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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Why is my Property Tax Appeal taking so long?

Many commercial property owners are turning to their attorneys to prosecute the filing of a tax appeal in order to cut costs. By and large, these appeals are conducted on a contingent fee basis. That is to say the attorney will not earn a fee except as a percentage of savings actually achieved upon resolution […]

Author: Scarinci Hollenbeck, LLC

June 22, 2013

Is Cross-Border Swaps Regulation at a Standstill?

The Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have both proposed rules to govern cross-border security-based swap activities, as mandated under Title VII of the Dodd-Frank Act. However, implementation is unlikely any time soon. Security-based swaps, a popular derivative, pose problems for regulators because the market involves counterparties located in different […]

Author: Kenneth C. Oh

June 21, 2013

IRS to Hammer Down on Bitcoins, a Virtual Currency

The Internal Revenue Service is increasing its focus on tax law compliance, as evidenced by the recent crackdown on offshore tax evasion and international financial-account sharing agreements with popular tax havens. However, the IRS is zeroing in on a new potential gateway for tax evasion that may affect taxpayers of all income levels: virtual currency. […]

Author: Scarinci Hollenbeck, LLC

June 21, 2013

Exide Technologies Officially Files for Bankruptcy Law Protection

After weeks of speculation, battery manufacturer Exide Technologies has officially sought bankruptcy law protection under Chapter 11 of the U.S. Bankruptcy Code. Despite its recent attempts to cut costs, the company has been unable to strengthen its finances in light of rising costs for materials and the state’s shutdown of one of its key facilities in Vernon, […]

Author: Joel R. Glucksman

June 21, 2013

Will NCAA Likeness Lawsuit Change College Sports?

Former UCLA basketball player Ed O’Bannon is going after the National Collegiate Athletic Association and several companies that license college sports merchandise and video games in a likeness lawsuit for using players’ likenesses without permission or compensation. O’Bannon and other athletes named in the suit argue that it’s unfair for them to sign away the rights to […]

Author: Scarinci Hollenbeck, LLC

June 21, 2013

Exide Technologies Considering Bankruptcy Amid Regulatory Scrutiny

Car- and battery-maker Exide Technologies is considering bankruptcy protection under Chapter 11 this summer, sources familiar with the company told the Wall Street Journal. The company is due to make a $56 million payment in September, but has faced shrinking profitability as a result of higher-than-expected restructuring expenses, reduced demand in a number of markets, and higher […]

Author: Joel R. Glucksman

June 20, 2013

Chapter 11

NJ Court Rules Building Owner Not Responsible for Safety of Water Supply

New Jersey’s Appellate Division recently ruled that a building owner could not be held liable when an employee contracted Legionnaires’ disease from the building’s water supply. The case, Vellucci v. Allstate Insurance Company, offers an interesting discussion of the legal responsibilities of a New Jersey commercial property owner. The Facts of the Case Albert D. […]

Author: Robert E. Levy

June 19, 2013

Lawsuit Would Make 'Happy Birthday' Song Public Domain

The “Happy Birthday” song is central in movies, music, plays, radio shows, and everyday life. Unbeknownst to many, however, the rights to the song actually belong to Warner/Chappell Music Inc., the publishing arm of Warner Music Group, and the group maintains sole rights to the song’s reproduction, distribution, and public performances. A new lawsuit brought against the […]

Author: Scarinci Hollenbeck, LLC

June 19, 2013

Entertainment and Sports

Domestic Asset Protection – Why State Legislation Is Not Set In Stone

The State of Nevada spent considerable time and effort in crafting its asset protection and dynasty trust statute. Nevada worked hard to attract trust business to the state in an effort to broaden its economic base and decrease its reliance upon tourism and mining. Yet, one amendment to a piece of legislation nearly upset years […]

Author: James F. McDonough

June 19, 2013

IRS Loses Court Case Against Yankees Co-Owner Hal Steinbrenner

A court case against Yankees co-owner and managing partner Hal Steinbrenner ruled that he will not be required to repay the Internal Revenue Service $670,000 in what the agency called an “erroneous” tax refund that it mistakenly extended to Steinbrenner and his wife in 2009, a federal court ruled. The issues go back to IRS audits […]

Author: James F. McDonough

June 18, 2013

Jefferson County, Alabama and Creditors Reach Deal to Exit Municipal Bankruptcy

Jefferson County, Alabama, has announced the details of an agreement it reached with creditors that will enable the distressed county to formally exit municipal bankruptcy. The county has agreed to refinance its existing debts by June 30 in an effort to officially emerge from bankruptcy law protection by November 2013. According to the terms of […]

Author: Joel R. Glucksman

June 18, 2013

Small Businesses May Be Subject to IRS Robo-Audits

The Internal Revenue Service is leaning more heavily on technology to help detect potential tax law violations, and this trend is expected to continue as it faces limited manpower to execute compliance protocols and audits. Historically, the IRS has used so-called “robo-audits” to monitor inconsistencies in the tax returns of middle-income Americans. However, a recent […]

Author: Scarinci Hollenbeck, LLC

June 17, 2013

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