Civil Procedure, Commercial Law & Contracts, Business Organization

Navigating Pennsylvania’s Tax Appeals Process -- Updated

by James Fritz | McNees Wallace & Nurick LLC on 5/21/2013

Pennsylvania’s tax appeal system has long been criticized as very complicated, expensive and lacking impartiality. A few years ago, the PA Chamber and other interested groups were able to work with the General Assembly to...more

Extinguishment of Commercial Leases by Liquidators Appointed to Landlord Companies - Signalling a potential change in the law for...

by Ryan Hennessey, Peter Lucarelli | Baker & McKenzie Australia on 5/15/2013

Commercial tenancies may be extinguished by a liquidator appointed to a landlord company by exercising the statutory right under the Corporations Act 2001 (Cth) to disclaim certain property....more

Illinois Tax Developments - A Reed Smith Quarterly Update (1st Quarter 2013)

by Adam P. Beckerink, Denise Obrochta, Jennifer C. Waryjas, Michael Wynne | Reed Smith on 5/8/2013

Welcome to the first of a new series of quarterly updates from Reed Smith on state tax developments in Illinois. Every three months we will be giving you updates on the key cases and administrative releases, as well as...more

Registration Of Condominium Liens - Time Is Of The Essence

by Barbara Holmes | Heenan Blaikie LLP on 5/8/2013

In a recent case, YCC No. 82 v. Bujold, the Court of Appeal considered the interpretation of Section 85 of the Condominium Act (the “Act”) and, in particular, the timing requirements under the Act relating to notice of the...more

Blaustein, et al. v. Lord Baltimore Capital Corp., et al., C.A. No. 6685-VCN, (Del. Ch. Apr. 30, 2013) (Noble, V.C.)

by Potter Anderson & Corroon LLP on 5/7/2013

In this memorandum opinion, the Court of Chancery granted defendants’ summary judgment motion dismissing claims based on the implied covenant of good faith and fair dealing under a shareholders’ agreement and further denied...more

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

by Mark Chehi, Van Durrer | Skadden, Arps, Slate, Meagher & Flom LLP on 4/30/2013

Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more

Supreme Court to Consider General Jurisdiction Over Foreign Parent Based on U.S. Subsidiary

by Jason Britt | Foley & Lardner LLP on 4/26/2013

On Monday, April 22, the United States Supreme Court agreed to hear DaimlerChrysler AG v. Bauman, which asks whether a foreign parent corporation can be subject to suit in the United States for wrongs allegedly committed by a...more

Taxpayer Challenges Validity of IRS Transfer Pricing Regulation

by Steven Hannes | McDermott Will & Emery on 4/19/2013

In a petition recently filed in the U.S. Tax Court, a taxpayer has challenged the Internal Revenue Service (IRS) regulation that provides that the IRS can reallocate income between affiliates even when foreign law prohibits...more

Claims Trading From The Inside Out: Ninth Circuit BAP Holds That A Non-Insider Claimant's Vote On A Plan Is Not Discounted Merely...

by Michael Lauter | Sheppard Mullin Richter & Hampton LLP on 4/19/2013

In an unpublished decision in In re The Village at Lakeridge, LLC, BAP Nos. NV-12-1456 and NV-12-1474 (B.A.P. 9th Cir. Apr. 5, 2013), the United States Bankruptcy Appellate Panel of the Ninth Circuit held that a vote on a...more

New York Court Rules that Professional Services Exclusion Bars Coverage for Underlying Actions Brought By FINRA and Private...

by Eryk Gettell | Sedgwick LLP on 4/12/2013

In David Lerner Associates, Inc. v. Philadelphia Indemnity Insurance Company, 2013 WL 1277882 (E.D.N.Y. Mar. 29, 2013), the United States District Court for the Eastern District of New York affirmed the plain meaning of the...more

Tax Court Of Canada Appeal Of Large Corporation Thwarted By Wording Of Objection

by Cheryl Gibson | Dentons on 4/11/2013

Since 1995, the Large Corporation Rules found in subsections 165(1.11), 169(2.1) and 152(4.4) of the Income Tax Act (Canada) have applied to discourage large corporations from objecting to tax assessments as a means of...more

Li v. Standard Fiber, LLC, C.A. No. 8191-VCN (Del. Ch. Mar. 28, 2013) (Noble, V.C.)

