The payroll tax cut extension signed into law earlier this week also contains some significant unemployment insurance reforms, which were strongly supported by ASA. Language in the new law overturns a U.S. Department of Labor ban on states’ screening and testing UI applicants for illegal drugs. States have also been given unprecedented flexibility in how they can use UI benefit funds for promoting pro-work reforms, and—for the first time ever—national job search requirements have been established for everyone collecting state and federal UI benefits.
Ortoli | Rosenstadt: What Exactly Is a Seller Responsible for When Selling Its Staffing Firm?
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.