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Matrimonial Valuation Dates
Ask any experienced matrimonial lawyer in New York State what valuation date should be used in valuing marital property, and the answer will inevitably be the same: “active” assets (i.e., those whose value depend on the labor of the titled spouse) should be valued as of the date of commencement of a matrimonial action, and “passive” assets (i.e., those whose value depend solely on market forces) should be valued as of the date of trial. Indeed, the case law generally holds this to be true, based on the theory that, with respect to an active asset, a titled spouse should be prevented from manipulating its value after the date of commencement of a matrimonial action, and should also be entitled to the results of his or her post-commencement efforts with respect to the asset to the exclusion of the non-contributing spouse. See e.g., Wegman v. Wegman, 123 AD2d 220, 509 NYS2d 342 (2nd Dept. 1986); McSparron v. McSparron, 87 NY2d 275 (1995); Greenwald v. Greenwald, 164 AD2d 706 (1st Dept. 1991).
Passive Assets
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.