Author Info for Levenfeld Pearlstein, LLC

Benjamin Altshul

Is a Taco a Sandwich? An Indiana Court Weighs In: How to Approach Real Estate Restrictive Covenants

For generations, people have long debated: Is a taco a sandwich? In a recent decision, a judge in Fort Wayne, Indiana weighed in and ruled that a taco is, in fact, a sandwich. While this particular case attracted attention from…more

Breach of Contract, Commercial Leases, Contract Disputes, County Planning Commissions, Injunctive Relief

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Gary Blackman

A North Carolina Court Rules in Favor of Restaurant Owners in COVID-Related Business Interruption Coverage Issue

If you have been following our posts, you know that many of our clients have been asking whether their business interruption insurance covers COVID-related losses, a critical question given the diminishing availability of…more

Business Interruption, Business Losses, Coronavirus/COVID-19, Infectious Diseases, Insurance Claims

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Kristy Britsch

How the Secure Act 2.0 Affects ESOPs, 401(k)s, and Other Retirement Plans

The Secure Act 2.0 of 2022, enacted in the closing days of 2022, makes a substantial number of changes to tax-qualified retirement plans, most of which are intended to increase plan coverage and retirement savings. Although we…more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP

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James Brusslan

The Inflation Reduction Act Presents New Opportunities and Incentives for Business and Individuals

The Inflation Reduction Act, which President Biden signed on August 16, 2022, represents the country’s first major legislative measure to fight climate change. The new law allocates $369 billion in programs to promote energy…more

Carbon Capture and Sequestration, Clean Energy, Energy Projects, Energy Tax Incentives, Inflation Reduction Act (IRA)

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Kevin Burch

2024 Employment Law Checklist

Each year, LP’s Employment & Executive Compensation Practice Group is pleased to provide a short checklist of steps that all companies should consider taking to measure their readiness for the coming year. We hope you find our…more

Bereavement Leave, Employee Handbooks, Independent Contractors, NLRB, Non-Compete Agreements

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Jamie Burns

Illinois Apartment Owners File Lawsuit Disputing CDC’s Latest Eviction Moratorium

Previously, we informed you regarding the CDC’s extension of the nationwide eviction ban, which is now set to expire on October 3, 2021. The eviction moratorium expired at midnight on July 31, only to be renewed on August 3 in a…more

Centers for Disease Control and Prevention (CDC), Eviction, Illinois, Landlords, Moratorium

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Varun Chari

Speculative Suites Are On the Rise: 5 Lease Provisions Landlords Should Consider

In today’s office leasing market and with recent construction challenges, landlords are seeing a competitive market advantage in developing and offering speculative suites to attract tenants. In recent years, many companies…more

Commercial Leases, Commercial Property Owners, Commercial Tenants, Landlords, Office Space

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Robert Connolly

Independent Sponsor Update: Key Takeaways from Q1

The year is off to a busy start for us: In addition to deal work and portfolio company matters, our team attended conferences and met with various capital providers, independent sponsors, placement agents, and service providers…more

Acquisitions, Capital Raising, Corporate Governance, Due Diligence, Investment Adviser

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Sara Cooper

Speculative Suites Are On the Rise: 5 Lease Provisions Landlords Should Consider

In today’s office leasing market and with recent construction challenges, landlords are seeing a competitive market advantage in developing and offering speculative suites to attract tenants. In recent years, many companies…more

Commercial Leases, Commercial Property Owners, Commercial Tenants, Landlords, Office Space

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Howard Dakoff

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

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Peter Donati

Key Takeaways from the FTC’s Non-Compete Ban

Tuesday, April 23, 2024, the Federal Trade Commission (FTC) voted 3-2 to implement a new rule banning non-compete agreements for most U.S. workers. Specifically, the new rule prohibits employers from entering into or enforcing…more

CEOs, COOs, Employees, Employer Liability Issues, Employment Contract

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Marc Fineman

7 Things Businesses Should Consider When Using AI

Artificial intelligence (AI), machine learning algorithms, and other emerging technologies impact nearly every business and industry. The rapid deployment of Generative AI (GenAI) is reshaping how organizations do business while…more

Artificial Intelligence, Compliance, Contract Terms, Corporate Governance, Cybersecurity

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Laura Friedel

2025 Employment Law Checklist

Each year, LP’s Employment & Executive Compensation Practice Group is pleased to provide a short checklist of steps that all companies should consider taking to measure their readiness for the coming year. We hope you find our…more

Anti-Discrimination Policies, Artificial Intelligence, Automated Decision Systems (ADS), Compliance, Disclosure Requirements

