Burr & Forman - Banking & Financial Services E-Note - JD Supra
December 2016 Holiday Greetings From Burr!
Making Headlines Payday Lenders Seek to Stop Regulators from Cutting Bank Services (Source: Pay Before, 2016-12-14) New License Will Allow Financial Tech Startups to Expand Banking (Source: Reuters, 2016-12-02) Small Businesses Finding Merchant Cash Advances Troublesome (Source: CNNMoney.com, 2016-12-01) Prepaid Debit Cards Will Get Overdraft Protection, With Caveats (Source: Post Bulletin, 2016-12-09)
From Tennessee, Mississippi, and Alabama, to Florida, Georgia and all the way from Delaware, all of us here at Burr & Forman would like to wish you and your family happy holidays. Enjoy our holiday card here. New Regulations Repeal Automatic Requirements for Form 1099-C Under No Payment For 36 Months Rule
What is an ATDS? The New Battleground in TCPA Litigation Since the FCC’s Declaratory Ruling The world of Telephone Consumer Protection Act (TCPA) litigation is constantly changing. With this evolution, new issues arise on almost a daily basis, challenging those prosecuting and defending these claims. A recent and increasingly litigated issue that both Plaintiff’s and Defense counsel agree will likely serve as the next battleground of TCPA litigation is whether calls are made using an Automatic Telephone Dialing System. Joshua Threadcraft has more on Burr's Telephone Consumer Protection Act (TCPA) Blog. Debtors Who Misuse Collateral Can Lose the Benefit of Discharging their Debt in Bankruptcy
Last month, the IRS issued final regulations repealing its rule requiring that a Form 1099-C be filed whenever a financial institution (or certain other limited taxpayers) fails to receive payment on a debt for 36 consecutive months. Treasury Decision 9793 was issued on November 10 and accompanied the publication of amended regulations issued under Code Section 6050P. Read the full alert here.
On November 21, 2016, in a case entitled In re Monson, the Eleventh Circuit Court of Appeals affirmed the Bankruptcy Court's decision, which held that a debtor's conduct constituted a willful and malicious injury to a creditor within the meaning of 11 U.S.C. § 523(a)(6), because the debtor injured the creditor's right to recover its loan, the injury was intended, and the debtor was conscious of his wrongdoing. Thus, the debt was nondischargeable under § 523(a)(6). Read the full alert here. For more information, contact Samantha A. Orender. Burr & Forman Advises Brentwood Partners on the Sale of K-MAC Holdings Corp. Private-equity investment firm, Brentwood Partners, announced the sale of K-MAC Holdings Corp. on December 20, 2016. Burr & Forman acted as Counsel for K-MAC, one of the largest Taco Bell franchisees in the country operating 271 Taco Bell restaurants, 17 KFC restaurants and 6 Golden Corral restaurants. After investing in K-MAC in 2011, along with partner Arlon Food and Agriculture Investment Program, Brentwood
For more information on this regulation or any other tax matter, please contact: Ed Brown, Jim McCarten, Josh Ehrenfeld, Allen Sullivan, Bruce Rawls and Warren Matthews.
and Arlon are exiting their ownership. K-MAC will continue operations under CEO Sam Fiori and President and COO Tina Reagan. To read the full story, please click here.
Employment Law Changes in the Trump Administration When Donald Trump takes office in January 2017 he will enjoy Republican majorities in both the House and Senate, which should allow him to take quick action on a number of employment law issues. Although there is some uncertainty regarding Trump's positions and priorities, it seems clear that the Trump administration will favor fewer regulations and will likely roll back certain employee-friendly initiatives pursued by the Obama administration.
CONSTRUCTION LAW CONSUMER FINANCE LITIGATION ENVIRONMENTAL LAW MATTERS INTERNATIONAL BUSINESS NON-COMPETE & TRADE SECRETS SECURITIES LITIGATION TCPA ADDENDUM TENNESSEE BUSINESS LITIGATION
Read the full alert here. For more information about upcoming legal changes in the Trump administration, or any other employment law questions, please contact Amy Jordan Wilkes or any Labor & Employment team member.
Burr & Forman Banking & Financial Services E-Note is a monthly e-mail service provided by Burr & Forman LLP. The physical address for correspondence related to this newsletter is: 171 17th Street, NW, Suite 1100, Atlanta, GA 30363. (404) 815-3000. You are subscribed to this list as: Please note: This electronic newsletter is provided to clients and friends of Burr & Forman. The information described is general in nature, and may not apply to your specific situation. Legal advice should be sought before taking action based on the information discussed. Applicable State Bar or Attorney Regulations May Require This Be Labeled as "Advertising."
