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Top 10 Errors For Sellers to Avoid During an M & A Transaction
8/2/2022
Mergers and acquisitions are a significant focus of Williams, Bax & Saltzman, P.C. Many of our M&A clients approach us with hurried, last-minute requests to get their business ready for sale. The good news is that the stress and missteps we see in the M&A process are mostly, if not completely, avoidable. Read on to see how attorneys Joel Goldblatt and Andrew Arons can assist Sellers in these complex transactions by highlighting these top 10 potential pitfalls and the why behind each.
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BIOMETRIC INFORMATION PRIVACY ACT: PART ONE OF A FOUR-PART SERIES
6/20/2022
The Illinois Biometric Information Privacy Act (“BIPA”) provides a private right of action and statutory damages to address risks associated with the use of biometric data. Given that the statute’s interpretation is in a current state of flux with recent court rulings, it is important for any private entity using biometric data to understand its basic elements and impact. Corporate Law Attorneys Jeff Davis and Patrick Coonan walk us through the first part of this series: the basics. This informative summary highlights key biometric identifiers, including their applications and advantages. Additionally, it highlights how BIPA imposes five requirements, including consent and written notification. Part Two of this series will examine potential risks and mitigation strategies.
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WBS Partner Presents on Real Estate Issues
5/3/2022
Real Estate and Corporate Practice Group Partner, Andy Arons, had the pleasure of leading a presentation at the IICLE Family Law Institute regarding real estate and contractual issues arising in co-habitation agreements between unmarried partners. Andy would like to thank his co-presenter, family law attorney Candace Meyers and the Illinois Institute for Continuing Legal Education for the opportunity. For more information on the event, please visit: https://www.iicle.com/FLI22 and for more information on Andy, please visit: http://wbs-law.com/attorneys/andrew-d-arons/
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AVOIDING IT CONTRACT LIABILITY TRAPS: TOP 10 RESOLUTIONS TO STILL KEEP
4/6/2022
Don't let 2022 be the year your organization is behind in the IT development curve and facing possible contract liability exposure. It's always a good practice to perform an annual self "check-up" on your organization's Information Technology operations. Attorney Jeff Davis walks us through in detail a checklist of 10 IT goals every organization should consider at least annually to assess its IT "health." This informative list should enable a workable, systematic approach to identifying and mitigating IT risks, and potentially avoiding extraordinary and unbudgeted IT costs.
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CHICAGO FAIR WORKWEEK ORDINANCE REQUIRES EMPLOYERS TO PROVIDE PREDICTABLE WORK SCHEDULES FOR EMPLOYEES
2/2/2022
On July 1, 2022, the phase-in provisions of the Chicago Fair Workweek Ordinance ("CFWO" or the "Ordinance") will require covered employers to provide covered employees with a 14 day advance notice of their work schedules, a change from the current 10 day notice. Partner Kerry Saltzman and Associate Patrick Spellman outline how employers and employees are affected by this change and other aspects of CFWO, from predictability pay to pay rates for scheduled work hours cancelled under 24 hours' notice.
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OSHA ISSUES & FEDERAL COURT RULING CURRENTLY BLOCKS EMERGENCY TEMPORARY STANDARD FOR COVID-19 VACCINATIONS
11/23/2021
A recent court-imposed stay blocked an emergency temporary standard (ETS) issued in early November by the Occupational Safety and Health Administration (OSHA) that mandates private employers with 100+ employees to require employees to be vaccinated against COVID-19 or submit to weekly testing and to wear masks in the workplace. According to the ETS, covered employers must ensure that all unvaccinated workers begin wearing masks by December 5, 2021, and provide a negative COVID-19 test on a weekly basis beginning on January 4, 2022. Read on how WBS employment attorneys Kerry Saltzman and Patrick Spellman break down the ETS's requirements for employers to help them remain prepared to take appropriate steps towards implementation.
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WBS WINS BACK-TO-BACK APPEAL DECISIONS
9/3/2021
WBS has won two Illinois Appellate Court victories in 2021, both spearheaded by Partner Mitch Bryan. Please read on to learn more about these favorable corporate governance and insurance coverage appellate court decisions in May and August of this year.
