In The News

Rob Pinson to Present Top 10 Year-End Tax Planning Strategies

Bone McAllester Norton attorney Rob Pinson will present the Top 10 Year-End Tax Planning Strategies on November 18th from 8:30am – 10:30am.


  This event is designed for business owners and hosted by KraftCPAs, Accelerent and Bone McAllester Norton.


Topics Include (but not limited to)
• Best ways to take cash out of the company
• Rules for related party deductions
• Research & development tax credits you might have overlooked
• Accelerated depreciation options and strategies
• Using retirement plans to their full tax benefit potential
• Tennessee state tax issues and opportunities
• Update on new and/or expiring tax legislation
• The pros and cons of Roth IRA conversions this year
• Gifting strategies to avoid taxation
• Making charitable contributions from retirement plans


Location: KraftCPAs’ Nashville Office, 555 Great Circle Road (Metro Center)


 

Push for “Tylers Law” After Lawsuit Victory

Bone McAllester Norton attorneys David Briley, John Branham and Charles Robert Bone prevailed at trial for Don and Sarah Sinclair, the parents of an 18-month old boy who were denied the opportunity to see their son after he died suddenly in June 2008 while with a caregiver.


The jury awarded a verdict of punitive damages in the amount of $1.25 million and $300,000 in compensatory damages against Forensic Medical Management Services PLC, the firm that handles medical-examiner duties for Metro Nashville.


Along with four of the twelve jurors, Bone McAllester Norton is pushing to pass “Tylers Law,” a law to ensure no family is ever denied the opportunity to see their deceased child.  This follows a Florida law which guarantees a family the right to see their child after death and before autopsy.


"The circumstances indicated that there was no reason to prevent the parents from seeing their son," said David Briley.


"It's unfortunate that you have to change the law to impose common sense on people. Families need to make that visual connection and begin the process of healing and putting things in order. That's very important. It happened. But to them it is still not real. It's not real until they actually see their son."


NewsChannel5.com ran a story, "Lawsuit Victory Could Pave the Way for New State Law," on this case.


 

Push for “Tylers Law” After Lawsuit Victory

Bone McAllester Norton attorneys David Briley, John Branham and Charles Robert Bone prevailed at trial for Don and Sarah Sinclair, the parents of an 18-month old boy who were denied the opportunity to see their son after he died suddenly in June 2008 while with a caregiver.

The jury awarded a verdict of punitive damages in the amount of $1.25 million and $300,000 in compensatory damages against Forensic Medical Management Services PLC, the firm that handles medical-examiner duties for Metro Nashville.

Along with four of the twelve jurors, Bone McAllester Norton is pushing to pass “Tylers Law,” a law to ensure no family is ever denied the opportunity to see their deceased child.  This follows a Florida law which guarantees a family the right to see their child after death and before autopsy.

"The circumstances indicated that there was no reason to prevent the parents from seeing their son," said David Briley.

"It's unfortunate that you have to change the law to impose common sense on people. Families need to make that visual connection and begin the process of healing and putting things in order. That's very important. It happened. But to them it is still not real. It's not real until they actually see their son."

NewsChannel5.com ran a story, "Lawsuit Victory Could Pave the Way for New State Law," on this case.

 

Trace Blankenship Presented "Private Placements in Tennessee: Anatomy of an Early-Stage Investment"

Bone McAllester Norton attorney Trace Blankenship presented a webcast titled “Private Placements in Tennessee: Anatomy of an Early-State Investment” for the Tennessee Bar Association on October 13, 2010.


Here is a description of the presentation:


As opportunities continue to increase for Tennessee companies to pursue and obtain capital investments, the company’s management and advisers have much to consider as they structure and document the investment.  This session is designed to provide an overview of what exemptions are available under the federal and state securities laws for Tennessee companies obtaining capital from outside investors and what risks need to be considered, along with practical guidance for how to properly document the investment transaction.  Join Trace Blankenship, a securities and M&A attorney at Bone McAllester Norton PLLC, Nashville, Tennessee, in this session to hear about the changing legal landscape for raising capital and best practices for companies considering a private placement offering in Tennessee.


 

Congratulations to 37 of our Clients for Winning in 53 Categories of the Nashville Scene’s Best of Nashville Reader’s Poll

The Alcoholic Beverage Group at Bone McAllester Norton PLLC congratulates 37 of our clients for their well deserved recognition in the Nashville Scene’s 2010 Best of Nashville Reader’s Poll.


