European Union: The Apple And FFT Cases: Possible Incompatible State Aid Through Tax Rulings

The European Commission recently published its preliminary decisions in the Apple (Ireland) and FFT (Luxembourg) cases. These decisions reveal the Commission’s concern whether particular advance pricing agreements (APAs) are compatible with European state aid rules. For this reason, the Commission has launched a formal investigation into these APAs.

Though an APA per se does not fall foul of the European state aid rules, the Commission considered whether an APA may, depending on its terms and […]

By |November 20th, 2014|

United States: Evolving Fiduciary Duty Of Foundations And Endowments

Directors, trustees and managers of foundations and endowments owe fiduciary duties to the organizations they oversee, similar to the fiduciary duties of directors at for-profit companies. However, foundations and endowments are different from for-profit companies in important ways, including their charitable mission and tax exempt status. Unlike fiduciaries of for-profit companies or pension trusts, fiduciaries of foundations and endowments owe legal duties of obedience to both the organization’s charitable mission and to the observation […]

By |November 20th, 2014|

United States: Supreme Court Will Hear Case On ACA Health Insurance Tax Credits

Daniel J. Arking is an Associate and Miranda A. Franco, Sr Public Affairs Advisor in our Washington DC office
HIGHLIGHTS:

The U.S. Supreme Court will hear an appeal of the Fourth Circuit’s opinion in the case of King v. Burwell.
A decision to invalidate tax credits would impact millions of Americans and could pose a significant challenge to the Affordable Care Act’s long-term viability.

On Nov. 7, 2014, the U.S. Supreme Court announced that it will hear the […]

By |November 19th, 2014|