Rimon

9th Circuit Declines to Dismiss a Marijuana-Related Chapter 11 Case, Affirms Plan Confirmation

Insight Douglas J. Schneller Douglas J. Schneller · May 09, 2019
Does a real estate company’s bankruptcy reorganization plan go up in smoke if a tenant uses the property to grow marijuana? Relying on the plain text of Bankruptcy Code Section 1129(a)(3)[1] and the particular facts and procedural history of the case, the United States Court of Appeals for the Ninth Circuit affirmed confirmation of the

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Sports Authority and Consignments: Lessons for Lenders and Vendors

Insight Douglas J. Schneller Douglas J. Schneller · May 09, 2019
A Delaware bankruptcy court (the “Court”) recently considered conflicting security interest claims of (i) a vendor that manufactured and consigned goods to a merchant that later filed for bankruptcy, and (ii) a secured lender that had a perfected lien on inventory and proceeds. The decision has important lessons relating to

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Notice 2019-07: Safe Harbor Election for Rental Real Estate Enterprises

Insight Susan F. Klein Susan F. Klein · May 02, 2019
The Internal Revenue Service recently issued a Notice providing a safe harbor election under which a rental real estate enterprise will be treated as satisfying the Section 199A deduction trade or business requirement. Click here to read the insight. Susan F. Klein focuses her practice on tax matters relating to private international

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Planning for Longer Lives Should Be a Family Project

Insight Patricia Annino Patricia Annino · April 30, 2019
Rimon’s Trust and Estate Partner, Patricia Annino, contributed her insights to a discussion on how a family prepares for sustained competence for Barrons Magazine. Sustained competence exists when an older, still-capable family patriarch or matriarch chooses not to step asidehow a family prepares for sustained competence. Sustained competence

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Visa & Mastercard Interchange Fees Merchant Class Action Update

Insight Douglas J. Schneller Douglas J. Schneller · John J. Hanley John J. Hanley · Patrick Maschio Patrick Maschio · April 24, 2019
In recent years merchants, regulators, banks and financial institutions, consumers and other parties have been keenly focused on “interchange fees” charged to merchants by issuers of credit or debit cards for any transaction in which the card is used for a purchase. Interchange fees typically consist of a percentage fee, based on the

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Blockchain and Money Transmission: A New Horizon for Token-Driven Startups?

Insight Sam Miller Sam Miller · April 09, 2019
Tokens, security tokens, cryptocurrency, or however you wish to define the digital asset which distributed ledger technology has now allowed us to pull from ether, puts issuers and exchangers of this value within the cross-hairs of both Federal and State money transmitter regulation. The question becomes then whether token-driven blockchain

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Is There any Utility Left in Utility Tokens? The SEC Speaks

Insight Sam Miller Sam Miller · April 08, 2019
Unusually expressive on this topic, the Securities and Exchange Commission released two publications April 3rd, the first its “Framework for ‘Investment Contract’ Analysis of Digital Assets”, and the second a ‘no-action letter’ in favor of TurnKey Jet, Inc. Both were hailed as milestones for the SEC in dealing

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Rimon’s Stephen Diaz Gavin Argues in DC Circuit Court of Appeals in the United Keetoowah, et al. vs. F.C.C. Case

Insight Stephen Díaz Gavin Stephen Díaz Gavin · April 03, 2019
Rimon partner, Stephen Diaz Gavin, argued on behalf of Native American tribes against the federal government in the US Court of Appeals for the DC Circuit. Stephen represented a consortium of Indian Tribes, including the Crow Creek Tribe and the Omaha Tribe of Nebraska, arguing that the court should overturn rules adopted by the Federal

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Observations on the Tax Issues for the Cannabis World After the Harborside Case

Insight Melinda Fellner Bramwit Melinda Fellner Bramwit · March 26, 2019
The Tax Court recently issued a decision that may solidify its position on certain issues in the cannabis industry and how these businesses must approach deductions. Click here to read the article. About Melinda:  Melinda Fellner Bramwit focuses her practice on tax matters including federal, state and international tax.  Ms.

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Delaware Law Updates

Insight Mark Diamond Mark Diamond · Benjamin L. Douglas Benjamin L. Douglas · Geoffrey Perusse Geoffrey Perusse · March 15, 2019

On July 23, 2018, Delaware amended the Delaware limited liability company act (the “LLC Act”). The two key amendments were to (a) permit a divisive or divisional merger and (b) create provisions related to a registered series. Divide Away! (aka Divisive Mergers) The LLC Act now permits a divisive or divisional merger. Under new Section […]

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