United States: OFCCP Proposed Rules Could Have Dramatic Effect On Federal Contractors

On January 30, 2015, the Office of Federal Contract Compliance Programs (“OFCCP”) published a Notice of Proposed Rule Making (“NPRM”) that seeks to update its Sex Discrimination Guidelines (“Guidelines”) to mirror the law developed through legislation and court decisions since the last major overhaul in 1970. Federal contractors will find that most of the material in the NPRM is non-controversial and matches legal requirements they already face. However, if the revised Guidelines become effective, […]

By | February 16th, 2015 ||

Concerning Changes On Single Social Charge In Ukraine

On December 28, 2014 the Law of Ukraine no. 77-VIII “On Amending Certain Legislation Acts of Ukraine to Reform Mandatory State Social Insurance and Legalization of Payroll,” was adopted. The Law came into force from January 1, 2015 (“Law 77”). Law 77 restated the Law of Ukraine “On Mandatory State Social Insurance” and introduced a “simplification” of single social charge (“Single Social Charge”) by stipulating that from January 1, 2015 the rate of the […]

By | February 16th, 2015 ||

Australia: Lending money to your company to pay wages: leapfrogging the priority of other creditors in a winding-up

When a company is facing short term financial difficulties the directors or shareholders may decide to make a loan to the company to pay wages.

If the loan transaction complies with the requirements of section 560 of the Corporations Act 2001 (Cth) (Act), the third party making the loan to the company can, in the liquidation of the company, seek to be subrogated to the priority position enjoyed by employees in front of ordinary unsecured […]

By | February 15th, 2015 ||