We advise our domestic and international clients on a broad spectrum of legal needs, including: estate and tax planning; business succession issues; litigated Surrogate's Court cases; trust and estate administration; lifetime transfers of wealth; and private foundations. We handle many of our clients' tax issues, including controversies with the Internal Revenue Service and other taxing authorities.
Proposed Treasury Regulations Would Prevent the “Claw Back” of Gifts That Take Advantage of the Increased Federal Gift Tax Exemption Amount under the Tax Cuts and Jobs Act
On November 23, 2018, the IRS issued proposed regulations clarifying that a gift made after December 31, 2017 that is sheltered by the increased gift and estate tax exemption amount under the Tax Cuts and Jobs Act (the “Act”) would not inflate the donor’s gift and estate tax liability after 2025.
Paul, Weiss represented Perry Ellis’ special committee of independent directors in the acquisition of Perry Ellis International, a NASDAQ-listed apparel company, by a private company owned by founder George Feldenkreis and his family in a transaction valued at $437 million.
Perry Ellis International has agreed to be acquired by George Feldenkreis, Perry Ellis’ founder and a member of the company’s board of directors, in a transaction valued at $437 million.
Paul, Weiss, Rifkind, Wharton & Garrison LLP announced that Loretta A. Ippolito has joined the firm as a partner in its personal representation department, resident in New York, where she will focus her practice on estate planning and estate and trust administration for high net worth individuals and families. "We are delighted to welcome Loretta," said Paul, Weiss chair Brad S. Karp. "I know she will make significant contributions to our personal representation practice and to our firm."
As reported in The Wall Street Journal and other media outlets, Paul, Weiss represented Vice Media Inc. in a $450 million investment by private equity firm TPG.
Philippe Dauman and George Abrams Defeat Motions to Dismiss and Are Granted Expedited Trial in Viacom Litigation
Judge George Phelan of the Massachusetts Probate and Family Court denied six motions to dismiss Paul, Weiss clients Philippe Dauman's and George Abrams' amended complaint in equity.
Paul, Weiss won a major victory yesterday in the New York Appellate Division, First Department for our client The Andrew Lloyd Webber Art Foundation in a dispute involving Pablo Picasso's Blue-Period painting "Portrait de Angel Fernández de Soto" aka "The Absinthe Drinker" (1903).
In a multiparty real estate deal described by CUNY officials as "the most complex the university has ever undertaken," CUNY, together with the Lois and Samuel Silberman Fund of the New York Community Trust, will sell Hunter's current building on East 79th Street to developer The Brodsky Organization. Brodsky will design and construct the new Hunter school building on the Harlem site using the proceeds from the sale and other state funds, before beginning development of the property that Hunter will vacate.