by Potter Anderson & Corroon LLP on 4/10/2013

In this memorandum opinion, the Delaware Court of Chancery stayed an action for advancement of legal fees and expenses, ruling that provisions in four separate agreements, when viewed together, demonstrated the parties’...more

April 2013: London Litigation Update

by Quinn Emanuel Urquhart & Sullivan, LLP on 4/9/2013

Piercing the Corporate Veil: VTB Capital plc v. Nutritek International Corp and Others [2013] UKSC 5 - In a recent case, the United Kingdom Supreme Court unanimously refused to pierce the corporate veil in order to treat an...more

Eluv Holdings (BVI) Ltd., et al. v. Dotomi, LLC, C.A. No. 6894-VCP (Del. Ch. Mar. 26, 2013) (Parsons, V.C.)

by Potter Anderson & Corroon LLP on 4/8/2013

The Court of Chancery’s memorandum opinion in Eluv Holdings (BVI) Ltd. v. Dotomi, LLC awarded a defendant company summary judgment on plaintiffs’ claim for declaratory judgment regarding their purported ownership of...more

New Jersey Makes Itself Business Friendly

by Marshall McLean | McCarter & English, LLP on 4/8/2013

On April 2, 2013, Governor Chris Christie signed P.L. 2013, C.40, P.L. 2013, C.41 and P.L. 2013, C.42 into law. The three laws are intended to make New Jersey more business friendly by aligning New Jersey's corporate statutes...more

Delaware Supreme Court Reverses Chancery And Gives Collateral Estoppel Effect To California Federal Court’s Dismissal Of...

by Bradley Voss | Pepper Hamilton LLP on 4/5/2013

In its widely followed Allergan decision, the Delaware Court of Chancery declined to apply collateral estoppel to dismiss a Delaware derivative complaint even though a California federal court dismissed (with prejudice)...more

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Civil Procedure › Commercial Law & Contracts › Business Organization

Navigating Pennsylvania’s Tax Appeals Process -- Updated

Extinguishment of Commercial Leases by Liquidators Appointed to Landlord Companies - Signalling a potential change in the law for...

Illinois Tax Developments - A Reed Smith Quarterly Update (1st Quarter 2013)

Registration Of Condominium Liens - Time Is Of The Essence

Blaustein, et al. v. Lord Baltimore Capital Corp., et al., C.A. No. 6685-VCN, (Del. Ch. Apr. 30, 2013) (Noble, V.C.)

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

Supreme Court to Consider General Jurisdiction Over Foreign Parent Based on U.S. Subsidiary

Taxpayer Challenges Validity of IRS Transfer Pricing Regulation

Claims Trading From The Inside Out: Ninth Circuit BAP Holds That A Non-Insider Claimant's Vote On A Plan Is Not Discounted Merely...

New York Court Rules that Professional Services Exclusion Bars Coverage for Underlying Actions Brought By FINRA and Private...

Tax Court Of Canada Appeal Of Large Corporation Thwarted By Wording Of Objection

Li v. Standard Fiber, LLC, C.A. No. 8191-VCN (Del. Ch. Mar. 28, 2013) (Noble, V.C.)

April 2013: London Litigation Update

Eluv Holdings (BVI) Ltd., et al. v. Dotomi, LLC, C.A. No. 6894-VCP (Del. Ch. Mar. 26, 2013) (Parsons, V.C.)

New Jersey Makes Itself Business Friendly

Delaware Supreme Court Reverses Chancery And Gives Collateral Estoppel Effect To California Federal Court’s Dismissal Of...

Nevada Legislature Considers Bill To Authorize Forum Selection Charter Provisions

Third Circuit Addresses Insured Status for Lessor of Commercial Auto

Zutrau v. Jansing, C.A. No. 7457-VCP (Del. Ch. Mar. 18, 2013) (Parsons, V.C.)

Directors Found To Be In Contempt Of A Court Order

Corporate and Financial Weekly Digest - March 8, 2013

In re BioClinica, Inc. S’holder Litig., Consol. C.A. No. 8272 (Del. Ch. Feb. 25, 2013) (Glasscock, V.C.)

FTB Announces Temporary Reprieve on Retroactive Assessment of Qualified Small Business Stock Taxes

Private Equity Fund Considerations In Light Of Delaware’s LLC Debate

Authority To Enter Into Contract Is Issue For Courts, Not Arbitrators

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