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9/11 Award Ruled Separate Property in Divorce Case
An injured firefighter's entire federal September 11th Victim Compensation Fund award constitutes separate property for the purposes of equitable distribution, a state appeals court in Brooklyn has ruled. A panel of the Appellate Division, Second Department, found that even though economic damages are typically considered part of a marital estate, lawmakers intended for both the economic and noneconomic portions of personal injury awards to be designated separate property.
“While the logic of the Equitable Distribution Law ' suggests the conclusion that the economic portion of a personal injury award should be marital property, [the] legislative history compels the contrary result,” Justice Robert A. Spolzino wrote for the unanimous panel in Howe v. Howe, 07-07984, N.Y.L.J., D.O.I. 10/05/09, p. 17. “[T]he inescapable conclusion is that the Supreme Court was correct in determining that the portion of the Victim Compensation award received by the plaintiff that
constitutes compensation for economic loss during the marriage is the plaintiff's separate property.”
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.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
One Overlooked Element of Executive Safety: Data Privacy
Executives have access to some of the company's most sensitive information, and they're increasingly being targeted by hackers looking to steal company secrets or to perpetrate cybercrimes.