HOUSTON, April 26, 2017 - In a highly anticipated release, President Donald Trump unveiled his proposed Tax Reform just shy of his 100 day mark as POTUS. 
Throughout Trump’s presidential campaign, he promised to provide tax relief for middle class Americans, simplify the tax code, and economic growth and job creation.

Today, the proposed changes focus on strong reductions in both individual and corporate income tax rates, reducing the number of individual income tax brackets to three — 10 percent, 25 percent and 35 percent — and easing the tax burden on most Americans. 

The reform also calls for eliminating the estate tax and alternative minimum tax (AMT), taxation of corporate earnings on a territorial basis, as well as a plan to include a special one-time tax to entice companies to repatriate cash that they are parking overseas.

Baker Botts’ Firmwide Tax Chair and partner, Richard Husseini notes, “President Trump’s tax plan represents transformational change.  Implementation will require, among other things, detailed and complex transitional rules.  For many taxpayers, these transitional rules will almost be as important as the underlying changes to the tax code.”

“The enactment of a reduced corporate tax rate, combined with the move to a territorial tax system, would put US multinationals on more equal, if not better, footing relative to multinationals based in other major countries around the world,” said Don Lonczak, Baker Botts Tax partner in Washington D.C. 

“Enthusiasm may remain tempered, however, as long as uncertainty remains regarding the role that a destination-based consumption tax will play in any tax reform legislation, as well as the rate and mechanics of a one-time repatriation tax on accumulated offshore earnings.  And, while these proposals would greatly reduce the number of pages of the tax code devoted to cross-border taxation, the time and resources dedicated to the IRS audit process will not necessarily see much savings under a territorial regime.” Mr. Lonczak further stated.


Baker Botts Maintains Strong Rankings in Legal 500 EMEA 2017

LONDON, 17 April, 2017 - Baker Botts L.L.P., a leading international law firm, announced today that in the 2017 edition of Legal 500 EMEA, the firm maintained its two Tier 1 rankings in Saudi Arabia: Commercial, Corporate and M&A and Energy and Natural Resources

Baker Botts also earned two Tier 4 Regional rankings in the Middle East and Africa. 

In addition, three Baker Botts lawyers were ranked as Leading Individuals. 

• Maxim Levinson - Russia and CIS: Corporate and M&A: Moscow 
• Mikhail Semyonov - Russia and CIS: Energy & Natural Resources 
• Stephen Matthews - Saudi Arabia : Commercial, Corporate and M&A

Two firm lawyers were listed as Next Generation Lawyers: 
• Shadi Haroon - Saudi Arabia: Banking & Finance 
• Stephen Burke - United Arab Emirates: Construction and United Arab Emirates: Dispute Resolution

The Corporate, Commercial and M&A team’s work was highlighted in the Legal 500 EMEA commentary for “’providing an excellent quality of legal advice’ and being ‘able to solve complex problems quickly and efficiently’.” 

Please click to view the complete results of Legal 500 EMEA 2017. These rankings can be viewed by selecting the appropriate country and practice area on the left side of the web page.


Baker Botts’ Clive Thorne Appointed to the Impress Arbitration Panel

LONDON, 18 April, 2017 - Baker Botts L.L.P., a leading international law firm, announced today that the firm’s Special Counsel in the Intellectual Property practice of its London office, Clive Thorne, has been appointed to the Impress Arbitration Panel. 

Mr. Thorne is the first Baker Botts lawyer to serve on this panel. His practice focuses on all aspects of media law, IP and IT disputes, including patents, designs, copyright, trademarks and passing off, trade secrets and breaches of confidence. Clive has particular international experience in the arbitration of disputes, both advising clients and sitting as an arbitrator within the UK, India and Asia. 

Impress is the UK’s first independent, Leveson-compliant press regulator. It is the only press regulator to have applied for recognition to the Press Recognition Panel (PRP). Over 33 independent news publications from all over the UK are signed up to Impress with a combined reach of more than two million monthly readers in print and online. 

The arbitration scheme provided by Impress is free to the public and protects publishers against the risk of court costs and exemplary damages. 

Working with the Chartered Institute of Arbitrators (CIArb), the leading non-profit body in the field of arbitration, arbitrators are appointed to the Impress Arbitration Panel for the depth of their knowledge and experience in arbitration cases and for their media law experience. All panel members are fellows of CIArb. 

Click to view the full list of the panel members


Baker Botts Secures Major Trial Win for Lexion Medical

DALLAS, April 18, 2017 - Baker Botts L.L.P., a leading international law firm, announced a major trial victory for its client, Lexion Medical, LLC, after a 7 day jury trial in the United States District Court for the District of Delaware. 

The jury found SurgiQuest, Inc. liable for false advertising. The jury rejected SurgiQuest’s false advertising claims against Lexion. 

The case was tried before the Honorable Gregory M. Sleet, United States District Court Judge. 

SurgiQuest filed the case in 2014 after an earlier filed case by Lexion had been dismissed for lack of jurisdiction. 

In addition to the false advertising findings, the jury also found that Lexion had proven by a preponderance of the evidence that SurgiQuest intentionally or willfully made a false advertising statement. 

The jury further found that Lexion had proven by a preponderance of the evidence that SurgiQuest intentionally or recklessly engaged in unfair competition. 

The jury awarded $2.2 million in lost profit damages and $10 million in punitive damages. 

“I have had the privilege of representing Lexion Medical for over 10 years,” said Baker Botts Dallas based Partner David Wille, the lead lawyer on the matter. “This was an important matter for Lexion that lasted several years. I am gratified that the jury agreed with Lexion’s position," added Mr. Wille. 

"David Wille and his team did an excellent job. We have worked with Baker Botts for over ten years. We have now gone to trial in two cases with them. They are capable of handling complicated scientific matters and presenting the information to the jury in an understandable way. That was true of both our patent litigation and this false advertising litigation," said Patrick Spearman, CEO of Lexion. 

The Baker Botts team lead by David Wille included Partner Paul Reilly and Associate Megan LaDriere

Next Story / MEDIA ALERT

Baker Botts Tax Partners Comment on President Trump’s Proposed Tax Reform