LexisNexis® Legal Newsroom
Help! Will My Ex Get Part Of My Business In Our Divorce?

In April 2011, the Supreme Judicial Court of Massachusetts issued its Adams v. Adams decision, which provides additional guidance in the arena of business valuation in divorce. Can a partnership interest be included in the divisible marital estate? Which methodology should be used to value a partnership...

LexisNexis Corporate and Commercial Insights: Goggin, In Re Cencom, and Chancellor Leo Strine, Jr.

On this episode of the LexisNexis Corporate & Commercial Insights, Steve Berstler speaks to Francis G.X. Pileggi, Member-in-Charge, Eckert Seamans Cherin & Mellott, LLC, Wilmington, DE, about the impact of the Goggin decision on annual shareholder meetings as well as fairness issues in In Re...

Tax Court: Premature FPAA on Computational Items Invalid, Jurisdiction Denied

There are few areas of the tax code as complex and potentially confusing as the rules for TEFRA partnership proceedings. Even the most steely-eyed tax pros wince at the details. Nonetheless, TEFRA is at the heart of many of the transactions that the IRS has challenged over the course last decade and...

Entrepreneur's Tip of the Week: Solo or Partners?

Many entrepreneurs start businesses on their own, and many do so with one or more partners. In some cases multiple folks develop a business idea together and so it is difficult to suggest that some should not be partners. But other times a new person comes in near, but not at, the beginning. Or a strong...

When Law Firms Dissolve: Dividing Up The Proceeds From Contingent Fee Cases

The Court of Appeals in February 2011 ordered Judge Jolly to dissolve Mitchell, Brewer, Richardson, Adams, Burge & Boughman, a law firm organized as a member-managed professional limited liability company. The dissolution was ordered per N.C. Gen. Stat. § 57C-6-02 , which authorizes judicial...

Management Liability Insurance for Law Firms and the Dewey & LeBoeuf Bankruptcy

The collapse of the venerable Dewey & LeBoeuf law firm is a cautionary tale from which observers have drawn many lessons, including cautions about the perils associated with large law firm mergers and the challenges associated with various forms of law firm partner compensation. The firm's failure...

Real Property and Like-Kind Exchange Nonrecognition Treatment

By Patricia Hughes Mills J.D. LL.M. Planning elements tied to like-kind exchange transactions are critical to nonrecognition qualifications that turn on why the parties have held their respective properties and a host of other elements. IRC Section 1031 requirements are more complex when real estate...

SEC Prevails in Tenth Circuit in Challenge to Partnership

The SEC prevailed in the Tenth Circuit Court of Appeals, securing a reversal of the district court’s order granting a motion to dismiss its complaint. The central issue in the case was if instruments which claimed to be partnership interests and expressly disclaimed being securities were in fact...

Thinking About the Dewey & LeBeouf Criminal Indictment and Law Firm Management Liability Insurance

The indictment last week of the top officials from the collapsed Dewey & LeBouef law firm is merely the latest development in the long-running sequence of events following the law firm’s demise. The indictment (and the accompanying SEC enforcement action) paints a vivid picture of the desperate...

Dewey & LeBoeuf Finance Director Says Adjustments Were Made To ‘Deceive’

NEW YORK — (Mealey’s) Francis Canellas, the former director of finance for bankrupt law firm Dewey & LeBoeuf, entered a plea agreement with the New York County district attorney today admitting that he, under the direction of firm chairman Steven H. Davis and other principals, made “inappropriate...