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The highly anticipated draft Policy Memorandum (L-1B Memo) addressing the qualifying criteria for the L-1B visa category was released by U.S. Citizenship and Immigration Services (USCIS) on March 24, giving immigration practitioners and employers clear guidance on the definition of “specialized knowledge” and the standard of review USCIS adjudicators should apply when evaluating L-1B petitions. Corporate counsel should be prepared to address the qualifying criteria outlined in the L-1B Memo, which clarifies and expands on previous agency guidance regarding L-1B visa adjudication. The feedback period for the L-1B Memo ended on May 8 and becomes effective on Aug. 31.
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There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
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