Blogs

Business and Financial Services

Minority Shareholder Rights in Virginia

Minority shareholders in closely held Virginia corporations may have legal remedies when majority owners use control in ways that are oppressive, fraudulent, or unfairly prejudicial. In this Bean, Kinney & Korman article, James V. Irving examines Virginia law through the lens of Colgate v. The Disthene Group, Inc., focusing on claims involving shareholder oppression, waste of corporate assets, and misuse of corporate control. The piece explains that while the business judgment rule can protect…

December 2, 2013

Tax Law

1031 Exchanges with a Twist

Section 1031 exchanges can help real estate investors defer capital gains taxes, but the short identification window often makes it difficult to find replacement property that fits an investor’s goals. In this Bean, Kinney & Korman article published in the BKK Wills, Trusts & Estates Newsletter, Jonathan C. Kinney explains how investors have traditionally used tenant-in-common structures to pool capital, while also warning that those arrangements can become unstable when unanimous consent…

November 2, 2013

Estate Planning

Estate Administration 101: What You Need to Know to Effectively Administer an Estate Qualifying as Executor

Serving as an executor starts with a formal qualification process, and that first step can be more demanding than many people expect. In this Bean, Kinney & Korman article published in the BKK Wills, Trusts & Estates Newsletter, Lauren K. Keenan explains that an executor must bring the original will and any codicils to the proper probate office, confirm jurisdiction, prepare for possible bond or surety requirements, and complete the court process necessary to receive letters of qualification.…

November 2, 2013

Construction

Of Boats, Dining and Zoning: Virginia Supreme Court Decides Old Dominion Boat Club v. Alexandria City Council

On October 31, 2013, the Virginia Supreme Court decided Old Dominion Boat Club v. Alexandria City Council, et al. The case involved ongoing litigation between the Old Dominion Boat Club (ODBC), the City of Alexandria, and the owner of a restaurant along Union Street in Alexandria, regarding the continuing existence of a private easement in…

November 1, 2013

Bankruptcy, Restructuring and Creditors’ Rights

Bankruptcy and Government Contractors

Government contractors that enter bankruptcy face a different set of risks than ordinary commercial debtors because the value of the business often depends on preserving existing federal contracts and eligibility for future awards. In this Bean, Kinney & Korman article published in the BKK Business Law Newsletter, Andrea Campbell Davison explains that Section 525(a) of the Bankruptcy Code can limit government discrimination based solely on bankruptcy status, but those protections are narrow in…

November 1, 2013

Business and Financial Services

False Notes in the Music Industry: Fiduciary Duty of Business Partners

A “fiduciary duty” is imposed by law upon parties with certain relationships dependent on a high level of trust and confidence. According to the Supreme Court of Virginia, a fiduciary relationship is established “whenever a special confidence has been reposed in one who in equity and good conscience is bound to act in good faith.” The duty requires scrupulous good faith and candor between the parties. It typically arises between trustee and beneficiary and guardian and ward, but also between…

November 1, 2013

Business and Financial Services

Business Audits Allow Business As Usual

Businesses often focus on day-to-day operations while overlooking internal legal and operational weaknesses that can create significant exposure over time. In this Bean, Kinney & Korman article, James V. Irving explains that regular business audits can help companies identify risks before they turn into disputes, regulatory issues, or costly litigation. The analysis highlights that an effective audit should examine more than just finances, including corporate governance documents, buy-sell…

October 22, 2013

Divorce and Family Law

What Are My Options in a Divorce Besides Going to Court?

Divorcing couples do not always need to resolve disputes through litigation, and several alternative processes may offer greater flexibility, privacy, and control than a courtroom proceeding. In this Bean, Kinney & Korman article, James W. Korman explains that options such as mediation, neutral case evaluation, arbitration, and collaborative law can help parties address custody, support, property division, and debt allocation without a trial. The piece emphasizes that these approaches may…

October 21, 2013

Construction

The Recurring Quixotic Quest for Zoning Moratoria in Northern Virginia

Arlnow.com recently reported that the Arlington Ridge Civic Association (ARCA) has requested the Arlington County Board “freeze” all zoning action within the Arlington Ridge neighborhood until the impact of current development on the neighborhood can be assessed. This request came as part of ARCA updating its Neighborhood Conservation Plan, a non-binding document that creates recommendations…

October 19, 2013

Divorce and Family Law

Divorce, Child Support and Alimony

Child support and alimony are often among the most financially significant and contested issues in a divorce, but Virginia law treats them differently. In this Bean, Kinney & Korman article, James W. Korman explains that child support is generally determined through statutory guidelines based on parental income, custody arrangements, health insurance costs, and childcare expenses, while alimony is more discretionary and depends on factors such as the length of the marriage, the parties’…

October 16, 2013