By Chrys Martin, Davis Wright Tremaine
Garnishment is a legal process by which an employer must withhold funds in its possession belonging to an employee and send them to a creditor. However, some direct tips are never in the employer’s possession, and accordingly are not likely subject to garnishment.
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By Ryan Maughn, Davis Wright Tremaine
Restaurant businesses depend on private investors for capital. Fledgling restaurants need the funds to pay startup costs, while more established restaurants need it to expand, renovate, and maintain adequate working capital. Whether you interpret them as an appropriate correction to protect investors or an unnecessary restriction on the flow of private investment, recent amendments to securities regulations proposed by the U.S. Securities and Exchange Commission will undoubtedly make it more difficult for restaurants and other businesses to get that much-needed capital.
The sale of equity to private investors triggers requirements under state and federal securities laws. Issuers must either register the securities or sell them in reliance on an exemption. On Jan. 25, 2011, the SEC proposed amendments to its rules in order to comply with the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which changed certain rules governing private and other limited sales of securities exempt from the registration requirements of the Securities Act of 1933.
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By Sarah Bhagwandin, Davis Wright Tremaine
On Jan. 31, 2011, yet another federal district court, this one in Virginia, ruled that the individual mandate to purchase health insurance in the Patient Protection and Affordable Care Act of 2010 (the “Act”) is unconstitutional. That makes three for two: three federal courts that have ruled in favor of the constitutionality of the individual mandate in the Patient Protection and Affordable Care Act that each individual citizen obtain a government-approved level of health insurance or pay a penalty tax, and two federal courts that have ruled against it.
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