Expanded FBAR Reporting Requirements for Employee Benefits Plans [Employee Benefits and Executive Compensation Alert!]

Publication - Employee Benefits & Executive Compensation, Labor & Employment

Expanded FBAR Reporting Requirements for Employee Benefits Plans - Employee Benefits and Executive Compensation Alert! - Recent IRS pronouncements have expanded the obligation of retirement and other employee benefits plans, along with other taxpayers, to file the Report of Foreign Bank and Financial Accounts (“FBAR”). FBAR reporting requirements have been around for many years. A “U. S. person” (U. S. citizens and residents, certain foreign persons doing business in the U. S. and domestic corporations, partnerships and trusts, including employee benefits trust)

'Safe Harbor' Not Very Safe: The Bankruptcy of LandAmerica 1031 Exchange Services [Real Estate Alert]

Publication - Real Estate Litigation

'Safe Harbor' Not Very Safe: The Bankruptcy of LandAmerica 1031 Exchange Services - Real Estate Alert - Arecent decision by the United States Bankruptcy
Court for the Eastern District of Virginia, if upheld on appeal, portends great risk for some property sellers who are in the midst of tax-deferred forward exchanges under Section 1031 of the Internal Revenue Code. In Millard
Refrigerated Services v. LandAmerica 1031 Exchange Services, the court reasoned that some sale proceeds held by a qualified
intermediary pending use in acquiring exchange

Title Insurance: Washington Supreme Court Holds No Coverage for Easements Not Disclosed by Public Records or Arising After Issuance of Policy [Insurance Coverage Alert!]

Publication - Insurance Coverage

Title Insurance: Washington Supreme Court Holds No Coverage for Easements Not Disclosed by Public Records or Arising After Issuance of Policy - Insurance Coverage Alert! - In Campbell v. Ticor Title Insurance Company, 2009 WL 1709577, ----P.3d ----, (Wash No. 80999-2, June 18, 2009), the Washington Supreme Court held that a title insurer had no duty to defend a policyholder where the policy excluded
coverage for easements not disclosed by the public record or arising after issuance of the policy. The Court addressed the issue of whether a title company had a duty to defend an
insured-landowner in a suit against the landowner

Chinese Drywall Litigation [Subrogation Whitepaper]

Publication - Construction Law, Subrogation & Recovery - Real Estate & Construction

Chinese Drywall Litigation - Subrogation Whitepaper - In a prior Alert, Defective Drywall: The Not‐So‐Great Wall of China1, we discussed the reported problems with Chinese‐manufactured drywall (“Chinese drywall”). This whitepaper provides an overview of pending litigation
arising out of the issues associated with Chinese drywall. From 2004 through 2006, the housing boom and rebuilding efforts necessitated by various hurricanes led to a shortage of construction materials. As a result, U.S. builders and suppliers

Cozen O’Connor Recognized for Commitment to Women in the Profession

Press Release

Cozen O’Connor recognized for commitment to women in the profession

Cozen O’Connor Launches Capital Markets Group Multidisciplinary Team Serves Expanding, Global Capital Markets’ Client Base

Press Release

Cozen O’Connor Launches Capital Markets Group Multidisciplinary Team Serves Expanding, Global Capital Markets’ Client Base

Ready, Aim, Fire? District of Columbia v. Heller and Communities of Color [Harvard Black Letter Law Journal]

Publication

The Supreme Court’s recent decision in District of Columbia v. Heller held that a municipal ban on handguns is unconstitutional under the Second Amendment, but left open the possibility of reasonable regulations on firearms. Given the outrageous levels of firearms-related violence in many urban areas—violence that disproportionately affects communities of color—the question of what constitutes a reasonable regulation should be an issue of major concern to civil rights activists and lawyers. This article evaluates Heller in light of these issues, and argues in favor of a general presumption that local legislatures are best situated to balance the costs and benefits of firearms regulations. Moving forward, municipalities should be afforded broad discretion in enacting such regulations, consistent with the Court’s decision in Heller.

