Tag Archives: court decision

Court of Appeal decides cap and collar does not fit

The NSW Court of Appeal delivered judgment on 16 May 2018 in Weir Services Australia v AXA Corporate Solutions Assurance [2018] NSWCA 100. The Court considered the nature of a cap and collar agreement between Weir Services Australia (Weir) and AXA Corporate Solutions Assurance (AXA) and the characterisation of a liability to be indemnified pursuant to broad form liability insurance policy.

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Washington: Seattle seeks review of the court decision striking down its wealth tax

Just after Thanksgiving, Judge John Ruhl of the King County Superior Court in the state of Washington struck down Seattle’s ordinance imposing a 2.25 percent income tax on joint filers with incomes over $500,000, and single filers with incomes over $250,000. Seattle officials promised to take their case to the Washington Supreme Court, and so they have, with their Dec. 8, 2017 notice of appeal, which Bloomberg posted on-line.

Seattle’s mayor at the time signed the ordinance on July 14, 2017, and according to its terms, it was to take effect 30 days later. But also on July 14, 2017, a number of plaintiffs sued the Emerald City, asserting that the tax violated both Washington state law and its constitution. Judge Ruhl agreed in a Nov. 22, 2017 decision granting summary judgment to the plaintiffs, the highlights of which we summarized when it came out.

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