David Bartoletti

The IRS released private letter ruling (PLR) 202440007 on Oct. 4, ruling that a REIT that produced no income and had no assets during its first year was not precluded from being a REIT. Amongst other reasons, the IRS cited basic mathematics, noting with respect to the income tests and asset tests that "95% of $0 equals $0" and "75% of $0 equals $0", respectively. This is a fact pattern that arises more frequently than one would expect.

Representations and Warranties Insurance (RWI) is a specialized insurance product designed for parties engaging in merger and acquisition (M&A) transactions (and certain other transactions where representations and warranties are given, such as in connection with the making of minority investments).

It's been almost five years since the Hollywood film "Dark Waters" brought to the public consciousness the global environmental issue arising from society's pervasive use of per- and polyfluoroalkyl substances (PFAS).