Corporate and M&A



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Meet the Co-chairs - TIAG


Chapman, Simon
Burgis & Bullock
simon.chapman@burgisbullock.com


Palatnik, Seth
FGMK, LLC
spalatnik@fgmk.com


Meet the Co-chairs - TAGLAW


Adler, Anthony
Mitchell Silberberg & Knupp LLP
aaa@msk.com


Meet the Co-chairs - TAG-SP


Welten, Bernhard
Kanzlei Welten
bernhard.welten@kanzleiwelten.com


Author: Chris Laughton

The Recast EIR came into force in the UK, as in all EU member states except Denmark, on 26 June 2017. Its full title is Regulation (EU) 2015/848 of the European Parliament and of the Council of 20 May 2015 on Insolvency Proceedings (recast).

Useful Insolvency Service guidance explains that the Recast EIR “deals with cross-border jurisdiction, cooperation, recognition and enforcement of insolvency proceedings in the EU, [and] replaces EC Regulation (1346/2000) (the original Regulation) making changes to existing provisions and introducing areas of new policy.”

Read more: The Recast European Insolvency Regulation (the “Recast EIR”)

Contact: Wayne Berkowitz, CPA, J.D., LL.M.

It's called the Freelance Isn't Free Act (FIFA) and as of May 15, 2017 it has changed the playing field for those who hire freelancers in New York City. Businesses using freelancers are well advised to review and revise their practices in light of the new rules.

The Basics

Under FIFA, a freelancer is defined as any natural person or organization composed of no more than one person that is hired or retained as an independent contractor to provide services in exchange for compensation. Excluded from FIFA are salespersons working as independent contractors, practicing lawyers, and licensed medical professionals. Engagements with freelancers must amount to $800 or more calculated over a 120 day period in order to be subject to the new rules. FIFA requires that companies engaging freelancers to provide the qualifying amount of services must enter into a written contract.

Read the entire article.

National Company Law Tribunal finally gets notified. Sunrise moment in Corporate Law judicial framework

The Ministry of Corporate Affairs, on 1st June 2016, notified 

the constitution of the National Company Law Tribunals (‘NCLT’) and National Company Law Appellate Tribunals (‘NCLAT’). It is in a sense a sense of achievement for the Government of India to have finally constituted these long-overdue tribunals.  The conceptualisation, creation of legal provisions and the final constitution of NCLT and NCLAT was a long drawn process that spanned almost a decade and a half.

Read more: India notified new Tribunals to speed-up Company Law judicial process

Author: Simon Chapman and Wende Hubbard of Burgis & Bullock (Warwickshire, England - TIAG)

Summary

With effect from 6 April 2016, all non-listed UK companies and limited liability partnerships (“LLPs”) are required to create and maintain a register of the people that have significant influence or control over them (“PSC Register”).  These registers will be open for public inspection and there are criminal sanctions for non-compliance.

Read more: New Register of People with Significant Control

Contact: David Prichard; ESV Group (New South Wales, Australia)

Australia’s tax laws can be complex for foreign companies. That’s why it’s crucial to understand the tax implications of how you set up your operations, to ensure your business is efficient and effective in line with Australia’s tax laws.

Read more: Establishing Your Business in Australia: Branch vs Subsidiary