Maximizing Future Medical Damages in Paralysis Cases
December 01, 2017
<b><i>Part One of a Two-Part Article</i></b><p>When you take a catastrophic injury case involving paralysis, it is important to have a thorough understanding of the problems and pitfalls. In this two-part article, I will explore, from personal experience, the different types of future expenses the client can expect to incur.
The Food Safety Modernization Act
December 01, 2017
<b><i>Part Two of a Two-Part Article</i></b><p>Last month, the author began discussion of the Food Safety Modernization Act (FSMA), which will have a large impact on the food and feed industry in the coming years. The author continues here with an explanation of some of the effects the FSMA is expected to have on equipment manufacturers and on lenders and lessors.
Employee Claims in Bankruptcy Pose Significant Liability Exposure
December 01, 2017
<b><i>Lessons Learned From In Re FPMI Solutions Inc.</i></b><p>When a corporation determines to file for Chapter 11 protection, questions concerning the status of existing labor and employment agreements and viability of employee claims immediately arise. Indeed, there are litanies of potential pitfalls for companies that file for bankruptcy without strictly following the requirements of federal or state employment laws.
Criminal Probe of Weinstein Role in amfAR Monies
December 01, 2017
The U.S. Attorney's Office for the Southern District of New York is conducting a criminal investigation into transactions connected to The Foundation for AIDS Research (amfAR) that were arranged by embattled film producer Harvey Weinstein, <i>The New York Times</i> reported. The transactions involved $600,000 raised at a May 2015 auction in Cannes on the French Riviera from a pair of fundraising packages arranged by Weinstein.
The Deductibility of FCA Payments in Light of <b><i>Kokesh</i></b>
December 01, 2017
<b><i>A Business Expense?</i></b><p>In negotiating FCA or similar settlements with the government, one key consideration is the tax treatment of any payment. While not in the context of deductibility, the Supreme Court this year, in<i>Kokesh v. SEC</i>, analyzed whether disgorgement in an SEC enforcement action was punitive or compensatory.
Third-Party Litigation Funding
December 01, 2017
<b><i>A New Option for Resource-Strapped Bankruptcy Estates</i></b><p>Despite third-party litigation funding's explosive growth, corporate restructuring/insolvency practitioners in the U.S. are not yet frequent participants in such arrangements. Yet litigation funding could be especially beneficial to provide a new source of capital for otherwise asset-starved estates.
Defenses of Impossibility of Performance and Frustration of Purpose
December 01, 2017
Parties in complex commercial cases that are accused of defaulting on or breaching a contract may invoke the defense of impossibility, arguing that performance of contractual obligations was rendered impossible by an intervening event. But under New York law, those arguments rarely make it past the motion stage.
<b><i>Ferri v. Powell-Ferri</i></b>: A Critical Planning Case for Practitioners
December 01, 2017
<b><i>The Trust Ferri Could Be Better Than the Tooth Fairy</i></b><p>Practitioners should encourage all clients with existing irrevocable trusts to meet to review those trusts. Modifying old irrevocable trusts through decanting (or other means) might make improvements, or as in the<i> Ferri v. Powell-Ferri</i> case, save the trust assets.
