Bankruptcy Court Lacks Power to Substantively Consolidate Nondebtor,...
In the wake of scandal-driven bankruptcies filed by nearly 20 U.S. Roman Catholic dioceses and religious orders, scrutiny has been increasingly brought to bear on the benefits and burdens that federal...
View ArticleNew Requirements for Colombia's National Registry of Databases
Interested parties are reminded that due to Decree 090 of Jan. 18, 2018, legal corporations and nonprofit companies with assets that exceed 610.000 Tax Value Units (TVU), equivalent to approximately...
View ArticleNuevos Requisitos para el Registro Nacional de Bases de Datos en Colombia
A todos los interesados se les recuerda que de conformidad con lo establecido mediante el Decreto 090 del 18 de enero de 2018, las sociedades y entidades sin ánimo de lucro que tengan activos totales...
View ArticlePublication of the Royal Decree on the UBO register
The Royal Decree on the operating procedures of the UBO register was published in the Belgian State Gazette last week. This much awaited Royal Decree describes the modalities and functioning of the UBO...
View ArticleCan Association Membership Be Tied to Professional Certification?
Talone settlement highlights the continuing risk nonprofit organizations face if they link membership to credentialing. - Antitrust class action targeted American Osteopathic Association’s practice of...
View ArticleIRS Publishes New Gift Substantiation Regulations
Last month, the IRS issued final regulations entitled “Substantiation and Reporting Requirements for Cash and Noncash Charitable Contribution Deductions,” codified as Treasury Regulation Sections...
View ArticleIRS Issues Guidance on UBTI Silos and Other UBTI-Related Tax Reform Provisions
In Notice 2018-67, issued August 21, 2018 (the “Notice”), the IRS has provided interim guidance – including rules on which tax-exempt organizations may rely pending proposed regulations – on...
View ArticleEmployee benefit arrangements potentially affected by revised UBIT calculations
In Notice 2018-67, released on August 21, 2018, the Internal Revenue Service (IRS) sought comments and provided interim guidance on changes in the calculation of unrelated business income tax (UBIT)...
View ArticleMore On Corporations Sole
Following yesterday's post, Professor Bainbridge directed me to a 2007 article that he co-wrote with Aaron Cole, The Bishop's Alter Ego: Enterprise Liability and the Catholic Priest Sex Abuse Scandal,...
View ArticleShould You Keep Your Ediscovery In House or Outsource It? Lessons From a...
Chelsea Perez, a paralegal at the Humane Society of the United States, came on board specifically to help the nonprofit formalize and streamline its ediscovery process. She’ll be speaking at this...
View ArticleTax-Exempts May Limit Fund Investments Pursuant to New IRS Guidance on UBTI
On August 21, 2018, the Internal Revenue Service (“IRS”) released Notice 2018-67 (the “Notice”), addressing issues relevant to tax-exempt organizations arising under new Section 512(a)(6) of the...
View ArticleUnhappy Shareholders Cannot Sue Willy-Nilly”
Owners of cooperative and condominium apartments have the right to bring derivative actions against their boards. Simply put, derivative actions allow a shareholder to sue on behalf of a corporation....
View ArticleBelgium: Nonprofit Associations and Foundations — The Ultimate Beneficial...
Are you a member of the board of directors of a nonprofit association or a foundation? Are you entitled to represent one? Or do you perhaps exercise control or are you affiliated in any other way? Be...
View ArticleBelgium: The Ultimate Beneficial Owner Register Effective 31 October 2018
Do you own more than 25 percent of the voting rights or share capital of a company? Do you have control over a company in any other way? Are you perhaps a senior managing officer within a company? Be...
View ArticleImpact Investing: A Growing Trend For Foundations On Both Sides Of The Pond
The last few years have seen an increasing number of foundations engage in a wide spectrum of impact investing i.e. investing to generate a social return and further their mission or a social purpose,...
View ArticlePersonal Planning Strategies - September 2018
With over a century of combined experience, the lawyers of Proskauer's Private Client Services Department regularly provide their diverse clientele – from business entrepreneurs and corporate...
View ArticleGovernor Green Lights Bill Authorizing Immortal Ex Officio Directors
California's Nonprofit Corporation Law embraces several different types of nonprofit corporations. Part 1 of the Nonprofit Corporation Law includes provisions that are applicable to three categories of...
View ArticleRemembering the Victims of 9/11: A Q&A with Timothy McGuirk, Communications...
Proskauer is a proud Corporate Member of the 9/11 Memorial & Museum. As an annual supporter, the Firm regularly shares the experience of the Memorial and Museum with its employees, clients, summer...
View ArticleThe New Principal (Purpose Organization) Question in the Ongoing Church Plan...
Last year, in Advocate Health Care Network v. Stapleton, the U.S. Supreme Court decided that a special type of “church plan,” intended to be exempt from Title I of ERISA and many Internal Revenue Code...
View ArticleNinth Circuit Court Of Appeals Reaffirms CA Attorney General’s Demand For...
A three-judge panel of the Ninth Circuit Court of Appeals recently upheld the position of the California Attorney General (AG) that charities located or doing business in California must provide a copy...
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