Merrill deal paves way for new ADR; settlement sets three-step process to resolve disputes
Article Abstract:
The 1998 settlement of a class action suit between Merrill Lynch and Co and female stockbrokers envisions a three-step alternative dispute resolution process involving negotiation, mediation and binding arbitration conducted by outsiders rather than the industry-controlled arbitration which prevailed before. Moreover, neither accord limits the brokerage firms' potential liability. Merrill Lynch and Smith Barney have agreed to pay all reasonable legal fees of the plaintiffs who prevail.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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Tax shelters abound even with new law; no IRS rules yet; promoters take advantage of the delay
Article Abstract:
Confidential corporate tax shelters could proliferate because they did not have to be registered with the IRS, and the Taxpayer Relief Act of 1997 tried to plug this preregistration loophole. The law requires any plan between a promoter and a corporate investor to be preregistered as a tax shelter if sold on the condition of maintaining confidentiality, entailing a large fee for the promoter and touting as a significant goal the avoidance of income taxes.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1998
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Comment about this article or add new information about this topic:
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