IRS Releases Proposed Rules on New Comparative Effectiveness Fee for Health Plans
On April 12, 2012 the IRS released proposed regulations regarding the collection of the fee for the Patient-Centered Outcomes Research Trust Fund (the “Fund”) under the Patient Protection and Affordable Care Act. The Fund will be used to pay for the Patient-Centered Outcomes Research Institute which has the goal of helping health care providers and consumers make informed health decisions by synthesizing research comparing the outcome effectiveness of various treatments. To learn more about proposed regulations, the plans that will be impacted and the fee, please click here to read the Alert published by the Employee Benefits and Executive Compensation Client Service Group on April 23, 2012.
The Absolute Priority Rule: An Endangered Species in Individual Chapter 11 Cases?
The absolute priority rule of Section 1129(b) of the Bankruptcy Code is a fundamental creditor protection in a Chapter 11 bankruptcy case. The rule implements the general state-law principle that creditors are entitled to payment before shareholders unless creditors agree to a different result. Recent litigation has raised the issue of whether the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which otherwise is a very creditor-friendly statute, modified the Bankruptcy Code in such a way as to eliminate the absolute priority rule if the debtor is an individual. For a discussion of the issue, please click here to read the Alert published by the Bankruptcy, Restructuring and Creditors’ Rights Client Service Group on April 9, 2012.
Estate Planning in 2012
Generally, there are three basic goals of estate, generation skipping transfer and gift tax planning: (1) the reduction of estate and gift taxes upon transfer; (2) the deferral of the estate, generation skipping transfer and gift tax burden; and (3) ensuring for the necessary liquidity to pay the taxes when they become due. As a result of the present low interest rates and the drop in value of most types of assets, there may be opportunities to engage in some estate planning that may not be available to clients when interest rates rise and values are driven higher. To learn about how to take advantage of these opportunities in 2012, while we are sure we have them, please click here to read a memorandum published by Bryan Cave’s Private Client Group on April 10, 2012.
Data Breaches: Will You Be Sued, And Can You Lower Risk?
According to a widely reported study, 90% of organizations have had at least one data breach in the last year and almost 60% had two or more breaches over the year. In light of headlines describing multimillion-dollar data security breach settlements, it is no surprise that businesses fear the worst. For a discussion of the litigation risks, range of liability and how businesses can lower the risks associated with security breaches, please click here to read an article written by the Data Privacy and Security Team attorneys and published in Law 360 on April 25, 2012.