Member Briefings

• The Iranian sanctions have widespread impact on project industry. New York Partner Daniel Pilarski, examines the impact of the US sanctions on Iran the projects industry (especially as relating to the petroleum sector) in the American Journal of Transportation.

• Marshall Islands Bearer Shares Deadline Approaching. This briefing highlights an urgent obligation applicable to the holders and beneficial owners of bearer certificates of Marshall Islands corporations.

• Duties Owed By Mortgagees Of Ships When Exercising Their “Power Of Sale”. Charles Buss, John Kissane and David Osborne discuss the recent English Admirality Court decision in Close Brothers v (1) AIS (Marine) 2 Limited (2) Paul Chandler.

• IRS Update: Does your partnership agreement need to be revised?
  The recent regulations on the designation and authority of a partnership representative means existing agreements may need revision. Brad Albin from USTAXFS explains.

• Trust Structure Complexities
  Non-US trusts may create tax and reporting obligations for US persons which are different from US trusts. Sarjul Patel from USTAXFS outlines the minefield to avoid big penalties.

• IRS: Pay Up or Lose Passport
  The IRS has earmarked the names of more than a quarter of a million people who are in jeopardy of losing their US passport if they don't comply with filing tax returns. Sam Hallowell from USTAXFS recaps the facts.