Easy As FMV: Modern Fair Market Value Renewal Methods
July 02, 2017
This article discusses the competing interests and criteria of landlords and tenants in defining fair market value, explores various mechanisms used for resolving disputes over fair market rental rates, and concludes with proposed language that represents a healthy compromise for both sides.
Public Trust Doctrine Thwarts Willets Point Redevelopment
July 02, 2017
In <i>Matter of Avella v. City of New York,</i> the Court of Appeals enjoined development of a retail mall on what is now Citi Field's parking lot, holding that the development proposal would constitute an impermissible alienation of parkland by the City of New York.
Trial Judge Acts Over Hacking of Plaintiffs' Emails In Media Dispute
July 02, 2017
A New York trial court judge struck a defendant's answer in a media-based breach of fiduciary duty and unfair competition suit, after finding that 2,000 emails, including attorney-client privileged information possessed by the plaintiffs, had been hacked and stolen.
Law Firm Strategy Execs Wield Uneven Clout
July 02, 2017
The role of chief strategy officer (CSO) — increasingly common in corporate America — has been adopted by relatively few law firms. Consultants say perceptions of what the position entails and whether it's necessary vary widely throughout the legal industry.
Product Liability, Bankruptcy and the Proceeds of Legal Action
July 02, 2017
A recent case dealt with an unusual question presented to a bankruptcy court by a debtor's medical device product liability claim: If, at the time of bankruptcy filing, the debtor has a potential civil claim that lacks some of the elements necessary for recovery (which elements may never develop), yet later receives settlement, are the proceeds of that settlement part of the bankruptcy estate?
U.S. Supreme Court Speaks on Discovery Sanctions
July 02, 2017
It is rare for a discovery sanction case to reach the nation's highest court. But on April 18, the U.S. Supreme Court issued its decision in<I> Goodyear Tire & Rubber Co. v. Haeger</I>, reversing a $2.7 million sanctions award that had been rendered by an Arizona district court and affirmed by a divided Ninth Circuit panel.
Compensation Plans: Director-Specific Limits
July 02, 2017
A recent decision by the Delaware Court of Chancery serves as a reminder that boards of directors of Delaware corporations should consider amending their companies' director compensation plans to include specific limits on the amount of compensation that a director may be awarded in a given year, and obtaining stockholder approval of such compensation plans.
Forensic Accounting: When Do You Need It?
July 02, 2017
Most matrimonial attorneys have heard a client, typically the "out-spouse" in a marriage with a business interest, say, "The books are cooked," or "Personal expenses are being paid by the business," or "The accounting records are fiction." Failing to probe these issues may cost your client a lot of money when the asset division takes place, and may leave him or her dissatisfied with your representation.
