Advancement Claims Not Entitled to Priority in LLC Receivership
October 02, 2015
In two recent Delaware Court of Chancery decisions, Vice Chancellors Donald F. Parsons Jr. and Sam Glasscock III both concluded that the claims for advancement were not entitled to priority treatment as administrative expenses of the receivership. The cases underscore the importance of obtaining D&O liability insurance regardless of the existence of advancement and indemnification provisions in the entity's organizational documents or the party's employment agreement.
Managing Security Risks During Labor Disputes
October 02, 2015
Every company with union workers faces the risk of a labor dispute. Identifying any business risks and then managing them is a priority for executive decision-makers who must ensure that the company delivers its promises to stockholders, customers, and employees.
Insurance Coverage for FCA Lawsuits
October 02, 2015
Virtually no industry is immune from FCA claims. This article highlights some of the common issues policyholders should consider, both in purchasing their liability insurance policies and responding to FCA suits and allegations.
FATCA's Due Diligence Expansion
October 02, 2015
Last month, we discussed the fact that although Congress' purpose and intent in passing 2010's Foreign Account Tax Compliance Act (FATCA) in order to target U.S. taxpayers using offshore accounts to hide monies overseas FATCA was met, it has been achieved at a cost of imposing heavy burdens on those already compliant. The article concludes herein.
Creating a Competitive Situation
October 02, 2015
When it comes to the business processes that legal organizations should be improving immediately for long-term success, back-office support and the recovery of those costs tops the list. With the pressure on rates and cost recovery not abating, it is critical that firms develop a strategic plan to decrease and control their support costs and recover them in a fair and transparent manner.
Uncovering the Inner 'Intrapraneur' in Law Firms
October 02, 2015
One of the most pervasive impacts on law firms is the need for sustained continuous change. Change is never easy. Continuous change is harder and particularly so in conservative professions like law. Here enters the business case for law firm intrapreneur programs!
Peering Into Copyright Office's Report on Orphan Works
October 02, 2015
What happens when a party wants to use a photograph, image, writing or other work that may be subject to copyright protection, but cannot identify or locate the original author to secure permission? The dilemma these "orphan works" poses was the subject of a recent 106-page report by the U.S. Copyright Office. The report has left the creative world abuzz and, in many cases, aghast at the implications of proposed legislation some believe would effectively overhaul the U.S. Copyright Act.
