Author Info for Cole Schotz

Luke Alba

Fifth Circuit Strikes Down SEC Rule Regulating Private Investment Funds

On June 5, 2024, a three judge panel of the U.S. Fifth Circuit Court of Appeals unanimously struck down the Securities and Exchange Commission’s (“SEC”) final rule, which created onerous restrictions for managers of private…more

Dodd-Frank, Duty to Disclose, En Banc Review, Fund Managers, Investment Adviser

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Gary Albrecht

Beware Of Use Of Estoppel As A Shield In Commercial Real Estate

The New Jersey Appellate Division case of Commerce Limited Partnership, Plaintiff-Appellant v. Edison Furniture, LLC, Defendant-Respondent, 2020 WL 820338, is a cautionary tale on the use of estoppel certificates. Although the…more

Commercial Real Estate Market, Estoppel, Estoppel Certificates, Landlords, Tenants

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Andreas Apostolides

New IRS Revenue Procedure Provides Relief for Certain Inadvertent Terminations of S Elections

The IRS recently issued Revenue Procedure 2022-19, which permits S corporations to remedy certain inadvertent terminations of S corporation status and invalid elections without having to request a costly Private Letter Ruling…more

Disproportionate Share Adjustments, IRS, Private Letter Rulings, Revenue Procedures, S-Corporation

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Gregory Arbogast

Maryland Restricts the Enforceability of Non-Competes for Veterinarians and Certain Other Healthcare Professionals

On April 25, 2024, Maryland joined the growing trend of legislatures and governmental agencies restricting the enforceability of non-compete agreements by enacting H.B. No. 1388, which prohibits non-compete agreements for…more

Employment Contract, Healthcare Workers, Maryland, New Legislation, Non-Compete Agreements

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Joseph Armenti

Corporate Transparency Act – Filing Deadline Quickly Approaching for Entities Formed Prior to January 1, 2024

Effective January 1, 2024, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) required certain newly formed and pre-existing entities to submit information regarding their beneficial owners and…more

Beneficial Owner, Corporate Transparency Act, Filing Deadlines, Financial Crimes, FinCEN

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Shira Baratz

The Run, the Fallout and Considerations for Future Protections

On Friday March 10, 2023, Silicon Valley Bank (“SVB”) was closed by the California Department of Financial Protection & Innovation and the FDIC was named receiver. While it seems a crisis has been averted for SVB and its…more

Credit Agreements, Department of Financial Protection and Innovation (DFPI), Deposit Accounts, Deposit Insurance, FDIC

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Drew Barone

Freddie Mac Announces Further Relief For Multifamily Property Owners – Will Fannie Mae Follow Suit?

To continue to mitigate against the devastating economic effects of COVID-19, Freddie Mac provided further relief for multifamily landlords and tenants by revising its existing Multifamily COVID-19 Forbearance Program…more

CARES Act, Coronavirus/COVID-19, Fannie Mae, Freddie Mac, Relief Measures

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Marian Bekheet

Courts Must Apply Relevant Factors When Awarding Counsel Fees In Will Contests

In a recent unpublished opinion, the New Jersey Appellate Division summarized the factors a trial court must consider when awarding attorneys’ fees in Will contests. In Matter of the Estate of Fornaro, 2019 WL 2172791, the…more

Attorney's Fees, Estate Planning, Will Contest, Wills

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Wendy Berger

NJ And NY Liquor Licenses- Alcoholic Beverage Sales And Service

As part of the phased opening of businesses in New Jersey limited outdoor restaurant food and beverage service is set to begin on June 15th. Operators should remember to obtain all necessary consent from their Landlord to permit…more

Coronavirus/COVID-19, Hospitality Industry, Liquor Licences, New Jersey, New York

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Marc Berman

New Jersey Requires Employers To Offer Transportation Fringe Benefits

On March 1, 2019, New Jersey became the first state to enact legislation, Senate Bill No. 1567 (“An Act concerning pre-tax transportation fringe benefits”), requiring employers with 20 or more employees to offer pre-tax…more

Compensation & Benefits, Employee Benefits, Employer Liability Issues, Fringe Benefits, Tax Cuts and Jobs Act

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Marcella Bodner

COVID-19 Prioritized Examination Pilot Program

Small business efforts to patent technology which deals with the COVID-19 outbreak will be getting a boost thanks to the United States Patent and Trademark Office (USPTO)..…more

Coronavirus/COVID-19, Federal Register, Food and Drug Administration (FDA), Micro Entity Status, Patent Applications

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Michael Bonkowski

Delaware Court Orders Sale of Solvent Company’s Stock Despite Shareholder Objections

Delaware General Corporate Law § 226 (the “Custodian Statute”) bestows the Delaware Court of Chancery with the power to appoint a custodian for solvent companies and receivers for insolvent companies in certain circumstances…more

Board of Directors, Delaware General Corporation Law, Directors, Shareholder Litigation, Shareholders

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David Borsack

Fifth Circuit Strikes Down SEC Rule Regulating Private Investment Funds

On June 5, 2024, a three judge panel of the U.S. Fifth Circuit Court of Appeals unanimously struck down the Securities and Exchange Commission’s (“SEC”) final rule, which created onerous restrictions for managers of private…more

Dodd-Frank, Duty to Disclose, En Banc Review, Fund Managers, Investment Adviser

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Catherine Bostock

TT&E: Tax, Trusts And…Environmental?

