On 8 May 2018, Scott Morrison, Treasurer of Australia, delivered the 2018 budget. In addition to a number of tax cuts and related proposals, the budget includes new measures to increase director liabilities and compliance, specifically targeting illegal company ‘phoenix … […]
Since the financial crisis in Greece began there has been an evolution of legislative initiatives regarding pre-insolvency procedures addressing the need to lift barriers to efficient restructuring of Greek businesses. This May the Greek legislature introduced a new process of … […]
The U.S. Uniform Foreign Money-Judgments Recognition Act (UFMJRA) was intended to make enforcement of foreign country judgments more streamlined and predictable in this age of transborder disputes and multi-jurisdictional transactions. It also reassures foreign courts that their judgments are likely … […]
The United States Internal Revenue Code prescribes minimum imputed interest rates and time-value-of-money factors applicable to certain loan transactions and estate planning techniques. These rates are tied formulaically to market interest rates. The Internal Revenue Service updates these rates monthly … […]
Chambers Global, the leading international legal directory, honored two Ally Law Canadian member firms –Torkin Manes LLP (Toronto) and Kornfeld LLP (Vancouver) in its 2017 Chambers Canada guide. Torkin Manes LLP is ranked as a highly regarded firm (Band 2) … […]
A recent decision by the High Court of Australia settles the question of whether contractual late payment fees constitute impermissible penalties. In allowing the fees in question, the High Court reaffirmed the freedom of contract and held that courts should … […]
In the United States, bankruptcy is governed by the federal court and rules, with certain property rights being determined by state law. The federal Advisory Committee on Bankruptcy Rules, engaged in a modernization project intended to simplify the language within … […]
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