Connecticut has enacted a new law, Public Act 14-67 (the “Act”), that now by statute allocates the costs to maintain, repair, and restore private easements and rights-of-way among certain users of those rights. The Act took effect on October 1, 2014. According to the Act, the owner of a one- Continue Reading
Landlords and Tenants Beware: Option Contracts and the Substantial Compliance Standard
In Pack 2000, Inc. v. Cushman, 311 Conn. 622 (2014), the Connecticut Supreme Court recently applied a “substantial compliance” standard to the exercise of tenant options contained in a lease, including purchase options. According to the Supreme Court, when the exercise of an option is Continue Reading
Court Clarifies Law on Enforceability of Obligations of Non-Signatories in Private Mergers
In a fact-specific case with potential ramifications for future mergers under Delaware law, Cigna Health and Life Insurance Co., a preferred stockholder of Audax Health Solutions Inc., whose shares were extinguished by a merger that closed in February 2014, secured a declaration permitting it to Continue Reading
NJ Spill Act Contribution Rights in Jeopardy Under Proposed Bill: Points to Consider
A bill (A-3880/S-444) recently introduced in both houses of the New Jersey legislature would prevent companies and private individuals from exercising their existing contribution rights under New Jersey’s Spill Act to recover cleanup and removal costs, or any other damages, associated with a Continue Reading
What the President’s Executive Action on Immigration Means to Your Business and Employees
The President’s Immigration Accountability Executive Action holds the promise of major improvements to the ability of foreign national talent and their families to enter, work, and remain in this country while going through the seemingly endless process of obtaining lawful permanent resident status. Continue Reading
New Jersey Launches Energy Resilience Bank
New Jersey has recently launched the New Jersey Energy Resilience Bank (ERB), a public infrastructure bank focusing on energy resilience. As part of Governor Christie’s continuing efforts to minimize the impact of future major power outages and increase energy resiliency of critical Continue Reading
Private Equity Websites and General Solicitations: A Case of Overzealous Hypersensitivity?
It’s a well-settled law of physics: for every action, there’s a reaction. In some cases, there’s overreaction – generally best avoided, but a phenomenon to which many private equity funds may have fallen victim. Here, we examine ways that private funds can utilize their websites and generally market Continue Reading
Changes in Retirement Plan Limitations for 2015
Please find below a link to information about the Internal Revenue Service's recently announced retirement plan limitations effective for 2015. Continue Reading
Notice 2014-67 – Safe Harbors for ACOs and a New Management Contract Safe Harbor for Everyone
On Friday, Oct. 24, 2014, the Internal Revenue Service released interim guidance, Notice 2014-67, on whether a state or local government entity or an organization described in §501(c)(3) of the Internal Revenue Code of 1986, as amended, that benefits from tax-exempt bond financing will be considered Continue Reading
Foreign Brokers Doing Business in the United States
Foreign brokers that engage in securities transactions with U.S. investors based in the United States must be registered with the Securities and Exchange Commission (SEC). There are two major exceptions to this rule. The first exception is if the U.S. customer buys or sells securities offered by the Continue Reading