WHAT YOU NEED TO KNOW ABOUT PRESIDENT OBAMA’S NOVEMBER 20, 2014 IMMIGRATION ACTIONS

Expansion of Childhood arrival Considerations:

ONE part of the November 20 2014 actions was to expansion the Deferred Action for Childhood Arrivals.  Under the President’s new November 2010 executive action, you may qualify for Deferred Action for Childhood Arrivals (“DACA”) and to apply for work authorization if ALL of the following are true:

  • You came to US before your 16th birthday
  • You were continually living in the U.S. since January 1, 2010. (Small visits out of the country may be acceptable).
  • You were present on June 15, 2012 AND on the date you apply for DACA
  • You did not have any lawful status on June 15, 2012
  • You are either a) in high school b) have a GED c) have a high school diploma OR d) are an honorably discharged veteran of the coast guard or U.S. armed forces.
  • You have not been convicted of a felony, a significant misdemeanor, or there3 or more other misdemeanors, and do not otherwise pose a threat to national security or public safety.

UNDER THE NEW DACA rules, you DO NOT have to be under 31 on June, 15 2012.  Furthermore the work authorization and removal deferral will be three instead of two years, and the start date for continuing residence is 2010 NOT 2007.

 A SECOND part of the November 20 2014 actions was the creation of a new deferred action program for PARENTS and not just children.  This is called Deferred Action for Parental Accountability.  (“DAPA”) You may qualify for deferred action if ALL of the following are true:

  • You had, on November 20, 2014 a son or daughter of any age who is a U.S. citizen of Lawful Permanent Resident.
  • You were continually living in the U.S. since January 1, 2010. (Small visits out of the country may be acceptable).
  • You were present on November, 20 2014 AND on the date you apply for DAPA
  • Had no lawful status on November 20, 2014.
  • Are not an ENFORCEMENT PRIORITY (see below)
  • Present no other factors that in the discretion of the government, make a grant of deferred action inappropriate.

NEW ENFORCEMENT PRIORITY’S as of November 20, 2014 (note even if you do not qualify of r DAPA or DACA, if you are not in the enforcement categories below, the new executive action may benefit you).

 Priority 1: Threats to national security, border security, and public safety. This includes suspected terrorists, people apprehended at the border, intentional gang participants (as well as those who were convicted of a gangrelated offense), and convicted felons (excludes state/local status-related offenses).

Priority 2: Misdemeanants and new immigration violators. This includes people convicted of a “significant misdemeanor” or three or more misdemeanors arising out of three separate schemes (excludes traffic and status-related violations); people who entered unlawfully after January 1, 2014; and people who have “significantly abused” the visa or visa waiver programs.

Priority 3: Other immigration violations. Those who have been issued a final order of removal on or after January 1, 2014.’

Contact Wani and Associates P.C. for any of your immigration related needs and issues. Our acknowledged attorneys with their relentless service and efforts will help to resolve your immigration related issues and save your application from rejection.

 

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DIP (Debtor–In-Possession) Financing

What is DIP (Debtor–In-Possession) Financing and how is it beneficial for distressed businesses or companies?

Debtor-In-Possession Financing or DIP Financing is offered to the companies when they file for Chapter 11 bankruptcy under the US bankruptcy code. Moreover, it provides the distressed businesses with the cash flow or financial resources that they need to meet business expenses and as well help them to turn up quickly from the bankruptcy.

What do we mean by DIP Financing or Debtor-In-Possession Financing?

DIP Financing is a special kind of funding granted to the companies under financial crisis and as well under Chapter 11 bankruptcy process. It is also unique from other financing processes because of its superiority over existing debts, equity and other claims. It gives financially distressed companies a chance to make a new start but under the restricted terms and conditions.

What are the benefits of DIP Financing to the companies facing financial crisis?

DIP Financing resolves myriad of the purposes of the debtors including:

  • Allows the debtors to operate during the Chapter 11 bankruptcy
  • Provides protection to the pre-petition lenders as well for their outstanding debt
  • Helps to keep positive cash flow and operations up and running
  • Provides time to the companies to resolve their issues with their stakeholders, lenders and purchasers
  • Enables the companies to take advantage of market opportunities
  • Assists in meticulous liquidation of  few or all the assets of a debtor
  • Lessens the risk of delinquent debt
  • Provides companies a platform to grow and  as well offers substantial flexibility
  • Re-establishes suppliers’ and customers’ confidence and faith in the company by providing uninterrupted services to the customers and meeting the obligations of the suppliers
  •  Provides funds to the companies to work out a resolution with the lenders before going to the court, thus  helping the debtors to appear in bankruptcy court with  a pre-packaged settlement
  • Crucial to difficult restructuring process as it accelerates the cash flow.
  • If managed  and executed properly DIP Financing can result in rejuvenilled  business and reduced percentage of debt in the balance sheet

Contact Wani and Associates P.C., if your business is facing any economical or financial crises. Our experienced and acknowledged team will lend you diligent support and advice to help you to turnaround your distressed business.