A "shell" corp. may be a good devisee of contaminated realty

Article Abstract:

Owners of contaminated property can avoid clean-up costs for themselves and their heirs by making the property part of a shell or S corporation. The stock from the corporation would be given to the beneficiaries of a trust, giving them less liability for clean-up costs than a direct gift of property would. Two ways of successfully structuring the transfer are the formation of a corporation that would own the property at the time of formation, or the formation of a shell corporation that would take ownership upon the death of the owner. In both cases, the stock could be bequeathed to heirs without loss of the marital deduction.

Taxation, Liability for environmental damages, Land trusts, Shell companies

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Contaminated sites: Connecticut moves toward private ADR

Article Abstract:

The Connecticut Legislature's Senate Bill 1139 (1996) aimed to establish procedures for private alternative dispute resolution involving multi-party contaminated sites, and may have passed if regulators agreed to the terms. The bill provided amnesty from penalties, liability caps and a fast Connecticut Department of Environmental Protection approval. Regulators opposed the bill, primarily because it took control of the process out of their hands, and the bill was set aside. Opposition to regulators must be overcome in Connecticut and other states to enact multi-party ADR.

Usage, Connecticut, Environmental mediation

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Good prospects for growth in 1995

Article Abstract:

Economic forecasters expect the economic recovery of 1994 to continue in 1995. It is also expected that headline inflation will rise. 1995 is expected to see increased consumer spending and investment in capital projects unlike 1994 when growth in gross domestic product was largely export-led and there was minimal consumer spending. Forecasters are concerned that the inevitable tax-cuts before the election in 1996 will derail the steady economic recovery by creating inflation.

Economic development

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