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The article discusses the liability of the beneficiary's bank for cybercrime involving fraudulent funds transfers in the U.S. Topics include the most pervasive form of cybercrime involving fraudulent funds transfers, liability of the beneficiary's bank for misdescription of beneficiary, and liability found for the beneficiary's bank under Uniform Commercial Code (UCC) Section 4A-207.

The article deals with the approval by the Corporate Laws Committee of the American Bar Association (ABA) Business Law Section of proposed amendments to section 2.02 to permit a corporation to include in its articles of incorporation a provision to eliminate or limit the monetary liability of specified corporate officers. Topics include general classes of provisions relating to the business or affairs of the corporation that may be included in the articles and basic tenet of corporation law.

The article explores legal developments involving personal property secured transactions. Topics discussed are scope of Article 9 of the Uniform Commercial Code (UCC) relating to the outright transfer of ownership and an interest to secure an obligation, requirements for a security interest to attach to collateral, methods of perfection of a security interest, first-to-file-or-perfect rule on determining priority perfected security interest, security interest enforcement and debtor liability.

Bidding procedures orders entered by bankruptcy courts typically state that offers attempting to top a stalking horse bid must be "higher and better" than any competing bids. Offers have been found to be "better" even though they have a lower cash "headline" dollar value, where (1) the lower cash offeror also agrees to assume certain liabilities; (2) the lower cash offeror can close more quickly, resulting in a reduction of the debtor's cash burn; or (3) the lower cash offeror is more certain to close because the higher offer contains a financing contingency, the need to complete due diligence, potential antitrust issues, proposed closing requirements that the debtor cannot meet, or other delays that take the debtor beyond its available liquidity. Every one of these long-recognized rationales can be conceived of as an argument that what seems higher might not actually be higher. If the lower bid assumes certain liabilities, or closes a month sooner so as to stem operating losses, it might be higher on a net basis. The closing risk cases present a similar economic paradigm: a theoretically higher offer will not actually be higher if the deal never closes. One could therefore conceive of the analysis as still asking what is the higher offer, this time on a risk-adjusted rather than a net basis. But can an offer be considered better even if there is no way to characterize it as higher or providing the best economic outcome for the estate, but it saves more jobs than the higher offer? The only reported opinion addressing this issue is dicta in a twenty-sevenyear-old case. But the theory has been asserted in recent bankruptcy cases, especially in the current environment when so many people are out of work. This article explores what standards a court should apply if faced with this argument and analogizes to fiduciary duty caselaw in the field of mergers and acquisitions of solvent corporations organized in states that (unlike Delaware) have a constituency statute, thereby permitting the court to consider what is in the best interests of constituencies other than just stockholders. The article also explores how these issues would be analyzed if the entity is a public benefit corporation, or if the Protecting Employees and Retirees in Business Bankruptcies Act of 2020 were adopted. [ABSTRACT FROM AUTHOR]

The article talks about the probation practices in Rutherford County, Tennessee violating the U.S. Constitution, the Racketeer Influenced and Corrupt Organizations Act (RICO). It mentions the history and contractual implementation of user-funded probation monitoring and contextualizes its use within the larger picture of mass incarceration in the U.S. It also analyzes the liabilities associated with practice and shows how ubiquity undermines economic & logistic goals.

This article addresses current limitations of financial-market-based solvency tests by proposing a simple balance-sheet solvency test for publicly traded firms. This test is derived from an elementary algebraic relation among the inputs to the balance-sheet solvency calculation. The solvency test requires only the assumption that the market value of assets equals the sum of the market value of the firm's debt plus the market value of the firm's equity. The solvency test is a generated upper bound on the total amount of debt the firm can have and still be solvent or, alternatively, the minimum amount of stock-market capitalization the firm must have if it is solvent at current debt prices. The virtue of the method-apart from its ease of implementation-is that it makes possible the detection of balance-sheet insolvent firms notwithstanding the possibility that not all of the firm's liabilities-including hard-to-quantify contingent liabilities-can be identified. As a result, the method allows for the detection of balance-sheet insolvent films that otherwise might escape detection. The method proposed here can identify insolvent firms that should be retaining assets and not paying them out to shareholders as dividends or repurchases, identify stocks that brokers and investment advisers should treat as out-of-the-money call options that may be unsuitable investments, and can help auditors identify publicly traded firms that are candidates for going-concern qualifications and other disclosures. [ABSTRACT FROM AUTHOR]

The article discusses cross species merger statutes of the U.S. which allows one form of business organization to merge with another form of business organization. It presents information on the concerns related to the U.S. federal income tax for such conversions. It informs about cases related to limited liability companies (LLCs) with more than one member that are classified as partnerships for federal income tax purposes, and depicts the impact of liabilities on incorporation transactions.

The article discusses the revised lease accounting rules of real estate and equipment leases undertaken by the International Accounting Standards Board and the U.S. Financial Accounting Standards Board. It aims to increase transparency and investor understanding of assets and liabilities that arise in the lessee's and the lessor's public statements of financial position. Further it mentions several court cases that are concerned with the true lease and a sale with a retained security interest.

The article offers information on the amendments made to the False Claims Act (FCA) in the U.S. for recovering funds lost to fraud or abuse. It states that the U.S. Senate and the House of the Congress had put forward several amendments including expansion in the scope of reverse false claim provision to prevent concealing obligation to pay the government, revising the definition of claim and obligation. However, the expansion of the subsection to reach contingent liabilities was not accepted by the Congress.

The article tries to solve the question whether Purchase Model or Fee Model should be applied in the scenario where a taxpayer undertakes an obligation or assumes a liability and in exchange receives property. It mentions that in an income tax system that ignores contingent liabilities, there is no right answer to the question. It also states that tax courts should not conclude which model is to be used and concludes that an approach where several factors are weighed properly should be used.

