Monthly Archives: June 2013

"Tax Tips: New IRS option can simplify deduction calculations," Carl Grassi, published in Crain’s Cleveland Business

Although the U.S. economy is showing signs of improvement, many individuals who lost their jobs over the past few years have turned to operating their own small businesses, often ones that can be operated out of their homes.

These taxpayers often seek to deduct expenses relating to maintaining the business in their home.

While this still can be a fairly complicated issue, the IRS announced earlier this year that it is making available a simplified option that owners of home-based businesses can use to figure their deductions for the business use of their homes.

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Testamentary Trust Proposals: Not Much of a Consultation

For many years, estates and testamentary trusts (trusts created under a will) have been subject to tax on income and capital gains at graduated rates, in a similar manner to how individuals are taxed. When it was released in April of this year, the 2013 Federal Budget included a section that grabbed the attention of estate planners. It announced the Government’s intention to consult on possible measures to eliminate the benefit of graduated rates on these trusts.

The announcement that consultation would occur before the legislation was introduced was a pleasant surprise. Usually, the federal government announces significant tax changes by making a vague announcement of the change, effective on the announcement date, followed by draft legislation which often remains in draft for years while no one knows whether to treat it as law or not.

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TARK GRUNTE SUTKIENE successfully represented a minority shareholder in a dispute with BLRT Grupp AS

On 14 June, Tallinn Circuit Court allowed the appeal lodged by Mr Mihhail Gnidin in a dispute concerning restrictions on the voting rights of shareholders. The aim of the action brought by Mr Gnidin was to establish whether a resolution adopted at the extraordinary general meeting of BLRT Grupp AS held on 13 February 2012 was void due to a conflict of interests.

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Court Orders Anonymous Blogger to Pay Executive $200K in Damages

In a recent decision, the Ontario Superior Court of Justice awarded a corporate executive general damages of $100,000, aggravated damages of $50,000, punitive damages of $50,000 and approximately $50,000 in legal fees against an anonymous  “John Doe” defendant who had persisted in posting defamatory comments about executive on a website hosted by Blogger, a Google web service.

The plaintiff was a lawyer and a director of legal affairs at Quebecor Media Inc. (“Quebecor”). The defendant was unknown.

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Week of June 17, 2013 on ILNToday – A Roundup!

The humidity finally broke here in the northeast, so it’s been a beautiful few days – here’s hoping it continues through the weekend!

We’ve had some great content come through ILNToday this week and here are this week’s top posts!

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ILN Today Post

Another helping of popcorn

Some readers may remember an earlier article which highlighted a dispute between Trebor Bassett/Cadbury and ADT Fire and Security.

As a quick recap, ADT had designed a bespoke fire fighting system installed in a popcorn factory owned by a partnership which was a subsidiary of the confectioner Cadbury (Cadbury Partnership). When a fire started in the factory the ADT designed system failed and the factory was completely destroyed. The Cadbury Partnership sued ADT for the damages caused. The court found in favour of the Cadbury Partnership but reduced the award by 75% for its contributory negligence. This decision was upheld on appeal.

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Baltic B&F Newsletter: syndicated loan cartel, Euro in Latvia, responsible lending and more

Newsletter PDF 

Dear reader,

We have compiled for you an overview of recent changes in banking and finance law. We hope the summary will save your time catching relevant legal news for your business.

If you have any questions, comments or would like additional advise regarding topics below, get in touch with our experts using the contacts below.

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TARK GRUNTE SUTKIENE attended the 30th annual conference of the International Bar Association

Date: May 23-24, 2013
Location: Copenhagen, Denmark

TARK GRUNTE SUTKIENE partners Hannes VallikiviVilius Bernatonis, and senior associate Māris Liguts participated in the 30th International Financial Law Annual Conference of the International Bar Association (IBA) held in Copenhagen, Denmark, from 23 to 24 May 2013.

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Baltic B&F Newsletter: Euro in Latvia, responsible lending, credit unions and more

Hannes VallikiviVilius BernatonisInese HazenfusaAndres SiigurIeva DosinaitėIvita Samlaja

Newsletter PDF 

Dear reader,

We have compiled for you an overview of recent changes in banking and finance law. We hope the summary will save your time catching relevant legal news for your business.

Read full article

Attorney Adam C. Smith joins the Cleveland office of McDonald Hopkins law firm

Cleveland, Ohio (June 21, 2013) – Adam C. Smith has joined the Cleveland office of McDonald Hopkins LLC as an associate in the Litigation Department. His practice will focus on complex civil litigation, including commercial and business litigation, public utility and energy law, real estate, and labor and employment.

Prior to joining McDonald Hopkins, Smith served as a judicial staff attorney for the Honorable Dick Ambrose of the Cuyahoga County Court of Common Pleas. Smith received his J.D. cum laude in 2011 from Cleveland Sate University’s Cleveland-Marshall College of Law, where he was a research editor for the Journal of Law and Health and a member of the Moot Court Team. He graduated from Ohio State University in 2007 with a Bachelor of Science degree in Business Administration.

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