Category Archives: Uncategorized

Florida Judgment Interest Rate Increase to 5.35%, sort of.

Crowdfunding

Hamilton – Assouline & Berlowe – Business Law Firm – joint tax disclosure by US and Swiss governme

Florida has a very interesting way to keep track of the interest rate of a Florida judgment.  Unlike the old system that was in place, Florida requires a judgment holder to compute the interest rate of their judgment by the quarter of the year.  The interest rate is determined by Florida’s Chief Financial Officer.  So, it is possible that a judgment that is one year old may have more than one interest rate for the past one year period.

After being stuck at 4.75% from October 2011 to March 2016, Florida’s interest rate has been steadily creeping upward.  During the second quarter of 2017, Florida’s judgment interest rate was 5.17%.  Florida’s CFO has just announced that the new applicable interest rate for the third quarter of 2017 is now 5.35%.  Florida’s interest rate is now at its highest in 6 years.

Leave a comment

Filed under Arbitration, Bankruptcy, Business Litigation, commercial litigation, International, Uncategorized

Former U.S. Ambassador Discusses Technology & Miami as Global City

17342496_1208689185895819_5590382985365719749_n.jpg

Assouline & Berlowe Partner Peter E. Berlowe had the privilege of listening to firm friend Former U.S. Ambassador to Singapore Hon. Kirk Wagar speak last week at Pipeline Workspaces. Ambassador Wagar spoke about opportunities in South and Southeast Asia and how Miami can grow in to a truly global city.  In part, Ambassador Wagar discussed how driverless vehicles and related technology will begin to have far reaching implications for worldwide employment and economics over the next five to ten years.  Ambassador Wagar reflected upon the United States as the true world power, in part because of U.S. private business’ continued respect for business formalities and intellectual properties of the other countries in which they invest.  Pictured are Peter E. Berlowe, Hon. Kirk Wagar, and WLRN V.P. of News Tom Hudson.

For more information about the speech or related issues, please contact Mr. Berlowe at:

Peter E. Berlowe, Esq.

ASSOULINE & BERLOWE, P.A.

3250 Mary Street, Suite 100

Miami, Florida 33133

Main:  (305) 567-5576

Fax: (305) 567-9343

Email: PEB@AssoulineBerlowe.com

http://www.AssoulineBerlowe.com/

Intellectual Property, Labor & Employment Law, Real Estate, International Dispute Resolution, Commercial Litigation, Corporate Law, and Bankruptcy

Miami • Ft. Lauderdale • Boca Raton

Leave a comment

Filed under Arbitration, Business Litigation, commercial litigation, Intellectual Property, International, Uncategorized

Federal Stop to New Overtime Rules

Do Not Disturb

Six months ago, Partner and Florida Bar Board Certified Labor and Employment Attorney Ellen Leibovitch wrote to tell you about new overtime regulations that were to go into effect on December 1 (see below). However, on November 22, 2016, a federal judge in Texas issued a nationwide preliminary injunction which effectively put a stop to these rules – for now.

The injunction will preserve the status quo until the court decides the rule’s validity, a decision which will come weeks or months down the road and will likely be appealed in any event.

For employers, this ruling means that the new rules will not go into effect on December 1 and that the old regulations will continue to apply until further notice. Additionally, measures the employers planned in contemplation of the new rules going into effect on December 1 can be put on hold for the time being. Employers can decide if measures already taken in anticipation of the sweeping rule changes – such as raising the salary of exempt employees to meet the expected $47,476/year (or $913/week) threshold – should remain in place, although reversal of these changes may be met with employee backlash.

A note of caution: employers should not assume that the overtime rules will never go into effect. This situation is eerily similar to the rule changes made in 2015 regarding the companionship exemption under the Fair Labor Standards Act. In that situation, the Department of Labor announced changes which would render the exemption inapplicable to third party (home care) providers, then the federal court issued an injunction to prevent the changes from going into effect, then an appeals court struck down the injunction; and the changes eventually went into effect a year after the original date. Given the current political climate, your guess is as good as mine as to whether this same scenario will occur with respect to the overtime rules. As always, I will continue to keep you apprised of any developments.

Ellen is a Florida Board Certified Labor and Employment Attorney with Assouline & Berlowe, P.A.  For any employment and labor questions, please contact Ellen below.

ASSOULINE & BERLOWE, P.A.

