Firm Insights

On Sept. 15, Baha Mar Ltd., the owner and developer of the $3.5 billion Baha Mar resort in the Bahamas, had its Chapter 11 bankruptcy protection case thrown out by the U.S. Bankruptcy Court. According to the Wall Street Journal, the court dismissed the case because the judge “perceived no greater good” from it continuing […]

On Sept. 22, Quirky Inc., the start-up amateur inventor platform, known for developing smartphones and mobile device products to control household appliances, announced that it had filed for Chapter 11 bankruptcy protection. According to the Wall Street Journal, the company plans to sell all of its assets for its home business, Wink, for $15 million […]

After coming under fire for using the forum to secure an unfair home court advantage After coming under fire for using the forum to secure an unfair home court advantage, the Securities and Exchange Commission (SEC) recently proposed amendments to its rules governing administrative proceedings. The proposal would extend certain deadlines, allow for depositions, and […]

The IRS recently issued a new set of proposed rules on taxes for high-net-worth individuals in the U.S., including citizens and residents, who receive gifts from expatriates. According to the National Law Review, the tax is significant because it is designed to disincentivize U.S. citizens from expatriating individually. The new rules The proposed tax, which […]

A recording deal isn’t the only contract that a musician will end up signing… Artists will often have to sign a recording studio contract as well.  There are several parts to a recording studio contract that musicians should understand. The contract lays out all of the rules that both the recording studio and the artist should […]

Every term, the U.S. Supreme Court considers several cases with the potential to have significant ramifications for employers and employees. The Court’s new term dealing in labor and employment, which began earlier this month, is no exception. Labor and employment cases Below is a brief preview of the labor and employment cases currently on the […]

A new ruling by the Third Circuit Court of Appeals in IDEA Boardwalk, LLC v. Revel AC, Inc. (In re Revel AC, Inc.), __ F.3d __ (3d Cir. Sept. 30, 2015), raises a bankruptcy issue that has so far not been definitively resolved by the appellate courts: Whether a bankrupt lessor of commercial property may […]

There are few tax cases that catch the eye of the public or have as an interesting array of participants. This one is an exception, mainly because it involves pole dancing. The history of the matter is that the State of New York, in 2005, assessed sales tax on an adult men’s club. The club […]

On Sept, 9, Quiksilver, one of the largest manufacturers of surfwear and other boardsport-related equipment in the world On Sept, 9, Quiksilver, one of the largest manufacturers of surfwear and other boardsport-related equipment in the world, announced that it had filed for Chapter 11 bankruptcy protection, according to the Wall Street Journal. In court papers, […]

In the wake of the U.S. Supreme Court’s decision in Citizens United, corporate political spending has skyrocketed. In response, companies are facing increasing pressure from public interest groups, shareholders, and regulators to disclose their donations. Shareholders concerned about corporate campaign donations are turning to resolutions that ask the company to disclose information about lobbying activities […]

On Friday, Aug. 31, the IRS announced proposed regulation changes for the amount of penalties for failure to disclose required reportable transaction information. According to Forbes contributor and tax law professor Timothy Todd, these new changes require taxpayers to properly disclose reportable transaction information to the to the IRS. Any penalties imposed by IRS for a violation […]

On Aug. 30, Univita Homecare Solutions LLC, a major provider of home-based care management in the U.S., announced that it had filed for Chapter 7 bankruptcy protection, according to the Orlando Sun Sentinel. In court papers, the company stated that its decision was based on the fact that its HMO contracts were terminated in Florida […]