New York Law Journal | Analysis
By Emily Slater | September 17, 2023
US corporate bankruptcy filings are at the highest point since 2010, signaling a significant increase in bankruptcy activity for the first time since the legal finance industry emerged in the wake of the 2007-2008 financial crisis.
New York Law Journal | Analysis
By Gregory Plotko and Marissa Higgins | September 17, 2023
In this article, Gregory Plotko and Marissa Higgins discuss in substance the most pressing issues for both landlords and tenants in the event of a WeWork bankruptcy filing under the U.S. Bankruptcy Code.
New York Law Journal | Analysis
By Stuart I. Gordon and Alexandria E. Tomanelli | September 17, 2023
This article addresses the "Texas Two-Step" litigation strategy when it comes to bankruptcy and discusses whether this strategy of utilizing the Chapter 11 process to handle mass tort litigation claims is fair, effective and will survive the scrutiny of the courts.
New York Law Journal | Analysis
By Robert W. Dremluk | September 17, 2023
On Aug. 10, 2023, the U.S. Supreme Court stayed a decision of the U.S. Court of Appeals for the Second Circuit that held that nonconsensual third-party releases of direct claims against nondebtors are statutorily permitted under sections 105(a) and 1123(b)(6) of the Bankruptcy Code and that the court's case law allows for nonconsensual third-party claim releases in specific circumstances.
New York Law Journal | Analysis
By Juliya L. Ismailov | September 10, 2023
There has been an inflection point in the economy as a result of work life returning to a new post-pandemic normal. These changes are, in turn, impacting employees' choice of domicile for trust and estate planning purposes, among other things. In this article, Juliya L. Ismailov explores the far-flung tax consequences of post-pandemic recovery.
New York Law Journal | Analysis
By Joseph T. La Ferlita and Nicholas G. Moneta | September 10, 2023
New York's decanting statute is a tool frequently used by practitioners. In this article, Joseph T. La Ferlita and Nicholas G. Moneta suggest that a targeted technical amendment to EPTL 10-6.6 should be considered to address the potential issues the decanting statute presents.
New York Law Journal | Analysis
By Michael Calcagni and Michael J. Borger | September 10, 2023
Since New York case law generally holds that a trustee is the proper party to a suit in conflict situations, the aggrieved trust beneficiary is seemingly without options. Practitioners, however, should be familiar with two exceptions to the general rule in this context—the so-called "double-derivative" standing of a trust beneficiary and "equitable owner" approach to standing. This piece sets forth a brief basis for each theory and strategic considerations when bringing these types of matters.
New York Law Journal | Analysis
By Laura M. Brancato | September 10, 2023
The new wave of elder law litigation begs the question: Are we witnessing the unofficial beginning of ante-mortem will contest in New York? In this article, Laura M. Brancato highlights how post-mortem probate can expose the vulnerability of an estate's resources and discusses whether ante-mortem probate could act as a viable alternative.
New York Law Journal | Analysis
By Susan Rothwell and Michael C. Levy | September 10, 2023
In this article, Susan Rothwell and Michael C. Levy discuss some of the issues and trends that are driving practitioners to recommend revocable trusts more often and to a wider variety of clients.
New York Law Journal | Analysis
By Sharon L. Klein | September 10, 2023
The first year of the 2023-2024 legislative session began Jan. 4, 2023 and ended June 8, 2023. In this article, Sharon L. Klein highlights some of the most significant developments.
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