Matrimonial attorneys are often involved with drafting Marital Settlement Agreements which include arrangements for custody and parenting time. We are also called upon to review Judgments of Divorce and Orders entered by various judges throughout the state concerning such matters.
Stealing from the minority shareholder or the corporation itself is a form of actionable oppression. Sometimes shareholders simply steal. More often than not, the bad actor will employ a number of techniques in order to covertly steal from the corporation. One widespread technique used by dishonest shareholders is the false inflation of expense accounts. Another technique is to place a relative (usually the majority shareholder’s) spouse or children on the company’s payroll at regular salaries even though those people never actually perform services for the company.
On September 7, 2010, the NJ Department of Environmental Protection (DEP) adopted amendments to its Costal Permit Program Rules, Costal Zone Management regulations and Flood Hazard Area Control Act Rules to facilitate the development of wind turbines and solar energy facilities. Some highlights of these amended and supplemented rules follow below.
The names set forth on a deed may not always reflect the interests of all parties in the real property. One such interest is a possessory one of a spouse to joint possession in property occupied as a couple’s principal matrimonial residence. This type of interest is a statutory creation. N.J.S.A. 3B:28-3 provides that during life every married individual shall be entitled to joint possession with his spouse of any real property which they occupy jointly as their principal matrimonial residence and to which neither dower nor curtesy applies.
The New Jersey minority oppression statute provides redress when “those in control have acted fraudulently or illegally, mismanaged the corporation, or abused their authority as officers or directors or have acted oppressively or unfairly toward one or more minority shareholders in their capacities as shareholders, directors, officers or employees.” N.J.S.A. 14A:12-7(c). Hence, a majority shareholder’s conflict of interest which negatively affects the minority shareholder’s rights could constitute unlawful minority oppression.
Rachel Lilienthal Stark, Shareholder in Stark & Stark’s Banking & Financial Services Group, will present a seminar as part of the Mercer County Bar Association’s Xtreme CLE program. The seminar entitled, The ABCs of Commercial Real Estate Transactions and Closings, will take place Wednesday October 27, 2010 from 8:00 – 10:00 AM at the Conference Center at Mercer County Community College in West Windsor, New Jersey.
Thomas S. Onder, Shareholder in Stark & Stark’s Bankruptcy & Creditor’s Rights Group, will present a seminar as part of the Mercer County Bar Association’s Xtreme CLE program. The seminar entitled, Bankruptcy for Non‐ Bankruptcy Attorneys, will take place Wednesday October 27, 2010 from 10:30 AM – 12:30 PM at the Conference Center at Mercer County Community College in West Windsor, New Jersey.
Common interest community associations should be aware that the New Jersey Municipal Services Act (“MSA”) provides a protection from unit owners being “double taxed” for various fees and services for common elements. Each homeowner in all New Jersey municipalities pays taxes towards services like garbage and recyclables collection, road obstruction removal, street lighting and snow removal.
Receiving notice that a unit owner has filed for Chapter 13 Bankruptcy Protection is not the end of a Homeowner’s Association, Cooperative or Condominium Association’s (collectively referred to as the “Association”) rights to receive unpaid Association fees. However, action must be taken by the Association quickly in order to preserve its rights in the bankruptcy proceeding. A proof of claim should be filed to ensure that the amount of the pre-bankruptcy debt, including all arrearages, are properly documented. If a proof of claim is not filed, the Association may lose its right to receive payment on account of its pre-bankruptcy claim.
A Pompano Beach condominium in Florida successfully sued Wells Fargo, arguing that they purposely delayed foreclosure proceedings on a condominium unit for more than a year. As a result, the condominium was awarded title to the unit free and clear of the original mortgage amount.