Firm Insights

Several Key Marijuana Legalization Bills Are Pending in New Jersey Legislature Legalizing, taxing, and regulating marijuana presents a wealth of opportunities for New Jersey businesses. While the state officially legalized marijuana for medical use in 2010, the program has been slow to get off the ground; in large part due to the onerous requirements placed […]

How Will BMI’s Victory in a Major Fractional Licensing Decision Affect the Music Industry? In what could prove to be a landmark decision for the music industry, the U.S. District Court judge for the Southern District of New York ruled that Broadcast Music Inc. (BMI) was authorized to conduct fractional licensing.According to Reuters, the Department […]

Golfsmith International Holdings Inc., one of the largest golf apparel and equipment chains in the U.S., recently announced that it filed for Chapter 11 bankruptcy protection. According to Bloomberg, the golf giant is currently negotiating the sale of a portion of its brick and mortar retail locations.  Golfsmith International Holdings’ debt load mounts In its bankruptcy […]

The new partnership audit rules enacted as part of The Bipartisan Budget Act of 2015 (the “Rules”) are designed to collect more income tax. The new partnership audit rules enacted as part of The Bipartisan Budget Act of 2015 (the “Rules”) are designed to collect more income tax. The Internal Revenue Service (IRS) does not […]

Third Circuit Decision To Affect New Jersey Tax Abatement Programs A recent decision by the Third Circuit Court of Appeals reinstates a legal challenge to Jersey City’s tax abatement ordinance, which requires developers of certain privately-funded projects to sign a project labor agreement (PLA). How will this impact New Jersey tax abatement programs?The suit maintains that […]

Changes to lease accounting rules impact business financial statements and due diligence inquiries in sales and dispositions of businesses. The traditional financial statement would have finance leases and capital leases that users of financial statements would be able to interpret having some familiarity with the established concepts. What is now considered a lease? Now, under the […]

Cosi Inc. recently announced that it had filed for Chapter 11 bankruptcy protection.

Songwriters are suing the Department of Justice over licensing rights Earlier this month, the Songwriters of North America (SONA), a grassroots group of 200 songwriters in the U.S., filed a federal lawsuit against the Department of Justice, The New York Times reported. Apparently, SONA is suing the DOJ over licensing rights.The lawsuit also named Attorney General Loretta E. Lynch […]

What You Should Know About White-Collar Crime Investigations We’ve previously discussed what to do while under federal investigation, however, now we will delve into how you can know whether or not you’re under investigation for a white-collar crime.One of the unique aspects of white-collar crime is that the suspect is often aware that he or she […]

NJ Supreme Court Rules Faulty Workmanship is Covered under Commercial General Liability Policies The Supreme Court of New Jersey recently held that a subcontractor’s faulty workmanship is covered under a developer’s commercial general liability policies (CGL). The decision in Cypress Point Condominium Association v. Adria Towers provides much-needed clarity regarding one of the most common types of […]

Recently, Key Energy Services, one of the largest onshore rig-based well-servicing contractors in the U.S., announced that it will plan to file for Chapter 11 bankruptcy protection. According to a Fuel Fix report, the company’s creditors have agreed to a reorganization plan where debtholders will take control of the firm as part of a debt-for-equity […]

New Rules enacted by the SEC Poised to Shake Up Money Market Funds Big changes are in store for the $2.7 trillion money market funds industry.Rules enacted by the Securities and Exchange Commission (SEC) are slated to take effect on October 14, 2016, and could lead to market volatility. SEC’s Money Market Reform Rules The […]