1801 N. Military Trail, Suite 160

Boca Raton, Florida 33431

Main: (561) 361-6566

Fax: (561) 361-6466

Email: EML@assoulineberlowe.com

http://www.assoulineberlowe.com/

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, Real Estate, and Corporate Law

Miami • Ft. Lauderdale • Boca Raton

Leave a comment

Filed under Corporate Law, Labor & Employment, labor and employment law, Uncategorized

New Overtime Regulations Impacting You

 

 

br_1016_92

Board Certified Labor and Employment Partner Ellen Leibovitch will be speaking on October 20, 2016 about important changes to the overtime regulations under the Fair Labor Standards Act (FLSA) that will go into effect on December 1, 2016.  Ellen, who recently appeared in the Boca Raton Observer, will discuss what employers need to know about the changes to the FLSA to protect their companies.

Please join the South Palm Beach County Bar Association’s Labor & Employment Committee on October 20, 2016 for breakfast and a panel discussion on the scope of the new rules and best practices for making sure your business is fully compliant as of day one.  To register online, click here.

Ellen is a Florida Board Certified Labor and Employment Attorney with Assouline & Berlowe, P.A.  For any employment and labor questions, please contact Ellen below.

ASSOULINE & BERLOWE, P.A.

1801 N. Military Trail, Suite 160

Boca Raton, Florida 33431

Main: (561) 361-6566

Fax: (561) 361-6466

Email: EML@assoulineberlowe.com

http://www.assoulineberlowe.com/

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, Real Estate, and Corporate Law

Miami • Ft. Lauderdale • Boca Raton

 

Leave a comment

Filed under Business Litigation, Florida Bar, Labor & Employment, labor and employment law, Uncategorized

Ellen Leibovitch Named Outstanding Board Member of the Year

Ellen SPBCBA Board Award

During the South Palm Beach County Bar Association’s 55th annual installation gala on June 4, 2106 at St. Andrews Country Club in Boca Raton, partner Ellen M. Leibovitch was named “Outstanding Board Member of the Year.”  Ellen has served on the association’s board of directors for the past five years.  During the 2015-2016 term, Ellen co-chaired the association’s annual holiday party as well as the search committee to replace the association’s executive director.  Ellen has also served as the editor-in-chief for the association’s newsletter – The Advocate – for the past three years.  Ellen is also the board liaison to the association’s Labor & Employment committee which sponsored a CLE seminar in the Fall of 2015 on the new  Computer Abuse and Data Recovery Act.  Congratulations, Ellen!

Ellen is a Florida Board Certified Labor and Employment Attorney with Assouline & Berlowe, P.A.  For any employment and labor questions, please contact Ellen below.

ASSOULINE & BERLOWE, P.A.

1801 N. Military Trail, Suite 160

Boca Raton, Florida 33431

Main: (561) 361-6566

Fax: (561) 361-6466

Email: EML@assoulineberlowe.com

http://www.assoulineberlowe.com/

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, Real Estate, and Corporate Law

Miami • Ft. Lauderdale • Boca Raton

Leave a comment

Filed under Business Litigation, Corporate Law, Labor & Employment, labor and employment law, Uncategorized

Significant Changes to Overtime Regulations!

440872101_27a019a54c_o_d

Just this week, the Department of Labor (DOL) released its much-anticipated final changes to the overtime regulations under the Fair Labor Standards Act (FLSA). The new guidelines will go into effect on December 1, 2016, so now is the time for covered employers to start preparing.

What has changed?

Most significantly, the new rules change the salary requirements for exempt employees. Under the old rules, employees could be classified as exempt from overtime if they were earning a salary of $455/week (or $23,660/year) and if they performed exempt professional, managerial, executive or administrative duties. Under the new rules, however, employees must earn $913/week (or $47,476/year) – MORE THAN DOUBLE THE PRIOR SALARY LEVEL – to meet the salary component of the exemption. The salary threshold will automatically be updated every three years, so this is a moving target. Note that the final rule did not include a change to the duties test.

Also, the new rule raises the salary threshold level for the highly compensated employee (HCE) exemption from $100,000 to $134,004. To be exempt, a HCE must customarily and regularly perform any one or more of the exempt duties or responsibilities of a professional, managerial, executive or administrative employee and have the primary duty of performing office or non-manual work. Like the standard salary level, the highly compensated employee salary level will increase every three years, beginning Jan. 1, 2020.

What does this mean?

For exempt employees earning at least $913/week, nothing will change. However, employees who are now classified as exempt but who are earning less than $913/week will lose their exempt status as of December 1, 2016. Becoming non-exempt means that these employees will be eligible for overtime pay when working over 40 hours in a work week, which also means that these employees will be required to record their hours worked. For exempt employees who never “punched a clock,” this may be demoralizing, although some may welcome the opportunity to earn overtime.

