In a rollercoaster of a ride, the merits panel of the U.S. Court of Appeals for the Fifth Circuit, on December 26, 2024, vacated the prior order of the Fifth Circuit’s motions panel staying the preliminary injunction enjoining enforcement of the Corporate Transparency Act (CTA). The last paragraph of the merit panel’s order reads:
The merits panel now has the appeal, which remains expedited, and a briefing schedule will issue forthwith. However, in order to preserve the constitutional status quo while the merits panel considers the parties’ weighty substantive arguments, that part of the motions-panel order granting the Government’s motion to stay the district court’s preliminary injunction enjoining enforcement of the CTA and the Reporting Rule is VACATED.
Once again, there is a nationwide preliminary injunction that: (1) enjoins the CTA, including enforcement of that statute and regulations implementing its beneficial ownership information (BOI) reporting requirements, and (2) stays all deadlines to comply with the CTA’s reporting requirements.
