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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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Hedge Fund's Real Estate Unit Placed into Bankruptcy to Avoid Litigation

Hedge fund billionaire John Paulson has placed the real estate unit of his hedge fund into bankruptcy to avoid litigation, including a costly lawsuit brought against it by a lender. Five Mile Capital Partners recently brought a suit against executives of Paulson’s MSR Hotels & Resorts Inc. – the real estate arm of Paulson & Co. […]

Author: Joel R. Glucksman

May 24, 2013

IRS Goes After Billionaire Sumner Redstone for 1972 Tax Gift

Billionaire Sumner Redstone may be on the hook for a large sum of money relating to a tax gift he made to his children in 1972 if the Internal Revenue Service has its way. The federal agency claims Redstone owes $1.1 million in taxes, penalties, and interest relating to stock given to his children 41 […]

Author: Frank L. Brunetti

May 24, 2013

Court Grants ResCap Extension to File Reorganization Plan

A U.S. Bankruptcy Court has granted Residential Capital’s request for a 30-day extension in filing its reorganization plan. During this period, the company will be unencumbered by the risk of rival proposals. In a U.S. Bankruptcy Court in Manhattan, Judge Martin Glenn addressed the progress that’s already been made in the contentious and ongoing bankruptcy dispute, and […]

Author: Joel R. Glucksman

May 23, 2013

Reorganization Plan

Environmental Attorneys Successful in Appellate Division Appeal

Congratulations to environmental attorneys John M. Scagnelli and William A. Baker of the Environmental and Land Use Group in a successful appeal for R&K Associates, LLC (“R&K”). Scagnelli and Baker represented R&K, the current owner of industrial property in Livingston, New Jersey, in a successful appeal brought before the New Jersey Superior Court, Appellate Division […]

Author: Scarinci Hollenbeck, LLC

May 22, 2013

Former NBA Union Exec Filed a Lawsuit Against President Derek Fisher

Billy Hunter, ousted National Basketball Players Association executive director, filed a lawsuit against the union and its new president, Derek Fisher, in a California Superior Court. Billy Hunter is suing the parties for defamation and breach of contract stemming from his dismissal, alleging that a secret deal reached between Fisher and publicist Jamie Wior to end the 2011 […]

Author: Anthony R. Caruso

May 22, 2013

IRS and the Tea Party

One of the many controversies in Washington, D.C. is the dispute arising out of the Internal Revenue Service’s extensive review of applications of exempt organizations using the names with words such as “Tea Party,” “Patriots” and “We The People.” I spent some time explaining to a client how the review process between the IRS and […]

Author: James F. McDonough

May 22, 2013

Data Breach Can Be Prepared For And Stopped When it Comes Your Business

Last month, Associated Press’ Twitter account fell victim a data breach after hackers sent a fake tweet from their account referencing an explosion at the White House. The tweet caused the Dow Jones Industrial Average to plunge more than 100 points within seconds. This latest incident highlights not only how disruptive a data breach can […]

Author: Fernando M. Pinguelo

May 22, 2013

Cengage Considering Bankruptcy Proceedings

Cengage Learning, the elite academic content and software corporation, is strongly considering seeking bankruptcy proceedings following the release of disappointing third quarter financial results. In a conference call with reporters, Cengage CEO Michael Hansen explained that the company was forced to borrow the whole of its remaining available credit limit – approximately $430 million – in […]

Author: Joel R. Glucksman

May 21, 2013

Will Bitcoins Become New Strategy for Online Sports Gamblers?

Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency. Bitcoins have become a popular topic of discussion recently, as lawmakers and regulators address the complex questions revolving around this digital currency. For example, the virtual Bitcoins are now being used more frequently […]

Author: Anthony R. Caruso

May 20, 2013

IRS 'Robo-Audits' & Privacy Concerns

The Internal Revenue Service was not wholly unaffected by budget cuts and the federal sequester, and saw many of its financial resources diminished as a result. In response, the IRS may lean on technology solutions to detect tax law violations and penalize criminals. However, the agency’s use of new data mining innovations has raised a […]

Author: Frank L. Brunetti

May 20, 2013

Supreme Court Sides With Monsanto

The U.S. Supreme Court recently sided with Monsanto Co. in a closely watched case involving patented soybean seeds. The Court concluded that an Indiana farmer could not copy patented seeds through planting and harvesting without Monsanto’s permission. The Facts of the Case Monsanto holds patents for Roundup Ready soybean seeds, which contain a genetic alteration […]

Author: Fred D. Zemel

May 20, 2013

“Gentlemen’s Club” Loses NYC Wage Lawsuit

As a New York City “gentlemen’s club” can attest, a wage lawsuit can be costly for employers. The Penthouse Executive Club recently agreed to pay its dancers a total of $8 million to resolve allegations of a wage lawsuit that it failed to pay proper wages and misclassified workers as independent contractors. The initial New […]

Author: Dan Brecher

May 17, 2013

Employment attorney NYC

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