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Lead Article: Pensions or Paintings? The Detroit Institute of Arts from Bankruptcy to Grand Bargain

 

 

by Maureen B. Collins This article examines the issues faced by the City of Detroit and the Detroit Institute of Arts when Detroit filed for municipal bankruptcy. Creditors called for the sale of the highly esteemed DIA art collection to pay outstanding municipal pension obligations. The DIA and the Michigan Attorney General viewed the collection […]

 

 

Slaying Contingent Beneficiaries

 

 

by Kevin Bennardo This Article analyzes what impact, if any, the slaying of one beneficiary by another should have on distribution of a decedent’s property. This issue could arise in a variety of conveyances, such as intestate succession, wills, pay-on-death bank accounts, transfer-on-death securities, or life insurance proceeds. Based on equity, the Restatement (Third) of Restitution […]

 

 

Ashton, Bekins, and Necessity: Why Chapter 9 is Constitutional, But Not the Only Way for Municipalities to Adjust Their Debts

 

 

by Aaron Michael Dmiszewicki The 1930s saw the nation in crisis, steeped in the worst of the Great Depression. In 1936, over 2,000 municipalities, counties, and other governmental units, in 41 of the 48 states, were known to be in default. In response to this crisis, Congress amended the Bankruptcy Act in 1934 and passed the […]

 

 

UMBLR INSIGHTS

 

 

2015 Bar Exam Scores Reveal Worst Performance in Decades: What Does This Mean for Law Firms?

 

 

Gabriela Lazaro – Has the bar exam become too difficult or are current law students just not as smart as their predecessors? Nationwide, the underwhelming results of the July 2014 administration of the bar exam was blamed on a technical glitch involving ExamSoft. ExamSoft is a program available to test-takers who wish to use their […]

 

 

Ashley Madison: Risky Business  

 

 

Matthew Keilson – In July and August of this year, hackers infiltrated Ashley Madison – the world’s leading “married dating service for discreet encounters.” The digital hack released the names, emails, and private profile information of upwards of thirty million users worldwide. Naturally, a slew of multi-million dollar lawsuits followed. Former users filed suit against […]

 

 

Tinder’s Survival without a Revenue-Based Business Model

 

 

Jacqueline Kaleel – Today’s competitive and growing economy requires startups to be extra creative when coming up with a successful business plan. Some companies, however, have formed a successful business plan without a revenue model. But how long can this last? There has to be a point in the company’s life span when profit becomes a […]

 

 

The Feds Want Residential Home Purchasers to Know Before They Owe

 

 

Amber Dawson – October 3, 2015 marked the beginning of substantial changes to the transactional process of residential home buying. In 2013, the Consumer Financial Protection Bureau (CFPB) announced finality of a federal mortgage initiative, which the agency hopes will ensure that residential real estate purchasers are more informed before securing loans. The CFPB hopes […]

 

 

Social Media and a Right to Privacy

 

 

Tiffany Hendricks – The Florida Fourth District Court of Appeal released a groundbreaking opinion in Nucci v. Target Corp., et al., denying plaintiffs’ right to privacy argument in response to a motion to compel discovery of their Facebook information. The court reasoned: “[T]he photographs posted on a social networking site are neither privileged nor protected by […]

 

 

The FCC’s Rulemaking Power

 

 

Joseph Feldman – On February 26, 2015, the Federal Communications Commission (“FCC”) decided to reclassify broadband under Title II of the Communications Act of 1934 with a 3-2 vote. This decision allows the FCC to regulate broadband services using rules originally created for telephone lines, where Internet Service Providers (“ISPs”) had otherwise been self-regulating. Before […]

 

 

Conflict Minerals Disclosure

 

 

JULIE BLACKMORE & JOE BUCCIERO – 2013 was the first year public that companies dealt with the conflict minerals rule. This year, we can review which companies chose to report, how they did so, and what the future will look like for conflict mineral disclosures. The rule is relatively self-contained, so it is an easy way to dip […]

 

 

 

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