Author Info for Levenfeld Pearlstein, LLC

Benjamin Altshul

Is a Taco a Sandwich? An Indiana Court Weighs In: How to Approach Real Estate Restrictive Covenants

For generations, people have long debated: Is a taco a sandwich? In a recent decision, a judge in Fort Wayne, Indiana weighed in and ruled that a taco is, in fact, a sandwich. While this particular case attracted attention from…more

Breach of Contract, Commercial Leases, Contract Disputes, County Planning Commissions, Injunctive Relief

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Gary Blackman

A North Carolina Court Rules in Favor of Restaurant Owners in COVID-Related Business Interruption Coverage Issue

If you have been following our posts, you know that many of our clients have been asking whether their business interruption insurance covers COVID-related losses, a critical question given the diminishing availability of…more

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

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Kristy Britsch

How the Secure Act 2.0 Affects ESOPs, 401(k)s, and Other Retirement Plans

The Secure Act 2.0 of 2022, enacted in the closing days of 2022, makes a substantial number of changes to tax-qualified retirement plans, most of which are intended to increase plan coverage and retirement savings. Although we…more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP

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James Brusslan

The Inflation Reduction Act Presents New Opportunities and Incentives for Business and Individuals

The Inflation Reduction Act, which President Biden signed on August 16, 2022, represents the country’s first major legislative measure to fight climate change. The new law allocates $369 billion in programs to promote energy…more

Carbon Capture and Sequestration, Clean Energy, Energy Projects, Energy Tax Incentives, Inflation Reduction Act (IRA)

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Kevin Burch

2024 Employment Law Checklist

Each year, LP’s Employment & Executive Compensation Practice Group is pleased to provide a short checklist of steps that all companies should consider taking to measure their readiness for the coming year. We hope you find our…more

Bereavement Leave, Employee Handbooks, Independent Contractors, NLRB, Non-Compete Agreements

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Jamie Burns

Illinois Apartment Owners File Lawsuit Disputing CDC’s Latest Eviction Moratorium

Previously, we informed you regarding the CDC’s extension of the nationwide eviction ban, which is now set to expire on October 3, 2021. The eviction moratorium expired at midnight on July 31, only to be renewed on August 3 in a…more

Centers for Disease Control and Prevention (CDC), Eviction, Illinois, Landlords, Moratorium

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Varun Chari

Is the Future of Retail Leasing in Redevelopment? 4 Considerations for Landlords to Keep in Mind When Restructuring Retail Centers

In 2024, the market is coming to terms with the reality that brick-and-mortar retail will likely not be what it was pre-pandemic. However, where uncertainty and fear regarding the future of retail was prevalent just a couple of…more

Brick-and-Mortar Stores, Commercial Leases, Commercial Tenants, Landlords, Property Owners

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Robert Connolly

M&A Insights and Outlooks Regarding Financing: A Conversation with Gary Grote of Bridgepoint Investment Banking

Below is his conversation with Gary Grote, Managing Director at Bridgepoint Investment Banking, which focuses on capital raising and M&A advisory solutions. Gary focuses on deals in the healthcare, leveraged finance, financial…more

Buyers, Commercial Loans, Coronavirus/COVID-19, EBITDA, Financial Services Industry

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Howard Dakoff

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

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Peter Donati

Key Takeaways from the FTC’s Non-Compete Ban

Tuesday, April 23, 2024, the Federal Trade Commission (FTC) voted 3-2 to implement a new rule banning non-compete agreements for most U.S. workers. Specifically, the new rule prohibits employers from entering into or enforcing…more

CEOs, COOs, Employees, Employer Liability Issues, Employment Contract

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Marc Fineman

The Crucial Role of U.S. Privacy Laws on Unregulated Generative AI

Generative Artificial Intelligence (AI) systems like ChatGPT and Google’s Bard have been widely successful and used in applications ranging from science, law, art, business, and even medicine. Generative AI has been called a…more

Algorithms, Artificial Intelligence, Bias, California Consumer Privacy Act (CCPA), Cybersecurity

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Laura Friedel

Key Takeaways from the FTC’s Non-Compete Ban

Tuesday, April 23, 2024, the Federal Trade Commission (FTC) voted 3-2 to implement a new rule banning non-compete agreements for most U.S. workers. Specifically, the new rule prohibits employers from entering into or enforcing…more