  These are the winners in an impressive 53 categories:


Arnold Myint
Best Chef


Arrow
Best Strip Club


Artrageous
Best Charity Event


Baja Burrito
Best Burrito
Best Fish Taco


Belcourt
Best Move Theater
Best Place for a Cheap Date


Beyond the Edge
Best Sports Bar
Best Place to Throw Darts


Black 13
Best Tattoo Studio


Bud’s
Best Liquor Store


Café Coco
Best Late-Night Eats
Best Patio
Best After-Hours Hang


Five Guys
Best French Fries
Best Cheeseburger


Fleming’s
Best Steakhouse


Frist Center for the Visual Arts
Best Museum
Best Art Show - Chihuly at Cheekwood
Best Art Show - Golden Age of Couture at Frist
Best Place for a Cheap Date
Best Place to Take Kids When its Raining


Gigi’s Cupcakes
Best Place to Buy Cupcakes


Gold Rush
Best French Fries
Best Cheap Eats
Best Late-Nights Eats
Best Neighborhood Bar
Best Happy Hour
Best Sports Bar
Best Bar to People-Watch
Best Bartender, Patrick Noles


Grace’s Wine and Spirits
Best Liquor Store


Hutton Hotel
Best Boutique Hotel


Losers
Best Music Industry Hang


Mafiaoza’s
Best Family-Friendly Restaurant


McFadden’s
Best Place to Meet Single Women


Midtown Wine & Spirits
Best (most knowledgeable service) in a Wine Store


Nashville Symphony
Best Performing Arts Group


Nuvo Burrito
Best Burrito


Play
Best Gay Bar
Best Lesbian Bar
Best Place to Dance


Publix
Best Place to Buy Fresh Seafood


Pure Gold’s Crazy Horse
Best Strip Club


Red Rooster
Best New Bar or Club (opened since October 2009)


Ruth’s Chris
Best Steakhouse


Sambuca
Best Place for a Romantic Dinner
Best Restaurant Ambience
Best Service in a Restaurant


September’s
Best Restaurant in Sumner County


Sunset Grill
Best Dessert
Best Late-Nights Eats
Best Wine List in a Restaurant


Suzy Wong’s
Best After-Hours Hang


Trader Joe’s
Best Health Food Store
Best Grocery Store


Tribe
Best Bartender, Loy Carney
Best Martini
Best Pickup Bar
Best Gay Bar
Best Lesbian Bar
Best Place to Meet Single Men


Watanabe
Best Sushi Bar/Japanese Restaurant


Whole Foods
Best Health Food Store
Best Grocery Store
Best Place to Buy Fresh Seafood
Best Place to Shop Green
Best Specialty/Gourmet Store


Woodland Wine Merchant
Best (most knowledgeable service) in a Wine Store


Yazoo
Best Brewhouse


Zumi Sushi
Best Takeout


 

Congratulations to 37 of our Clients for Winning in 53 Categories of the Nashville Scene’s Best of Nashville Reader’s Poll

The Alcoholic Beverage Group at Bone McAllester Norton PLLC congratulates 37 of our clients for their well deserved recognition in the Nashville Scene’s 2010 Best of Nashville Reader’s Poll.

  These are the winners in an impressive 53 categories:

Arnold Myint
Best Chef

Arrow
Best Strip Club

ArtrageousBest Charity Event

Baja BurritoBest Burrito
Best Fish Taco

BelcourtBest Move Theater
Best Place for a Cheap Date

Beyond the EdgeBest Sports Bar
Best Place to Throw Darts

Black 13
Best Tattoo Studio

Bud’s
Best Liquor Store

Café CocoBest Late-Night Eats
Best Patio
Best After-Hours Hang

Five Guys
Best French Fries
Best Cheeseburger

Fleming’sBest Steakhouse

Frist Center for the Visual Arts
Best Museum
Best Art Show - Chihuly at Cheekwood
Best Art Show - Golden Age of Couture at FristBest Place for a Cheap Date
Best Place to Take Kids When its Raining

Gigi’s CupcakesBest Place to Buy Cupcakes

Gold RushBest French Fries
Best Cheap Eats
Best Late-Nights Eats
Best Neighborhood Bar
Best Happy Hour
Best Sports Bar
Best Bar to People-Watch
Best Bartender, Patrick Noles

Grace’s Wine and SpiritsBest Liquor Store

Hutton HotelBest Boutique Hotel

LosersBest Music Industry Hang

Mafiaoza’sBest Family-Friendly Restaurant

McFadden’sBest Place to Meet Single Women

Midtown Wine & SpiritsBest (most knowledgeable service) in a Wine Store

Nashville SymphonyBest Performing Arts Group

Nuvo BurritoBest Burrito

PlayBest Gay Bar
Best Lesbian Bar
Best Place to Dance

PublixBest Place to Buy Fresh Seafood

Pure Gold’s Crazy Horse
Best Strip Club

Red RoosterBest New Bar or Club (opened since October 2009)

Ruth’s ChrisBest Steakhouse

SambucaBest Place for a Romantic Dinner
Best Restaurant Ambience
Best Service in a Restaurant

