With the introduction of the Insolvency & Bankruptcy Code, 2016 (“Code”), there has been a flurry of litigation before the National Company Law Tribunals (“NCLT”) and the National Company Law Appellate Tribunal seeking initiation of corporate insolvency resolution process with respect to companies in default of debt. The Code being a new legislation is not without loopholes. As a result, the Code has already undergone amendments within a short span of time to eliminate such ambiguities and achieve the real objective of the Code.
Monthly Archives: June 2018
BACK DOOR ENTRY OF THE DEFAULTING PROMOTERS – INAPPLICABILITY OF SECTION 29A OF INSOLVENCY & BANKRUPTCY CODE
A few years ago while traveling, I had the opportunity to read an article about how private labels in grocery stores were gaining traction against national brands. While the article isn’t available online anymore, the story offers some interesting food for thought (no pun intended) for the legal industry and the way that law firms are tackling the challenges presented by the current marketplace.
Funds and financial products
ASIC releases guidance for its oversight of the Australian Financial Complaints Authority
The Government released the first tranche of the Corporate Collective Investment Vehicle (CCIV) Bill for public consultation. The CCIV complements the Asia Region Funds Passport initiative, which the Government introduced into Parliament earlier this year. In this update, we consider the exposure draft legislation.
Since the inauguration of President Trump, the Affordable Care Act (ACA) has taken quite a few significant jabs and blows. When Congress failed to repeal the ACA, Congress instead eliminated the individual mandate penalty through the GOP tax bill. The individual mandate penalty was one of the main pillars of the ACA because it effectively widened the pool of participants who buy health insurance in order to keep costs down. While removal of this penalty hit the ACA where it hurt, the true threat to the stability of the ACA arose when the Trump Administration announced that it would no longer defend the ACA against a challenge filed by twenty states that believe the individual mandate itself is unconstitutional and that key parts of the act are invalid. What is the outlook for the ACA?
Eighty years ago today, President Roosevelt signed the Federal Food, Drug, and Cosmetic Act (“FD&C Act”). In recognition of this anniversary, EBG reviews how the FD&C Act came to be, how it has evolved, and how the Food and Drug Administration (“FDA”) is enforcing its authority under the FD&C Act to address the demands of rapidly evolving technology.
ATTORNEY LISA GRETCHKO NAMED TO TWO-YEAR TERM AS VICE PRESIDENT-PUBLICATIONS OF THE AMERICAN BANKRUPTCY INSTITUTE
Royal Oak, Michigan, June 21, 2018: Howard & Howard Attorneys PLLC is pleased to announce that Lisa Gretchko was recently named to a two-year term as Vice President-Publications of the American Bankruptcy Institute (“ABI”). With headquarters in Alexandria, Virginia, the ABI is the country’s premier bankruptcy organization with more than 12,000 members from various professions including lawyers, judges, financial advisors, lenders, auctioneers, turnaround specialists, and claims agents. Since 2014, Lisa has been an Executive Editor of the ABI Journal, the organization’s monthly publication of scholarly articles on a wide range of bankruptcy-related topics. She has been an ABI member since 1992 and was co-chair of its Unsecured Trade Creditors Committee in 2013-2015; Lisa was honored as the ABI’s 2014 “Committee Person of the Year” for that service.
On 1 June 2018 the Federal Law No. 212-FZ1 (“Law 212-FZ”) entered into force. Law 212-FZ changes the regulation of obligations and certain types of contracts. Below we review changes regarding cession, loan agreement, escrow account and letter of credit.
On June 20, 2018, the Centers for Medicare and Medicaid Services (“CMS”) published an advance copy of a request for information seeking public input on reforms to the Physician Self-Referral Law (or “Stark Law”).
In today’s Rainmaking Recommendation post from expert and trainer, Jaimie Field, she addresses a question you likely know the answer to – are all rainmaking activities created equal? And if not, should you be devoting your time to lower value activities, and considering “rainmaking” checked off your to-do list? Read on…