Whenever estate planning involves the transfer of a business or real estate, environmental issues can be important drivers. Owners and operators of real property are strictly liable for the remediation of any contamination on…more

Contaminated Properties, Contamination, Estate Planning, Remediation

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Adam Bouvier

Fifth Circuit Strikes Down SEC Rule Regulating Private Investment Funds

On June 5, 2024, a three judge panel of the U.S. Fifth Circuit Court of Appeals unanimously struck down the Securities and Exchange Commission’s (“SEC”) final rule, which created onerous restrictions for managers of private…more

Dodd-Frank, Duty to Disclose, En Banc Review, Fund Managers, Investment Adviser

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Aaron Brotman

A Good Neighbor: Obligations of the Neighboring Property Owner to a Development Site in NYC

Simply owning property in New York City likely means that, at some point – more than once – a neighbor will need to access your property to protect it during development or maintenance work taking place at its adjacent property…more

Bad Faith, Land Developers, Maintenance, New York, Property Access

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Mary Browning

In the Midst Of The Pandemic, Advanced Directives Come To The Fore

As the Covid-19 pandemic has swept across the nation and around the world, those of us who practice in the areas of Wills, Trusts and Estates have noted an increase in calls from clients alarmed by what they are seeing on the…more

Coronavirus/COVID-19, Estate Planning, Infectious Diseases, Pandemic, Trusts

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Inga Caldwell

WOTUS Woes Continue

U.S. Supreme Court Articulates New Test for Determining Whether Wetlands Are Protected Under the Clean Water Act - On May 25, the U.S. Supreme Court in Sackett v. EPA clarified the scope of the “waters of the United States”…more

Clean Water Act, Environmental Policies, Environmental Protection Agency (EPA), Federal Jurisdiction, Inland Waterways

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Elizabeth Carbone

The Southern District Of New York Finds That COVID-19 Is A “Natural Disaster”

The Southern District of New York has recently issued a decision that could ultimately have a significant impact on the enforceability of contracts that required performance during the COVID-19 pandemic. In JN Contemporary Art,…more

Art Auctions, Breach of Contract, Coronavirus/COVID-19, Force Majeure Clause, Natural Disasters

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Nicholas Cardoso

New Jersey Employers May Be Legally Required to Reimburse Certain Business Expenses

In a recent unpublished decision, the New Jersey Appellate Division considered whether employers are required to reimburse employees for business related expenses under the New Jersey Wage Payment Law (“NJWPL”) in Sands v. Board…more

Business Expenses, New Jersey, Reimbursements, State Labor Departments, State Labor Laws

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Jeffrey Cash

Fifth Circuit Strikes Down SEC Rule Regulating Private Investment Funds

On June 5, 2024, a three judge panel of the U.S. Fifth Circuit Court of Appeals unanimously struck down the Securities and Exchange Commission’s (“SEC”) final rule, which created onerous restrictions for managers of private…more

Dodd-Frank, Duty to Disclose, En Banc Review, Fund Managers, Investment Adviser

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Christopher Caslin

Leveling The Playing Field For Hospitality Franchisees In New Jersey

Just prior to Memorial Day, the New Jersey Assembly passed legislation intending to bring more balance between hotel franchisors and franchisees. As a supplement to the New Jersey Franchise Practices Act, the new legislation –…more

Consumer Fraud, Franchises, Franchisors, Goods or Services, Hospitality Industry

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David Choyne

2024 Estate and Gift Tax Update

The IRS has announced the official estate and gift exclusion amounts for 2024. For an estate of any decedent dying during calendar year 2024, the Federal applicable exemption will increase from $12.92 million to $13.61…more

Death Tax, Estate Planning, Estate Tax, Estate-Tax Exemption, Generation-Skipping Transfer

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Jamie Clare

NLRB Taking Steps To Strengthen Workers’ Rights; Employers Beware

On May 30, 2023, the National Labor Relations Board’s General Counsel, Jennifer Abruzzo, issued a Memorandum stating that, except in limited circumstances, the proffer, maintenance, and enforcement of non-compete agreements…more

Employee Rights, Independent Contractors, NLRA, NLRB, Protected Concerted Activity

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Heather Demirjian

WOTUS Woes Continue

U.S. Supreme Court Articulates New Test for Determining Whether Wetlands Are Protected Under the Clean Water Act - On May 25, the U.S. Supreme Court in Sackett v. EPA clarified the scope of the “waters of the United States”…more

Clean Water Act, Environmental Policies, Environmental Protection Agency (EPA), Federal Jurisdiction, Inland Waterways

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Robert DiPisa

New Jersey Housing And Mortgage Finance Agency Suspends Rent Increases For 36,000 Rental Units During COVID-19 Pandemic

The New Jersey Housing and Mortgage Finance Agency (NJHMFA), a state agency dedicated to increasing the availability of and accessibility to safe, decent and affordable housing, unanimously voted to temporarily suspend rent…more

Coronavirus/COVID-19, Executive Orders, Governor Murphy, Real Estate Market, Relief Measures

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Nicole Dlugosz

Eligible New York City Building Owners: Now Is The Time To Take Advantage Of C-PACE Financing

In early June, the first Commercial Property Assessed Clean Energy (“C-PACE”) transaction closed in New York City, courtesy of C-PACE financing provided by Petros PACE. In connection with a larger $500 million dollar…more

Carbon Emissions, Clean Energy, Commercial Property Owners, Financing, New York

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Samantha Epstein

The Corporate Transparency Act

Effective January 1, 2024, the U.S. Department of Treasury’s Financial Crimes Enforcement Network (“FinCEN”) will require certain newly formed and pre-existing entities to submit information regarding their beneficial owners…more

Anti-Money Laundering, Beneficial Owner, CEOs, Corporate Transparency Act, Employer Identification Number (EIN)

