Uniformity and jurisdiction in U.S. federal court tax decisions

• While the U.S Federal Courts confirmed long ago that third-party software support is legal, the Rimini II litigation is related to the manner in which Rimini Street provides support services for certain Oracle product lines.
• In addition to the key legal points where Rimini Street prevailed in Court, Rimini Street respectfully disagrees with several conclusions, findings, comments and rulings of the Court and plans to file an appeal.
• Over the long history of litigation with Oracle, Rimini Street has filed multiple legal appeals, and to-date Rimini Street has prevailed to some degree in every appeal to the Ninth Circuit of the U.S. Court of Appeals and even achieved a rare, unanimous victory in the U.S. Supreme Court against Oracle.
• Oracle lost 23 of 24 claims it pursued against Rimini Street in this case, with the jury finding that Rimini Street engaged in “innocent infringement” on the remaining claim.

• A court judgement handed down last Friday has delivered what years of promises from Australia’s life insurance industry have not – insurance that pays out on what it says it will.
• I first raised the issue of outdated medical conditions within the insurance industry almost 15 years ago.

ASIC belatedly got tough

• The banking royal commission was critical of ASIC’s performance in this area, and in 2021 ASIC commenced action against the insurer MLC for denying payouts to customers because it had failed to promptly update its definition for the insurance benefit of severe rheumatoid arthritis.
• On May 18, Justice Moshinsky of the Federal Court found that MLC’s failure to promptly update the medical definition for severe rheumatoid arthritis had contravened the Corporations Act 2001.

Tight definitions quickly date

There are generally four types of life insurance in Australia. The most common is death (or more euphemistically, “life”) insurance, which pays a benefit when a policyholder dies. The others are
• More contentious are the definitions for total and permanent disability insurance and trauma insurance.
• The problem with tightly and strictly-worded definitions is they can get out of date very quickly, whereas the policies they are written into can stay in place for decades.

Loopholes in the industry’s code

• The new code due to come into effect in July 2023 continues to leave out existing customers, but adds a commitment that seems to offer new customers more.
• Read more:
  New life insurance code riddled with loopholes

  The extra requirements include (and all of them are needed) joint deformity, and bilateral and symmetrical joint soft tissue swelling or fluid.

• Friday’s judgement established that outdated medical definitions are a breach of the law regardless of the code, and have been for a long time.

• Anthem's investment provides SAR with long-term growth capital to execute on the organization's mission and innovation roadmap.
• SAR also welcomes Daven R. Shastri, Managing Partner of Anthem, to the newly created Board of Directors.
• Shastri brings proven institutional investing experience to the board with tenures at Goldman Sachs and Diameter Capital Partners prior to founding Anthem.
• Leading global insurance companies rely on the SAR Platform with integrated fit-for-purpose data analytics tools to protect publicly traded companies and their directors and officers.

• WILMINGTON, Del., Nov. 17, 2022 /PRNewswire/ -- FTX Trading Ltd. (d.b.a.
• FTX.com), and approximately 101 additional affiliated companies (together, "FTX Group"), today noted that filing voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the "Federal Court"), FTX Group is operating under the jurisdiction of the Federal Court, and all company actions, including company transactions such as transfers and withdrawals, must be approved by the Federal Court.
• FTX Group has established Kroll as its claims agent, and all official documents filed with the U.S. Bankruptcy Court can be found online at https://cases.ra.kroll.com/FTX/ .
• FTX Group also noted that the only authorized and official Twitter account for the Company is @FTX_Official, and all social communications from FTX Group and its executives will be relayed exclusively through that account.