In Search of the Holy Grail
November 29, 2004
Where, as is generally the case, stock of a bankrupt company changes hands upon emergence, the company may undergo an "ownership change" and the use of its net operating losses (NOLs) may be subject to limitation under Section 382 of the Internal Revenue Code (Code). This article discusses the loss limitation rules, in general, and one of the special rules under Section 382 of the Code that applies to bankrupt companies, specifically.
Asbestos and Mass Tort Claims
November 29, 2004
Asbestos-related bankruptcies are prevalent for various reasons, including expense of traditional tort litigation, lack of either state or federal procedures to handle mass litigation, disputes between insurer and insured, and need for many companies' creditors and shareholders to achieve certainty with large current and contingent asbestos liabilities. Bankruptcy remains an attractive alternative and sometimes last resort because section 524(g) of the Bankruptcy Code provides a mechanism for companies faced with overwhelming asbestos liability to resolve current and future asbestos claims by channeling them to a trust, thereby allowing the effected company to avoid what could result in an inevitable liquidation. One necessary component of this channeling mechanism is section 524(g)(4)(B)(i) of the Bankruptcy Code which requires the Bankruptcy Court appoint "a legal representative for the purpose of protecting the rights of persons that might subsequently assert [asbestos claims] ..." 11 U.S.C. ' 524(g)(4)(B)(i), commonly referred to as a future claimants' representative (FCR).
New! Same Sex Partnership Law Report
November 18, 2004
There's a battle raging in local, state and federal legislative bodies and courts,You know the issue. You deal with it every day. Now, get the clarity you need tohelp your clients keep and gain their rights.<br>
<i>Goodridge</i> Decision Spawns Action
November 16, 2004
Although the average American might feel that the reality of same-sex marriages in Massachusetts materialized overnight, activists who have worked on the issue say that the <i>Goodridge</i> decision by the Supreme Court of Massachusetts in November 2003 was not a complete surprise. <i>Goodridge</i> was the result of a well-planned, long-term strategy by same-sex marriage proponents to bring the issue into the legal, cultural, and political mainstream.
The Changing and Conflicting State of Same-Sex Marriage
November 01, 2004
The May 17, 2004 legalization of same-sex marriage in Massachusetts cleared a symbolic and practical barrier to marriage between persons of the same sex within the United States, as the state became the first in the U.S. to give legal sanction to marriage between persons without regard to gender. The formal legal acceptance of same-sex marriage by a single jurisdiction within the United States, however, merely exacerbated a problem that has been developing and evolving for some time: the growing legal uncertainty brought by the legalization of same-sex marriage and unions by certain jurisdictions on the one hand, and increasing efforts to prohibit them from being granted or recognized, in others.
Workplace E-mail: Employers Beware!
November 01, 2004
E-mail has become a way of life. Its advantages in the business world are widely known: It is an inexpensive, easily distributed medium, which can be accessed, even wirelessly, almost instantaneously anywhere in the world. In this fast-paced global economy, these features are highly desired. E-mail in the workplace is a double-edged sword, however, and the problems associated with workplace e-mail, particularly in connection with litigation-related discovery, have been recognized with increasing frequency by courts and litigants around the country.
Employment Relations Training
November 01, 2004
Anti-harassment and diversity training can be a very effective tool in preventing claims of workplace discrimination and minimizing risk. It is essential, however, to be aware of the snares along the way: poorly executed training may be as good as no training at all, or worse. Properly executed, anti-harassment and diversity training holds out some hope for employers as a means to avoid the adage, all too familiar in the human resource community, that "no good deed goes unpunished."
All Employers Have Obligations Under Immigration Law
October 01, 2004
Suppose that you represent an employer that does not hire foreign nationals and is in an industry that does not lend itself to foreign workers. Does your client nevertheless have responsibilities under the Immigration Reform and Control Act of 1986 (IRCA)? The answer -- surprising to too many employers and attorneys -- is yes. The IRCA prohibits unfair immigration-related employment practices and makes all U.S. employers responsible for verifying the "employment eligibility" and "identity" of all employees hired to work in the United States after Nov. 6, 1986.