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Jason Finkelstein

Fifth Circuit Strikes Down the DOL Tip Credit Rule

On August 23, 2024, in Restaurant Law Center v. U.S. Department of Labor, the U.S. Court of Appeals for the Fifth Circuit vacated the U.S. Department of Labor’s (“DOL”) December 2021 final rule that had set strict limits on the…more

Chevron Deference, Department of Labor (DOL), Fair Labor Standards Act (FLSA), Food Service Workers, Loper Bright Enterprises v Raimondo

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Jordan Fisch

SBA Issues Frequently Asked Questions Regarding Paycheck Protection Program Loans

On April 6th, the Small Business Administration (“SBA”), in consultation with the Treasury Department, released Frequently Asked Questions (“FAQs”) designed to address borrower and lender questions around the implementation of…more

CARES Act, Coronavirus/COVID-19, Financial Stimulus, SBA, SBA Lending Programs

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Jenny Flom

Navigating The Added Challenges Of Divorce In New Jersey With A Special Needs Child

Divorce is an unfortunate reality for many couples and can be especially complicated and heartbreaking when children are involved. Parents of children with special needs, however, face additional challenges…more

Child Custody, Divorce, Guardians, Parenting Plans, Special Needs Children

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Jacob Frumkin

Bankruptcy Court Finds Committee Member To Have Breached Her Fiduciary Duty To Unsecured Creditors

On November 15, 2019, the U.S. Bankruptcy Court for the Central District of California (the “Court”) issued an opinion in the case of Naylor v. Farrell (In re Farrell), Ch. 7 Case No. 14-11729-MW, Adv. No. 16-01123 (Bankr. C.D…more

Bankruptcy Court, Breach of Duty, Chapter 11, Creditors, Fiduciary Duty

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Christopher Gagic

In the Midst Of The Pandemic, Advanced Directives Come To The Fore

As the Covid-19 pandemic has swept across the nation and around the world, those of us who practice in the areas of Wills, Trusts and Estates have noted an increase in calls from clients alarmed by what they are seeing on the…more

Coronavirus/COVID-19, Estate Planning, Infectious Diseases, Pandemic, Trusts

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Toni Gallo

The Moelis Decision and its Potential Effect on Corporate Law in Delaware

A recent decision by the Delaware Court of Chancery, W. Palm Beach Firefighters’ Pension Fund v. Moelis & Co. (“Moelis”), held corporate shareholder agreements are invalid if they impose certain restrictions on the Company’s…more

Corporate Counsel, Delaware, Delaware General Corporation Law, Governance Standards, Pension Funds

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Brian Gardner

New York Amends Its Law on Withholding of Retainage and Final Invoicing on Private Construction Projects

On November 17, 2023, Governor Hochul signed a bill placing significant restrictions on the amount of retainage that can be withheld from contractors and subcontractors, and permitting the earlier submission of final billing for…more

Amended Legislation, Construction Contracts, Construction Industry, Construction Project, Contractors

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Daniel Geoghan

Guideline For Companies Responding To The COVID-19 Pandemic

First, do no harm. The shutdown of businesses by government order was sudden. Most companies were unprepared. Decisions made quickly that are not carefully thought through can create liability down the road that make it harder…more

Business Closures, Business Interruption, Coronavirus/COVID-19

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David Gold

Business Owners: Are You Streaming Music?

The digital age has not only transformed the manner in which individuals listen to music, but also the ease by which businesses can stream music into their public spaces. However, the convenience of digital media players and…more

Copyright, Copyright Infringement, Music Industry, Music Streaming

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Jonathan Goodelman

New Jersey to Allow Private Code Inspectors to Pick Up the Slack

Are you a New Jersey property owner or developer being ignored by an overwhelmed municipal building code inspector? Well, New Jersey has just passed a law that will provide you – and local officials – with some relief…more

Building Inspectors, Commercial Leases, Construction Project, Inspections, Landlords

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Dalila Haden

Key Ruling on Real Estate Broker Classification Announced by New Jersey Supreme Court

The New Jersey Supreme Court recently held that an agreement between a real estate salesperson (i.e., a realtor) and a real estate broker designating the salesperson as an independent contractor is dispositive in determining…more

Employment Contract, Independent Contractors, NJ Supreme Court, Real Estate Agents, Real Estate Brokers

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Courtney Hindin

New EEOC Guidance Highlights Potential COVID-19 Caregiver Discrimination Claims

On March 14, 2022, the U.S. Equal Employment Opportunity Commission (“EEOC”) issued a new technical assistance document (the “Guidance”) addressing the interplay between existing federal employment discrimination principles…more

Caregivers, Civil Rights Act, Coronavirus/COVID-19, Employer Liability Issues, Employment Discrimination

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Rebecca Hollander

You Can Go Your Own Way… Unless the Supreme Court Reverses Jevic

On November 28, 2016, the Supreme Court is scheduled to hear oral arguments in the appeal of Official Committee of Unsecured Creditors v. CIT Group/Business Credit Inc. (In re Jevic Holding Corp.), 787 F.3d 173 (3d Cir. 2015),…more

Absolute Priority Rule, Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Czyzewski v Jevic Holding Corp

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Perri Hom

URGENT!! EPA COVID-19 Enforcement Policy Ending

As discussed in one of our earlier blogs, back in March 2020, the U.S. Environmental Protection Agency (EPA) issued its controversial Enforcement Policy outlining certain situations where EPA would not pursue enforcement…more

Addendums, Coronavirus/COVID-19, Environmental Policies, Environmental Protection Agency (EPA)

