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The Carey and Lloyds decisions point out that third parties subject to a freezing order must not unilaterally implement what is believed to be a practical application of the order without approval by the party obtaining the order and the court.

Norwich Pharmacal relief is an effective pre-judgment tool for victims in Hong Kong to gather the information necessary to identify the wrongdoers and to eventually freeze their assets.

State taxation of corporate partners in multistate partnerships raises interesting issues. In many circumstances, the corporate partner is subject to multistate taxation and is therefore engaged in the process of allocating and apportioning its income on a multistate basis. The difference between allocating and apportioning …

Despite the lack of reciprocal arrangements between the US and England, it is possible to enforce a US judgment in the English courts. The procedure to do so is quick and cost-effective. And, the reason to do so is primarily to recover assets to satisfy …

Enforcement against foreign assets in a US court has been difficult. However, the Middle District of Florida in Wells Fargo Bank v. Barber, 2015 WL 470589 (M.D. Fla Feb 4, 2015), showed how it is possible.

This is the myth that states are touting these days: market based sourcing is more easily administered and it levels the playing field between in-state and out-of-state businesses. A flood of states are jumping on the bandwagon. In the past week alone, the Tennessee and …

A foreign bank must have more continuous and systematic contacts with the US and have purposely demonstrated an intent to do business in the US to be subject to a US court?s jurisdiction.

State tax credits have been in existence since the 1980s and can be found in 46 states. The credits offer a "dollar-for-dollar reduction" of a taxpayer's tax liability. However, the problem encountered early on in the promotion of these credits was what to do if the credit could not be fully utilized by the taxpayer. Transferability allows tax credits to remain attractive to…

If a non-English creditor wants to enforce its foreign court judgment consideration needs to be given to the tests the English court will apply before it will recognize and enforce that judgment.

Another tax season is upon us, and the hardships of complying with another annual tax return filing requirement affects most of us. However, for same sex couples, the hardships are further exacerbated by the different tax laws at the state level.

Applicable as of January 18, 2017, a recently adopted European regulation facilitates cross-border debt recovery by enabling creditors to obtain a ?European Account Preservation Order? (the ?EAPO?) given by one judge in a member state and attach a debtor?s bank accounts in another EU member …

The focus was clarified recently as to when documents can be obtained from a foreign subsidiary of a US parent company involved in federal litigation.

A recent judgment of the Royal Court of Jersey shows how offshore fiduciaries and corporate service providers unquestioned loyalty can be very costly…

Increasingly, taxpayers are seeing the imposition of penalties on deficiency assessments. In fact in a number of situations the imposition of the penalty is automatic upon the issuance of the assessment. The penalties, which may range from 20% to 25% of the liability, are imposed …

If a foreign bank is located in the United Kingdom, it may be subject to providing discovery information of its account holders whose accounts may be located outside the United Kingdom.

Today, litigants are confronted with defendants who have sought to put assets beyond reach by moving them overseas, often into trusts or corporate structures in International Financial Centers. In response to the increasing internationalization of commercial fraud and a concern that their jurisdiction would gain …

On November 6th, those fighting for the right to gay marriage across the entire U.S. were dealt a heavy blow when the U.S Court of Appeals for the Sixth Circuit ruled against the practice of gay marriage in four states (Kentucky, Michigan, Ohio and Tennessee)…

Some have called it the most important state and local tax case that the United States Supreme Court has heard in 20 years. The case is Maryland v. Wynne and it concerns the extent to which a state must provide credits for taxes paid to …

A recent decision provides creditors a framework for determining when a court may exercise authority over assets located offshore or when a freeze of non-US assets can occur in New York…

The applicability of the Tennessee Taxpayer Bill of Rights to the Vodafone decision is not unique. In many cases, departments of revenue invoke alternative apportionment at a later stage than taxpayer bills of rights permit. Taxpayers should be wary of such treatment, and consider whether …

PURPOSE: POTENTIAL LIMITATIONS TO PRE-SUIT DISCOVERY IN THE US Texas, like five other states, allows for pre-action discovery to discover the potential wrongdoers in an articulated claim. Rule 202 of the Texas Rules of Civil Procedure authorizes a pre-suit deposition to investigate a potential claim. …

In a recent Private Letter Ruling (201438014), the IRS issued a taxpayer a triple-whammy…The moral of the story is that the tax issue could have been avoided by simply better coordinating the various parts of the client?s estate plan, including the IRA….

In Daimler AG v. Bauman, 134 S. Ct. 746 (2014), the US Supreme Court in January 2014 held that a corporation is not subject to personal jurisdiction merely because it ?engages in a substantial, continuous, and systematic course of business? in a forum. A corporation …

On August 4, 2014, the U.S. Tax Court issued a final decision in the case of Estate of Franklin Z. Adell v. Commissioner (T.C. Memo 2014-155). The case involved Franklin Z. Adell, deceased. At the time of his death, Franklin owned 100 percent of the …

The so-called ?sharing economy? has recently gained a lot of steam. This model, which helps owners of nascent high value assets pair up with possible users of those assets, has been cited among the most dynamic and exciting types of start-ups over the past few …