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Involuntary Bankruptcy In a new ruling, In re Forever Green Athletic Fields, Inc.,__F.3rd __(3d. Cir. Oct. 16, 2015), the Third Circuit has joined several other courts in holding that an involuntary bankruptcy petition may be dismissed as a bad faith filing, even if the involuntary petitioners have satisfied all of the explicit requirements under §303 […]

The SEC & FCPA Enforcement The Securities and Exchange Commission (SEC) continues to ramp up its enforcement of the Federal Corrupt Practices Act (FCPA). In 2010, the SEC’s Enforcement Division created a specialized unit dedicated to enforcement of the FCPA, which prohibits U.S. companies from bribing foreign officials for government contracts and other business. To […]

Substantial Compliance The state probate code was amended in 2004 to permit documents that were intended to have testamentary effect but were not executed in accordance with the statutory requirements. The new probate code’s doctrine of substantial compliance holds that if a document was not executed in compliance with the statute, the proponent may establish […]

What is the Exceptional Student-Athlete Disability Program? Professional athletes often purchase insurance to protect against loss of salary should they be seriously injured, but the NCAA also sponsors an insurance program for “exceptional” athletes – those typically bound for professional leagues. This program is known as the Exceptional Student-Athlete Disability Program. The organization offers student-athletes in football, […]

On October 27, 2015, the U.S. Senate passed the Cybersecurity Information Sharing Act (CISA), which is intended to address the increasing number of corporate data breaches. However, critics of the Cybersecurity Information Sharing Act contend that the lack of privacy protections opens the door for wide scale government surveillance. The stated goal of Cybersecurity Information […]

Although tipping has long been the norm for the U.S. restaurant industry, famed restaurateur Danny Meyer recently announced that all of the NYC Restaurants in the Union Square Hospitality Group will eliminate tipping by the end of the year. The policy change will impact 11 notable NYC restaurants, including the Gramercy Tavern, The Modern, and […]

The Fair Chance Act The Senate Homeland Security and Governmental Affairs Committee recently voted in favor of legislation that would prohibit federal agencies and government contractors from inquiring about a job applicant’s criminal history until after making a conditional employment offer. The proposed law, the Fair Chance Act, would be the first to “ban the […]

Mr. Anson & the HMRC Much ado has been made about the use of hybrid entities that are viewed as flow-through (transparent) or disregarded in one jurisdiction but are separate taxpayers or non-transparent in the other jurisdiction. A United Kingdom (U.K.) resident (Anson) ran his United States (U.S.) consulting business through a Delaware limited liability […]

On Oct. 5, American Apparel, one of the largest clothing retailers in the country, announced that it had filed for Chapter 11 bankruptcy protection, according to USA Today. Following a rapid decline in sales since 2011, the company sought bankruptcy protection after it became insolvent. American Apparel declines into debt In court papers, American Apparel […]

Every film producer needs the right team to ensure that the project is done well, on time and within budget. Major films have numerous individuals a part of their production team who work to keep things running smoothly. Without these people an important detail may be glossed over, or an essential step skipped. As a producer […]

Homeowners’ associations in New Jersey should review their governing documents in light of a recent decision by the Appellate Division of the New Jersey Superior Court. Homeowners’ associations in New Jersey should review their governing documents in light of a recent decision by the Appellate Division of the New Jersey Superior Court. In Sylvan Glade […]

In a recent decision, the New Jersey Tax Court asserted that Spring Licensing Group Inc., an out-of-state intangible holding company, was subject to the state corporate business tax for royalty income it earned from an in-state affiliate. According to a Bloomberg BNA report, the decision held that the company was subject to New Jersey’s related-party expense […]