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'Rodriguez' Offers Common-Sense Revisiting of Double Dipping
After a few years of confusion, New York's Appellate Division, Second Department has brought some sanity back to the relationship between asset distribution and spousal support. Rodriguez v. Rodriguez, 'AD3d', 2010 NY Slip Op 00944 (2d Dept. 2010). Rodriguez reinstates a principle previously established by many courts, including the state's highest court, the Court of Appeals: Where an income stream is converted into an asset and distributed, the income used is no longer also available for spousal support ' it is classified as an impermissible “double dipping” or “double counting.“ McSparron v. McSparron, 87 NY2d 275 (1995); Grunfeld v. Grunfeld, 94 NY2d 696 (2000). That precept, which had also applied to business distributions, was later twisted and mangled by the Court of Appeals' Keane v. Keane, 8 N.Y.3d 115 (2006), and its progeny. It now returns in the decision in Rodriguez.
Keane v. Keane
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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.
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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.