The scheme appears to break the Oslo agreements in that it unilaterally alters the status both of the city and of the settlements: issues that were explicitly put on hold pending the permanent-status negotiations.
The above is a simplified example of how income tax liability may be affected by pending changes in the marginal tax rates and changes in filing status.
As a result, new or pending registration statements or applications for exemptive relief will not be processed regardless of the status of any review of those filings.
Other cases will seek to achieve class action status, and if even one succeeds then banks and defendants in the innumerable pending cases spawned by the mortgage market meltdown are likely to take it on the chin.