Business and Securities Law Forum

The newsletter of the ISBA’s Section on Business and Securities Law

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2004 Articles

Accounting says maybe, but the tax laws say yes By Bart A. Basi January 2004 This year is the first full year in which the Financial Accounting Standards Board's (FASB) guidance on how to account for goodwill and other unidentifiable intangible assets is in effect for presentation in financial statements.
Ausman v. Arthur Andersen, LLP. By Michael J. Weicher June 2004 Whether an in-house attorney has a claim to sue its employer for retaliatory discharge when the employee is fired for insisting that certain actions taken by the employer should have been subject to internal company procedures.
Case comments By Michael J. Weicher & Justin J. Karubas April 2004 The Board of Trustees of Community College District 508 v. Coopers & Lybrand
Case comments By Michael J. Weicher January 2004 Background facts: Zebra Technologies Corporation (Zebra) is a Delaware corporation, located in Vernon Hills, Illinois, which develops and manufactures two-dimensional bar coding equipment.
Checklist for financing sources By Gene A. Petersen April 2004 From time to time, a client asks for assistance in seeking financing sources for growth, a business buyout, or other business needs.
Cosgrove Distributors, Inc. v. Haff January 2004 Issue: Whether a creditor may pierce the corporate veil and hold the shareholders liable for the debts of the corporation when the creditor failed to perceive that the debtor party was a corporation.
Does Illinois need a Business Trusts Act? By William A. Price December 2004 Illinois has been in the process of revising and modernizing the statutes that determine the rights and liabilities of insiders and outsiders in business organizations for the last 23 years.
Fifth Circuit Court of Appeals upholds the use of FLP against IRS attack By Howard Z. Gopman & Maria Motev December 2004 In David A. Kimbell, Sr. Independent Executor Under the Will Of Ruth A. Kimbell, Deceased v. U.S., the Fifth Circuit Court of Appeals meticulously examined the facts and concluded that the use of an FLP (family limited partnership) could be upheld.
From the editors October 2004 In this edition of the newsletter, we bring you an article that discusses the new filing requirements under SEC Form 8-K.
Health Savings Accounts (HSAs) under the Medicare Prescription Drug, Improvement and Modernization Act of 2003 By Brian W. Ruddell December 2004 Section 1201 of the Medicare Prescription Drug, Improvement and Modernization Act of 2003 added Section 223 to the Internal Revenue Code to permit eligible individuals to establish Health Savings Accounts (HSAs) for taxable years beginning in 2004.
Helping corporate Chapter 11 debtors return to profitability By Janice Baugh April 2004 Despite the recent turnaround in the economy, most experts are expecting the number of bankruptcies to maintain their current level in 2004.
In a pig’s eye: Vigortone AG Products, Inc. v. PM AG Products, Inc.-An integration clause in a contract will not bar a fraud claim but a “no reliance” clause will By Fiona A. Burke June 2004 Vigortone AG Products, Inc. v. PM AG Products, Inc. underscores the importance of including "no reliance" as well as integration clauses in agreements.
New SEC Form 8-K: Shortened filing deadline and expanded filing requirements By Robert J. Wild October 2004 As of August 23, 2004, Form 8-K, Current Report under the Securities Exchange Act of 1934, is required to be filed four business days after the event triggering the filing obligation. Form 8-K now has 21 items that trigger a report.
Recent legislation allows reassignment of Medicare payments: Medical groups hiring physicians as independent contractors now permissible By A. Jay Goldstein, Julie Sirlin Pleshivoy, & Robert N. Kamensky December 2004 The recent Medicare Prescription Drug, Improvement, and Modernization Act of 20031 (the "Act") does much more than establish a prescription drug benefit under the current Medicare laws and guidelines.
Thinket Ink Information Resources v. Sun Microsystems By Jonathan Linnemeyer June 2004 Whether corporations have standing to assert a discrimination claim under 42 U.S.C. §1981.