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Adam Horowitz

“Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021” Signed Into Law

On Thursday, March 3, 2022, President Biden signed into law the “Ending Forced Arbitration of Sexual Assault and Sexual Harassment Act of 2021” (the “Act”), following the earlier passage of the Act by both the United States…more

#MeToo, Arbitration Agreements, Employer Liability Issues, Employment Contract, Federal Arbitration Act

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Jennifer Horowitz

Celebrity Endorsers and Potential SEC Scrutiny

As one of the most famous individuals in the world, it is not uncommon for Kim Kardashian (“Kardashian”) to make headlines. Recently, the headline related to fines and penalties to be paid to the Securities and Exchange…more

Celebrity Endorsements, Compliance, Ethereum, Failure To Disclose, Federal Trade Commission (FTC)

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Roger Iorio

SBA Releases Guidance On Paycheck Protection Program 2.0

On January 8, 2021, the U.S. Small Business Administration (“SBA”), in consultation with the Department of Treasury, announced the re-opening of the Paycheck Protection Program (“PPP”) to first-time borrowers and certain…more

Borrowers, CARES Act, Limited Liability Company (LLC), Loan Forgiveness, Paycheck Protection Program (PPP)

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Ryan Jareck

Ninth Circuit Affirms “Per Plan” Approach To Interpret “Impaired Accepting Class” For Bankruptcy Plan Confirmation Purposes

In JPMCC 2007-C1 Grasslawn Lodging, LLC v. Transwest Resort Props. Inc., et al. (In re Transwest Resort Props. Inc.), Case No. 16-16221, 2018 U.S. App. LEXIS 1947 (9th Cir. Jan. 25, 2018), the Ninth Circuit was the first Circuit…more

Bankruptcy Code, Bankruptcy Court, Commercial Bankruptcy, Debtors

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H.C. Jones

Considerations if Your Customer is Potentially Facing Bankruptcy

With the recent uptick in Chapter 11 filings and a further increase expected in the coming quarters, companies across all industries would be wise to consider certain precautionary measures if a customer begins missing or…more

Bankruptcy Preferences, Chapter 11, Contract Termination, Creditors, Executory Contracts

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Michael Kearney

Considerations In Estate Planning For Bitcoin, Ethereum, And Other Crypto-Currencies

While success in crypto-currency investing is far from assured, death, sadly, is. Accordingly, it is vital that investors in Bitcoin and other crypto-currencies are prepared for the unique estate planning factors that apply to…more

Bitcoin, Cryptocurrency, Digital Currency, Estate Planning, Popular

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Jullee Kim

PFAS Breaking News: Regulating to Zero

Earlier today, the U.S. Environmental Protection Agency (EPA) announced the proposed rule for the nation’s very first drinking water standards for per- and polyfluoroalkyl substances (PFAS), the infamous “forever chemicals”…more

CERCLA, Contamination, Drinking Water, Environmental Policies, Environmental Protection Agency (EPA)

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Michael Klauder

No More Laches Defense for Patent Infringement

In what some perceive as a major shift from decades of precedent, the United States Supreme Court held last week that laches – unreasonable delay – is no longer a valid defense against a claim for patent infringement so long as…more

Laches, Patent Infringement, SCA Hygiene Products Aktiebolag v First Quality Baby Products, SCOTUS, USPTO

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Wendy Klein

Bill Introduced in NJ Assembly to Limit Enforcement of Non-Compete and Non-Solicitation Agreements

A bill introduced in the New Jersey Legislature on April 4, 2013, Assembly Bill 3970, seeks to prohibit enforcement of agreements restricting departing employees from competing, disclosing confidential information, or soliciting…more

Hiring & Firing, Non-Compete Agreements, Non-Disclosure Agreement, Non-Solicitation Agreements, Proposed Legislation

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Randi W. Kochman

Texas District Court Strikes Down the FTC’s Non-Compete Ban on a Nationwide Basis

On August 20, 2024, in Ryan LLC v. Federal Trade Commission, Judge Ada Brown of the U.S. District Court for the Northern District of Texas barred the Federal Trade Commission’s (“FTC”) Non-Compete Rule (the “Rule”) from taking…more

Arbitrary and Capricious, Employment Contract, Federal Bans, Federal Trade Commission (FTC), FTC Act

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Stuart Komrower

Top Considerations for Vendors Dealing with Distressed Companies

As of March 2023, commercial chapter 11 filings were up 79% compared to the same period of 2022, which includes a number of large retailers. The first quarter of 2023 saw the highest number of corporate bankruptcy filings in…more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Retailers, Unsecured Debt

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Krista Kulp

Petitioning Creditors Beware: No Right To Setoff For Punitive Damages From Bad Faith Involuntary Bankruptcy Filings

Creditors often think that an involuntary bankruptcy petition is a great bargaining chip when faced with a recalcitrant debtor. However, the actual filing of an involuntary bankruptcy petition (when that petition is filed in…more

Bad Faith, Bankruptcy Code, Creditors, Debtors, Involuntary Bankruptcy

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Emily Lamond

PFAS Breaking News: Regulating to Zero

Earlier today, the U.S. Environmental Protection Agency (EPA) announced the proposed rule for the nation’s very first drinking water standards for per- and polyfluoroalkyl substances (PFAS), the infamous “forever chemicals”…more

CERCLA, Contamination, Drinking Water, Environmental Policies, Environmental Protection Agency (EPA)

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Gary Leibowitz

What Do Edison, Overalls and Opportunity Have in Common?

