Stipulation That Resolves Entire Amount Must Reflect Intent of Parties
July 01, 2022
The Ninth Circuit recently affirmed a lower courts' rulings that a stipulation between the IRS and a bankruptcy trustee, which allowed the IRS's priority tax claim, did not prevent the IRS from collecting nondischargeable tax debt above the agreed amount in that stipulation.
Questions Surround Expanded Government Authority to Seize Russian Assets
July 01, 2022
The purpose behind the Biden Administration's proposals to seize assets of Russian oligarchs is to punish a specific action by a state actor — Russia's invasion of Ukraine. The proposals, however, do not appear to be limited to this conduct alone and would outlast Russia's invasion. In times of war, it at least arguably may be appropriate to pass laws to expand the executive's authority to address specific hostile conduct. Such laws, however, should end with the conflict.
Are Large Firm Rates Pushing Clients to Seek Other Alternatives?
July 01, 2022
Firms have been especially deliberate during the pandemic to increase the number of touch points they have with existing business, deepening ties with their roster of current clients by referring matters across practices and rewarding partners for that kind of origination. But with marketing spend surging and clients increasingly willing to move work around, Big Law firms' incumbent advantage could begin to wane.
The FRCP Rule 9(b) Standard In False Claims Act Cases
July 01, 2022
In recent years, federal circuit courts of appeals have set forth somewhat different standards that civil FCA complaints brought by private citizens, known as relators, must meet to satisfy Rule 9(b) — especially regarding whether representative examples of allegedly fraudulent claims must be included in a complaint.
Increased Bankruptcy M&A Activity Should Provide Attractive Opportunities for Lenders
July 01, 2022
It seems clear that bankruptcy filings inevitably will increase in the near future, because of rising interest rates, pandemic-related micro-economic forces, global strife, and other macro-economic factors and their continuing strain on the global economy and individual businesses. Consequently, strategic buyers and private equity sponsors should find expanding opportunities to purchase distressed businesses out of bankruptcy.
Top Law Firms Look to Invest Profits In Future Success
July 01, 2022
There's no doubt that much of the legal industry's profit gains are simply the result of surging demand. But smart firms were also able to harness booming demand to push through rate increases, owing to clients who were desperate to see their deals go through. There's no doubt that the firms taking advantage of this confluence are in an enviable position. That doesn't mean they are sitting on their laurels.
Long Term Demand Should Shield Commercial Real Estate from Inflation Impact
July 01, 2022
The U.S. economy is "still strong" and will support commercial real estate space demand, though inflation will remain a multi-year headwind, forcing the Fed to tighten monetary policy. And though rising interest rates may restrain CRE transaction activity, it won't be on a broad basis, with effects most visible in the property types and markets with the most aggressive pricing run-up over the last few years.