CEOs, COOs, Employees, Employer Liability Issues, Employment Contract

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Adam Garber

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with…more

Data Privacy, Disclosure Requirements, FBAR, Financial Crimes, FinCEN

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Rob Garner

A Tale of Two DSTs: Beware of Confusing 1031 DSTs with 453 DSTs

Real estate investors may be familiar with the acronym DST, which in the context of Internal Revenue Code Section 1031 like-kind exchanges, refers to a Delaware Statutory Trust. A 1031 DST is a vehicle by which a seller of real…more

Capital Gains, Installment Agreements, Internal Revenue Code (IRC), Investment Funds, Real Estate Investments

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Saman Haque

Texas Federal Court Strikes Down FTC’s Non-Compete Ban

On Tuesday, August 20, U.S. District Judge Ada Brown granted summary judgment, in favor of blocking the Federal Trade Commission’s (“FTC”) rule banning non-competes (the “Rule”). The Rule, which had been scheduled to go into…more

Administrative Procedure Act, Employment Contract, Federal Bans, Federal Trade Commission (FTC), Injunctions

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Carrie Harrington

Estate And Tax Planning In Light Of A Politically Aligned Congress

With the Georgia Senate seats both going to Democrats, everyone is wondering what will now happen with estate, gift, and income taxes under the new administration. While there are no promises, given everything else on President…more

Estate Planning, Estate Tax, Gift Tax, IRS, Tax Legislation

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Matthew Hinderman

Inflation Reduction Act – Channeling The Terminator: I’LL BE BACK

Those of you who followed the drama around the oddly-named Inflation Reduction Act of 2022 will have seen the rise and fall of efforts to change tax laws regarding “carried interests.”…more

Carried Interest, Carve Out Provisions, Future Profits, Holding Periods, Inflation Reduction Act (IRA)

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Jason Hirsh

How to Mitigate Post-Closing Risks to Facilitate Asset Distribution and Entity Dissolution

After a transaction closes, sellers often wonder: when can all proceeds be distributed and the selling entity be dissolved? This question can be complicated, particularly where there are surviving representations, warranties, or…more

Business Assets, Creditors, Delaware Limited Liability Company Act, Dissolution, Distribution Rules

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Emily Hoyt

Illinois Enacts Legislation Fundamentally Changing Taxation Of Car Leases

Governor Quinn recently signed Public Act 98-0628 into law which subjects motor vehicle leases of more than one year to Illinois Retailers’ Occupation (Sales) Tax on each lease payment…more

Automotive Industry, Finance Lease Contract, New Legislation, Sales & Use Tax

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Harold Israel

Congress Considers Another Extension to the Subchapter V $7.5 Million Debt Limit

On February 19, 2020, Congress enacted the Small Business Reorganization Act (“SBRA”) to, among other things, streamline the chapter 11 bankruptcy process for a small business by creating subchapter V of the Bankruptcy Code…more

CARES Act, Chapter 11, Commercial Bankruptcy, Coronavirus/COVID-19, Creditors

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Adam Kahn

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

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Megan Kelly

Should We ‘Second’ That? A ‘Top Ten’ Due Diligence Checklist for the Litigation Finance Secondaries Market

Given the recent growth of the secondaries market in the litigation finance space, Secondary Investors should consider how to best approach their review of potential transactions. In addition to the economics of a given…more

Assignments, Collateral, Commercial Insurance Policies, Debtors, Documentation

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Kenneth Kneubuhler

How the Secure Act 2.0 Affects ESOPs, 401(k)s, and Other Retirement Plans

The Secure Act 2.0 of 2022, enacted in the closing days of 2022, makes a substantial number of changes to tax-qualified retirement plans, most of which are intended to increase plan coverage and retirement savings. Although we…more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP

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Stuart Kohn

Because You Care: Making The Most Of Your Business Transition

As a business owner, you care about your business, your employees, and your customers. Deeply. And as a parent, grandparent, spouse or sibling, you care about your family. But when it comes time to transition your business,…more

Capital Gains, Employee Benefits, ESOP, Gift Tax, Internal Revenue Code (IRC)

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Steven Kriz

How to Build Back Generously

In this Thanksgiving season, with the ongoing tax tumult in Washington DC, we pause for a moment to consider not only how we might Build Back Better, but how we can Build Back Generously. Giving is good for the giver, and…more

