News & Insights

It is not unusual for a party to regret signing a contract.  The terms “buyer’s remorse” and “seller’s remorse” would not be part of the lexicon if it was.  However, with good reason, the law does not allow a party that regrets having signed a contract to escape from the contract easily, as a recent…

The American Rescue Plan Act of 2021, which was signed into law on March 11, 2021, includes relief provisions for restaurants and other similar businesses.  The Small Business Administration (SBA) will administer the Restaurant Revitalization Fund grant program. The grant amount generally equals the excess of 2019 gross revenues, over 2020 gross revenues. Subject to…

In a March 9, 2021 opinion, the Maryland Court of Appeals signaled the end of what it termed “an elaborate web of procedural history” by answering two questions certified to it by the United States District Court for the District of Maryland.  Those questions arose “in the context of a decade-long dispute between the adult…

On March 15, 2021, at long last, the Securities and Exchange Commission (“SEC”)’s proposed amendments to the private offering rules (a process which began in June 2019 via a concept release) are anticipated to go into effect. Their goal? To (i) harmonize, simplify, and improve the existing framework; (ii) promote capital formation; (iii) expand investment opportunities for entrepreneurs and emerging businesses; and (iv) promote growth for companies of all sizes. The revised framework also endeavors to expand the pool of potential investors eligible to participate in private offerings while also preserving and improving investor protections.  In addition, effective December 8, 2020, new categories of qualifying natural persons and entities were added to the definition of “accredited investor.”

(CHICAGO, January 12, 2021) The U.S. law firm of Hinshaw & Culbertson LLP is pleased to announce that Hinshaw, firm client Kimco Realty Corp. and eight other law firms have been selected as Finalists for the American Lawyer Magazine Industry Awards in the Best Provider Collaboration category. In April, 2020, Kimco teamed up with Hinshaw…

During the COVID-19 pandemic, a patchwork quilt of statutes, regulations, executive orders, and court orders have imposed on again, off again, restrictions on the filing and prosecution of foreclosure cases.  Few of these specify how applicable statutes of limitations are affected, if at all, and whether a purported extension of a statute of limitations by executive order or court order is valid is an open question.  A recent decision of Maryland’s highest court, the Court of Appeals, provides some comfort to lenders that their right to foreclose will not expire before we return to “normal.”

The Rules of Civil Procedure adopted by the West Virginia Supreme Court of Appeals are derived to a large extent from the Federal Rules of Civil Procedure.  In fact, many of the West Virginia Rules of Civil Procedure track almost verbatim to the corresponding Federal Rule.   However, a November 20, 2020 decision of the West…

Any creditor that has experienced more than a few customers or borrowers filing for bankruptcy is aware that there is a risk of being sued by a trustee to avoid transfers that the creditor received prior to the bankruptcy filing.  Bankruptcy Code Section 547 empowers a trustee to recover a transfer made in the 90…

Changes Include Beneficial Payment Plan Options, Less Financial Disclosure for Many with Balances Due, and Ability to Delay Collection Actions This has been a difficult year for many American taxpayers.  In recognition of the job losses, business closures, and other uncertainties caused by COVID-19 and the related shutdowns, the Internal Revenue Service (“IRS”) has taken…

In Maryland, all real property is assessed to reflect updated market values on a triennial basis.  The location of the property determines the year in which specific real property is re-assessed.  An appeal of a proposed triennial re-assessment must be filed with the Supervisor of Assessments within 45 days of the applicable assessment notice; however,…