U.S. Courts News Reporter
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Tuesday’s argument in Truck Insurance Exchange v. Kaiser Gypsum Co. considered a technical question under the Bankruptcy Code, how to decide when an entity is a “party in interest” under the statute, which gives it a right to “be heard on any issue” in a Chapter 11 proceeding. The debtor, a failed asbestos company, claims that it will perform its insurance contracts in full: It will pay all the deductibles it owes, 100 cents on the dollar. Accordingly, it … Read the rest
The Hon’ble Income Tax Appellate Tribunal (“ITAT”), Delhi has recently held that salary reimbursement of seconded employees paid to the original employer without any profit element is not taxable as fee for technical services.
This case[1] pertains to Ernst and Young LLP, USA (“EY USA”), which is set up in the US. It had sent its employees on secondment (“Seconded Personnel”) to work with various EY member firms in India (“EY India”). … Read the rest
Officials investigating a deadly outbreak in Austria have found Listeria at the company thought to be responsible.
Listeria isolates with the same genetic fingerprint as the outbreak strain were detected in three environmental samples from the firm in Lower Austria.
Käserei Gloggnitz previously recalled all kajmak, drinking yogurt and cream cheese products because of potential Listeria monocytogenes contamination. Kajmak is a type of cheese.
The Listeria strain behind the incident does not match any of those in the AGES Listeria … Read the rest
(United States Second Circuit) – Affirmed. Plaintiff brought class action suit against Defendant, Coca-Cola Company alleging misleading naming and marketing of “Diet Coke”. District court dismissed all claims under Federal Rule 12(b)(6). Appeals court that the adjective “diet” referred to caloric content and carries a relative meaning and not an absolute meaning.
FindLaw Opinion Summaries – Class Action
As has been widely reported, the recent energy price volatility (coupled with the price cap limiting suppliers’ ability to pass increased costs on to consumers) has caused a number of energy supply company failures. Yesterday saw the announcement of the collapse of Bulb, one of the UK’s largest energy suppliers, with it being due to be placed into special administration very shortly.
This is the first energy special administration we’ve seen. So how are the insolvency rules different for energy … Read the rest