SEC PROPOSED RULE CHANGE: INCREASED COMPLIANCE OBLIGATIONS AND NEW PROHIBITIONS FOR PRIVATE FUND ADVISERS
The Securities and Exchange Commission (“SEC”) announced on February 9, 2022, proposed rules and amendments (“Proposed Rules”) under the Investment Advisers Act of 1940 that would impose significant new requirements and prohibitions on investment advisers to hedge funds, private equity funds and other Investment Company Act Section 3(c)(1) or 3(c)(7) private funds, as well as…
Read More
POST-COVID-19 PANDEMIC COMMERCIAL OFFICE SPACE LEASING
As the United States slowly emerges from the Covid-19 Pandemic (“Pandemic”), many U.S. companies are re-evaluating their post-Pandemic employee and staffing needs. The results of such re-evaluations will directly impact how many square feet of commercial office space the respective companies will require to operate of their businesses. Specifically, due to the Pandemic’s impact and…
Read More
USE OF NON-CONSENSUAL THIRD-PARTY RELEASES IN BANKRUPTCY PLANS HEADED TO THE SECOND CIRCUIT AND POSSIBLY BEYOND
The U.S. District Court for the Southern District of New York (the “District Court”) recently overturned the U.S. Bankruptcy Court for the Southern District of New York’s confirmation of drugmaker Purdue Pharma’s controversial Chapter 11 Bankruptcy Plan (the “Plan”). At issue was Purdue Pharma’s use of non-consensual releases of third parties in this case, a…
Read More
DOES YOUR TRUST HAVE A PROTECTOR?
The appointment of a trustee is one of the more important decisions that clients establishing trusts face because the trustee controls the client/creator’s trust assets. According to law, the trustee serves as the trust’s fiduciary, holding and investing the assets for the benefit of the trust beneficiaries. This means that the trustee has both a…
Read More
OWNERSHIP OF BEACH RIGHTS
Beach ownership can change with the tides, or in certain cases, with the Court. On November 12, 2021, in Deckelbaum et al. v. Carew, et al. 16MISC000014, the Massachusetts Land Court stayed its prior ruling that held a property owner’s land included the beach seaward of the home to the historic low-water tide mark.[1] The…
Read More
“LOG4SHELL” CYBER SECURITY VULNERABILITY and SECURITY BREACH DISCLOSURE AND REPORTING REQUIREMENTS
On December 11, 2021, the Cybersecurity & Infrastructure Security Agency (“CISA”) released a statement regarding a cyber security vulnerability found in Java software libraries. The CISA categorized this “Log4j” or ‘Log4shell” vulnerability as a “severe risk” that could be “widely exploited” by actors with ill-intent.[1] While this vulnerability is a risk to business software generally,…
Read More
HEALTHCARE AND BANKRUPTCY: COST SAVING ALTERNATIVES TO THE APPOINTMENT OF A PATIENT CARE OMBUDSMAN
According to industry leaders, COVID-19 related staffing shortages at medical facilities have turned into a full-blown crisis as hundreds of positions at medical facilities have remained vacant. As a result, medical facilities are denying admissions because they can’t staff enough to take on new patients. Increased government aid to keep medical facilities open and operational…
Read More
Client Update – INFRASTRUCTURE ACT RETROACTIVELY ELIMINATES EMPLOYEE RETENTION CREDIT FOR MOST EMPLOYERS
On November 15, 2021, President Biden signed the Infrastructure Investment and Jobs Act (the “IIJA”), which retroactively eliminated and repealed the employee retention credit (“ERC”) as of September 30, 2021. The credit was previously set to expire on January 1, 2022. This law effectively eliminates an employer’s ability to claim the ERC for eligible wages…
Read More
Client Update – OSHA EMERGENCY TEMPORARY STANDARD ON COVID-19
On December 17, 2021, the U.S. Court of Appeals for the Sixth Circuit vacated the stay of the Occupational Safety and Health Administration’s (OSHA) Emergency Temporary Standard (ETS) on workplace COVID-19 vaccinations and testing. The ETS was initially published in the Federal Register on November 5, 2021. However, it was immediately challenged, and the following…
Read More
Client Update – BROWNFIELD SOLAR DEVELOPMENT: A JOINT CLIENT ALERT FROM DARROWEVERETT LLP AND CAPITOL COMMUNICATIONS GROUP, LLC
Utility-scale solar developments have proliferated across the United States over the past decade, growing at a rate that few could have predicted just a short while ago. Even as the actual capacity of solar projects installed continues to beat the most optimistic forecasts, States across the country have set ambitious renewable energy targets that will…
Read More