Local Law Blogs

Bad Contracts Between Shareholders - Unfavorable Loans and Lease Agreements

Posted on June 02, 2010
Often majority shareholders will enter into various kinds of unfavorable contracts between the closely held company and themself or a business owned by them in order to siphon off corporate earning or assets.  Generally, directors and majority shareholders are fiduciaries and owe to the minority shareholders along to the corporation itself certain duties of care, loyalty and good faith...

2010 CAI Law Seminar

Posted on June 01, 2010
I recently returned from the Annual CAI Law Seminar in Tucson. As is the norm at these gatherings, attorneys (and some managers) from across the country assemble to take part in a three-day forum on cases of interest from the past year, and breakout sessions for legal seminars on a variety of topics...

BPU's Office of Clean Energy Temporarily Suspends Acceptance of Applications for Home Performance with EnergyStar Program

Posted on May 28, 2010
The Office of Clean Energy Program, which offers homeowners (including all electric utility customers and users of oil or propane heating systems) whole-building home energy assessments and financing for recommended energy efficiency measures through its Home Performance with EnergyStar has temporarily suspended taking new applications as of May 8, 2010, due to the tremendous influx of applications under the program...

Mere Status as a Tenant Not Sufficient to Require Notice of Public Hearing

Posted on May 27, 2010
On May 19, 2010, the New Jersey Supreme Court affirmed the Appellate Division's ruling in Iron Mountain Information Management v. City of Newark, reported at 405 N.J.Super. 599 (2009), that a commercial tenant, who had an option to purchase the building it leased was not entitled to receive individual notice of a local planning board's public hearing on a proposed blight declaration under the Local Redevelopment and Housing Law...

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Now That You Have Created a New RIA, Do Not Forget That You Are an Employer Too

Posted on May 27, 2010
Opening your own RIA can be an exhilarating experience.  No more administrative red tape, no more administrative paperwork - and the knowledge that you have escaped what is often times the bureaucratically oppressive climate of the major wire house...

Governor's New Policies Spell Trouble For Public Union Members

Posted on May 27, 2010
Members of public unions (i.e., police, fire, Turnpike, etc.) are in for a rough ride this year as the full impact of Governor Christie's policies start to be felt.  Not only are there significant cutbacks in spending, but it is becoming apparent that management will be much more aggressive with disciplinary sanctions than ever before...

A Case Study on the Importance of Forum Selection in Mass Tort Litigation

Posted on May 21, 2010
Craig S. Hilliard and Martin P. Schrama, Shareholders in Stark & Stark's Litigation Group, authored the article, A Case Study on the Importance of Forum Selection in Mass Tort Litigation, for the May 17, 2010 New Jersey Law Journal Complex Litigation & E-Discovery supplement...

Green Building Performance Goals - Defining and Setting Consumer Expectations

Posted on May 20, 2010
When a builder enters into a contract for the construction of a building, the builder needs to be sure and set realistic green building performance goals that are within the builder's reasonable control. It is also advisable to establish a mutually agreeable method for measuring building performance after construction is complete...

Court Distinguishes Standard of Review for Blight Declarations and Redevelopment Ordinances

Posted on May 20, 2010
According to the Appellate Division, the findings underlying a municipal governing body's decision relating to the adoption of a redevelopment plan by ordinance, including any determination regarding the plan's consistency or inconsistency with the master plan, must be adequately supported by the record...

Bulk Sale Notification in Real Estate Sales

Posted on May 18, 2010
Selling a home which you recently rented out because of the difficult real estate market? Well, you may discover that at closing, the state of New Jersey may want to escrow part of your closing proceeds to cover any existing tax debt or estimated taxes on any gain from the sale...

Rebates under New Jersey's Renewable Energy Incentive Program

Posted on May 17, 2010
The Renewable Energy Incentive Program (REIP), which is part of the Board of Public Utilities' Clean Energy Program offers New Jersey utility customers, who contribute to the societal benefits charge authorized by Section 12 of the Electric Discount and Energy Competition Act (N...

New Jersey's Renewable Energy Incentive Program

Posted on May 17, 2010
The Renewable Energy Incentive Program (REIP), which is part of the Board of Public Utilities' Clean Energy Program offers New Jersey utility customers, who contribute to the societal benefits charge authorized by Section 12 of the Electric Discount and Energy Competition Act (N...

NJ Energy Star Homes Program Offers Builders Generous Financial Incentives

Posted on May 13, 2010
The NJ Energy Star Homes Program offers builders generous financial incentives to construct residential dwellings that are at least 15% more efficient than homes built in accordance with the 2006 International Energy Conservation Code (IECC 2006) provided that they are located in a Smart Growth Area (i...

Live Interview from the 2010 International Franchise Association Convention

Posted on May 12, 2010
This installment of the New Jersey Legal Update podcast is an interview, live from the 2010 International Franchise Expo in Washington DC, with Adam J. Siegelheim, member of Stark & Stark's Franchise group, and Fred Kriss, Founder of FranchiseRight...

New Time of Application Rule Will Help Developers

Posted on May 11, 2010
On May 5, 2010, Governor Chris Christie signed Senate bill S82 into law, as P.L. 2010, c.9, amending the Municipal Land Use Law to require that land development regulations, except those relating to heath and public safety, '[w]hich are in effect on the date of submission of an application for development shall govern the review of that application for development and any decision made with regard to that application for development...

Stark & Stark Shareholder Comments on Smith Barney Raiding Case

Posted on May 06, 2010
Thomas B. Lewis, Chair of Stark & Stark's Employment Group, was quoted in the May 5, 2010 Dow Jones article, Finra Panel Throws Out Smith Barney Raiding Case. The article discusses the recent decision by the Financial Industry Regulatory Authority arbitration panel to throw out a case in which Smith Barney alleged raiding by a group of top-producing brokers and a boutique wealth management firm...

