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These are all the Blogs posted in May 2007.

May 18, 2007
JOHN J. KENNEY JOINS HOGUET NEWMAN & REGAL, LLP
--Firm Renamed Hoguet Newman Regal & Kenney, LLP--
March 1, 2007 Hoguet Newman & Regal, LLP announced today that John J. Kenney has joined the firm as a name partner, effective immediately. The firm will be called Hoguet Newman Regal & Kenney, LLP. Mr. Kenney is a well-known trial lawyer and “white collar” criminal defense counsel. From 1981 until 2005, Mr. Kenney was a partner of Simpson Thacher & Bartlett, specializing in complex civil and criminal litigation. Laura B. Hoguet said “John is a fabulous lawyer and he will add both depth and a new dimension to our firm.”  Mr. Kenney served as an Assistant U.S. Attorney in the Southern District of New York from 1971 to 1980 and as the Executive Assistant U.S. Attorney from 1977 to 1980. Mr. Kenney is a fellow in the American College of Trial Lawyers. He is the former President of the New York County Lawyers’ Association and of the Federal Bar Council and has served as the Chair of the Criminal Law Committee of the Association of the Bar of the City of New York. He is listed in The Best Lawyers in America and serves as a Director of both the Citizens Crime Commission of the City of New York and of the American Association for the International Commission of Jurists, Inc. Mr. Kenney received his B.A. from St. Michael’s College and his J.D. from Fordham University.  The firm also announced that Tai-Heng Cheng has joined it as Of Counsel. Mr. Cheng is an Associate Professor of Law and Assistant Director of the International Law Center at New York Law School.  
Posted By: Hoguet Newman Regal & Kenney, LLP in Category: HNR&K News
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Can Your “Vested” Compensation Be Forfeited? 
Read on—you may need legal advice.

Many companies, to incent employees to keep working, require that a portion of the employee's bonus, cash or equity, be deferred. Under the typical plan, the employee "vests" in the deferred compensation after he has worked for three years. If the employee leaves before the three years are up, he forfeits the unvested deferred compensation.  What happens if the employee leaves after the deferred compensation has “vested”? 

Whether the employee will receive his vested deferred compensation depends on the terms of the employer’s plan. If the termination was for “cause,” even vested deferred compensation may be forfeited. The employer’s plan may also provide for forfeiture in the event the employee competes with the employer in his new job.

Another unmarked hazard for employees is the employer’s plan that requires employees who receive stock options to exercise them during employment. If the employee quits or is fired without having exercised her options, she may lose them even though they were fully vested on her termination date. 

The bottom line: an employee may need legal advice to understand and get maximum value out of his or her compensation plan.

Posted By: Hoguet Newman Regal & Kenney, LLP in Category: Litigation News
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Delaware Chancery Judge Orders Payment to  “Awosting” Creditors Represented by HNRK
A multi-year litigation finally came to a close on May 18 when Delaware Vice Chancellor Leo E. Strine, Jr. approved a settlement of claims brought against the managing member of a defunct development project. The Project, known as the Awosting Reserve, was to consist of luxury homes and a championship golf course on 2,600 acres in the Shawangunk Mountains, about 70 miles north of the New York City in the Town of Gardiner, New York. But after protests from local residents, the Town refused to issue building permits, killing the Project. The managing member of the Project, John Atwater Bradley, refused to repay his investors, triggering a lawsuit brought in Delaware Chancery Court by the investors, represented by HNRK. The investors won a judgment forcing the sale of the Project land to generate proceeds to return their money and pay off other creditors. The land was purchased by the Trust for Public Land last year for $17 million. The investors received all of their capital back (nearly $13 million), and today, two creditors – the Project’s former law firm and the Project developer both won judgments for the partial payment of their respective professional fees, totaling $500,000. HNRK represented both the law firm and the developer.

The Awosting Reserve is now state parkland operated by the Palisades Interstate Park Commission.   
Posted By: Hoguet Newman Regal & Kenney, LLP in Category: HNR&K News
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