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When Business Interests Are Valued Subsequent to the Date of Commencement
In last month's issue, we discussed at length how, when the value of a business interest is impacted by adverse events subsequent to the date of commencement outside of the titled spouse's control, courts have recognized that it would be inequitable to ascribe a date-of-commencement value. Let us now address two other scenarios where valuing a business interest as of the commencement date value would unfairly prejudice one party because the change in value is in no way attributable to the titled spouse's active efforts. In both scenarios, courts have appropriately valued the business interest as of a date subsequent to the date the action was commenced. First is the situation in which the value of the interest either increases or decreases as a result of passive market forces. And second, courts have valued business interests as of a date later than the date of commencement if the value is increased due to the efforts and contributions of the non-titled spouse.
Passive Market Forces or The Efforts of the Non-Titled Spouse
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.