Thomas Edison famously said that “opportunity is missed by most people because it is dressed in overalls and looks like work.” Consistent with Edison’s musings, companies in an acquisition mode often overlook opportunities that…more

Acquisitions, Chapter 11, Commercial Bankruptcy

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James Lewis V

The U.S. Supreme Court Recently Overturned Affirmative Action Precedent in Higher Education – Will Employer DEI Efforts be Invalidated Next?

On June 29, 2023, the United States Supreme Court ruled in Students for Fair Admissions, Inc. v. President & Fellows of Harvard College that race-conscious admissions programs at Harvard College and the University of North…more

Affirmative Action, Civil Rights Act, College Admissions, Diversity, Diversity and Inclusion Standards (D&I)

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Matthew Love

Buyer Beware: An update on the sweeping changes implemented by the National Association of Realtors and their potential ramifications

Major changes hit the U.S. housing market this past month that may lead to lower housing prices across the nation. These changes stem from a settlement agreement entered into by the National Association of Realtors (“NAR”),…more

Affordable Housing, Antitrust Provisions, Competition, National Association of Realtors, Real Estate Agents

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Melanie Lupsa

Treasury Extends BOTH Deadline To Pay Income Taxes And Deadline To File Income Taxes By 90 Days

Today, the Treasury announced that it will also be pushing back the April 15th deadline to file 2019 income tax returns. As a result, taxpayers will not need to pay income taxes owed for 2019 and will not need to file 2019…more

Filing Deadlines, Income Taxes, IRS, Tax Returns, U.S. Treasury

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Yasaman Mahdi

Real Estate Commission Shake-Up After $1.8 Billion Verdict

A federal jury ruling just changed the game for real estate brokers and the commissions they are permitted to collect. In Sitzer v. the National Association of Realtors, the defendants (which included the National Association of…more

Anti-Competitive, Criminal Conspiracy, Grand Juries, National Association of Realtors, Price Inflation

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Lauren Manduke

Newly-Enacted CARES Act Provides For Expanded Unemployment Compensation Benefits

The much-anticipated Coronavirus Aid, Relief, and Economic Security Act, otherwise referred to as the “CARES Act”, was officially signed into law on Friday, March 27, 2020 and goes into effect on April 1, 2020. While the CARES…more

CARES Act, Coronavirus/COVID-19, Popular, Relief Measures, Unemployment Benefits

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Connor Mannion

The New Jersey Secure Choice Savings Program Act Deadline Nears

On March 28, 2019, New Jersey Governor Phil Murphy signed A-4134, the New Jersey Secure Choice Savings Program Act, also called the NJ Auto-IRA Act (the “Act”), “for the purpose of promoting greater retirement savings for…more

Coronavirus/COVID-19, Covered Employer, Employee Contributions, Governor Murphy, Private Sector

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Christopher Massaro

Parties To Construction Contracts Should Exercise Caution When Allowing An Arbitrator To Change Hats Between Mediator And Arbitrator

Dispute resolution provisions providing for mediation as a prerequisite to arbitration are standard in AIA construction contracts. Parties may nonetheless mutually agree to eliminate or waive those provisions and proceed…more

Arbitrators, Construction Contracts, Construction Industry, Dispute Resolution, Mediation

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Marissa Mastroianni

Fifth Circuit Strikes Down the DOL Tip Credit Rule

On August 23, 2024, in Restaurant Law Center v. U.S. Department of Labor, the U.S. Court of Appeals for the Fifth Circuit vacated the U.S. Department of Labor’s (“DOL”) December 2021 final rule that had set strict limits on the…more

Chevron Deference, Department of Labor (DOL), Fair Labor Standards Act (FLSA), Food Service Workers, Loper Bright Enterprises v Raimondo

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David Meglino

State Contractor Sentenced To 18 Months In Federal Prison Following Conviction For Mail And Wire Fraud In Connection With State-Run And Federally Funded Bridge Maintenance Project

On May 2, 2019, Nathaniel Lorenz was sentenced to 18 months in prison following his November 8, 2018 conviction on eight counts of wire fraud and one count of mail fraud for defrauding the government in connection with a bridge…more

Criminal Prosecution, Mail Fraud, Sentencing, Wire Fraud

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Justin Mei

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 4 of 4)

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified laws…more

Apartments, Housing Developers, Multi-Family Development, New York, Property Tax

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Jordan Metzger

Buyer Beware: An update on the sweeping changes implemented by the National Association of Realtors and their potential ramifications

Major changes hit the U.S. housing market this past month that may lead to lower housing prices across the nation. These changes stem from a settlement agreement entered into by the National Association of Realtors (“NAR”),…more

Affordable Housing, Antitrust Provisions, Competition, National Association of Realtors, Real Estate Agents

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Andreas Milliaressis

Top Considerations for Vendors Dealing with Distressed Companies

As of March 2023, commercial chapter 11 filings were up 79% compared to the same period of 2022, which includes a number of large retailers. The first quarter of 2023 saw the highest number of corporate bankruptcy filings in…more

Bankruptcy Code, Chapter 11, Commercial Bankruptcy, Retailers, Unsecured Debt

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Rachel Mongiello

New Jersey Court Rules That Arbitration Agreements Must Address The Forum For Arbitration

On October 17, 2018, New Jersey’s Appellate Division, in a published decision, refused to enforce an arbitration clause in an employment agreement where the clause did not select a forum for arbitration thereunder or describe a…more

Arbitration, Arbitration Agreements, Employment Contract, Employment Litigation, Motion to Compel

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Reuben Muller

Employee Retention Credit Voluntary Disclosure Program to Be Reopened: What You Need to Know

