Effective July 8, 2022, the IRS issued Revenue Procedure 2022-32 to supersede Revenue Procedure 2017-34 and now allow for a late estate tax exemption portability election to be made up to five (5) years from a deceased spouse’s death. Previously,
Cole Schotz P.C
Cole Schotz, an Am Law 200 firm, provides legal services throughout the United States from its offices in New Jersey, New York, Delaware, Maryland, Texas, and Florida. We represent hundreds of businesses, large and small, and select individuals. Many have been clients for decades.
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New Chapter 11 Filing – OSG Group Holdings, Inc.
By Cole Schotz
On August 6, 2022, OSG Group Holdings, Inc., which provides transactional, marketing, and payment solutions to various industries, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case…
New York State Establishes Hotline for Sexual Harassment Complaints
In early 2022, New York State entered S.812B/A.2035B into law, which amended the New York State Human Rights Law, N.Y. Executive Law § 296, to require a statewide toll-free, confidential hotline (the “Hotline”) for the lodging of complaints of sexual…
Common Errors that Arise during an Estate Administration
In our busy practice, we tend to see certain recurring errors. In particular, we see planning errors that arise during the estate administration process after someone dies. Below are a few of these common errors, and, in the spirit of,…
Governor Signs Bill Extending A-901 Licensing Deadline for Dirty Dirt Law
New Jersey has extended the deadline for businesses engaged in “soil and fill recycling services” to comply with key provisions of N.J.S.A. 13:1E-127, et seq., which was enacted on January 21, 2020 and is known as the ‘Dirty Dirt Law.’…
New Chapter 11 Filing – GenapSys Inc.
By Cole Schotz
On July 11, 2022, genomic sequencing company GenapSys Inc. of Redwood City, CA filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10621). The company reports $10…
New Chapter 11 Filing – Voyager Digital
By Cole Schotz
On July 5, 2022, New York-based cryptocurrency exchange, Voyager Digital Holdings, Inc. along with its publicly traded Canadian affiliate, Voyager Digital Ltd., filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the…
New Chapter 11 Filing – SAS AB
By Cole Schotz
On July 5, 2022, Scandinavian airline SAS AB, along with several affiliates, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-10925), reporting $10…
New Chapter 11 Filing – Enjoy Technology, Inc.
By Cole Schotz
On June 30, 2022, Palo Alto, California-based mobile technology retailer pairing company Enjoy Technology, Inc., along with two affiliates, who provide a revolutionary commerce-at-home experience for consumers through the companies’ network of mobile retail stores, filed a petition for relief…
New Chapter 11 Filing – First Guarantee Mortgage Corporation
By Cole Schotz
On June 30, 2022, Plano, Texas-based mortgage lender First Guaranty Mortgage Corp. (“FGMC”), filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 22-10584). FGMC reports $500…