ILN Today Post

Tesla embroiled in SEC dispute over Elon Musk’s recent tweets

Despite provisionally agreeing to settle an ongoing dispute with the Securities and Exchange Commission (SEC) centering on a tweet speculating that Tesla may be taken private, Elon Musk has continued to jeopardize settlement discussions by taunting the SEC on Twitter. Given that the terms of any settlement are subject to judicial review, Musk’s Twitter usage has risked exposing Tesla and Musk, personally, to additional monetary liability and further mandates to change Tesla’s corporate structure to limit Musk’s control over the company.

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Ontario Judge Considers Systemic Anti-Black Racism As A Sentencing Principle

Earlier this year, a Toronto jury found Kevin Morris (“Morris”), a 26 year old black man, guilty of several gun-related charges including possession of an unauthorized firearm, possession of a prohibited firearm with ammunition and carrying a concealed weapon.  The jury acquitted Morris of assaulting a police officer with intent to resist arrest. Morris was sentenced to 15 months in jail.  Predictably, there was an outcry in some media and corners of the criminal justice community that the sentence was too lenient and “soft on crime”.  On September 11, 2018, several months after Morris’s conviction, Justice Shaun Nakatsuru, the trial judge, released his written reasons for the sentence, including why he spared Morris from serving time in a federal penitentiary.   The reasons run twenty-one pages in length.  At the end of the reasons, Justice Nakatsuru attached as an appendix a report entitled “Expert Report on Crime, Criminal Justice and the Experience of Black Canadians in Toronto,” written by three social scientists.  The appended report, also runs 21 pages in length, excluding another 10 pages of footnotes.
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Liability to account for future profits: an expansion of the available remedies for knowing assistance?

In its recent decision in Ancient Order of Foresters in Victoria Friendly Society Limited v Lifeplan Australia Friendly Society Limited [2018] HCA 43, the High Court has highlighted the expansive remedies that can be ordered against a party who is found to have knowingly assisted in a breach of fiduciary or statutory duty, including ordering an account of anticipated future profits not yet (and potentially not ever) derived. This decision serves as a warning to those who knowingly assist employees, directors or officers and other fiduciaries to breach their duties that the financial liability of such conduct may far outweigh the actual benefits received.

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Talking Tax – Issue 137

Case law

Pub’s gamble pays off: gaming machine entitlements deemed revenue expenditure

A humble Daylesford hotel is the latest battleground in the age-old capital v revenue tax battle.

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ILN Today Post

Howard & Howard Welcomes Ryan O’Malley

Royal Oak, Michigan, October 11, 2018:  Howard & Howard Attorneys PLLC is pleased to announce that Ryan T. O’Malley has joined the firm. He will practice out of the firm’s Las Vegas, Nevada office.

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ILN Today Post

Music Modernization Act Overhauls Music Licensing and Royalty Payments

Songs and musical works have been protected under the intellectual property laws of the United States since the 1830s, and third parties who wish to use or perform songs written by others must first get permission from the songwriter to do so. However, sound recordings did not enjoy federal copyright protection until 1972, resulting in older songs being subject to a patchwork of state copyright laws governing recordings, and new song recordings being treated differently under the law than the songs themselves.

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ILN Today Post

Preserving causes of action in Sixth Circuit: In re Mountain Glacier

One important aspect of a chapter 11 case, whether the plan for the case is to reorganize and emerge from bankruptcy or to liquidate, is the preservation of pre-petition claims for prosecution after the plan is confirmed. If a claim is not properly preserved and transferred in the chapter 11 plan, the debtor risks losing the claim post-confirmation. The defendant may defend any such claim by asserting the claim is barred pursuant to res judicata or the debtor lacks standing to pursue the claim.

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Court Finds ACLA Claims Precluded, CMS PAMA Rules Stand

The American Clinical Laboratory Association (“ACLA”) challenged the final rules promulgated by the Department for Health and Human Services (“HHS”) pertaining to how the Medicare Clinical Laboratory Fee Schedule (“CLFS”) payment rates are established for laboratory services (Am. Clinical Lab. Ass’n v. Azar, No. 17-2645 ABJ, 2018 U.S. Dist. LEXIS 161639, 2018 WL 4539681 (D.D.C. Sept. 21, 2018)). The U.S. District Court of the District of Columbia granted HHS’ motion for summary judgment to dismiss the complaint after concluding that the court lacked subject matter jurisdiction to hear the case. This is a significant set-back for the laboratory industry that has been fighting against the reductions in Medicare reimbursement under the new payment methodology, but it is not the end of the road.

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ILN Today Post

Filing problems

Since January this year, it’s been more difficult than ever to litigate in Hungary. Courts have been rejecting countless petitions, filed by even the most experienced lawyers, citing professional inaccuracies or formal errors. The stringent policy is likely to prompt parties with grievances to use alternative forums for the settlement of disputes.

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International Lawyers Network Welcomes New Member Firm in Mexico

 

 

 

 

 

 

 

As one of the largest networks of experienced attorneys in the world, the International Lawyers Network is pleased to announce that Martinez Berlanga Abogados in Mexico City, Mexico have joined the association. An independent, regional law firm, Martinez Berlanga Abogados provides clients with general corporate, restructuring, corporate finance, mergers and acquisitions, joint-venture, cross border transactions, real estate, local and cross border trust structures and testamentary successions, as well as regulatory advice.

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