воскресенье, 15 июня 2025 г.

Expenses for efficiency measures are considered incurred "to acquire and retain income" and are therefore deductible

 

Tokenization: Unlocking Illiquid Assets and Revolutionizing Market Efficiency

 

The appointment comes in response to a staggering 420% increase in the number of insolvency cases involving cryptocurrency

 

The tax authority takes into account which assets remained to fulfill the obligation in the event of reorganization/Налоговый орган учитывает, какие активы оставались для исполнения обязательства в случае реорганизации

 

четверг, 12 июня 2025 г.

Annulment Clauses

 

The parties signed a contract for the sale of real estate. The contract stipulated a due diligence procedure before closing. The contract also included a provision for automatic termination if encumbrances were detected that the seller could not remove.

Understanding Certificates of Pending Litigation in Ontario

 

A Certificate of Pending Litigation (CPL), formerly known as a "lis pendens," is a crucial tool in Ontario's legal landscape. It acts as a public notice that a lawsuit concerning title to, or an interest in, a specific piece of real property is currently underway. This article will delve into the intricacies of CPLs in Ontario, exploring their purpose, application, implications, and the process involved in obtaining and removing them.

вторник, 3 июня 2025 г.

The incident involving exploding acetylene and oxygen gas cylinders


 

The Court of Appeal has upheld a decision to impose half of a million Australian dollars  in penalties on a Company for a 2017 incident involving exploding acetylene and oxygen gas cylinders. The explosion happened when these cylinders were loaded into a fully enclosed toolbox in a customer's ute, which went against safety instructions, leading to injuries and property damage. The Company lost its defense in the lower court, where it was found that the company failed to ensure safe work practices. 

суббота, 31 мая 2025 г.

The court allowed one party to a contract to unilaterally extinguish his contractual obligation


The sole member of an LLC asked his friend to invest in the LLC by acquiring a share in it. The friend replied that it would later be difficult to sell the share at a favorable price. Then, the friends entered into an oral agreement that stipulated the repurchase of the share at a price to be calculated according to certain financial indicators. Five years later, the friend asked to have his share in the LLC repurchased, but was refused. Subsequently, the court established that the LLC's management agreement had been duly amended unilaterally to include a clause stating that all prior oral agreements were void. The court denied the claim, acknowledging that it allowed one party to a contract to unilaterally extinguish his contractual obligation.

The inherent difficulty in liquidating shares of LLC


 

The inherent difficulty in liquidating shares of a limited liability company (LLC) stems from several factors:

The court allowed limited production from a company

 

Delaware’s Chancery Court allowed limited production from a company in response to a broad request for document inspection, despite serious claims of fraud against the CEO. The petitioner was a former senior vice president and director. He claimed to have discovered fraud related to invoicing while working with the company and was terminated after voicing his concerns. The court accepted the company’s offer to provide  all formal Board level materials concerning audit function and financial oversight of the Company and practices related to customer invoices and its current written policy and procedure documents related to finance, accounting, and customer invoice functions.


четверг, 29 мая 2025 г.

When Off-the-Clock Conduct Costs Your Job: Pawelczyk v Commonwealth Bank of Australia

 


The lines between work and personal life are increasingly blurred in the age of smartphones and constant connectivity. But does what you do outside of office hours ever impact your job security? The recent case of Pawelczyk v Commonwealth Bank of Australia (2024), decided by the Fair Work Commission (FWC), serves as a stark reminder that out-of-hours conduct can indeed lead to dismissal if it has a sufficient connection to one's employment.

The fraud perpetrated by the senior management is beyond the scope of the audit responsibilities


Ernst & Young (EY) is facing a $2.6 billion negligence claim brought forth by the administrators of NMC Health, a private healthcare group that collapsed following a massive accounting scandal. In its defense, EY argues that the scale and sophistication of the fraud perpetrated by NMC's senior management went beyond the scope of its audit responsibilities, likening the situation to a meticulously constructed "Truman Show."