Monthly Archives: August 2014

Slow progress 2014/8/31

Kejun Guo and Chen Jia of Zhong Lun Law Firm look at the latest developments in capital markets, including the reforms to the share offering system

More…

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Week of August 25, 2014 on ILNToday – A Roundup!

Here in the US, we have a holiday weekend, so that means Monday is a day off! Even better, it was
downright chilly when I woke up this morning, and I couldn’t be happier that fall is sneaking in – for many reasons, but mostly because Starbucks released their Pumpkin Spiced Latte early this year. I haven’t picked one up yet, but I’m definitely getting one today!

So before you head out for the weekend, grab your own PSL and take a gander through these top posts from ILNToday!

 

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Restrictive Covenants: Better To Ask And Disclose

When recruiting an executive, or when being recruited, it is best practice for the future employer, the employee and any executive recruiting firm involved in the placement to address head-on the existence of any restrictive covenant limiting the future activities of the employee. The New York State Supreme Court – First Department Appellate Division – yesterday upheld a claim that by not clearly disclosing the existence of a non-solicitation restriction in an executive recruit’s employment agreement, the head hunter involved in the placement could potentially be held liable to the new employer for negligent and/or fraudulent misrepresentation. See Amsterdam Hospitality Group v. Marshall-Alan Associates, Index Number 113685/11 (1st Dep’t Aug. 28, 2014).

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How to prepare for a dawn raid

This article was previously published in Real Business

Size and reputation mean little when an unannounced inspection (or a dawn raid, as they are commonly known) is conducted by a regulatory authority. Often, it will signal the start of protracted proceedings against an organisation, which can cause disruption and distress to the business and individuals alike.

Preparation is key. Whilst it will never be possible to predict if or when a dawn raid will take place, organisations should have a tried and tested plan in place so that informed decisions can be made on how to react.  More…

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Healthcare Alert: Settlement a harbinger of escalating Stark Law exposure for physician compensation?

A cardiology group practice recently agreed to pay $1.3 million to resolve allegations that it violated the Stark federal physician self-referral law and the False Claims Act by paying its physicians under a compensation formula that considered their referrals for nuclear and CT scans. On Aug. 4, 2014, the Department of Justice (DOJ) announced the settlement with the New York Heart Center, which has nine physicians and serves central and northern New York. 

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McDonald Hopkins Government Strategies: This Week in Washington — August 29, 2014

President Obama may be getting ready to drop a political nuclear bomb just months before the 2014 mid-term elections. The Obama administration is considering unilateral executive action on immigration—with action coming as early as next week.

President Obama has yet to receive formal recommendations on changes to immigration policy from Homeland Security Secretary Jeh Johnson, but White House lawyers are already crafting the legal rationale for unilateral executive action.

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Client Service: What would make you leave?

This morning, Nancy Myrland wrote an excellent blog post on one of the most important questions you should be asking your clients, both new clients and long-term clients:

What can I do to keep you as a client for the long haul?”

Nancy must be reading my mind again, because I have “client service” down as the subject to focus on for today’s post.  Her post got me thinking about the counter-question to this one, which is “What would make you leave?” 

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Customs issue further notice on DDP transactions

In our Update of 21 August we referred to the revocation of Australian Customs Notice 2000 / 30 effected by the issue of a new Australian Customs and Border Protection Notice 2014 / 36.

The revocation of the earlier Notice was of some significance given that it had been in place for 14 years and that there was no forewarning that there were problems with the Notice which necessitated its revocation. More…

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Fed up with trusts? Try a FIC!

If you want to give something away but retain some control over it, chances are that an English lawyer will tell you to use a trust. 

I am a great fan of trusts but, let’s be honest, they have some potential drawbacks.  For example, if an individual puts more than £325,000 into trust, a 20% Inheritance Tax (IHT) entry charge could be payable.  Most trustees currently pay Income Tax at between 37.5% and 45% and Capital Gains Tax (CGT) at 28%, which leaves less after tax to reinvest.  It is also very difficult to prevent beneficiaries interfering in the trust administration completely – the whole premise of a trust is that the trustees have to be accountable to the beneficiaries.  Laudable but not always wanted.

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Multistate Tax Update — August 28, 2014

Professional athletes seem to have it all. They get to play sports for a living, travel around the country, spend lots of money, live in big homes, drive fancy cars, and gain notoriety and fame. The lifestyle of a professional athlete though can be quite taxing, literally. Professional athletes must navigate a complex scheme of state and local tax laws, and are subject to taxation in nearly every destination in which they perform over the course of a season. While there is a widespread perception that athletes are subject to a unique set of taxes specially designed for athletes, often referred to as “jock taxes”, that is not entirely accurate.

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