On Friday, September 23, 2016, the Office of Federal Contract Compliance Programs (“OFCCP”) announced yet another delay in the adoption of regulations setting forth new nondiscrimination and affirmative action requirements for covered federal contractors in the construction industry. Through responses to Frequently Asked Questions, the OFCCP said that new utilization goals for companies that contract to provide construction services to federal agencies would not be established because they, “would not likely increase the number of women and minorities gaining employment opportunities in the trades.”
Eleventh Circuit case law confirms that the court continues to be vigilant—as it is required to be—to ensure that it possesses subject matter jurisdiction under 28 U.S.C. § 1291 before hearing an appeal. When a litigant considers whether it should prosecute an appeal, it should start its analysis with the threshold issue of whether it can prosecute an appeal, that is, whether the Eleventh Circuit has the power to hear the appeal. With limited exceptions beyond the scope of this blog post, the Eleventh Circuit can only hear appeals of final orders or judgments, i.e., those which leave nothing for the trial court to do but execute judgment. Catlin v. United States, 324 U.S. 229, 233 (1945).
The Internal Revenue Service recently issued Proposed Regulations that could have a dramatic impact on estate planning and the succession of interests in family-controlled entities between family members by eliminating or severely restricting the availability of valuation discounts in connection with a variety of estate planning strategies. These discounts are frequently used to reduce estate and gift taxes.
Often, when businesses fail, they end up either in bankruptcy court as a chapter 7 debtor or in a state court liquidation proceeding such as an assignment for the benefit of creditors. In these instances, a fiduciary is appointed to wind-down the affairs of the business, liquidate assets, and pay allowed claims. In many situations the fiduciary is left with records which are either incomplete or in disarray and little money to pay the costs of administration. One often overlooked asset for easy recovery can be unclaimed funds. Unclaimed funds are deposits, insurance refunds, or other funds that have been remitted but which were never cashed or claimed. These funds are deposited with the State of Florida and wait until someone comes forward with a claim.