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Adam Garber

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with…more

Data Privacy, Disclosure Requirements, FBAR, Financial Crimes, FinCEN

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Rob Garner

Texas Federal Court Temporarily Blocks Corporate Transparency Act Nationwide

On Tuesday, December 3, a Texas federal district court granted a nationwide preliminary injunction precluding FinCEN from enforcing the Corporate Transparency Act (CTA) and its implementing regulations. The CTA, which took…more

Beneficial Owner, Business Entities, Constitutional Challenges, Corporate Transparency Act, FinCEN

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Saman Haque

2025 Employment Law Checklist

Each year, LP’s Employment & Executive Compensation Practice Group is pleased to provide a short checklist of steps that all companies should consider taking to measure their readiness for the coming year. We hope you find our…more

Anti-Discrimination Policies, Artificial Intelligence, Automated Decision Systems (ADS), Compliance, Disclosure Requirements

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Carrie Harrington

Estate And Tax Planning In Light Of A Politically Aligned Congress

With the Georgia Senate seats both going to Democrats, everyone is wondering what will now happen with estate, gift, and income taxes under the new administration. While there are no promises, given everything else on President…more

Estate Planning, Estate Tax, Gift Tax, IRS, Tax Legislation

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Matthew Hinderman

PTET in Private Equity Accounting Deals in 2025 and Beyond?

In connection with the first Trump administration’s tax bill known as the Tax Cuts and Jobs Act (“Jobs Act”), a cap on state and local tax deductions was instituted at $10,000 (“SALT Cap”) for tax years 2018 through 2025. The…more

Capital Markets, Corporate Taxes, Internal Revenue Code (IRC), Investment, Private Equity

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Jason Hirsh

How to Mitigate Post-Closing Risks to Facilitate Asset Distribution and Entity Dissolution

After a transaction closes, sellers often wonder: when can all proceeds be distributed and the selling entity be dissolved? This question can be complicated, particularly where there are surviving representations, warranties, or…more

Business Assets, Creditors, Delaware Limited Liability Company Act, Dissolution, Distribution Rules

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Emily Hoyt

Illinois Enacts Legislation Fundamentally Changing Taxation Of Car Leases

Governor Quinn recently signed Public Act 98-0628 into law which subjects motor vehicle leases of more than one year to Illinois Retailers’ Occupation (Sales) Tax on each lease payment…more

Automotive Industry, Finance Lease Contract, New Legislation, Sales & Use Tax

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Harold Israel

Congress Considers Another Extension to the Subchapter V $7.5 Million Debt Limit

On February 19, 2020, Congress enacted the Small Business Reorganization Act (“SBRA”) to, among other things, streamline the chapter 11 bankruptcy process for a small business by creating subchapter V of the Bankruptcy Code…more

CARES Act, Chapter 11, Commercial Bankruptcy, Coronavirus/COVID-19, Creditors

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Adam Kahn

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

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Megan Kelly

Should We ‘Second’ That? A ‘Top Ten’ Due Diligence Checklist for the Litigation Finance Secondaries Market

Given the recent growth of the secondaries market in the litigation finance space, Secondary Investors should consider how to best approach their review of potential transactions. In addition to the economics of a given…more

Assignments, Collateral, Commercial Insurance Policies, Debtors, Documentation

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Kenneth Kneubuhler

How the Secure Act 2.0 Affects ESOPs, 401(k)s, and Other Retirement Plans

The Secure Act 2.0 of 2022, enacted in the closing days of 2022, makes a substantial number of changes to tax-qualified retirement plans, most of which are intended to increase plan coverage and retirement savings. Although we…more

401k, Department of Labor (DOL), Employee Benefits, Employee Retirement Income Security Act (ERISA), ESOP

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Stuart Kohn

Another Attack on Private Placement Life Insurance

The use of private placement life insurance (PPLI) by high-net-worth individuals has generated considerable controversy over the years, with proponents arguing that it is a proper use of existing laws that provide many of the…more

Accredited Investors, Estate Planning, Estate Tax, Financial Services Industry, High Net-Worth

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Steven Kriz

How to Build Back Generously

In this Thanksgiving season, with the ongoing tax tumult in Washington DC, we pause for a moment to consider not only how we might Build Back Better, but how we can Build Back Generously. Giving is good for the giver, and…more

Charitable Deductions, Charitable Donations, Charitable Organizations, Estate Tax, Gift Tax

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Nancy Lieberman

What to Consider When Choosing the Business Structure for a Professional Services Firm

There are various entity structures available for a professional services firm, each with pros and cons. In this article, we discuss the key features of LLCs, PLLCs, and LLPs to help you determine which is best for your firm…more

Limited Liability Company (LLC), Limited Liability Partnerships, Partnerships, Professional Liability, Professional Services Companies

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Molly Mackey

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

See all updates »

Laura Marinelli

Illinois Legislature Approves New Accessible Parking Requirements: What Do Illinois Community Associations Need to Know?

