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Daily Business Review

Clearing Up the Confusion Over Bitcoin and Other Cryptocurrencies

While there is a steady rise in awareness and interest in Bitcoin and other cryptocurrencies, there is still a lot of misinformation regarding this new form of payment, and much of the confusion is coming from some very influential individuals.
5 minute read

Delaware Business Court Insider

Receiver's Disallowance of Creditor's Claim Subject to De Novo Review

What should be the standard of review when the Court of Chancery considers an appeal from a receiver's disallowance of a claim pursuant to section 296(b) of the Delaware General Corporation Law? In B.E. Capital Management Fund LP v. Fund.com Inc., C.A. No. 12843-VCL (Del. Ch. Oct. 4, 2017), Vice Chancellor Laster held that a receiver's determination is subject to de novo review and the court has discretion to go beyond the record presented to the receiver by conducting an evidentiary hearing.
13 minute read

Delaware Business Court Insider

Are Directors Liable if Their Company Violates the Law? The Practical Implications of 'Kandell'

In a case involving allegations of unusually egregious conduct by directors of a Delaware corporation, the Delaware Court of Chancery in Kandell v. Niv, C.A. No. 11812-VCG (Del. Ch. Sept. 29) (Glasscock, V.C.) found that directors of FXCM, Inc. faced a substantial likelihood of liability for demand futility purposes on a claim alleging that they knowingly allowed FXCM to engage in an illegal business practice, despite the lack of allegations suggesting that the directors were ever explicitly notified that the practice was illegal.
13 minute read

Daily Business Review

Scott Looks to Replenish Enterprise Florida Before Awarding Grants

Gov. Rick Scott told the Enterprise Florida board of directors of the need to ensure lawmakers maintain the new “Florida Job Growth Grant Fund,” which has attracted 209 applications from governments and other groups across the state since opening in July.
7 minute read

The American Lawyer

Just in Time for the Holidays, Kirkland Recruits Another Rainmaker

The head of Debevoise & Plimpton's investment management and funds group and the deputy chair of its corporate department have left the firm to join Kirkland & Ellis in New York.
22 minute read

The Legal Intelligencer

Planning for Retirement Plan Distributions—Part II

In a prior article, I discussed options for retirement plan and IRA distributions. This is a complex subject, one that requires the coordination of financial and tax planning. While some people will outlive their retirement accounts, many will not, leaving a balance to be distributed to beneficiaries.
11 minute read

Daily Business Review

Beacon Hill Property Group Closes $8.6 Million Sale of Coral Gables Apartments

The buyer plans to renovate the apartments and increase rent by about 20 to 30 percent per unit.
6 minute read

Daily Business Review

Law Firm Guides $59 Million West Miami Apartment Sale

The two lawyers closed on the $59 million transaction even before any of the units were rented.
9 minute read

Daily Business Review

ARA Newmark Closes on $41.5 Million Sale of Coral Springs Multifamily Property

Atrium Square isn't your typical multifamily community since it's primarily townhouses with attached garages.
6 minute read

Daily Report Online

Invest Atlanta Sues City Ethics Board Over Decision Barring 'Free' Stadium Tickets

Atlanta's development arm, Invest Atlanta, has sued the city Board of Ethics over its refusal to reverse a ruling declaring that tickets to events at the soon-to-open Mercedes-Benz Stadium are an illegal gratuity barred by city ordinance.
8 minute read

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