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WBS Represents Local Manufacturer in Sale
8/23/2021
The WBS deal team, led by Howard M. Cohen along with attorneys Andrew D. Arons and Patrick M. Coonan, acted as legal advisor to Chicago Protective Apparel in its sale to Mechanix Wear, a portfolio company of middle-market private equity firm Gryphon Investors.
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Pending Illinois Bill Will Further Limit The Use of Restrictive Covenants in Illinois
7/30/2021
The Illinois General Assembly recently passed Senate Bill 672 (“SB 672”) to amend the Illinois Freedom to Work Act (“IFWA”). The amendments will further limit and clarify when a restrictive covenant can be enforced against an Illinois employee. Please read on to find out more from Partner Kerry Saltzman and Associate Patrick Spellman about the impact of this new legislation on both employers and employees.
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Subsidized COBRA Coverage Under the American Rescue Plan Act
4/15/2021
The American Rescue Plan Act of 2021 ("ARPA"), passed in March, includes a 100% premium subsidy for many individuals eligible for COBRA health insurance benefits. It is vital that employers are familiar with their obligations under this new law. Learn more from WBS Associate Attorney Patrick Spellman in this article.
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Window on use of the current Federal Transfer Tax Exemption may soon be closing.
11/2/2020
Election results may dramatically affect estate planning by accelerating the reduction of the Federal gift, estate, and generation-skipping tax exemption. It may be best to consider using this exemption before the start of 2021. WBS Partner Joel Goldblatt, WBS Of Counsel Sidney Levine and associate attorney Patrick Coonan will help navigate these changes in this article.
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Carefully Consider the Effect of the SECURE Act On Your Estate Plan
10/19/2020
It is important not to let the pandemic derail plans for retirement. Recently signed into law was the SECURE Act (Setting Every Community Up for Retirement Enhancement Act), landmark legislation that may affect how you plan for retirement as well as how you design your existing estate plan. There are critical tax changes incorporated into this law whose impact can be minimized by taking the right steps. Read below on how WBS partners Joel Goldblatt, Andrew Arons and WBS Of Counsel Sidney Levine highlight these changes and the importance of reviewing estate plan documents and beneficiary designation forms to maximize income tax advantages and help you achieve your goals.
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Employment Law Developments - Effective July 1, 2020
7/8/2020
If you are an employer whose employees work in the city of Chicago, take note of several new labor laws that went into effect on July 1st. Read below to get up to speed on updated Fair Workweek Ordinance detail and provisions, as well as updates on the Minimum Wage Ordinance and Paid Sick Leave Ordinance. WBS can help guide you through these ordinances as businesses continue to deal with impact of COVID-19.
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Jarret Raab and Andy Arons Serve as Expert Panelists on Healthcare Webinar
4/23/2020
WBS partners, Jarret Raab and Andy Arons, were expert panelists on the April 18, 2020 episode of healthcare webinar series hosted by the Texas Regional Physician Awareness Seminars during which they discussed the legal and practical implications of the COVID-19 crisis on health care employers and workers.
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PREPARING FOR THE FUTURE: Current events require that you revisit your estate plan
4/21/2020
The Coronavirus pandemic has forced us all to change many aspects of our lives. The potential for short term or extended unemployment, and risk of fatal illness, are compelling reasons to revisit your estate plan. WBS Of Counsel, Sid Levine, has written this article about how your estate plan can help you prepare for the future in these turbulent times.
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Fulfilling Contractual Obligations Amid COVID-19
4/13/2020
We are living in precarious times. Between "stay-at-home" orders and financial uncertainty, it is important all companies take the time to review their contracts. Read below to see how one of our attorneys, Jarret Raab, explains how businesses can mitigate the virus' economic impact by understanding their contractual rights and obligations.
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Are Businesses Covered in Light of COVID-19?
4/13/2020
Are you covered? In light of the coronavirus pandemic, our litigation partner, Mitchell Bryan, published an article in the Chicago Daily Law Bulletin last week detailing how important it is for companies to preserve records of economic loss and "assert their insurance contract rights promptly."