On July 26, 2024, the IRS announced that they are in the final stages of reopening the Employee Retention Credit (ERC) Voluntary Disclosure Program. The ERC is a credit that was available to certain eligible employers against…more

Coronavirus/COVID-19, Corporate Counsel, Employee Retention, Employment Tax, IRS

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Donald Ottaunick

Pennsylvania Senate Attempts To Help Business Interruption Policyholders

Over the past two months, numerous state legislatures introduced bills targeted toward voiding the virus exclusion included in most business interruption insurance provisions in commercial property policies. None of the bills…more

Business Interruption, Coronavirus/COVID-19, Infectious Diseases, Insurance Claims, Insurance Industry

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Marta Paczkowska

Update – New York Power Of Attorney Law Goes Into Effect

On June 12, 2021, New York’s new Power of Attorney law (A.5630-A/S.3923-A) went into effect. As a reminder, the law simplifies New York’s Power of Attorney form and implements penalties for improper rejection of a New York…more

New Legislation, New York, Power of Attorney, Third-Party

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Erin Palmer

WOTUS Woes Continue

U.S. Supreme Court Articulates New Test for Determining Whether Wetlands Are Protected Under the Clean Water Act - On May 25, the U.S. Supreme Court in Sackett v. EPA clarified the scope of the “waters of the United States”…more

Clean Water Act, Environmental Policies, Environmental Protection Agency (EPA), Federal Jurisdiction, Inland Waterways

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Robyn Pellegrino

Reflecting The Parties’ Intentions In Operating Agreements: Reminder On Silent Terms

Does your operating agreement reflect your intentions? New Jersey’s Revised Uniform Limited Liability Company Act (the “RULLCA”) became effective on March 18, 2013. As noted in a post we authored in 2014, although initially…more

Limited Liability Company (LLC), Members, Operating Agreements, RULLCA, Voting Rights

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Norman Pernick

New Delaware Chapter 11 Filing – La Paloma Generating Company, LLC

La Paloma Generating Company, LLC and two of its affiliates have filed petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12700). The Debtor is the owner…more

Chapter 11, Commercial Bankruptcy, Debtors

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Gary Phillips

2024 Estate and Gift Tax Update

The IRS has announced the official estate and gift exclusion amounts for 2024. For an estate of any decedent dying during calendar year 2024, the Federal applicable exemption will increase from $12.92 million to $13.61…more

Death Tax, Estate Planning, Estate Tax, Estate-Tax Exemption, Generation-Skipping Transfer

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Ian Phillips

No More Non-Competes?

On Tuesday, April 23rd, the Federal Trade Commission issued a rule banning all new and many existing employer and employee non-competition restrictions nationwide, subject to very limited exceptions (the “Rule”). The Rule…more

CEOs, Employment Contract, Federal Bans, Federal Register, Federal Trade Commission (FTC)

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Arnold Picinich

New Jersey Increases An Employer’s Liability Under Wage Laws

Earlier this month New Jersey enacted the comprehensive Anti-Wage Theft Law (the “Act”), which amends certain critical provisions in New Jersey’s existing Wage Payment Law, the Wage Collection Law, and the Wage and Hour Law (the…more

Anti-Retaliation Provisions, Criminal Penalties, Employer Liability Issues, State Labor Laws, Wage and Hour

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Marc Press

COVID – 19 Update: New York Residential Mortgage And Other Banking Relief

On March 21st New York Governor Andrew Cuomo issued an executive order which seeks to protect individuals who experience financial hardship as a result of the COVID-19 pandemic. The executive order does the following: 1…more

Banks, Coronavirus/COVID-19, Emergency Response, Financial Institutions, Financial Services Industry

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Allison Price

Weed it and Reap: Cannabis Rescheduling’s Impact on Tax Deductions

As the state legalization of medicinal and adult-use cannabis spreads across the United States, cannabis producers and retailers are experiencing a rapid increase in production and sales. However, despite this boom in business,…more

Agribusiness, Cannabis Products, Cannabis-Related Businesses (CRBs), Controlled Substances Act, DEA

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Jaime Quick

Named As A Trustee And Wondering What To Do? Here Is A Checklist Of Duties To Get You Started

Maybe a friend or a relative has recently passed away and you just received a communication informing you that you have been named as a trustee. You have no idea what this role entails, and you feel overwhelmed having no prior…more

Asset Management, Beneficiaries, Duty of Loyalty, Estate Planning, Fiduciary Duty

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Patrick Reilley

Derivative Standing When Debtors Are Limited Partnerships And Limited Liability Companies

It is well settled that creditors of an insolvent corporation can obtain derivative standing to pursue claims for breach of fiduciary duty against officers and directors. The same principle, however, does not always apply for…more

Breach of Duty, Creditors, Debtors, Derivative Suit, Fiduciary Duty

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Eric Reisman

My Restaurant Operations Are Limited And Rent Is Due. Now What?

