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In the Marketplace
The U.S. Supreme Court has denied Textron's petition for writ of certiorari in Textron Inc. v. United States, U.S., No. 09-750, (cert. denied 5/24/10). The controversial en banc decision by the U.S. Court of Appeals for the First Circuit, as analyzed in the November 2009 issue of this newsletter, held that a corporate taxpayer could not shield from disclosure so-called “tax accrual workpapers.” These documents, typically prepared by in-house tax attorneys, set out in detail sensitive areas of tax liability. In this case, the IRS had sought the tax accrual workpapers as part of an investigation into Textron's alleged use of an illegal “sale-in, lease-out” transaction. The sharply divided First Circuit (3-2) concluded that provisions of the federal securities law, in conjunction with prevailing accounting and auditing standards, made the creation of the tax accrual workpapers inevitable. Because the spreadsheets sought by the IRS were not the kind of documents attorneys typically prepared when faced with the prospect or the reality of litigation, they were not entitled to work product protection.
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.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
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.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.