Note that employers will be able to count non-discretionary bonuses, incentive payments and commissions toward as much as 10% of the salary requirement. However, such payments must be made on at least a quarterly basis.

IMG_6281

What should you do?

Step 1: EVALUATION

  • Determine which employees will be impacted by these new rules, if anyone.
  • Assess the cost of reclassifying these employees as non-exempt or increasing their salaries in accordance with the new guidelines to keep these employees exempt.
  • For employees who will be reclassified as non-exempt, no additional costs will result:
    • if the newly non-exempt employees do not work overtime. Remember that even if you have a policy that requires all overtime hours be approved in advance, non-exempt employees who work over 40 hours a week must be paid at the time and one-half rate.
    • if the hourly rate paid to the newly non-exempt employees is reduced to take into account the need for these employees to work some overtime hours each week.
  • Remember to train all newly-exempt employees on your time-keeping procedures.

Employers impacted by these new rules may need to consider covering increased overtime costs by reducing benefits, but this will certainly result in a drop in employee morale.

Step 2: COMMUNICATION

  • Notify impacted employees that changes are the result of new rules imposed by the DOL rather than a company decision
  • Assure reclassified employees that the changes do reflect the employer’s opinion of their work or the employees’ value to the company

As always, you should contact legal counsel for any specific questions you may have about the applicability of the FLSA to your business, these new rules and how to best implement same.

Ellen M. Leibovitch

Florida Board Certified Labor and Employment Attorney

ASSOULINE & BERLOWE, P.A.

1801 N. Military Trail, Suite 160

Boca Raton, Florida 33431

Main:  (561) 361-6566

Fax: (561) 361-6466

Email: EML@assoulineberlowe.com

http://www.assoulineberlowe.com/

Intellectual Property, Labor & Employment Law, Bankruptcy, Commercial Litigation, Real Estate, and Corporate Law

Miami • Ft. Lauderdale • Boca Raton

Leave a comment

Filed under Business Litigation, Corporate Law, Labor & Employment, labor and employment law, Uncategorized

PANAMA PAPERS – Subpoena Issued to Mossack Fonseca Regarding Daddy Yankee Assets

Miami Attorneys Issued a Subpoena to Mossack Fonseca, of the Panama Papers, regarding Daddy Yankee Assetsassouliene-vielleville-berlowe-2
4/12/16- Eric Assouline, Daniel Vielleville, and Peter Berlowe, with ASSOULINE & BERLOWE, P.A., Miami – Picture from Daily Business Review Article 4-14-2016 By AM Holt

 Keeping the whereabouts of your assets is ok, except when . . .

This is a burning question that has surfaced in light of the Panama Papers.  When is it ok to have off shore accounts?  The simple answer is when you do not owe anyone any money and after you have paid all the taxes that are due on the assets that you wish to keep secret.   See recent article by Real Estate and Corporate Law Partner David Blattner: Have the Panama Papers Taught Us Anything We Didn’t Already Know?

You cannot maintain a secret web of companies, with the intention of hiding this information from creditors to whom you owe money.  That is illegal.

You cannot transfer assets that would be subject to execution by a creditor to an off shore, or out of state company, in order to not pay debts that you owe.  That is illegal.

This is the basis of the investigation that has been opened up as to all the public figures mentioned in the Panama Papers.  Including noted celebrity Daddy Yankee.

In today’s Daily Business Review, South Florida’s prominent daily business paper, one of the headline stories regards Assouline & Berlowe, P.A.’s subpoena issued to Mossack Fonseca, the Panamanian law firm that has gained notoriety for opening off shore accounts for high profile individuals all over the world.

Through their subpoena, Assouline & Berlowe, on behalf of their clients, creditors of Daddy Yankee, are seeking financial information from Mossack Fonseca as to Daddy Yankee’s assets and financial affairs.

A link to the complete article is: http://www.dailybusinessreview.com/home/id=1202754983211/Panama-Papers-Reports-Show-Daddy-Yankee-Might-Have-a-Way-to-Pay-Millions-Owed?mcode=1202617073880&curindex=2

For more information regarding this case, please contact Daniel E. Vielleville, Peter E. Berlowe, or Eric N. Assouline.

assouliene-vielleville-berlowe-2

/12/16- Eric Assouline, Daniel Vielleville, and Peter Berlowe, with ASSOULINE & BERLOWE, P.A., Miami – Photo by Daily Business Review Photographer AM Holt 

 

Leave a comment

Filed under Business Litigation, Daddy Yankee, Mossack Fonseca, panama papers, Uncategorized