Bigfood blue white is primarily in the business of importing a wide range of food products. Since its founding in 2016, we have added more than 6 different alcohol brands, 20 grape varieties, and more than 25 exotic liquors originating in 4 different continents. Our company emphasizes expert logistics and international trade law, and utilizes high-tech, real time inventory monitoring as well as in transit tracking to ensure our products arrive on time, every time.
There are many facets of international business that can be affected by family law matters. One of the most crucial is what is referred to as legal fees in family law matters. This involves specific language contained within certain legal contracts which specifically addresses whether or not a party to the contract can seek reimbursement of costs expended for attorney’s fees, and post-judgment interest. Further, the recent tax cuts and jobs act of 2017 specifically address an extension of ยง9958 which makes the awarding of court costs and fees to the prevailing party in tax court subject to review. In addition, in the event of business collapse, and a subsequent disillusion of the business, recent legal avenues have made it possible for a court appointed receiver to recover costs. These rulings have had a significant impact on various industries.
The impact of attorney’s fees can often be felt far removed from the immediate legal battle. There are two major ways that this can happen. The first is via issues with contractual fulfillment. In some instances, importers may serve as middlemen, in other words they may have no direct contract with the product manufacturer, but rather they may make arrangements directly with the end consumer. When the end consumer attempts to hold one party liable for failure to fulfill an order, they may in fact be subjecting the importer to legal action, regardless of the fact that the importer had nothing to do with the original issue. Worst yet, the importer may be held liable, not only for their own legal costs and fees, but for those of the end consumer.
The second major issue stems from legal cost entitlements. If a particular country’s legal system has provisions for awarding court costs and attorney’s fees, you’ll find that this can have a cascading effect. For example, if company A represented parties in multiple countries, and paid out over $1 million dollars in legal costs to complete a deal for an investor wherein company A was to receive a commission, and Company A was awarded its legal costs, the investor may be able to take advantage of the language in the contract that requires them to pay not only their legal costs but those of the other party. Depending on the jurisdiction, this could result in a multimillion dollar fee. Note that not all jurisdictions allow for the enforcement of foreign judgements, and those who have been denied enforcement of a foreign judgment have had difficulty overcoming those rulings.
Likewise, a corporate receiver may use the vast array of language relating to awarding attorney’s fees to their profit to recover costs by alleging previously unknown violations, as well as recently uncovered legal issues. Any additional amount awarded to a receiver would then be paid by the individual companies that were part of the claim. Again, depending on the country, this could amount to large sums of currency.
In the end, businesses wishing to import diverse food products around the globe must be aware of the risks. Any legal entanglements that occur, no matter how seemingly unrelated to the importation efforts, can have massive ripple effects affecting not just the immediate parties involved, but also resulting in an industry wide cost increase and revenue reduction. While it may seem overwhelming and prohibitively difficult, you can mitigate these risks by taking the following steps:
In conclusion, the exciting world of international food imports comes with many considerations. The majority of people are just worried about product quality and stock rotation. When you’re dealing with diverse products coming from multiple nations, there’s strategy and convenience to be had. Yet, if your legal team has missed the risk for thousands, you may essentially be paying someone else’s debt, as well as your own legal fees and expenses. In certain situations, you’re the loser, even if it’s the other side that lost the suit. This year, avoid being caught off guard by these decisions.