BLT: March 2015



Business & Corporate

Our Mini-Theme: Employee Benefits

Employee benefits and executive compensation continue to be evolving and diverse practice areas. A practice in employee benefits and executive compensation touches on myriad other dedicated practice areas: health law, taxation, information protection and privacy, trusts, and others. The Business Law Section’s Employee Benefits and Executive Compensation Committee is dedicated to keeping the Business Law Section current on these issues and is pleased to present this mini-theme to discuss general employee benefit topics. The four articles we present, described below, illustrate the broad implications of employee benefits and executive compensation in any business-focused practice.

Business & Corporate

ESOPs: A Tax Advantaged Exit Strategy for Business Owners

As business owners reach retirement age and seek liquidity for their life-long investments, many will need an exit strategy to transition ownership of their businesses. An employee stock ownership plan, or “ESOP,” may provide a practical exit strategy. This article will describe ESOPs, discuss how they provide a reasonable exit strategy for a business owner, and review the advantages and disadvantages of selling all or a portion of a business to an ESOP.

Real Estate

The TRIA’s Reauthorization and What It Means for the Real Estate Industry

Early this year, Congress and the president reauthorized the Terrorism Risk Insurance Act, which permits the federal government to supplement insurance losses resulting from catastrophic terrorist attacks after damages reach a certain threshold. While some consider the act to be an example of a federal “subsidy” to the insurance industry, others maintain that it is necessary to promote economic recovery in an age where damage from terrorist attacks is an ever-increasing reality.

Business & Corporate

Taming the Beast: Lessons in Civility from Zenith v. Matsushita

The behind-the-scenes activity at the trial court level in a case that has become famous for the U.S. Supreme Court’s ultimate decision in Matsushita Electric Industrial Co., Ltd. v. Zenith Radio Corp, illustrates how one federal judge fostered and maintained civility in one of this nation’s largest, most complex, and most contentious lawsuits, and in doing so, managed to bring a pair of lawsuits that had been pending for many years to a conclusion.


Business & Corporate

KEEPING CURRENT: Integrity Staffing Solutions, Inc. v. Busk: Employee Time in Security Screenings Not Compensable Work under FLSA

Those who violate the FLSA may be assessed damages for unpaid overtime or minimum wages, liquidated damages equal to the amount of unpaid wages, and reasonable attorney fees and costs. Willful violations may carry criminal and civil penalties. While the command is simple – pay employees for their work – its implementation can be fraught with difficulties.

Business & Corporate

MEMBER SPOTLIGHT: An Interview with Chief Justice Leo E. Strine, Jr.

In February of 2014, Leo E. Strine, Jr. became the eighth Chief Justice of the Delaware Supreme Court, marking a long life of public service. Before the appointment, Chief Justice Strine served on the Delaware Court of Chancery as Chancellor and as Vice Chancellor. He also teaches at Harvard, University of Pennsylvania, and Vanderbilt Schools of Law. Since 2006, he has served as the special judicial consultant to the ABA Business Law Section's Corporate Laws Committee.