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Business

Indiana Supreme Court Curtails Attempted Expansion of Exceptions to General Rule Regarding Successor Liability in Corporate Transactions

The Indiana Supreme Court recently issued an opinion in New Nello Operating Co., LLC v. CompressAir that clarifies the elements to be met when establishing that a buyer of a business will be liable as the successor to the obligations of the target.  Now, to fall under either of two exceptions to the…

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Governor Holcomb Signs Legislation Modifying Indiana’s Zero Tolerance Per Se Driving Law for Marijuana or Marijuana Metabolite

On April 15, 2021, Governor Eric Holcomb signed Indiana Senate Bill 201 (the “SB 201”) into law, modifying the state’s zero tolerance per se law concerning marijuana and its metabolites codified at Indiana Code Section 9-30-5-1. SB 201 provides an affirmative defense for drivers operating a motor…

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Indiana Supreme Court Affirms Freedom of Contract Principles in Closely Held Company Valuation Case: Choose Your Words Carefully

On January 28, 2021, the Indiana Supreme Court affirmed freedom of contract principles and upheld discounts of over thirty percent in the fair market valuation of shares in a dispute over the buyback provision in a shareholder agreement among all of the shareholders of a closely held company.  In …

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2021 Hemp License Application Now Available Online

Earlier this month, the Office of the Indiana State Chemist (“OISC”) began accepting applications for licenses to commercially grow and process hemp using its new online licensing software (the “Application”). The new Application is live following approval of the Indiana State Hemp Plan (the…

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