Bill Extending New Energy Efficient Home Credit through December 31, 2010 Awaits Reconciliation and Signature by President

Posted on May 06, 2010
Originally created by Energy Policy Act of 2005, the New Energy Efficient Home Credit provides a $2,000.00 tax credit to a person who constructs a qualified new energy efficient home and a $1,000.00 tax credit to a person who constructs a qualified manufactured home provided that in either case: (a) such person shall own and have a basis in the home during its construction (b) the home is located in the United States and meets certain energy saving requirements (c) construction is substantially completed after August 8, 2005 and (d) the person who constructed the home sells or leases the home to another person for use as a residence home after December 31, 2005, and before January 1, 2010, for use as a residence...

Stark & Stark Shareholder Interviewed on Ask the Experts

Posted on May 05, 2010
Gary S. Forshner, Shareholder in Stark & Stark's Real Estate, Zoning & Land Use Group was a featured panelist on WMTR's Ask the Experts radio show, hosted by Jessie Frees, as they discuss the 2010 New Jersey Builders Association's Atlantic Builders Convention...

Stark & Stark Shareholder Comments on Reuters.com Article

Posted on May 03, 2010
Thomas B. Lewis, Shareholder and Chair of Stark & Stark's Employment Group, was quoted in the April 30, 2010 Reuters.com article, Deutsche team goes to Barclays after suit settled.   The article discusses the recent move of a team of top advisers from Deutsche Bank Alex...

Post Required Federal Signs for Association Employees

Posted on May 03, 2010
As noted in relevant community association-related publications, like Community Association Management Insider, federal law mandates the posting of various signs setting forth information to their employees.  The necessary signs are available free of charge from the federal government...

SCORE of Princeton to Hold Small Business Fair

Posted on April 29, 2010
The Greater Princeton Area SCORE Chapter and the Princeton Public Library will host a Small Business Fair at the Library, Saturday May 22, 2010. The fair will be held in the Library's Community Room from 11:00 AM to 3:00 PM (admission is free to the public)...

Advisers switching firms need a plan

Posted on April 28, 2010
Thomas B. Lewis, Chair of Stark & Stark's Employment Group, was quoted in the April 27, 2010 Reuters.com article, WEALTH MANAGER-Advisers switching firms need a plan. The article discusses the hardships advisers face when they have made the decision to leave their firm and head out on their own, the most troublesome issue: not being able to inform clients in advance...

Economic Development Authority - NJ PACE

Posted on April 27, 2010
The NJ Legislature is presently considering the creation of a property assessment clean energy (PACE) municipal financing program.  Under the proposed legislation, introduced as Senate bill S1406 on February 11, 2010, the New Jersey Economic Development Authority (EDA) in consultation with the Board of Public Utilities (BPU) is charged with providing money through low-cost sources of financing, such as qualified energy conservation bonds, to municipalities interested in facilitating the purchase of solar equipment by property owners...

Alimony & Retirement

Posted on April 23, 2010
One of the most common questions I hear from clients regarding alimony is 'What happens when I retire?'  The answer is, 'It depends.'  Retirement does not automatically terminate alimony.  If no agreement is reached between the parties at the time of retirement, the obligor must make an application to the Court close to the retirement date to reduce and/or terminate his or her alimony obligation...

Updates to the Federal Trade Commission's "Green Guides" May Impact Building Industry

Posted on April 22, 2010
Under the Federal Trade Commission Act, the Federal Trade Commission has broad regulatory authority over the advertising of goods and services.  This includes, among other things, building products.  Persons and corporate entities, who engage in any unfair or deceptive acts or practices in their marketing activities are subject to disciplinary action, which may include various forms of injunctive relief or civil monetary penalties...

An Ounce of Prevention....

Posted on April 21, 2010
An ancient proverb states that "an ounce of prevention is worth a pound of cure".  Generally, this means that it is easier to forestall a disaster than to deal with it.  Little advice could be more important to condominium associations than this...

HOA Wins Lawsuit and is Allowed to Maintain it's Gates and Controlled Access in Relation to its Public Roads

Posted on April 21, 2010
Many, many years ago the developer of a New Jersey HOA secured township approval of a development plan by which market rate single family homes would be constructed along streets intended to be public.  Thereafter, this developer obtained approval from the township to change the community into an active adult community...

StarK & Stark Shareholder Comments on Goldman Sachs Fraud Charges

Posted on April 21, 2010
Bill Singer, Shareholder in Stark & Stark's Securities Group, was quoted in the April 21, 2010 CNBC article, Major Issue in Goldman Case: Was There Really Any Fraud?   Last week, the United States Securities and Exchange Commission charged Goldman Sachs with civil fraud stating that they defrauded investors in its disclosures about securities it sold tied to subprime mortgage securities as the housing market was faltering...

Enforceable Non-Compete Agreements: How Employers Can Adequately Define and Protect Their Legitimate Business Interests

Posted on April 20, 2010
Thomas B. Lewis, Chair of Stark & Stark's Employment Group, and Mark F. Kowal, member of Stark & Stark's Employment Group, authored the article, Enforceable Non-Compete Agreements: How Employers Can Adequately Define and Protect Their Legitimate Business Interests, for the March 29, 2010 edition of the New Jersey Law Journal...

Increased Foreclosure Judgments - Getting the Association All It's Owed

Posted on April 19, 2010
In 2009, a Stark & Stark condominium client entered a foreclosure judgment against an owner.  After foreclosure unit delays and a breached payment plan, the unit was scheduled for sheriff's sale.  Prior to that sheriff's sale, the unit owner paid the full amount of that judgment plus all sheriff's fees...

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