As restaurants across the country are being forced to limit their services to takeout and delivery or worse, close their operations altogether, tenants are reaching out to discuss their options with April rent payments looming. …more

Business Closures, Business Continuity Plans, Business Interruption, Coronavirus/COVID-19, Restaurant Industry

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Jill Richardson

Updates Coming To NY State Petroleum Bulk Storage And Chemical Bulk Storage Rules – Public Comment Period Extended To December 6, 2021

The New York State Department of Environmental Conservation (NYSDEC) is updating its Petroleum Bulk Storage (PBS) and Chemical Bulk Storage (CBS) rules. The PBS and CBS programs regulate facilities storing small to large…more

Chemicals, Department of Environmental Conservation, Financial Responsibility Standards, Hazardous Substances, Inspections

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Cristina Riggio

Real Estate Commission Shake-Up After $1.8 Billion Verdict

A federal jury ruling just changed the game for real estate brokers and the commissions they are permitted to collect. In Sitzer v. the National Association of Realtors, the defendants (which included the National Association of…more

Anti-Competitive, Criminal Conspiracy, Grand Juries, National Association of Realtors, Price Inflation

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Robert Riva

Material Misstatements of the “Net Sum Available”

When a Section 22 Affidavit, discussed in earlier installments of this series, materially misstates a building loan’s “net sum available” to pay contractors for cost of improvement work, that can have substantial adverse…more

Borrowers, Commercial Real Estate Market, Contractors, Material Misstatements, Mechanics Lien

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Carl Rizzo

The Freeze Act Remains Alive and Well – Freezing in Place Tax Assessments For Two Future Years and Preventing Towns From Retaliating with Higher Assessments

The Tax Court confirmed in a recently decided case, Levy v. City of Long Branch, decided May 5, 2023, that ”Freeze Act” protections afforded all judgments of the Tax Court and County Tax Boards apply unless appropriate proofs…more

County Assessors, Property Owners, Property Tax, Property Valuation, Tax Assessment

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Stuart Rosen

NYC Property Owners: Neighbors Who Are Renovating Might Use Your Property For Free.

The New York City Building Code, Chapter 33, requires a developer to safeguard adjoining property during the conduct of all construction and demolition operations. Accordingly, a developer and an adjoining property owner may…more

Construction Industry, Housing Developers, Property Owners, State and Local Government, Urban Planning & Development

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Molly Rothschild

New York Will Soon Require Employers to Notify Employees in Writing About Phone, Email, and Internet Monitoring

On November 8, 2021, Governor Hochul signed a bill into law that requires private New York employers to provide written notice to employees before monitoring their telephone, email, and internet access or usage. This law goes…more

Electronic Devices, Email, Employee Monitoring, Employer Liability Issues, New Legislation

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David Rubenstein

Real Estate Leases: A Look at Retail

Coming out of Q1 2023, we have a picture painted of the challenges and opportunities facing the retail sector. What is clear is that deals are more difficult to close in the current business climate. After speaking with…more

Commercial Leases, Commercial Property Owners, Commercial Tenants, Landlords, Real Estate Development

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Alan Rubin

Thinking About Selling Your Business? Three Keys To Success.

There are numerous reasons you might consider selling your business – it could be that retirement beckons, your business has reached its growth limit under current management or financial constraints, or an exit opportunity…more

Business Plans, Business Valuations, Selling a Business

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Tara Ryan

NYC Short-Term Rentals Under New Lock & Key

Local Law 18 was adopted on January 9, 2022, to address the growing issue of illegal short-term rentals in New York City. New regulations implementing Local Law 18 recently were announced by the Mayor’s Office of Special…more

AirBnB, New York, Registration Requirement, Rental Property, Reporting Requirements

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Steven Saraisky

Form 1099-K Implementation for E-Commerce Platforms Delayed for 2023

Under a new federal law enacted in 2021 (the “American Rescue Plan” or the “New Law”), Venmo, Pay Pal, Cash App, Etsy, eBay and other e-commerce platforms are now required to send individual users income tax Form 1099-K for…more

1099s, American Rescue Plan Act of 2021, Cash Transactions, E-Commerce, Income Taxes

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Jeffrey Schechter

IRS Extends Key Tax Deadlines For 1031 Tax Deferred Exchanges And Investments In Qualified Opportunity Funds

On April 9, 2020, the IRS extended certain additional key tax deadlines affecting payments from both individuals and businesses due to the impact of the COVID-19 pandemic. Notice 2020-23 expanded upon prior IRS guidance that…more

Coronavirus/COVID-19, Filing Deadlines, IRS, Popular, Time Extensions

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Nolan Shanahan

New York Court Deems A Yellowstone Application Essential

From the start of the unprecedented closure of the New York State Courts to new, “non-essential” filings until yesterday, commercial tenants had no remedy against a landlord seeking to terminate a lease as a result of a…more

Business Closures, Commercial Leases, Commercial Tenants, Leases, NY Supreme Court

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Ram Shastri

Canadians who own US Real Estate – US Estate Tax Implications

Many Canadians own US-situs real estate, whether it is in New York, Florida, California or elsewhere in the US. It is often a surprise (or a “trap for the unwary”) to Canadian clients (or for that matter, any non-US client) to…more

Canada, Estate Tax, FIRPTA, Foreign Tax Credits, Real Estate Investments

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Tishya Signorelli

What To Do After The Loss Of A Loved One: Ten Important Things To Consider

As an estate and trust attorney who has been practicing for over 20 years, I never lose sight of the difficulty we all face when losing a loved one. Often when I meet a client, sometimes for the very first time, the initial…more

Beneficiaries, Estate Planning, Power of Attorney, Trusts, Wills

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Adam Sklar

New Jersey Tightening the Screws on its Home Improvement Contractor Licensing Requirements

On January 8, 2024, the State of New Jersey enacted a new law, mandating additional licensing requirements for home improvement and home elevation contractors, with the aim of further protecting New Jersey homeowners and…more

Apprenticeships, Construction Industry, Contractors, Homeowners, Licenses

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James Stefanick

Checking In With The LIBOR Phase-Out

When we last blogged in January about what borrowers can do to prepare for a potential cessation of the London interbank offered rate (“LIBOR”), there was a lot of uncertainty surrounding whether LIBOR would actually be…more

Banking Sector, Libor, Loan Syndication and Trading Association (LSTA), Secured Overnight Funding Rate (SOFR)

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Madeline Stein

New York Department of Labor Issues Required Notice for Expanded Whistleblower Protection Law

The New York State Department of Labor (“NYDOL”) issued a form of required notice that New York employers must post to comply with the State’s recently amended whistleblower protection law. As we previously reported, the…more

Anti-Retaliation Provisions, Healthcare Fraud, Notice Requirements, NYDOL, Protected Activity

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John Stewart

Freddie Mac Announces Further Relief For Multifamily Property Owners – Will Fannie Mae Follow Suit?

