Be sure to file where directed: Proofs of Claim generally are filed with the Clerk of Court in the district and division of the bankruptcy court where the debtor’s bankruptcy is filed. Often in large Chapter 11 cases, though, claims are directed to be filed with a claims agent instead of the Clerk. In addition, some debtors obtain detailed court orders setting forth specific procedures for filing which differ from traditional instructions and may require sending copies of the Proof of Claim to additional parties in order to have the claim considered properly filed. If you receive an order setting bar dates for Proof of Claim, read carefully! If you are in a Chapter 13 case, be aware that many districts require a Chapter 13 claim to be filed with the Chapter 13 Trustee instead of the Clerk. Who is the debtor? In bankruptcy cases where there are multiple debtor affiliates and corporations, the creditor should make proper inquiries and … [Read more...] about Proofs of Claim: Hot Topics and Filer Beware!
3. FICA Tax on Severance Paid in Connection with a Workforce Reduction Ordinarily, employees and employers pay Social Security and Medicare taxes on wages received by employees. An employer withholds an employee’s share from his or her paycheck and sends it to the IRS along with the employer’s matching payment. However, the question of whether severance payments made in connection with a workforce reduction are “wages” is an issue that the Supreme Court of the United States (SCOTUS) soon will decide. If severance payments are considered wages, it’s business as usual. But if not, then such payments are exempt from these FICA taxes, and employers may be entitled to refunds from the IRS and also will be required to distribute to affected former employees their share of the refund. Because SCOTUS likely will decide the issue after the April 15, 2014 IRS filing deadline, employers that have made severance payments because of a workforce reduction should … [Read more...] about Top Ten Hot Topics for Employers in 2014
The ICSC U.S. Law Conference celebrated its 44th anniversary this year. The content of the seminars, workshops, round tables and other forums did not disappoint. Each year following the conference we like to summarize some of the hot topics addressed at the conference. There were a number of topics that received attention during multiple sessions and many of the topics were not new issues but rather new twists on the old standby issues. The following is a summary of some of the issues that received attention at multiple sessions. … [Read more...] about Hot Topics from the ICSC 2014 Law Conference: Some Things Old and Some Things New
“[w]here traditional businesses operating through high street shops face intense competition from online sales, suppliers may be tempted to respond by introducing practices, like online sales bans, that can restrict such competition. The internet is an increasingly important distribution channel and retailers’ ability to supply via this channel should not be unduly restricted“. … [Read more...] about Online Sales Restrictions Remain a Hot Topic: UK CMA Issues Statement of Objections
With this test, the presumed demise of the unpaid internship now looks potentially misplaced. Recognizing the historic educational value of unpaid internships, the Second Circuit has endeavored to create a reasonable road map that will allow U.S. businesses to create lawful unpaid internship programs that preserve the fundamental educational aspects of the internship concept even in circumstances where the intern may perform some work that benefits the business as well as the intern. … [Read more...] about Unpaid Interns: The Second Circuit Pours Cold Water on a Hot Topic