By Joel G. Young, JD, LLM With the complexity of the U.S. tax code, foreign persons may inadvertently trigger a withholding tax on the sale or disposition of U.S. real estate even when they are party to an otherwise tax-free reorganization. It is important for foreign individuals to understand the nuances of the Foreign Investment in Real Property Act (FIRPTA) and the ways in which they may avoid FIRPTA withholding tax on these and other types of transactions. The U.S. generally...

EIB Group President Nadia Calviño addressed this year's edition of Journée de l'Économie focusing on the AI technologies. Thank you very much for the opportunity to share some thoughts with you on an issue that I am quite interested in, where we are all extremely interested in. But not only my current position as president of the European Investment Bank, but also as my previous position as vice president of the government of Spain and minister for economy and digitalization. Normally, people have...

Key Developments from Washington, D.C. DEI EOs “Unblocked.” T. Scott Kelly and Zachary V. Zagger have the details on a decision by the U.S. Court of Appeals for the Fourth Circuit that will allow the federal government to enforce its DEI-related executive orders (EO) (EO 14151 and EO 14173) while a decision on the merits awaits appeal. This means that the federal government can once again, for example, require federal contractors to certify that they do not operate diversity, equity, and inclusion (DEI) programs...

Damages experts have been known to rely upon many sources of information in preparing their positions regarding how much to award in damages/royalties. However, a recent U.S. district court decision cautions that a damages expert must understand their sources of information. By extrapolation, this should apply to any expert witness. In a Memorandum Opinion issued on March 14, 2025, Judge Richard Andrews of the U.S. District Court for the District of Delaware ruled that the defendant’s damages expert opinion should...

European Commission unveils its White Paper on Defence to rearm the EU On Wednesday, 19 March, the European Commission unveiled its White Paper on Defence, setting out a vision to rearm Europe by ensuring the European defence industry can produce at the requested speed and volume; and facilitating rapid deployment of military troops and assets across the EU. The White Paper introduces plans for a true European defence union in which EU countries will remain in charge of defence, while benefiting from added EU benefits to strengthen...

At the March Federal Open Market Committee meeting, the Federal Reserve kept the policy interest rate unchanged and reiterated expectations of two rate cuts for 2025. Chairman Powell expressed considerable uncertainty regarding the new administration’s policies, noting heightened risks to growth, employment, and inflation. For commercial real estate (CRE) professionals, while current economic conditions remain robust, it’s important to acknowledge the potential downside risks in the macroeconomic environment that may affect business decisions. Economic Outlook The Federal Reserve's Summary of Economic Projections revealed...