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Cares Act and SBA Loans Explained
4/7/2020
Williams, Bax and Saltzman, P.C. has prepared for our clients a primer of everything you need to know about the recent legislation enacted by Congress in response to the COVID-19 Pandemic. This unprecedented time and legislation will affect all employers and their employees. To view the CARES ACT and SBA Loans article to learn how businesses can take advantage of these programs click on the link below.
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Business Interruption Insurance: Battle Lines Are Drawn (but don't be late to the battle front)
3/30/2020
The minute it was apparent the pandemic would temporarily shut down businesses, insurance coverage counsel everywhere knew we were headed for a war within a war. As the war with Coronavirus rages, the longer battle in the courts has just begun between insurers and businesses—and possibly State legislatures—over applicability of business interruption (BI) coverage for economic loss caused by Covid-19.
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Families First Coronovirus Response Act ("FFCRA")
3/23/2020
The FFCRA is comprised of two primary components that affect employers that have fewer than 500 employees. One component of FFCRA relates to the expansion of the Family Medical Leave Act ("FMLA") and paid sick leave protections for employees that are affected by COVID-19. The second component of FFCRA relates to the tax credits available to employers who provide COVID-19 paid sick leave benefits to employees."
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COVID-19 - Frequently Asked Questions
3/19/2020
With the constant coverage of the Covid-19 Pandemic and the economic crisis that has accompanied it, WBS has prepared a comprehensive summary of everything you need to know to protect your employees and your business. The article COVID-19 Frequently Asked Questions can provide some answers to the questions that you have in this crisis.
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Sweeping Changes to Illinois Employment Laws in 2020 Affecting All Employers
3/19/2020
There have been several significant employment laws have been added to the books in 2020 that significantly impact Illinois companies. This article provides a comprehensive summary of those changes for our clients. Please contact Kerry Saltzman (saltzman@wbs- law.com) or Aaron Chaet (chaet@wbs-law.com) with any employment questions regarding these or any other laws.
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WBS Obtains Injunction in Non-Profit Governance Dispute
10/1/2019
Mitch Bryan, representing 3,000 member Association of Physicians, obtained a preliminary Injunction restricting unauthorized actions of Association President in a 3-day bench trial.
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W|B|S WINS SUMMARY JUDGMENT ON SEX DISCRIMINATION AND WRONGFUL TERMINATION CLAIMS
2/27/2019
Kerry Saltzman and Aaron Chaet of W|B|S’s Labor and Employment Law Department obtained summary judgment for a client accused of sex discrimination and wrongful termination.
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2019 New Employment Laws
1/1/2019
Employers in Illinois need to be aware of changes to state and federal employment laws that became effective in 2019. The following is a summary of some of the more important changes.
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New Cook County Business Ordinances Scheduled to Take Effect on July 1, 2017
6/21/2017
Employers operating in Cook County, Illinois, should be aware that beginning July 1, 2017, they will be required to provide their employees with paid sick leave.
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Informed Employer
9/8/2015
Restricting transgender employees access to restrooms constitutes unlawful discrimination.
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WBS Bus. Law Digest
12/1/2013
Before beginning the adventure of a new business venture, owners should make sure that they step off on the right foot and make certain that the vehicle they use for the business is working the way they expect.
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Managing Professional Liability Litigation Against Accounting Firms
9/1/2013
A three-part series discussing the basic components of a professional liability lawsuit brought against an accounting firm and its partners and the factors a firm’s managing partner should take into consideration before and during this type of litigation.
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Stop, Look, Listen... and Exercise Independent Judgment:
8/1/2007
Common Situations in Which Director Fiduciary Duties Arise
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Ready-to-Wear or Custom-Fit
8/1/2007
Sizing Up LLC Manager and Member Fiduciary Duties
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The Evolving Role Of Lead Directors
3/29/2006
The evolution and expansion in the role of designated “lead directors” has been a significant change to corporate boards in recent years.
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Looking Before You Leap . . . Into the Boardroom
2/1/2006
Take a close look at the expectations and risks of serving as a corporate director today, and also of the qualifications of those currently sitting on the board you’ve been invited to join.
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