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August 24, 2009
Publication - Subrogation & Recovery
FAIL (UN)SAFE: METAL HALIDE LIGHTING - Metal Halide Whitepaper - Metal halide light bulbs (or “lamps” in industry parlance), are part of the “High Intensity Discharge” or “HID” family of lighting products, which also includes mercury vapor and sodium lighting. HID lighting is typically used to illuminate large commercial, industrial, or assembly occupancies, and also has outdoor applications, such as ballparks and
parking lots. Metal halide bulbs sometimes also turn up in specialty applications, such as aquarium
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August 21, 2009
Publication - Business, Tax
Recent Pennsylvania Tax Decisions - Tax Alert! - PROPERTIES CORRECTLY VALUED FOR TRANSFER TAX, SALE OF MRI AND CT SCAN SYSTEMS IS A CONSTRUCTION CONTRACT
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August 20, 2009
Publication - Labor & Employment
Pennsylvania joined a growing majority of states by enacting a ''mini COBRA'' law to provide former employees of smaller companies with an alternative to obtain health insurance. Federal COBRA provides that employers who provide their employees with health insurance coverage and have at least 20 employees are required to offer continuing health coverage if an employee would lose their health benefits due to a ''qualifying event'' (such as termination of employment). Employers of fewer than 20 employees are exempt from this requirement.
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August 19, 2009
Publication - Subrogation & Recovery - Insurance
Alive and Kicking: The Undertaker Doctrine in Alarm and Security Company Litigation - Subrogation and Recovery Alert! - When property damage results from the failure of
an alarm or security system, the subrogation
investigation is often stopped dead in its tracks
due to severe contractual limitations of liability. If the damaged party was not a party to that contract, most courts will not apply those limitations. The question remains whether
an alarm or security company owes a duty to persons with whom it did not contract? The security company will argue it owed no duty, which is the first
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August 19, 2009
Press Release - Public & Project Finance
Cozen O’Connor Ranked Among Top 10 For Public Finance Underwriter’s Counsel
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August 17, 2009
Publication - Utility & Energy
The American Clean Energy and Security Act: HR 2454 - Utility, Environmental & Energy Alert! - On June, 26, 2009, the House of Representatives passed the American Clean Energy and Security Act of 2009 (“ACESA”) by
the close margin of 219 votes in favor of the bill and 212
against it. This bill, House Bill No. 2454, is popularly called the
Waxman-Markey energy bill for its co-sponsors Rep. Henry
Waxman (D-Calif.) and Rep. Ed Markey (D- Mass.).
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August 13, 2009
Publication
Employers looking to save money and avoid layoffs by classifying workers as independent contractors are facing heightened scrutiny by federal and state work force agencies, whose own coffers are shrinking the rise of the U.S. jobless rate and the consequent decline in payroll taxes.
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August 13, 2009
Publication - Real Estate Litigation
The General Growth Court Refuses to Grant Motions to Dismiss 21 "Bankruptcy Remote" Subsidiaries from Bankruptcy - Real Estate Alert - On August 11, 2009, the Bankruptcy Court for the Southern District of New York denied five motions to dismiss a total of 21 property-level subsidiaries of General Growth Properties, Inc. (“GGP”) from what has become the largest real estate
bankruptcy in U.S. history. The much-anticipated ruling reinforces the concern of many that single purpose, “bankruptcy remote” borrowers are far from “bankruptcy proof”.
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August 10, 2009
Publication
Despite recent news that the economy may have finally bottomed out, businesses small and large continue to look for ways to reduce costs. One method has been to retain independent contractors in lieu of employees and to reclassify current employees as independent contractors.
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August 06, 2009
Publication - Business, Tax
Borrowers and Lenders Coming to Grips with the Pitfalls and Opportunities when Modifying the Terms of Distressed Debt - Tax Alert - According to First American CoreLogic, almost $165
billion of commercial real estate loans will mature in 2009. Trepp LLC, a commercial bond and real estate loan statistician based in New York City and London, reported that another $3.8 billion of commercial mortgage loans were transferred to special servicers in June, increasing the total balance of securitized commercial mortgages under the control of special servicers by 10%, to almost $40 billion. As the per square foot office rents in
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August 04, 2009
Press Release
Cozen O'Connor and MidMarket Capital Advisors host China Great Wall Asset Management Company
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August 01, 2009
Publication - Real Estate Litigation
Fight for Your Right to (the Correct) Party - Real Estate Finance -
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August 01, 2009
Press Release - Family Law
Cozen O’Connor Attorney Jennifer A. Brandt Discusses Michael Jackson Custody Case
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July 28, 2009
Publication - Business, Tax
Recent Pennsylvania Tax Decisions - Tax Alert! - EXEMPT SPLIT-OFF INCURS ROLLBACK TAX
A panel of the Commonwealth Court held that a qualifying two acre split-off of land subject to a preferential assessment incurred rollback taxes, notwithstanding a statutory provision that states that a qualifying two acre split-off will not be subject to tax. Donnelly v. York County Board of Assessment Appeals, No. 1015 C.D. 2008 (Pa. Commw. July 2, 2009). The decision appears to be incorrect, probably due at least in part to a badly worded statute.
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July 27, 2009
Publication - Insurance Coverage
Commercial Liability for Damages Caused by Drunk Drivers in Washington State: Faust v. Albertson - Insurance Coverager Alert! - In Washington state, commercial sellers of alcohol that negligently overserve an “apparently intoxicated” patron may be liable for damages caused by that patron. In Faust v. Albertson, No. 81356-6, 2009 WL 2048332 (Wash. July 16, 2009) the Washington Supreme Court held that direct or circumstantial evidence of the patron’s “postservice” appearance, including blood alcohol content and autopsy reports, was admissible to support an inference that the patron was
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July 22, 2009
Publication - Labor & Employment
Federal Minimum Wage Increase to $7.25 Per Hour Goes Into Effect July 24, 2009 - Labor and Employment Alert! - Beginning on Friday, July 24, 2009, the federal minimum wage will increase from $6.55 to $7.25 per hour. This is the last of three increases called for by the Fair Minimum Wage Act of 2007. This latest increase will raise the minimum wage in thirty states (Alabama, Alaska, Arkansas, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New York, North Carolina, North Dakota, Oklahoma,
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July 20, 2009
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)
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July 15, 2009
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
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July 09, 2009
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
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July 09, 2009
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
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