Derek Scott Williams PLLC v. Cincinnati Ins. Co. Summary In this business interruption case resulting from mandatory shutdowns to control COVID-19, the court declined to grant a motion to dismiss the claim of the plaintiff as to coverage for loss of business income but does dismiss the claim of coverage under the civil authority provision  Continue Reading »

Special purpose acquisition companies (SPACs) provide an alternate route for start-ups to access public markets instead of initial public offerings (IPOs). Roughly 200 SPACs debuted in 2020, drumming up close to $64 billion in funds. In 2020, there was as much capital raised through SPAC offerings as in the prior 10 years. That momentum has  Continue Reading »

The key issue in the bankruptcy proceedings involving a debtor entity that owned two hotels was the value of the hotels, which would control the amount of the main creditor’s secured and unsecured claims. The valuation date was October 2020, a point when the effect of COVID-19 was keenly felt, particularly in the hospitality industry.  Continue Reading »

Raley v. Brinkman In a Tennessee buyout dispute involving a limited liability corporation organized as an S-corporation, the parties disagreed over whether it was appropriate to tax affect in calculating the fair value of the terminated member’s interest. The trial court declined to tax effect. In contrast, after explaining the concept of fair value, the  Continue Reading »

If you have employees working from home, and you want to transition them back to the workplace as the economy picks up, you may find it’s harder than you once thought. For some employees, nervousness about remaining health risks is still a factor — especially for those who haven’t been vaccinated. Many Americans planned to  Continue Reading »

In about a month, on July 1st, the United States-Mexico-Canada Agreement (USMCA) will take effect. This new, far-reaching trade agreement updates many of the provisions of the North American Free Trade Agreement (NAFTA), which has been in place now for 26 years. While much of the conversation around the USMCA has been around its impact  Continue Reading »

It seems like almost every month there is news of yet another massive online data breach. Capital One is just the latest company to make headlines for failing to safeguard customers’ personal info. About 100 million credit card customers and applicants across the country — including individuals and small businesses — had their information compromised.  Continue Reading »

The Affordable Care Act (ACA) requires companies with at least 50 employees to provide health benefits and pay for a good portion of the coverage’s cost. But many smaller employers in Maine and across the country provide health coverage too — even if they aren’t required to do so. Some do it to attract and  Continue Reading »

Between 2010 and 2018 the median age in Maine increased from 42.7 to 44.9, this according to the U.S. Census Bureau. That 2.2 year increase is twice the national average and a reminder that our state’s population is aging. When you consider this fact alongside the recent changes in the estate tax code, it may  Continue Reading »

Galasso v. Cobleskill Stone Products In a short but very educational opinion, a New York appellate court answered a fundamental question: Under what circumstances must a valuation report be disclosed? The crucial factors were the report’s relevance and purpose.  Motion to compel disclosure The plaintiff held shares in the defendant company and sued, alleging gross  Continue Reading »