Making Headlines Payday Lenders Seek to Stop Regulators from Cutting Bank Services (Source: Pay Before, 2016-12-14) New License Will Allow Financial Tech Startups to Expand Banking (Source: Reuters, 2016-12-02) Small Businesses Finding Merchant Cash Advances Troublesome (Source: CNNMoney.com, 2016-12-01) Prepaid Debit Cards Will Get Overdraft Protection, With Caveats (Source: Post Bulletin, 2016-12-09)
From Tennessee, Mississippi, and Alabama, to Florida, Georgia and all the way from Delaware, all of us here at Burr & Forman would like to wish you and your family happy holidays. Enjoy our holiday card here. New Regulations Repeal Automatic Requirements for Form 1099-C Under No Payment For 36 Months Rule
What is an ATDS? The New Battleground in TCPA Litigation Since the FCC’s Declaratory Ruling The world of Telephone Consumer Protection Act (TCPA) litigation is constantly changing. With this evolution, new issues arise on almost a daily basis, challenging those prosecuting and defending these claims. A recent and increasingly litigated issue that both Plaintiff’s and Defense counsel agree will likely serve as the next battleground of TCPA litigation is whether calls are made using an Automatic Telephone Dialing System. Joshua Threadcraft has more on Burr's Telephone Consumer Protection Act (TCPA) Blog. Debtors Who Misuse Collateral Can Lose the Benefit of Discharging their Debt in Bankruptcy
Last month, the IRS issued final regulations repealing its rule requiring that a Form 1099-C be filed whenever a financial institution (or certain other limited taxpayers) fails to receive payment on a debt for 36 consecutive months. Treasury Decision 9793 was issued on November 10 and accompanied the publication of amended regulations issued under Code Section 6050P. Read the full alert here.
On November 21, 2016, in a case entitled In re Monson, the Eleventh Circuit Court of Appeals affirmed the Bankruptcy Court's decision, which held that a debtor's conduct constituted a willful and malicious injury to a creditor within the meaning of 11 U.S.C. § 523(a)(6), because the debtor injured the creditor's right to recover its loan, the injury was intended, and the debtor was conscious of his wrongdoing. Thus, the debt was nondischargeable under § 523(a)(6). Read the full alert here. For more information, contact Samantha A. Orender. Burr & Forman Advises Brentwood Partners on the Sale of K-MAC Holdings Corp. Private-equity investment firm, Brentwood Partners, announced the sale of K-MAC Holdings Corp. on December 20, 2016. Burr & Forman acted as Counsel for K-MAC, one of the largest Taco Bell franchisees in the country operating 271 Taco Bell restaurants, 17 KFC restaurants and 6 Golden Corral restaurants. After investing in K-MAC in 2011, along with partner Arlon Food and Agriculture Investment Program, Brentwood
For more information on this regulation or any other tax matter, please contact: Ed Brown, Jim McCarten, Josh Ehrenfeld, Allen Sullivan, Bruce Rawls and Warren Matthews.
and Arlon are exiting their ownership. K-MAC will continue operations under CEO Sam Fiori and President and COO Tina Reagan. To read the full story, please click here.
Employment Law Changes in the Trump Administration When Donald Trump takes office in January 2017 he will enjoy Republican majorities in both the House and Senate, which should allow him to take quick action on a number of employment law issues. Although there is some uncertainty regarding Trump's positions and priorities, it seems clear that the Trump administration will favor fewer regulations and will likely roll back certain employee-friendly initiatives pursued by the Obama administration.
CONSTRUCTION LAW CONSUMER FINANCE LITIGATION ENVIRONMENTAL LAW MATTERS INTERNATIONAL BUSINESS NON-COMPETE & TRADE SECRETS SECURITIES LITIGATION TCPA ADDENDUM TENNESSEE BUSINESS LITIGATION
Read the full alert here. For more information about upcoming legal changes in the Trump administration, or any other employment law questions, please contact Amy Jordan Wilkes or any Labor & Employment team member.
Burr & Forman Banking & Financial Services E-Note is a monthly e-mail service provided by Burr & Forman LLP. The physical address for correspondence related to this newsletter is: 171 17th Street, NW, Suite 1100, Atlanta, GA 30363. (404) 815-3000. You are subscribed to this list as: Please note: This electronic newsletter is provided to clients and friends of Burr & Forman. The information described is general in nature, and may not apply to your specific situation. Legal advice should be sought before taking action based on the information discussed. Applicable State Bar or Attorney Regulations May Require This Be Labeled as "Advertising."
