Firm Insights

The Securities and Exchange Commission has cleared Apple Inc. of any potential tax law violations after months of examining the company’s complex and sometimes controversial financial and tax practices. The Securities and Exchange Commission has cleared Apple Inc. of any potential tax law violations after months of examining the company’s complex and sometimes controversial financial […]

In recent remarks before the Council of Institutional Investors, Securities and Exchange Commission (SEC) Chair Mary Jo White offered additional details about the agency’s new settlement policy. The speech, entitled “Deploying the Full Enforcement Arsenal,” also detailed the SEC’s priorities in creating a tougher enforcement program. To start, White highlighted the following as key enforcement […]

Puerto Rico’s troubling debt position threatens its economic viability, and without Chapter 9 bankruptcy protection as an option, the unincorporated U.S. territory is facing a critical financial situation. The commonwealth’s economy heavily depends on tourism, which has plummeted recently due to declines in Americans’ discretionary spending. In response, the island has been operating largely on […]

An Ohio man appeared in court seeking to reverse the 1994 declaration of his death. The declaration of death (“Declaration”) resulted from his disappearance from his home eight years earlier. Ohio law prevents a court from reversing such a Declaration after three years from its entry. The Ohio man is seeking to reclaim his social […]

Private Swiss bank Frey & Co AG announced that it’s closing its doors due to “unsustainable costs” stemming from the country’s dispute with the U.S. over alleged tax evasion. Frey will be the second bank – following Wegelin and Co. – to close after allegations of helping Americans evade U.S. tax law. U.S. authorities have launched […]

Have you ever read a glowing online review of a competing business and wondered how they did it? There is a good chance the post is fake, according to New York Attorney General Eric Schneiderman. The NY Attorney General recently announced the results of a yearlong undercover operation targeting the manipulation of consumer-review websites like […]

Following the announcement of several international tax agreements and a higher level of scrutiny over corporate tax strategies, Ireland recently announced its plans to close a tax loophole that a number of companies – most notably Apple, Inc. – have used to significantly lower their tax liabilities. Ireland’s Department of Finance released a new report […]

Biotech firm Savient Pharmaceuticals has sought protection under Chapter 11 of the bankruptcy law, due to years of disappointing sales for its primary product Krystexxa. Biotech firm Savient Pharmaceuticals has sought protection under Chapter 11 of the bankruptcy law, due to years of disappointing sales for its primary product Krystexxa. The Bridgewater, New Jersey-based company filed for […]

Ace Arts has brought a $100 million copyright lawsuit against Sony/ATV Music Publishing and Apple Corps Ltd. for allegedly sabotaging a Beatles documentary film that the company was making. The company, which is based in the U.S., was producing a Beatles documentary entitled, “The Beatles: The Lost Concert,” using footage from the group’s first concert […]

Mobile healthcare apps are big business. An estimated 500 million smartphone users worldwide will be using them by 2015. In response to the growing industry, the U.S. Food and Drug Administration (FDA) recently released its plan to regulate medical healthcare apps. The new rules will not impact tools that allow you to look up the […]

George Washington Carver Memorial Gardens Inc., which closed its doors in September, has sought bankruptcy protection under Chapter 7 of the bankruptcy law. Although the company, which owns a cemetery in the gardens, has been struggling financially for several years, residents with loved ones buried in the gardens and those who have purchased plots are concerned […]

An estate may, in certain circumstances, elect to pay estate tax in a series of payments over a number of years. This election is available to estates in which assets are used in an active trade or business comprise more than thirty-five percent (35%) of the estate. Payment of estate tax can be extended over […]