To continue to mitigate against the devastating economic effects of COVID-19, Freddie Mac provided further relief for multifamily landlords and tenants by revising its existing Multifamily COVID-19 Forbearance Program…more

CARES Act, Coronavirus/COVID-19, Fannie Mae, Freddie Mac, Relief Measures

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William Stroever

5 Things Companies Should Know About The Trademark Office’s “New” Approach to Genericness

At the end of last month, the United States Patent and Trademark Office (“USPTO”) released a guide clarifying how they were approaching the refusals of applied-for marks that could be generic. In the past, examining attorneys at…more

Generic, Generic Marks, Trademark Application, Trademark Examination Guide, Trademark Registration

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Scott Topolski

An Update on Website Accessibility Under the ADA

The decision by the United States District Court for the Southern District of Florida in Gil v. Winn-Dixie Stores, Inc. undoubtedly had a direct impact on the subsequent increase in the filing of website accessibility cases in…more

Americans with Disabilities Act (ADA), Public Accommodation, Title III, Website Accessibility, Website Owner Liability

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Emanuel Tsourounis, II

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 4 of 4)

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified laws…more

Apartments, Housing Developers, Multi-Family Development, New York, Property Tax

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Mark Tsukerman

Secondary Market Transaction Results in U.S. Court Jurisdiction Over Foreign Lender

Foreign financial institutions that trade dollar-denominated securities on the secondary market may not appreciate that they could be forced to defend an action arising from such a transaction in a U.S. court. That is what…more

Bankruptcy Court, Foreign Financial Institutions (FFI), Lenders, Personal Jurisdiction, Secondary Markets

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Rimma Tsvasman

SEC Proposes Conditional Exemption From Broker Registration Requirements For Finders Assisting Small Businesses With Capital Raising Efforts

Easing of restrictions may be on the way for smaller issuers seeking to rely on “finders” to assist with their capital raising efforts. On October 7, 2020, the U.S. Securities and Exchange Commission (the “SEC”) proposed a new…more

Accredited Investors, Broker-Dealer, Capital Raising, Exemptions, Finders

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Samuel Weiner

IRS Proposed Regs Redefine the Terms “Husband” and “Wife”

The Supreme Court has recently struck down state bans on same-sex marriage as unconstitutional in Obergefell v. Hodges, 576 US ___ (2015), after previously striking down the federal exclusion of same-sex couples from…more

Estate Tax, Income Taxes, IRS, Obergefell v. Hodges, Same-Sex Marriage

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Geoffrey Weinstein

New Jersey Is Planning To Raise $390 Million In Fiscal Year 2021 through Tax Hikes On Millionaires

New Jersey Governor Phil Murphy and State Democratic leaders announced yesterday a revised fiscal year 2021 budget that raises the State’s gross income tax rate on income for families now earning between $1 million and $5…more

Fiscal Year, Governor Murphy, Income Taxes, New Jersey, State Budgets

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Michael Weinstein

A New Arrow in the Quiver for Physicians Facing Dual Civil and Criminal Fraud Investigations

At a time when doctors face increased pressure from competition, reduced fee schedules, and greater scrutiny from insurance company Special Investigative Units (“SIUs”) and State Office of Insurance Fraud Prosecutors (“OIFPs”),…more

Admissible Evidence, Confrontation Clause, Criminal Investigations, Healthcare Fraud, Insurance Fraud

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Lori Wolf

New Tax Law – What To Consider Before December 31st

The new tax bill passed by Congress is expected to be signed into law by President Trump in the next few days. Based on the changes that will take place as of January 1, 2018, there are several items that taxpayers should…more

Alternative Minimum Tax, Corporate Taxes, Estate Tax, Income Taxes, Tax Reform

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Seokin Yeh

Barbie vs. Barbie Girl, Considerations in a Parody World

In the United States, the first amendment and the laws that follow provides robust protections to parodies. This was something Mattel, the toymakers behind Barbie, learned firsthand in Mattel, Inc. v. MCA Records,296 F.3d 894…more

Brand, Fair Use, First Amendment, Parody, Trademark Infringement

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Michael Yellin

Washington Football Franchise Calls an Audible, Tries to Score at the Supreme Court

Last week, the United States Patent and Trademark Office (“USPTO”) in Lee v. Simon Shiao Tam, asked the United States Supreme Court to reverse the decision of the United States Federal Circuit, which held that trademark law’s…more

Disparagement, First Amendment, Redskins, Trademark Registration, USPTO

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Raquel Zeitlin

Employee Retention Credit Voluntary Disclosure Program to Be Reopened: What You Need to Know

On July 26, 2024, the IRS announced that they are in the final stages of reopening the Employee Retention Credit (ERC) Voluntary Disclosure Program. The ERC is a credit that was available to certain eligible employers against…more

Coronavirus/COVID-19, Corporate Counsel, Employee Retention, Employment Tax, IRS

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