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The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ('BAPCPA') was initially enacted to reform the Bankruptcy Code as it relates to health care businesses and to protect the ongoing quality of patient care being provided by such health care establishments during a bankruptcy proceeding. Specifically, this legislation added Section 333 to the United States Code Title 11, which requires the appointment of a patient care ombudsman ('PCO') in Chapters 7, 9 or 11 reorganization cases where the debtor is a 'health care business,' as defined by the Code, unless the court finds the appointment is not necessary to protect the health and well-being of the business' patients.
Features
Given the instability in the current real estate market and the significant rise in the number of borrowers defaulting on their mortgages, the topic of foreclosures, regardless of the type, will be the subject of many future discussions and articles. Just a quick review of popular business periodicals reveals the many forces working together to both increase the number of foreclosures and decrease property values. In this climate, many lenders will be assessing their options when it comes to foreclosing on delinquent borrowers.
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The author shares his top 10 measures for avoiding contract mistakes.
Features
Featured prominently in business and financial headlines in late 2005 and early 2006 were a pair of highly controversial rulings handed down by the New York bankruptcy court overseeing the Chapter 11 cases of embattled energy broker Enron Corporation and its affiliates. Now, in a carefully reasoned 53-page opinion, District Judge Shira A. Scheindlin recently vacated both of the controversial rulings. <i>In re Enron Corp.</i>, 2007 WL 2446498 (S.D.N.Y. Aug. 27, 2007).
Features
This first installment of a two-part series explains the <i>Atlantic Research</i> decision and some of the basic steps a party to a commercial real estate transaction should take to help protect itself from unexpected CERCLA claims resulting from this decision.
Features
In an effort to increase comparability and consistency in how companies report income tax positions on financial statements, the Financial Accounting Standards Board ('FASB') issued FASB Interpretation Number 48 ('FIN 48'), Accounting for Uncertainty in Income Taxes on July 13, 2006. FIN 48 changes the way companies must account for uncertain tax positions taken on federal, state and local, and international income tax returns for financial reporting purposes.
Features
On Aug. 30, 2007, China's National People's Congress adopted the Anti-Monopoly Law ('AML'), the first ever comprehensive competition law in the largest emerging market in the world. This was the culmination of 13 years of legislative effort and debate since the first draft of this law was originally conceived. What are the essentials of China's emerging antitrust legal regime? The following are the ten key things that you should know about this area.
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This month's installment continues an exploration of the differences that franchisors in the United States and Canada will face when seeking injunctions to enforce non-competition and other covenants contained in their franchise agreements.
Features
The Internal Revenue Service has not weighed in on the proper tax classification of series LLCs. Accordingly, lawyers recommending this new form of entity to clients or considering a series LLC for an ancillary business of the law firm or other purpose should proceed with caution.
Features
Claims of consumer fraud are difficult and rarely succeed in the context of a pharmaceutical product liability action. They are, however, troublesome, because the pleading of such a claim often opens the door to extensive discovery of the company's sales and marketing departments. If the defendant cannot succeed in obtaining a dismissal prior to trial, it may still permit the jury to hear evidence of sales tactics and strategies that often paint the manufacturer in a less-than-favorable light. Companies should be aware of the potential for such claims and plan their sales and marketing strategies accordingly.
