July 16, 2024

Is Your Real Estate Deal Impacted by PFAS?

Perfluorinated and Polyfluorinated Substances (PFAS) are found in many consumer products such as cookware, food packaging, cosmetics, and stain repellants, and can be released into the air, soil, and water, including drinking water sources. With the Environmental Protection Agency’s recent designation of PFAS as hazardous substances, real estate transactions (particularly brownfield redevelopment projects) may now...

July 16, 2024

Need Cash Now? Current (Non-liquidating) Distributions from Partnerships

Current distributions, also known as non-liquidating distributions, are critical to a partnership's or limited liability company’s (LLC) operations since pass-through entities use current distributions to distribute earnings and other property to the entity's partners or members in the normal course of business. From a partnership tax accounting perspective, current distributions are important since they...

July 09, 2024

The Latest on Statutory Mootness

In Transform Holdco , the United States Supreme Court resolved a split among the Circuit Courts as to whether Section 363(m) is a jurisdictional provision (i.e., depriving an appellate court of jurisdiction to hear a challenge to a sale order). Check out this expertly drafted article discussing a recent decision on whether the Supreme Court’s ruling altered the mootness requirements. Read now » Related...

July 09, 2024

Real-Time Tracker: Generative AI Rules in State and Federal Courts

Courts and judges often implement new rules in July. Use our tracker to keep up with the individual rules and standing orders implemented by certain federal and state court judges, court administrations, and bar associations governing the use of generative artificial intelligence (AI) in court filings. We review our tracker on at least a weekly basis and update accordingly, so check it out and bookmark it at the link...

July 09, 2024

Cybersecurity Incident Checklist

Significant cybersecurity incidents are becoming more and more common across the board. More sophisticated incident responses and disclosures to regulators and investors are required. Use this checklist to help your clients plan for, and respond to, cybersecurity incidents that affect them. Read now » Related Content Modern Approaches to Cybersecurity: Incident Response Video Understand how cybersecurity...

July 09, 2024

Considering Ending Your Relationship with a Vendor?

Obtain step-by-step guidance for terminating a commercial contract. Learn about the different types of termination provisions, requirements for a valid termination, and other legal and practical considerations when terminating a contract. Read now » Related Content Termination and Cancellation Rights Learn about the various ways in which a contract may be terminated. Termination Agreement Access this...

July 09, 2024

Navigating Biometrics: Strategies to Mitigate Legal Risks

To get ahead of the compliance curve, companies must take proactive measures to establish adaptable biometrics compliance programs. This newly updated practice note discusses the legal issues regarding biometric data including the major types of biometric technologies, state and local laws governing the collection and use of biometric data, recent Federal Trade Commission enforcement actions, and how to mitigate legal...

July 09, 2024

Take a Break! Watch and Learn More about DOL’s New Retirement Security Rule and Associated Prohibited Transaction Exemption Amendments

The U.S. Department of Labor (DOL) issued final rules in late April regarding its definition of fiduciary investment advice and associated prohibited transaction exemptions (PTEs). The rule and amended PTEs will protect retirement investors by requiring trusted advice providers to follow high standards of care and loyalty when making investment recommendations—particularly to participants moving their plan assets...

July 09, 2024

If You’re Drowning, our New Official Forms Charts Can Save You

Does your client’s oil and gas exploration and production operation have you drowning in paperwork? Do they have filing obligations in states you are unfamiliar with? If so, check out our newest Practical Guidance chart, Upstream Oil and Gas Official Forms Chart (OH), to review Ohio official forms and instructions promulgated by state regulators. Read now » Related Content Upstream Oil and Gas Lease...

July 09, 2024

Watch This! Second Lien Financings Video

Watch this new video providing an overview of second lien debt, which is an increasingly preferred form of junior financing, as compared with unsecured debt, subordinated mezzanine debt, or unsecured high yield debt. Watch now » Related Content Credit Agreement Resource Kit Check out this resource kit providing an overview of drafting, reviewing, and negotiating a credit agreement. This resource kit includes...

July 09, 2024

FDIC Expands Requirements for Big-Bank Resolution Plans

The Federal Deposit Insurance Corporation (FDIC) issued new rules which expand resolution-planning requirements to strengthen regulatory oversight of large banking organizations. The requirements apply to any insured depository institution with $100 billion or more in total assets. Review this article for a complete understanding of the new content and timing requirements for full resolution submissions, as well as the...

July 09, 2024

Apparent Agency Theory of Liability in Medical Malpractice Cases

Understand how healthcare facilities may be found liable for the acts of their non-employed attending physicians under a theory of apparent or ostensible agency. Learn how courts have found that a physician, although technically an independent practitioner, has rendered services on behalf of the healthcare facility and is, in effect, a de facto employee or agent of the institution for purposes of liability. Get up to...

July 09, 2024

Trying to Reason with Hurricane Season

Learn about ongoing homeowners insurance crises driven by extreme weather events and state measures aimed at stabilizing coastal property insurance markets. Read now » Related Content Positive Developments Looming in Homeowners Insurance Crisis Look back at the status of the homeowners insurance crisis and see where the market has moved since 2023. Property Insurers in California: Understanding Their...

