News / Blog

In recent years, a new brand of investor has entered the middle market private equity space: the fundless sponsor. Different than the traditional private equity fund, fundless sponsors do not have an investment fund supporting any acquisition activity. Rather, these fundless sponsors pursue deal opportunities seemingly opposite to the private equity funds that they are competing with. The fundless sponsor identifies a target acquisition and then figures out how they are going to pay for it.…

The distressed market has always presented fertile ground for business parties – investors, business owners, and start-ups – to explore opportunities that, though they may come with some uncertainty, offer “value” that potentially outweighs the issues present. Sometimes these opportunities come through as shut-downs, liquidations, reorganizations, or otherwise (at times, resulting in auctions) in which owners seek to divest themselves of certain assets. One popular vehicle often seen is in conjunction with a Chapter 11 bankruptcy filing; specifically, a sale pursuant to Section 363 of the United States Bankruptcy Code. The key to a Section 363 sale, and the overwhelming reason such sales are so enticing to buyers, is the undeniable stripping of all existing interests in the assets sold, resulting in a purchase that is truly “free and clear.”…

Aging in place simply means that older individuals make a conscious decision to age in their current residence by adding the appropriate wrap-around services necessary in order to maintain their quality of life as they move along the aging continuum. This means planning early in regards to finances, estate plan, future health care needs and more.…

Assistance animals are a common occurrence these days: on airplanes, in restaurants, and at the grocery store. Ohio businesses who offer up any space to the general public—whether a lobby or a larger retail or dining area—need to understand the rules governing assistance animals so they do not find themselves in violation of state and federal disability laws or facing thousands, or even millions, of dollars in potential damages.…

U.S. News & World Report and Best Lawyers® have released their 2019 Best Law Firms rankings and we’re proud to share that Wickens Herzer Panza has been listed in multiple areas. Rankings as a Best Law Firm recognize Firms for their professional excellence and consistently impressive ratings from clients and peers. According to Best Lawyers, achieving a tiered ranking signals a unique combination of quality law practice and breadth of legal expertise.…

Worker classification remains a problem for businesses of all types, including professional practices. Because the Internal Revenue Services (IRS), the Department of Labor (DOL) and the states believe that they are currently incurring a significant loss of revenue and where workers are losing benefits, the IRS, the DOL, and the states are all attacking worker classification and all have different tests to determine worker status. In 2010, the IRS conducted approximately 6,000 comprehensive employment audits, roughly 2,000 for the years 2010, 2011 and 2012 for small businesses and professional practices under the National Research Project (NRP). One purpose of the NRP audits was to determine how much revenue is being lost due to worker misclassification. To date, the results of those audits have not been determined…

As many of you are now aware, during Breast Cancer Awareness Month WHP will hold several fundraising initiatives, with the proceeds benefiting Susan G. Komen, Northeast Ohio Chapter. This cause and Foundation are important to several members of our WHP family who have been impacted by breast cancer, including us.…

Disaster Preparedness: Before and After a Major Loss By now, you’ve all seen and heard of the tragedy brought on by Hurricane Florence in the Carolinas, as well as Hurricane Michael in the panhandle. Surely the wind and rains from the storms were devastating but the slow, ongoing and ever-rising floods throughout parts of the Carolinas and Florida forever changed hundreds of thousands of lives. Seemingly lost in the news coverage is Florence and Michael’s impact on businesses in the Southeast. Without question, the hurricane winds, rains and flooding wreaked havoc on businesses and in some cases, wiped them out entirely. The sad reality is that only those businesses who were ready will survive.…

By now, you may have heard about the Ohio Supreme Court case that held a contractor’s commercial general liability policy (CGL) does not cover property damage caused by its subcontractor’s defective work. If not, here is a brief summary:…

Covering what you need to know when you find yourself caring for your parents AND for your children, WHP attorneys Carmen Verhosek and Erica Williams led the discussion with some of our area’s top female leaders who happen to find themselves in the Sandwich Generation. With equal parts networking and content and a dash or two of wine and appetizers, attendees left with three tools to add to their toolbox. Let’s review the takeaways from last night’s event:…