Charitable Deductions, Charitable Donations, Charitable Organizations, Estate Tax, Gift Tax

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Nancy Lieberman

What to Consider When Choosing the Business Structure for a Professional Services Firm

There are various entity structures available for a professional services firm, each with pros and cons. In this article, we discuss the key features of LLCs, PLLCs, and LLPs to help you determine which is best for your firm…more

Limited Liability Company (LLC), Limited Liability Partnerships, Partnerships, Professional Liability, Professional Services Companies

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Molly Mackey

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

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Laura Marinelli

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

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Marguerite Miller

Texas, Florida, and Delaware, Oh My!: An Update On 2024 & 2025 State Data Privacy Laws

The U.S. cybersecurity and data privacy law framework continues to evolve and expand rapidly. Here, we share a summary of the eight new state data privacy and security laws that will take effect in 2024 and 2025. Businesses in…more

Best Practices, Consumer Privacy Rights, Corporate Counsel, Cybersecurity, Data Security

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Kathryn Nadro

Consumer Health Data Privacy Laws Coming March 31, 2024

Washington and Nevada join the ever-growing group of states passing laws to regulate data privacy with the Washington My Health My Data Act (“MHMDA”) and the Nevada Consumer Health Data Privacy Law (the “CHDPL”), both of which…more

Data Privacy, Data Protection, Health Insurance Portability and Accountability Act (HIPAA), Healthcare, Nevada

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Melissa Nelson

Real-Time Feedback Can Be More Productive Than a Formal Feedback Process

The mere mention of “feedback” can make many people’s palms sweat. Whether giving or receiving feedback, it often has a reputation as negative and momentous. But it doesn’t need to be. Certainly, feedback can include…more

Business Development, Law Firm Associates, Law Firm Partners, Law Practice Management, Performance Reviews

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Jack O'Connor

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the…more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Compensation

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George Pavlik

The Crucial Role of U.S. Privacy Laws on Unregulated Generative AI

Generative Artificial Intelligence (AI) systems like ChatGPT and Google’s Bard have been widely successful and used in applications ranging from science, law, art, business, and even medicine. Generative AI has been called a…more

Algorithms, Artificial Intelligence, Bias, California Consumer Privacy Act (CCPA), Cybersecurity

See all updates »

Ashley Roeser

How to Mitigate Post-Closing Risks to Facilitate Asset Distribution and Entity Dissolution

After a transaction closes, sellers often wonder: when can all proceeds be distributed and the selling entity be dissolved? This question can be complicated, particularly where there are surviving representations, warranties, or…more

Business Assets, Creditors, Delaware Limited Liability Company Act, Dissolution, Distribution Rules

See all updates »

Robert Romanoff

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with…more

Data Privacy, Disclosure Requirements, FBAR, Financial Crimes, FinCEN

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Jason Romick

2023 Insurance Brokerage M&A Survey: 5 Key Takeaways for the Industry

During the second quarter of 2023, LP’s insurance brokerage team surveyed many respected professionals in the insurance brokerage M&A industry, including M&A advisors and highly acquisitive buyers. All are experienced in the…more

Acquisitions, Buyers, Due Diligence, EBITDA, Interest Rates

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Suzanne Karbarz Rovner

Major Ruling: Illinois Supreme Court Provides Clarity and Changes Precedent on CGL Coverage for Defective Work (Positively Affecting Real Estate Developers and Community Associations)

The Illinois Supreme Court recently upended decades of Illinois caselaw regarding coverage under commercial general liability (CGL) policies, aligning Illinois with most states on the issue. On November 30, 2023, the Illinois…more

Commercial General Liability Policies, Community Associations, IL Supreme Court, Insurance Industry, Policy Exclusions

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Eileen Sethna

Why Businesses Need to Invest in Cybersecurity and How We Can Help

As businesses continue to grapple with challenges related to labor shortages, logistics, and lingering uncertainties surrounding the pandemic, Curtis Reed, Chicago Region Manager for Middle Market Banking & Specialized…more

Cyber Attacks, Cybersecurity, Data Breach, Hackers, Popular

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Russell Shapiro

“It’s Not Business, It’s Personal”: The Application of Personal Goodwill in Accounting Firm Deals

