Tag: Legal

After a brief respite of bipartisanship in January, the border security and foreign aid package is officially dead in the water, and the Senate’s busy legislative calendar has effectively stalled the bipartisan tax package that the House passed last week. In other words, everything is back to normal in D.C. On Wednesday, Jan. 31, the House passed, by a strong margin of 357-70, a bipartisan tax package that extended the increased child tax credit for another two years as well as several business tax provisions that were part of the Trump tax cuts in 2017. Most notably:

In response to global conflicts, the U.S. and its allies have increased economic sanctions and enforcement measures against various countries. Businesses can minimize their exposure to these changes by regularly monitoring sanction updates, understanding applicable laws, integrating sanctions compliance into regulatory processes and strengthening Know-Your-Customer (KYC) policies. Why it matters: The noticeable surge in, attention to and enforcement of international trade requirements and regulations underscore the need for credit managers to stay vigilant and be aware of potential …

In response to global conflicts, the U.S. and its allies have increased economic sanctions and enforcement measures against various countries. Businesses can minimize their exposure to these changes by regularly monitoring sanction updates, understanding applicable laws, integrating sanctions compliance into regulatory processes and strengthening Know-Your-Customer (KYC) policies. Why it matters: The noticeable surge in, attention to and enforcement of international trade requirements and regulations underscore the need for credit managers to stay vigilant and be aware of potential …

General liability insurance, also known as business liability insurance, is pivotal in the construction world as it helps cover claims of bodily injury or property damage. But that may change in Illinois as the state’s Supreme Court held commercial general liability (CGL) policies can provide coverage in Illinois for damage caused by inadvertent construction defects. 

Several business-to-business (B2B) credit managers and bankruptcy attorneys from Lowenstein Sandler recently convened with the American Bankruptcy Institute (ABI) Subchapter V Task Force to exchange invaluable insights gleaned from their cumulative experiences in Subchapter V cases.

Escheatment is a legal process by which unclaimed or abandoned assets, typically financial assets like bank accounts, uncashed checks, or securities, are transferred to the government. This occurs when the rightful owner of the property or funds cannot be located or identified after a specified period, known as the dormancy period. The account or property can be reclaimed if someone emerges with a legal claim, but reclamation is generally subject to a statute of limitations. Statutes not only vary by state, but by property type with costs that continue to increase.