Sports Authority, Inc. (“Sports Authority”) appears to likely be the next big tenant Chapter 11 bankruptcy filing. Recent reports are indicating that the sporting and apparel chain is preparing to file for Chapter 11 bankruptcy protection, as debt payments are due in 10 days, according news reports from Bloomberg Business and other outlets. Of its 450 stores,Bloomberg reports… Continue Reading
Join Rachel Stark, Esq. and Dolores Kelley, Esq. of Stark & Stark and James Bartolomei, CPA and Nicholas Demetrios, CPA of HBK CPAs and Consultants as they present the FREE educational seminar Creative Tax Strategies for Businesses on November 19, 2015 from 8:30 – 10:00am. The event will be held at Greenacres Country Club (2170 Lawrenceville Rd, Lawrencville, NJ… Continue Reading
Stark & Stark Associate Max L. Schatzow, member of the Securities Group, authored the article The Startup Life Cycle: Initial Incorporation and Capitalization, which was published in the New Jersey Law Journal on September 1, 2015. The article explains and breaks down the process of creating a startup business, from beginning to end. This is… Continue Reading
The New Jersey Uniform Commercial Code (the “UCC”) was amended, effective May 11, 2015, imposing new requirements on the filing of a financing statement to perfect a security interest in collateral within the scope of Article 9 of the UCC. The amendment provides that in order to be sufficient, a financing statement must state that… Continue Reading
Stark & Stark’s Family Law, Business and Estate Planning attorneys will present the FREE educational seminar, Keeping it in the Family: Strategies for Protecting Business Interests and Inherited Assets During a Divorce, on Tuesday, July 14, 2015. The seminar will be held at Stark & Stark’s Lawrenceville, New Jersey office from 12:00-1:00pm. Failing to plan for a divorce can have costly… Continue Reading
On March 17, 2015, the Appellate Division issued an important decision which provides guidance to New Jersey Trial Courts asked to judicially expel a member of a Limited Liability Company. IE Test, LLC v. Kenneth Carroll (App. Div. 2015) N.J.S.A. 42:2B-24(b)(3) permits the expulsion of a member of a New Jersey Limited Liability Company under… Continue Reading
Whether in time of economic growth or decline, all businesses must be mindful of potential liability. The nature and extent of liabilities has a direct effect on profits, which can hamper business growth and require cutbacks, among other things. Knowing where and how liabilities arise can prevent negative effects on profits, avoid litigation premised on… Continue Reading
On January 1, 2015, the New Jersey judiciary will expand its Complex Business Litigation Program statewide. The program has been operating in Bergen and Essex counties since 1996. It is designed to handle complex commercial and construction cases with $200,000 or more in damages. New Jersey will join 27 other states with some form of… Continue Reading
A major concern any contractor or sub-contractor has when working on a project is being paid for the materials and services that they have provided. When the project is progressing without any financial difficulties, payments are timely issued and the sub-contractor or contractor is paid for all the work that they perform.
I, along with my colleagues Rachel Lilienthal Stark and Henry E. Van Blunk, have authored a client alert regarding important changes to the law governing limited liabilities formed in New Jersey. While the law was actually passed in September of 2012, it did not affect existing limited liability companies until March 1, 2014. The law, known as the New Jersey Revised Uniform Limited Liability Company Act, or “RULLCA”, makes significant changes to many of the legal principles underlying the organization and operation of limited liability companies. Because RULLCA introduces several new “default” rules that will apply in the absence of a contrary provision in the operating agreement, your company’s governing documents should be carefully reviewed to determine the necessity or appropriateness of any amendments.