New Jersey Lawyer & Attorney : Stark & Stark Law Firm : New Jersey Law Blog

Vincent J. Mangini, Shareholder in Stark & Stark's Real Estate, Zoning & Land Use Group, authored the article A Primer on Green Leases: Special considerations that permeate the negotiation process for the March 1, 2010 edition of the New Jersey Law Journal.

Mr. Mangini discusses how the introduction of green building principles and the heightened interest in energy efficiency and cost savings has begun to influence the negotiation and operation of commercial leases and the build-out of tenant improvements. The article presents a summary and analysis of the issues that landlords and tenants should be aware of and what they need to build into their due diligence when dealing with a high-performance building.

You can read the full article online here. (PDF)

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Thomas B. Lewis, Chair of Stark & Stark's Employment Group, was quoted in the February 26, 2010 Registered Rep article, Some Predict Broker Protocol Overhaul. The article addresses the possibility of an overhaul to the Protocol for Broker Recruiting in the wake of increased lawsuits and constant movement of advisors as they switch firms. When the protocol was first created, it was an exclusive pact between three wirehouse firms put in place to prevent expensive litigation every time an advisor switches firms. Today, there are approximately 420 signatories to the agreement, and recently, some firms are adding letters to clarify their participation in the protocol.

Mr. Lewis states that it could become very unruly if each company began including its own letters and sets its own rules as to compliance or noncompliance with the protocol. Mr. Lewis believes that the protocol will become ineffective at that point, and something has to be done as to the clarification letters because there is no telling where it may stop.

You can read the full article online here. (PDF)

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Thomas B. Lewis, Chair of Stark & Stark's Employment Group, was quoted in the February 24, 2010 FinancialPlanning.com article, The Recruiting Wars Turn Nasty. The article discusses the Protocol for Broker Recruiting and the recent decrease in firms suing each other over poached advisors. The article goes on to discuss some of the recent more highly publicized cases which have advisors, and their attorneys, questioning whether or not the days of increased claims and counterclaims are about to return.

Mr. Lewis discusses the fact that both Goldman Sachs and Credit Suisse have not signed on to the protocol, and Mr. Lewis states that Goldman Sachs in particular takes the attitude that the clients belong to the firm, not the advisor, and therefore should not move if an advisor defects.

You can read the full article here. (PDF)

 

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Thomas B. Lewis, Chair of Stark & Stark's Employment Group, was quoted in the February 19, 2010 On Wall Street article, Goldman Drops Case Against Former Advisors. The article discusses Goldman Sachs' recent decision to drop their case against five former financial advisors and two support staff members (David Greene, Craig Savage, Andrew Thompson, Sharran Srivatsaa, John Pitt, Stephanie Dennard and Kim Tyson). The suit accused the advisors of breaching their non-solicitation agreements by moving to rival firm, Credit Suisse, and attempted to take their clients with them.

Mr. Lewis states that these types of cases are typically settled quickly and the firm who poached the advisors will often agree to pay a portion of the revenue generated by any of the accounts that the advisors’ transferred over for a period of 12 months to their prior firm.

You can read the full article online here.

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Stark & Stark Employment Group Chair, Thomas B. Lewis, was quoted in the January 20, 2010 RIABiz.com article, Broker protocol may be endangered by complexities as membership starts to explode.

Although recently, a large number of firms have joined the Protocol for Broker Recruiting, three big companies have put limits on the extent to which the no-fault poaching truce applies to them. Though the restrictions have so far been fairly minimal, the number of signatories and the addendum letters by Merrill Lynch, LPL and Ameriprise are raising questions in some lawyers’ minds about whether the Protocol may eventually become difficult to use.

Mr. Lewis states, “You have such an explosion of members, it’s become unwieldy. What’s happening now is that there are certain companies that are trying to limit their exposure under the Protocol, which makes it even more unwieldy.”

You can read the full article here. (PDF)

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In this installment of Legal Lines, Stark & Stark Divorce attorney, David Beaver, addresses various issues that commonly arise between divorced individuals during the summer months.  These tips will hopefully help keep the potential tension level between parties lower than the rising summer temperatures. Some of the most common problems include:

• Work Related Child Care Expenses
• Summer Camp Enrollment and Expense Allocation
• Vacation Parenting Time Requests
• Child Support Reductions During Summer Months

If you have any additional questions, feel free to contact the Stark & Stark Divorce Group at 1-877-678-Divorce.

Legal Lines - Episode 5 from Stark & Stark on Vimeo.

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Stark & Stark Litigation Shareholder, Scott I. Unger, authored the article, Oppressed Minority Shareholders Should Be Afforded Protection: An argument for a revision of the Limited Liability Act, for the February 1, 2010 edition of the New Jersey Law Journal.

The article discusses the fact that the minority oppression statute, which prohibits majority shareholders in closely held corporations from oppressing minority shareholders, was not specifically incorporated in the statutes governing limited liability corporations. Mr. Unger states that the business section of the New Jersey State Bar Association is considering recommending changes to statutes governing limited liability corporations, one major change would be to specifically state that minority members in an limited liability corporation may sue if they are oppressed. Mr. Unger goes on to discuss the importance of the incorporation of those protections and believes that Court's of Equity should utilize and apply the minority oppression statute to limited liability companies.
 

You can read the full article online here. (PDF)

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Gary S. Forshner, Shareholder in Stark & Stark's Real Estate Zoning & Land Use Group, was quoted in the January 13, 2010 Trenton Times article, Developer shares plans for enlarged Hamilton ShopRite, and the January 14, 2010 Trenton Times article, ShopRite decision on hold in Hamilton.

The articles discuss the recent plan to renovate the ailing Hamilton Square Shopping Center and enlarge its ShopRite supermarket from 53,000 square feet to 85,789 square feet. The shopping center, located at the corner of Route 33 and Yardville-Hamilton Square Road, currently has a vacancy rate of 30 percent or more.

The plans were introduced last week to the township zoning board and a decision will be made after the board meets for a final vote on the proposal on January 26, 2010 at the Hamilton Township Municipal Building. Mr. Forshner who represents Levin Properties, which owns the site, states, "We need to make sure that the locations along Route 33 are up-to-date, well-tended and rehabilitated. You don't want to end up with a blight situation along Route 33."

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In this installment of Legal Lines, Stark & Stark Divorce attorneys, Megan Smith and Joseph Visco, continue the discussion regarding some common misconceptions of divorce litigation. Joseph Visco primarily focuses his family law practice in Pennsylvania, and notes various distinctions between New Jersey and Pennsylvania family law. These differences are discussed by the panelists, and include:

• Emancipation Differences In New Jersey And Pennsylvania
• College Contribution Obligation Of Divorced Parents
• Underemployment and Imputed Income
• Payment of Child Support Arrearages
• Setting Up A Child Support Probation Account

If you have any additional questions, feel free to contact the Stark & Stark Divorce Group at 1-877-678-Divorce.
 

Legal Lines - Episode 4 from Stark & Stark on Vimeo.

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Stark & Stark Bankruptcy & Creditor’s Rights Group Chair, Timothy P. Duggan, authored the January 18, 2010 New Jersey Law Journal article, Bankruptcy Do’s & Don’ts for Personal Injury Attorneys: Ease your pain with a useful road map for the system.

The article discusses the recent increase in consumer bankruptcy filings and how a bankruptcy filing can impact a personal injury lawsuit.  Mr. Duggan offers several “Do’s & Don’ts” in order to assist personal injury lawyers through the United States Bankruptcy Code after their clients have been forced to file for bankruptcy.

You can read the full article online here. (PDF)

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