In Parts 1 and 2 of this series, we discussed the circumstances that led to the planned phase-out of the London Inter-bank Offered Rate, commonly referred to as “LIBOR” and the proposed replacement rate known as the Secured Overnight Financing Rate (“SOFR”). In this last part of the series, we will present the proposed language recommended by the Alternative Reference Rate Committee (“ARRC”) to be used in new contracts that reference LIBOR.
This afternoon, Governor Phil Murphy and New Jersey Legislative Leaders reached a deal that, if approved by the full legislature and signed into law by the Governor, will, over a period of five (5) years, raise the minimum wage rate in New Jersey to $15 per hour for most businesses (reaching $15 per hour in 2024).
Governor Murphy commits to investing in people, ecosystems, physical spaces and more in the State of New Jersey.
The New Jersey Supreme Court recently decided the case of Brugaletta v. Garcia in favor of patient safety in hospitals, concluding once again that a patient cannot obtain a hospital’s internal self-review that is done to comply with the Patient Safety Act. Brugaletta follows the law. This decision also benefits both New Jersey hospitals and patients by encouraging hospital self-improvements in a non-punitive environment. It should be applauded by all.
In this latest entry to the Public Schools and Education Blog, attorney Andrew W. Li discusses how the New Jersey Supreme Court found that -- for public employers – sometimes there can be too much Rice.
Jeff Winitsky, Mariel Giletto and Adam Chelminiak of our public finance and corporate departments explain the Qualified Opportunity Zone program born from the Tax Cuts and Jobs Act.
Corporate attorneys Kathleen O'Brien and Mariel Giletto give an update on the latest ruling regarding sports betting in New Jersey and surrounding states.
The Supreme Court struck down on Monday a federal law, the Professional and Amateur Sports Protection Act of 1992 (“PAPSA”), which made it unlawful for most states to “sponsor, operate, advertise, promote, or authorize” commercial sports betting. The case, Murphy v. National Collegiate Athletic Association, No. 16-476, was the product of efforts to legalize sports betting in New Jersey. Today’s decision to overturn PAPSA, however, clears the way not only for New Jersey but for states around the country to authorize sports betting.
Shareholder Elizabeth Garcia discusses the new Paid Sick Leave Act and what it means for employers and employees.
Shareholder and Chair of the Employment and Labor Department, Elizabeth M. Garcia discusses the new law regarding employee innovators and inventors that took effect this month.