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Certain Fund Managers May Be Required To File TIC Form SHC By March 4, 2022

Fund managers may be required to file Treasury International Capital (“TIC”) Form SHC, Report of U.S. Ownership of Foreign Securities, Including Selected Money Market Instruments (“Form SHC”), for 2021 by March 4, 2022, based on the fair value of foreign assets owned by U.S. persons determined as of December 31, 2021. For 2021 and other benchmark…

Client Alerts | February 11, 2022 | Hedge Funds | Private Equity Funds

Kleinberg Kaplan’s Christopher Davis quoted in Dealreporter on Investor Activism in 2022

Christopher Davis, chair of Kleinberg Kaplan’s Investor Activism practice, was recently quoted in the Dealreporter article, “Activist investors push to accelerate changes highlighted by pandemic conditions — 2022 Outlook.” Chris discusses many areas of focus for activism in 2022, including the impact of ESG regulations and the new universal proxy rule. Focusing on the big…

Firm News | February 4, 2022 | Investor Activism

Post Year-End Tax Issues and Planning to Consider

This tax alert briefly highlights certain tax issues and planning that hedge and private equity fund managers and high-net-worth individuals should consider (or reconsider) now that we are in the new year. Our 2021 year-end tax alert highlighted many items to consider and potential tax moves to take before year-end and highlighted proposed tax changes.…

Client Alerts | January 10, 2022 | Hedge Funds | High Net Worth Individual Planning | Private Equity Funds

Partner Phil Gross Published in Bloomberg Tax

Kleinberg Kaplan Partner Phil Gross was recently published in Bloomberg Tax’s year-end series featuring the top submissions covering tax tips and topics to watch out for in the new year. The article, “Tax Tip: Planning for the Excess Business Loss Rules,” discusses important considerations in planning for excess business loss (“EBL”) in light of potential…

Firm News | January 3, 2022 | High Net Worth Individual Planning | Business Advice and Planning | Hedge Funds

Purdue Pharma Bankruptcy Plan Vacated by District Court in Victory for Appellants Represented by Kleinberg Kaplan

Kleinberg Kaplan Creditors’ Rights and Bankruptcy Litigation partner Matthew J. Gold and associate Robert Tuchman have been representing the states of Washington, Connecticut, Delaware, Rhode Island and Vermont in their highly publicized legal battle against Purdue Pharma, maker of OxyContin, a painkiller that allegedly contributed to the national opioid crisis. Most recently, Gold and Tuchman advised the states…

Firm News | December 17, 2021 | Creditors’ Rights and Bankruptcy Litigation

Tax Issues and Planning to Consider Before Year-End 2021

This annual client alert briefly highlights certain tax issues and planning that hedge fund managers and high-net-worth individuals should consider (or reconsider) before the end of 2021. Although year-end tax planning is always important, the potential increase in tax rates in 2022 and other potential tax changes make it even more important this year-end. The…

Client Alerts | December 7, 2021 | High Net Worth Individual Planning | Hedge Funds | Private Equity Funds

A Split in the Track: Transition from LIBOR – SOFR as Accepted New Benchmark Rate vs. Other Alternative Benchmark Rates

As discussed in our October 26, 2021 client alert, the ICE Benchmark Administration will cease to publish the USD LIBOR benchmarks on June 30, 2023,1 and the Alternative Reference Rates Committee (the “ARRC”) announced its recommendation that the forward-looking Secured Overnight Financing Rate (“SOFR”) term rates published by the CME Group should be utilized as…

December 6, 2021 | Securities and Corporate Finance | Special Situations and Credit | Derivatives

U.S. News – Best Lawyers® Awards Kleinberg Kaplan Top Rankings in “Best Law Firms” 2022 Edition

Premier boutique law firm Kleinberg Kaplan has been recognized in U.S. News & World Report’s 2022 edition of “Best Law Firms” for providing outstanding legal counsel in three practice areas: Trusts & Estates, Commercial Litigation, and Tax. Kleinberg Kaplan was named a Tier 1 law firm for Trusts & Estates at both the National and…

Firm News | November 4, 2021 | Estate Planning and Administration | Commercial and Corporate Litigation | High Net Worth Individual Planning | Tax Controversy