On 25 April 2023, Guernsey introduced the Preferred Debts (Insurance Policyholders) (Bailiwick of Guernsey) Amendment Ordinance, 2023. That Ordinance effects changes to the Preferred Debts Law, 1983, which accords priority to certain preferred creditors in the event of insolvency. Full details of Guernsey's insolvency regime can be found here ...
The Treasury Department has announced further extensions for medium-sized and large-sized employers for compliance with the “employer mandate” of the Affordable Care Act (“ACA”). The employer mandate requires employers with a threshold level of employees to provide affordable health insurance to 95% of their full-time employees. Under the ACA, a full-time employee is defined as any employee who works on average 30 or more hours per week ...
High Noon for the planning system chimed on 28 October with the publication of the White Paper "Local Growth: Realising Every Place's Potential". The DCLG Business Plan 2011-2015 followed with a timetable for implementation. If brought forward in their current form, the White Paper's proposals will dramatically change the dynamic of the planning framework ...
Introduction On 2 October the UK's Competition Commission re-iterated its recommendation to the Government and the devolved administrations that they should take the necessary steps to introduce a competition test in planning decisions involving large grocery developments ...
On the market since the late 1990s, cyber insurance is nothing new. But as the Internet spreads deeper into people's lives, cyber risks continue to grow and evolve well past simple data loss or compromise ...
On July 1st 2021, the Russian President signed a draft law on amendments to the Russian Civil Code, establishing the possi-bility of creation of a new type of non-commercial organization - a personal foundation- from March 1st 2022.Purposes of using personal foundationsThe personal foundation will become a new asset planning instrument, after the detailed legislation comes into force ...
The Ministry of Commerce under the Government of the Republic of the Union of Myanmar issued Notification no. 56/2016 on 7 July 2016, announcing that permits for the trading of construction materials may be granted to joint-venture companies with a foreign partner. This means that foreign companies can now form a joint-venture company and import constructions materials– they could not do this in the past ...
In recent months the Serbian Parliament passed amendments to Serbian tax laws, including the Law on Personal Income Tax (PIT Law), the Law on Contributions on Mandatory Social Insurance (CMSI Law), the Law on Corporate Income Tax (CIT Law), and the Law on Value Added Tax (VAT Law). These amendments introduce tax relief for salaries paid to employees in newly incorporated legal entities ...
In case C-323/17 People Over Wind and Peter Sweetman v Coillte, the Court of Justice of the European Union (CJEU) ruled that mitigation measures could not be taken into account at the screening stage of an appropriate assessment. Facts This case focused on proposed works that were necessary to lay a cable connecting a wind farm to the electricity grid and the potential effects that this would have on two special areas of conservation ...
Pension funds: hedging longevity risk Bulk Annuities Market Recent hikes in interest rates have led to huge increases in the funding levels of many UK defined benefit pension schemes (DB Schemes). Now they are in surplus, many DB Schemes are considering a bulk annuity transaction or "buy-in". As a result, the bulk annuity market is booming ...
On Dec. 11, 2021, The Pennsylvania Department of Drug and Alcohol Programs will issue final regulations launching a new licensure and certification process for drug and recovery homes doing business in the Commonwealth of Pennsylvania. Each individual drug and recovery home operating in Pennsylvania must obtain a license and demonstrate compliance with the final regulations within 180 days of their issuance ...
Beginning July 1, 2020, Pennsylvania’s Act 46 of 2019 (Act 46)[1] will require most Pennsylvania health insurers to cover medication synchronization services (MedSync) provided to patients taking two or more maintenance medications (i.e., medications for chronic long-term conditions, including diabetes, high blood pressure, and heart disease) ...
At a news conference on April 20, Governor Wolf announced he is extending his stay-at-home order until May 8, 2020. But in a nod to a construction industry that has been particularly hard-hit by the Governor’s shutdown and stay-at-home orders, Governor Wolf said he also will permit construction (both residential and non-residential construction) to resume throughout the Commonwealth on May 8, 2020 ...
A federal district court judge in Pennsylvania ruled that first-party property claims for damages due to defective stucco arose from a single occurrence and, upon determining the date of loss, held that the coverage claims were barred by the insurance contract’s two-year suit limitations period. Smith, et al. v. Westfield Insurance Co., No. 06-3077; 2007 U.S. Dist. LEXIS 87431 (E.D. Pa. November 27, 2007) Case Background ...
In this article, Tang Yen Yi examines the PENJANA Short-Term Economic Recovery Plan in relation to the property sector. During these unprecedented times of a global pandemic due to COVID-19, the Government of Malaysia announced the recovery plan for the country’s economy: PENJANA Short-Term Economic Recovery Plan (“PENJANA”).PENJANA includes plans to stimulate the economy with incentives for real estate transactions ...
Legislation in Florida may soon change the time property owners have to file construction-related lawsuits. Both the Florida Senate, with SB 360, and the House of Representatives, with HB 85, passed identical bills and recently converted them into an Act to be presented to the Governor. If signed into law, the Act would revise the lawsuit “triggering actions” in section 95 ...
The Supreme Court of Canada issued its reasons today in Krayzel Corp. v. Equitable Trust Co., 2016 SCC 18, adding some clarification to a mortgage lender’s right to protect itself from the increased commercial risk associated with a defaulting mortgagor through the use of interest rates, given s. 8 of the Interest Act which reads as follows: "No fine, etc ...
On December 11, 2018, Pennsylvania Auditor General Eugene A. Depasquale released a long-awaited report discussing the role of pharmacy benefit managers (PBMs) in Pennsylvania’s health care system ...
[!<CDATA[ A recent decision by the Eleventh Circuit (the federal appeals court supervising trial courts in Florida, Georgia, and Alabama) sheds light on at least one way that insurers with complicated policies (and a host of exclusions) may avoid providing coverage and defense resources to insured material suppliers whose products are the focus of defect claims. In Morgan Concrete Company v ...
