Issue: 2023 Vol. 27 No. 2

(You Make Me Feel Like) A Natural Witness

Aretha Franklin’s 1967 “(You Make Me Feel Like) a Natural Woman” became one of her most popular songs.1 Written by Carole King and Gerry Goffin for Franklin,2 it was later covered by King herself on her 1971 “Tapestry” album.3 Incredibly, the song later became a hit for Franklin on the United Kingdom’s singles chart almost 51 years after … Continued

Standardizing the Corporate Veil Phenomenon

I. Introduction A fundamentally recognized principle in corporate law is that shareholders are not personally liable for the obligations incurred by a corporation.1 Corporate entities are generally treated as distinct from their shareholders.2 Judgments against corporations for liability stop at the corporation and cannot be enforced against their shareholders.3 This is the theory of the corporate form.4 The corporate … Continued

Message From the Chair

As the needs of businesses keep changing, so do those of our Business Law Section members and we, your section officers and Executive Committee, remain focused on helping business lawyers to keep their clients abreast of the continually changing legal landscape. Our CLE and educational programming have been, and will be, robust and diverse. The … Continued

Inside the Courts: An Update From Skadden Securities Litigators

Spotlight Two Sides of the Same Coin: Analyzing the Recent Ripple and Terraform Decisions This article was originally published August 31, 2023, on Reuters Legal News and Westlaw Today, Thomson Reuters businesses. Key Points • In July 2023, Judges Torres and Rakoff in the Southern District of New York issued rulings on whether digital asset sales through trading platforms constitute securities transactions subject … Continued

How Much Is Too Much? The Corporate Transparency Act and the Burden of Anti-Money Laundering Laws on Financial Institutions

I. Introduction This year, JPMorgan Chase and Deutsche Bank paid millions of dollars to victims of Jeffrey Epstein for failing to flag and report suspicious transactions while doing business with the child sex trafficker.1 Epstein routinely withdrew large amounts of cash to pay his victims, and both banks failed to flag these transactions that were allowing Epstein … Continued

HeadNotes

A primary mission of the Business Law Section has always been to promote business-friendly legislation for New York State. It is no secret that New York has been losing jobs, people and industry to other states, and at least in part this is due to the state’s sometimes unwelcoming posture to new businesses as well … Continued

Finance Providers Need To Be Aware of New Commercial Finance Disclosure Laws

In June 2023, Florida and Connecticut became the sixth and seventh states, joining California, Georgia, New York, Utah, and Virginia, to enact a law requiring finance providers to disclose specified information in connection with commercial financing transactions.1 Other states are considering similar legislation. These disclosure requirements are complex, in part because they can apply to a … Continued

Committee Reports

The Business Law Section conducts most of its activities through individual committees that focus on various areas of business law. Membership in any committee is open to any section member. While active participating is encouraged, there is no required time commitment. To join a committee, email [email protected]. For more information, visit https://NYSBA.ORG/BUSINESS. Banking Law Committee … Continued