On May 24, 2024, the Illinois legislature approved legislation to amend the Illinois Condominium Property Act (“ICPA”) to impose certain new requirements related to parking for “a unit owner who is a person with a disability who…more

Amended Legislation, Community Associations, Condominiums, Governor Pritzker, Illinois

See all updates »

Marguerite Miller

M&A Trends in 2025: What Professional Service Firms Need to Know Before Selling

Professional services firms remain highly sought after by private equity (PE) investors. As of February 2025, the M&A landscape is showing promising signs of resurgence, with expectations of increased deal activity throughout…more

Acquisitions, Compliance, Cybersecurity, Data Privacy, Due Diligence

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Kathryn Nadro

Privacy Policy Basics

In today’s digital landscape, privacy policies have evolved from obscure legal documents into essential corporate governance tools. As data privacy regulations expand globally, organizations face increasing compliance challenges…more

California Consumer Privacy Act (CCPA), Compliance, Data Collection, Data Privacy, Data Security

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Melissa Nelson

Real-Time Feedback Can Be More Productive Than a Formal Feedback Process

The mere mention of “feedback” can make many people’s palms sweat. Whether giving or receiving feedback, it often has a reputation as negative and momentous. But it doesn’t need to be. Certainly, feedback can include…more

Business Development, Law Firm Associates, Law Firm Partners, Law Practice Management, Performance Reviews

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Jack O'Connor

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the…more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Compensation

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George Pavlik

7 Things Businesses Should Consider When Using AI

Artificial intelligence (AI), machine learning algorithms, and other emerging technologies impact nearly every business and industry. The rapid deployment of Generative AI (GenAI) is reshaping how organizations do business while…more

Artificial Intelligence, Compliance, Contract Terms, Corporate Governance, Cybersecurity

See all updates »

Ashley Roeser

How to Mitigate Post-Closing Risks to Facilitate Asset Distribution and Entity Dissolution

After a transaction closes, sellers often wonder: when can all proceeds be distributed and the selling entity be dissolved? This question can be complicated, particularly where there are surviving representations, warranties, or…more

Business Assets, Creditors, Delaware Limited Liability Company Act, Dissolution, Distribution Rules

See all updates »

Robert Romanoff

You Say Prĭvacy and I Say Prīvacy: Tips to Take Away

Increasing demand for transparency and tax rules focused on the ownership of foreign financial accounts and interests in foreign trusts and entities affect private wealth planning. There are steps you can take to comply with…more

Data Privacy, Disclosure Requirements, FBAR, Financial Crimes, FinCEN

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Jason Romick

2023 Insurance Brokerage M&A Survey: 5 Key Takeaways for the Industry

During the second quarter of 2023, LP’s insurance brokerage team surveyed many respected professionals in the insurance brokerage M&A industry, including M&A advisors and highly acquisitive buyers. All are experienced in the…more

Acquisitions, Buyers, Due Diligence, EBITDA, Interest Rates

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Suzanne Karbarz Rovner

Major Ruling: Illinois Supreme Court Provides Clarity and Changes Precedent on CGL Coverage for Defective Work (Positively Affecting Real Estate Developers and Community Associations)

The Illinois Supreme Court recently upended decades of Illinois caselaw regarding coverage under commercial general liability (CGL) policies, aligning Illinois with most states on the issue. On November 30, 2023, the Illinois…more

Commercial General Liability Policies, Community Associations, IL Supreme Court, Insurance Industry, Policy Exclusions

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Eileen Sethna

Why Businesses Need to Invest in Cybersecurity and How We Can Help

As businesses continue to grapple with challenges related to labor shortages, logistics, and lingering uncertainties surrounding the pandemic, Curtis Reed, Chicago Region Manager for Middle Market Banking & Specialized…more

Cyber Attacks, Cybersecurity, Data Breach, Hackers, Popular

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Russell Shapiro

“It’s Not Business, It’s Personal”: The Application of Personal Goodwill in Accounting Firm Deals

Personal goodwill refers to the reputation, relationships, and other intangible assets directly attributable to an individual professional rather than the business entity itself. It is especially relevant for professional…more

