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In Search of Intangible Asset Value
It used to be that when faced with the question of “duplication” or “double dipping” in connection with assets that are distributed upon marital dissolution and income used as a basis for maintenance awards, one needed to look no further than the income that was capitalized in determining the value of the asset. In other words, it was typically held that income that forms the basis for the value of an asset is not also available for purposes of maintenance, lest you would effectively be distributing the same income stream twice. It did not matter whether the income was derived from a medical practice, a car dealership, a widget manufacturer, commercial real estate, or an enhanced earnings capacity.
Since 2004, however, with the troubling Court of Appeals decision in Keane v. Keane, 8 NY 3d 115 (NY 2004), the identification of income that is unavailable for purposes of maintenance awards (should one wish to avoid a distribution of an earnings stream more than once) has become more complex In Keane, the court distinguished between tangible and intangible income-producing assets, and decided that income associated with the former should not be off limits when considering a maintenance award. In other words, it allowed the “double dip” on income generated from “tangible” assets. Subsequent Appellate Division decisions have cited the Keane decision in allowing this overlapping award with respect to income produced by “tangible income producing properties,” which has been deemed to include service businesses (not just commercial real estate).
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.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
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.