Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Amends the Pre Pack regulations to redefine "fair value" as the estimated realizable value of the corporate debtor or its assets on the insolvency commencement date, computed after marketing and including tangible, intangible assets and underlying synergies. Requires appointment of two sets of registered valuers, each set comprising one valuer per asset class with a coordinating valuer. Prescribes a process: valuers to explain methodology to the committee, conduct physical verification, submit asset level fair and liquidation values to coordinating valuers, which compute set fair values considering synergies; the fair value of the corporate debtor is the average of the two coordinating valuer estimates and liquidation value is the asset class averages. Valuation reports must follow Board notified formats.
Amends the Pre Pack regulations to redefine "fair value" as the estimated realizable value of the corporate debtor or its assets on the insolvency commencement date, computed after marketing and including tangible, intangible assets and underlying synergies. Requires appointment of two sets of registered valuers, each set comprising one valuer per asset class with a coordinating valuer. Prescribes a process: valuers to explain methodology to the committee, conduct physical verification, submit asset level fair and liquidation values to coordinating valuers, which compute set fair values considering synergies; the fair value of the corporate debtor is the average of the two coordinating valuer estimates and liquidation value is the asset class averages. Valuation reports must follow Board notified formats.
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