The EACC, in partnership with the International Property Tax Institute (IPTI), wants to keep its members up to date with the latest developments in property taxes in the USA and Europe. IPTI has put together below a selection of articles from IPTI Xtracts; more articles can be found on its website (www.ipti.org). United States New York: NYC office market faces ‘real estate apocalypse’ Dive Brief: Office valuations in New York City are forecasted to decline by as much as 39% by 2029 due...

Just how far can companies go in requiring in-person work? That is one of the critical questions facing European employers today, according to Littler’s fifth annual European Employer Survey. Drawing on insights from nearly 700 human resources executives, in-house attorneys, and business leaders, this year’s survey finds employers pulled in different directions as their desire to increase in-person work may conflict with the flexibility needed to attract and retain talent. The majority of European employers responding to our survey are either...

Changes in Europe that are Critical for Patent Holders After 45 years, the European Patent Office is replacing the existing regional patent system that has local enforcement with a new Unitary Patent (UP) system that has enforcement throughout Europe by a Unified Patent Court (UPC). Not only will Unitary Patents (UPs) be subject to the UPC, but existing European patents will also be subject to the UPC unless specific actions are taken. This long-awaited change is significant and alters the landscape...

Last week, the first jury trial under the Illinois Biometric Privacy Act (BIPA) resulted in a $228 million verdict in favor of the plaintiff and the class. The case, Rogers v. BNSF Railway Co., was filed in May 2019 and was pending in the U.S. District Court for the Northern District of Illinois. A class was certified in March 2022. Plaintiff alleged that BNSF unlawfully scanned his and other truck drivers’ fingerprints for identity verification when he and they visited...

On October 11, 2022, the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC) announced settlements with Bittrex Inc. (Bittrex). The settlements arise from violations of the Bank Secrecy Act—the federal law that imposes anti-money laundering (AML) requirements on financial institutions—and violations of OFAC's sanctions regimes. This matter represents the first time that FinCEN and OFAC jointly have penalized a money services business (MSB) for inadequately monitoring virtual currency transactions for suspicious and illegal activity....

Amongst the various measures provided by the so-called Labour Deal to improve employees’ work-life balance, is the alternating weekly working regime. In short, this system allows full-time employees to work more one week and less the following week. Part-time employees are excluded since the existing legal framework already allows them to organise their working regime in cycles that extend over more than one week in which periods with longer and shorter working hours alternate in a fixed order. Employer’s choice The draft Act...

We are thrilled to welcome our newest Senior Associate: Daniel Jason Ain. We are thrilled to welcome Daniel Jason Ain as the newest member of our Media and Entertainment and Employment Departments. Dan counsels production companies, independent producers, and talent on a broad range of projects across all stages of development and production. He brings to our firm years of experience representing talent in entertainment transactions, including in film, television, digital media, theater, live music, podcasts, literary publishing, and endorsements....

Cozen O’Connor served as U.S. and Canadian counsel in Investindustrial’s acquisition of a majority stake in Eataly S.p.A., the global chain of upscale Italian marketplaces. A team led by M&A attorney and Italy Practice Chair Christian Moretti conducted significant due diligence of more than 20 Eataly businesses in the United States and Canada, in collaboration with Deloitte Legal Italy and Studio Legale Chiomenti. For nearly two decades, Eataly has been operating high-quality Italian food markets and restaurant concepts in prestigious locations...