Law Office of William P. Fennell, APLC

Happy St. Patrick's Day!! Fennell Law had a little bit o' fun today. 😂

Hold onto your hats … the Beneficial Ownership Information (BOI) saga took another unexpected turn! On February 27, FinCEN (U.S. Department of Treasury’s Financial Crimes Enforcement Network) dropped a bombshell: no fines, penalties, or any enforcement actions will be taken against companies that miss a BOI filing deadline. Well, at least until it releases an upcoming interim final rule with new relevant due dates. FinCEN’s announcement comes right on the heels of its extended deadline to file the BOI reports on March 21, 2025. That March 21 date has now become FinCEN’s self-imposed deadline to issue a final rule that extends the BOI reporting deadlines. So, what’s next? Stay tuned! We’ll have more info by March 21.

You may hold a rejection damage claim. Under bankruptcy rules creditors must act swiftly to preserve creditor claims! Late last year we notified our landlord/property manager/lessor/ trucking and logistics clients of the Party City and the Joanna Fabric’s Chapter 11 case.  Well, as many of you saw in the news the last few days, these two national retailers and Chapter 11 debtors announced both are closing of all of their remaining retail locations. We have years of experience in these very large, and not so large, cases having represented clients in dozens of cases. We track these and any other national retail chains before and during their bankruptcy case.  First, to determine the creditor’s claim and then to act promptly to file the client’s claim properly. Second, to track distribution(s) the client is entitle to.             The Bankruptcy system really is designed to protect creditor’s rights and to pay creditors’ claims. Let us evaluate your claim and protect your right to payment. #fennelllaw #creditorsrights

We’re proud to announce that our founding partner, Bill Fennell, has been appointed Chair of the Bankruptcy Section of the San Diego County Bar Association! Bill's leadership and expertise in commercial bankruptcy have earned him this prestigious role, and we are excited to see the positive impact he will make in the local legal community. This appointment reflects his commitment to advancing the practice of bankruptcy law and his dedication to supporting fellow professionals in the field. Congratulations, Bill, on this well-deserved recognition! #BankruptcyLaw #SDCBA #SanDiego

For update on the Corporate Transparency Act's BOIR requirement, please visit our website https://lnkd.in/gqdVt4ai

For update on the Corporate Transparency Act's BOIR requirement, please visit our website https://lnkd.in/gqdVt4ai

CTA's BOIR filing requirement of January 1 is back on! Visit our website for more. https://lnkd.in/eytJ4cAn

CTA BOIR UPDATE: As suspected, there has been push-back against the Texas District Court’s injunction staying the requirement for companies to file their Beneficial Ownership Information Report (“BOIR”). As of today, the injunction is still in place, therefore relieving companies of the obligation to file a BOIR. However, that could change, and it could change just days before the January 1, 2025, filing deadline. We are expecting a ruling by the 5th Circuit Court of Appeals sometime between now and December 27 which will let us know if requirement to file the BOIR is back in place or not. Because we could learn of this decision merely days before the deadline, it is recommended that companies be prepared to file their BOIR in case the Appellate Court stays the existing injunction. If you need help with this or have questions, Fennell Law can help. Visit our website for future updates: www.fennelllaw.com

On December 3, a Texas Federal District Court issued a preliminary injunction, blocking the U.S. Department of Treasury from enforcing the Corporate Transparency Act’s ("CTA") Beneficial Ownership Information ("BOI") reporting requirements. See link: https://lnkd.in/gAspVUdc So, at this time, THERE IS NO RUSH TO FILING THE BOI REPORT. The preliminary injunction stays the requirement of filing as the Texas court specifically said “… [t]he extent of the constitutional violation Plaintiffs have shown is best served through a nationwide injunction.” Therefore, the ruling appears to give small business owners a reprieve from this rule, as of now, the January 1, 2025, reporting deadline is delayed until a higher court rules otherwise. Fennell Law will continue to monitor the ruling as it is preliminary and will follow-up with you all as appropriate. Please feel free to share this post with your business-owner friends and associates.

On December 3, a Texas Federal District Court issued a preliminary injunction, blocking the U.S. Department of Treasury from enforcing the Corporate Transparency Act’s ("CTA") Beneficial Ownership Information ("BOI") reporting requirements. See link: https://lnkd.in/gAspVUdc So, at this time, THERE IS NO RUSH TO FILING THE BOI REPORT. The preliminary injunction stays the requirement of filing as the Texas court specifically said “… [t]he extent of the constitutional violation Plaintiffs have shown is best served through a nationwide injunction.” Therefore, the ruling appears to give small business owners a reprieve from this rule, as of now, the January 1, 2025, reporting deadline is delayed until a higher court rules otherwise. Fennell Law will continue to monitor the ruling as it is preliminary and will follow-up with you all as appropriate. Please feel free to share this post with your business-owner friends and associates.