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Insurance Recovery Law -- May 01, 2013

Insurers Had Duty to Defend Regardless of Whether Allegations in Underlying Cases Are True or False, Says Illinois Court - On April 12, 2013, an Illinois trial court ordered that Travelers Casualty & Surety Company,...more

DEEP Updates Engineered Control Financial Assurance Guidance

On January 31, 2013, the Connecticut Department of Energy and Environmental Protection (DEEP) unveiled revisions to guidance on financial assurance for engineered control variances under the Remediation Standard Regulations...more

Financial Transaction Tax: European Implementation and American Imitation?

Momentum is building to reform the U.S. tax system and address the nation’s fiscal challenges. However, options to raise revenue to reduce the deficit and offset a potential decrease in corporate and individual tax rates are...more

Non-Grantor Trusts – A Double-Edged Solution for Taxpayers Living in States with High Taxes

Overview - This article discusses the use of non-grantor trusts as an asset protection planning tool, while introducing the non-grantor trust as an income tax planning tool in order to reduce taxpayer’s exposure to state...more

Distressed Properties and Environmental Liability: To Foreclose or Not to Foreclose, That is the Question

When the collateral has environmental contamination, the lender is faced with a take-it-or-leave-it dilemma, either of which poses significant financial risk. Taking a property in foreclosure may result in the lender bearing...more

Grubby Money - Lawyers’ Reluctance to Talk About Fees

It’s no secret – and no surprise – that in today’s competitive and cost-constrained legal landscape price has taken center stage: clients are increasingly fixated on tightened budgets and efficient service delivery. It’s also...more

IRS and Treasury Publish New Rules Regarding Payments of Synthetic Dividends

On January 23, 2012, the IRS and the Treasury Department published temporary and proposed regulations under Section 871(m) of the Internal Revenue Code. The regulations implement the tax and withholding regime applicable...more

Many Happy (Consolidated) Returns or ‘Til “DIT” Do Us Part? Final Treasury Regulations Address Intercompany Items of Gain on...

On March 3, 2011, the Internal Revenue Service and Treasury issued final Treasury regulations that amend Treasury Regulation § 1.1502-13 with respect to the treatment of certain intercompany items of gain from transactions...more

Washington Supreme Court Recasts the Economic Loss Rule to Allow Third Party Tort Claims Against Design Professionals

A sharply divided Washington Supreme Court has held that an engineering firm owes a "duty of reasonable care encompassing safety risks of physical damage" to a party not in privity with the engineering firm. The decision in...more

Have law blogs failed to live up to their expectations?

Do law blogs work? This article interviews dozens of law firms to find out whether or not the law blogs have been worth the investment of time, energy and money. From AmLaw 100 firms like Skadden to smaller firms just...more

Rogers Towers: Lender’s Protection When Foreclosing on Contaminated Property

Lenders often hold an “indicia of title” on property as a security interest for a loan. If the buyer has defaulted on the loan and contamination exists on the property, the decision to foreclose can be difficult. However,...more

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