There is some concern in industry circles that the decision may open up the floodgates for borrowers seeking to
rescind their mortgages.
Although plaintiff may have the right to
rescind, the question of whether the global economic crisis of 2008 serves as a ground for rescission remains.
Among them are the different effective dates for different provisions, the new reportable transactions understatement penalty under CRTC [section] 19773, the eight-year extended statute of limitations under CRTC [section] 19755 for abusive tax shelter transactions, the non-economic substance transaction penalty under CRTC [section] 19774, and the statute's providing that the FTB Chief Counsel's decision not to
rescind certain penalties is nonreviewable.
If a company completes a pooling of interests, it must
rescind existing stock repurchase plans and forgo stock repurchases for up to two years.
We would be happy to work with committee staff on such an alternative, although I am not confident that high-cost mortgage borrowers who may desperately need credit would be any more likely to
rescind their loans with greater disclosures about rescission or a longer "cooling-off" period than they are now.
1 believe they will consider whether or not they want to
rescind the ordinance or part of the ordinance or do something else.
The IRS may
rescind any portion of the penalty if (1) the violation does not involve a listed transaction; and (2) rescinding the penalty would promote compliance and effective tax administration.
Despite being told that the process was successful and efficient, the provincial council meeting here in late September, heard enough reservations about the confidentiality of the vote and the impersonal nature of e-mail elections to
rescind the protocol.
That coverage is likely to be challenged by the insurers, which probably will move to
rescind their policies with WorldCom, based on what appears to be either fraud or intentional misleading on WorldCom's part, Hartwig said.
Inform the patient that he or she has an opportunity to
rescind the request at any time, in any manner.
Eastman decided to
rescind the increase, and a key company source said he did not foresee another attempt any time soon.
When the purchaser learned of this reputation, he sought to
rescind the contract and secure the return of his $32,500 down payment.
