, Timothy (Tim) Hoffmann; Jones Day;
June 15, 2016, previously published on May/June 2016Even before Congress added section 365(c)(3) to the Bankruptcy Code in 1984, it was generally understood that a nonresidential real property lease which has been validly terminated under applicable law prior to a bankruptcy filing by the debtor-former tenant cannot be assumed or assigned in...
|Sabine Bankruptcy Judge Issues Binding Ruling That Covenants in Rejected Midstream Agreements Do Not Run With the Land|
Thomas A. (Tom) Howley, Omar Samji, Jeffrey A. (Jeff) Schlegel; Jones Day;
June 14, 2016, previously published on May/June 2016On May 3, 2016, Judge Chapman issued a binding ruling in the Sabine chapter 11 cases that the covenants in the rejected midstream gathering agreements “do not run with the land either as real covenants or as equitable servitudes.” See Sabine Oil & Gas Corp. v. HPIP Gonzales...
|Taxpayers and Retailers Be Warned!|
Meghan S. Bean, Mark P. Rotatori, E. Kendrick (Ken) Smith; Jones Day;
June 13, 2016, previously published on May 2016On February 22, 2016, the United States Court of Appeals for the Tenth Circuit ruled in favor of the Colorado Department of Revenue ("Department") in a case that could have striking implications for both retailers and taxpayers. In Direct Marketing Association v. Brohl, No. 12-1175 (10th...
|IRS Extends Windpower Developers' Time to Receive Production Tax Credits|
Gerald P. (Jerry) Farano, Louis J. Jenull, Andrew P. Mina, Danielle M. Varnell, Todd Wallace; Jones Day;
June 13, 2016, previously published on May 2016On May 5, 2016, the Internal Revenue Service ("IRS") updated guidance regarding the "beginning of construction" requirement for renewable energy facilities seeking to qualify for the production tax credit ("PTC") and the investment tax credit ("ITC")...