In Focus

John C. Coffee Jr.

Trumping the Constitution

By John C. Coffee Jr. |

In his Corporate Securities column, John C. Coffee Jr. analyzes the application of the Emoluments Clause to President-elect Donald J. Trump. He focuses on the specific nature of Trump's conflicts and how they expose him to foreign governmental pressure that will be largely invisible. He writes: Whether or not the Clause applies, tolerating the exposure of the President to foreign pressure is inexcusable.

Steiner-Goldstein

Condominium Loans and Lien Priority

By Jeffrey B. Steiner and Jason R. Goldstein |

In their Financing column, Jeffrey B. Steiner and Jason R. Goldstein address some unique aspects of condominium structures which require closer examination on a case-by-case basis.

Scott E. Mollen

Realty Law Digest

By Scott E. Mollen |

Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews 'Goldman v. Bracker,' where a tenant was granted additional time to view video surveillance tapes in a non-primary residence case, and 'St. Joseph Immigrant Home v. Bulong,' where the duration of the tenants' efforts to relocate was held to be not unreasonable.

Top 10 Developments, Lessons and Reminders of 2016

By Sharon L. Klein |

Sharon L. Klein of Wilmington Trust writes: From new legislation, to important regulatory guidance to instructive case law, 2016 saw some significant New York developments, lessons and reminders.

Planning for Tax Reform in 2017

By Christen Douglas and Carlyn McCaffrey |

Christen Douglas and Carlyn McCaffrey of McDermott Will & Emery discuss the proposed tax changes that are likely to have the greatest effect on high net worth individuals and suggests some planning strategies to consider.

Letting Go: Common Gift and Estate Tax Triggers

By Henry E. Klosowski and Moira A. Jabir |

Henry E. Klosowski and Moira A. Jabir of Moritt Hock & Hamroff's trusts and estates department write: Succession planning is difficult for myriad reasons but those difficulties can be minimized when a plan is instituted based on a knowledge of known audit triggers and an ability to let go.

Drafting Irrevocable Trusts for the Modern Family

By Marjorie Hornaday and Stephanie E. Heilborn |

Marjorie Hornaday and Stephanie E. Heilborn of Norton Rose Fulbright US write: In an era of co-habitation, co-parenting, and good old-fashioned divorce, the identity of a client's intended beneficiaries can be a moving target. Defining the class of beneficiaries to provide flexibility is especially important in irrevocable trusts.

Foreign Parents With U.S. Children: Trusts Play an Important Role

By Gary A. Phillips and Steven M. Saraisky |

Gary A. Phillips and Steven M. Saraisky of Cole Schotz write: The adverse tax result that follows from foreign parents leaving their assets outright to U.S. children can be avoided with advance planning. Often, foreign parents can incorporate trust planning into their own estate planning documents. If assets pass to a properly structured trust for the benefit of a child rather than outright to the child, the assets in the trust may not be subject to estate tax in the child's estate.

Philip Berkowitz

Employment Law Expectations of a Trump Administration

By Philip M. Berkowitz |

In his Employment Issues column, Philip M. Berkowitz writes: The election of Donald Trump as President can reasonably be expected to upend the current established order of things in the world of employment law. In fact, President-elect Trump's election campaign, in large measure, was founded on arguments and issues that are uniquely the province of labor and employment lawyers: immigration law, health care, and discrimination law.

Scott E. Mollen

Realty Law Digest

By Scott E. Mollen |

Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews “Garson v. Tarmy,” where an easement reserved to owners of dominant lots was held not to have created an express easement , and “Westbeth v. Gross,” where it was held that the respondent in the case could not occupy the subject premises in an individual capacity.

Steven M. Witzel and Michael A. Kleinman

Cybersecurity and the Incoming Trump Administration

By Steven M. Witzel and Michael A. Kleinman |

In a Corporate Crime column, Steven M. Witzel and Michael A. Kleinman of Fried, Frank, Harris, Shriver & Jacobson address how a Trump Administration might approach cybersecurity issues, particularly criminal prosecutions and regulatory oversight.

Warren A. Estis and Jeffrey Turkel

The 'Altman' Conundrum (Continued)

By Warren A. Estis and Jeffrey Turkel |

In their Rent Regulation column, Warren A. Estis and Jeffrey Turkel examine how the Appellate Division in 'Altman v. 285 W. Fourth, LLC' and the Appellate Term in 'Aimco 322 E. 61st Street v. Brosius' have arrived at differing interpretations of the same statutory deregulation threshold scheme.

Scott E. Mollen

Realty Law Digest

By Scott E. Mollen |

Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews 'Skanska USA Building v. Atlantic Yards B2 Owner, LLC,' where a "guarantee" posted by a high-rise's builder was found to meet Lien Law §5's "undertaking" requirement.

Terence E. Smolev and Christina Jonathan

Criminal Considerations for Fiduciaries

By By Terence E. Smolev and Christina Jonathan |

Terence E. Smolev and Christina Jonathan of Berkman Henoch Peterson Peddy & Fenchel write: Fiduciaries—both individual and corporate—run the risk of being charged with numerous crimes. Some crimes are intentionally committed, while some arise unintentionally but nevertheless create criminal liability. This article provides insight into some of the criminal charges fiduciaries may face.

Verizon Deal With Yahoo Highlights Emerging M&A Trend

By Jennifer Williams-Alvarez |

It remains to be seen whether Yahoo Inc.'s recently revealed data breaches will nix its sale to Verizon Communications. But whatever happens, M&A lawyers say the Yahoo-Verizon deal illustrates the increasing importance of addressing the risk of a data breach when negotiating an acquisition.

Ezra Dyckman and Daniel W. Stahl

New Regulations on Debt Share for 'Disguised Sales'

By Ezra Dyckman and Daniel Stahl |

In their Taxation column, Ezra Dyckman and Daniel Stahl discuss the new regulations issued by the Treasury Department October 2016 that modify a number of the partnership debt allocation rules and write how the new regulations have taken a "drastic approach, with respect to determining a partner's share of partnership liabilities for purposes of the "disguised sale" rules—and in a surprising twist cause some partnership liabilities to not be included in any partner's share."

Scott E. Mollen

Realty Law Digest

By Scott E. Mollen |

Scott E. Mollen, a partner at Herrick, Feinstein and an adjunct professor at St. John's University School of Law reviews “Metro Sixteen Hotel v. Davis,” where a tenant was permanently enjoined from filing further lawsuits without court approval, and “Partita Partners v. USA,” where a $4 million deduction based on a preservation easement was held not authorized under §170(h)(4)(B).

Corinne Ball

Filing Under Seal: The Confidential Commercial Information Exception

By Corinne Ball |

In her Distress Mergers and Acquisitions column, Corinne Ball writes: Parties concerned with protecting sensitive information should be ready to provide concrete, factual arguments in favor of filing documents under seal. Recent New York decisions, and the 'In re Motors Liquidation Company' decision in particular, provide guidance to practitioners as to possible effective strategies for protecting such sensitive information.