September’s
Best Restaurant in Sumner County

Sunset Grill
Best Dessert
Best Late-Nights Eats
Best Wine List in a Restaurant

Suzy Wong’s
Best After-Hours Hang

Trader Joe’s
Best Health Food Store
Best Grocery Store

Tribe
Best Bartender, Loy Carney
Best Martini
Best Pickup Bar
Best Gay Bar
Best Lesbian Bar
Best Place to Meet Single Men

WatanabeBest Sushi Bar/Japanese Restaurant

Whole Foods
Best Health Food Store
Best Grocery Store
Best Place to Buy Fresh Seafood
Best Place to Shop Green
Best Specialty/Gourmet Store

Woodland Wine MerchantBest (most knowledgeable service) in a Wine Store

YazooBest Brewhouse

Zumi SushiBest Takeout

 

Roundtable Led by Will Cheek: “State ABC Mergers with Other State Agencies”

Will Cheek led a roundtable discussion entitled “State ABC Mergers with Other State Agencies” at the annual meeting of the National Association of Licensing and Compliance Professionals.


  Missouri recently merged its ABC with its Revenue Department, getting rid of almost all its agents in the process.  Tennessee, Texas and other states have been looking at mergers to save costs.


NALCP is an organization of in-house hospitality licensing and compliance professionals specializing in retail liquor licensing.   Mr. Cheek has been an active supporter of the organization and serves as general counsel to the nonprofit.


 

Stephen Zralek’s WaterCooler Networking Event to Feature “Molding Your Image in a 24/7 World”

The next WaterCooler event is set for Monday, October 11, 2010 from 5:30 to 7pm at Fish & Co.   Co-hosted by Stephen Zralek of Bone McAllester Norton, Renata Soto of Conexión Américas and Wade Munday, WaterCooler is an open invitation, informal networking group for young entrepreneurs.  Bring your friends and please RSVP to Kristi at This email address is being protected from spambots. You need JavaScript enabled to view it..


Join us for after-work drinks and networking as we welcome WKRN anchor Christine Madella.  In addition to serving as an anchor, Christine is also a media consultant for entertainers, athletes and organizations.  She will lead a discussion on molding your image in a world where we are constantly connected, as individuals and organizations, whether through social media or traditional media.

Christine was one of the early reporters to use Twitter as a journalist, and is credited for having broken the news of Steve McNair's death on Twitter.  With over 4,000 followers on Twitter, you can follow her here: www.twitter.com/christnemaddela

We will meet at Fish & Co. (formerly Miro District), near Vanderbilt.  Come check out the new restaurant, which has garnered great reviews.  When you enter, go upstairs and to the back of the room.


Please RSVP to Kristi at This email address is being protected from spambots. You need JavaScript enabled to view it. by Friday, October 8, so that we can give Fish & Co. an accurate headcount.  Feel free to invite your friends.


WaterCooler Presents
Christine Maddela
"Molding Your Image in a 24/7 World"
Monday, October 11, 2010
5:30- 7:00 PM
Fish & Co.
(1922 Adelicia Street)
$10 includes food with cash bar


WaterCooler is an informal networking group for young entrepreneurs in their 20s, 30s and 40s that meets the second Monday of every month from 5:30-7pm for cocktails, networking and the chance to hear vibrant speakers on a variety of topics.  There is no official membership and no dues -- just come when the speaker interests you.

WaterCooler began in September 2009 and has featured the following speakers/topics:

September 2009: Kimberly Pace (Owen School): "Personal Marketing"
October 2009: Clint Smith (Emma): "The Art of Everyday Innovation"
November 2009: Chris Ferrell (SouthComm): "The Changing Delivery of Information"
December 2009: Becca Stevens (Magdalene/Thistle Farms): "Walking in Gratitude"
January 2010: Freddie O'Connell (SearchViz): "Search Engine Optimization"
February 2010: Bob Bernstein (Bongo Java)/Jose Gonzalez (Belmont): "Entrepreneurship with Heart"
March 2010: Sid Chambless (Nashville Capital Network): "Investment Capital for Young Entrepreneurs"
April 2010: Networking for WaterCooler attendees
June 2010: Laura Creekmore (Creekmore Consulting): "Using Social Media as a Young Entrepreneur"
July 2010: Alan Young (Armor Concepts LLC): "Secrets of Starting a Successful Company"
September 2010: Ed Nash (Oxford Fine Arts): "The Art of Buying Fine Art"


 

Time is On Your Side: 4 Tips for Collections in a Recovering Economy

By David M. Anthony


Despite the constant reports of rising foreclosure rates and bankruptcy filings, the news world was abuzz last week about the report from the National Bureau of Economic Research (NBER) that the Great Recession had ended…in June 2009. This surely came as a surprise to loan officers and small businesses everywhere who are seeing their fair share of loan defaults and increasingly uncollectable accounts receivable.


