Deemed Trust for Unremitted Withholdings Trumps Interim Financing Charge in Recent Nova Scotia Supreme Court Decision In the recent decision of Rosedale Farms Limited, Hassett Holdings Inc., Resurgam Resources (Re) (“Rosedale”), the Supreme Court of Nova Scotia held that a deemed trust for unremitted withholdings under sections 227(4) and 227(4.1) of the Income Tax Act (Canada) had priority over a charge for interim financing granted by a court pursuant to section...… Continue Reading
Wet Seal – Preference Actions Filed On August 29, 2017, The Wet Seal, LLC filed preference actions against 67 defendants.  The lead Wet Seal bankruptcy case is Case No. 17-10229 in the Bankruptcy Court for the District of Delaware.  Wet Seal is represented by A.M. Saccullo Legal, LLC and ASK, LLC. According to the complaints, the Debtors were a national multichannel specialty retailer...
EPA Approves Emergency Fuel Waiver for Areas in Louisiana in Response to Hurricane Harvey By Lauren J. Rucinski On August 28, 2017, the Environmental Protection Agency (“EPA”) approved an emergency fuel waiver for areas for Louisiana affected by Hurricane Harvey. The waiver is an effort to minimize or prevent problems with the supply of gasoline. Sixteen parishes in the state are required to sell low Reid vapor pressure (“RVP”)... Continue Reading...
Louisiana Department of Natural Resources Authorizes Relief Including After the Fact Coastal Use Permit Process for Emergencies Resulting from Hurricane Harvey By Maureen N. Harbourt Effective August 25, 2017, the Secretary of the Department of Natural Resources authorized the performance of activities within the Louisiana Coastal Zone necessary to prevent or to mitigate damages associated with Hurricane Harvey.  In the event that new construction is needed for such purposes, an after-the-fact Coastal Use Permit application might... Continue Reading...
Scientific Testing – Talc Example Talc litigation is providing yet another example of the reality that product liability litigation can be complicated by multiple parties seeking access to limited amounts of materials. The materials may be biopsy materials from people or samples of products. An August 28, 2017 article from LAW360 provides the headline story, with a couple of quotes below.  J&J...… Continue Reading
Model Reorg Acquisition, LLC Files for Bankruptcy in Delaware On August 26, 2017, Model Reorg Acquisition, LLC, and eighteen of its subsidiaries and affiliates (collectively, “Model Reorg” or “Debtors”), filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (No. 17-11794). The Debtors, which primarily operate under the brand “Perfumania”, comprise the largest...