Connecticut Supreme Court Clarifies Double-Counting Rule
Oudheusden v. Oudheusden The Connecticut Supreme Court clarified this jurisdiction’s approach to double counting (or double-dipping in a recent decision). The court acknowledged that it had never been asked to determine whether the rule against double counting applied...
Tax Court Allows for ‘Slight’ Discount for Lack of Control for Majority Interests in Real Estate Holding
Companies Estate of Warne v. Commissioner In a gift and estate tax dispute, the estate and Internal Revenue Service agreed to apply discounts for lack of control and marketability to the majority interests in several real estate holding companies. The U.S. Tax Court...
Court Declines Motion to Dismiss Claim of Coverage for Loss of Income but dismisses the Claim of Coverage Under the Civil Authority Provision
Derek Scott Williams PLLC v. Cincinnati Ins. Co. Summary In this business interruption case resulting from mandatory shutdowns to control COVID-19, the court declined to grant a motion to dismiss the claim of the plaintiff as to coverage for loss of business income...
Spotlight on SPACs
Special purpose acquisition companies (SPACs) provide an alternate route for start-ups to access public markets instead of initial public offerings (IPOs). Roughly 200 SPACs debuted in 2020, drumming up close to $64 billion in funds. In 2020, there was as much capital...
Improve Your Bottom Line with Better Inventory Management
In a competitive retail environment, there's little margin for error. If your business exhausts its inventory of a key product when it's most in-demand, you'll lose out on sales to competitors. And if you err in the other direction, you could be saddled with extra...
Reap Tax Rewards from Securities Harvest This Fall
With fall coming up in a couple of months, it's time to think about "harvesting" capital gains or losses from sales of securities. In addition, unfavorable tax law changes proposed in President Biden's American Families Plan (AFP) may create an added sense of urgency...
Court Finds Valuation of Debtor Entity Must Account for COVID-19 Effect on Industry
A recent Chapter 11 bankruptcy ruling on the creditor’s election to treat its claim fully secured turned on valuation issues. On a basic level, the question was how to value a fitness club in the context of COVID-19 and the resulting economic uncertainty. The parties’...
Protecting Manufacturers from Ransomware Attacks
In recent years, there has been a surge in ransomware attacks and an even greater acceleration in the first half of 2021. Virtually every type of business is at risk, especially critical links in the manufacturing supply chain. For example, in May 2021, a high-profile...
Consider a New Approach to Meeting Your Business Real Estate Need
Where your business is located and how you use the commercial space you have can mean the difference between thriving and just limping along — or worse. That fact was brought home for many business owners during the COVID-19 pandemic when lease payments became an...
Indiana Supreme Court Rejects Blanket Rule Against Discounts in Compulsory, Closed-Market Share Buyback
Hartman v. BigInch Fabricators & Construction Holding Co., Inc In 2020, the Indiana Court of Appeals overturned the trial court and found for the selling shareholder when it decided discounts were inappropriate in any compulsory, closed-market sale. The court did...