E-Invoicing: A Law Firm Perspective
As argued in the accompanying article on one corporate law department's initiatives, implementation of electronic invoicing software should ideally be a win-win improvement benefiting outside law firms as well.
SBIC Capital for Small Businesses
Since the overhaul of the small business investment company (SBIC) program in the early 1990's, the program has grown rapidly to become a large source of equity and mezzanine capital for small and medium-sized businesses. This article provides an overview of the SBIC program, with particular emphasis on those features that benefit entrepreneurs.
Fee-saving 'DIY's' for Start-ups
The predicted economic turnaround will certainly bring new business start-ups with it. This time around, however, an entrepreneur's first step shouldn't be buying a sock puppet or a Super Bowl commercial.
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.
The USA Patriot Act and Private Equity Funds
The Patriot Act was signed into law by President Bush on October 26, 2001. Title III of the Act impacts the anti-money laundering provisions of the Bank Secrecy Act (BSA). The amendments were made to promote the prevention, detection, and prosecution of international money laundering and the financing of terrorism.
Interstate Custody Determination
<b><i>The Quest for Uniformity in a Mobile Society</i></b>"The chancellor in exercising jurisdiction upon petition does not proceed upon the theory that the petitioner, whether the father or mother, has a cause of action against the other or indeed against anyone. He acts as parens patrioe to do what is best for the interest of the child. He is to put himself in the position of a 'wise, affectionate and careful parent' and make provision for the child accordingly." <i>Finlay v. Finlay</i>, 240 N.Y. 429 (1925), citing <i>Queen v. Gyngall</i>, 1893, 2 Q.B.D. 232, 238 (Judge Cardozo).
Neutralizing the So-Called Neutral
<b><i>How to Deal with Negative Custody Evaluations and Guardian Ad Litem Reports</i></b> In terms of the art world, a designer "tames the material to an application." That is exactly analogous to the lawyer's purpose when a Custody Evaluator or Guardian <i>Ad Litem</i> (CE/GAL) is brought into a case. Using certain practice and trial techniques, you can minimize the negative impact of a report from a "less-than-neutral" CE/GAL in a custody dispute.
Abused Children Benefit from Powerful Ruling
New York's highest court, the Court of Appeals, threw a lifeline to abused and neglected children with a powerful ruling that streamlines the adoption process and makes it easier to terminate parental rights in the most severe cases.
A Case in Point
A look at <i>Bates v. Perez</i>, Nos. 2-02-0488, 2-02-0526, 2-02-0597, Ill.App.Ct., July 9, 2003.
Litigation
Key cases of interest to you and your practice.
