Blogs

Business and Financial Services

Effectiveness of Arbitration Agreements

Courts generally show a strong willingness to enforce arbitration agreements, even when one side argues that the underlying contract should not be enforced. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, James V. Irving explains that the federal case A&G Coal Corp. v. Integrity Coal Sales, Inc. involved plaintiffs who argued that an arbitration clause should not apply because the underlying contract never became effective. The court rejected that argument…

May 1, 2009

Business and Financial Services

Piercing the Corporate Veil

Corporations and LLCs generally protect owners from personal liability, but courts may disregard that protection when a business is operated as the owner’s alter ego. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, James V. Irving explains that courts may pierce the corporate veil when an entity is used to evade debts, commit fraud, gain an unfair advantage, or operate in a way that makes the individual and the company effectively indistinguishable. The…

May 1, 2009

Business and Financial Services

Family Limited Partnership and Family Limited Liability Company Valuation Discount Planning

Family limited partnerships and family limited liability companies can provide important estate planning and wealth transfer benefits, but only if they are operated carefully and consistently. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, Jonathan C. Kinney explains that the IRS had become increasingly aggressive in challenging valuation discounts used in connection with FLPs and FLCs. The article notes that the IRS often questioned whether a gift was…

January 1, 2009