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The next several years will see significant changes in the legal profession. It will not be the end of the world; most law firms will survive. This article discusses two distinct world views that will determine which firms will likely prosper, and which will survive.
Features
Most financial misunderstandings can be avoided if firm management were to use some fairly straightforward communication techniques with their general partnership. This article compiles a few considerations for a law firm's head-of-finance.
The IRS has selected your firm for audit. Are you ready? You may be in for a surprise if you ever accept retainers, accept payment for services in kind, accept client trust funds, advance client costs in connection with matters you are handling, or have any service providers not on the regular payroll.
Features
Highlights of the latest equipment leasing news from around the country.
Features
The two-part article, titled 'Braving Tempestuous Times ' Hell-or-High-Water Obligations Maintain Their Viability Despite Leasing Scams and a Troubled Economy,' which appeared in the February and March 2010 editions of this newsletter, discussed several recent court decisions that ruled on the enforceability of hell-or-high-water obligations and waiver-of-defenses provisions in leases and accounts receivable financings. This article provides further elaboration of issues raised by two of these cases.
Features
In ordinary economic times, the most common deficiency in applications for judgment by confession is the failure to include sufficient detail concerning the basis for a judgment. Recently, however, the pendulum has swung in the opposite direction. Instead of providing insufficient detail, attorneys have been filing exceedingly complex applications based on sophisticated and voluminous commercial transactions, many of which have been denied because, in short, they are too complicated.
Features
This article covers several vessel-leasing-related topics that have increasing prominence in today's world, including: ship recycling issues; the increasing tendency to treat environmental events as criminal; Section 1110 of the Bankruptcy Code; and piracy.