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Carried Interest Unexpectedly Re-emerges for CRE
July 26, 2015 --
Richard Morris is quoted in on a newly proposed rule by the Internal Revenue Service that would convert the carried interest payments that are treated as capital gains into ordinary income, an important “income equality” initiative that has gained favor. Richard comments on the significant impact this would have on the industry and provides “three scenarios that he believed will play out.”
Media Mention

The Sports Cases To Watch In The Second Half Of 2015
July 20, 2015 -- Law360
John Goldman was quoted in Law360 regarding several major court cases that sports law attorneys are monitoring this year, including the unionization of college student-athletes, antitrust battles on student-athlete compensation and New Jersey's sports betting law. Goldman predicted that legalized sports betting is on the horizon, and that professional sports leagues will eventually support the change. "It may not happen this year or next year, but it's inevitable and it's going to be a very interesting progression," Goldman said.
Media Mention

Consultants Analyze Trump's Impact on Presidential Race
July 13, 2015 -- NY1 News - Consultants Corner
Kevin Fullington appeared on the Consultants Corner segment of NY1 Inside City Hall to discuss Donald Trump’s impact on the presidential race, as well as a major speech from Hillary Clinton.
Media Mention

Companies often tread gray area with SEC disclosures
July 9, 2015 -- Pittsburgh Post-Gazette
Irwin Kishner was quoted in the Pittsburgh Post-Gazette regarding SEC disclosure guidelines for companies when they engage in related party transactions. In the article, Irwin discussed a transaction involving Mylan Pharmaceuticals and real estate developer Rodney Piatt, the drug maker’s lead independent director, and the main developer of the office park where Mylan built its new headquarters. In 2012, the director's company sold the site for $1 to a newly created entity, which then sold the land to Mylan for $2.9 million on the same day. “To me, this one is obvious. How can you possibly think that this was not a disclosable transaction?” Kishner said. “I’m not saying it’s illegal, but you’ve got to show me it’s arms length.”
Media Mention

How 'third-party partners' helped Christie's record-breaking New York auction
July 7, 2015 -- The Art Newspaper
Frank Lord was quoted in The Art Newspaper regarding a recent Christie's art auction at which external investors backed five works as third-party partners without Christie's including that information in the sale catalogue. According to New York legal code, third-party partners can bid on works that they have a stake in, but if partners do not intend to bid, the auction house does not have to reveal their involvement. However, any auctioneer or public salesroom must disclose any "direct or indirect" interest in a work other than the selling commission. “If an auction house only sells off a part of the guarantee, and the third party retains privacy, then it would seem that the auction house does have an interest, even if the third party doesn’t bid,” Lord said. “It would seem like the auction house would have to disclose that.”
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