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Business Restructuring Review | July-August 2021 - Insolvency/Bankruptcy/Re-structuring

Business Restructuring Review | July-August 2021 - Insolvency/Bankruptcy/Re-structuring
mondaq.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondaq.com Daily Mail and Mail on Sunday newspapers.

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jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.

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This week in history: May 17-23

This week in history: May 17-23
16 May 2021
Striking German workers in the 1990s.
On May 20-22, 1996, nearly two weeks of protest strikes against German Chancellor Helmut Kohl’s plans for $32 billion in cuts in the welfare state culminated in three days of mass action.
Involving over 100,000 public sector workers in the OTV union and 60,000 members of IG Metall, the strikes hit postal services, refuse collection and public transport in many major cities Cologne, Bonn, Berlin, Dusseldorf, Leverkusen, Bochum, Hanover, Leipzig, Weimar, Magdeburg and others. Hospital workers cut back services in Thuringia and Saxony. In Brandenburg, traffic on rivers and canals was disrupted by striking lock operators. ....

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Washington State's New Long-Term Care Statute Is a Mess – Can ERISA Preemption Provide the Cleanup? | Davis Wright Tremaine LLP

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Washington state has passed the nation s first public-operated, long-term care insurance program the Long Term Care (LTC) Act which is paid for by employees through employer withholding as a payroll tax. The statute is a compliance nightmare for employers, employees, and the state.
An added complication is whether the Employee Retirement Income Security Act of 1974, as amended (ERISA), preempts the ability of the state to regulate this area.
Tax Rate, Effective Date, and Benefit Amounts
The LTC Act imposes a mandatory payroll tax for all employees on all compensation including stock-based compensation without a cap, at a rate of .0058 of the employee s wages. While the payroll tax is effective as of January 1, 2022, no benefits are payable until 2025. The benefits payable are a maximum rate of $100 per day to a lifetime maximum of $36,500. ....

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Consol Can't Appeal Retirees' Bankruptcy Deal, 6th Circ. Says

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Consol Can t Appeal Retirees Bankruptcy Deal, 6th Circ. Says
Law360 (February 1, 2021, 10:46 PM EST) The Sixth Circuit ruled Monday that Consol Energy doesn t have standing to appeal a bankruptcy settlement between the defunct Murray Energy Holdings Co. and retirees who may seek to hold Consol liable for paying their health and employment benefits under the Coal Act.
In a 14-page published opinion written by Bankruptcy Appellate Panel Judge Tracey N. Wise, a unanimous three-judge panel held that the Canonsburg, Pennsylvania-based Consol Energy Inc. failed to meet the person aggrieved standard to challenge the deal because any Coal Act liability will be the result of future litigation rather than the current settlement. ....

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