Just a friendly reminder, if you do not have a Last Will & Testament and a Living Will, you should. And so should your parents. Why let the statutes decide how your estate is distributed without a Will and what should happen without a Living Will in the event you cannot make a decision. These legal documents are powerful. You should consult a lawyer. #adamsampsonlaw
Puerto Rico Supreme Court: Former Exec Cannot Sue Individual Board Members for Breach of Employment Contract
A former employee cannot sue individual members of a corporation’s board of directors for breach of an employment contract and negligence in execution of fiduciary duties, where: 1) the individual board members are not parties to the employment contract; and 2) the employee and his relatives are not shareholders with standing to sue board members for alleged breach of fiduciary duty, the Puerto Rico Supreme Court has held. Randolfo Rivera San Feliz et al v. Junta de Directores de Firstbank Corporate et al., 2015 TSPR 61, 196 DPR ___ (2015).
Plaintiff Randolfo Rivera was a former executive of a banking entity in Puerto Rico. The terms of his employment were established in a contract with the bank. The contract provided that any decision regarding the contract, including termination of employment, had to be approved by at least two-thirds of all the members of the bank’s board of directors…
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Access to Client Lists May Warrant Litigation Over Noncompete and Nonsolicitation Agreements
With increasing job mobility, lower profit margins and heightened competition, and the ease of access to confidential information, more companies across various industries require their employees to execute non-compete and/or non-solicitation agreements. Employees may still retain the ability to move jobs but they may be restricted in their performance of those new positions, particularly when moving to a competitor in the industry.
On April 13, 2015, Citibank initiated litigation in New York to prevent a former vice president of its private banking division, Citi Private Bank, from using its client information to solicit business in his new position with one of its direct competitors. Citibank argues in its lawsuit that the former vice president, Mourra, is improperly utilizing confidential information, namely client lists and contact information, to reach former clients and solicit them to move their business to his new company. In this case, the conduct allegedly runs afoul of…
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What Is Probate and How Could It Affect You?
Image Credit: Gillie Rhodes on Flikr Commons
Probate is the process of applying for the right to deal with deceased persons affairs and administrate their estate.
The process of probate varies according to whether the deceased has left a will or not. We will be examining the differences between the two to ensure that if the need arises, you will know exactly what to do in each situation.
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Adam Sampson, Esquire 