Latest From Skadden

  • Two Additional Presidential Candidates Subject to Federal Pay-to-Play Rules
    Skadden, Arps, Slate, Meagher & Flom LLP
    Kenneth A. Gross, Ki P. Hong, Matthew Bobys, Melissa L. Miles, Charles M. Ricciardelli, Theodore R. Grodek, Shayla K. Parker, Jeremy F. Regan, Tyler Rosen

    Two new candidates for the Democratic presidential primary are subject to federal pay-to-play rules as sitting local or state elected officials. As mentioned in a prior mailing, three candidates who previously announced their candidacy are also subject to the rules.

  • Second Wave of Opportunity Zone Guidance Addresses Many Key Issues, Leaves Open Questions for Future Guidance
    Skadden, Arps, Slate, Meagher & Flom LLP
    Meryl K. Chae, Nickolas Gianou, David F. Levy, Diana M. Lopo, Vered Rabia, Sarah E. Ralph, Sean Shimamoto, Nazmiye A. Gokcebay, Christian Husby
    The Treasury Department and the IRS recently issued a second set of proposed regulations concerning the taxation of qualified opportunity zone funds and their investors. The new proposed regulations address a number of concerns left unaddressed by the initial proposed regulations and establish a sensible framework under which many investors should be able to move forward with opportunity zone projects. Although taxpayers may rely on these rules before they are finalized, that ability does not extend to certain rules that could be germane to structuring decisions, and the inability to rely on them is of concern.
  • US Supreme Court Holds That Bankrupt Companies Cannot Rescind Trademark Licenses
    Skadden, Arps, Slate, Meagher & Flom LLP
    Anthony J. Dreyer, Jay M. Goffman, Christine A. Okike, Jordan Feirman, Bryan Kotliar
    On May 20, 2019, the U.S. Supreme Court concluded in Mission Product Holdings, Inc. v. Tempnology, LLC that debtors in Chapter 11 bankruptcy cannot unilaterally rescind trademark licensees' rights to use debtors' marks. The Court resolved a long-standing circuit split that had been referred to as “the most significant unresolved legal issue in trademark licensing.”