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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Charitable Bequest of a Business and the Problems That Follow

It is not difficult to leave a business to charity, one makes a bequest. The difficulty, however, arises from the administrative and compliance issues faced as a result of such a charitable bequest make it impractical in most instances. The Internal Revenue Code (IRC) imposes numerous restrictions on these tax practices and discourages non-profit organizations […]

Author: James F. McDonough

September 23, 2013

NY Federal Court Rules Auditors Strictly Liable for Their “Opinions”

Ernst & Young and PriceWaterhouseCoopers will not be dismissed from the securities class-action lawsuit involving Overseas Shipholding Group, Inc. (OSG). The two firms provided auditing services to the now defunct company. The case revolves around OSG’s public offering of three hundred million dollars of unsecured notes. In connection with the transaction, OSG filed a Shelf […]

Author: Scarinci Hollenbeck, LLC

September 23, 2013

Court Upholds Law Prohibiting Sports Betting in New Jersey

The legalization of sports betting in New Jersey is becoming more bleak, following a court’s recent decision to uphold a lower court’s ruling prohibiting passage of the betting legislation. A three-panel federal appeals court affirmed the ruling that the Garden State’s new sports betting law violates federal statute, and therefore should not be implemented. While legal […]

Author: Scarinci Hollenbeck, LLC

September 20, 2013

Entertainment and Sports

IRS Goes After Michael Jackson's Estate for $702 Million Tax Bill

The estate of the late pop icon Michael Jackson is embroiled in a bitter battle with the IRS over a tax bill, interest, and penalties that involve a range of his assets. The agency issued an official Notice of Deficiency to the estate in May. The $702 million tax bill revolves around Jackson’s Neverland Ranch, his […]

Author: Scarinci Hollenbeck, LLC

September 20, 2013

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors

Local and state governments, as well as the federal government, are not the only ones closely watching Detroit’s municipal bankruptcy proceedings. It appears that Detroit, which recently filed the largest municipal bankruptcy in U.S. history, has also garnered the attention of global investors who are making determinations about future investments into the struggling city. China, […]

Author: Joel R. Glucksman

September 20, 2013

Federal Trade Commission To Capitalize on Drug Patent

The Federal Trade Commission (FTC) is seeking to apply its success before the U.S. Supreme Court to another type of patent settlement. The agency has asked the U.S. District Court for the District of New Jersey to accept its amicus brief in In re Effexor XR Antitrust Litigation. The Federal Trade Commission brief argues in favor […]

Author: Fred D. Zemel

September 19, 2013

GateHouse Media Seeks Bankruptcy Protection

GateHouse Media, Inc., a company that owns more than 400 community newspapers and websites, announced its plans to seek bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. The publisher maintains operations in 20 U.S. states and brought in annual revenue of $489 million in 2012. However, declining sales and large printing expenditures since the […]

Author: Joel R. Glucksman

September 19, 2013

Treasury Releases Additional Guidance on Employer Mandate

The deadline for Employers to comply with the “Employer Mandate” provisions of the Patient Protection and Affordable Care Act (PPACA) has been postponed until 2015. In addition to the delay, the Treasury Department recently released new proposals that will further limit the compliance burdens placed on U.S. businesses. As we have previously discussed on this […]

Author: Scarinci Hollenbeck, LLC

September 18, 2013

New Jersey Employment Lawyer

Will D.J. Fluker, Luther Davis Controversy Have Wider Implications for Sports Agent Laws in Certain States?

In the aftermath of an exclusive Yahoo! Sports report, which implicates five Southeastern Conference football stars in NCAA rule violations, the details of the case may have a broader impact on sports agent laws. The Yahoo investigation suggests that five players violated NCAA rules by receiving extra benefits prior to completing their collegiate careers. These players […]

Author: Scarinci Hollenbeck, LLC

September 18, 2013

Entertainment and Sports

Report: Rising Number of Americans Relinquish Citizenship to Avoid High Taxes

A growing number of Americans are renouncing their U.S. citizenship and handing in their passports at faster rates in an effort to avoid rising high tax rates and complicated tax law, according to a newly-published government report. The Internal Revenue Service released its Quarterly Publication of Individuals who have chosen to Expatriate in the Federal Register. The […]

Author: Scarinci Hollenbeck, LLC

September 18, 2013

Scarinci Hollenbeck Receives “Best in Industry" Award for Pro Bono Website

Scarinci’s Hollenbeck’s comprehensive Constitutional Law Reporter helps to serve the interests of law schools and legal scholars across the country Lyndhurst, NJ, September 17, 2013 – Scarinci Hollenbeck has been named a winner of the 2013 New Media Award’s Web Awards Competition. Scarinci Hollenbeck earned the Best in Industry award for its Constitutional Law Reporter. […]

Author: Scarinci Hollenbeck, LLC

September 17, 2013

Just In

San Bernardino Commits to Mediation 'Outline'

One week after a U.S. Bankruptcy Judge ruled that the city of San Bernardino is eligible to seek protection under the provisions of Chapter 9 municipal bankruptcy, city officials committed to preparing an “outline” by October 15 when they enter into discussions with creditors and a mediator. The city will be required to enter into […]

Author: Joel R. Glucksman

September 17, 2013

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