Beginning in 2016, all trusts (whether created during an individual’s lifetime, or in their will) will be subject to tax at the highest marginal rate unless the trust meets one of two exceptions. The first exception applies if the trust qualifies as a “graduated rate estate” (GRE). This exception, which has been discussed in previous posts, will allow most estates to have access to graduated rates of taxation for up to 36 months, if certain requirements are met. The second exception applies where the trust qualifies as a “qualified disability trust” (QDT). This exception will allow certain trusts that are created for the benefit of a person with a disability to have access to graduated rates of taxation.
Monthly Archives: June 2015
The late payment of commercial debts can have a detrimental impact on any size of business, but perhaps more so for a smaller business where cash flow is more likely to be reliant on the timeous payment of invoices.
The enactment of the Late Payment of Commercial Debts (Interest) Act 1998 makes provision for creditors to be compensated where instances of late payment of debts arise. The introduction of the Late Payment of Commercial Debts Regulations 2013 further amended the provisions of the Late Payment of Commercial (Interest) Act 1998 extending the scope of the Act. It added an implied term to qualifying contracts whereby providing a statutory right to claim interest and compensation arising from the late payment of commercial debts. It is important to be aware of the terms of the relevant legislation as they essentially act as a deterrent to the late payment of commercial debts.
Clark Wilson would like to warmly welcome the newest member of our Technology and Intellectual Property Groups, Kwan T. Loh, who is also a registered Trade-mark Agent. Kwan practices exclusively in intellectual property law, and regularly advises clients how to procure, protect, and enforce their intellectual property rights. He is also fluent in Mandarin and conversant in Cantonese
Jennifer Loeb led our team to successfully obtain a full dismissal of a claim made by a tenant against our client (a landlord) arising from a fire that occurred in a rental unit. In dismissing the claim the judge concluded that the plaintiffs had failed to establish that their damages had been caused by the negligence of the defendant, stating that to reach that conclusion would “be speculative at best.”
Last week we reported on the June 3rd vote by Gawker media’s employees for union representation and speculated what it meant in the broader context of union organizing among Millennials.
Today, Rachel L. Swarns of the New York Times provided some insight based on interviews and reporting with Gawker workers.
The article notes a recent study by the Pew Research Center finding that those in the 18-29 age group view unions more favorably than those in other age groups, with almost twice as many having a favorable view of unions than those who don’t.
We’re delighted to announce that our firm of the month for June/July is KLA – Koury Lopes Advogados, Brazil!
ILN Firm of the Month – KLA – Koury Lopes Advogados – Brazil!
The ILN is proud to announce our latest firm of the month, KLA – Koury Lopes Advogados – Brazil!
KLA is a dynamic full-service law firm, established in 2002. What makes the firm different and places it among the most modern law firms in Brazil is its way of applying legal knowledge to the business of its clients. The firm works not only with transactional and complex operations, but also dedicates the same effort to daily matters, offering full time support. It aims to understand the business of the clients and respond with the necessary agility, clarity in communications and practicality. The firm tries constantly to anticipate relevant trends and novelties, aggregating value to its legal services. The partners participate or personally manage all steps of the work and do not distance themselves from the client, since long-lasting relationships are part of the firm’s philosophy. The right professionals are allocated for each work, with the purpose of obtaining the maximum efficiency in the formation of the teams dedicated to each client and matter, assuring effectiveness and cost control. A top level team of motivated professionals is located in its São Paulo and Brasília offices, many with academic and professional experience abroad.
Konkursrådet har i april 2015 afgivet en betænkning om ansattes retsstilling ved insolvensbehandling. Betænkningens hovedområde er lønprivilegiet i konkurslovens § 95, men der er i betænkningen også stillet forslag om ændringer ved rekonstruktionsreglerne.
Som det første foreslår Konkursrådet, at rekonstruktionsbehandling bliver udbetalingsgrund fra LG. Som det er nu, skal medarbejdere afvente rekonstruktionsbehandlingens afslutning, før LG kan udbetale løntilgodehavender. Ifølge Konkursrådets forslag skal LG, når der indledes rekonstruktion, kunne udbetale alle krav til medarbejder, der ikke fortsat beskæftiges under rekonstruktionen. For medarbejdere, der beskæftiges under rekonstruktion, skal LG kunne udbetale krav, der forfaldt inden indledning af rekonstruktion.
As a follow up to the previous blog which discussed the principle of withholding landlord’s consent in theory, this blog article will look at it in practice, and will focus on the recent Outer Court case; Homebase Limited v Grantchester Developments (Falkirk) Limited  CSOH 49. This case relates to a lease of retail premises in Falkirk, where the Landlord was Grantchester, and the Tenant was Homebase.
The Tenant wanted to assign their interest in the Lease to another company called CDS (Superstores International) Limited (“CDS”). Under the Lease, the Tenant was not permitted to assign their interest, without first obtaining the prior written consent of the Landlord. The consent was not to be unreasonably withheld or delayed, in terms of an assignee “of sound financial standing demonstrably capable of fulfilling the Tenant’s obligations” under the Lease.
It’s a hot, hazy and humid summer day here in the northeast, but it’s Friday AND we’re launching our Corporate Group’s International Guide: Establishing A Business Entity In! So there’s a lot to celebrate today. Plus, we’re bringing you our usual roundup of this week’s top posts from over on ILNToday.
his article was previously published in Building on 29 May 2015
The Construction (Design and Management) Regulations 2015 came into force last month, but misunderstandings remain over principal designers and CDM co-ordinators.
So, 6 April 2015 has come and gone, CDM 2015 is now in force and we must all work out exactly how to comply with it. There seem to be various misunderstandings around, particularly over principal designers and CDM co-ordinators. For instance: More…