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| 06.24.09 | Selling Interests in a Charitable Remainder Trust Identified as a Transaction of Interest
CCH's Journal of Passthrough Entities
Lawrence I. Richman
Abstract: During these times of severe economic contraction, liquidity is particularly important to individuals. A charitable remainder trust (CRT) that provides for a steady income stream may have made sense based on projected returns for other assets; however, in today’s economic environment those projected returns may not exist causing individuals to (1) rethink the continued viability of their CRTs and (2) seek the sale of their CRT income interest. The recent issuance of Notice 2008-991 significantly impacts one of the planning approaches usually considered when disposing of an income interest in a CRT. Neal Gerber Eisenberg Private Wealth Services Practice Group chair Lawrence I. Richman authored an article that appears in the May-June 2009 edition of CCH's Journal of Passthrough Entities. |
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| 06.24.09 | State Income Tax Exemptions for Nonresident Partners in Investment Partnerships
CCH’s Journal of Passthrough Entities
John A. Biek
Abstract: Are nonresident partners in limited partnerships or LLCs that purchase, hold and sell investments in securities and similar intangible assets for the benefit of the partners (referred to hereinafter as “investment partnerships”) subject to income tax in the state where the partnership’s investment activity is managed? This can be an important state tax question for family partnerships, hedge funds and other investment partnerships that have passive limited partners residing throughout the country, while the management of the investment partnership’s assets takes place wherever its general partner or managing member—and perhaps the partnership’s third-party investment advisors—are located. Neal Gerber Eisenberg Tax Practice Group partner John A. Biek authored an article that appears in the May-June 2009 edition of CCH’s Journal of Passthrough Entities. |
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| 06.04.09 | Best Practices in Negotiating Union Contracts After 14 Penn Plaza
Corp! Magazine
Amy J. Zdravecky
Abstract: Employers may now be able to avoid costly litigation by having discrimination claims handled through the arbitration proceedings of their union contracts. There are many advantages to having discrimination claims arbitrated, including lower cost, faster resolution and greater control over the decision-making process. On April 1, 2009, in 14 Penn Plaza LLC v. Pyett, the U.S. Supreme Court ruled that labor unions can waive their members’ rights to litigate discrimination claims by agreeing to arbitrate those claims under a union contract. Although this case involved only age-discrimination claims, it may also support agreements to arbitrate other employment claims. Neal Gerber Eisenberg Labor & Employment Practice Group partner Amy J. Zdravecky authored an article that appears in a June 4, 2009, edition of Corp! Magazine. |
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| 06.03.09 | U.S. Supreme Court to Review Patentability of Business Methods - In re Bilski’s “Machine or Transformation” Test
Thomas E. Williams, James P. Muraff
Abstract: On June 1, 2009, the U.S. Supreme Court granted a petition for a writ of certiorari to determine whether the U.S. Court of Appeals for the Federal Circuit erred in its October 30, 2008 decision requiring a business method or “process” to meet a specific test - the “machine or transformation” test for patentability. |
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| 06.01.09 | Addison Insurance Co. v. Fay: There was continuous exposure to substantially the same general harmful conditions
The Policy (newsletter of the ISBA's Section on Insurance Law)
Patrick Frye, Christopher D. Mickus
Abstract: In Addison Insurance Co. v. Fay, the Illinois Supreme Court, contrary to established law on construing insurance policies, failed to apply unambiguous policy language to the facts before it. Neal Gerber Eisenberg Litigation Practice Group attorneys Christopher D. Mickus and Patrick Frye co-authored this article that appears in the June 2009 edition of The Policy, the newsletter of the Illinois State Bar Association's Section on Insurance Law. |
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