Posts
February 11 2022
Client Alert: Certain NYC Condos & Co-ops Must File Affidavit by April 15 and Pay Prevailing Wage to Building Service Employees to be Eligible for Tax Abatement
A new law will require most NYC condos and co-ops to pay building service employees the prevailing wage in order for their shareholders or unit owners to be eligible for tax abatements. The prevailing wage is comprised of fixed minimum base and supplemental hourly rates which correspond to a building service employee’s respective job duties and job title. Building service employees are those who are regularly employed at a building for at least eight hours per week for its care and maintenance, and include but are not limited to watchmen, guards, doormen, building cleaners, porters, handymen, janitors, gardeners, groundskeepers and elevator operators.
Click here to read the alert.
February 09 2022
Client Alert: NYS Relaxes Mask Mandate Starting Tomorrow
Governor Hochul has announced that effective tomorrow, February 10, 2022, businesses in NYS no longer need to require a “fully vaccinated environment” in order to allow individuals to go maskless. As you are probably aware, the current rule is that either everyone be fully vaccinated or everyone (regardless of vaccination status) has to wear a mask. Starting tomorrow, only unvaccinated individuals must wear a mask indoors.
Click here to read the alert.
February 07 2022
First African Cannabis SPAC Planned by Cilo Cybin Founder Theron
Africa’s first cannabis-focused blank-check company is set to list later this year with a view to buying companies in the fledgling industry alongside genetics and wearable health-device companies in the U.S. and South Africa.
www.bloomberg.com
February 06 2022
Analysis: Singapore bets on niche SPAC listings to capture tech boom
After years of struggling to emerge from the shadows of regional rivals, Singapore Exchange is looking to establish itself as the hub for blank-cheque firms, riding on regulatory overhaul, support by state firms, and a tech boom in its back yard.
www.reuters.com
January 26 2022
Maker Of $295 Prescription Video Game For Kids With ADHD To Go Public In Palihapitiya-Led SPAC Deal
Akili Interactive, a digital therapeutics company with an FDA-cleared prescription video game to treat ADHD symptoms in kids, will go public in a SPAC deal led by Chamath Palihapitiya.
www.forbes.com
January 25 2022
Client Alert: NYS Mask Mandate Remains In Effect
Yesterday, a Nassau County judge issued a decision ruling that the NYS mask mandate is unenforceable. This created understandable confusion about whether NYS’ mask mandate remains in effect. NYS’ mask mandate does remain in effect for the time being. NYS has already filed an appeal, and the appellate court stayed the Nassau County decision – meaning that the mask mandate remains in effect until there is a decision on the appeal.
Click here to read the alert.
January 25 2022
UAE approves first SPAC framework in the Gulf region
DUBAI, United Arab Emirates — to attract new investment, despite a fall in popularity for the controversial funding tool.
www.cnbc.com
January 25 2022
Hollywood Visual-Effects Studio DNEG Reaches $1.6 Billion SPAC Merger to Go Public
Hollywood visual-effects studio DNEG is combining with a special-purpose acquisition firm to go public with a roughly $1.6 billion valuation, the businesses stated. Identified for its Oscar-winning visuals work on motion pictures resembling “Inception” and “Tenet,” DNEG is merging with the SPAC Sports activities Ventures Acquisition Corp., a blank-check agency centered on the media and leisure industries.
www.wsj.com