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An insurance company seeking to enforce a court judgment against a company in Chapter 11 Bankruptcy asked the bankruptcy court to give its $2 million claim priority over five unsecured debts owed to our clients, which were firms linked to the bankrupt company. The insurance company argued that because the loans were from creditors related to the bankrupt company, they should be disallowed altogether or at least treated like equity, and placed junior to the insurer’s claim.

Let’s say you are a minority shareholder in a closely held business, where you own a bit more than a third of the shares, and the other two shareholders each own just under a third. There’s a major squabble, and you just want out. What happens to your shares, and as a minority interest in a closely held company, what are they worth?

Donald Trump’s global web of business relationships has triggered discussion about potential conflicts of interest in the White House. For much more ordinary houses, the courts have put real estate agents on notice about conflicts of interest in a common practice in the buying and selling of homes.

As the end of the year approaches, it is a good time to think about moves that will help lower your tax bill for this year and possibly the next. President-elect Trump has proposed sweeping future changes in tax policy, but there is a lot that individuals and business owners can do prior to December 31 that can help reduce their 2016 tax obligation.

A number of tax breaks for individuals are set to expire at year-end.

•  Businesses should consider making expenditures that qualify for the business property expensing option. For tax years beginning in 2016, the expensing limit is $500,000 and the investment ceiling limit is $2,010,000.