Law Memo

Trademark protection in Africa: Best-advised strategies

February 10th 2019

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Protecting Assets in the Event of a Loan Default

May 21st 2018

Dr. Ashtan had a successful surgical practice. He worked hard and built a comfortable life for himself and his family. He took calculated risks and encouraged his children to be entrepreneurial.

When his son, Peter, undertook a real estate development project Dr. Ashtan fully supported his endeavor by personally guaranteeing a $2 million loan from a specialty lender to fund the project.

Unfortunately, due to either lack of experience, poor management, or plain bad luck, the real estate development went bust...

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The Cases That Stay with You: An Asset Protection Story

February 22nd 2018

This is one of the first cases I handled when I launched my own law practice.  It has stuck with me, and in many ways has shaped my career and my outlook on what I do for my clients.
Martin and Sheryl Silversteen came into my office on a Friday afternoon. They were in their late 60s, a nice couple who had worked very hard their whole lives to build a comfortable nest egg.  Watching them, I could see decades of love and life shared between them. But there was something else that seemed new and uncomfortable - fear. And it had something to do with their visit to me.

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Retirement at Jeopardy, and Webinar Invitation

January 19th 2018

With only a couple of years away from retirement, 60-year old Ian Smith, a California real estate attorney found to his dismay, that he was being sued for malpractice. He had mishandled a client’s case on a large deal and, incidentally, had made the same mistake with about 20 client cases over the years.
These mistakes made him vulnerable to over $130 million in liability. Mr. Smith only had $1 million in malpractice insurance, which put his personal assets, retirement funds and residence at risk.

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Auto Accident Puts Home at Risk

December 14th 2017

Nate Smith, a client of ours, got into an auto accident a few years ago. Mr. Smith was 75 years old when the accident occurred. He was making a legal left turn at a light and did not notice a motorcyclist in an oncoming lane. The motorcyclist had circumvented traffic on the far-right side to beat the red light, and crashed into Mr. Smith’s car.
The motorcyclist was seriously injured and although he was most likely at fault, he filed a lawsuit against Mr. Smith for $3 million in damages.

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The Family Business: Protecting the Family Business from Litigious Employees

November 29th 2017

Costas Anastas owned a successful family restaurant for 22 years. Most of his staff had been with him almost as long. Costas needed more help so he hired a new employee. After a year, the new employee filed a lawsuit against Costas and the restaurant for not properly documenting and paying out meal breaks.

The employee found an enterprising plaintiff’s attorney who recruited several other employees into the lawsuit. In the aggregate, they claimed that Costas owed them over $1 million in missed pay and penalties (mostly penalties).

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The Auto Parts Debacle: Surviving a bad partnership

November 15th 2017

Our client, Mr. Thomas Stone, imported and distributed auto parts in the US. He owned and operated this business for over 15 years and was ready to expand. Mr. Stone entered into partnership with a Chinese supplier, took out a business loan and expanded operations.

Unfortunately, Stone’s suppliers cheated him, resulting in significant business debts. He defaulted on his loan and as expected, the lender came after the assets of the business. Mr. Stone came to me in desperation. His life’s work was on the line.

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The Seven Habits of Highly Successful Attorney Rainmakers

October 12th 2017

Guess what lawyers, you are not just in the practice of law; you are also in the business of legal services. And I don’t mean that “the business of law” is pejorative or runs afoul with our professional rules of responsibility, which include the duties of loyalty, communication, financial integrity, confidentiality, diligence, competence, honesty and fairness.  Lawyers usually think that, at the forefront, they need to be analytical and provide great advocacy, research and investigative skills.  While all lawyers should have the 10 MacCrate Skills[1] posted on their desks, lawyers also need to think about themselves as a small business and think about how to have long term successful working relationships with clients and how to attract the crème de la crème clients as well.

[1] The Ten MacCrate skills include, the importance of solving your clients’ problems, legal analysis, legal research, factual investigation, communication, counseling, negotiating, litigation and alternative dispute resolution knowledge, organizational and managerial skills and recognizing issues and resolving them.

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The $10 Million Street Race_ A Lesson in Asset Protection

October 10th 2017

Marnie and Lane came to us with a parent’s second-worst nightmare. Their 16-year-old son, Lane Jr., was involved in an illegal street race. Junior’s car collided with a competitor. Junior sustained minor injuries, while the other driver suffered significant injuries. The family of the other kid sued Marnie and Lane for negligent entrustment of a car to a minor child. We have seen over 30 lawsuits like this over the past ten years alone. The lawsuit sought over $10 million in damages. Marnie and Lane had managed to accumulate a nice net worth – it was almost $10 million. They were both in their mid-50s and realized that in the work years they have remaining they would never be able to reaccumulate such a nest egg.

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Matt v. FTC

September 15th 2017

A client of ours, Matt, had a very successful website that was politically unpopular and attracted the attention of several high-level politicians. The politicians pressured for an FTC (Federal Trade Commission) investigation. Like many government agencies, FTC firmly believes that if it is investigating someone, they must be guilty. 

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