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Features

Avoiding Tax Pitfalls in New York Real Property Transfers in Separation and Divorce Image

Avoiding Tax Pitfalls in New York Real Property Transfers in Separation and Divorce

Eli Uncyk & Jeffrey S. Kofsky

Most divorces involve the transfer of a marital residence between the parties as part of equitable distribution, especially when there are minor children who will continue to reside in the family home.There is a transfer tax payable on the transfer of real estate, including the marital residence, in connection with the implementation of the marital settlement agreement or divorce.

Features

Drafting Film Production Compensation Clauses In Light of State Tax Credit Requirements Image

Drafting Film Production Compensation Clauses In Light of State Tax Credit Requirements

Thomas D. Selz

Compensation provisions in entertainment contracts are in one or two subparagraphs. To simplify drafting and to use “plain English,” the compensation provisions often contain introductory, governing language along the lines of: “In full and complete consideration for entering into and performing all of the terms hereof.” However, is such a “plain English” approach always a “best practice”?

Features

<i>Decision of Note</i>: Second Circuit Rules on e-Book Sample in Digital Locker Image

<i>Decision of Note</i>: Second Circuit Rules on e-Book Sample in Digital Locker

Stan Soocher

The U.S. Court of Appeals for the Second Circuit decided that an agreement between a book author and a publisher allowed a customer of distributor Barnes & Noble to retain a sample of the book in the “digital locker” the distributor provided to the customer.

Features

Former BET General Counsel Plays Role in Actress's Lawsuit Image

Former BET General Counsel Plays Role in Actress's Lawsuit

Stephanie Forshee

The longtime general counsel of Black Entertainment Television (BET) has a starring role in actress Gabrielle Union's contract case against the network. Union alleges she was duped into working on more episodes of her BET Networks show Being Mary Jane — without a break between seasons four and five to allow her time to continue to pursue her film career between the TV production schedule.

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MOST POPULAR STORIES

  • Private Equity Valuation: A Significant Decision
    Insiders (and others) in the private equity business are accustomed to seeing a good deal of discussion ' academic and trade ' on the question of the appropriate methods of valuing private equity positions and securities which are otherwise illiquid. An interesting recent decision in the Southern District has been brought to our attention. The case is <i>In Re Allied Capital Corp.</i>, CCH Fed. SEC L. Rep. 92411 (US DC, S.D.N.Y., Apr. 25, 2003). Judge Lynch's decision is well written, the Judge reviewing a motion to dismiss by a business development company, Allied Capital, against a strike suit claiming that Allied's method of valuing its portfolio failed adequately to account for i) conditions at the companies themselves and ii) market conditions. The complaint appears to be, as is often the case, slap dash, content to point out that Allied revalued some of its positions, marking them down for a variety of reasons, and the stock price went down - all this, in the view of plaintiff's counsel, amounting to violations of Rule 10b-5.
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