1. Home
  2. |Insights
  3. |Defacto Debarment: Broad Contracting Prohibitions For Many Expatriate Corporations

Defacto Debarment: Broad Contracting Prohibitions For Many Expatriate Corporations

Client Alert | 1 min read | 07.10.09

On July 1st , the FAR Council issued a broad-reaching prohibition on using fiscal year 2006-2009 appropriated funds for contracting with any corporation (or subsidiary of a corporation) that is an inverted domestic for the purposes of the Internal Revenue Code (26 USC 7874) or would be considered an inverted domestic under the Code except for the fact that the inversion transactions were completed on or before March 4, 2003. This new rule contains a much broader prohibition on federal contracting than any previous statute or regulation, applying the tax law definition of inverted domestic (and eliminating the 2003 grandfather provision), instead of the ;narrower definition contained in the Department of Homeland Security statute (6 USC 395).

Insights

Client Alert | 4 min read | 04.03.25

Unfair Clauses in B2C and B2B Contracts: Be Aware of Different Sanctions

In recent years, there has been a wave of new legislation impacting contracts and contractual terms. The Belgian legislator is gradually adopting the different Books of our new Belgian Civil Code. Last February, a new proposal for Book VII on special contracts, including sale and loan agreements was submitted. Additionally, the Belgian Code of Economic Law has been updated several times, impacting the drafting of contracts and of contractual terms, not only between companies but also with consumers. ...