Personal goodwill refers to the reputation, relationships, and other intangible assets directly attributable to an individual professional rather than the business entity itself. It is especially relevant for professional…more

Business Assets, Buyers, C-Corporation, Cancellation Rights, Goodwill

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Suzanne Shier

Redemption Agreements and Life Insurance Proceeds: What the SCOTUS Decision in Connelly Means for Closely Held Businesses

Many closely held businesses have shareholder buy/sell redemption agreements. These agreements are critical to maintaining business continuity when a key shareholder exits the company. When the redemption agreement is triggered…more

Closely Held Businesses, Connelly v United States, Estate Planning, Estate Tax, Fair Market Value

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Kevin Slaughter

DOJ Recommends Rescheduling Cannabis – What This Could Mean for the Cannabis Industry

On April 30, 2024, the US Department of Justice recommended that cannabis be rescheduled as a Schedule III controlled substance, a classification shared by prescription drugs such as ketamine and Tylenol with codeine. Cannabis…more

Controlled Substances Act, DEA, Decriminalization of Marijuana, Department of Justice (DOJ), Dispensaries

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David Solomon

Study Results Reinforce the Benefits of ESOPs

Working with Employee-Owned S Corporations of America (ESCA), the National Center for Employee Ownership (NCEO) recently took a closer look at the impact the pandemic had on ESOPs…more

Employee Benefits, Employee Contributions, Employee-Ownership, ESOP, Retirement Plan

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George Spathis

A Picture Is Worth a Thousand Words (and Potentially Thousands of Dollars in Statutory Damages)

In the time it took you to read this far, a new website was built (per Siteefy, a new site goes live every three seconds). More than 70% of all businesses have a website, and there are more than 600 million blogs on the…more

Copyright, Copyright Infringement, Copyright Litigation, Demand Letter, Intellectual Property Protection

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Michael Tuchman

CFIUS Is Not a Flu Strain: When Commercial Real Estate Transactions May Require Additional Regulatory Review

The Committee on Foreign Investment in the US (CFIUS) is an interagency organization that identifies commercial transactions that raise US national security considerations when there is significant foreign ownership of US…more

CFIUS, Commercial Real Estate Contracts, Critical Infrastructure Sectors, Foreign Investment, Foreign Ownership

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Elizabeth Vandesteeg

Consumer Health Data Privacy Laws Coming March 31, 2024

Washington and Nevada join the ever-growing group of states passing laws to regulate data privacy with the Washington My Health My Data Act (“MHMDA”) and the Nevada Consumer Health Data Privacy Law (the “CHDPL”), both of which…more

Data Privacy, Data Protection, Health Insurance Portability and Accountability Act (HIPAA), Healthcare, Nevada

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Sheri Warsh

FINALLY…Clarity And Good News On Estate And Gift Taxes

It has often been said that the only things in life that are certain are death and taxes. Until two weeks ago, the “taxes” part of that phrase was not so certain. However, on January 2, 2013 President Obama signed the American…more

American Taxpayer Relief Act, Estate Tax, Generation-Skipping Transfer, Gift-Tax Exemption, Income Taxes

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Mitchell Weinstein

Redesigning Design Patent Validity

The U.S. Court of Appeals for the Federal Circuit sitting en banc recently overruled the long-standing test for determining obviousness of design patents in LKQ Corporation, Keystone Automotive Industries, Inc. v. GM Global…more

Design Patent, En Banc Review, Obviousness, Patent Examinations, Patent Litigation

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Steven Weiss

2023 Insurance Brokerage M&A Survey: 5 Key Takeaways for the Industry

During the second quarter of 2023, LP’s insurance brokerage team surveyed many respected professionals in the insurance brokerage M&A industry, including M&A advisors and highly acquisitive buyers. All are experienced in the…more

Acquisitions, Buyers, Due Diligence, EBITDA, Interest Rates

See all updates »

Sean Williams

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the…more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Compensation

See all updates »

Lauren Wolven

Estate And Tax Planning In Light Of A Politically Aligned Congress

With the Georgia Senate seats both going to Democrats, everyone is wondering what will now happen with estate, gift, and income taxes under the new administration. While there are no promises, given everything else on President…more

Estate Planning, Estate Tax, Gift Tax, IRS, Tax Legislation

See all updates »

Levenfeld Pearlstein, LLC

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