July 09, 2024

Design Patents in the wake of LKQ Corp. v. GM Global Technology Operations LLC

The Federal Circuit’s recent decision in LKQ Corp. v. GM Global Technology Operations LLC changed the standard for finding obviousness in design patent cases throwing out the long-standing Rosen-Durling test and holding that the standard for utility patents should be used instead. Review new guidance and refresh your knowledge of design patent practice with this Design Patent Resource Kit, which includes resources...

July 09, 2024

Don’t Leave Without First Watching Our New FMLA Litigation Strategy Video

Are you interested in learning about key employer strategies for defending Family and Medical Leave Act (FMLA) litigation? Watch our new video, FMLA Litigation: Key Employer Strategies Video , by Kimberley E. Lunetta of Morgan, Lewis & Bockius LLP. Watch now » Related Content Family and Medical Leave Act (FMLA) Litigation Defense Strategies Identify strategic considerations when defending lawsuits brought...

July 09, 2024

Sitting in the Windy City? Breathe Easy with this new Illinois Short Form Stock Purchase Agreement

No matter where you actually sit, if you have a straight-forward stock purchase and sale transaction governed by Illinois law, Practical Guidance has you covered. Our short form templates are designed for simultaneous sign and close transactions and will streamline your acquisition process, ensuring a smooth and swift journey from handshake to handover. Tailored with drafting notes addressing state-specific nuances, use...

July 09, 2024

Short-term Rentals are Here for the Long Term

With the expansion of the short-term rental market, many jurisdictions are addressing concerns caused by the influx of transient occupants, including safety and liability issues. Learn about New York City’s Short-Term Rental Registration Law, also known as Local Law 18. Read now » Related Content Short-Term Rental Regulations Clause (Operator Residency Requirements) (Municipal) Check out this clause...

July 09, 2024

Are Conservation Easements Abusive Transactions? Learn more!

The IRS identifies charitable contributions of conservation easements as potentially abusive transactions. Often encouraged by promoters and armed with questionable appraisals, IRS asserts that contributions of conservation easements can result in inappropriately large deductions, and in some cases, taxpayers claiming deductions when they are not entitled to any at all. Read now » Related Content Commercial...

July 02, 2024

Emergency Procedure: After District Court Loss, FTC Still Blocks Merging Hospitals

Court action related to a recently abandoned hospital merger deal sought by Novant Health/Lake Norman and Davis Hospitals demonstrates the current FTC’s hostility to concentration-increasing mergers and the “failing firm” defense as spelled out in its revised 2023 Merger Guidelines. Time will tell if the parties’ prediction of the end of the two targeted hospitals absent the merger will become...

July 02, 2024

No Recognition for You in Chapter 15!

You represent several international corporations that are considering filing insolvency proceedings in foreign jurisdictions. As a result, you need to explore filing cases under Chapter 15. Check out this expertly-drafted article discussing a recent bankruptcy court decision on a foreign debtor's center of main interests for purposes of recognizing a foreign bankruptcy proceeding in Chapter 15. Read now »...

July 02, 2024

Settlement Summer

While judges are away, attorneys will play? If only. Clear your personal docket this summer with Jim Wagstaffe’s settlement tactics and fundamentals at the link below. Read now » Related Content Settlement Agreement Drafting Fundamentals Video Watch our video on drafting settlement agreements when your eyes need a break from heavy text. Maybe not as fun as a TikTok dive, but definitely more informative...

July 02, 2024

State Law Comparison Tool: Blue Sky Requirements for Regulation D Rule 506 Securities Offerings

Companies engaging in a Regulation D Rule 506 offering are required to file notice with the securities regulatory agency of each relevant state. Although the states accept Form D for this purpose, there are differences among them in the amount of fees due, deadlines to complete the offering, and more. Use the State Law Comparison Tool to look up state requirements applicable to your client’s upcoming offering and...

July 02, 2024

Construction Law Case Tracker (Q2 2024)

Each quarter, we collect and summarize relevant cases affecting construction practice in a case law tracker. The case summaries are excerpted from the Construction Law Digest , a monthly service that complements Construction Law . Check out the cases for the second quarter of 2024. Read now » Related Content Construction Statute of Limitations and Statute of Repose State Laws Survey Use this state law survey...

July 02, 2024

Who Can Sign the Contract?

Learn about issues related to the execution of commercial contracts, including who has authority to sign a contract on behalf of various types of business entities, the use of a power of attorney, and how to prevent oral modifications. Read now » Related Content Enforceable Contract Signature Requirements Read about signature requirements for an enforceable contract, including contracts governed by the statute...

July 02, 2024

U.S. States Collaborate to Harmonize AI Regulations with EU Standards

In the absence of federal rules for artificial intelligence (AI), U.S. states are stepping in to fill the void, much as they did with data breach and consumer privacy regulation. Once again, state lawmakers are turning to the EU for guidance, and EU officials say they are happy to help. Read now » Related Content Generative Artificial Intelligence (AI) Resource Kit Find current guidance on generative AI...