In an effort to make Chapter 11 relevant again, the president recently signed into law the Small Business Reorganization Act of 2019, which adds a new subchapter to Chapter 11 of the Bankruptcy Code intended to streamline the Chapter 11 bankruptcy process for companies that might not otherwise be able to afford the Chapter 11. READ MORE
Monthly Archives: September 2019
Earlier this month, the FDA released programmatic guidance intended to clarify the current review practices for the Humanitarian Device Exemption (“HDE”) Program (“Guidance”) reflecting recent changes in the HDE Program resulting from statutory amendments made by the 21st Century Cures. The Guidance addresses frequently asked questions about FDA actions on HDE applications, post-approval requirements, and includes a filing checklist to clarify the required information for the FDA to consider whether an HDE application is ready for substantive review.
On Sept. 24, 2019, the U.S. Department of Labor (DOL) issued the final rule on the new salary threshold for white-collar exempt status employees under the Fair Labor Standard Act. The new rule changes the current salary level for exempt employees from $23,660 per year to $35,308 annually. The new rule will be effective Jan. 1, 2020. Read more…
Using a social media influencer marketing campaign may seem like an organic or seamless way to promote a business. However, using influencer marketing may have legal implications for franchisors and franchisees subject to business opportunity laws and other federal regulations. READ MORE
Are More Exemptions Warranted to New California Legislation Codifying and Expanding Dynamex’s “ABC Test” for Independent Contractor Status? Continue Reading…
There may soon be a fair number of big rig trucks for sale in California, as well as computers, desks and other material investments of persons who determine that they may no longer offer their services as independent contractors and must shut down their small businesses, a potential repercussion of new legislation intended to restrict the use of independent contractor status in the state.
Whether those and other practical consequences of the hurried passage of the new law were considered by the California legislature is unclear.
On September 17, 2019, the U.S. Department of the Treasury issued a press release announcing two proposed regulations that will implement provisions of the Foreign Investment Risk Review Modernization Act of 2018 (“FIRRMA”). The proposed regulations will be published in the Federal Register on September 24, 2019, and they will expand the jurisdiction of the Committee on Foreign Investment in the United States (“CFIUS”). Specifically, the two proposed regulations will address certain non-controlling investments and real estate investments by foreign persons. The deadline to submit comments on the proposed regulations is October 17, 2019, and pursuant to FIRRMA the regulations will take effect no later than February 13, 2020.
Judgment: State Bank of India v Moser Baer Karamchari Union [Company Appeal (AT) (Insolvency) Number 396 of 2019]
Forum: National Company Law Appellate Tribunal (“NCLAT”).
Judgments delivered on: August 19, 2019.
Act/Law: The Insolvency and Bankruptcy Code, 2016 (“Code”).
The Ministry of Information and Broadcasting (“MIB”) has sought to undertake the ginormous task of regularising and certifying the content available on various entertainment platforms and digital media in general, more particularly referred to as the over the top platforms (“OTT”). The Minister of MIB, Mr. Prakash Javadekar, during a conference with members of the Central Board of Film Certification (“CBFC”) and the Film Industry, on August 31, 2019, stated that the MIB would soon call for talks with the major stakeholders of the prevalent OTTs, including Netflix, Amazon Prime Now, Hotstar etc. as also with members of civil society, technical community, media and legal experts, in order to discuss and formulate a concrete mechanism of certification and regularisation of the content available on such OTTs.