On December 23, 2024, the Fifth Circuit Court of Appeals granted a stay of the district court’s preliminary injunction (Texas Top Cop Shop, Inc. v. Garland, No. 24-40792 (5th Cir. 2024)) that temporarily reinstated compliance requirements under the Corporate Transparency Act. However, three days later, on December 26, 2024, a separate panel of judges from the same Court issued an order vacating the stay of the preliminary injunction granted on December 23. As a result, reporting companies are not currently required to file Beneficial Ownership Information Reports with FinCEN and are not subject to liability if they fail to do so while the order remains in place.

Over the course of this month, there have been multiple rulings by the courts regarding compliance requirements under the Corporate Transparency Act. We are closely monitoring this situation and will share updates on our Corporate Transparency Act webpage as new details become available. If you have any questions or would like to discuss how this recent ruling affects your company, please contact Catherine Than or Hector Delgado.

Partner Catherine Than was recently elected to the position of President Elect of the National Conference of Vietnamese American Attorneys (NCVAA), which holds its annual conference June 27-28 in Orlando, Florida. Catherine has been associated with the NCVAA for several years and has served on the Board of Governors and as the National Conference Co-Chair previously. In addition to serving on the Executive Board,  Catherine is once again serving on the group’s Conference Committee.

Catherine is a seasoned business attorney who represents companies in commercial disputes. She advises businesses regarding contract negotiations and contract disputes and prosecutes and defends claims of tortuous interference with contract, breach of contract, breach of fiduciary duty, negligence, and fraud. Her clients include small and large corporations in a variety of industries, including banking, financial, accounting, mortgage brokering, manufacturing, healthcare, distributorships, construction, oil and gas, and insurance. Catherine is often called upon to act as a virtual general counsel to advise wholesale jerseys on a full range of business issues and also helps new and existing business owners regarding business formation and corporate organization.

NCVAA is the first ever national Vietnamese Finance bar association and has been hosting annual conferences throughout the nation since 2006. Initially envisioned as an annual conference event, the NCVAA made the leap to permanent national organization status by incorporating as a bar association in 2010. The NCVAA is dedicated to the support and network building of Vietnamese American attorneys nationwide.

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Our December/January newsletter contains part two of the series on litigation holds, which are internal procedures to preserve relevant information when suit is anticipated or filed. The second installment focuses on recognizing and analyzing events that may trigger a litigation hold.