Taxpayers with unreported foreign bank accounts are sweating bullets these days. The IRS is in the midst of an unprecedented crackdown on foreign bank accounts.
Last month, we discussed the fact that the The Bankruptcy Code ("Code") has at least nine so-called "safe harbor" (i.e., bankruptcy insulating) provisions for financial contracts. The article concludes herein.
Bankruptcy Rule 2019, an often-ignored pivotal procedural rule in U.S. bankruptcies, has returned to the public eye. This reemergence stems from two recent decisions from the influential Bankruptcy Court for the District of Delaware as well as the controversial pending amendments to Rule 2019 proposed by the Committee on Rules of Practice and Procedure of the Judicial Conference of the United States.
The debate over whether ad hoc or informal committees or groups of creditors or interest holders ("ad hoc committees") must comply with Bankruptcy Rule 2019 recently intensified due to a split among several Bankruptcy Court decisions.
This edition of the Quarterly State Compliance Review looks at some legislation of interest to corporate lawyers that went into effect recently. It also examines some recent decisions of interest, including two from the Delaware Chancery Court.
In the first case ever to challenge the constitutionality of prosecuting teens for 'sexting,' a federal appeals court has upheld an injunction that barred a Pennsylvania prosecutor from bringing child pornography charges against girls who refused to attend a class he had designed to educate youths about the dangers of sexting.
An $18 million settlement of a copyright infringement suit between Internet publishers and freelance writers is back on track because of a U.S. Supreme Court ruling on March 2.
Times are hard all over and law firms are all under pressure to boost revenue. You may be tempted to lower your standards for client intake in difficult times. Resist the temptation. About a third of all claims against law firms ' and a much greater percentage of the very largest claims ' result from taking on "unworthy clients."
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.
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.
This article reviews the fundamental underpinnings of the concept of insurable interest, and certain recent cases that have grappled with the scope of insurable interest and have articulated a more meaningful application of the concept to claims under first-party property policies.
That the pace of change is "accelerating" is surely an understatement. What seemed almost a near certainty a year ago — that law firms would fully and permanently embrace work-from-home — is experiencing a seeming reversal. While many firms have, in fact, embraced hybrid operations, the meaning of hybrid has evolved from "office optional," to an average required 2 days a week, to now many firms coming out with four-day work week mandates — this time, with teeth.
This year at Legalweek, there was little doubt on what the annual takeaway topic would be. As much as I tried to avoid it for fear of beating the proverbial dead horse, it was impossible not to talk about generative AI, ChatGPT, and all that goes with it. Some fascinating discussions were had and many aspects of AI were uncovered.
