Monthly Archives: November 2011

Miami Herald article features Arnstein & Lehr’s morale-boosting efforts

The  Miami Herald featured an article entitled “The holiday season push” on October 31st that addressed South Florida businesses’ efforts to ensure a successful fourth quarter, motivate employees and increase teamwork. Florida Managing Partner Jeffrey B. Shapiro and Arnstein & Lehr were featured prominently in the article.  In it Mr. Shapiro discusses the firm’s initiatives to encourage attorneys to collect fees and for staff to better serve clients. He used the Miami offices annual Halloween party and our internal Clients First campaign as examples of the firm’s efforts. To read the complete article, please click here.
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TARK GRUNTE SUTKIENE substantially strengthens its tax practice with Loreta Antanaitienė

TARK GRUNTE SUTKIENE substantially strengthens its tax practice. Loreta Antanaitienė, a former Head of the Control Organisation Division of the Vilnius County State Tax Inspectorate, has joined the Banking and Finance practice group of the firm’s Lithuanian office. Loreta has worked in the Vilnius State Tax Inspectorate for 14 years and has extensive experience in working with the most complex tax cases handled by the tax authorities.

Loreta’s expertise has been recognized over the years, as Loreta has been assigned to several key positions, including Deputy Head of the Infringement Assessment Division and the Head of the Audit Lawyers Group. Loretas expert knowledge of the tax regulations and understanding of the practices and policies of the State Tax Inspectorate enalbes her to provide a top ranking advise to the clients.

The Banking and Finance practice is one of the anchor practice of the firm with 9 lawyers.

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Twitter Tutorials – Anatomy of the Home Page Part I

So now we’ve got our profiles set, and we’re building our followers.  I’d like to talk about engagement as we did during the LinkedIn series, but first, I think it’s important to understand the Twitter home page.  Because Twitter does seem to have a strange language all of it’s own, I want to make sure that it’s all understandable as we move through the tutorials.  One of the best recommendations I can give you though, is to play around with Twitter as much as possible – with all of the various social media platforms out there, I’ve found that diving in is one of the best ways to learn what Twitter is all about. 

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Court holds that arbitration agreement fails for lack of consideration

Agreements requiring employees to arbitrate any claims they may have against their employers arising from their employment can save both time and money.  Courts, however, will review such agreements very carefully to ensure that they do not unfairly disadvantage employees by, among other things, denying them remedies or procedural tools that would be available to them in traditional litigation before a court.  As a recent case demonstrates, courts will also review arbitration agreements to be sure they satisfy basic principles of contract law.

In Domin v. River Oaks, Inc.pdf, the employee signed an arbitration agreement that stated, in part:

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Navigating Frequent Questions on How to Administer and Monitor Intermittent FMLA Leave

By:   Elizabeth Bradley

Most employers are well versed in the FMLA requirements; however, I recently received a call from one of our hospitality clients seeking guidance on administering intermittent FMLA  leave.  Specifically, the hotel was seeking advice on how to manage a Housekeeping Department employee who was approved for intermittent FMLA leave and had recently increased the frequency of his days off with little or no notice of the need for leave.

Notably the FMLA and supporting regulations do not provide much guidance for employers. It is clear from the regulations, however, that intermittent FMLA leave was initially contemplated to allow employees time off for scheduled medical appointments.  But, as all employers have probably experienced, intermittent leave is more commonly used by employees to take periodic days off when their medical condition prevents them from being able to work. This places employers in the difficult position of having to provide employees with leave without the ability to properly staff its business due to the lack of notice.

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Twitter Tutorials – Follow and Be Followed

Now that we’ve got our Twitter profile ready for it’s debut, it’s time to start following people.  Yes, this sounds a bit stalker-ish, and it is, a little, because you’re subscribing to whatever someone else wants to tweet.

But although there are people out there tweeting about everything they ate for breakfast, you don’t have to do this – there can be some use in tweeting if you’ve eaten out at a great restaurant, but we’ll cover subjects to tweet on in a future post!

So let’s begin by logging into our home page again.  If you left the box checked yesterday to keep you signed in on Twitter, going to twitter.com will automatically take you to your home page. Otherwise, you may need to sign in again. 

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ILN Today Post

Defining Charity: The changes just keep coming – Treasury consultation released

In the continuing barrage of information relating to the reforms to the not-for-profit sector, on 28 October 2011 the Commonwealth Treasury released its consultation paper on a definition of charity to apply for all Commonwealth laws with effect from 1 July 2013. Although Treasury has indicated that existing charities will not need to reapply to the new Australian Charities and Not-for-profits Commission for registration, it has indicated that registration will be reviewed by the ACNC over time. read more

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ILN Today Post

REVISION TO FDI POLICY ON IN-BUILT OPTIONS

The Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India (“DIPP”) had on September 30, 2011 released the fourth edition of the consolidated FDI Policy of India vide Circular 2 of 2011 (“New FDI Policy”).

Section 3.3.2.1 of the New FDI Policy prescribed that only:

i.    equity shares;

ii.   fully, compulsorily and mandatorily convertible debentures; and

iii.  fully, compulsorily and mandatorily convertible preference shares,

in each case with no in-built options of any type, would qualify as eligible instruments for FDI. Equity instruments issued/transferred to non-residents having in-built options or supported by options sold by third parties would lose their equity character and such instruments would have to comply with the extant external commercial borrowing (“ECB”) guidelines.

The impact of inclusion of section 3.3.2.1 in the New FDI Policy has been discussed in detail in “LexAnalysis – FDI Policy of India” of October 5, 2011. In our analysis, we had mentioned that the inclusion of the aforesaid section 3.3.2.1 in the New FDI Policy was not welcomed by corporates and investors. This was primarily because of the reason that the New FDI Policy did not define what constitutes “in-built options”. This led to confusion amongst the corporates and their advisors who could only surmise that the new section 3.3.2.1 is related to the recent stance of the Reserve Bank of India on put option and pre-agreed buy back arrangements as futures or derivatives transactions. The new FDI Policy thus had an adverse impact on the investment agreements entered into by venture capital funds, private equity players and strategic investors. We had surmised that the Government would need to revisit this issue.

On October 31, 2011, the DIPP has issued a press release in terms of which section 3.3.2.1 of the New FDI Policy has been deleted. This decision of the DIPP would be a great relief for corporates, especially venture capital funds, private equity players and other strategic investors.

LexCounsel, Law Offices
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Disclaimer:- The information provided here is not intended to solicit or establish any attorney-client relationship between LexCounsel and the reader(s).

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