As you may know, the use of facial recognition technology has been growing rapidly in a wide variety of public life, such as in retail locations and entertainment venues. Accompanying
Continue Reading Biometric Data Restrictions: New York City Today, New York State Tomorrow?
As previously discussed here, Congress recently enacted the Corporate Transparency Act (the “Act”) to amend the Bank Secrecy Act by requiring businesses to file information about their beneficial ownership.
Continue Reading Updates on FinCEN’s Corporate Transparency Act Regulations
As we discussed in an article a couple of months ago, LIBOR (the London Inter-Bank Offered Rate), an interest rate benchmark that is used as a reference rate for a
Continue Reading New York Legislation Addressing Discontinuance Of Libor Awaiting Governor’s Signature
The question of which party to a contract writes the first draft is generally understood among attorneys, but can sometimes be a mystery to clients. This article will present a
Continue Reading Commercial Contracts: To Draft or Not to Draft?
Over the last several years, there has been growing concern within the financial and trade regulatory communities about the use of shell companies to evade anti-money laundering laws, economic sanctions,
Continue Reading Peeking Inside The Shell – Who Owns The Company?
As previously discussed here, LIBOR (the London Inter-Bank Offered Rate) is an interest rate benchmark that is used as a reference rate for a wide range of financial transactions.
Continue Reading The Beginning Of The End of Libor
Parties regularly enter into contracts for the purpose of achieving a desired result. Sometimes there is an absolute requirement to achieve the result; sometimes merely an agreement to try to
Continue Reading Best Efforts, Reasonable Efforts, Commercially Reasonable Efforts: Is Distinguishing Among them Worth the Effort?
LIBOR (the London Inter-bank Offered Rate) is an interest rate benchmark published by ICE Benchmark Administration Limited that is used as a reference rate for a wide range of financial
Continue Reading LIBOR Floors: Going Up
On October 2, 2020, the Small Business Administration (SBA) issued a long awaited Procedural Notice providing guidance with respect to a change of ownership of businesses that borrowed Paycheck Protection
Continue Reading US Small Business Administration Issues Guidance on Change in Ownership of PPP Loan Borrowers
Unlike corporations, which are not required by law to have stockholders agreements (no matter how advisable that may be for its owners), limited liability companies formed in New York are
Continue Reading The “Simple” Operating Agreement