Anticipating this response, the NBER explained that, while the economy had not yet returned to operating at normal capacity, the worst was behind us. While this good news doesn’t put money into hands today, here are some things any creditor should bear in mind while we wait for the economy to fully recover.


There’s time to be patient.  In Tennessee, the statute of limitations for collection on an unpaid debt is six (6) years, pursuant to Tenn. Code Ann. § 28-3-109. Then, once you sue and obtain a judgment (within six years from the date of the default), your judgment is valid for ten years, pursuant to Tenn. Code Ann. § 28-3-110.  Plus, if your judgment remains unpaid at the end of the ten years, Tennessee judgments can be renewed pursuant to § 28-3-110 for another ten year period.


Don’t wait to act.  In some instances, it may make sense to take no action on unpaid debt. Maybe the customer is a company that has gone out of business and has no remaining assets, or maybe they’ve filed a liquidation bankruptcy.  This is where you make the “don’t throw good money after bad” decision and possibly decide to write this debt off.


But, remember, the first creditor to obtain a judgment is the first in line to seize assets. Granted, you could be the first in line and discover there are no assets, but you should nevertheless record your judgment as lien in the real property records. For less than $25 in filing fees, a creditor can record a certified copy of its judgment in any and all Tennessee counties where the debtor owns real property, and that judgment becomes a lien on any real property owned by the debtor.


Even if they don’t have any equity in their property today, the situation could well be different in ten years (judgment liens remain valid as long as the underlying judgment is valid). What’s more, your lien’s reach will capture any real property they obtain during the life of the lien. In the end, sooner or later, your debtor will have to deal with you, whether it be as part of a purchase of new property, a sale, or a refinance.


Bend, don’t break. Sometimes, it’s important to recognize when a debtor truly lacks any assets to pay toward your debt. When this is the case, aggressive collections—whether it be seizing a work truck or all funds out of a bank account—may put that debtor out of business and, possibly, into a bankruptcy filing. A judgment creditor can take depositions and request financials from their debtor, and this information may assist you in determining whether they aren’t paying anybody…or just aren’t paying you.


Bankruptcy doesn’t mean the process is over.  If your debtor does file a bankruptcy case, there’s still a chance of monetary recovery. In addition to the benefits to the debtor, the secondary point of the bankruptcy process is to maximize return for creditors prior to granting the debtor a discharge of his or her debts. But, in most instances, a creditor in bankruptcy only receives pennies on the dollar in the process.


Keep in mind, however, the success rate in Chapter 13 bankruptcy cases (where debtors repay a percentage of their debts over 3 to 5 years) can be as low as 20%, meaning that most of those cases end with a dismissal. A dismissal is good for a creditor, because there is no discharge of the debt. Instead, the full amount remains due and owing. Debts are eliminated only when debtors receive a “discharge.” That’s an important distinction to know.


Finally, remember that a bankruptcy discharge only discharges “debts”—not “lien” rights. So, if you’ve already obtained a judgment and recorded it as a lien, then your lien on the debtor’s property survives the bankruptcy discharge. As a result, even though you can’t collect your debt, you can enforce your lien in the event of an attempted sale or refinance.


In the end, collection is a process that rewards the patient, especially in a recovering economy. But, a successful creditor must be prepared, and being prepared means having a valid judgment in place and exhausting all enforcement remedies before giving up. We all hope that the reports are right, and, if they are, the steps you take today will help make sure you’re paid in the future.


David M. Anthony practices with Bone McAllester Norton PLLC in the firm’s Creditors’ Rights practice group, and he regularly writes about issues impacting bankruptcy, judgment collection, and lien litigation at his blog, Creditors Rights 101, www.creditorsrights101.com.


 

Stephen Zralek to Present How to Protect Against a Lawsuit when Using Social Media

Bone McAllester Norton attorney Stephen Zralek will present a session titled How to Protect Against a Lawsuit when Using Social Media at BarCamp Nashville on Saturday, October 16th at Cadillac Ranch.


 Stephen will be among dozens of presenters at this free, new-media focused “unconference” which brings together the brightest minds from the new media, tech, entrepreneurial and “geek” communities.


Below is an overview of Stephen’s topic:


Legal issues are often the last thing people think of when using Twitter, Facebook or blogging. They say that ignorance is bliss, but ignorance of the law is never an excuse in court.


We will explore issues that every social media user needs to know to help protect against a lawsuit, ranging from copyrights and trademarks (copying others’ content, photos or logos) to fair use, privacy & terms of use, along with questions from the audience.


Learn more and register for BarCamp Nashville.