The Michigan Department of Treasury, based on a Notice of Preliminary Audit Determination, will likely deny the exemption claims and assess additional sales and use tax against ITCTransmission, on top of a sales and use tax audit of ITCTransmission for…
Whirlpool Corporation is currently involved in lawsuits in Brazil concerning tax credits on the purchase of raw materials used in production (IPI tax credit).
The Brazilian Constitution provides a general basis for recognizing IPI tax credit. Certain raw materials that are…
Whirlpool Corporation disclosed in its latest quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission that certain Whirlpool affiliates and executives located in Brazil are facing formal administrative investigation into alleged violations of Brazilian antitrust law.
In…
Whirlpool Corporation disclosed in its latest quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission that its appeal of the Brazilian lower court’s ruling over a BRL283 million (US$144 million, based on recent exchange rates) collection…
Lear Corporation had a balance of US$23.2 million in product warranty liabilities as of April 4, 2009.
In the event that use of the Company’s products results in, or is alleged to result in, bodily injury and/or property damage or other…
Lear Corporation disclosed in its latest quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission that as of April 4, 2009 and Dec. 31, 2008, it had recorded reserves for pending legal disputes, including commercial disputes…
Lear Corporation is facing lawsuit filed by The Royal Bank of Scotland plc ( RBS ) in the U.S. District Court for the Southern District of New York alleging breach of contract, the company disclosed in its latest quarterly report…
Detroit Edison Co. disclosed in its latest quarterly report on Form 10-Q filed on May 5, 2009, with the U.S. Securities and Exchange Commission that on April 28, 2009, the charges of alleged violations of the Canadian Fisheries Act were…
Micron Technology Inc. disclosed in its latest quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission that the Company and other Dynamic Random Access Memory (DRAM) manufacturers continue to face antitrust law violations suits filed through…
Stryker Corp. disclosed in its latest annual report on Form 10-K filed with the U.S. Securities and Exchange Commission that a court agreed to enforce in January 2009, a civil subpoena issued by the U.S. Department of Health and Human…