In This Issue:
- New York’s Highest Court Clarifies Who Bears the Risk of Loss in Counterfeit Check Schemes
- A Litigation’s Venue May Determine Whether the Producing Party Can Shift E-Discovery Costs to the Requesting Party
- Buy-Sell Agreements Can Avoid Uncertainties in Business Valuations
- Super Control Board May Be in the Near Future for New York State
- Excerpt from Super Control Board May Be in the Near Future for New York State:
Amid signs of an improving economic climate, municipalities continue to struggle to meet financial obligations. At a time when most industries are now showing positive job growth, the government sector continues to slash positions to stay within budget. As a result of increasing deficits, unfunded liabilities for retiree healthcare, and the ever increasing likelihood of exceeding the constitutional tax limit, several local governments are on the verge of bankruptcy in New York State. Consequently, there is growing discussion of imminent legislation that would create a “Super Control Board” patterned on the Emergency Financial Control Board, which was first created to address the New York City fiscal crisis of 1975. Creation of such a “Super Control Board” would affect, among other things, the approval of and payment on distressed municipalities’ contracts with their vendors in the private sector.
Please see full newsletter below for more information.
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