The article analyzes the section 357(c) of the U.S. tax rules and determines which of the competing methods and underlying constructs is more appropriate according to tax rules and in particular those relating to nonrecognition. It is stated that an exception to tax-free treatment is contained in section 357(c), which generally provides that a transferor in a section 351 transaction recognizes gain to the extent that any liabilities assumed by the corporation on the transfer exceed the transferor's aggregate adjusted basis in the assets transferred. It also explores the section 357 of the taxation rules and related provisions applying to transfers of property to controlled corporations, along with the policies and principles underlying these rules.

The article reports that in general, no gain or loss is recognized by a shareholder who contributes property to a controlled corporation solely in exchange for stock of that corporation. If the contributed property is encumbered by liabilities, tax-free treatment is again generally permitted. When, however, the shareholder is relieved of liabilities in excess of such shareholder's basis in the contributed property, section 357(c) requires the shareholder to recognize any realized gain up to the amount of such excess. The shareholder could contribute to the corporation either additional cash or property having sufficient tax basis in order to avoid the recognition of section 357(c) gain.

Discusses the controversy surrounding the adoption of the revived Private Securities Litigation Reform Act (PSLRA). Imposition of heightened pleading standards for scienter; Details on the deterrent effect of the antifraud rules; Impact of PSLRA on gatekeeper liability.

Discusses section 313 of the United States Community Renewal Tax Relief Act of 2001 which deals with the technical corrections made to the Internal Revenue Service Restructuring and Reform Act of 1998 including Code section 6015. Information on relevant court cases and rulings; Discussion of Alimony and property transfers; Information on relief from liability on joint return.

Highlights the legislation on corporate taxation in the United States (US). Amendment made at Section 3004 of the Tax and Trade Extension Act of 1998 to narrow the definition of specified liability losses in the US; Changes made by the Internal Revenue Service Restructuring and Reform Act of 1998 about the ruling on incorporations and capital structure; Tax-related cases and rulings.

Explores the implications of Central Bank of Denver from the vantage point of the practitioner in Colorado in the United States. Identification of future litigation related to alternative theories of liability; implications of theories on parties charged with aiding and abetting securities fraud; Effect of aiding and abetting liability to professionals sued.

Focuses on judicial developments concerning the liability of financial institutions and automated teller machine (ATM) networks on crimes perpetrated at ATM networks in the United States. Presentation of cases related to the issue; Details of the case filed by Popp against Cash Station Inc.; Decision of the court regarding the case.

Focuses on the creditor list screening practices under the Fair Credit Reporting Act and the Equal Credit Opportunity Act in the United States. Deletion of obsolete information on less credit worthy persons; Arguments on prima facie case of discrimination; Liability of screening practices.

Focuses on the substantive consolidation for bankruptcy proceedings in the United States. Combination of assets and liabilities as one entity; Suggestion for analytical model in deciding the substantive consolidation; Impact of consolidation on the bankruptcy estates.

Examines the contingent pension liabilities in the sale of a business in the United States. Benefits of the pre-Employee Retirement Income Security Act of 1974; Responsibilities of the seller and purchaser for such liabilities; Discussion on contingent liabilities in the context of overall statutory scheme.

Focuses on the responses of lawyers to request of auditors for information in the United States. Reexamination on the definitional premises for the term contingent liability; Confidentiality of lawyer-client communications; Role of lawyers in the audit process.

Presents the report of The Section of Corporation, Banking and Business Law of the American Bar Association chairman in United States as of April 1975. Re-examination of the bases of Contingent Liability; Formulation of guidelines for public policy of lawyer-client relationship; Nominations received by Nominating Committee.

Reports the responses of lawyers to the request of accounting profession for information on contingent liability of corporate clients. Implications for lawyers in dealing with auditors' inquiries; Proposal of resolution on corporate financial statements; Emphasis on the proposed guidelines on the revised exposure draft.

Reports developments on taxation laws by the Committee on Sales, Exchanges and Basis of the Section of Taxation in the United States. Treatment of liabilities incurred in anticipation of an exchange; Regulations on the treatment of multiple asset exchanges; Provision of safe harbors for deferred exchanges.

Focuses on the tax treatment of contingent liabilities in taxable asset acquisitions in the United States. Distinction between buyer and seller of asset; Valuation of the contingent liabilities on the acquisition date; Development of pension plan liability.

Discusses contingent debt obligations based on stock performance in the United States. Examination of Revenue Ruling 88-31; Conflicts with existing tax law resulting to the treatment of contingent debt obligations as equity securities; Proposal excluding the hold of the ruling on contingent debt obligations.

Focuses on the regulations for long-term liabilities in the United States. Deductions of expenses by accrual-method taxpayers; Effects of inflation on the discounting requirements; Achievement of fairness on long-term liabilities to taxpayer and Department of the Treasury.

Presents cases and rulings of the Committee on Liens, Levies and Limitations of the Section of Taxation of the American Bar Association. Enforcement of liability for taxes due by a transferror against the transferee; Defense of the fourth amendment rights of taxpayers subjected to administrative collection procedures.

Reports developments of the Committee on Civil and Criminal Tax Penalties of the Section of Taxation of the American Bar Association as of June 1977. Penalties for understatement of taxpayer liabilities; Requirements for performing jeopardy assessments; Rule for the production of bank records.

Focuses on the imposition of liability for taxes owed by taxpayer on the transferee of assets. Background on the concept of the transfer liability; Implication of the state laws for the imposition; Analysis of the extent of liability in the cases imposed.