Business Assets, Buyers, C-Corporation, Cancellation Rights, Goodwill

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Suzanne Shier

Keeping Romance Alive in Premarital Planning

Each year, “proposal season” begins around Thanksgiving and ends on Valentine’s Day. Then the planning begins — the date, the venue, the guests — and, for many couples, a premarital agreement…more

Asset Protection, Divorce, Estate Planning, Financial Planning, Income Taxes

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Kevin Slaughter

DOJ Recommends Rescheduling Cannabis – What This Could Mean for the Cannabis Industry

On April 30, 2024, the US Department of Justice recommended that cannabis be rescheduled as a Schedule III controlled substance, a classification shared by prescription drugs such as ketamine and Tylenol with codeine. Cannabis…more

Controlled Substances Act, DEA, Decriminalization of Marijuana, Department of Justice (DOJ), Dispensaries

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David Solomon

The “Business Succession” Decision: Is an ESOP A Viable Option?

When business owners consider their business succession options, they often determine their objectives, analyze company resources and capabilities, and review strategic alternatives. Among these strategic alternatives are…more

401k, Business Succession, Corporate Culture, Defined Contribution Plans, Employee Stock Purchase Plans

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George Spathis

A Picture Is Worth a Thousand Words (and Potentially Thousands of Dollars in Statutory Damages)

In the time it took you to read this far, a new website was built (per Siteefy, a new site goes live every three seconds). More than 70% of all businesses have a website, and there are more than 600 million blogs on the…more

Copyright, Copyright Infringement, Copyright Litigation, Demand Letter, Intellectual Property Protection

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Michael Tuchman

Another Attack on Private Placement Life Insurance

The use of private placement life insurance (PPLI) by high-net-worth individuals has generated considerable controversy over the years, with proponents arguing that it is a proper use of existing laws that provide many of the…more

Accredited Investors, Estate Planning, Estate Tax, Financial Services Industry, High Net-Worth

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Elizabeth Vandesteeg

Consumer Health Data Privacy Laws Coming March 31, 2024

Washington and Nevada join the ever-growing group of states passing laws to regulate data privacy with the Washington My Health My Data Act (“MHMDA”) and the Nevada Consumer Health Data Privacy Law (the “CHDPL”), both of which…more

Data Privacy, Data Protection, Health Insurance Portability and Accountability Act (HIPAA), Healthcare, Nevada

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Sheri Warsh

FINALLY…Clarity And Good News On Estate And Gift Taxes

It has often been said that the only things in life that are certain are death and taxes. Until two weeks ago, the “taxes” part of that phrase was not so certain. However, on January 2, 2013 President Obama signed the American…more

American Taxpayer Relief Act, Estate Tax, Generation-Skipping Transfer, Gift-Tax Exemption, Income Taxes

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Mitchell Weinstein

Redesigning Design Patent Validity

The U.S. Court of Appeals for the Federal Circuit sitting en banc recently overruled the long-standing test for determining obviousness of design patents in LKQ Corporation, Keystone Automotive Industries, Inc. v. GM Global…more

Design Patent, En Banc Review, Obviousness, Patent Examinations, Patent Litigation

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Steven Weiss

2023 Insurance Brokerage M&A Survey: 5 Key Takeaways for the Industry

During the second quarter of 2023, LP’s insurance brokerage team surveyed many respected professionals in the insurance brokerage M&A industry, including M&A advisors and highly acquisitive buyers. All are experienced in the…more

Acquisitions, Buyers, Due Diligence, EBITDA, Interest Rates

See all updates »

Evan Wild

M&A Trends in 2025: What Professional Service Firms Need to Know Before Selling

Professional services firms remain highly sought after by private equity (PE) investors. As of February 2025, the M&A landscape is showing promising signs of resurgence, with expectations of increased deal activity throughout…more

Acquisitions, Compliance, Cybersecurity, Data Privacy, Due Diligence

See all updates »

Sean Williams

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the…more

Bankruptcy Code, Bankruptcy Court, Bankruptcy Trustees, Chapter 11, Compensation

See all updates »

Lauren Wolven

Estate And Tax Planning In Light Of A Politically Aligned Congress

With the Georgia Senate seats both going to Democrats, everyone is wondering what will now happen with estate, gift, and income taxes under the new administration. While there are no promises, given everything else on President…more

Estate Planning, Estate Tax, Gift Tax, IRS, Tax Legislation

See all updates »

Levenfeld Pearlstein, LLC

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