Are You Ready For The New A1A Contract Documents [Structure Magazine]

Publication - Construction Law

Are You Ready For The New A1A Contract Documents - Structure Magazine -

Indemnity and Infidelity: Advancement of Defence Costs in Actions 'By…the Corporation' [Canadian Business Law Journal]

Publication

Cozen O’Connor: On Top Of The Hot Issues In Executive Compensation [The Metropolitan Corporate Counsel]

Publication - Employee Benefits & Executive Compensation, Labor & Employment

''It’s unclear what impact ‘say on pay’ votes will have. A shareholder vote that ‘yes this is a good program’ or ‘no this is not a good program’ doesn’t provide any guidance on why the shareholders have concluded a program is or is not appropriate.''

Something to Prove: The Impact of the Burden of Proof in Property Damage Claims [Burden of Proof]

Publication

Using the 'B' Word: An Examination of the Ontario Position on the Bifurcation of Trials [The Advocates' Journal]

Publication

Denial of Tax Credit is Appealable [Tax Alert!]

Publication - Business, Tax

Denial of Tax Credit is Appealable - Tax Alert! -A panel of the Commonwealth Court held that the denial by the Department of Community and Economic Development of a tax credit claimed under the Neighborhood Assistance Act is appealable. Dijas v. Department of Community and Economic Development, No.1388 C.D. 2008 (Pa. Commw. Apr. 28, 2009). The Act authorizes the Department to grant a tax credit to a taxpayer that contributes to certain approved improvements or programs in needy communities.

Third Party Beneficiary Claims Under New York Law [The Critical Path]

Publication

New Generation Of Asbestos Trusts Encourages Double-Dipping [Daily Journal Newswire Article]

Publication - Insurance Coverage - Insurance

New Generation Of Asbestos Trusts Encourages Double-Dipping - Daily Journal Newswire Article - There’s nothing new about asbestos plaintiffs’ lawyers trying to manipulate the legal system,
playing what one Los Angeles County judge recently dubbed the “grisly game of asbestos
litigation.” A new generation of asbestos trusts, established to pay claims on behalf of bankrupt
manufacturers, now tempts plaintiffs’ lawyers to seek double recoveries by concealing their
clients’ trust recoveries from tort defendants. Solvent defendants are thereby unfairly saddled

Top Five Hazards of a Hotel's Economy-driven Employment Decisions [Hotel Business Review]

Publication - Labor & Employment

Times are tough. Employers in the hotel and hospitality industries are not immune from the impact that the weakened economy has on their personnel issues. In order to minimize the legal tsunami that can result from economy-driven employment decisions that are made, it is critical for hotel and hospitality employers to take appropriate steps to minimize potential legal exposure.

Eight For ’08: Insurance Measures in Review [LexisNexis]

Publication - Insurance Coverage - Insurance

Ken Levine looks back on 2008 and highlights eight memorable insurance topics from the year: (1) Life Settlement Agreements/Stranger-Originated Life Insurance; (2) Suitability; (3) Bad Faith Civil Liability; (4) Property and Casualty: Flood and Other Natural Disaster; (5) Health (Autism, Mental Health Parity, and Accessibility/Affordability); (6) Producer Licensing; (7) Interstate Compact; and, (8) Federal Regulatory Effort.

Patrick J. O’Connor Elected Chairman of Temple Board of Trustees

Press Release

Patrick J. O’Connor Elected Chairman of Temple Board of Trustees

IRS Answers Questions on Employer-Owned Life Insurance Contracts but Tax Traps Remain [Tax Alert!]

Publication - Business, Tax

IRS Answers Questions on Employer-Owned Life Insurance Contracts but Tax Traps Remain - Tax Alert! - The IRS recently issued guidance in connection with employer-owned life insurance contracts (“EOLI”). Notice 2009-48 clarifies a number of administrative questions. It does not eliminate the loss of tax benefits applicable to EOLI or the need to satisfy notice and consent formality in order to quality for exception from these rules. An inadvertent
failure to satisfy the notice and consent requirements could result in the loss of a significant tax exclusion.

Employment Risks to Consider in a Challenging Economy [The Legal Intelligencer]

Publication - Labor & Employment

Employment Risks to Consider in a Challenging Economy - The Legal Intelligencer - Companies operating in these challenging economic times might have to navigate a number of pressing
issues in order to weather the storm. Before making hasty employment-related decisions, companies
would be wise to analyze the legal ramifications of such decisions, especially when it comes to
reductions in force.
This article will address five legal risks that an employer should consider before reducing its workforce.