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When Business Interests Are Valued Subsequent to the Date of Commencement
One of the most significant questions presented at the outset of any valuation of a business-type interest (such as an ongoing business concern, professional practice, or other assets intrinsically linked to an individual party's efforts) conducted in connection with the equitable distribution of marital property upon divorce is: What date should be used to value the asset?
Inasmuch as the Domestic Relations Law (DRL) does not specifically prescribe the date on which each marital asset (or each type of marital asset), must be valued, this determination has been left to the courts. As explained by the Second Department in Wegman v. Wegman, 123 AD2d 220 (2nd Dept. 1987), “The question of a valuation date is of prime importance since, in complicated matters and in the urban areas of the state, protracted pretrial proceedings and calendar delays can mean that months, if not years, will pass between the commencement of the action and the time of trial. In that time, property values may not ' and probably will not ' remain constant.” Wegman at 231 (citing Scheinkman, 1984 Practice Commentaries, McKinney's Cons. Laws of N.Y., Book 14, Domestic Relations Law C236B:32, p. 117 (1986 Supp. Pamphlet)). As Scheinkman has indicated, as a result of the absence of a general rule governing when marital assets should be valued, “[t]his area of the law has been fraught with confusion.” Id. at 27.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
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.