What’s New in Business?
Update: Attention Brides! David’s Bridal has filed for Chapter 11 Bankruptcy
A Chapter 11 bankruptcy case has been filed in Delaware by Conshohocken PA based wedding gown retailer David’s Bridal Inc. A Chapter 11 plan was filed with its Chapter 11 petition, so that this “pre-packaged bankruptcy case” should go through a speedier approval process than a regular bankruptcy case, as all major creditors have already agreed…
Read MoreWBLA’s Inaugural Trek to NY Law Firms!
I am so excited to help launch the Wharton Business Law Association’s first trek to visit New York law firms! Thanks and kudos to my sister network Women Owned Law hostess attorneys — Wendy Schwartz of Binder & Schwartz, Nancy Mertzel of Mertzel Law PLLC and Helene Pangalos of The Law Office of Helene Pangalos —…
Read MoreFacebook, Google Face Billions in New Taxes in the U.K. & Across Asia, Latin America
There is now a growing international trend to impose revenue based taxes on technology giants rather than their profit. The U.K. just announced a 2% tax on revenue. South Korea, India and other Asian-Pacific countries are exploring these taxes, as are Mexico, Chile and Latin American countries. These taxes seek to capture revenue from digital…
Read MoreForeign corporations are fair game for suit in PA!
In a case of first impression, a PA court has held that a foreign corporation registered to do business in PA has effectively consented to be sued in the state. This makes perfect sense, as registration in a state is a form of consent to the jurisdiction of its courts and application of its laws. …
Read MoreShould business entities be accountable to their employees in addition to their owners?
Senator Elizabeth Warren, a consumer advocate, has proposed a law that would require corporations to be responsible to employees and other stakeholders beyond the mantra of “maximizing returns to shareholders only”. She argues that this law would benefit the holistic ecosystem of the corporate entity, its workers and owners, as well as the overall market.…
Read MoreNon-Compete Clauses Survive Chapter 7 Bankruptcy of a Business Owner-Seller
A recent court decision has found that the buyer of a company can enforce a non-compete violation by the seller that occurs after the seller files for bankruptcy and is also fired by the buyer. The court held that this claim is not discharged in bankruptcy, because it arose after the bankruptcy filing of the…
Read More